GA asks if this will be your full time or part time business. If part time, they want to know your primary focus. Can't say anyone was ever denied a license for indicating they would work part time. Carriers ask similar questions in the appointment process.
The point is, prior to ALW and all the part time dufus agents running around, there was no pre-licensing class, no CE.
Not saying those things are bad, but they do weed out a few folks that think this is a fast buck business. Of course that didn't stop Tom . . .
they are the ALWilliams organization, Remember the Greenies? Aslo they inadvertantly caused the insurance industry to have mandatory CE.
This may have been before your time.
I remember Al Williams, but didn't realize about the mandatory ce.
Primerica has, for the most part, a bunch of part-time amateur agents running around selling a little bit of insurance.
Choosing to work with them would not be a great career decision.
[COLOR=red]PRI[/COLOR][COLOR=blue]MERICA [/COLOR][COLOR=black]has over one hundred thousand agents offering more than life insurance.[/COLOR]
Educating people, is key to their financial success.
Most agents just want to sell insurance, but not Primerica reps.
They offer much more than life products, like freeing up money to save for retirement, getting out of debt faster, the opportunity to make an extra dollar just to mention a few.
As far as part time agents, [COLOR=red]PRI[/COLOR][COLOR=blue]MERICA [/COLOR][COLOR=black]is still the #1 producer in USA and other countries for life insurance.[/COLOR]
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When companies can not compete they condem, why is that??
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Originally Posted by carol369
I remember Al Williams, but didn't realize about the mandatory ce.
Nothing wrong with education that I can see.
Keeping up with the laws that change is a good thing.
Last edited by racjac : 05-29-2009 at 07:48 PM.
Reason: Posts merged
No one is disputing that Primerica sells a lot of term life insurance. While all the rah rah we're #1 is great for the company is it best for the rep? The average Primerica rep back when I was in it in the mid 90s was 1 1/2 policies a year. It may be higher or lower now. So it's a lot of agents selling a little. Personally I'd rather sell 100s of policies myself from companies who are highly rated and not the #1 seller of term life. I do love it when I run into a Primerca policy. I say I agree with everything they say about buy term and invest the difference, but why not buy cheaper and invest that difference too?
You know what they say, you get what you pay for.
For the most part that still holds true.
[COLOR=red]PRI[/COLOR][COLOR=blue]MERICA [/COLOR][COLOR=black]has over one hundred thousand agents offering more than life insurance.[/COLOR]
Educating people, is key to their financial success.
Most agents just want to sell insurance, but not Primerica reps.
They offer much more than life products, like freeing up money to save for retirement, getting out of debt faster, the opportunity to make an extra dollar just to mention a few.
As far as part time agents, [COLOR=red]PRI[/COLOR][COLOR=blue]MERICA [/COLOR][COLOR=black]is still the #1 producer in USA and other countries for life insurance.[/COLOR]
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When companies can not compete they condem, why is that??
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Nothing wrong with education that I can see.
Keeping up with the laws that change is a good thing.
I will admit this Primerica has a good concept in that you gather information and present a plan to reduce debt, cover obligations with insurance, invest for the future. The problems lie in the fact that your mortgage products has high interest and when I've seen it presented it is normally hidden by comparing a bi-weekly payment next to a monthly and saying that the interest rate doesn't matter because the payment is less...but its less because of the extra months payments not the interest...The insurance products are higher priced without options that come withother companies products ie conversion options and finally even though Primerica might have over 100K reps they have few Registered Reps and many people do not follow through on the investment aspects. The ability to make a dollar buy entering the insurance field the problem here is there is nothing wrong with entering the insurance field it can be a very rewarding profession the problem I have run into is the people that are RVPs and training new agents have only been with primerica they repeat the same things they were told back in the 80's and 90s there is no idea of what else is out there and how the products underperform for people...Do you believe there is a reason you don't see successful experienced agents join Primerica (and by this I mean agents who work full time in this profession and are successful and then join Primerica).
How many clients actually DO buy term and invest the difference?
How many clients actually DO retire debt free?
Somarco I totally agree with your feeling with Primerica and they do spout these things but you can work with clients and they will disregard advice buy toys and rack up debt and not retire debt free that is not Primerica's fault nor is it the fault of any advisor people need to want to be debt free and I would say many people we work with and provide insurance too don't care for that goal. My biggest problem is when a primerica agent spouts off something like you get what you pay for trying to make a client think that since Genworth may be less expensive it offers less protection then a similar face value and length policy from Primerica when it probably has a longer guaranteed level premium and conversion options.
I will admit this Primerica has a good concept in that you gather information and present a plan to reduce debt, cover obligations with insurance, invest for the future. The problems lie in the fact that your mortgage products has high interest and when I've seen it presented it is normally hidden by comparing a bi-weekly payment next to a monthly and saying that the interest rate doesn't matter because the payment is less...but its less because of the extra months payments not the interest...The insurance products are higher priced without options that come withother companies products ie conversion options and finally even though Primerica might have over 100K reps they have few Registered Reps and many people do not follow through on the investment aspects. The ability to make a dollar buy entering the insurance field the problem here is there is nothing wrong with entering the insurance field it can be a very rewarding profession the problem I have run into is the people that are RVPs and training new agents have only been with primerica they repeat the same things they were told back in the 80's and 90s there is no idea of what else is out there and how the products underperform for people...Do you believe there is a reason you don't see successful experienced agents join Primerica (and by this I mean agents who work full time in this profession and are successful and then join Primerica).
