Much has been said about Primerica. Still, many have questions. Is this a company I can trust? Do I have to recruit people to make this work? Will the products actually help people? Can I really make a living doing this and maintain my self respect?
The rest of this page is devoted to answering those questions.
But I need your help. Do you have a story to share? Are you currently, or have you ever been a Primerica representative? If you have some experience actually working with/for Primerica there are hundreds of people who need to hear your story. Please email me at chris@3thinks.com with a report detailing your experience. I will then post your story on this page for the world to read and learn from. I may edit for spelling and grammar, follow up with clarifying questions or add headings, but beyond that you’re experience will be posted as is.
Please do not contribute (email) if you are still in the decision making process, or simply want to voice an opinion. The place for questions and/or observations from outsiders is in the comment section below. Good or bad, positive or negative, I will only publish stories from people with actual experience. Please do not email me with your opinions if you haven’t experienced Primerica in some capacity.
My hope is that we can collaborate here to create a valuable resource others can use to make educated decisions about Primerica and the business opportunity they offer.
And now, let the truth be told:
3/22/09–With Primerica 2 Months: How it all Begins:
By Eric
An Introduction
I recently got on board with Primerica about 2 months ago. I am currently working for AT&T and had a business customer come in inquiring about certain types of PDA devices. Upon giving the customer all of the information I had on the certain device, he advised me that he still had time left under his current contract with another cell phone company & that he would have to wait & switch & I obviously understand the situation & thought that would be it. I noticed the gentlemen had a large championship style ring & asked him if he had won a Superbowl. He said he had not, & although he didn’t necessarily need to share the information with me, he explained how it was an income recognition ring from his company. I found it rather interesting, thanked the gentlemen for his time, & gave him one of my AT&T business cards for the future.
An Invitation
A few days later I get a phone call from the customer randomly. He explained to me that he liked how I was very explanative with him & not pushy like normal sales people even when I knew I wasn’t getting the sale that day. He asked me if I planned on being with AT&T forever & I thought about it & said no. He briefly continued to explain to me furthering the conversation from before that his company helps people build their own business’s & become financially sound. He then asked me if I’d be interested in coming down to a company overview seminar to find out a little bit more about a company called Primerica. After some thought I accepted & went down for the company overview called a “Fire your boss” seminar, led by one of the founders of the company who was currently a National Sales Director.
The Presentation and Compensation
I sat through the presentation (which I found very informative & inspiring) explaining how the company helps people learn how to become financially sound & improve the quality of their life. The way they explained the commission makes sense, & here’s where most people’s views of Primerica seem to go sour. They pay like Real Estate, or a travel agency. There’s a broker, who under him has sales managers, who under them have agents & sales reps. When The agent makes a sale, the sales manager gets an over ride, & the broker gets an over ride as well of course.
Though with real estate, the broker never wants the sales rep/agent to become the broker, because then he wont be able to make commissions & the successful agent will probably end up going elsewhere. With Primerica, the company WANTS you to succeed. There are a lot of different tiers & promotions, & the top of the ladder is a “Regional Vice President” with the company, & the entry position is an agent.
The gentlemen who came into my AT&T store & invited me to come on board was a Regional Vice President with the company for over 20+ years. It’s easy to tell that the gentlemen is clearly established, successful, & did not need to spend any of his time dealing with a young 23 year old AT&T sales rep. But he did. My Regional Vice President (RVP), in the time that he has available & in the time that I have available, has shown me a great deal about the company, the financial industry, & how to become financially sound.
Why is this?
Building a Business of Your Own
Well if I become successful & do business for the company, for him investing his time with me, of course he will make an over-ride, which, I have no problem with. But the beautiful thing about Primerica is, he has a vested interest in my success, because if I do continue working my way up the ladder with Primerica, eventually get my own office & become a Regional Vice President, there’s incentive for my Regional Vice President having trained me & shown me the way to get to that point.
With a Real estate company, they want you to continue working for them & selling forever.
Now, of course, people bring up “pyramid” & Amway, & stuff like that. To that I say, “What business is not a pyramid?” I work for an AT&T authorized retailer. AT&T pays my company, my company pays my store owner, & my store owner pays me. My store owner never wants me to have my own store or take over them. My present company isn’t showing me how to own my own business, or become financially independent.
