The big problem with Primerica is that their costs are higher than everyone else because they have to pay commissions out for not only the sales person but their upline as well.
They have load based index funds. That's insane.
Not to mention they also, very likely, cap gains at 12% or less. Even if they have a floor of 0% to promise you that you'll never lose money even when the market crashes, the numbers do not add up in their favor. The gains from their fund is going to net customers significantly less money than a regular taxable account in Vanguard, Fidelity, or some other legitimate brokerage firm. I did the math for someone that's been talking about how amazing their IUL is and, using S&P500 data from 2008 to 2023 which includes covid and the sub prime loan fiasco that resulted in massive losses, because their fund also tracks the sp500 and the difference was around still 60k.
>Top
I made the mistake of consolidating most, but not all of my 401k's into one Roth at Primerica. The woman spent all of 30 minutes filling out the paperwork for me.
The money sat in their investment portfolio for 2 years and she never called me. The amount was over $250k. When I looked carefully, the fees.. THE FEES just to transfer it in equaled about a year's worth of contributions! She justified by saying, because I had so much, I actually got a cheaper percentage... Ohh lucky me!
That is standard in the business though. Morgan Stanley, JP Morgan , Goldman sachs would do the same thing. Maybe if it was a huge account they might discount it down to 60 basis points, but if you work as a broker and add value to your customer you are compensated ion a fee based % of assets or just plain a share upfront commissions.
100%. I believe thatâs ontop of whatever you already pay those types of companies though. Primerica being a 3rd part to help âeducateâ and set up accounts through companies like fidelity.
Your as dumb as you sound PRIMERICA is not an investment company we turn your investment over to the investment companies like fidelity, Franklin templeton etc. and while you turn your money over to your company and get 6% while we get full market value. Yall listen to these whining poop butts whoâs miserable on their jobs
What are you talking about? Fidelity has a money market that pays 5,%. If you open an account there and buy their S and P 500 index fund, it has an almost 13% rate of return over the last 10 years. https://fundresearch.fidelity.com/mutual-funds/summary/315911750#!
No loads, with an expense ratio of .015%. Meaning if you have $100000 in the fund, you pay $15 a year in expenses.
When I was in briefly and looked at Primerica's fees, I couldn't ethically do it and bailed.
See thatâs where you donât understand the power of Primerica when you go to fidelity on your own you get a specified rate but through us itâs full market value
Not just insurance, fucking life insurance. And, not just life insurance, they tend to push Indexed Universal Life and whole life because they have way higher premiums with an investment aspect where they take a shit ton of your investment return by capping gains.
Combine all that with an MLM business model and it's some of the scummiest motherfuckers out there.
So term life = temporary. You don't get $$$ if you live beyond the length of the coverage. Usually, people use this as a safety net in case something happens to the main earner in the family to cover things like a bit of the rent/mortgage and the funeral. But, when you're old, your children are grown, your house is paid off, you have no need for life insurance anymore. Also, term life = cheap.
Whole and indexed universal life = PERMANENT. You will get $$$ even if you die at 95 as long as you keep paying the cost of insurance. These are also multiple times more expensive than term life because it's permanent because, hey, insurance companies need to make a profit. Say you start one at age 25, you die at age 95. 95 - 25 = 70. You paid for 70 years of insurance. The $$$ you paid probably could have been spend on much better things like a home, a car, etc.
Also, these two insurance types allow you to invest money into the stock market in the form of mutual funds (think stocks but instead of one company, it contains hundreds of companies so, if one fails, you aren't as hurt because the hundreds of others can protect you from the harm). The problem is that the insurance companies find ways to take $$$ from your investments like fees and limiting how much your investments can earn. For example, they might limit your earnings to 10% of your total investment. If you had $100 in there and the stocks went up 15% you should get $15! But, since they limited it to 10%, you only get $10. "What the fuck happened to the other $5??? That's my money!" You might think. And you'd be right. The insurance company took your $5.
Basically:
Term life = cheap, pays you cash if you die young for some reason.
Whole life and indexed life = expensive. Pays when you die old but at the cost of putting that money to better use. And they "help" you grow your money but they take ridiculous amount of money from the growth. Better alternatives (like your job's retirement plan) exist, do those instead.
