Are Primerica Agents Allowed to Sell for other companies?

[WinoBlues]

Yeah, stick to the tropic!

 

[Ghost]

Whole life policies are guaranteed. The death benefit, the cash values, the cost of insurance are set in stone and rock solid.

Whole life may not be magical, but my goodness if you do not look at a well designed over-funded or max-funded whole life and not think to your self, "My goodness that is amazing!" then you just do not know the product well enough.

True story: What started me on this road was watching a very convincing presentation by another agent about how to use an IUL to fund a tax-free retirement. It was a wonderfully pretty presentation. But, being a motor head, I went and lifted up the hood. Oomph ... rubber bangs and hamster wheels and the hamsters had been replaced with caterpillars ill-equipped to perform the job expected of them and who would soon abandon their post anyway.

I am telling you, it is just a trickle thus far, but the stories are starting to land in the insurance agent discussion groups on Facebook about IUL policies not doing what the agent told the client they would do. But this is how it has started with each generation of IUL's starting with Transamerica's first innovative product in 1997. It starts with a trickle, then the dam bursts. Then the lawsuits are filed.

Did you know you can carry more than one E&O policy?

For the last 12 years, the stock market has only gone up year over year. Give it time.

"Whole life may not be magical, but my goodness if you do not look at a well designed over-funded or max-funded whole life and not think to your self, "My goodness that is amazing!" then you just do not know the product well enough."

Please just stick to the topic and not about how wonderful Wholelife policies are.

 

[Ghost]

What if they decide they want to sell a cash value permanent product offered by another company?

The issue is that Primerica agents say that all cash value policies are "trash value", so you'll never find them considering offering a cash value policy.

 

[Allen Trent]

Please just stick to the topic

Which topic? Threads like these, just like most politicians answers, are ever evolving & go in different directions to follow the data & science as it mutates & evolves with each additional data point added, peer reviewed & fact checked

 

[rousemark]

Yeah, stick to the tropic!

Great abs!

 

[DayTimer]

Please just stick to the topic and not about how wonderful Wholelife policies are.

You sure are new around here.

 

[DayTimer]

Great abs!

Look at you! Tech savvy and an eye for ... fitness!

 

[rousemark]

The issue is that Primerica agents say that all cash value policies are "trash value", so you'll never find them considering offering a cash value policy.

Yeah ... but what if one strays from the company spiel and writes a WL with another company? Then what?

 

[Allen Trent]

Yeah ... but what if one strays from the company spiel and writes a WL with another company? Then what?

They sell cash value life. It is just in the form of mlm fees & overpriced term insurance. The cash value part is held by the company as profit unlike building value for the client

 

[MTC]

To answer the original question I don't think so. Although one of the Primerica agents did say he used other companies, they are as captive as anyone. He just didn't read his contract. It might have changed but I don't think so. They even have a 2 year non-compete in their contract so if you leave you can't take your people with you or they will threaten to sue. Simply stated, if they're selling other products that aren't on their platform, they're not supposed to or haven't been caught.