Primerica recruits 90,000, issues over 90,000 policies in Q2

[Cornelius]

The Primerica debate has been going on since the 70's and it looks like the recruit to sell concept works for them.

I know they get them to sell products that don't require licensing. What they are... I don't know. Probably pre-paid legal services.

From what I know they sell a home alarm system. Legal plans and referral home and auto insurance.

It's rumored that they will soon if not now with some offices to offer med supps and med advantage plans by referral. If a license is going to be required I have no clue.

 

[fed up]

10000 new agents and 90000 new policies? How much was controlled business? BOD looks at the 90K new policies and says,"We all deserve bonuses". 10K new agents say ," I'm broke. I'm out of here" . 10000 more hired for next quarter and BOD says ," More new business on the way. Time for another bonus. Let's not look at retention of clients or agents"

 

[Life Hawk]

AL would be proud??

 

[toolbelt]

But those 90k policies are not for the new agents, or the newly licensed agents. It is for the entire salesforce of 132k agents.

So 0.68 life policies per agent for the overall salesforce. Not even 1 per agent. Abysmal.

It fluctuates but is historically less than 2.5 per agent per year, if you leave out the 40+k reps that leave each year, and don't subtract cancellations, and include policies purchased by their own people. The net gain per rep is about 1/4 policy per year.

 

[toolbelt]

Recruits may be considered those who filled out hiring packs. Last I heard it was $99 initial which includes licensing?

They've had sales such as 1/2 price or free to veterans over the last couple of years. Online access fees still apply.

 

[toolbelt]

Let's not look at retention of clients or agents

Is there a distinction????

 

[toolbelt]

looks like the recruit to sell concept works for them.

looks like the recruit to buy concept works for them.

 

[toolbelt]

It is for the entire salesforce of 132k agents.

But during that same timespan, 10k+ agents also left, so the number involved in that quarter was actually 142k+, which further reduces the average..

 

[toolbelt]

Recruits may be considered those who filled out hiring packs. Last I heard it was $99 initial which includes licensing?

$99 doesn't include licensing. It includes an attempt at passing the entry level state test.

 

[somarco]

Reminds me of a Billy Crystal / Robin Williams routine.

Billy - Lou Gehrig, You know, played for the Yankees. Died of Lou Gehrig's disease.

Robin - Wow. What are the odds of that?