I Just Started at Primerica. Looking for Advice.

Attribute the charge as a "convenience fee", "processing fee", "lapse assumption" or whatever; however, and regardless how "low" it may appear as a dollar cost per month, the $$$ still travel from the consumer's wallet to the company's coffers. All I am trying to get at is that the effective rate (or at the very least, the APR) should be disclosed to consumers. Life insurance is a financial instrument. Would the same company who charges an APR of 29.747 (effective annual rate of 34.157) provide the consumer with the option to buy a CD or MF with a guaranteed return equal to those figures? Rhetorical question indeed but a matter to be kept in mind.
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BTW, As to the cost involved with "touching payments 11 times more per year" these are minimal, particularly when done electronically and automatically. I highly doubt that 11 or 12 automated electronic debits cost the company more than the wholesale price of the paper cup of a Starbucks latte - if even that.

You highly doubt meaning you don't know right what it actually costs. Does it cost what they charge I agree that I highly doubt it.
 
Primerica was started by a man named A.L. Williams. He was imprisoned for fraud. End of story.

Art didn't go to prison for fraud. He never went to prison. Art Williams basically took on the industry and won. He has a few videos on you tube. The big issues agents have with Primerica is they are mostly part-timers, they only sell term and their MLM compensation structure even though other agents basically hire other agents under them.

As for making money yes a person can make some great money there but you have to sell out to there program and recruit and just stay in their target market.
So in short if you do go there they are not a scam or fraud. They just have their way of doing business which is for some people and not for others.
 
You highly doubt meaning you don't know right what it actually costs. Does it cost what they charge I agree that I highly doubt it.

It appears to me that you meant to say that we don't know what the actual figures are for the cost incurred by insurance companies to run their electronic collection of monthly fractional premiums. If so, agreed. They don't publish that info. Neither do the banks and other lending institutions publish their costs for automated electronic debits to borrowers accounts to collect monthly mortgage or personal or business loan payments. They do, however, disclose the APR, and so should insurance companies.
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Aside and separate from the above:
Below, please see the payment schedule for the previously referenced Primerica example where the annual premium is $665.00 and the monthly fractional ("mode") is 63.18. Since the 1st "monthly" premium payment for the policy year would be due at the same time as the annual premium alternative, the first $63.18 payment is akin to a "down payment", leaving 11 equal monthly payments of the same $63.18 amount. (By entering the figures for the principal being financed ("Initial Mortgage/Loan"), the frequency and amount of payment, and payoff period, the software is used to iterate for the APR and effective rate, and to create the schedule):

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C'mon c'mon, "AboutThatLife", now you say "attributed" to you... Wasn't it you who posted this text:

" Do you even math?

$665 annually or 758.16 on the monthly option. That's about 13%. I have no idea how you are getting these numbers.

Edit: I still disagree with subtracting the first premium payment. It's not financing, it's just extra admin fees being tacked on. Those fees start from the first month the premium mode is selected.
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If it was you and if you believe in the veracity of the above text then what's your problem. I needed some text to counter my position and your posting is perfect for that purpose. Let the readers form their own opinions

The problem is you are using my statements to make money and you are calling me uninformed in the process. Like I said, the contract does not mention an APR, the contract is the legal document, not your words.
 
I am a licensed agent through Primerica; however I have since backed away from the office where I was licensed through. The reason being that the turnabout for getting clients who wanted to deal with the stories that they have heard about the company became a big turn off for them and people were very leary.

They for the most part presented the pretty picture of trips and luxury vacations, while this is a nice incentive. I am more concerned in creating an independent yet lucrative income.

However I still want to pursue an career in Life Insurance Industry. What advice could someone give me. I am currently residing in Sacramento, California. Could anyone point me in a direction to make good use of my Insurance License?
 
Primerica is one part insurance/99 parts mlm. The product is inserted just to make it legal. Over 1.5M have been recruited since 2009 alone, yet their sales force remains at 100,000 reps, give or take what day of the week it is. In Canada at least (but with the same training system), Primerica has ranked last out of all training companies the last 10+ years. In most cases you will be taught just enough to pass the general test, after which all training will strictly be on their products and recruiting.
 
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