What do you think about Primerica! Share your thoughts! :) E-book to help you prepare for retirement during a global crisis finance.thomascchan.com/high-inflation-retirement
It's a predatorial MLM scam. It uses manipulative tactics to leverage every relationship you ever had to try & recruit or sell. It alienates people & damages relationships, and then when the person fails, because 99% of people fail because it's an mlm scam, it is then pur back on you for not working hard enough. It's another gross mlm, and it shouldn't be legal.
Just because someone says it’s a scam doesn’t mean it’s cause they “failed” Some people have morals and values and don’t want to sell to their friends and family because, in my opinion, there should be a healthy boundary between your personal life and your business. The scripts they give you to use on your friends and family feel extremely grimy/sleazy to me. I was recruited two days ago and tbh and I felt horrible how during the orientation they asked me to call three people to schedule a Zoom call without actually telling them they would be getting sold. It was so cryptic. Just because something is legal doesn’t mean it’s ethical.
im sorry to hear that you experienced that. in reality your family and close friends should be getting on the zoom so they can know what it is you do and give refferals to help your biz(if they’d like). :( they shouldn’t be being sold on that zoom. i will say primerica is not for everyone but man i wish everyone who joined could have a great experience. i feel like throwing around the word scam is being used too loosely. it’s a lot to it and ppl take what they think they know and turn it into something it isn’t.
Hey, that sucks man. I've been with Primerica for 11 months now and I can tell you that one of the biggest issues that plagues the company is a lack of standardization and oversight. Each office is run however the RVP/SVP wants to run it, which means one recruit could get recruited into the best office, while another might be recruited into one that only sees recruits as a way to farm more clients. I landed myself in one that actually cared to develop me as a financial advisor, and I can 100% relate to what you're talking about with the ambiguity. To explain why we have to be "shady" about it is because there are other companies who do the same thing Primerica does but they don't hold the same values. NorthWestern Mutual goes to every college fair in my state and has earned themselves a reputation of just farming college kids to get their friends and families to sign up for whole life. Further than that, salesmen in general just have awful reputations, and by nature of our business we do have to be salesmen, but the issue is we actually offer good financial education & plans. I know you might not feel like we do, but as someone who has been in your shoes and played the process out - while not everyone in the business is altruistic - there is a lot of altruism in what we do. We have to be ambiguous with many people because they don't trust us and will say no on impulse. It's not lying to withhold details, and I know it might be hard to fully wrap your head around this, but we truly do set meetings with people who we don't even think we can help just so people can get trained up. There are additional goals there, as if we do a good job these people will also be word of mouth advertising for us (much like how your doctor advertises), or otherwise may point us towards others who they think we may be able to help. I completely, completely understand your point and where you're coming from. It does feel like lying. It does not feel good. But even if our products were bad, our education, financial review, and suggestions are good, and more important - they're free. I advise all my potential clients that they can just take the advice and run with it if they wanted to, but none of that matters if we can't even get in front of them because they just default to thinking we're slimy salespeople. I know you likely won't believe me, but I hope you do. Being in this business has opened my eyes into the dire state that America's middle class is in. Everyone wants to complain about how they weren't taught this stuff in middle school and high school, and it's a huge issue if we're trying to teach them this stuff now and they refuse to sit down with us because they think we're gonna try to sell them something. Additionally, you can be honest. You can tell them it's to get trained. You can tell them it's for word of mouth. You can tell them you want to show them the business to see if there's anyone they know that they think could benefit from our services. Through many of my meetings the friends and family I asked to do me this favor actually found that they themselves would benefit from our services, because we're not just selling life insurance or mutual funds, but rather a holistic financial review and a plan catered specifically to them and their preferences, designed to help them achieve their goals.
Arelis this not the forum to debate your comment. I hope you can let your ego go and just read my comment from where it comes. The fact that you are asked to contact family and friends are first contact. Is a very good thing. Just think of this if you sit with a family member and they turn you down or let’s say you don’t sit with them offer the product. Because you’re embarrassed or feel it’s slimy. What if they get in car accident 5 days after you were going to sit with them. You see the problem with most people they feel that the salesman has more to gain than the person being insured so it messes with your head. But if a tragedy happens. They remaining family will thank you for providing the insurance. See your 1000 commission is nothing compared to the beneficiary of the insurance. See if you insure someone you can not hurt them on the contrary you are providing a life line to remaining family. I hope you understand where this is coming from
I am new to Primerica and I am feeling very uncomfortable about the lack of transparency. It makes me think there is so much more I am not being told. I may follow in the foots steps of so many that have made Primerica a stepping stone.
My neighbor wanted to sell me Primerica insurance. It was going to be $113 a month for $450k coverage. He told me I could shop around and not find a better rate. After the meeting I did a little searching and found $500k coverage from Prudential for $53 a month
@@mariasierra6594 cheaper may not be the best, but the fact that every other insurance I checked out was cheaper than Primerica indicates that their prices are inflated
Its not for EVERYONE. Just got my license and currently with primerica. Doing field training now and have learned so many things and how to help families invest and have enough income for their kids and retirement. If your lazy your not going to make it with any company. Rome wasn't built in 3 days. Stop listening to other people and try things on your own and see how it goes. People will be negative towards something bc it didn't work for them
If you just got your license, you've likely only been exposed to Primerica for a month, and the fact you joined in the first place, indicates you've done minimal research and base decisions on emotions rather than facts.
just so you know, primerica's term now allows you to keep your coverage and same premium after the term is up if you do need it. You get about half the coverage if you keep the premium the same and there is also no medical check or anything of the sort involved. So you can find out at age 55 you have cancer and at age 65 your term is up, you can choose to keep it with the same premium just roughly half the coverage.
@@jermainewilliams4675 It doesn't belong to any 1 company. It's an insurance thing. Primerica is not the only company that focuses on term. I have seen a lot of reputable companies focus on term. The purpose in term and invest is to build a savings and eliminate debt. If done correctly by the end of the term policy, you should have enough money in your investment to no longer need the life insurance.
@@jermainewilliams4675Primerica term is created in-house except for in New York where it goes through national benefit life. Not sure where you're getting metlife. That's not accurate.
Thank you for such a thorough explanation. I was recruited a few weeks ago. I knew very little and I mentioned that I'm not a fan of being a "salesperson" nor pushing anything to friends or family. They promised that it wasn't anything like that. I believed them, but as the training began I observed and noticed they were not upfront honest with me. Which led to my deciding not to continue with them.
