Hello, I just re-signed with a company called Primerica about three weeks ago and would like some other agents opinions about it? I previously worked for New York Life ended up quittting and swore to myself not to get involved in the insurance business again, but here I am again. The guy who recruited me, a real nice gentleman strongly believes in the company, so he sold me into signing up. In going to some meetings it sounds like a good idea. I did notice its strictly term policies but also noticed some of their prices are expensive for term(compared to NYL). I read on some stuff here in the forums about Primerica and does not sound to good. Maybe because none of you worked for the company or you either worked and switched to another agency. Primerica mostly trains you to recruit first and sell at the same time. Their goal it seems is to make you what they call reginal vice president owning your own agency. I mean it sounds good. They also told me about people that head great success working part-time and full-time at Primerica. It is one of the things that attracted me to it is that you can work here part-time while having antoher job to earn extra income which NYL did not allow you to have a second job. I think it is probably the number one reasons many quit is because they have families to support and can not go long without a check. I think more companies like NYL should allow their agents to have another job until business picks up and then have to quit maybe like a 1 year grace period. Just my opinion or maybe they feel they can not put the hours in the business by having two jobs. Any opinions on my decision is greatly appreciated? maybe from former agents of Primerica or either ones working for them?
Signed Up with Primerica
- Thread starter spali1981
- Start date
- 11,266
You are choosing between being a mediocre producer and recruiting mediocre producers...
or
becoming a good/decent/great producer on your own and being highly esteemed in your community (and being paid more for your OWN efforts).
BTW, many companies will let you "sample" the career for a period of time. This can help you transition into the career more smoothly. I know MassMutual allows this.
If you're looking to be captive with a career agency, they are affiliated with a B/D, so you need to be full-time with the company.
If you're INDEPENDENT... then you can do whatever you want - have other jobs, etc.
It gets more dicey when you're affiliated with a B/D and have securities licenses. All outside business activities must be disclosed due to FINRA requirements and regulations.
You're really comparing apples and oranges.
or
becoming a good/decent/great producer on your own and being highly esteemed in your community (and being paid more for your OWN efforts).
BTW, many companies will let you "sample" the career for a period of time. This can help you transition into the career more smoothly. I know MassMutual allows this.
If you're looking to be captive with a career agency, they are affiliated with a B/D, so you need to be full-time with the company.
If you're INDEPENDENT... then you can do whatever you want - have other jobs, etc.
It gets more dicey when you're affiliated with a B/D and have securities licenses. All outside business activities must be disclosed due to FINRA requirements and regulations.
You're really comparing apples and oranges.
- 8,707
Oh boy.....First welcome to the forum. This forum has a wealth of information and FACTS that you might not become aware of from your upline at Primerica. You have already noticed that the company pushes term policies and have noticed the prices seem high compared to NYL term a carrier that is not know for low premiums either and you should ask yourself what do you get for this higher premium, if the worst was to happen and your buy term invest the difference approach does not work out and you need your life coverage for longer than you anticipated and your health has declined do you have the option to convert your policiy to a WL or UL policy of course you already know the answer which is no.
One of the main issues you will face in your stint with Primerica is that you now have a hammer and will be faced with prospects in need of a screwdriver.
One of the main issues you will face in your stint with Primerica is that you now have a hammer and will be faced with prospects in need of a screwdriver.
spali1981, First off, welcome to the forum. You obviously drank the kool-ade, of course it sounds good its suppose to sound good. Can't say that I've worked for Primerica, but I did get my feet wet with A. L. over 30 years ago. Please do not go back and hit your warm market again. You'll be doing them a great disservice. I could tell you everything that I believe about Primerica in about 15 mins. it would take me 2 days to type it out. Stop and ask yourself, would I go to a part time Dr.
- 11,995
We all make mistakes 
- 16,877
If you really believe that everyone needs term insurance how could you justify selling them overpriced term?
First, you have my condolences. Second, if in reality you really want opinions concerning your decision, isn't that an unfortunate case of "Ready, Fire, AIM"? Who makes a career decision and then validates the decision on a message board? My cynical side suggests to me that you may not be as uninformed as your post suggests.
But if you are truly unsettled in your decision, let's cut through the fog and face these facts:
1. Crap company
2. Crap product
3. Crap philosophy
If you want to build a career through multi-level marketing, keep it honest and join Amway.
Nothing personal, but they don't pay me here to sugar-coat it. I care enough to tell the truth.
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That says it all!
- 15,041
You know, this is hilarious. You started your post off defending Primerica, that because we haven't been there, we don't know the quality of the company. I bet you said the same thing about NYL when people bashed it and the job. And by the way, NYL is a good company, but I wouldn't want to be an agent there. Give it time, and you'll be singing the same tune about Primerica, because it is a crappy company.
But just ignore the company part. Do you even understand how MLMs work? You have to get people in your downline to make money. The problem is, there has to be many more indians than chiefs, and you are very late to the table. Even better, the indians have to have someone to sell insurance to. So, there can only be so many indians, which further limits the number of chiefs. When you add in the crappy product and lack of sales training, you are doomed from the start.
If you get serious with Primerica and recruit heavily, you are doing to do to your recruits exactly what you hated about NYL. You're going to throw them out there as fresh meat to the lions without a clue how to survive. Since you mentioned another job, I suggest you get busy finding one and focus on it. You'll be happier for it in the long run.
But just ignore the company part. Do you even understand how MLMs work? You have to get people in your downline to make money. The problem is, there has to be many more indians than chiefs, and you are very late to the table. Even better, the indians have to have someone to sell insurance to. So, there can only be so many indians, which further limits the number of chiefs. When you add in the crappy product and lack of sales training, you are doomed from the start.
If you get serious with Primerica and recruit heavily, you are doing to do to your recruits exactly what you hated about NYL. You're going to throw them out there as fresh meat to the lions without a clue how to survive. Since you mentioned another job, I suggest you get busy finding one and focus on it. You'll be happier for it in the long run.
- 4,132
sounds like you just want to dabble in insurance and can't understand why a career company like NYL wouldn't go for it. Maybe Prime is a good place for you as it sounds like you do fit the "coach's" ideal. In fact, that's how the company was formed, by someone who wanted to sell insurance but didn't want to commit to it full time. May be a perfect place for you.
Good luck and remember to purchase good E&O coverage.
Good luck and remember to purchase good E&O coverage.
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