Primerica sells term life insurance and investment products to middle-income U.S. and Canadian households, typically those earning $30,000–$130,000 per year. The company underwrites term life policies directly through its own insurance subsidiaries, covering over 5.5 million lives with roughly $968B of face amount in force. Primerica also distributes mutual funds, annuities, and managed accounts as a third-party distributor, with roughly $129B in client assets across approximately 3.1 million investment accounts. Primerica does not use an employed sales force — instead, roughly 151,500 independent, commission-based reps sell through personal networks, often starting part-time, using a proprietary Financial Needs Analysis tool to identify clients' insurance and savings gaps. Client relationships typically begin with a term life policy and deepen over time as reps cross-sell investment products. Term life is the largest segment at roughly 55–60% of operating revenues; Primerica reinsures 80–90% of mortality risk, making the income profile more fee-like than traditional insurance. The investment and savings segment, at roughly 38% of revenues, earns upfront sales commissions and trailing asset-based fees. The model is capital-light — independent reps bear their own costs, and most mortality risk is reinsured — allowing Primerica to return roughly 79–80% of net operating income to shareholders through dividends and buybacks.