I didn't feel that way at all. Our senior VP is a family man with young kids and so down-to-earth. I hate sales but loving talking to people and am excited for the opportunity to get my securities license. My last team's structure took me over 6 months to get 1 recruit, and they're all about that cash value life insurance. It was ridiculous, and they didn't recommend getting securities licenses (which would help SO many people interested in things like Roth IRAs, mutual funds, etc.). Definitely an over-promise and under-deliver situation with the other firm. And their platform fee to join, get a background check, and training materials was $199, not including the crazy-priced E&O insurance that costs $300+ every few months. I'll take the $79 Primerica rate of joining (which is less if you're already life-licensed) and the $25/month agency fee that includes the E&O insurance. I joined this team a week ago and already have a friend interested who will be on-boarded soon. This system is just efficient, and it's so fun. I told hubby when he mentions what I do to friends to not even mention the life insurance. The company partners with so many other companies to meet clients where they're at in their financial journey, even if it's just the agent putting together a budget with the client. And I love that all the consultations with clients are free. Feel free to reach out if you want to join our family-style team. Your business will be running in no time. Just takes dedicated time. I have several kids home with me and make the time. :)
As someone with a pre existing condition. I was able to get insurance through Primerica and not have to break the bank. I believe it depends on your team as well. We weren't given a script and I was told that if you life helping people and are a good person then you will do great. My RVP still helps indiviuals and makes time for his team as well. I am having a great experience with this company. Also Primerica was 1 of 2 comapnies that actually paid families in 9/11. and they got rid of the war/terrorist clause. So you get out of it what you put into it.
I recently joined Primerica as a senior rep since I already had my license. This was the second agency I worked with and they provide the training that I desire. First agency just wanted to do cold calling to the list of prospects they provided with absolutely no training. Primerica has a very good training program. They set you up for success. No, its not for everyone, but if you truly are serious about going further in your financial career. They teach you how to promote yourself and further your career. I had my first recruit my first week because the recruit saw my excitement and joined. I am very selective in who I recruit as I believe there is a real future with this company. Thank you for your very honest review. I thought is was very fair.
@@ginagsts2350 Hey Gina, I'm unable to see the person you were speaking to - I'm not sure if they deleted their messages or account, but just wanted to ask if you ever got in contact with them? I'd be more than happy to share my experiences with you and answer any questions you might have.
Although I don’t have much knowledge about Primerica, I do not believe a business can thrive for over 40 years by scamming people. The person who’s calling it a scam is the scam. You thought you were going to get rich quick and didn’t want to follow the necessary steps. I believe it’s legit.
Thank you for your honest review Thomas! I really appreciate it. I was referred recently but I think this may not be for me. Glad I’m seeing this video before making a decision.
Hi Thila. Like I mentioned in the video, you will always learn something from there. So listen from the other side so you can weight out the pros and cons.
For example you can ask the person who wants you to join 3 questions. 1. How much is he/she making in Primerica 2. What are some of the result that he/she recruits 3. What's their plan to make you successful
I completely agree - thank you Thomas for this video - I will definitely be passing on this company. Also I must say I love your video that included a great break down in simple terms of what it’s all about and spared me much unnecessary wasted time and headaches ! Thank you!
This NY Stock exchange company is not for lazy, scamming ppl. We personally do not want that in our reputable, 40+ year old company. People are looking to make $, quick money but not easy bc you have to work for it with people on mind as if it were your friends & family. All $$ is not good money. No work, no eat. Think of others besides yourself=Primerica. Period. @@jenniferpowder8487
To answer your questions, it costs $125 to take the class, $30 to schedule the exam, but you get that money back once you're licensed, and it costs $25 a month to utalize the app. I don't see anything wrong with those things. I am a teacher, I paid to go to school and paid $130-300 for each of my exams to be licensed. Everyone has to pay for school and licensing exams in some form.
@@johnd9541 why do 87% never get the license? Is it because they chose not to or is it because they failed the exam and didn't try again because they didn't want to pay twice, because when I took my welding test. I failed the first one and had to pay $50 to take it again and than I passed and received my certification. Just curious
@@TradePovertyAway Well the fact that the 13% that pass the test join a licensed force where 45+% leave each year suggests that many of that 87% don't even bother sticking around once they figured out they joined an MLM.
Many people using the word "scam" or "pyramid scheme" and being thankful they didn't take the opportunity to join Primerica. I imagine these people are not familiar with insurance sales even slightly because if they were they'd know the insurance companies operate in exactly the same way, or have a very similar methods. Simple research would tell you that insurance selling is a highly competitive market and any company will want you to sell to whomever (warm market first is a terrible strategy but helps people practice on people they know and feel comfortable with) whenever. You have quotas, and you could lose your job. Most insurance jobs are commission only, getting a base pay when you achieve a manager promotion. Frankly the way Primerica builds you up and supports you without kicking you out is better than when a Fortune 100 company tosses you aside because you missed your mark this month. Full disclosure, I do NOT work with Primerica. This topic came up in my life this past week and I decided to do some background work. They seem like a normal functioning company when compared to others like New York Life, which have been around for 175 years and are a Fortune 100 company. Really, take a look, they recruit, and you can make money from your recruits... sound familiar? Will your job at Walmart do that?
So you're saying the bulk of New York Life clients work or worked for New York Life at some point? And that a large chunk of New York Life's net income comes from their reps paying online access fees?
screaming headlines here. When I get asked the same boring old "its a pyramid scheme" I ask the question.. So which company do you work for? Does it have a CEO at the top? Does it then have senior presidents underneath? Does it then have more VPs and EVPs underneath each of the presidents? Do the VPs each have staff? Do the staff earn the same amount as the CEO? The answer to the first questions are usually yes and the last question is no. So Mr prospect. Sounds like you are in a pyramid scheme already. If you had the chance where in the pyramid would you like to be if you joined your company today? (usually they say the top). So if I were to tell you that is exactly what I am offering you would you think you had a better deal? Every NWM individual is at the top of his or her pyramid. Its what you do with the pyramid below you that earns the money. You become irrelevant to your own income as your pyramid gets deeper and deeper. Most people in NWM companies give up selling to customers personally when the pyramid is about 8+ levels deep. All they do then is enroll, mentor and place the new distributors in their organisation under those people who want to work and can prove that they are. As your "pyramids" gets bigger you then have 6 to 8 people who are leaders and can build teams, so your work is reduced and your income increases. That releases time for you and your family to enjoy life take time out, reduce your hours, work from home etc. You only have one life. Its short. make the most of it. All the above can be achieved within 5 to 10 years with the work put in as opposed to 40 years in a regular 9-5 job and getting nothing out at the end except for a cheap long service $50 gift certificate from macys. Or am I wrong??
yes Thomas there is still a $100 entrance fee to join the company and get your relicensing qualifications before you can take the exam and become a licensed agent plus a monthly subscription of $25 for their online services that they still provide.
