Primerica Scam

Sales71?

Are you by chance a prime agent?

And I rarely say this "their, there, they're"

As far as your justication is they serve the low income market, how are they serving the low income market by selling an upper end cost product? Wouldn't "serving" the lower end market be better served by selling them more affordable coverage from one of the many other carriers out that that beat Prime's pricing?

Are you providing a true service or are you taking advantage of a situation?
 
Sales71 said:
Well the low income folks are under serve..WinoBlue I know for a fact that a term insurance policy for $30 a month would not be a policy that you will go out and spend your time writing.

Prim america guys will do that since that is there target market.

Thats is my opinion!:cool:
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Good points. I do write some small term cases, But only on referrals.

They do write more coverage on people that may never have had insurance. Starter policies if you will. Inventory. That is a plus. I biggest issue is their whole sale replacement policy and the poorly trained people they pass of as agents. Most of which starve out.
 
I would say that Primerica's niche is the uninformed market. The reason I say this is that there is at least in my experience, a very good chance that the insurance products they write either lapse or are replaced once a Professional Agent gets in there. I only struggled to replace one for a Police Officer who was rooked by his partner who was his agent as well. Plus the Agent had him wrapped up in a mortgage product that was beyond userious. He figured he couldn't stab his partner in the back so he kept the policy.

Sidenote, the Police Officer who was also the agent left me a nasty message on my Voice Mail not knowing I had a ranking member of the force in his station as a client. It didn't end well for him.

I will say they do a fine job of beginning the conversation in a prospect's head.
 
Everyone, I got a lot of good comments from Life Agents etc, I liked this one about Primerica Scams and Schemes but can you people address more of the kind that this one person posted which seems to be in a nutshell how Primerica scams the average Joe and Jane Lunchbucket. I'd love to see what you think of this PYRAMID scheme that this one describes below: (which thanks):skeptical::biggrin:

 [FONT=&quot]"FIRST, they recruit you... lots of rah rah rah, [/FONT]
[FONT=&quot]then they have you introduce your[/FONT][FONT=&quot] manager to your family and friends circle (warm[/FONT][FONT=&quot] market).[/FONT]
[FONT=&quot]He teaches you by selling them...[/FONT]
[FONT=&quot]OOP[/FONT][FONT=&quot]S, you[/FONT][FONT=&quot] failed your[/FONT][FONT=&quot] test...no commission for you.....[/FONT]
[FONT=&quot]next! If you pass, your warm market has already sold by your manager. [/FONT]
[FONT=&quot]Now you recruit, and you and your manager go after the recruit’s warm market. [/FONT]
[FONT=&quot]Your always paying your UPLINES!!!"
[/FONT]
 
You apparently don't know what a pyramid scheme is.

Also, passing a test is something you should do BEFORE you start selling.
 
"You apparently don't know what a pyramid scheme is.

Also, passing a test is something you should do BEFORE you start selling"

Josh?

Actually what he describes does happen as you're missing the motiviation behind the manager. Since turnover is so high, he's getting policies in his/her name before the person fails. Heard of it before, it seems to be one of their methods.
 
Josh said:
You apparently don't know what a pyramid scheme is.

Also, passing a test is something you should do BEFORE you start selling.
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What he described is what meets the "definition" of a scam. Sure, it may not be illegal, ignoring the licensing issue, but it definitely is designed to take advantage of the person.

A number of these MLM agencies are run with the intention of taking advantage of new agents. Sure, every agency makes money off agents, but you can do it without taking advantage of their ignorance of the business.
 
LGilmore said:
"
Actually what he describes does happen as you're missing the motiviation behind the manager. Since turnover is so high, he's getting policies in his/her name before the person fails. Heard of it before, it seems to be one of their methods.
Click to expand...

A pyramid scheme is one that offers no real service. While Primerica products may be overpriced and/or otherwise not competitive, there is a legitimate product being offered.

I get what they're referring too, but just because it doesn't end up working doesn't mean it's a scam. You can't get paid unless you get a license. You don't have to have your manager sell everyone before you get licensed.
 
Josh said:
A pyramid scheme is one that offers no real service. While Primerica products may be overpriced and/or otherwise not competitive, there is a legitimate product being offered.

I get what they're referring too, but just because it doesn't end up working doesn't mean it's a scam. You can't get paid unless you get a license. You don't have to have your manager sell everyone before you get licensed.
Click to expand...

Ignoring bad behavior because it just happens to be legal is bad advice.
 
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