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In Reply to: Re: Re: Re: Primerica: Why it's just anyother Multi-Tier Marketing Scam posted by keith johnson on February 12, 2004 at 19:29:33:
I am a client of Primerica and I was wondering if someone could clue me in as to what the heck this guy is rambling on about? No one tried to recruit me into the business and no one told me I could get paid 1500 dollars for some policy (I pay less than 50 bucks a month for my policy) so I am sure that the commission to the sales guy was less than a grand. At any rate, the funds I am in with Smith Barney average between 9 and 12 while the indexes average 8.6. Is this a legitamite site or is this guy just angry at something...feel free to e-mail me or post.
: KJ
Yes Keith,As you surmised, several individuals on the website 100 Insurers Message Board where you posted the article 2/12/04 are playing very loose with the numbers. I would recommend you check-out my posting of 6/25/04 in response to Pammy.
As elaborated to in my posting I have no ties to Primerica at this time but have in the past. You were right in your estimate of the commissions being much less then $1,000. The industry standard for commissions is in the range of 100% of first year premium, so with what you stated that office received $600 if your premium is indeed $50 per month. If your agent was the RVP he got the entire $600, from which he pays for his office expenses. If your agent was a District Manger he got $300 and the management chain received the other $300 from which the RVP again paid for the office expenses.
As to the recruitment process it is unfortunate that so many have had bad experiences and drawn to the process through inappropriate means The problem is that nobody started life wanting to be a Life Insurance Agent, it is (and rightly so) the most despised and hated so called profession there is, and a fully truthful approach is in reality the least successful. In general those with the most vile things to say about Primerica are those who have lost clients to Primericas basic common sense. One fairly obvious plant, both figuratively and intellectually, even tried to get people to believe that an active agent with PFS for two years had no (Zero) income, no-one is allowed to present or even talk at a meeting about the program until completing a few sales with their manager, they from the very first are taught to direct them to their manager.
If you are interested in helping others, as you have been helped, I would be happy to direct you to one of the companies that will take and train you properly and will always do what is right for your clients. No I wont be sending you to Primerica as it has several of their own problems, such as their image, and their association with other companies with even worse images then theirs. However I will recommend only companies that sell only Buy Term and Invest the Difference concept.