Re: Re: Re: Insurance Agent earnings

Subject: Re: Re: Re: Re: Insurance Agent earnings

Comments:
: : : You mention that Citigroup has the products and that the senior market is getting ready to explode. The question I have is, "How are you going to service that senior market when the only thing you can offer them is LTC insurance?" You don't have the proper products for wealth transfer issues. Granted, Cititgroup has them but in order for you to market them you would have to go against Primerica's beliefs that term is the right thing 100% of the time. : : ****Mr. Smith, Primerica isn't A.L. Williams anymore. Art Williams ideals arn't Citigroups ideals (at least that's my opinion). Citi is beholden to the stockholders. Primerica is a distribution machine. From what i've read, Sandy didn't want PFS because of the BTID, it was market penetration. : ****The only problem with your agrument is the fact that Primerica still uses the platform that BTID is the only way to go and if you have a CV policy then the agent that sold it to you was ripping you off to get a higher commission. : I actually agree with you that a company has to change with the marketplace in order to maintain its market share. The problem that exists is the fact that Primerica has built itself on BTID and protecting the consumers against all the other evil insurance companies. To change direction now to match the needs of the market would mean that you would have to re-teach all your agents and show them how permanent products have their place. How are all the old-timers going to justify changing what they have preached for years. Do they suddenly tell all their people and clients that they we not quite right when it comes to the uses of permanent insurance? How do you go back to all of your old clients and now tell them that they need a permanent plan after you replaced their permanent plan years ago? : : : At one time Art Williams influenced what the sales force mantra was, now the influence will come from Citigroup. Good or bad, that's the way it is. : ***Are you saying that maybe Art wasn't 100% correct in his teachings? : : You ask how i'm going to service that market? : : That's a business decision. : : : Are you telling us that because a new large market is evolving that Primerica will change its beliefs and start selling permanent products? I wouldn't be surprised. When I was with them in the early 90's they preached on the evils of annuities. That is, until they developed their relationship with the Travelers and came out with their product that they tried to convince everyone that it was different from those evil annuities that the other companies sell. Please!! : : *****100% term all the time is for a certain market group, once another market opens up, the ideals and products adapt for that market. This is a whole different financial enviroment we are in since the A.L.W. days. The key for business is distribution, growth and market share. Primerica give that to Citi, and Citi has the power to adapt as the market dictates. : : Now after that said, is Primerica a great opportunity? Yes, for the right person. Are there better opportunities out there, Yes, for the right person. : : : : : I remember my RVP bragging that the annuity that they sell doesn't annuitize. Guess what? Everyone offers an annuity that allows penalty free withdrawals after the first year. How many years is it before you can do that with yours? I also have fixed annuities that can offer 11.24% return guaranteed in the first year. : : ****Mr. Smith i'm not trying to compare products. I'm sure you've done spreadsheets on different products and premiums, and you've seen that everything isn't always as it seems. : : : I have never bagged on recruiting per se. I bag on it when it is misleading and deceptive, (that applies to any company that uses those techniques). Here is an example of misleading: When you call a potential recruit and tell them that you are opening 10 offices in the area and that you need managers for them. My question is: Do you have a plan as to where those offices will be located? When are you planning to open them? If you cannot answer these questions then you have been misleading. Any legitimate company that makes a claim like that can back it up with hard numbers, dates, etc. : : *****Jeff, can I call you Jeff. Your asking for a business plan. People are recruiting to open offices they may not have a written plan to do it, but the goal is to build RVP's. To you that may be misleading, but to me it's not. I'm sure the company your with wants to have a certain amount of offices or agents in place by a certain time. Can your company pass the same test? : ***Every business wants to open more offices or outlets, etc. I would feel deceived if someone told me they were looking for managers for the 10 new offices they were going to open and then find out that the 10 offices are just a goal based on the hope and dream of making RVP. Most companies that recruit by saying they are opening offices actually have a written plan and they have people that are actively looking for the locations of these future offices. : It would be different if they told the person that are looking for people to help in their growth and expansion and that the GOAL is to open 10 new offices. The problem is the fact that is not the way it is stated. It tends to be stated as more of a fact that it is going to happen. I wish you could look at it objectively and look from the outside in and you would see what I mean. I recruit agents but I have not had to use any of those techniques to do so. : : As far as companies raiding Primerica for it's agents, don't get me wrong, I understand. That's an issue Primerica and Citigroup is going to have to deal with, and they will when it starts to effect the bottom line. I just think with the expansion of Primerica world wide it may not be too much of an issue. At least not yet. : ***How do you think Primerica is going to deal with other companies raiding them for their agents? It's not illegal to try and recruit someone away from another company, (as long as you are not violating any contract that you have signed). : : : You stated in your posting under the heading of "answer to estate question", that the area of estate planning is not Primerica's market. I couldn't agree more, but does that also mean that you admit that permanent insurance has its uses in the marketplace? : : ****Yes I admit it, but I don't speak for Primerica or it's agents. I am only speaking for myself. I just realize that i'm in business for myself. If I want to expand I have to build outlets. The more markets I want to enter, the more products I have to have at my disposal. : ***You mention entering more markets and the need to have more products at your disposal. What are you going to do if Primerica doesn't provide those needed products? Why not align yourself with a company that has all of those products and still allows you to build a team? I say this because you have beliefs that are diametrically opposed to what Primerica teaches. : : I think for the right person Primerica is a great opportunity, yet for other people someplace else may be a better fit. : : : : It seems people harp on what PFS agents earn. My question is what determines how much any agent earns, anywhere? : : : : To me to seems people are looking at the business from an emotional point of view rather than a business point of view. Citigroup knows that PFS is a distribution machine. That's probably why Sandy bought them. : : : : Citigroup has the products, and they can just plug them in as needed. The senior market is a market ready to explode, and who else is in place to hit that market running. People are changing jobs more often, and with the next influx of jobs to hit the market place people will need guidance. Primerica has the system in place and it works. As the market dictates, Citigroup and Primerica will adjust to the market and competition. : : : : Some people have a problem with recruiting, but from a business point of view it's a good concept. It's all about distribution, if you don't see it, that's great, I do. Sell and build that's the key to business. You win some and you lose some. That's business. : : : : Also for all you agents trying to raid Primerica, I understand, but I don't see how people put down recruiting yet go to Primerica to recruit their agents. You and I know the benefit of bagging a RVP, or potential RVP. This is big business.

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