Primerica, Inc. engages in the distribution of financial products to middle income households in the United States and Canada. The company assists clients in meeting their needs for term life insurance, which it underwrites, and mutual funds, annuities and other financial products, which it distributes primarily on behalf of third parties. The company insured approximately five million lives and had approximately two million client investment accounts as of December 31, 2015. Subsidiaries The company conducts its business activities in the United States through three principal entities, all of which are direct or indirect wholly owned subsidiaries, including Primerica Financial Services, Inc. (PFS), its general agency and marketing company; Primerica Life Insurance Company (Primerica Life), its principal life insurance underwriting company; and PFS Investments Inc. (PFS Investments), an investment and savings products company, broker-dealer and registered investment advisor. The company conducts core business activities in Canada through three principal entities, all of which are indirect wholly owned subsidiaries, such as Primerica Life Insurance Company of Canada (Primerica Life Canada), a Canadian life insurance underwriting company; PFSL Investments Canada Ltd. (PFSL Investments Canada), a Canadian licensed mutual fund dealer; and PFSL Fund Management Ltd. (PFSL Fund Management), a Canadian investment funds manager. Segments The company operates in three segments consisting of Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. Term Life Insurance The company, through its three life insurance subsidiaries, including Primerica Life, National Benefit Life Insurance Company (NBLIC), and Primerica Life Canada, offers term life insurance to clients in the United States, its territories, the District of Columbia and Canada. The company offers term life insurance products with level premium coverage periods that range from 10 to 35 years and a range of coverage face amounts. Additionally, certain term life insurance policies might be customized through the addition of riders to provide coverage for specific protection needs, such as mortgage and college expense protection. It also offers TermNow, which allows a sales representative to take an online application and, with the client’s permission, allows the company to access databases, including Medical Information Bureau data in the United States and Canada and prescription drug and motor vehicle records in the United States, as part of the underwriting process. Investment and Savings Products The company’s products comprise basic saving and investment vehicles that seek to meet the needs of clients in all stages of life. Through PFS, PFS Investments, Primerica Life Canada, PFSL Investments Canada, and licensed sales representatives, the company distributes and sells to clients mutual funds, managed investments, variable and fixed annuities, fixed indexed annuities and segregated funds. As of December 31, 2015, approximately 23,660 of sales representatives were licensed to distribute mutual funds in the United States (including Puerto Rico) and Canada. As of December 31, 2015, approximately 13,300 of its sales representatives were licensed and appointed to distribute annuities in the United States and approximately 9,900 of its sales representatives were licensed to sell segregated funds in Canada. Mutual Funds: In the United States, the company’s licensed sales representatives primarily distribute mutual funds from the following select asset management firms: American Century Investments, American Funds, Franklin Templeton, Invesco, Legg Mason and Pioneer. In Canada, the company’s sales representatives offer Primerica-branded Concert Series funds. Its Concert Series of funds consist of six different asset allocation funds with varying investment objectives ranging from fixed income to aggressive growth. Each Concert Series fund is a fund of funds that allocates fund assets among equity and income mutual funds of AGF Funds, a major asset management firm in Canada. The asset allocation within
primerica inc (PI7:Stuttgart)
1 Primerica Parkway
Duluth, GA 30099
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