Primerica or State Farm
- Thread starter tmac1220
- Start date
- 1,953
IMO to understand Primerica you have to understand their target market and their plan. Work the middle and lower income market with basic financial services and hire the masses on a part-time basis to supplement their income. Make a sale and then work from referrals.
I used to have issues with them due to being one sided on products and services within the industry but now I understand good or bad they have the right to run their business as they seem fit and after all the message board battles they are still putting up the numbers.
Here's the thing that many may not consider especially from the perspective of a part-timer. The part-timer is a low fee position. The RVP takes the brunt of office cost and training. So yes the commission's may seem low but looking at the other side there is some value and as we know nothing in the industry comes free.
I always say it Primerica ever went independent and gave agents more freedom they would explode. The issue is when having mostly a part-time field force you have to monitor them and have checks and balances in place.
Primerica isn't a bad company because if they were the regulators would have shut them down by now. It's just a case of recruit to sell. As for the products and pricing they have to pay the field force and make a profit just like every other company. Can they be beat on price? Sure in many cases yes but who are marketing and servicing their target market?
Think about it. Middle income family both parents working dealing with bills. May have some education about finances it doesn't have time to really research the subject. In steps a PFS rep. Sits down with them and goes over basic financial concepts and offers them a game plan. No one else knocking at their door to help them so they get the offered products.
Next they need extra income so why not get a license and try it out? It's low risk. Start out part-time while keeping their full-time job and quit if they feel it's not for them. Make a few sales a year and fund whatever. The client wins and the recruiter has some fresh warm leads to train on or have as referrals.
The system is genius. Just keep people coming and going. If no one else is servicing their market in a big way and they are insuring that market products have to be priced accordingly. So I'm not hating on them I basically understand them.
For some people Primerica is where they want and need to be. Step out in the independent world especially as a new agent and its basically on you. Training and contracting are major issues.
So Primerica or State Farm? Go over the pros and cons of each but understand to go big at Primerica you have to have a mind set of recruiting and teaching others.
No matter what you may hear or read on the net Primerica isn't a scam company. They just have a way of doing business that works for them. Take it or leave it.
I used to have issues with them due to being one sided on products and services within the industry but now I understand good or bad they have the right to run their business as they seem fit and after all the message board battles they are still putting up the numbers.
Here's the thing that many may not consider especially from the perspective of a part-timer. The part-timer is a low fee position. The RVP takes the brunt of office cost and training. So yes the commission's may seem low but looking at the other side there is some value and as we know nothing in the industry comes free.
I always say it Primerica ever went independent and gave agents more freedom they would explode. The issue is when having mostly a part-time field force you have to monitor them and have checks and balances in place.
Primerica isn't a bad company because if they were the regulators would have shut them down by now. It's just a case of recruit to sell. As for the products and pricing they have to pay the field force and make a profit just like every other company. Can they be beat on price? Sure in many cases yes but who are marketing and servicing their target market?
Think about it. Middle income family both parents working dealing with bills. May have some education about finances it doesn't have time to really research the subject. In steps a PFS rep. Sits down with them and goes over basic financial concepts and offers them a game plan. No one else knocking at their door to help them so they get the offered products.
Next they need extra income so why not get a license and try it out? It's low risk. Start out part-time while keeping their full-time job and quit if they feel it's not for them. Make a few sales a year and fund whatever. The client wins and the recruiter has some fresh warm leads to train on or have as referrals.
The system is genius. Just keep people coming and going. If no one else is servicing their market in a big way and they are insuring that market products have to be priced accordingly. So I'm not hating on them I basically understand them.
For some people Primerica is where they want and need to be. Step out in the independent world especially as a new agent and its basically on you. Training and contracting are major issues.
So Primerica or State Farm? Go over the pros and cons of each but understand to go big at Primerica you have to have a mind set of recruiting and teaching others.
No matter what you may hear or read on the net Primerica isn't a scam company. They just have a way of doing business that works for them. Take it or leave it.
Alexandra Garcia
New Member
- 3
I’m currently in the same situation Primerica or Farmers ?
