At some point will Primerica add FE?

[toolbelt]

We were recognized on the Forbes 2015 list of Most Trusted Financial Services CO’s. & we are a part of Fortune 1000!

The Forbes recognition was based on data culled from MSCI ESG Research. It basically recognizes the profitability of your corporation, a large part which is achieved by having an underpaid salesforce that also pays to join, train, have online access and consumes the products. As a side note, MSCI stands for Morgan Stanley Composite Index. Morgan Stanley, coincidentally, holds institutional interest in Primerica's shares. The award is nothing more than a self-serving promotional tool.

As for Fortune, they are now owned by a Tai businessman. And lest we forget, Fortune voted Enron "America's Most Innovative Company" for six consecutive years.

 

[Cornelius]

KathiMR you can go to you tube to do some research on Life Insurance Living Benefits and Final Expense compensation to get a general idea of potential income left on the table with just a referral.

 

[Edwardfin]

I think collectively we all agree that there are companies in our industry that give our industry and bad name. The question is what can we do to stop or slow some of this nonsense down.

 

[WinoBlues]

Primerica is my go to position for leads if I am having a slow week or I am on internet flying overseas. You just find someone who is an ex-Primerica agent. Try to figure out from their linkedin or facebook profile who they may have sold expensive term including themselves before they quit. You should get about 3 to 5 good leads from an ex-primerica agent.

I used to go to the little fast food restaurant by one of the PFS offices and get into a conversation with them. I would collect cards and cell numbers. Connect with them and wait for them to get hungry. The good ones I would recruit and help them replace the overpriced term with the built-in annual increase. The guys that never should have been offered the 'opportunity' I would rewrite them and all the family members.

Here is the thing, many of the agents did not sell themselves. Their 'managers' would tell them they could not sell what they did not own and believe in. And they would need their policy to show that they trusted PFS. The managers would also sell as many of their warm markets during the 'training' meetings. they were brutal.

This is all in my own personal past experiance. I am sure it is different now.

 

[rousemark]

I used to go to the little fast food restaurant by one of the PFS offices and get into a conversation with them. I would collect cards and cell numbers. Connect with them and wait for them to get hungry. The good ones I would recruit and help them replace the overpriced term with the built-in annual increase. The guys that never should have been offered the 'opportunity' I would rewrite them and all the family members.

Here is the thing, many of the agents did not sell themselves. Their 'managers' would tell them they could not sell what they did not own and believe in. And they would need their policy to show that they trusted PFS. The managers would also sell as many of their warm markets during the 'training' meetings. they were brutal.

This is all in my own personal past experiance. I am sure it is different now.

No, it is not...

 

[WinoBlues]

How long had you had the VA? Was there a surrender penalty?

 

[Cornelius]

One issue that isn't just with PFS but with some other MLM based companies is the contract reading if a person wants to leave.

Most no one fully reads the agent agreements and as new green agents they wouldn't know what they are reading anyway..

I have talked to agents in the past who wanted to leave companies for other opportunities but just didn't want to start over building a team as they couldn't take anyone with them.

Sure there's the rah, rah stuff but at the end of the day it's business. Once an agent leaves a company the company let's them know what their rights are and what limitations are for the agent.

Nothing personal it's business.

 

[toolbelt]

I am sure it is different now.

The entire MLM industry depends on internal consumption for its survival. Some MLMs have monthly product purchase quotas, some have online access subscription fees. The end result remains the flow of money from the selling force to the corporate office.

 

[toolbelt]

One issue that isn't just with PFS but with some other MLM based companies is the contract reading if a person wants to leave.

Most no one fully reads the agent agreements and as new green agents they wouldn't know what they are reading anyway..

I have talked to agents in the past who wanted to leave companies for other opportunities but just didn't want to start over building a team as they couldn't take anyone with them.

Sure there's the rah, rah stuff but at the end of the day it's business. Once an agent leaves a company the company let's them know what their rights are and what limitations are for the agent.

Nothing personal it's business.

All MLM contracts contain the clause that the contract can be cancelled by either party without notice, and if you feel wronged, there's also a clause preventing the use of labor laws or even legal proceedings, instead being forced to go the mediation route. So if you feel you were stiffed $40, it's a simple matter of flying across the country at your own expense, typically to the domicile of the corporate office, and pleading your case while sitting across from a team of top corporate lawyers. Good luck with that.

 

[MTC]

One issue that isn't just with PFS but with some other MLM based companies is the contract reading if a person wants to leave.

Most no one fully reads the agent agreements and as new green agents they wouldn't know what they are reading anyway..

I have talked to agents in the past who wanted to leave companies for other opportunities but just didn't want to start over building a team as they couldn't take anyone with them.

Sure there's the rah, rah stuff but at the end of the day it's business. Once an agent leaves a company the company let's them know what their rights are and what limitations are for the agent.

Nothing personal it's business.

Correct. Years ago I was with them and left to open up my own agency. Many people left and wanted to join me without me even recruiting. Primerica threatened to sue me because I apparently signed a non-compete. Read your paperwork.