Licensing Test Too Hard, Just Make It Easier, Says Primerica...

[Northeast Agent]

Primerica Wrestles With Agent Licensing Exam Delays | ThinkAdvisor

He said Primerica has tried to make up for serious licensing exam obstacles in many states to improving its field training bonus program, which encourages recruits to start building their businesses even before they’re licensed.

Primerica is also encouraging recruits to sell products that can be sold without a license, and it has been asking states to add alternatives to the traditional licensing process, Williams said.

 

[Allen Trent]

Primerica Wrestles With Agent Licensing Exam Delays | ThinkAdvisor

He said Primerica has tried to make up for serious licensing exam obstacles in many states to improving its field training bonus program, which encourages recruits to start building their businesses even before they’re licensed.

Primerica is also encouraging recruits to sell products that can be sold without a license, and it has been asking states to add alternatives to the traditional licensing process, Williams said.

You missed when he dropped the super secret success advice we have all been searching our entire careers for.........we would rather sell in a booming economy. That kind of insider knowledge would have made my career 10x better had I known it earlier

PS. .18 life apps per agent per week. Killing it

 

[toolbelt]

You missed when he dropped the super secret success advice we have all been searching our entire careers for.........we would rather sell in a booming economy. That kind of insider knowledge would have made my career 10x better had I known it earlier

PS. .18 life apps per agent per week. Killing it

I'm sure by paying $40, one can get a ticket to the next Super Secret Success Summit Seminar Weekend Extravaganza Training School?

 

[toolbelt]

Re: Licensing Test Too Hard, Just Make It Easier, Says Primerica.

I'll get blasted for this but I can take it:

Good for Primerica....not trying to make the test easier but getting down and dirty and the ground level and getting people life insurance.

Overpriced? Yes. But if I died tomorrow I'm not too sure my wife could give a cr*p about what I paid.

Overpriced life is better than no life and what are YOU doing as a life agent to be VERY aggressive to get a ton of people covered. Or are you leaning back in your office chair trying to figure out how to write 2 policies a week.

Life sales have been in the decline for the past few years and to me it's simple - lazy agents. You see a lot of Primeria agents posting on this board? No - because they're working.

In a business based 99% on hype and 1% on damage control, how far would a Herbalife, Avon, Amway, Scentsy, etc Rep get on here discussing insurance in a factual way??

 

[WMSG]

Life-Insurance Licensing Test Is Too Hard, Biased, Primerica Says - WSJ.com

Apparently, only 20% of Primerica agents actually pass the licensing test. Since ~90-95% of agents fail out within a year, that means only ~1 out of 100 Primerica agents will be around for more than a year. Those pep rallies sure must be fun though!

The 20% surprises me, but in reality I guess it doesn't because Primerica "will take anyone" so to speak. As far as the % that fail at the one year point, I always thought it was about 80% to 90% depending on the company. I've seen a few Northwestern, NY Life, and Mass Mutual agencies that are lower, but they are more the exception than the norm.

That said, 20% pass? I wonder who is taking the test. It is pretty simple after the school/course.

 

[WMSG]

Re: Licensing Test Too Hard, Just Make It Easier, Says Primerica.

If Primerica actually sold insurance, that would be one thing. But how many policies are they putting in force every year, how many policies does the average agent write?

There is no point in comparing premium, with absolutely no permanent products, they aren't even in the same league when it comes to premium dollars. But with as many agents as they have, they should be putting in force at least as many as any big company, State Farm, New York Life, Northwestern Mutual, MetLife excluding worksite, etc. They really should be putting in force more than the next ten combined. No numbers, but my gut says they are probably no higher than 20 top in new policies issued.

Sure, the insurance company actually sells insurance, and they do sell some policies every year. The field force lives off of contracting fees and overrides.

You are right...premium dollars is a fallacious argument and benchmark.

 

[WMSG]

Re: Licensing Test Too Hard, Just Make It Easier, Says Primerica.

they have a good system. they recruit you... lots of rah rah, then they have you ,introduce your manager to your family and friends circle. he teaches you by selling them...oops, you failed your test...no commission for you.....next! if you pass, your warm market has already sold by your manager. now you recruit, and you and your manager go after the recruits warm market.. as the world turns

MLM...right? At least to some extent.

My personal experience with Primerica is that I've stumbled across a couple of their policies...and they never had waiver of premium. One of the people I met was uninsurable, had MS, and was heading toward a very difficult future. He ended up surviving the coverage. It was sad...and no, he never "invested the difference" or was able to save anything substantial.

 

[WMSG]

Re: Licensing Test Too Hard, Just Make It Easier, Says Primerica.


The license only gives you the "legal" privilege to conduct business. After licensing is complete, now comes the challenging part of becoming the consummate professional.

Agreed! After licensing...technically, it's then getting appointed, learning, training, and so on...and then becoming the consummate professional!

 

[WMSG]

Can anyone tell me how long it takes to know if you passed or failed the PA Life Insurance Exam??
- - - - - - - - - - - - - - - - - -
Can you tell me how long it takes, after you take the State Life Exam, that you'll know if you passed or failed?

I took the NJ life test in 1989...and you learned right there whether you passed or failed. I don't know about PA specifically.

 

[toolbelt]

That said, 20% pass?

The pass rate has been in the 14-16% range for a number of years, regardless of how many attempts are made. The licensed force turns over in the 34-36% range annually. Combined, the churn rate is about 60%.