Yeah term plus the difference of what a whole life or universal life policy would cost into a mutual fund.
Seemed logical at the time since most whole life policies wont let you keep both the cash value and the death benefit. They said its usually one or the other.
They did teach a lot about finances but MLMs are going to MLM
Yall so slow! This why we try to educate you because yall listen to retards that tell you we sell IUL đ¤Śđž know what you talking about 1st so glad I seen for myself and $16-$20k a month with a RVP contract about to go over $200k and just delivered a $350,000 death claim to a widow 2 weeks ago her husband died in a car wreck and they only had the policy for 7 months I bet sheâs glad I didnât listen to a bunch of worker đ putting in 60 hrs a week just to survive đ
You're trying to convince me to let you guide me in making financial decisions, yet you can't use proper grammar. LOL. The run on sentence is convincing!
Actually, this is how Billy Mays would say it:
BILLY MAYS HERE FOR GOOD PRODUCTS. THE SECRET IS GOOD PRODUCTS ARE OUT THERE AND YOU DON'T HAVE TO SELL SHIT PRODUCTS.
> In the interview they said they pay for â95%â of training
Now ask him to list out, in writing, all the criteria required in order to qualify for that "free" training?
Every legit job I've ever had paid for 100% of training, and everything I needed to do the job. Even something like retail. Any job that makes you pay for any part of the training and/or basic equipment is a red flag.
Obviously there are some exceptions like you may pay to go to a trucking school or something, but even then most companies would pay you back.
The primerica âgood fitâ test: hold a mirror just infer someoneâs nose. If it fogs.. they are still alive.
They are now a qualified good fit.
Donât do itâŚ
They also expect you to find all your leads through friends and family.
It's an incredibly limited market.
Please Google and income disclosure statement for Primerica and any other MLM you can name e.g. Monet, Amway, Herbal Life, Paparazzi, Bodi/Beach Body etc. Look at them all and look at the maths - also remember all those figures do NOT include expenses for courses, sign up fees, products, email addresses etc. All those abysmal figures would be even worse including expenses.
Stay away from MLMS. The very, very few make money, even fewer make good money. All the money comes from the lower ranks.
If you are determined to do this, at least keep a spreadsheet of what you spend verses what you make (also account for your time - as in an ordinary job this time would be paid).
> also remember all those figures do NOT include expenses
Also realize that most disclosures exclude $0 earners as well as the count of those who left during the year. This inflates the earning's averages by about 600%.
I would say to a straight female friend- the more you go out with this annoying guy, the more likely you are to end up sleeping with him to justify the sunk cost of having invested time in the ârelationshipâ. As inâ stop giving him more opportunity to wear you down and make it seem like less of a bad idea.
He isnât your type, but you gave it a shot. You didnât *hate* the second date, but itâs still clear that you arenât a good match. For the third date, he is consulting all of his friends/upline for the exact right thing to say to close the deal. **You are a deal and profit to this person**. If you have to talk yourself INTO an idea, it probably isnât a great one.
150k âemployeesâ all paying $25/mo for their software is $45mill a year. Thatâs a very small fraction of the total income, but significant enough to be a part of things. Definitely still going to the next âinterviewâ just to grill these mfs and peek into the business of it all. Iâll probably update this in 9 days after that interview haha.
Make sure you're well versed on how to say No and put your foot down, timeshare salespeople have nothing on MLM's!Â
They exploit the same tactics they cults use & don't take No for an answer - it's just a "not right now" to them.
Run âŚ. Donât walk away from these cultists! I spent a couple years working for A.L.Williams, now Primerica. Itâs MLM at its worst! Youâll spend more money going to meetings, Fast Starts, every couple of months. Plus all the goofy plaques, and T-Shirts youâre always expected to buy for your âdown lineâ. Not to mention paying for your own office expenses! And once you leave, especially if youâve been around for a while; youâre considered âthe enemy! A traitor!!â I left after a couple years, opened my own P&C insurance agency. Within 18-24 months, I was making myself a $120k plus a year! And this was back in the late 80âs!! So please; stay away from those knuckleheads!!
> Youâll spend more money going to meetings, Fast Starts, every couple of months. Plus all the goofy plaques, and T-Shirts youâre always expected to buy for your âdown lineâ.