Your right their interest is higher because they make their money on the front of the loan. Difference is they use simple interest not a fixed interest. Therefore saving the customer money in the long run. As far as succesfull people joining Primerica there have been many, dont know all of them personally but have met quite a few.
But there you go thinking Primerica is just an insurance company. Diversification is key, by that I mean offering more than insurance. Werent you ever told dont put all your eggs in one basket??
Same thing applies here.
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Originally Posted by somarco
How many MDRT producers with PFS?
How many clients actually DO buy term and invest the difference?
How many clients actually DO retire debt free?
Not near enough
There is still not enough Primerica reps to service those who need help.
Im afraid I dont know what MDRT stands for, sorry
Last edited by racjac : 05-29-2009 at 08:29 PM.
Reason: Posts merged
Your right their interest is higher because they make their money on the front of the loan. Difference is they use simple interest not a fixed interest. Therefore saving the customer money in the long run. As far as succesfull people joining Primerica there have been many, dont know all of them personally but have met quite a few.
But there you go thinking Primerica is just an insurance company. Diversification is key, by that I mean offering more than insurance. Werent you ever told dont put all your eggs in one basket??
Same thing applies here.
I'm not going to go into your whole simple interest approach saves people money over an ammortized loan. I never said Primerica was just an insurance company, I've mentioned the loans in this post the B/d in others...and I've met succesful Primerica Reps but and this is by no means definative you won't find successful primerica reps that started there careers elsewhere and found something better in a move to primerica, all I'm saying is if you keep an open mind instead talking down about other term products and always talking about whole life like its the only thing being sold other than primerica reps selling term you would find that there are better policies out there for your customer that offer everything a primerica term policy offers in addition to other options and at less cost to the consumer...I don't know why I'm writing this I'm not licensed in Missouri so will never run into your customers and be able to show them a better plan and I probably won't convince you to keep an open mind.
I believe all of us educate our clients, so I don't think you can say anything about that. And what do you mean, "You get what you pay for?" When you sell an A+ rated carrier that is not only cheaper, but also backed by the same state guaranty fund in case something happens to the company, how exactly is that less secure (or whatever you were trying to imply) that Primerica.
I'm not saying they don't do good, I'm just saying taht they're not always the right fit. They're not always the best value. I sure hope you're not so arrogant as to think Primerica is the right fit for everyone....then again, based on your posts, maybe you are?
Your right their interest is higher because they make their money on the front of the loan. Difference is they use simple interest not a fixed interest. Therefore saving the customer money in the long run. As far as succesfull people joining Primerica there have been many, dont know all of them personally but have met quite a few.
But there you go thinking Primerica is just an insurance company. Diversification is key, by that I mean offering more than insurance. Werent you ever told dont put all your eggs in one basket??
Same thing applies here.
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Not near enough
There is still not enough Primerica reps to service those who need help.
Im afraid I dont know what MDRT stands for, sorry
So if you're totally committed to a buy term and invest the difference company that also has mortages and mutual funds and debt reduction and is built on the multi level marketing concept. Why didn't you go with Capital Choice Financial instead of Primerica. I'm not endorsing them, but compared side by side they offer better insurance companies and have a better compensation plan. Or do you just like the big Citi name and the size of the company?
SSHHHHHHhhhhhhhhhHHhuuushh!!!! The sign on fee is four-hunnerd..no wait! FIVE-Hunnard!! Cash Only!!!
Your all wrong, The sign on is $99 with that they pay for your testing and your license along with your securities license. Not to mention there are background checks, yes they do background checks. Dont want any felons messing with peoples moneydo we?????
Your all wrong, The sign on is $99 with that they pay for your testing and your license along with your securities license. Not to mention there are background checks, yes they do background checks. Dont want any felons messing with peoples moneydo we?????
I think if you read the fine print the $99 fee covering everything is conditional on you taking your upline recruiter to your friends and family and selling "X" number of policies and "X" thousands of dollars in commission. Then your upline reimburses you for your licensing fees upon successful completion of you passing your exams. If you do the math it costs you thousands in lost commission. But if you were good at math you wouldn't be in Primerica.
I want to give an honest opinion. Primerica is not for everybody. It is not geared towards everybody. It is not geared towards the normal insurance agent. It is geared to those who want to make part-time money to supplement their full-time income. Primerica markets differently than every other insurance company that I know of, but in my opinion I don't think that makes them a "multi-level marketing company." They're organization is set up just like Allstate's. Independent agents who are captive and can only market Primerica's products. Doing some research on Primerica, you'll find that the Life Insurance industry has been trying to put them out of business since they first started as AL Williams. So frankly, I don't think you can get a straight forward answer as to the opportunity or products they offer from a person involved with another insurance company. Sorry, I'm being frank. I've met many of their agents, some are quite annoying. Some are quite friendly. Just like any company in any industry. As for their products, I've seen few companies that beat them. They are out there, but they are by in large, few and far between. If your clients are looking for price, sure everybody can beat them. If you're looking for value and quality, I really don't think many can beat them. Now, of course there will be people who don't agree with my opinion, and that's fine. But that's been my experience with my encounters with them. But, yes, please stay away from the stupid, hounding people who discredit you and your life because you're not willing to get involved with them. That's not a wise decision in any aspect of life.
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