@user-ge6kp3rs5o well the license itself is $99 to apply then you attend a few classes before taking the exam. I'm going to be honest though, I left the company after acquiring my license due to personal reasons regarding making sales to my friends and family which they encourage you to push their insurance onto
I just joined a couple of days ago and to get a promotion they do something called 3 x 3 As of now im at a "Representative" but if i recruit 3 people and close 3 policies i get promoted to "district leader" and so on, also if u get the promotion the requirements lower to 2x2 and so on till you get to "RVP" "Regional Vice President"
Qualifications are a clean background check. We have high earners who passed state exams but were highschool dropouts. At the moment the admin registration is $38 & $25/mth. We build our own team of agents and we work together to get everyone licensed. We do not speak ill of other companies or their policy practices. We do review those policies with clients and if clients decide that our services are better they buy a policy with us. Primerica offers so much more than non-capped commissions for agents, it provides great life ins, investment, legal protection, id theft and now home lending options for our clients. No regrets here.
I came across many recruiters but I met one today at my job that got me excited about it. He kinda gave me the full spill and this video did too. I think I will give it a try this year. Actually don’t sound like a bad side hustle at all
I was interviewed yesterday, 12-11-2022. I was not informed on a monthly payment. Only a 124.0 initial payment. However, I will be passing on Primerica because he made it clear the job was not to gain as much information as possible. Also, his lures where easy to spot in his speech where he needed to get my emotional investment. He was an obvious Salesman, but not a good one.
The $124 initial payment includes a first monthly POL payment. While they'll say POL is not compulsory, they charge it by default rather than as optional.
First off thank you for this video, very informative. I recently had an interview with an advisor from Primerica and honestly there was two things i did not like. first thing was that the commission starts at 30% and that's too low in my opinion, I get 60% with another company why would i take any less, know your wroth and never settle for less. Second thing is the recruitment you do not move up unless you have a team under you. I just want to sell insurance and help inform others about the importance of having life and health insurance I am not interested in building a team. For those reasons i will be passing on Primerica.
Primerica wants you to build a team and create franchises, not just merely be a life insurance sales person that sells only to eat. They provide the skills to make you disciplined, with strong mind and with great leadership skills. Also you get to hang out with millionaire people, at the free trips you get to go and having so much fun! to I am so proud of being part of Primerica, my brokers Willy and Lorena Naranjo make 3.5 millions a year and we get to have daily training with them at the office. #Primericaproud!
To build off what Claudia said to better explain why Primerica builds recruitment into their promotion track - Primerica doesn't advertise nor do they conventionally hire salespeople. Everything is word of mouth and recruitment. If they were to remove recruiting from the promotion track that would lead to less recruiting and therefore less growth for Primerica as a business. But that's a very valid concern and I relate to that. I didn't want to recruit either, but now that I've been in the business for nearly a year, it's interesting to see that recruiting is frequently incidental. By that I mean you'll go on an appointment to spread your business or look over someone's finances and you'll discover that they're passionate about finance, or pissed about being ripped off by other companies (usually relevant when talking about whole life insurance companies, who Primerica heavily demonizes for good reason), or are just looking to make more money. I would never recommend someone do it full-time without another source of income, but the recruiting is really far less deliberate than new recruits build up in their mind.
If you want to be an employee then go ahead to another company. If you want to be a business owner, then you need a team ,which every successful business I know needs.
I have been in the Primerica business for 18 months. In 7 months I got to level 5. I believe in what we do. I’m helping family and friends who wouldn’t otherwise get the financial information that the wealthy people get. Yes there’s an upside and downside in every business. The way the system is structured EVERYONE can win if they follow the system. You must be committed, credible and attend all meetings to understand how it all works. It is not a SCAM. If it doesn’t work out for you it’s because you didn’t follow the system. Although, it’s not for everyone but the company has something to offer everyone. I’m glad that I joined and it’s working for me!
@@Pete-xu5yx No, I feel sorry for you for thinking it’s a pyramid. Your job is a pyramid. Primerica is state and federal regulated. It cannot be a pyramid scheme. It has changed my life forever. If this business doesn’t work it’s because you didn’t work it properly. I’m good over here.
@@1Detra The FTC allows the MLM industry to self-regulate, so mere existence is no alibi against pyramiding. Advocare was in business for 29 years before being declared a pyramid scheme (after a rare formal investigation).
Thank you for sharing your experience. I just recently joined. When I was approached by my recruiter, I had already purchased a home study for life insurance, which was slow going. The opportunity to get into a class at minimal cost was great. I had chosen to get my license so that I could get an education on all the products and be able to help others understand their choices. The team I work with is great, but the bias throws me sometimes. I had already researched infinite banking concepts that use whole life, but the point blank you're getting scammed attitude is a lot. When I tried to have a discussion about it, I kept getting the same line and closed ears. I feel it's a great stepping stone for someone who wants to be involved in the financial service industry and be able to help people get the services they need.
I'm currently working there. It depends which area you are in there are some good places and some where it's just mostly about the recruiters and that's just because of their personality. Primerica offers more then what you think. Its worth it to be there
@@jonahmcclaine1635primerica is an extremely highly rated insurance. Can you provide and example to why their coverage is bad? And what other companies offer a better plan? I’m genuinely curious to know because I’m currently considering working for them.
@jonahmcclaine1635 I saw a case where a man paid 500 somewhere else for life insurance. Now they pay 77$ and invest the difference on their retirement. Sooo how is this a bad thing? And how much does it really matter if there are cheaper products outside primerica. What matters is what they had and what they get now to better their situation.
Great video. Love your illustrations excellent job. I definitely think you should look at Primerica again there has been a lot of changes to meet the current industry standards in my opinion. Again it’s like everything else we all went to the same school in the same class, but only a few of us pass.
