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I started with Primerica over a decade ago but got side tracked onto another business and dropped it. So I don't know if my advice is valid at all. Is it still owned by Citicorp and is it still MLM based?
I thought they offered a good service and had access to good products. It is about the only MLM based business that I would even halfway recommend. Make SURE the person who "signs you up" knows what he/she is doing, i.e., it is their full time job, and that they are a good mentor.
I would be interested in hearing of some more recent experiences.
The best place for answers is to review Primerica's annual reports. 84% of the 1,502,000 recruits since 2009 quit before obtaining a license even. As well, 35% of their licensed force leaves each year. They are 100% an MLM pyramid, and you won't be earning even part time job wages until you reach the RVP level, and even then, only 1% of the 100's of thousands of reps since 1977 ever made $50k+ during any single best 12 month period. Anyone recruited below the RVP level are strictly his personal labour force to generate his money. Does that sound like a good opportunity?
The best place for answers is to review Primerica's annual reports. 84% of the 1,502,000 recruits since 2009 quit before obtaining a license even. As well, 35% of their licensed force leaves each year. They are 100% an MLM pyramid, and you won't be earning even part time job wages until you reach the RVP level, and even then, only 1% of the 100's of thousands of reps since 1977 ever made $50k+ during any single best 12 month period. Anyone recruited below the RVP level are strictly his personal labour force to generate his money. Does that sound like a good opportunity?
In this industry, the failure rate is 90-95% across the board whether it's Primerica, Prudential, NY Life, MetLife, State Farm, Farmers, Joe Blow Insurance Agency, etc. Does not really matter. Most people are not cut out to be business owners and sales.
On the independent side of the Insurance/Financial Services is MLM-ish due to larger Agency subcontracting with smaller Agencies/Agents. These larger Agency are known as IMO/FMO/MGA. These larger agencies are called upline and they override smaller agencies/agents, in return for the contracts and "support"...that's where I get the MLM-ish.
With that said, there are better contracts out there than what Primerica is offering. Many IMO/FMO or even independent insurance agency will give a higher contract if you contract through them. Most would start at the minimum of 50% to 70% contract if you are a complete newbie. If experience and requires no hand holding, contracts can be as low as 75% to as high as 120% contract, it also depends on the insurance company payout to those IMO/FMO/MGA as well.
In this industry, the failure rate is 90-95% across the board whether it's Primerica, Prudential, NY Life, MetLife, State Farm, Farmers, Joe Blow Insurance Agency, etc. Does not really matter. Most people are not cut out to be business owners and sales.
On the independent side of the Insurance/Financial Services is MLM-ish due to larger Agency subcontracting with smaller Agencies/Agents. These larger Agency are known as IMO/FMO/MGA. These larger agencies are called upline and they override smaller agencies/agents, in return for the contracts and "support"...that's where I get the MLM-ish.
With that said, there are better contracts out there than what Primerica is offering. Many IMO/FMO or even independent insurance agency will give a higher contract if you contract through them. Most would start at the minimum of 50% to 70% contract if you are a complete newbie. If experience and requires no hand holding, contracts can be as low as 75% to as high as 120% contract, it also depends on the insurance company payout to those IMO/FMO/MGA as well.
Except you don't own your own business......this is playing someone else's game with your time/money.
And Primerica charges a fee to join, plus other regularly occurring fees once on board. The stated # of policies sold per rep per year is historically in the 2 1/2 range.
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