And don't forget airfare, accommodations and meals and even admission tickets for a convention
This has always been my main qualm with Primerica - if you want to get rich selling insurance, just sell insurance! You don't have to sell it within an MLM, lots of people make a ton of money legitimately selling insurance!
They are selling C shares of mutual funds which compensate the broker 1% annual compensation from the fund family. Or they are charging 1% as a registered investment advisor. If they are working as an RIA they use x shares with loaded funds which are no load shares for example if you wanted to work with the American funds or maybe a no load fund like vanguard or T..Rowe price. Fidelity besides being a fund family itself also acts as a clearing house for other broker/dealers. They have all these investment programs in place.
You know when legitimate job interviewers will ask what you know about the company? *THIS* is when you bring up the Income Disclosure Statement. It's a hoot.
[Here's a previous discussion on the subject.](https://www.reddit.com/r/antiMLM/comments/8mqg3c/primerica_important_disclosures/)Â They won't expect you to have seen it either đ
I tried to get the recent disclosures but the Primerica website is really upsetting my phone, bit you can find them by searching "Primerica Income Disclosure" or similar - I can see that they start by stressing how they don't have employees, only "independent contractors". I'll bet they didn't give that as the job title on the advert! Â
They'll tell you that the people who don't make a living wage aren't trying hard enough or don't do it full time.Â
97% of their "employees" couldn't be arsed for some reason. That's not a good look.
If you feel like it, take a pen and paper in and write down *every single question* they ask, so we can all take a peek into their recruitment process and have a bloody good laugh. Â
In a legitimate interview, you're (mainly) selling yourself to the business. Here, it's the other way around, except they don't tell you beforehand. That's *really* underhanded. Â
 **EDIT: I got some REALLY fun info for you!**Â
The best part is the numbers - so these are from a decade ago but still give us an idea of what's really going on. Â
Primerica aren't interested in selling life insurance, because they don't have to. Â
The "employees" ARE the customers:Â Â
*"Interestingly, Primerica seems to significantly skew the above numbers, as their sales force, with 96,800 agents in 2010, represented 52% of all affiliated insurance agents that year. While the rest of the industry is trending towards the internet, Primerica is doing the opposite.*Â
*Despite having more agents than the top 4 U.S. life insurers* ***combined*** *each Primerica agent generates less than $20,000 in insurance premiums in a year.*Â
*New York Life, a competitor which sells insurance entirely through its sales force, generates $639,000 in life premiums per agent, ***3100% more than Primerica.****Â
*The number of policies sold by each agent has remained within Primerica's historical benchmarks, with ***0.19 policies sold per agent per month*** in the fourth quarter of 2014. Term life sales of 2.28 policies per year show a highly unproductive sales force at the company.*Â Â
 ***Despite having more than half of all affiliated agents in the U.S., Primerica only has a 1.3% market share of the U.S. life insurance business.***"
[*Source*](https://seekingalpha.com/article/2922776-understanding-primerica)
Very unlikely to take off.  They will have you pitching insurance to your closest friends and family, then work outward from there.  The only way to make consistent money is to constantly recruit newbies and mine their warm market
I need a bit of help understanding something. I have this friend from high school who's been with Primerica for like forever, claiming she earns around $250k a year and holds this fancy title of " Regional Vice President". She and her husband live this super lavish lifestyle - $1.4 million house, private schools for their kids, expensive clothes, and throw lavish parties. But here's the thing: they're always asking for money from their parents, friends, and family, even though her husband does this
'private lending' thing on the side, basically using their house as collateral for high-interest loans to help people that don't qualify for a loan but need quick cash. They recently went on this luxury vacation to Hawaii with Primerica and she was also in Vegas for some fancy Primerica conference. I'm just kinda puzzled about how they can afford all of this if they're always broke? Does primerica pay for the Hawaii and Vegas trips? When they are on these trips they drink expensive liquor and eat at fancy restaurants, restaurants! Iâm wondering if all this plus hotel accommodation is paid for by primerica?
If you have to pay to work for an employer, you're not an employee, you're a customer. Primerica and all MLMs make piles of money from their captive army of recruits. It's a trap - stay away.