I joined last week and I've known about this company for 12 years. I first joined at 19 and i couldn't get with recruiting ppl and selling a product i didn't understand so i quit. 15 years later i was reintroduced and things have changed, considering everything is from home now. I believe they changed many things but I'm still learning. I promise in 2 weeks i will come back talk about what I've learned and how far i am in the company.
started with them too... was offered 26% entry level commission.. when someone came to me and offered me 100% commission at entry level I was curious and got interested. 1st I was interested only with the lucrative commission, but further down the road I learned that the products they offer makes more sense to offer to help people design their better financial destiny. Started part time and 3 years ago went full time in this MGA and and I lived happily ever after.. :)
@@angiebangie4386 all insurance is pay as you go. Even though I don't recommend you to cancel the insurance in any circumstances. You are the owner who has 100% control
PRIMERICA is a good place to start,but ill tell you,i ran into plenty of older women that had primerica term and now they pissed, they outlived the coverage now they cant afford it,too high.Of course primerica tell you to invest the difference but you know they dont,so i cant do my people like that,im leaving for better options for the people that live long .Make sure you tell your clients that 3 times before they get a primerica policy.
Primerica was voted #1 most trusted life insurance company and voted #3 most trusted for investments in America in 2022!! I love this company. If you work the business like a business, you'll get paid like one.
First, to use the advertising tool of RUclips to make money by speaking bad things about a company tells a lot about you. The company has changed a lot in the last 10 year and now the Term product is Much competitive. Read a book What’s wrong with your life insurance from Norman F Dacey, with prologue done by a Chairman of the Federal Trade Commission. I am sorry that you cross to the dark side and now are selling Whole Life, Universal and all those derivatives which you can accomplish by “Buy term and invest the difference” and most cheaper to the client with all those fees that Agents don’t tell to his or her clients. I am sorry the you didn’t advance from the first level in one year, that’s tell also a lot about yourself and about your coach at that time. I am really impressed again the you are using the advertising tool 🤦🏻♂️
Amazing content, well laid out video and explanations. I learned a ton about their company and life insurance in general. I had to subscribe to your channel because I live your RUclips video style. Aprreciate your honesty and your respectfulness towards your experience.
I worked for Primerica from 2004 to 2005, and I never made any money. Let me also mention that I went on to do other things and have since made millions of dollars, and I hustled and still hustle VERY hard in my current business and partnerships. But when I joined Primerica I was working in social services and was not happy with it. I got a cold call from a Primerica member and decided to check out their presentation. After seeing it, I paid and joined. Keep in mind I had been to other presentations to join door to door sales or MLM companies, but I was genuinely impressed by how professional the people were and they were very motivating in their approach. But I was new to the area I was living in and only knew people from work who didn’t know me well enough to make this a good opportunity, so I kept trying to find people to agree to a presentation but ultimately nothing worked out. But I still kept going to the meetings because they were very inspiring. After I finally (and formally) resigned, they wished me well and I promised I’d look into it again if the circumstances were better, but I ultimately took a different direction in my life and never looked back. If you’re new at Primerica, I need to warn you that you are the product of you local leaders. If they are good like mine were, it can lead you to do well either with them or somewhere else. Just understand that their job is to motivate you not to leave, and often that can mean getting you to ignore other opportunities. DON’T let that happen to you!!! Always keep your eyes open for better opportunities. Don’t ever believe that their company has all of the answers, but they can offer something that’s good for certain people but never for everyone. Before you commit yourself to Primerica, ask yourself if you are willing to grind it out indefinitely to build your network of subordinates and to keep motivating and recruiting more people. Ask yourself if you are willing to accept that you must market to you friends and family in order to get things off the ground but you can’t stop recruiting if you want to make money. Also consider the current job market and ask yourself if you’re willing to do whatever it takes to get people to work a job with no salary or benefits that only promises the potential of earning serious money. If you think that you can do it, then also remember that means you can do it for another company too so just make sure to do your research to determine if Primerica is a good fit for you, and don’t deny that it IS a MLM/Pyramid scheme since the primary buyers of their services are people recruited into the company.
What company’s did you all go to? I’m currently with primerica because they’re getting me a discount on my CEs and I want to transition into a job with a base pay in addition to commission…
Yes, they still make you pay a tech fee. I just got a sales pitch to join the team from a guy my wife knows and I felt like there was something off, and then I found your video. Thank you for the information, I appreciate it.
The fee is for the Independent Business Application because you are a self contractor. And the website fee of only $ 28 including taxes to have access to all the tools, training required to do your business. It is the cheapest cost for running your own business. Secondly, they do pre-qualify people whom they want to join despite talking to everyone. So you can be selective but also if the person is coachable and willing to work that is the type of person who can be successful. It is hard work like any other business. You can also have ownership where you leave a legacy to your family or sell it 10x the price. Cash flow income must be $300k meaning to develop and training three agents who can successfully build their te and earn $100k each.
A technology fee of $25 a month is required. Thank you for the clarification and understanding of the process from you perspective. I have learned a lot about financial literacy and the banking industry. I will continue to be a part of Primerica for that reason. No, I have not gotten rich, but have learned a lot and I will decide which way to invest my money and how to help others with the process.
@@Pete-xu5yxmost firms have a tech fee though. I had to pay my broker a $60/month fee for technology, websites, garage, and email access when i did real estate.
I really do appreciate your video and everyone's comments! 1/14/24 - I signed up and for me it was a $49 enrollment fee and $25 monthly fee. The recruiter for me said the initial payment was for the background check, which is normal cost in Alabama, and that he is paying for my insurance license certificates. I do very well in car sales, and I see Primerica being a tool to understand other businesses, investments, and financing. I will agree with most that if you don't have a "seller's mindset" and a "go-get-em" attitude then it would be very difficult to do this full-time. That is why I am only doing this part-time so I can see how it goes because I may not be able to sell anything else besides cars and warranties ha ha. SALUD!
Well Alabama, like most States, doesn't require a background check until AFTER you pass the State test, so it would be financially imprudent to get one until you even pass, which 87% of Primericans can't even do. Secondly, you can't buy a life insurance license. You still have to pass the test (which most fail to do).
I was a former agent with Primerica, and overall it was a pretty disappointing experience. I think people jump to the conclusion that MLM=scam. To me, a scam is an illegal "fly by night" thing. Its not that. They've been in business for over 40 years, part of the BBB, a publicly traded company, billions paid out in death claims etc. I found it better to be a client of Primerica, than an agent for the most part. When doing an apples to apples comparison, I never seen their investments get out performed.
I started Primerica in April of this year to see if This would supplement my income for early retirement in 3 years at 55. I paid $99 for an application fee and $25 a month for the tech package. I have my insurance license and have started working on my securities license. I have second thoughts almost daily 3 months into this experience. No one wants anything to do with Primerica in the Midwest. I'm not receiving the same training from my field trainer as the rest of my base shop located in Hawaii. Everyone is very nice and positive. The story of Primerica pulls on your heart strings. I thought I could help people with through this company but I don't think I'll make it much longer.
