Chosen by Asker

Primerica is a regulated financial company and in order to offer the products to potential clients, you have to be properly licensed. Being licensed protects you and the consumer because you will get the education needed to talk about the products and do comparisons correctly. Without a license, you will not get compensated by the company and if you talk about the products without your license, you can be fined and possible sanctions imposed on you by the government. I've been in Primerica since 2004 and I had no background in financial services. I graduate from college with a degree in Economics. While I was interviewed by many financial companies to be a financial rep or financial advisor, I would never recommend anyone to those companies. For a financial needs analysis, the companies I was interviewed at charge anywhere between $500 to $2000. At Primerica, they do it for free. Other companies focus more on selling, while Primerica focuses on educating families and providing solutions. In other companies, I would be a sales person and all my income will be base solely on me. So I won't be able to build a team of my own. At Primerica, I would be an independent business owner that gets to earn overrides on my recruits. So my income would be base on my personal production and production off my team. As time goes on, I learned many things about finances and understood how all the products work and how to do a comparison. 90% of the time, the products offered by Primerica is better than what the client currently has. Maybe once in awhile, I will have a client that is doing financially well and don't need any help. But Primerica's market is middle income families. Do you agree that middle class families work very hard, but find themselves wondering where does all their money go at the end of the month? That's how my family was. Many families are drowning in debt, finding it hard to save any money, and if they don't have life insurance and one of the parents dies, it would be financially devastating. Primerica helps families get rid of debt, save money, and be properly protected with life insurance. Whether you join the business or not, this is truth about what I do for families. Every time I help a family, I feel great about what I was able to do and the client feels happy too because they now have a game plan to get out of debt, build wealth for retirement, and have a financial tool that will help them reach their financial goals. The best part of all this: For most of my clients, it doesn't cost the client a penny more than what they are currently spending. If a client spends $2000/month on various bills, at the end of the day, they will still be using $2000/month, except more of the $2000 is going toward savings. The only time where my client will need to spend a little more is when they have no life insurance at all and have very little debts. Hope that helps you understand what Primerica is all about.

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by Primerica Debate Team

5 months ago

Asker's Rating: 

If you checked up on Primerica, you would find it is part of CitiGroup, along with CitiBank. Yes, you have to pay to take the course. And you have pay to take the state exam (the state requires it!), and you have to pay for your license. Again, the state requires that you pay for your license every year -- it's the law.

by ibu guru- 5 months ago

A lot of people say bad stuff about them and I'm not sure why. They really helped my family out with life insurance and investments. I'm going to have over 2 million dollars more at retirement because of them. I think the biggest hangup is the over-ride system they have. Americans don't have a concept of business ownership anymore. It bothers people to make money of their employees. All I know is that if I owned a business I would not give my employees the same amount of money I earn! What would be the point of owning a business! Good luck though!

by E- 5 months ago

Primerica is an insurance company that only sells term insurance. Their philosophy is to sell term and invest the rest. Get a group of people together, show them on paper how by buying a term policy instead of whole life, they can invest the difference, and in 30 or 40 years or so, come out ahead of the game by investing what they would have spent on a whole life policy. The idea sounds okay, and the print-out you are given looks on the up-and-up, but the reality is, how many people are actually going to save any difference year after year? Things come up, weddings, hospitalization, new car, bigger home, loss of job, and none of this is taken into consideration, meaning a handful out of 100 may actually start, continue, and finish with the millions they are told they will have at the finish line. On top of this, Primerica puts more interest into recruiting than selling. You will be told, just like someone else told you, to come to a speech, nothing to lose. Be your own boss, make millions, why work for another, cannot be fired, and all the other cliches. Yes, you have to get your license, and you will pay for everything, and if and when you pass your tests, you will always pay for everything, as you will be on straight commission. If you sell, you make money, if not, you don't eat that week or even longer. Primerica is a pyramid. If you get "hired", and sell a policy, you will make a few pennies, and so will your trainer, and his boss, and his boss, and the owner also, all the way up the line. If you bring in another, and he sells a policy, you will also make money, as will the entire line ahead of you. In summary, if you know countless people just waiting for you to get your license and sell them insurance, and in turn they know many others to refer you to, and so on, and you have a charismatic personality whereby people cannot say no to you, and in addition, you have lots of money saved up, since you will be paying for everything, then go for it. If not, get a real job. Or you can just become a recruiter, and approach people, bring them to the party, and hope they do the work for you. And lastly, remember in this economic downturn, where 10% of people are out of work, have lost value in their homes, and have seen their 401K's dwindle, who has money to buy insurance, which ranks down there with car salesmen.

by Mr. Prefect- 5 months ago

The simple answer, NO! I've been there and know what they're about. I'm so fed up with the false information they spread and the horrible products that they sell under false pretenses that I spend a LOT of time on sites like these warning people not to get involved. The normal reply to my comments is that I'm "worried" that they're taking my business. It makes me laugh as I wouldn't get caught dead selling the crap they sell, especially at the outrageous prices they charge. No one knows who I work for, so I'm obviously not trying to get business out of it. There are a lot of great companies that I compete with, Primerica is not one of them. For more information, click on my profile and look at the answers I've left for previous Primerica "prey".

by primericaisbad- 5 months ago

I trust them with my finances and their products is legit and actually helps people versus products that just takes your money without doing anything good for you. I consolidated all my debts through their SMART loan program, which lower my monthly payment and took off my debt years from 28 yrs to 8 yrs. I saved over $200k in total interest too (this is all coming from the amortization schedule). I own their 20 year term insurance and by the time my term ends, I should have at least $300k saved. The only reason I have life insurance is because I have debts to pay and have little savings. I invested in American Funds through them and despite the rough year we are having in the economy, some of those mutual funds have an average rate of return of 10% to 14% in the past 10 years. A company that is so diversified and the biggest marketing financial company in America, how could it be a scam?

by Finance1o1.blogspot.com- 5 months ago