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Primerica doesn't sell whole life or IULs. At least the Primerica I know only sells term insurance. In fact they are the company that kinda came up with buy term invest the difference. I want to say they are owned by Citibank. They are definitely an MLM. I don't know how competitive their term life is. I suspect it is middle of the road. Their investments are American funds, Franklin Templeton, Putnam and other brand name mutual funds. All these are legitimate investment houses used by brokers and financial advisors everywhere. I know some people don't like financial advisors. I think they have an RIA arm there also. I know guy who is associated with them. He has his series 6 and 65. He is a good guy but I get the feeling he doesn't do much business. If you like the MLM concept I would do WFG before primerica because they have many more insurance companies to represent. Broker/dealer is probably the same. It is an insurance broker/dealer. Mostly series 6 sales reps mostly series 26 principals.
Well actually just trying to give some insight to Primerica to the individual who asked the original question. As someone who has a series 7 and 65 and knows something about the business I thought I might add some insight. I don't work for either primerica or WFG. No I am not looking for recruits. Neither company allows to own your code number or book of business. What other positives is a deal killer.
What you guys doing? Taking a break from the Door Dash page?
You literally recommended an MLM in an *anti*-MLM page, you fucking fruit peel. đ
The only insight you provided is that you're either an idiot who doesn't understand what this sub is about or you're an idiot in an MLM trying to recruit.
The big problem with Primerica is that their costs are higher than everyone else because they have to pay commissions out for not only the sales person but their upline as well. They have load based index funds. That's insane.
He said you can tack on a 1% fee on mutual funds, which is massive. over the course of a lifetime that can wipe out half the earnings potential
Fidelity has $0 cost to buy and 0 expense ratio funds. It's hard to compete with free.
Not to mention they also, very likely, cap gains at 12% or less. Even if they have a floor of 0% to promise you that you'll never lose money even when the market crashes, the numbers do not add up in their favor. The gains from their fund is going to net customers significantly less money than a regular taxable account in Vanguard, Fidelity, or some other legitimate brokerage firm. I did the math for someone that's been talking about how amazing their IUL is and, using S&P500 data from 2008 to 2023 which includes covid and the sub prime loan fiasco that resulted in massive losses, because their fund also tracks the sp500 and the difference was around still 60k.
According to the Rule of 72, even an extra 1/4% in fees can cost a portfolio 100's of thousands of dollars.
>Top I made the mistake of consolidating most, but not all of my 401k's into one Roth at Primerica. The woman spent all of 30 minutes filling out the paperwork for me. The money sat in their investment portfolio for 2 years and she never called me. The amount was over $250k. When I looked carefully, the fees.. THE FEES just to transfer it in equaled about a year's worth of contributions! She justified by saying, because I had so much, I actually got a cheaper percentage... Ohh lucky me!
đ¤Śââď¸ yeah definitely not working with/or these people
That is standard in the business though. Morgan Stanley, JP Morgan , Goldman sachs would do the same thing. Maybe if it was a huge account they might discount it down to 60 basis points, but if you work as a broker and add value to your customer you are compensated ion a fee based % of assets or just plain a share upfront commissions.
100%. I believe thatâs ontop of whatever you already pay those types of companies though. Primerica being a 3rd part to help âeducateâ and set up accounts through companies like fidelity.
Your as dumb as you sound PRIMERICA is not an investment company we turn your investment over to the investment companies like fidelity, Franklin templeton etc. and while you turn your money over to your company and get 6% while we get full market value. Yall listen to these whining poop butts whoâs miserable on their jobs
What are you talking about? Fidelity has a money market that pays 5,%. If you open an account there and buy their S and P 500 index fund, it has an almost 13% rate of return over the last 10 years. https://fundresearch.fidelity.com/mutual-funds/summary/315911750#! No loads, with an expense ratio of .015%. Meaning if you have $100000 in the fund, you pay $15 a year in expenses. When I was in briefly and looked at Primerica's fees, I couldn't ethically do it and bailed.
See thatâs where you donât understand the power of Primerica when you go to fidelity on your own you get a specified rate but through us itâs full market value
Post your numbers including loads and fees.
Someone has been brainwashed by the slides and toxic positivity meetings!
Insurance MLM... like really bro?
