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PRIMERICA FINANCIAL SERVICES RENAMES TWO AFFILIATES; NEW NAMES TO BETTER REFLECT PRIMERICA'S OWNERSHIP

 PRIMERICA FINANCIAL SERVICES RENAMES TWO AFFILIATES;
 NEW NAMES TO BETTER REFLECT PRIMERICA'S OWNERSHIP
 ATLANTA, July 1 /PRNewswire/ -- Primerica Financial Services today announced that the names of two of its major affiliate companies have changed effective July 1.
 Massachusetts Indemnity and Life Insurance Company (MILICO) is now Primerica Life Insurance Company, and First American National Securities, Inc. (FANS) is now PFS Investments, Inc. The new names were selected in order to better identify both companies with Primerica Financial Services and its parent company, Primerica Corporation (NYSE: PA).
 Primerica Financial Services' 100,000-member sales force will continue to market term life insurance through Primerica Life (formerly MILICO). Approximately 20,000 of these sales representatives are also licensed to market mutual funds through PFS Investments (formerly FANS), a registered broker/dealer.
 "We are committed to building a consistent brand name synonymous with outstanding customer service and quality financial products," commented Edwin M. Cooperman, chairman and CEO of Primerica Financial Services Group. "Our organization and its representatives will continue to strongly advocate 'buy term and invest the difference,' but now, clients will buy term insurance from Primerica Life and mutual fund clients will invest the difference through PFS Investments."
 Approximately 2.2 million MILICO policyowners were mailed Name Change Endorsements to be added to their policies, which in no way alters any aspect of their policies, including terms and conditions and premium rates. Primerica Life will continue to have MILICO's recently upgraded A- ("excellent") A.M. Best rating and its AA ("excellent") Standard & Poor's rating.
 In addition, more than 630,000 FANS clients were notified of the name change, although it has no impact on any contracts or accounts. The name change applies only to the broker/dealer, and does not affect the names of the actual mutual funds marketed through the company, the majority of which are the Common Sense Trust family of funds.
 Primerica Financial Services consists of an affiliated group of companies engaged in the marketing of financial services products, including individual term life insurance (with more than $300 billion in face amount in force), mutual funds and debt consolidation loans in conjunction with Commercial Credit Corporation.
 Primerica Corporation, a diversified financial services company headquartered in New York, is the parent company of PFS and its affiliates. Other Primerica subsidiaries include Smith Barney and Commercial Credit Corporation. As of March 31, Primerica had assets of $21 billion.
 -0- 7/1/92
 /CONTACT: Mark L. Supic of Primerica, 404-564-6329/
 (PA) CO: Primerica Financial Services ST: New York; Georgia IN: INS SU:


CF-EA -- AT006 -- 5640 07/01/92 11:19 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 1, 1992
Words:428
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