Helping People
With my first client, my first appointment, we were able to help a client paying $865 a month for less than $1 million worth of cash value life insurance he had over 4 policies. We were able to help him cut his monthly premium down to $265/mo for the same amount of coverage with $25,000 on both of his children. That’s over $7000 a year we were able to save the client, plus the investment opportunities we’re able to offer. Most people don’t know what they’re getting & what they’re paying for with insurance, & Primerica helps people understand & gain a better perspective of where they’re spending their money.
Yes there are other aspects to the business such as recruiting & training, but in what business do you not train & bring in new people that you want to share your success with. While most companies are downsizing, Primerica is always expanding & looking for good new people who would like to either; A) Learn how to become financially independent and/or B) Help others become financially independent & sound.
You get out of it what you put in. Most people do not succeed at lots of things in life because they don’t put forth the right effort. Nothing will be handed to you in life as you travel on & you have to work to put in time to see results. If you ever have any questions, don’t hesitate to e-maill me @ evan.snow13@gmail.com
Hope this helps you out there
13 Responses
You should be questioning companies like Ameriprise. I used and adviser from Ameriprise who had me financially indepentent with a Universal Life policy at age 65. Primerica showed me how saving the same amount of money each month that I would be financially independent at age 50…and they were right. Ameriprise wanted me to give them money for 15 more years and they screwed me with UL policy. They don’t care about the consumer only their pockets. After 50 I decided to fire my boss and now I work with Primerica part time. I have the freedom flexibility and the ability to help people who would like to retire themselves some day. It’s a great company.
Posted on March 22nd, 2009 at 5:35 am
I am a fairly new rep, only being in the company now for 35 days. I had an agent come to my house and show me what primerica could do for my family. After my Financial needs analysis was completed, the agent informed me that the mortgage I was currently in was better than what she could offer me. She then showed me how I can be out of debt in 8 years instead of the 25 years i was looking at with my mortage and who knows how long with my consumer debt. She also pointed out that I was paying 62 dollars a month on a term policy for my wife and I, which was good, but she could offer me 3 times that coverage for 58 dollars. I was pleasantly surprised. Although she could have tried to sell me a new loan, she did what was right for me and my family. After I saw her integrity and her passion for what she did, I wanted to see if I could do it to. I went to an opportunity meeting and saw the excitement that everyone there had for what they do and I wanted my piece of the pie. Everyone in my base shop is awesome and they want to help each other achieve their goals. I will admit that this job is hard, you have to work to get results. you can’t just sit there and expect things to fall into your lap. I have followed the system and have seen success. I still work full time at my other job, attend college, and find time to spend with my family. All while working part time with Primerica. In my 35 days I have done 3 life insurance sales and 3 smart loans. that is sitting down with 7 families. If I had more time, i would have seen more success. I believe that Primerica is great, I am thankful to have this opportunity, i am thankful for having a great base shop, I am thankful for having the RVP and the Trainer that I have. Yes Primerica isn’t for everyone, but how would you know it isn’t for you if you are not willing to try? Don’t count on the internet to make your decision because anyone with a computer can post something. Count on your own experiences to make your decision, i promise you if you get involved and do do what your trainer teaches you, you will see success. Nothing Ventured Is Nothing Gained!
Posted on March 29th, 2009 at 8:55 am
I worked with this company about 3 years ago. I was recruited by being “shopped” at my current job and unknown to me, I had assisted the fiancee in her search for an item. They took my name down and contacted me at work later on. I found that odd, but curious to what they had to say since they were “expanding” to Chicago. I had to pay the non-refundable $199 to get enrolled to get liscensed for selling insurance and the background check. Week after week, we had meetings at the recruiter’s apartment and up at their main office in Pewaukee, WI. I had to take my own vehicle and there was no compensation for any of the time spent and mileage for traveling up north. I realized that it was full commissioned sales and they rely on those close to you to make the deal and become recuited with the company, so I can essentially make money off my friends and family. After 6 months of no pay and no compensation, I decided this wasn’t the route I wanted to be headed in. For those who are dedicated to doing this 100%, this may be the job and company for you. I couldn’t be 100% dedicated to this, as I worked a main full-time job. They expected me to quit my current job and work full-time for them.