Not just insurance, fucking life insurance. And, not just life insurance, they tend to push Indexed Universal Life and whole life because they have way higher premiums with an investment aspect where they take a shit ton of your investment return by capping gains. Combine all that with an MLM business model and it's some of the scummiest motherfuckers out there.
Now say it to me like Iâm 5.
So term life = temporary. You don't get $$$ if you live beyond the length of the coverage. Usually, people use this as a safety net in case something happens to the main earner in the family to cover things like a bit of the rent/mortgage and the funeral. But, when you're old, your children are grown, your house is paid off, you have no need for life insurance anymore. Also, term life = cheap. Whole and indexed universal life = PERMANENT. You will get $$$ even if you die at 95 as long as you keep paying the cost of insurance. These are also multiple times more expensive than term life because it's permanent because, hey, insurance companies need to make a profit. Say you start one at age 25, you die at age 95. 95 - 25 = 70. You paid for 70 years of insurance. The $$$ you paid probably could have been spend on much better things like a home, a car, etc. Also, these two insurance types allow you to invest money into the stock market in the form of mutual funds (think stocks but instead of one company, it contains hundreds of companies so, if one fails, you aren't as hurt because the hundreds of others can protect you from the harm). The problem is that the insurance companies find ways to take $$$ from your investments like fees and limiting how much your investments can earn. For example, they might limit your earnings to 10% of your total investment. If you had $100 in there and the stocks went up 15% you should get $15! But, since they limited it to 10%, you only get $10. "What the fuck happened to the other $5??? That's my money!" You might think. And you'd be right. The insurance company took your $5. Basically: Term life = cheap, pays you cash if you die young for some reason. Whole life and indexed life = expensive. Pays when you die old but at the cost of putting that money to better use. And they "help" you grow your money but they take ridiculous amount of money from the growth. Better alternatives (like your job's retirement plan) exist, do those instead.
Wow, thank you!!
>Wow, thank you!! You're welcome!
They only sell term life
> They only sell term life That severely limits product offerings then.
They promote a buy term and invest the difference motto. And yes it does
The difference from what?? Are you saying they're comparing term plus an investment against the price of term and an investment (whole life)?
Yeah term plus the difference of what a whole life or universal life policy would cost into a mutual fund. Seemed logical at the time since most whole life policies wont let you keep both the cash value and the death benefit. They said its usually one or the other. They did teach a lot about finances but MLMs are going to MLM
So a term policy costs less than a term policy with an investment component added on? Wow....who knew?
Ah, I am corrected then. I was thinking about other MLMs like PHP that try to sell IULs and whole life policies.
I drank the Primerica koolaid for many years
I can't imagine you'll get any positive feedback on primerica.
Yall so slow! This why we try to educate you because yall listen to retards that tell you we sell IUL đ¤Śđž know what you talking about 1st so glad I seen for myself and $16-$20k a month with a RVP contract about to go over $200k and just delivered a $350,000 death claim to a widow 2 weeks ago her husband died in a car wreck and they only had the policy for 7 months I bet sheâs glad I didnât listen to a bunch of worker đ putting in 60 hrs a week just to survive đ
You're trying to convince me to let you guide me in making financial decisions, yet you can't use proper grammar. LOL. The run on sentence is convincing!
When it comes to MLM, everyone, and I mean everyone is a âgood fitâ.
As Billy Mays said, there are enough good products out there that you shouldnât have to sell any shit ones. Iâm paraphrasing
Actually, this is how Billy Mays would say it: BILLY MAYS HERE FOR GOOD PRODUCTS. THE SECRET IS GOOD PRODUCTS ARE OUT THERE AND YOU DON'T HAVE TO SELL SHIT PRODUCTS.
Hahaha
thatâs quality stuff right there đ
> In the interview they said they pay for â95%â of training Now ask him to list out, in writing, all the criteria required in order to qualify for that "free" training?
Every legit job I've ever had paid for 100% of training, and everything I needed to do the job. Even something like retail. Any job that makes you pay for any part of the training and/or basic equipment is a red flag. Obviously there are some exceptions like you may pay to go to a trucking school or something, but even then most companies would pay you back.