I’m in the Midwest as well and I have heard that from some people but not everyone.. I stay plugged into my team they are in Arizona, so I get it and I’ve been With Primerica for almost 8 months here if you need any help just reach out
It's $99 for the application (Which is your fingerprints and background check) and $25 monthly for the online tools. If you can't afford the $125 you can do a scholarship program, where they use the money from your bonus to pay for it.
Its worth it for the licensing alone. Those that are saying its $99 for just a background check is false. It's also covering your courses to achieve a life license, as well as securities. Try acquiring these licenses as an independent and see how much it would cost going that route.
That's what I thought too. Primerica claims to cover 90% of the cost for the pre-license course (which is required in most states before taking the state exam) and another investment course (the title of which escapes me). That's why you have to pay a $100 upfront fee, plus a $25 monthly charge for the app you use to register clients and make sales
@@andr3s1976 The course, typically taught by an upline, is entry-level at best. 85+% are unable to pass the entry-level, multiple choice test even after multiple attempts, based on that training.
I'm former military who is now a financial advisor. I agree with this video. When I started, I explored multiple firms to decide which was best to start my financial services career with. I did not choose Primerica. When someone asks me advice about joining the military, I always tell them to talk to a recruiter from each of the branches; Navy, Army, Air Force, and Marines. Don't just go with the first offer. I recommend the same for this industry. For Primerica, I didn't like their narrow view of insurance and finance. I wanted to be more independent to do different things; work with business owners, do permanent insurance,...etc. However, what really turned me off was their MLM model of recruiting. It felt like AMWAY and ironically enough, they're jokingly referred to as the "AMWAY of the financial industry." However, I know some people at AMWAY and other MLM companies who love it. So, if that's you, then go for it. It just wasn't for me. However, like I said, if you're approached by Primerica or are just considering a career as a financial advisor/planner, I'd recommend talking to at least 2-3 firms before making a decision.
A Friend recruited me in March of this year I paid $128 and was required to complete 16 hours of in person training take a 50 question exam that you must score 70% or higher to pass recommend to attend online meetings up 3 times a week and $25 reoccurring monthly fee for access to the Primerica online program. I was a bit hesitant when I was pitched the program yet at the same time intrigued by the opportunity of obtaining my Insurances license, expanding my knowledge within the life insurance spectrum all while potentially helping educate others about the benefits of coverage and planning for the future with life insurance. So I decided to give it a try I did my requirements and was attending what classes I could,that my schedule would allow me I already had primary Occupation as a Supervisor for UPS at the airport which at times conflicted times the meetings were held. Still determined I tried I tried juggling both but not yet able to generate much income through my now secondary part time job I began to feel I was loosing money by paying the $25 monthly program access fee I have since not been actively participating in the program and canceled my monthly payments obtained new employment in the Oil Field and now make over 10k a month while my friend who recruited me still attempting to grow his business when I addressed my concerns to him he responded by saying it is not the money he is after instead it’s growing his business I still have hopes of getting back into the business of life insurance just maybe take a different route down the road until then I have nearly triple my income and continue to invest difference into my future for my family and I!
@@richardjohn1016depends on your team when you join. You being on a bad team will discourage you. But, my cousin is 26 years old now and been in the business for 11 months and now is consistently making $20k a month. and I been in the business for 3 months now and i just got paid 4 times in the past 7 days. I have both my licenses and it was only for $125. No school or getting into debt. So, yea it just depends on your team. Our team is being lead by a millionaire and my cousin got me in the business and I’ve watched him go from sleeping on his parents couch 11 months ago to, now making $20k a month. There’s not much else to say after seeing that personally with my own two eyes. 💯
@@WestsideMagiqksurely he didn’t start out that way. But in the oil field you can definitely get to 10k a month easily more. My friend works off shore now and he’s only been with his company for a few years already making 400+ a day
Thomas, I think your video was slightly skewed and biased. Some of the aspects that you gave as "negatives" were not negatives but opinion. Many network marketing types of distribution businesses requires an upfront cost to start your own business (like travel agencies, etsy, etc.) and recruiting is a part of all of them. As far as cost, Primerica is not going to be the cheapest. However, the cheapest is not the best. Cheap life insurance will cut value of the product and there are many tricks that insurance companies put into the term insurance plans like annual renewable rate, or clauses that allows the company not to pay out. Primerica has forever rating so that once you are a client, you do not have to show insurability just to renew the policy. Your list of features of a whole life that term doesn't cover are areas that insurance should not cover or the coverage amount of the whole life is low with a high cost. Buy term and invest the difference for most middle and low-class families is a better option. Primerica does have principles of business to do what is right for the middle-class families. Almost every financial advisor who does not sell insurance will advise most people to buy term, stay away from IUL and invest their money in the market in a good solid mutual fund will ALWAYS produce better returns than the cash savings portion of permanent insurance products.
I got recruited today as well. My recruiter is the best person I’ve met so far and I’m already getting back $50 TODAY of the money that I paid for the background
@DjStalin100 what's the difference working for a job and u have to (example) go buy nonslip shoes?.. or the job has equipment you need for it they offer it but they take the money out of ya check...no difference
So glad I didn’t pay them. Just had a zoom call meeting with a broker from primerica. Was about a 10 minute call with a few slides talking about the company and how I will make 3-5k a month part time while working from home and training to get my lisense. Then said all you got to do is pay 99$ for a background check and then pay a 25$ monthly fee for the app for training. Was really pushing me to just pay for it to get it jumpstarted after like a 10 minute zoom call it was pretty crazy. So I was like I need to check out my account and maybe move some money around first then he said no problem just give me you bank account and routing number and I will hold the charge while you figure it out. Dude was young and pretty vague about the whole thing and seemed like he fell for the same scheme and was in his recruitment stage how hard he was pushing
I'm sorry you such a bad experience. I think he may have been poorly trained agent and it showed in his approach. The person should never have been on the call alone.
independent general agencies or imo,s will "give" you 100% commission, yes, what they won't give you is the opportunity or systems to have your own shop. you will be generating overrides for a family owned business that you will never be a part of. Primerica is a publicly owned company, totally different game.
Can confirm, 99$s for entry, 25 a month for learning. I did a lot of research and peoples experiences and I may consider quitting. I have an orientation today. But highly reconsidering. What do I do?
I’m in the same boat. I had my first interview yesterday and have my second interview this afternoon. The way he was explaining it seems like you can make a lot of money with this company..
