Continue reading the Original Article.
While they reported issuing 291,918 new policies during 2022, their policies-in-force increased from 2,885,963 to 2,896,667 in 2022, a net growth of only 10,704 policies-in-force (which would also include the 291,918 new policies issued during the year). Anybody good with math? lol
While total policies issued amounted to 291,886 for the year, they began the year 129,515 licensed reps, and added 45,147 licenses during the year, for a total of 174,662 individuals on their force at some point in the year. When all was said and done, the net policies-in-force gained during the year amounted to 10,704. In addition to their licensed force, they added 359,735 recruits to those remaining from the year previous, who not only "bird dog" for the licensed force, but also offer a qualified buying market for the products sold.
With a focus on an Increasing Benefit (and Premium) Rider, typically in the 10% per annum range, organic growth was likely closer to 4%.Insurance Forums Staff submitted a new article
Term Life Face Amount Up 14% Year Over Year at Primerica
Continue reading the Original Article.