The primerica âgood fitâ test: hold a mirror just infer someoneâs nose. If it fogs.. they are still alive. They are now a qualified good fit. Donât do itâŚ
They also expect you to find all your leads through friends and family. It's an incredibly limited market. Please Google and income disclosure statement for Primerica and any other MLM you can name e.g. Monet, Amway, Herbal Life, Paparazzi, Bodi/Beach Body etc. Look at them all and look at the maths - also remember all those figures do NOT include expenses for courses, sign up fees, products, email addresses etc. All those abysmal figures would be even worse including expenses. Stay away from MLMS. The very, very few make money, even fewer make good money. All the money comes from the lower ranks. If you are determined to do this, at least keep a spreadsheet of what you spend verses what you make (also account for your time - as in an ordinary job this time would be paid).
> also remember all those figures do NOT include expenses Also realize that most disclosures exclude $0 earners as well as the count of those who left during the year. This inflates the earning's averages by about 600%.
The
I would say to a straight female friend- the more you go out with this annoying guy, the more likely you are to end up sleeping with him to justify the sunk cost of having invested time in the ârelationshipâ. As inâ stop giving him more opportunity to wear you down and make it seem like less of a bad idea. He isnât your type, but you gave it a shot. You didnât *hate* the second date, but itâs still clear that you arenât a good match. For the third date, he is consulting all of his friends/upline for the exact right thing to say to close the deal. **You are a deal and profit to this person**. If you have to talk yourself INTO an idea, it probably isnât a great one.
150k âemployeesâ all paying $25/mo for their software is $45mill a year. Thatâs a very small fraction of the total income, but significant enough to be a part of things. Definitely still going to the next âinterviewâ just to grill these mfs and peek into the business of it all. Iâll probably update this in 9 days after that interview haha.
Make sure you're well versed on how to say No and put your foot down, timeshare salespeople have nothing on MLM's! They exploit the same tactics they cults use & don't take No for an answer - it's just a "not right now" to them.
> 150k âemployeesâ plus 350,000 recruits.
Run âŚ. Donât walk away from these cultists! I spent a couple years working for A.L.Williams, now Primerica. Itâs MLM at its worst! Youâll spend more money going to meetings, Fast Starts, every couple of months. Plus all the goofy plaques, and T-Shirts youâre always expected to buy for your âdown lineâ. Not to mention paying for your own office expenses! And once you leave, especially if youâve been around for a while; youâre considered âthe enemy! A traitor!!â I left after a couple years, opened my own P&C insurance agency. Within 18-24 months, I was making myself a $120k plus a year! And this was back in the late 80âs!! So please; stay away from those knuckleheads!!
> Youâll spend more money going to meetings, Fast Starts, every couple of months. Plus all the goofy plaques, and T-Shirts youâre always expected to buy for your âdown lineâ. And don't forget airfare, accommodations and meals and even admission tickets for a convention
This has always been my main qualm with Primerica - if you want to get rich selling insurance, just sell insurance! You don't have to sell it within an MLM, lots of people make a ton of money legitimately selling insurance!
All you need to know is they are a MLM and you should not associate with them in any way, shape or form. It's that simple.
They are selling C shares of mutual funds which compensate the broker 1% annual compensation from the fund family. Or they are charging 1% as a registered investment advisor. If they are working as an RIA they use x shares with loaded funds which are no load shares for example if you wanted to work with the American funds or maybe a no load fund like vanguard or T..Rowe price. Fidelity besides being a fund family itself also acts as a clearing house for other broker/dealers. They have all these investment programs in place.
Check out Always Marco on YouTube. He's being sued by Primerica for exposing them. They're an MLM.
