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Thread: What is Primerica?

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    Default What is Primerica?

    I have been told latley to check out Primerica. What, if anything, do you folks know of Primerica? Any personal experience with the company? Know how it works? How much money can you make? Anything. I have never heard of them until recently. Please help.



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    Originally Posted by Bill383
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    I have been told latley to check out Primerica. What, if anything, do you folks know of Primerica? Any personal experience with the company? Know how it works? How much money can you make? Anything. I have never heard of them until recently. Please help.

    I would tell you not to waste your time. I recommend going independent if you know anything about selling insurance.

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    Originally Posted by denny47
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    Hi

    Primerica sells only term life insurance. If you're looking for cash value insurance, go elsewhere (but read this first). Policies range from 10-year term to 35-year term. All Primerica policies are level premium/level term, which means the monthly premium stays the same throughout the term of the policy. Primerica policies automatically come with a terminal illness clause, which allows the policy holder to receive a portion of the death benefit in case of a terminal illness. Most policies can be renewed without a medical examination when the term expires (premiums will increase based on age at renewal).

    Thanks
    Primerica is a MLM insurance oppurtunity, and yes I know many will say all insurance has some feature but your commission level is tied to not only your production but meeting different recruiting goals. Primerica does sell term policies and they do have lvel term but some of their policies are NOT guaranteed level for the entire term period. Many companies include a terminal illness clause in their policies so that is not unique. Most term policies are guaranteed renewable so once again this not unique but most erm companies are also convertable to a permanent policy which can be helpful if your health changes and you would like to lock in your policy for life. Finally Primerica policies tend to cost more and as I have pointed out have less features then some other quality Term companies.

    They do also sell other products like LTC, annuities however once again you are limited to one carrier. I met with a Primerica RVP once and he was proud to tell me they offered the only annuities that had a declining surrender charge, which was totally false, most policies these days have declining surrender charges. I think the problem comes from how most of the knowledge is passed down from the uplines who have no experience or knowledge beyond Primerica.

    If you want the commission you recieve to be dependent on how many people you can recruit, want to sell over priced term policies then Primerica could be the place for you. Primerica also charges you a fee to join them. If you need carriers that will accept you on a part time basis there are other better options.
    Peter G Langelier
    plangelier@langelierinsurance.com www.langelierinsurance.com
    Licensed Resident Agent Maine Life/Health & Variable Contracts

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    This is not good news for Primerica.

    Grieving Widow Says Insurance Agent Stunned Her & Her Family


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    Originally Posted by xrac
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    This is not good news for Primerica.

    Grieving Widow Says Insurance Agent Stunned Her & Her Family


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    To be fair...and I am by no means a Primerica fan, this is more about the individual agent than the company. I've met agents of many companies that when it came to common sense and decenty they had been endowed by their creator with the short straws.

    I have never had to deliver a life insurance policy death benefit but have processed many an annuity death benefit and the thought of using the funeral to stand up and expound the importance of Life Insurance I must say has quickly passed through my mind to quickly leave as just way to tackless to the family and counter productive.
    Peter G Langelier
    plangelier@langelierinsurance.com www.langelierinsurance.com
    Licensed Resident Agent Maine Life/Health & Variable Contracts

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    if you like rah! rah!...and a lot of meetings where they pat, everyone on the back....then join...they will help you get your license.....and they want you to recruit, and set up appts with friends and relatives.....they are a buy term and invest the rest.....company.....it is a well oiled machine.....they have a big turn over of people.....if you don't recruit...your commission stays at about 50%...i looked and decided it is not right for me......i don't need a pat on the back......just a pat my wallet.....with ben franklin's...good luck....

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    Hi Bill 383,WFG and Primerica are all a waste of time and energy. It involves neck breaking labour and lots of money to get started.

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    I was affiliated with Primerica back in the 90's when they were part of the Traveler's Group.

    Without going into too much detail, I will say this: If you need a place to hang out and feel like you are part of a family, and to be encouraged by people, then join Primerica. Or join a church. Honestly, Primerica is almost like a religion. True, it is no church per se, but it has all the trappings of a religious organization. You will be encouraged to do whatever the RVP does, says, etc., they are like the pastors. The SNSDs and other higher ups are like bishops and priests. You will be indoctrinated with all their slogans, chants and other garbage. You will be encouraged to read pro-Primerica literature and you will be encouraged to go out and "recruit" (i.e evangelize) the public with your "salvation" message of buy term and invest the difference.

    Let me say that I am a Christian, so I offer the above with no real malice towards Christianity, but perhaps some of the cult-like tendencies of some Christian fringe groups. In retrospect, I would really have to say that Primerica is a cult more than anything. It encourages people to develop a herd mentality and an "us against the world" mentality that borders on an out and out cult.

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    According to me, Primerica is a financial service company that deals with term life insurance and long term care. Primerica service business principally in the US. Primerica does not charge any fees for their services.

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    Originally Posted by hankmayson
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    According to me, Primerica is a financial service company that deals with term life insurance and long term care. Primerica service business principally in the US. Primerica does not charge any fees for their services.
    You make a big deal of the fact that Primerica does not charge fees. The simple fact is that Primerica Agents may not legally charge fees as they are NOT Registered Investment Advisors (RIA) or Investment Advisor Reps (IAR). Also your statements are misleading as Primerica offers Mutual Funds and ALL mutual funds have an ongoing cost ie Fees associated with them.
    Peter G Langelier
    plangelier@langelierinsurance.com www.langelierinsurance.com
    Licensed Resident Agent Maine Life/Health & Variable Contracts

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