Primerica Guarantees

[Allen Trent]

Winoblues

A 45 year old couple with $250K each for standard, not preferred, could get coverage for 25 years until age 70 then the policy would renew without a medical. The renewal amounts are dramatically less than those of other term policies. The cost for a 25-year term policy for $500K would be $1975 annually or $187.63/month.

Had they bought an average priced term available in the market, they would save $500 or more per year & could have invested that in their employer 401k or 401k Roth. If you cared for the middle class people you claim to, you would be offering a way more better priced term insurance

 

[DHK]

Meanwhile Primerica clients don't need insurance when they are debt free and have investments.

Which is why the final expense market is the fastest growing segment of life insurance sales.

And you don't know the tax code like an insurance agent should. If you did, you'd never sell terminating coverage when you can do life insurance wealth contracts.

That's why those that actually have insurance have it! It is meant as a safety net when you don't have enough in investments.

You don't know how life insurance works. And Primerica keeps you in the dark so you'll just be a duplicating lemming.

As for my comment about rates and investments compared to cash value, I am actually a series 6 and 63 representative AND from 1924-2019 mutual funds averaged 9.8% so I was being conservative.

If you don't learn how to couch your comments, your compliance officer will be giving you written warnings for such statements. You are not an unlicensed entertainer like Dave Ramsey. You're actually expected to know stuff when you have licenses of accountability.

Btw, past results are not guarantees of future returns. I'm sure you know that.

As for whole life I don't care how many policies say they will pay up to 5-6% the past year when the market was booming and earns were in the double digits, policies still paid 2% so where am I lying? I'm not projecting, I am merely stating facts based on past history.

If you only knew what you didn't know.

But it's not my job to teach you.

I don't owe you anything. If you're don't want to be civil then I suggest you be quiet. You have more than 10k posts…do you ever work or do you troll this site to display the letters after your initials? Honestly I'm not impressed. I have a lot of friends who have letters after their names. I have a MENSA designation and two honors degrees - I am also a licensed real estate broker with a real estate company and own a restaurant. Your letters don't impress me. Women get to push a big boulder up a hill to have any kind of career so my accomplishments are fairly extraordinary. I am also a well respected award-winning financial consultant. LOL

Your company is full of industry trolls and you give real educated consultants a bad name.

Your MENSA designation should be turned back in for being aligned with such a trash company. Your education certainly didn't serve you, nor your clients.

Maybe you should stick to real estate and your restaurant. You won't hurt as many people - as long as you actually follow the health code.

Women can do anything and I know some very accomplished women. So don't play the gender card with me.

 

[DHK]

Primerica is the Westboro Baptist Church of Financial Services.

Change my mind.

 

[DHK]

In the many years I've been in this industry, I know of less than 5 truly PROFESSIONAL Primerica reps. Two are in my Facebook group and one I'm connected with on LinkedIn.

They're open to learning and I'm all for them being the best reps they can be with their company.

We have a professional rapport because we can respect each other as professionals.

But you're just another lemming. Probably wishing the insurance exam was easier so you can recruit more.

Insurer Pushes to Weaken License Test

 

[Denise in Florida]

@DHK,

You do realize that whole life, basically, overcharges the client so that they can eventually fund their own policy? Your illustration shows that! They are paying more and not getting any more. They are funding their own policy over time! HOW is that good????

Also you are incorrect in saying that Primerica increases the premiums over time. The premiums are level to age 70 then they go up at a much lower cost than a new policy would be - every five years to age 95. The strategy is that they invest so they don't need insurance. The whole life builds the same thing into the plans - the death benefit is reduced by the nature of the cash value. The difference is that keeping the insurance and the investments separate, the client has double the benefit. The insurance remains and the company is responsible for the death benefit as long as the policy is in effect. By keeping the insurance separate from the investments (which basically takes the place of the cash value of a whole life policy), they get the entire value of both the insurance and the investment.

Your logic about whole life is flawed. You are believing what you sell is good but it isn't.

All Primerica agents have to get licensed just like any other agent - and the goal is for them to build up their book of business over time part time and when their part time income replaces their full time salary, they can quit their job. The agents have ongoing training 4 hours every week after licensing. The agents applications go to an experienced broker to be reviewed prior to being submitted to underwriting.

There is no competition. If a Primerica agent gets in front of a client, we can show them why whole life is garbage.

 

[Denise in Florida]

DHK,

You blatently say in your video that you write a lot of high-cost policies and that's why what you do is better???? Hello! You are admitting that you overcharge people so you can make more money! WHY would a client benefit from a whole life plan versus a level term plan with a separate investment? THEY WON'T! It's all about the brain washing and your PERCEPTION of what you do but the fact remains that you make money by overcharging people for their insurance and by them renewing their policies every year without any concern about where their money actually goes. Your graph is laughable - the idea that you can't see the flaws is really sad. YES! The risk goes away when the cash value builds because the CLIENT has paid their own benefit! How is this better for the client? It ISN'T! It's better for YOU! I'm done. You are impossible. You don't have the capacity to understand, obviously. I feel sorry for you.

 

[Denise in Florida]

Winoblues,

A policy for couple 40 for $500,000 for 30 years would be $143.93/month. Annual rate is $1515

 

[Norwayguy]

Nothing like a Primerica thread to get the forum moving...I'll be right back getting some popcorn to watch.

On a side note, it's likely what everyone selling life insurance is doing is finding and insuring more people.
People who would be without coverage otherwise and might end up e-begging without the benefit of coverage. Can't we all just get along?

 

[DHK]

Denise you are woefully misinformed.

I have a blog where I dispute everything you mentioned. Everything.

But you're not worth it.

Don't read it.

You probably won't and can't understand it anyway.

 

[Denise in Florida]

You have NO IDEA what you are talking about - I don't care how many letters are in front of your name! You only see your little world - what you are doing has been under investigation with the FTC for 20 years! The only reason you are still able to write whole life is because the industry leaders have too much power. Eventually it will be eliminated. It is NOT a good deal for a client - the only person who benefits is the AGENT!

You criticize Primerica for not writing insurance but they are the second largest insurance company in the continent! I wouldn't read your blog because it is full of deception and misunderstandings. I don't need it.

By the way, the Primerica "professionals" you refer to only placate you in hope that eventually they can wake you up to show you why what you do is so wrong. There is absolutely no reason for a Primerica agent to befriend someone who is doing what you do except to eventually recruit you when you finally see the truth about what you are doing. Unfortunately, after watching your video, I realize you don't have the capacity to understand what you have been indoctrinated into - so, to you, it looks very good. Unfortunately the graph PROVES what I said! LOL. You are preaching to the choir.

Your biggest beef with Primerica agents is that they are able to do what they do part time and you think this doesn't make them professional - but, Dude, the licensing is the SAME, no matter how many hours you spend or how many cases you write. Building a team of agents - not 100 but literally thousands - creates a team of people and everyone helps everyone else. It is brilliant. Warren Buffet, Robert Kiasaki and even Donald Trump said that this business structure is the way of the future. So, I humbly suggest you get off your soapbox and study some more. I have no more time to do this.