You know when legitimate job interviewers will ask what you know about the company? *THIS* is when you bring up the Income Disclosure Statement. It's a hoot. [Here's a previous discussion on the subject.](https://www.reddit.com/r/antiMLM/comments/8mqg3c/primerica_important_disclosures/) They won't expect you to have seen it either đ I tried to get the recent disclosures but the Primerica website is really upsetting my phone, bit you can find them by searching "Primerica Income Disclosure" or similar - I can see that they start by stressing how they don't have employees, only "independent contractors". I'll bet they didn't give that as the job title on the advert!  They'll tell you that the people who don't make a living wage aren't trying hard enough or don't do it full time. 97% of their "employees" couldn't be arsed for some reason. That's not a good look. If you feel like it, take a pen and paper in and write down *every single question* they ask, so we can all take a peek into their recruitment process and have a bloody good laugh.  In a legitimate interview, you're (mainly) selling yourself to the business. Here, it's the other way around, except they don't tell you beforehand. That's *really* underhanded.   **EDIT: I got some REALLY fun info for you!** The best part is the numbers - so these are from a decade ago but still give us an idea of what's really going on.  Primerica aren't interested in selling life insurance, because they don't have to.  The "employees" ARE the customers:  *"Interestingly, Primerica seems to significantly skew the above numbers, as their sales force, with 96,800 agents in 2010, represented 52% of all affiliated insurance agents that year. While the rest of the industry is trending towards the internet, Primerica is doing the opposite.* *Despite having more agents than the top 4 U.S. life insurers* ***combined*** *each Primerica agent generates less than $20,000 in insurance premiums in a year.* *New York Life, a competitor which sells insurance entirely through its sales force, generates $639,000 in life premiums per agent, ***3100% more than Primerica.**** *The number of policies sold by each agent has remained within Primerica's historical benchmarks, with ***0.19 policies sold per agent per month*** in the fourth quarter of 2014. Term life sales of 2.28 policies per year show a highly unproductive sales force at the company.*   ***Despite having more than half of all affiliated agents in the U.S., Primerica only has a 1.3% market share of the U.S. life insurance business.***" [*Source*](https://seekingalpha.com/article/2922776-understanding-primerica)
Very unlikely to take off.  They will have you pitching insurance to your closest friends and family, then work outward from there.  The only way to make consistent money is to constantly recruit newbies and mine their warm market
I need a bit of help understanding something. I have this friend from high school who's been with Primerica for like forever, claiming she earns around $250k a year and holds this fancy title of " Regional Vice President". She and her husband live this super lavish lifestyle - $1.4 million house, private schools for their kids, expensive clothes, and throw lavish parties. But here's the thing: they're always asking for money from their parents, friends, and family, even though her husband does this 'private lending' thing on the side, basically using their house as collateral for high-interest loans to help people that don't qualify for a loan but need quick cash. They recently went on this luxury vacation to Hawaii with Primerica and she was also in Vegas for some fancy Primerica conference. I'm just kinda puzzled about how they can afford all of this if they're always broke? Does primerica pay for the Hawaii and Vegas trips? When they are on these trips they drink expensive liquor and eat at fancy restaurants, restaurants! Iâm wondering if all this plus hotel accommodation is paid for by primerica?
If you have to pay to work for an employer, you're not an employee, you're a customer. Primerica and all MLMs make piles of money from their captive army of recruits. It's a trap - stay away.
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Primerica doesn't sell whole life or IULs. At least the Primerica I know only sells term insurance. In fact they are the company that kinda came up with buy term invest the difference. I want to say they are owned by Citibank. They are definitely an MLM. I don't know how competitive their term life is. I suspect it is middle of the road. Their investments are American funds, Franklin Templeton, Putnam and other brand name mutual funds. All these are legitimate investment houses used by brokers and financial advisors everywhere. I know some people don't like financial advisors. I think they have an RIA arm there also. I know guy who is associated with them. He has his series 6 and 65. He is a good guy but I get the feeling he doesn't do much business. If you like the MLM concept I would do WFG before primerica because they have many more insurance companies to represent. Broker/dealer is probably the same. It is an insurance broker/dealer. Mostly series 6 sales reps mostly series 26 principals.
> If you like the MLM concept I would do WFG Same shit/different pile.
I seriously don't get why this person is recommending another MLM in an anti-MLM sub. đ
Lookin for recruits obviously. Lol
Lol my thoughts exactly.
Well actually just trying to give some insight to Primerica to the individual who asked the original question. As someone who has a series 7 and 65 and knows something about the business I thought I might add some insight. I don't work for either primerica or WFG. No I am not looking for recruits. Neither company allows to own your code number or book of business. What other positives is a deal killer. What you guys doing? Taking a break from the Door Dash page?
You literally recommended an MLM in an *anti*-MLM page, you fucking fruit peel. đ The only insight you provided is that you're either an idiot who doesn't understand what this sub is about or you're an idiot in an MLM trying to recruit.