Have you ever worked with or used Primerica for personal finance needs?
tressiepoo asked:
I recently went to a presentation for Primerica and had an interest in starting as a part time agent. I would love to see if anyone has had any personal experience that they could share that might be enlightening or beneficial to me. Please don’t hesitate to share positive and/or negative info.
Clifford
I recently went to a presentation for Primerica and had an interest in starting as a part time agent. I would love to see if anyone has had any personal experience that they could share that might be enlightening or beneficial to me. Please don’t hesitate to share positive and/or negative info.
Clifford
January 9th, 2009 at 9:46 pm
Primerica is great as long as your selfmotivated and are truly interested in helping people and your not just there for the money I know a few primericans and they do it full time one is loaded and the others I know have quit their regular jobs and live off of primerica. I have also attended their meetings and think its great
January 11th, 2009 at 9:23 am
RUN! Run away as fast as you can.
Primerica uses a cookie-cutter, one size fits all regardless of the customer’s needs, goals and situation.
Go talk to a financial planner and you will learn that there are so many different situations that customers could be in. Primerica’s approach serves only Primerica.
Additional comment:
Visit and search the discussion board on Primerica. You will find endless posts on the topic and most of the thread discuss the sub-optimal strategies that Primerica preaches plus the overpriced products they offer.
January 11th, 2009 at 10:09 pm
There is many positive and negative feedback on any company. Just you, do you believe in what they do can help you, your clients and other people?
Primerica does INS and INV seprartely.
There is another company combine INS and INV together, take advantage on tax.
You might take a look at worldfinancialgroup.com to compare.
They are all great companies, just different concept. Email me if you have any question.
January 12th, 2009 at 3:06 am
I work part time there while working full time at another job. The company is absolutely amazing. There has only been a few complaints (about 30-50 a year, but mostly about the business opportunity) out of 6 million clients. Primerica is the only company out there that educates people about various financial products and they do it for free. Such as life insurance, mortgages, investments, and why planning for retirement is important. What we do is a noble thing. There’s no company out there that is helping the middle market. Its like all the other companies want to make them stay in debt forever and buy the most expensive life insurance product there is and make them broke when they retire. If they do want help, they have to pay lots of money. Primerica does not charge money when people seek help.
Primerica is primarily made up of middle class citizens who are sick of being pushed around by big corporations and sick of being lied to. Every person who started in this company wants a better life and that is your opportunity there. To live a better life and help other people out.
It is important to let your friends and family what you are getting involved in. You can setup an appointment with anyone that is married or you can invite them down to the office. Some will help you out and others will stay away from you because they don’t understand it.
If you do join, it’s going to be very difficult and may take awhile before you become a RVP. Why? People will quit on you, people will criticize you, you probably won’t make much money at the beginning, people are going to try deny your dream of being successful person. But you know what? Every person in the company goes through the same crap. Some can handle it and others can’t. Winners never quit and quitters never win. The choice is up to them.
You will hear or read about many other crazy statements. Such as, “Primerica is a pyramid scheme.” A pyramid scheme involves a new recruit paying the recruiter to join an organization. It may also involve the new recruit to buy products in order to join. Primerica does not do this. You are paying $199 to get yourself licensed. When you recruit somebody and they get licensed, you will get paid when this recruit makes a sale. Every business is structure this way, whether it is in real estate or in a restaurant. Everytime a waiter serves somebody, not only the waiter makes money, so does the owner. Is that a scam? No. It’s called a business and this is what makes Primerica unique than all the other financial companies. If you work with other financial companies, you get paid a salary and some commissions. You probably can recruit a couple people to help you out. And you have a monthly quota to meet. At Primerica, there is no quota, you can recruit as many people as you want, and there’s no income cap limit. The top paying producer in this company makes $4.9 million/year. There’s about 53 people in this company making over million a year, but these people been in the company well over 10 years.
Another one you might hear is that PFS products are expensive. That is absolutely false. Primerica does not want clients to spend more than what they were currently spending. All we do is move money around. For example, if you are spending $2000/year on a cash value life insurance, you can spend $1200/year with Primerica Life 30 year term. With the extra $800, I would recommend that you invest into your future. Primerica works with various mutual fund companies such as Legg Mason, Fidelity, Van Kampen, Oppenheimer, etc. Primerica does not charge any broker fees to do investments through them.
Then you might get this objection with investments: “Its all loaded funds.” Of course it is. This means there is a sales charge when you buy class A shares. When people speak of no load funds, that means there is no sales charge. That may sound great, but overtime, expenses on no load funds are always higher than loaded funds. These expenses comes out of your portfolio, which affects your rate of return. You can learn all this by reading a Series 6 book.
Anyway, you are going to deal with lots of negativity when you join. But if you don’t quit and continue to do the work, you will eventually become a RVP and all the crap you dealt with is well worth it.
January 13th, 2009 at 9:49 pm
I do not recommend them
January 16th, 2009 at 8:29 am
I do not recommend them. If you are interested in the insurance business, get your license and become an independent agent. The commissions are higher plus you are immediately vested. Primerica’s products are overpriced plus they sell loaded mutual funds. The people I know who were involved with Primerica seemed to be seduced by all the money being flashed around by the RVPs.
January 16th, 2009 at 7:37 pm
I have been solicited by Primerica, but didn’t have a good feeling. My in-law worked for them. Not good. Never really made any money. They operate much like a pyramid scheme. Get your friends to buy and recruite them to work, then you make more money. Up to you, but I haven’t heard a lot of good things.
January 18th, 2009 at 6:14 am
Excellent answer, Obe231 !!! I agree with just about everything he said. My husband and I are new team members with Primerica, and we’re very excited to get going and help as many people as we can.
January 21st, 2009 at 12:15 pm
This company is not worth working for in any way. The products they sell are marginal at best on a benefit basis and the prices they sell for are the highest in the industry. The mainly want part-time agents is because they want you to sell to your friends, neighbors and relatives and then after you exhaust your “circle” of influence and find out how hard it is you will quit and they will retain those policies on the books (even if say 50% cancel and 50% retain those policies they make out big time). And your compsenstion on those policies is a fraction of what you would get with another life company (the ones makes the real money are those at the top of the pyramid, and yes, this company is like a pyramid scheme, the only winners are those at th top). I wouldn’t waste your time even considering this organization (even though they will do all the rah rah things and tell you everything you want to hear to get you to be an agent for them…most of what they tell you won’t actually be true or very few can obtain the results they spout as part of their recruiting practice).
Run, run away from this organization, it will be the best move you’ve made.
January 23rd, 2009 at 8:59 am
Primerica has a great set up if you are new to the business. I would recommend you learn the trade from them. After you spend a few months, you can do better with better products that are more competitive than what they will offer to consumers. You can also make more $$$ outside of Primerica.