Primerica reports 13% growth in term life net premiums in 3Q, 5% increase in agents

[Cornelius]

Here is an observation. Back in the days where there were intense net battles between the pro and con Primerica I noticed many of the pro Primerica people talked more emotion/hype and stayed away from facts.

"Primerica is the best". Compared to what? The separation between the company, products, and compensation were rarely ever considered.

As for the recruiting they talk to a bunch of people. Just get there first and as for agents for some that is the best company for them. Others just quit or move on.

 

[toolbelt]

"Others just quit or move on."

Over 60,000 licensed reps moved on in the last 18 months for instance?

 

[jcorr]

I was reading the article and didn't quite follow the math "New recruits declined 16% from the third quarter a year ago, which benefitted from approximately 17,000 recruits in hurricane-affected areas whose Independent Business Application (IBA) fees were waived. New life insurance licenses were down 8% year-over-year, while the size of the life insurance licensed sales force increased 5% to 130,658 representatives in the period." Not sure how they get a 5% increase from this.

 

[toolbelt]

Well I suppose if new life licences issued was up 13% a year ago. Don't forget, last year was the annual convention, which they typically get a boost from. There were 303,867 recruits in 2017.

 

[AboutThatLife]

I was reading the article and didn't quite follow the math "New recruits declined 16% from the third quarter a year ago, which benefitted from approximately 17,000 recruits in hurricane-affected areas whose Independent Business Application (IBA) fees were waived. New life insurance licenses were down 8% year-over-year, while the size of the life insurance licensed sales force increased 5% to 130,658 representatives in the period." Not sure how they get a 5% increase from this.

New recruits were down- Those are new people to Primerica.
New life licenses are down- These are recruits who get their first license with Primerica.
Life licenses sales force increased- They are attracting agents from other parts of the industry.

 

[toolbelt]

New recruits were down- Those are new people to Primerica.
New life licenses are down- These are recruits who get their first license with Primerica.
Life licenses sales force increased- They are attracting agents from other parts of the industry.

I highly doubt that because historically, when you add the number of newly licensed agents to the existing force, the number jives with the sales force size at year end, when you factor in terminations, which are also indicated in financial reports. It would appear that very few, if any, already licensed people sign up.

 

[Robert Wilkins]

Back in my recruiting life I recruited several PFS agents. I recall them talking about going to convention in GA. I think. I am thinking they won the trip. They had to pay to attend. Plus airfare, several people animal housing in a small single room. They even had to buy the required Tshirt.

Why are you so jealous that Primerica is the best?

finally! well played

 

[LGilmore]

finally! well played

So is it your turn to be that guy who appears, tells everybody how great Prime is and then is gone a few months later? Just asking for a friend.

 

[DHK]

We have a little more fun with them (and the other MLM'ers) on the FB page.

 

[jcorr]

The only Robert Wilkins with a Florida license is not appointed with Primerica.