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In Reply to: Re: Re: Re: Primerica: Why it's just anyother Multi-Tier Marketing Scam posted by jbox on January 25, 2005 at 23:11:04:
First I do not know if it was my fault, a system error, or somebody playing with the system at this website but I did not write the first paragraph that opens my posting. The first paragraph, ending with Most of all, WHY DO I HAVE TO RECRUIT MY FAMILY AND FRIENDS!!!!!? is in fact that of the original posting to which I responded to.
I have the greatest respect for those who fought the early battles of ALW, and know many of them personally. I have however, commented that I have no current ties to the Primerica system, but this is not due to Primerica Lifes reputation or any other issue except that some of their administrative rules are now not viable to me. I found out that I have a knack for numbers and financial matters due to my time with ALW, in which I did quite well by the way, and that knowledge led me to obtain my degrees in accounting and finance. Now as a CPA I have the most respected certification for financial advice available however administrative policy within Primerica requires I give up my Tax and advisory business to regain my ownership contract, which I am not willing to do.
I do believe in the concept of MLM, Network Marketing, but your statement regarding its usability for anyone wholl merely follow directions holds no water. Any sales group has a 90+ percent turnover (washout) rate, actually if your statement were true Amway would be larger today then General Motors, Ford, Chrysler, Toyota, and Nissan combined, in fact probably multiplied by a factor of 10. Just as there are those who could sell Refrigerator/Freezers in Antarctica, there are those whos personality do not allow them the ability to sell them Space-Heaters or success in sales of any kind. Unfortunately most are closer in personality to the second then the first at varying degrees. The main difference is the true first, or second, personality type the product is unimportant, but for the majority that is in the middle, the product and their belief in it, real or imagined, is of utmost importance.
It sounds like youve joined the Primerica system and I wish you all the best, it till fairly recently was the only company truly selling term insurance, yes every company in the country had, and has, a product that would wipe the floor with the products most often sold through Primerica, but for some stupid reason, could it be commissions, they keep it hidden unless needed in a vain attempt to save a client for persistency. The ratio of those who have a valid use for Whole-Life insurance is less then one tenth of one percent (less then 1:1,000) for estate planning purposes, but even those are rarely configured right and then cause additional problems on the death of the insured that at that estate value are worse then not having any policy.
Again good luck and is you have any questions e-mail or call me and Id be glad to help. By the way I am, for full disclosure, working with a company that spun off Primerica and now the second largest in the term market run by Art Williams brother-in-law and which Art is indicating his interest in an active role again. I do have a strong respect for Primerica however, I firmly believe that Arts leaving has taken most of the heart and soul out of the company and I look forward to his direct input again.