Primerica Guarantees

[toolbelt]

Robert Kiasaki

Robert Kiyosaki, Mesiah of the MLM industry, sells his books using retail and online methods, not via MLM. That should tell you all you need to know. His only actual MLM experience was being a complete failure at Amway. He makes his money From, not Via, MLM, by targeting those failing at MLM, an industry designed to produce failure.

 

[toolbelt]

Donald Trump said that this business structure is the way of the future.

Donald Trump paid a $25M fine for running his pyramid scheme university. He was also paid millions to speak at ACN conferences and conventions. Coincidentally, his daughter peddles her fashion lines via retail. I can only assume they don't chat much.

 

[toolbelt]

but their goal is to leave a person in a better position than before they saw the client

To a caveman, even a square wheel seemed like an improvement?

 

[toolbelt]

if the PFS product was a quality product, the average PFS licensed rep would sell more than 1 new life policy every 5-6 months from their own quarterly & annual reports.

Note that is before cancellations and could include the policy they were sold upon joining. It's also based on the "average" daily force size and not the actual count of all reps with them at some point in the year, which inflates the disclosed averages by 36+%.

 

[toolbelt]

Warren Buffett

While Warren Buffet may have invested in Pampered Chef, you will not find him running a cookware booth at a flea market. WB is simply aware that having a low paid selling force, that not only pays to join, but also buys the products, is very profitable...for corporate.

 

[Robert Barney]

......prematurely, making the benefit of term unsuitable for most who live a typical lifespan.

What are you saying? Term is a bad idea because most policies don't pay a death benefit? Really? Did you think, at the super low prices for term insurance, that most of them do pay a death benefit?

Am I misunderstanding your point?

Question, when was the last time your house burned down? Most peoples houses have never burned down. My house has never burned down. Given those facts, I guess you would have to be an *** to buy house insurance.

NOTE: I have never been without house insurance. Somewhere, someone's house burns down. It just doesn't happy that often which does NOT mean it's a bad product.

 

[Denise in Florida]

To those who assume I am new - I have had an insurance license since 1991. Your assumption is incorrect. I intently watched the videos posted here - the information is inaccurate. And YES - I have a LOT of securities business! There is no reason for a client to deal with an agent who promotes whole life when they speak to me. I give them MORE and they make MORE. The quote I posted was for standard rate - I am not going to spend my time going through the rate books. HOWEVER our premium rate is about $20/month less or more. We have a built in critical illness rider, a blanket policy for families which keeps the cost down by combining the death benefit amount. We also insure at a level rate up to 70 - it's not 20 years or anything else posted here. It's 70 and then it converts to term at 5 year intervals - but the purpose of insurance with Primerica is to replace insurance with their investments. If a young family needs $500K in insurance, it would take several years to accumulate that in their investments so they keep paying premiums and adjust the benefit down as their investments increase. We don't just write insurance - and you all have criticized me for this - however, in this day and age, the trend is that people want to make one phone call, one meeting, one check - they want everything in one place. Look at EXP Realty who has a suite of services and are the largest real estate company in the country. Or if that doesn't convince you, look at Walmart, Sam's Club, Costco, etc. One stop shopping is what the public wants. I offer EVERYTHING financial so that my clients receive everything in one place. I don't just sell insurance. I don't have to! We just started wholesale mortgages this year and this month we have added Senior Healthcare.

Also, if you come to Primerica with a book of business you are added at a higher commission rate. I receive money every month from other people I brought into the business and also those they brought into the company. Insurance isn't an easy sale - but of every 8 appointments I go on, 5 get a financial plan, 3 write insurance, 1 becomes a new recruit and 6 get investments. I have recruited a team of people - and been with Primerica for 28 months. I'd rather collect a residual or override than have to run around meeting with clients. The choice is the agent's. Most of our agents subsidize their income with a policy or two a month - add $500-1000 to the average person's income with and hour's work - and those are the people who work with us. They all get licensed and they all have ongoing continuing education weekly. Sorry if you think I'm not professional but I have three companies - I'm not looking to work harder - I'm doing this to build a residual and recurring income so I can retire. You can keep servicing your clients, I'd rather build a team of people who do a little bit - my choice.

 

[DHK]

 

[DHK]

There is no reason for a client to deal with an agent who promotes whole life when they speak to me.

Unless they want someone who can give the a higher level of thinking.

You see, you don't know what I know, despite being LICENSED for twice as long as I have.

I can help retirees spend their money as though it had earned 27.58% rate of return in retirement for 10 years.

You can't do that. You don't even know how to begin.

I know how to do that.

So don't give me that garbage about "you don't need whole life". You may not 'need' it... but you'll WANT it once you know what it can do for you.

And yes, it's even good for people in the lower 12% tax bracket too.

I don't know why I'm even bothering to respond... except to say that you don't know what the **** you're talking about.

Try viewing the link in my signature sometime. Let a CPA teach you a thing or two.

 

[DHK]

From one of my favorite books - The Greatest Networker in the World:

"There's a story I want to tell you," he said, plainly coming to rescue me from my awkward silence. "Would you like to hear it?"

"Sure."

"In Japan, many years ago, it was the tradition among Buddhist monks to travel from monastery to monastery, seeking the teaching of the masters. As was the custom, the master would serve his guest tea and they would talk.

"One young monk was a particularly outstanding student. In fact, he was so exceptional, he had made a bit of a career out of showing up lesser masters with his skill and tremendous intelligence.

"One day, he called at a very famous monastery attached to one of the most sacred temples in all Japan. The master there was old and most wise. The young man begged an audience with the master, in hopes of being accepted as his pupil, to live and study with the great man.

"The young man — whose reputation had preceded him — was ushered into the master's chambers immediately. This was most unusual, and the young monk was greatly flattered.

"The master entered and they bowed to each other. They sat across a low table on the tatami mat floor and talked.

"The young man told the master of his journeys, of the teaching he had heard, of the monks he had 'bested' in his search for Truth. It was a most impressive tale. The master listened intently and acknowledged the young monk many times for his wit and intelligence.

"A teapot and cups were brought in, and the master began pouring tea for them both. The young man addressed the Master: 'I wish to remain here and study with you, for I sense that here, unlike with the others, there is much you have to offer me . . .'

"And all of a sudden, the young monk cried out in pain and alarm, jumping up from his place on the floor, shaking his robes and dancing about. The scalding hot tea had spilled all over his lap!

"The master sat calmly and continued pouring tea — which was overflowing the student's small cup and spilling out over the table onto the straw-matted floor where the young man had been sitting.

"''What are you doing!?!' the young monk demanded. 'I have been burned! Stop pouring! The cup is overflowing!'

"''Go away from me, young man,' the master said. 'I have nothing to teach you. Your cup is too full . . . overflowing with all that you know and all that you think you don't know. Come back to me when your cup is empty and you are ready to receive what I have to give.''"

We sat in silence for a long time. As I recall, it was the first time in a long time that there were no thoughts at all rattling around in my head.

I had stopped talking to myself.

Fogg, John Milton. The Greatest Networker in the World - 20th Anniversary Edition . Networking Times Press. Kindle Edition.