Are Primerica Agents Allowed to Sell for other companies?

[latinlife]

So in that case it seems to eliminate pretty much any term policy except ART and 40 year term?

No ! I was selling same years term than Primerica's ( 10, 20, 30 years ) ..., the products I was selling were all terms policies too , but these ones had living benefits and the Primerica term didn't have it .. and I was allowed to sell those terms from another companies

...and by the way those term with living benefit products was cheaper than Primerica term ones ..PLUS gave me a lot more comission than Primerica ... so as I mentioned I just didn't sell the Primerica's anymore

 

[latinlife]

Just had a discussion online with a PFS agent. He stated that he could be appointed with 20+ life insurance companies. When I asked if that meant he could actually write a policy with another company I was told that he already answered it. I was hoping that someone here could give me a definitive answer to whether or not a Primerica agent can write a life insurance policy besides a Primerica policy (well I guess they could, but would they lose their appointment with PFS?).

For that específic point , the contract with Primerica is like any other contract that one can have as a Broker with any other life company ,, for example , you can have National life , American National , AIG and Primerica , all at the same time . Their appointment is not a captive one , but probably what happens with many of their agents, is that they think is not allowed and are afraid to ask their RVP anticipating a negative answer

 

[toolbelt]

For that específic point , the contract with Primerica is like any other contract that one can have as a Broker with any other life company ,, for example , you can have National life , American National , AIG and Primerica , all at the same time . Their appointment is not a captive one , but probably what happens with many of their agents, is that they think is not allowed and are afraid to ask their RVP anticipating a negative answer

Wouldn't that imply then that the only reason to join Primerica would be to have access to their products which you won't sell because they are not competitive?

 

[Allen Trent]

I appreciate the comments but it's getting a little bit off track. I'm just looking for confirmation that PFS agents are allowed to sell for other companies (as was implied by the agent I was talking with).

Look the guys license up on the state website & see what carriers he is appointed with

 

[jcorr]

He can be appointed with multiple life carriers because they can sell annuities through other companies.

 

[latinlife]

He can be appointed with multiple life carriers because they can sell annuities through other companies.

I was appointed at the same time with another carriers and didnt sell annuities I just sell all term life policies with that other carriers and they didnt cancel my appointed and that happens to many agents that I know . But it seems you dont believe it for some reazon .



Probably the guy is not appointed with nobody else because he thinks he can't and he doesn't want either , this is a multilevel company and they convince their newly licensed agents that their " unique" strategy with their products are the best for the clien. -they recommend to clients : buy term and invest with us the difference- ( the difference in price with an IUL or whole life for example) . , and convince them that any diferent products and estrategy, is not the right thing for the client .. so your friend can feel that you are proposing him something bad .

also Primerica pays for all license fees and course ,which is another reazon agents feel that the company " owns" them and can't sell from no one else

 

[latinlife]

Wouldn't that imply then that the only reason to join Primerica would be to have access to their products which you won't sell because they are not competitive?

Not me , but there are another reazons another agents have to join Primerica...this is a multilevel company and some people like that

 

[BibH]

I was about to say . 99% of people that join primerica are being sold on the get rich with mlm gig . I don't think wether the product is very competitive is of concern . But then again most successful regular agents become recruiters themselves . Go back on this board 5-6 yrs . Especially the fe agents . 90% recruiting now . By the way what's the top comp at Primerica? Got to be near 160% with such a loaded product and do many layers . Do they pay renewals ? Do mass mutual and Northwestern agents make 6-8% type renewals on whole life ?

 

[latinlife]

I was about to say . 99% of people that join primerica are being sold on the get rich with mlm gig . I don't think wether the product is very competitive is of concern . But then again most successful regular agents become recruiters themselves . Go back on this board 5-6 yrs . Especially the fe agents . 90% recruiting now . By the way what's the top comp at Primerica? Got to be near 160% with such a loaded product and do many layers . Do they pay renewals ? Do mass mutual and Northwestern agents make 6-8% type renewals on whole life ?

But only makes that money you said the successful recruiters .....like the RVPs and the high levels of the chain ( that got that high because recruited many people down them ) ... but the regular agents that " ONLY " sells their products start with 30 % comission

 

[BibH]

30% ? Your kidding me ? No wonder 97% fail the first yr .