Well considering only a very rare few of all Primerican reps ever exceeded $50k at least once during any single rolling 12 month period, including advances, and before expenses, since 1977, it would be wise to steer clear.
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What is the Best Company for a Long Term Career?
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Well considering only a very rare few of all Primerican reps ever exceeded $50k at least once during any single rolling 12 month period, including advances, and before expenses, since 1977, it would be wise to steer clear.
WFG is Primerica's genetic clone......they share the same DNA.....Hubert Humphrey of Amway fame!!!
Primerica does not sell anything except Term Life Insurance. I met some of the agents in a job fair actually. When I asked them why no Permanent Life, they said that they do not believe that saving money and insurance should be together, which I think is ludicrous.
Nothing against Term coverage, believe me. I think all products are great, but it's depending on who we serve. If you try to sell Term Policy to a young (20-30 years old), very healthy person, does not smoke of any sort, and having a steady income, I think that's a waste of her money. Conversely, if the person is very old, then yeah.
Primerica does not sell anything except Term Life Insurance. I met some of the agents in a job fair actually. When I asked them why no Permanent Life, they said that they do not believe that saving money and insurance should be together, which I think is ludicrous.
Nothing against Term coverage, believe me. I think all products are great, but it's depending on who we serve. If you try to sell Term Policy to a young (20-30 years old), very healthy person, does not smoke of any sort, and having a steady income, I think that's a waste of her money. Conversely, if the person is very old, then yeah.
How does paying their greatly inflated premiums and high fee investments have anything to do with saving money is beyond me, its beyond most people as well.
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How does paying their greatly inflated premiums and high fee investments have anything to do with saving money is beyond me. Then again, considering they only have a 1.8% term market share, its beyond most people as well.
Like I said, all products are great. I don't favor one product over the other products. I just favored what is best for my clients. If I think term is better for one, I'll offer them term. If I think permanent is better, I'll offer permanent. If the client wants to save more, I'll offer them products that helps them save money & still have coverage. Once again, all products are great. I just don't see why primerica only locked down on just one type of product and vision, and that is term & spend the rest on your own investment. This is what all their agents told me.
"We believe that savings and insurance should be separated. Invest the money that you don't put on insurance on something else. Whatever the risk on your investment, that's on you."
Again, I don't have anything against term insurance. I do, however, have something against this mindset. What if the client wants permanent coverage? Primerica can't offer permanent coverage & instead they will still shove their beliefs of separate savings & insurance on the client's face until the client is sold with just term. It's despicable!
They sell term as it is less complicated for their part time force to sell, and is less risky with a low payout rate. One must take into account that historically, based on their annual reports, their reps sell an average of 2 1/2 policies a year, which may include a policy they purchase themselves when first recruited.
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How does one sell half a policy? Where does the other half go?
And the payout rate varies. I do not reject their Term policy completely, even though that is the only products they have to offer, but I have yet to see one of their policy before I can say anything.
I do, however, witnessed a very despicable company called Globe Life. I saw their policies numerous times and all they do is send applications to people's houses, have them fill out the application, send it back, no medical, no blood & urinalysis, no agents, and they get people by agreeing the first premium is $1. Then the next month it increases again to $80, then the next year it increases again, then it became 5 year term policy. The worst part is, the benefit is measly $50k or $15k. If the client is not well educated about insurance, they could end up paying more than the benefit, thus losing money.
Anyway, that's just my 2 cents. I don't want to say anything bad about Primerica product, because even though they sell Term only, it could be the best Term policy ever, mediocre, or the worst. However, I am sure 100% that Globe Life Term is the worst one I've ever seen, yet people still fall for it.
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When counting "lives", when you split commissions on a policy, you only get credit for 1/2 of a "life". That's how you can have 1/2 of a policy counted.
