This goes out to all the idiots who answered me before saying take your personal problems elsewhere, or i was dooped for having a 5th grade education. But actually i have $250,000 term life insurance, max out my Roth IRA everymonth, and have my own Primerica business. So for all you EMPLOYEES, or corporate slaves, i ask you, how much are you putting into your Roth? And lets not lie now, ok. Oh yea can you tell me what the rule of 72 is? Have fun at your 9-5.
2006-09-12 04:06:23 · 9 answers · asked by joe s 1 in Business & Finance ➔ Insurance
Because it has enough embedded options (including the option to surrender and the option to borrow against the policy) to make it attractive, perhaps?
2006-09-12 04:16:56 · answer #1 · answered by NC 7 · 0⤊ 0⤋
How dare we questions such a great previous question as the one yesterday.....
Your position with Primerica (the Great Pyramid) has given you what...4 weekends of experience at your own expense?
People by term and whole life for different reasons and not everyone fits into same pigeon hole.
MetLife, Prudential, New York Life (I can use shift key) are trusted in industry for their stability. There representatives do sell products that sometimes are not best for customers just like Primerica reps push high interest rate and closing cost loans based on a questionable equity builder program.
I have term life
I max out my 401(k)
I max out my Roth
I have a 15 year mortgage with a similar amortization program to Citi/Primerica.
But getting onto Yahoo! answers and bashing other companies while not being able to phrase a question is not the best way to market your company and make you look like a professional financial planner.
Hope your new pyramid goes well
2006-09-12 12:57:24 · answer #2 · answered by fryeguy93 2 · 5⤊ 1⤋
Primerica................... Talk about Pressure to Sell one Company!!!!!
Many, many other companies have term insurance with lower premiums than Primerica.
Many, many people are under insured!
If you earn $75,000 you should have a minimum of $1 Million of Life Insurance. The more you earn, the more you should have.
Term insurance should be the Primary Life Insurance for people until they max out all other tax deductible savings alternatives.
30 Year Guaranteed Level Premium Term should be the policy recommended for those starting out.
People should shop around.
Use the Internet and then an Independent Agent.
Go to http://www.joesalvemini.com
2006-09-12 11:37:29 · answer #3 · answered by Joe the Expert 2 · 1⤊ 0⤋
The ANNUAL limits on Roth IRAs are NOT monthly limits. You can put the full annual maximum in at one time if you want. The word 'I' is always capitalized as any spell checker will tell you (even the one built into Yahoo Answers). Whole Life and Variable Life may be bad investments, but they are legitimate products.
Based on your question, Primerica is no longer on my list of companies to request quotes from.
2006-09-12 18:38:33 · answer #4 · answered by STEVEN F 7 · 2⤊ 0⤋
Primerica...that's funny. I love the business model there: "Mr. customer, do you want to buy some term insurance? Great, when we're done with that, how about you starting your own business and selling some insurance to your neighbors. I'll put you to work in your own business. If you recruit enough folks to work for you then you can move up a level. All those recruits will be rolling up to you. Oh, one more thing....have you met my wife? She's got a distribution business and she'd like to invite you to her AMWAY / party."
So let me get this straight. You work for / "own" a company that views everything in a black and white fashion?
$250,000 term. Let's see, according to the Primerica law of insurance, you plan to make $25,000 this year.
Rule of 72. Sure i know that one about compound interest and growth of single lump sums.
Here's one for you: do you know the 72(t) rules?
By the way, I don't sell insurance or investments for a living....I just wanted to respond to your silly comments.
2006-09-12 15:29:23 · answer #5 · answered by derek 4 · 5⤊ 0⤋
Let me answer one question at the time...first of all w/l policies are not bs. I don't know your age but different people have different needs. Do you hvae children. How old? How many? $250000 is not a lot of m oney in this
economy (check colleges tuition). As far as your Roth and your bussines,you should at least have a Disability Policy. I wish you good health..but..you never know
2006-09-12 12:20:52 · answer #6 · answered by lm050254 5 · 1⤊ 0⤋
So you're saying you're a better person because you assume you have a better job? Or because you, like billions of other people, know what the "Rule of 72" is? HA!
Money and "smarts" aren't everything. Will they help you after you've died? "For what profit is it to a man if he gains the whole world, and loses his own soul?" (Matthew 16:26) "You cannot serve God and mammon." (Matthew 6:24). Wake up!
Maybe if you'd stop insulting people you'd get better answers here.
2006-09-12 12:55:23 · answer #7 · answered by Suzanne: YPA 7 · 2⤊ 0⤋
Because money talks, and elections are costly affairs. Why are alcohol and tobacco legal, but tryptophan is restricted?
Here in America, we capitalize the first person singular.
Too bad people were so rude to you before. I didn't see your question that you refer to, but it is a waste of time to respond to people who insult you. And posting your financial information doesn't really impress anybody. I mean, first of all nobody cares, and second of all nobody can verify it.
Good fortune.
2006-09-12 22:50:49 · answer #8 · answered by J. C. 6 · 2⤊ 0⤋
Your question is precisely why people should steer clear of anything to do with Primerica.
2006-09-12 16:08:48 · answer #9 · answered by markmywordz 5 · 2⤊ 1⤋