So a lot of the things I’ve noticed in this video are true depending on the context, but a lot of this, particularly the negative are not correct I’m sure things may have been different 10 years ago though
In the video, you mentioned that the company shouldn't recruit unqualified people. You also said that you were unqualified when you joined and that you couldn't get hired by other companies, so it's confusing that you would talk about that being a bad thing. You also mentioned that the permanent insurance comparisons being used to exalt the BTID philosophy were made using older policies. I would be very interested to see any comparisons you have using a newer whole life policy. Have you found an example that disproves the theory? You also mentioned the high turnover of agents - which is true. But that's true for the insurance industry as a whole, so a bit misleading to suggest that's unique to this company. Overall, even though I do disagree with several statements being made here, I appreciate the effort you put into the video.
I had a bad experience with them the guy who signed me up wasnt licened then i was transferred to someone 1 hour drive away from me and in the end i lost money i would have been better off just leaving my money in my bank and collect my 1% ...
Primerica is not a scam! It works, it takes years to build a business! And that is exactly what you have to do with Primerica. Pyramid Schemes are illegal and would not last for 40 plus years. The compensation is actually better than advertised, you get paid 3 times off of one policy. If you are really interested in building a business where you can bring ppl in under you and coach them to build a business as well you will be compensated very well! Yes it is a lot of work & networking but it allows you to start part time and build into a full time business. Of course a lot of people have had a bad experience! 95% of people don't stay consistent for longer than a week! If you are going to contract with Primerica you have to be ready to stay consistent and talk to everybody you see or KNOW! Be great people!
Thank you Thomas, I just fiished a zoom meeting with one of primerica's vice presidents it seems pretty good so far I'm willing to try it out even though they don't like to use the word "try" for me I already have a full time job but I need extra money so that's why I got referred by one of my close friends, ill update later how it wen. They are giving me 1 month to get my advisor license.
All the best to you Edith! And yes I am on the same page. That if you want something great. You cannot 'try' Do or cannot do. There is no try But yes! Please share more! Looking forward to your success!
I’m a primerica agent and I was in an office that was breathing down my neck and I didn’t feel comfortable and your right when they say “Do” not “Try” was a big no no for me BUT I did moved offices (the Best decision I made) and i did had to fight to be in the other office I had to be terminated and had to start all over again and let me tell you it was worth the wait I love the new office they understand that everyone has a life and emergencies happen family happens and we build eachother up no more breathing down my neck I feel comfortable and relaxed I did follow my up line that are now RVPs we didn’t want to be around that type of toxic environment where they lie to cheat and now we are happier than ever. The office that we are in are really honest from the start. Everything’s been really great. So if you want to do the business find a great office that will fit you an office that will understand this is an opportunity not a job they shouldn’t be telling you do it or else it’s by your terms and once you find a great environment I know you will be great!
There’s no deadline anymore. This business is built for people looking for an chance to do something different. It’s not for everyone cause most people are afraid to branch out of their comfort zone and like their 9-5 for 45 years and retire. You must have had terrible trainers if they couldn’t teach you on how term is the only answer and yes any other insurance product you have been deceived if you purchased them. Treat it like a normal 40 hour week job and in a few years it’ll set you free
Hello, I'm trying to determine if Primerica is a good fit for me. I only need to make a few hundred dollars a week but need to be able to work around school schedules. Would this be a good fit for me? I believe in the power of life insurance and investing and want to teach others how to be financially secure. I had an interview today with the regional vice president and he said I would not be required to recruit anyone and there were no sales quotas or anything like that. I just want to make a difference in people's lives by demystifying investments and insurance.
I started with primerica a couple months ago and its honesty not for everyone, But if you're willing to put in the hard work you can definitely succee! Go to a convention and you walk out with such a clear mind. Let me know if you might be interested. I can help give more information.
When you don't succeed with Primerica, you criticize! 98 billion money under management, 9 million families have already received their coaching to understand how money works! myself it was with Primerica that I really learned how money works, I learned how to manage my money for my financial freedom, stop criticizing or better keep silent, there are people who make 40 k and more by me! so
I dont think hes critizicing it. He even gave the good side. If you think about it. If I want to invest I will go to an investment advisor because they know their product very well. So as if I want insurance. Hard to deal with jack of all trades sometimes.
2 years later I would like to ask them a question, if I finish my course for the life insurance license even if I stop working with them, can I continue selling life insurance with other companies?
Now it allows to get the 70% of the policy in case of terminal and yes it’s term but with renewal with same price guarantee and until 95 years of age.. it used to be lower but now you can renew until you’re 95 yro based on what I’m learning from training
Hi Thanks for sharing! yeah.. for the terminal illness, i remember it's within 90 days or so... not a significant feature yet the price is 20% more compare to a general term insurance
I just came from an interview and started to get cold feet from hearing much of the same from other insurance companies and this video helped alot, it's weird how on the front cover a job will seem, friendly, and welcoming, and they tell you how it made their dream come true of making money, then you actaully join and it's so far gone from what was prompted that you feel stuck or just stupid for leaving a previous job
Still very up to date except a few things. No E&O requirement just the 25-125 a month depending on your rank. MF front end loads do take a lot of opportunity cost from clients that could learn to invest for themselves. There is no need for the SIE when going for the 65 btw. The 6 is a sales license. It's good they pay for it but it's not needed in real advisement if you're truly doing what's right for folks. Primerica is a great place to start but if it's the only place you ever work, you do yourself a disservice in the overall of finance. Primerica Term only dominates in regards to the fact it has no war clause. There is nothing else about the Term that's better than anywhere else and it is often more expensive. We were told by the head of compliance that our job was to sell and recruit, NOT to help clients out of terrible products, like badly written IUL. I do not agree with that on any level. Great place to start but you will never be taught what's really out in the world in finance if you stay. You'll definitely not be paid what you're worth even at RVP. The maker of this video doesn't understand how investing works against Permanent insurance BS and that's OK, but if you are with PRI, YOU better know your product knowledge so you can answer that very simple question and you will never get that level of training inside PRI. Doug Andrew did a 9 hour training with questions and comments open. PRI did a 1 hour trying to cover both IUL and WL with no questions or comments. It was a disaster and I'd love to take all the primerica Orphans that aren't being paid or trained and fix that. You are awesome people with great hearts.
I j got contacted with primerica from a close friend and his step dad and mom are vice presidents and they are basically walking us through how to become an agent once we’re 18 in a month and it seems legit and nothing seems sketchy at all. Maybe check them out some more and make another video about them now and not what it was 10 years ago?
