- Thread starter
- #11
Primerica a Good Play?
- Thread starter LuisB
- Start date
- 2,094
They do not really have a wonderful reputation around here.
- 8,707
Why would they...When ever anyone with knowledge of the industry asks a question of a Primerica rep their answer is not correct in regards to what the rest of the industry is doing and is even incorrect in regards to thier own procedures.
I stopped in and spoke with a RVP in Lewiston Maine and he told me the following:
1. They had the best annuity on the market as it was the only annuity that had a surrender charge that delcined over time and did not require annuitization. ( I did not bother to tell him I knew of and sold multiple annuities from multiple carriers with shorter surrenders and higher interest crediting)
2. He told me that thier brokerage account recieved special discounts he says if an agent sells 25k of American Funds and and 25k of Aim funds they would get only the 25k discount on A Shares but if sold through Primerica they would recieve the 50k discount on both American and Aim funds. I asked him to get how this works and he called the home office and asked them to explain to me how it works. The home office explained in essense he was an *** and it did not work the way he described the customer would only recieve the breakpoints from the individual fund families they were entitled to ie 25K on each.
I have mentioned this many times. Also for anyone thinking they must start at the bottom and work thier way up a RVP has the authority to place someone brand new at the level right below them with out having to get anyone's approval I was offered that level if I wanted to come on board.
That is to put it mildly.
- 181
Anyone remember when they first changed their name and most that worked for them called it Prime America?
I talked to one of their reps yesterday. I sure was thinking about dropping my UL to buy some term and invest the difference.
Or maybe I was recruiting, I forget.
I'm not defending them in the least, but how are they "scamming" people?
I wouldnt call it scamming more like disservice to clients. Their reps are told that they have the best term insurance out there but reality is not. They will sell you a 30 year term but the premium is only guaranteed for 20 years. While other companies is cheaper and guaranteed premium for the whole duration.
How is being dishonest not scamming?
mercedes350
New Member
- 8
Why not offer your clients Term with Living Benefits or an IUL with Living Benefits? PrimAmerica is not for everyone......
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