Primerica - What's the Catch?

[Golfnut2112]

Okay, I am going against the grain here.

The only reason Primerica is here is because of the really poor job the insurance industry did at offering term insurance. Back when I started everything was Whole life or VUL, if you had a term option it was increasing or decreasing premium term or a 5 year level term. A.L williams really stirred things up and I think for the good. I have never been affiliated with them or known anyone who has, I think they would have been more of a powerhouse if not for their screwed up marketing. Also I agree with them about borrowing money from your policy, which to me makes no sense at all, and all the reasons companies give for this is BS. I love how complicated they make it, you can borrow your money a x% and we will credit back x%, its like WTF if it's a 1% net just charge me 1%.

 

[Cash]

imgur.com/MXFcJyt

Prettier than me.

I'd offer her 60% and tell her mom to take a hike..... now that you are more smarter about IUL and all.

 

[WMG]

Okay, I am going against the grain here.

The only reason Primerica is here is because of the really poor job the insurance industry did at offering term insurance. Back when I started everything was Whole life or VUL, if you had a term option it was increasing or decreasing premium term or a 5 year level term. A.L williams really stirred things up and I think for the good. I have never been affiliated with them or known anyone who has, I think they would have been more of a powerhouse if not for their screwed up marketing. Also I agree with them about borrowing money from your policy, which to me makes no sense at all, and all the reasons companies give for this is BS. I love how complicated they make it, you can borrow your money a x% and we will credit back x%, its like WTF if it's a 1% net just charge me 1%.

I'll only speak to this one specific issue -- if you are referring to whole life insurance, the fact is the insurance companies do not make it complicated; because the statement is not true. If the loan interest rate is 7%, and the dividend is 6% -- it is absolutely not true that it is a 1% net charge. Unfortunately some agents may portray it that way, but it is incorrect and a misrepresentation of facts.

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Okay, I am going against the grain here.

The only reason Primerica is here is because of the really poor job the insurance industry did at offering term insurance. Back when I started everything was Whole life or VUL, if you had a term option it was increasing or decreasing premium term or a 5 year level term. A.L williams really stirred things up and I think for the good. I have never been affiliated with them or known anyone who has, I think they would have been more of a powerhouse if not for their screwed up marketing. Also I agree with them about borrowing money from your policy, which to me makes no sense at all, and all the reasons companies give for this is BS. I love how complicated they make it, you can borrow your money a x% and we will credit back x%, its like WTF if it's a 1% net just charge me 1%.

In addition, I agree -- AL Williams/Primerica succeeded to whatever extent, in part, because the industry was turning a deaf ear and not portraying term insurance properly, was focusing more on alternatives, new types of policies, etc. When UL first hit the marketplace -- term insurance was a forgotten product and people were jumping on the UL bandwagon. The byproduct is that there was an opportunity. Quality companies would have been better off properly using, marketing, and portraying term insurance when applicable. Good points.

 

[Golfnut2112]

I was talking about the preferred loans on UL policies. The whole life loans are really bad