Posted on March 29th, 2009 at 4:19 pm
Thank you for the information on this company, they approached me as well and I am scheduled to attend a seminar. I do not believe I will be attending after reading this, I am not interested in sells at all and I refuse to pay someone and I dont receive a paycheck myself. Thank you Eric
Posted on April 9th, 2009 at 5:07 am
Hi Chris! I “came” from your other blog (which is very informative if i might add) and I decided to join Primerica mainly for the financial education, part-time opportunity and tax “write-off”s. I figured the initial cash investment was minimal, the time investment was okay since I was just wasting time anyway watching TV. Do you guys think I made the right decision? By the way, I have been a client with term life and seg funds for 2 years. (Ontario, Canada)
Posted on April 15th, 2009 at 1:04 pm
am thinking of joining Pfs. have series 7,63, &65 as well as cprc desig. am bothered by the recruit. angle though. shouldn’t one first build it thru ones own work than try to “recruit” anybody? how does that serve the client? it seems to me after many blogs that a lot is determined by your “recruiter” or rvp as to how you perceive the co. pls. advise.
Posted on April 16th, 2009 at 8:12 am
Hi i talk with a primerica saleman on yesterday i ask her a question about my mortage i ask her if i could put my mortage and my other bills up for a loan so i can pay less what i am paying now she told me i live in a mobel home park she say they would not be able to help me i have to have my own land but i told her every body not fianace enough to have land when you are a single parent with kids and paying bills by myself how can i get land i know it something out there that they can come up with to help people that dont have land if i did had land and could afford it i wouldnt have put my home in a trailer park she say that they use to do it for people and they got the help and later on they had their homes move to another location and they never could found them i told her you cant match other people with the bad you got to trust people like the company want us to trust them i wouldnt mind working for primeria to make money if they would help me because i know a lot of people that got their own land and other bills they would be glad to have their bills cut down a lot but you have to put your whole time in it to work if you ask not you get not every thing you do now out of ten people you may get two people out of ten you still may money when you try that when things picks up.
Posted on April 17th, 2009 at 10:41 am
May I just interject a few comments to those of you on this sight, (I.E Keisha) who are trying to decide whether or not to ATTEND a meeting, 60 minutes of your life, to gain at worst case a bit of education . I would say that from your apparent unwillingness to do your in person investigation, you would be doomed for failure in such an endeavor. Chris, I hope I have not strayed from your intent of this sight. I have such a problem with anyone that soley relies on others opinions or experiences to make up their mind, and make a final decision. If you really get to nitty gritty of Eric’s story, he didn’t make any money and because he personally couldn’t get the job done, he needs to run down the company.. Too bad!
Posted on April 18th, 2009 at 11:13 pm
Just wondering why Primerica reps continuously use the terms “I fired my boss” and “work creators instead of just work processors”.
I think it may have to do with the seminar/training, but did anyone actually fire their boss (ie. their boss had to pack up his belongings and no longer worked at the old job anymore.). Also, while it may seem empowering to think you are work creators, what do you mean by that? I have an interpretation on what it means, but I’d welcome thoughts on what that means from a Primerica rep.
I work a “mostly” 9-5 job [with a great deal of flexibility], but I am creative and generate action items for others to act upon, and I am in a position of relative authority to track, monitor and manage those actions so that teams/groups will have positive outcomes. How did I get to that position? By always being creative in my thoughts of process improvement and when I was ealry on in my career and didn’t have the opportunity to direct others to act on these items I would tackle them myself (ie. I was a work creator who then processed my own work). By doing this early on, and MAKING SURE I was being recognized for this work, I have come to the position where others realize that my real skill is in creating, organizing and managing the work (with measurable outcomes/goals/improvements associated before the work even begins) and having others without this ability be the ones to process the work. So, I can understand how empowering the idea of “work creator” can be, but I temper my work by always keeping the outcomes in mind.
Posted on April 23rd, 2009 at 7:50 am
I also went to the presentation, saw the video and did buy the license. I studied, and took and passed the State test to sell Life insurance.
Primerica serves their customers on several levels. They have the smart plan for morgages, they do debt stacking, to get families debt free years earlier. And, they offer a high quality, no BS term life insurance product. They also market good, legitimate mutual funds.