Your friend and his parents are using you. They make money of your recruitment and sales and all your monthly fees go up the pyramid to the higher ups like the vice presidents. 90% of people in MLMs (multi level marketing) companies like Primerica loose money bc on onboarding costs, courses, monthly fees.. I hope you can make the best choice for you
I had a “friend “ who wanted to sell me on the primerica pgm but I could smell a scam/ something not right. I stayed away from it and am glad I did. Pyramid scheme business models suck imo
@@ThomasCChan I was offered both options but the company model seems not quite right and I don’t appreciate people selling products like this to friends and family as they are looking out for their best interests and not yours as they climb up the pyramid. I’ve seen enough of the pyramid business to not appreciate it and the false sense of friendship. Makes you really value an actual company who’s product sells itself by word of mouth.
@Timothy Abernathy People like to refer to MLMs as pyramid schemes to give themselves a sense of elevated status so everyone thinks they are "above" MLM when in fact they couldn't be successful at it. They then go brag about being a cashier at the local supermarket. No scam there. 8 hours in, $100 dollars in our pocket. score!
I just joined Primerica a few days ago. I paid $128 to join because I am looking for a side Hustle. I currently work in the grocery business as my main job and have been for 20 years. I was looking for a side hustle turn extra income on the side and was told by my coach who I met on Facebook that it would be a work from home type of job and it would be very easy. I attended one of their Tuesday meetings she invited me to and fell interested after hearing some of the "success stories" and signed up that night. I met with my personal coach the next day and she bombarded me with a list of all these requirements that I had to do within 30 days. She said I needed to complete 32 hours of training online and then take the quizzes and pass them and then I would receive a big booklet and have to study for the big state exam to get licensed. Then what made me uncomfortable was she asked me who were my close friends were and she not only want to sell to them but she wanted me to recruit them immediately on the spot by calling them. I did mention to her that I was really uncomfortable and doing that at the moment and she told me that I would be stuck at a level 1 entry and would not move up. Now I know if I was to talk to the few friends I had they would say its a scam and I do not want to think that myself but I'm having some red flags here. I was thinking about quitting before the 30 days and just eat my $128 but I'm afraid my coach would be disappointed and upset especially with the time she had print for me already. What should I do?
@@dugan06 You can say, Hello so after doing my research and talking to family relatives I’ve realized this is not what I am interested in doing but thank you so much for taking the time . God bless 🙏
@@yizelmora8943 I will try that. Thanks. It has been a challenging year and I had thought about picking up some extra income on the side and so I thought of giving Primerica a try. However the last few days I have just been more stressed out than I was before with just my regular job and feel overwhelmed with everything. And selling life insurance and senior products isn't something I really want to be doing. I feel like a fraud or a fake doing so. But thank you so much though and good luck to you as well. God bless you.
12:32 Dave Ramsey says that whole life and universal life insurance is bad, you should watch his videos about it! Term life insurance, and keeping your investments separate from your life insurance is the way to go
I just got an invitation to be one of them, they said no pressure on recruiting others into my team, I have two choices, one is expanding my clients and the other is recruiting, is it true? And they said the fee will deduct 39 bucks from 99 bucks for the join fee if I decide by tmr evening... I am confused
Hi Marco. For the fee I think it's branch to branch promotion. And yes it's true that you can Either keep getting client or recruitting. But the only way for you to get promoted aka bigger paid. Then you need to recruit three people minimum. So even you have 1000 clients but no recruit, you still remain at the lowest level.
@@erzojourney always! And with that being said. As I mentioned in the video. Primerica has lot of good concepts and presentation as well. So it depends who's your mentor, the branch and little bit of chance. Good luck!
I recently joined but the structure is pretty much the same, you pay the $99 to join but Primerica pays for your license which is worth about $500 dollars and since its your own business the $25 a month is to run the program. This is not the first company doing this but so far so good for me.
If you want to become successful in Primerica. The most valuable information you can get is from winners like myself. Not from someone who started lacked the coach ability & then quit because they weren’t good💯
“Just join my team and you’ll start making money (covering my losses) today! You just need a hustle and grid and you’ll make it! Just like me! A winner trolling comments of Primerica videos!”
As a 100k earner RVP with Primerica, I've been through the trenches and know first hand exactly what it takes to win in Primerica. I'm not going to say it's easy or for everyone, nor that it's perfect. For the right person such as myself, it's a life changer. I think you're a good guy, but there are definitely many inaccuracies and misstatements in this video, as well as several things stated as fact that are opinion. I'm not going to type everything out here, as nearly everything has been covered in the comments. I genuinely think you're trying to help people unlike a lot of videos that just like to be negative, but unfortunately there are going to be lots of newer people who see this video and get scared away unnecessarily from misinformation. You said it yourself that it happens, but you're contributing to that phenomenon 🤷 Would love to have a live discussion and clear some of that - people deserve it. Feel free to reach out with questions.
You cannot join Primerica if you have a felony. Primerica does background checks for everyone who submits an independent business application. . They do not accept just anyone.
I was told it was around $150 for a background check, $80ish for the certification test, and $130 per month for liability insurance. You could technically end up paying more than you make.
So what is a good alternative? I was really hoping you would offer some suggestions. I am a licensed MLO and well compensated, doing around 750-1mil in volume per month, but I do want some part time avenues and potential for passive income. I have not found many options that I am keen towards so far and have mixed feelings about Primerica. Any suggestions would be GREATLY appreciated
I just finished a zoom meeting. Prior they didnt tell me the name of the company so it seemed fishy. Didnt know anything going in but it immediately sounded like Pyramid. I told the recruiter that id think about it but im going to pass.
Hello. I can say. It's not a scam. You do learn a lot of things. And for you exchange it for a service (admin fee) and online tool However, this is your own business. Therefore you are 100% responsible for the up and down for the business. Aka are those tools your expense or helping you succeed
You can't "buy" a license. Your $74 pays for you to take the test, and not necessarily pass it. 84+% either don't pass it, or stick around long enough to fail it.
I think a good thing us that it is a job that no one can take from you. Even if your uplines don't want to work with you, it is still your business. It looks good as steady employment on your resume.
