thoughts on the company Primerica?

Question

My husband and I are considering getting into working for a company called Primerica..who out there has had experience with this(good or bad) and how did your situation turn out? we really unsure about the legitamcy of this all and need some 'real people and reall experience advice on this..
thank you to everyone who does answer

is there anyone who has actually worked for them? I've seen 'yearbooks' of people who have so there has to be someone..

Answer 1

You can read numerous stories about people's experience in Primerica, but you shouldn't base your future on what they did. Primerica is an opportunity for you to build a business in finance and hope someday that it will take course on it own without you needing to be there. Though, this won't happen right away, but a few years of hard work can make you financially independent.

I joined the company in 2004 and wasn't sure what I was getting myself into. The opportunity sounded great, just that I wasn't sure what this company really do. Soon enough, I found out that what I can do can really help families. How cool is that you can get someone pay off their debt in 20 years versus 28 years? How cool is that you can lower someone's life insurance premiums from $1500/year to $800/year and also increase the coverage too?

When you get your securities license, you can show someone various investments that has outperform their investments in the past 10-25 years. Someone in the company did a $52 million rollover and got paid almost $900,000! Are you going to get that? Maybe not, but you may run into $100,000 rollovers or maybe even a million dollar rollover.

While the products are amazing, building a business isn't so easy. You can build your client base, but you would still be self-employed. The goal is to be a RVP some day. To get to RVP, you need to recruit some people and develop them into business leaders so that they will become RVPs. Recruiting is new to me and I understand that if I want my business to grow, I need to recruit some people. People will quit, but it doesn't matter. Primerica isn't for everyone. If it was, there would be no opportunity. So I just keep finding new people to find a business leader.

While its almost been 3 years for me, I still attend weekly training, continue to be coachable to my upline, and do what I need to do. I'm not a RVP yet, but someday I will be. For you and your husband, you guys might become RVP more quickly than me because both are you have the same goal and the same focus and the training and support is better than it was few years ago.

My advice to you: Start out part-time and don't change your career yet. Get some experience first before considering going full-time in the company. Figure out why you want to do this business and what you want to achieve. If you figure this out, you will have more focus on building a business.

Good luck to you and your husband, that is if you join and try it out. While its only $199, you have really nothing to lose by joining. The worst case scenario is that you make some money and leave with an amazing financial education. You will know more about various financial products than 95% of the population. The best case scenario is that you love it so much that you work hard to become RVP and someday, never have to work again. So what do you have to lose?

Answer 2

I looked into being an agent with them about 15 years ago. Their concept (at least back then- I have no idea about their products now) was solid in that people should start their investment and automate it ($100 or whatever out of each paycheck deducted) and let it grow long term. The normal good sense that still works today. As for doing it, I started but it turns out I'm not a hard core sales man. Not so good at closing the deal if people weren't convinced or were waffling. Only you know if you'll be able to do that. Back then the business model was similar to Amway. Become an agent, sell xx number of products, then "hire" several new people under "your business". Up the chain of command everyone gets their cut. You can still do very well if you are a great people person and have a lot of contacts to get yourself started. It's easy enough to believe in the investments an such, and you do help people get started towards retirement. BUT, obviously I can't tell you if their investments or insurance are any better or worse than other companies.

Answer 3

If you are interested in selling insurance and investment go to another insurance company, you will only get paid a percentage of the commision. Primerica works like a pyramid scheme, if you want to make real money you need to find other people to work under you and then you get a cut of whatever they sell. Why do that when other insurance companies pay you the correct commission with no cut for anyone else.

Answer 4

Primerica is sometimes called the "Amway of Financial Services".

You are not only expected to sell their products (which are generally overpriced) but also to recruit others to be underneath you. The "references" that you provided are expected to be your first customers. They are not really used as references.

Most reps make very little money working for Primerica and, as you are considered an Independent Contractor, they do not have to even offer a minimum wage. I am not sure of their dropout rate, but it has to be in the 80-90% range similar to other multi-level marketing operations.

Go to "RipoffReport.com" and do a search. There are hundreds of postings.

Answer 5

You are going to get a ton of answers bashing the company as MLM or it dosn't work. B.S.!!! I do not work for nor do I have a Primerica business. They are owned by the Largest Financial Services company in the World, Citi Group. They have access to Smith Barney, another Citi Group company, and Smith Barney is the most respected Investment firm in the World. It is as good a business as you make it. Like any other start up business in the world your goal is to do business, hire people to do more business, as the boss, get paid for the business they do and so forth.
Primaerica is fine. There are a lot who have failed, but that is usually due to lack of talent, ethics, and hard work. Kind of like any new business right?

Answer 6

primerica,primerica,primerica first of all its good if you like recruiting people and being self employed. you will not get payed till you get your license. you will have to attend weekly meetings at night or afternoon. My advice is to not quit your day job if your going to get into it. i was being recruited by a couple of friends but it just wasnt my thing. my mom told me that she was being recruited back in the day like in the early 80's.
its legitament but not everyone can do it. There is also a sales side and a recruiting side.

Answer 7

I attended one of their seminars and decided not to do it but my friend decided to go ahead. My friend is very intelligent, knows a lot of people and put together a very good business plan constantly did everything he was suppose to do. In the end he ended up making 24,000 his first year and is on track to make twice that this year. It is a lot of hard work and it will not be worth it for a few years. So good luck and be prepared to work over 50 hours per week building your business.

Answer 8

It really depends , are you good with people ? The potential of making money is there, but the effort has to be made .

Some people do very well and others leave after a while .

Answer 9

Don't.

A multi-level marketing scheme for securities sales? Get real. They are a lawsuit waiting to happen. Even if you do a good job for your clients - doubtful with the training they provide - they want you to recruit others under you and for whom you are responsible.

If you're a competent financial adviser and are not just hoping to make money off the work of others, there are better companies to be working for - like everyone else.

If you do recruit others, one of them is going to sink you - guaranteed.

If you must do multi-level marketing, Amway or Mary Kay are better companies where it actually makes some kind of sense.

Answer 10

If you make any money there, I've got some swamp land in Florida for you.