Nobody else cares about your quality of life, or makes any effort to get you debt free.
That having been said, they can’t help every body on every level every time. But, at least they try!
I did read several of the web sites that are critical of the company before I spent the time and the money, and the only consistant underlying themes are that;
1. They ask you to try something new.
2. They have a pay set up similar to a real estate office. Motivated people get ahead.
3. By getting people to work “under” you, when you successfully train them, and they make money, you make money.
How often do you train a new boss at your day job, and get recognized for it? Or rewarded for it? The answer there is (a) often, and (b) rarely if ever.
Not everyone is cut out for sales. That’s just the way it is. But of all the criticism I’ve seen, it has never been about the policy not paying out. Most people know NOTHING about insurance, or finances for that matter. If they tought the subject in school, we might not be in the mess we are in now!
If you went to college, and got a degree, and have a 3% debt ratio, good for you, you are one of a very small minority. If, on the other hand, you don’t understand how it all works any way, you probably need some help. They might be able to help you. Or, they might not.
If not, it isn’t because they are trying to scam you!
Posted on April 27th, 2009 at 1:21 am
Im a newly licensed representative for PFS. It’s been height month i’m now implicated with the company and I am a disctict leader, which mean I achived some goals that gave me a promotion and what gives me better comissions(its one of the very first step to become RVP). People shouldn’t ask or seek for succes or failure stories. Everything is about the mindset, the mindset of running a business is FAR away from the mindset of having a job in the corporative world and people have to make the distinction! What Im trying to explain is that It doesn’t mean you won’t succeed in pfs if your brother/sister/friend/parent failed, the opposite is also true. Every case is different, I approximatively counted 1 person on 10 that really stays focus and don’t leave the company. Are they smarter? Are they better? no! they just understand that the mindset they have to adopt is different and that their succes only depend on THEM which make them push and work harder! Does that mean that the company is bad if people fail? make your own idea on that point but I think that when you want to succeed, In ANY businesses, you won’t find excuses, you will just do it!… You can be sceptic, it’s ok, but only if that scepticism comes with an open mind! In that case, you have nothing to lose but one hour at a seminar, go get your own Idea!
(P.S for those who may be interested, buy the book “Rich dad, poor dad” (20$) the title tells what the book is about!,,,mindset!)
Posted on May 7th, 2009 at 2:26 am
PFS is for the ultra motivated to succeed. If you spend most of your time watching tv and complaining about the stuff you see than having to earn a living by commission is not for you. If you wake up and want to make a difference in your life by helping people better themselves and there future than PFS is a company you should invest $99, thats the fee in california, also that fee is for a background check.
PFS pays for your licensing and education. Like I said if you are not motivated from the inside out than go get a 9 to 5 job, PFS is for people that want to work hard and make there own schedule, which is very difficult for the average joe. Another thing I like is that even if you stay in the business for 6 months and spend a whole $99 to get licensed the knowledge that you gain will help you for the rest of your life no matter what job you have. PFS focuses on recruiting and teaching which most people are not used to. The products at PFS sell themselves you really dont have to be good at sells. So if you are thinking about joining make sure you are motivated and actually want to make money and not have it handed to you. You can do that by staying at your current job and talking under your breath everytime your incompetent boss tells you to do something you should have taken the initiative to do anyway.
Posted on May 7th, 2009 at 8:57 am
“Primerica serves their customers on several levels. They have the smart plan for morgages, they do debt stacking, to get families debt free years earlier. And, they offer a high quality, no BS term life insurance product. They also market good, legitimate mutual funds.”
I have news for you, rookie…the mortgage is ANYTHING but smart, debt stacking is nothing new or something PFS invented or does exclusively, the “no BS” term life insurance is all you can sell there (because they don’t want you to have to pass the more difficult tests to work there), and the prices for the insurance are upwards of 50% higher than other companies. Are there any illegitimate mutual funds? LOL
You’re not licensed to talk about mutual funds. If you were (like a very small percentage of PFSers), you might know that the mutual funds carry some of the highest expenses out there.
PFS is not what you think.
Posted on May 16th, 2009 at 10:45 am
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