Well this information is somewhat incorrect. You didn’t mention that the savings in a whole life policy known as “cash value” gets sent back to the company after the insured dies. So the policy owner pays for both yet they only get one. You didn’t mention that. See term insurance is pure insurance there are no gimmicks. Also if they get sick or disabled Primerica offers waiver of premium & accelerated benefits which you didn’t mention either. So clearly you do not have as much knowledge as you think. Lastly yes recruiting & training is something you get paid to do💯 in many other companies they “hire” people & collect a percentage too without providing an opportunity for ownership. JS 🤷🏽♀️& no you cannot get promoted for recruiting alone. You have to help clients, you have to collect a certain amount of premium to qualify for a promotion. We get paid great from freeing people from having their cash value taken back from their current company
Hi Philippa, great to hear your input 1a. Waiver on premium and accelerated benefits applies to every insurance company, so it's not primerica only feature so I didn't think mention is needed 1b. Waiver on premium means you don't need to pay for the policy in case of disability or sickness, but at the end of the day it's not going to provide a income replacement like a disability or critical illness can do. 1c. Sure now primerica may offer critical illness insurance, but Definitely is not available when I was in 10 years ago. And I still remembered how the office is bashing ci as waste of money product which I find it a bit ironic. 2a as whole life insurance issue. They also provided both cv and death benefits now. The only get one option was long time ago 2b true term insurance is pure protection but as I mentioned in the video, primerica term product is 10-20% more compared to others. So as a client now I can get same protection but cheaper price and have a choice to covert to permanent if needed 3. And yes if you watch my video. I also agree with team building as it's a nesscary step to grow your business. But I don't like the fact they put a restriction you have to recruit before you can get a raise. I am sure the intention behind is good. However you also cannot denied the fact that alot of agent just recruit random for their own interest. All in all, there are many prospectives to one thing. And as i mentioned in the video. I never regret i join primerica because it shapes me into what I am today. 😀
In the UK pretty well all WOL insurance is cashless. It used to be that there was an underlying investment but when you strip out the charges the growth was pretty awful. Nowadays its cashless and we use it for Inheritance tax planning on a joint life second death basis which is cheap and even cheaper the earlier you put it into force.
The video says they only offer Primerica products but then mentions the other companies they partner with for other products - like 401k, mutual funds, will/end-of-life planning, etc. It's my understanding the agents are trained to offer whatever product the client needs that is in Primerica's network of partnerships. I think the E&O insurance is also included with the $25/month agency fee. I believe the current cost is under $80 to first get appointed. The passive income model is used across the insurance community. Also, this video mentions no requirements...but there are: passing the background check, passing a state licensing exam, getting fingerprinted in your state for that background check, and to do investment work, also pass tests for a securities license. If someone isn't qualified to do those things, they can't do the work. As far as agents having other jobs, I think recruiters encourage starting part-time for those who can until they earn enough income to sustain their lifestyle.
@johnd9541 The passive income is when you build a team of agents, who build a team of agents, (you becoming a broker), who build a team of agents, on and on. Then you're continuously getting overrides from the business processed. Commissions aren't just from term insurance. There are many partners Primerica connects clients to to save them money and help them invest, as many agents and the brokers are also securities licensed. The partners include companies for annuities, 401K's, IRA's, mutual funds, Rocket for refinancing or loans, on and on. If you want an Info overview, I can schedule one for you with a broker this week who knows all the ins and outs. They aren't employed by Primerica. They are 1099 independent contractors using Primerica for their appointment (a sponsor, so to speak) to be able to use their licenses.
If you want to pay your bills and your rent and need to work asap. Stay away, you will waste your time. My first meeting with them I've been asked to pay for the certificates that the will apply me for . " A comment from two business owner"
What about the fees in their mutual funds? How do they compare with other mutual funds? How do they compare with fees in the funds embedded in permanent life insurance? Also, many multi-level marketing schemes are barely indistinguishable from pyramid schemes.
@@ThomasCChan If the sell products offered by the banks, then obviously the fees are higher in order for them to also take a cut. Nobody works for free, other than their selling force.
see my comment above. Whole heartedly disagree. Sounds like you are parrotting what someone in the Bar told you about a mate you tried and failed because he only lasted a week and that the concept never worked for him.
Hi, I have an insured that died of emphysema in October of 2023 and the other beneficiary committed suicide in December of 2023. Primerica isn't paying up. How can I make them pay up? It is now April 2024
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To answer your question.. I joined 2 weeks ago in the US, $99 application fee, $25 a month to have access to their tools.
@@livinmontes167 thanks for letting me know!
I think you need to learn to speak English
just joined, but came to it with a life insurance lisence already, I did have a $25 monthly fee, but nothing more.
It's a predatorial MLM scam. It uses manipulative tactics to leverage every relationship you ever had to try & recruit or sell. It alienates people & damages relationships, and then when the person fails, because 99% of people fail because it's an mlm scam, it is then pur back on you for not working hard enough. It's another gross mlm, and it shouldn't be legal.
Just because someone says it’s a scam doesn’t mean it’s cause they “failed” Some people have morals and values and don’t want to sell to their friends and family because, in my opinion, there should be a healthy boundary between your personal life and your business. The scripts they give you to use on your friends and family feel extremely grimy/sleazy to me. I was recruited two days ago and tbh and I felt horrible how during the orientation they asked me to call three people to schedule a Zoom call without actually telling them they would be getting sold. It was so cryptic. Just because something is legal doesn’t mean it’s ethical.
im sorry to hear that you experienced that. in reality your family and close friends should be getting on the zoom so they can know what it is you do and give refferals to help your biz(if they’d like). :( they shouldn’t be being sold on that zoom. i will say primerica is not for everyone but man i wish everyone who joined could have a great experience. i feel like throwing around the word scam is being used too loosely. it’s a lot to it and ppl take what they think they know and turn it into something it isn’t.
Hey, that sucks man. I've been with Primerica for 11 months now and I can tell you that one of the biggest issues that plagues the company is a lack of standardization and oversight. Each office is run however the RVP/SVP wants to run it, which means one recruit could get recruited into the best office, while another might be recruited into one that only sees recruits as a way to farm more clients.
I landed myself in one that actually cared to develop me as a financial advisor, and I can 100% relate to what you're talking about with the ambiguity. To explain why we have to be "shady" about it is because there are other companies who do the same thing Primerica does but they don't hold the same values. NorthWestern Mutual goes to every college fair in my state and has earned themselves a reputation of just farming college kids to get their friends and families to sign up for whole life. Further than that, salesmen in general just have awful reputations, and by nature of our business we do have to be salesmen, but the issue is we actually offer good financial education & plans. I know you might not feel like we do, but as someone who has been in your shoes and played the process out - while not everyone in the business is altruistic - there is a lot of altruism in what we do.
We have to be ambiguous with many people because they don't trust us and will say no on impulse. It's not lying to withhold details, and I know it might be hard to fully wrap your head around this, but we truly do set meetings with people who we don't even think we can help just so people can get trained up. There are additional goals there, as if we do a good job these people will also be word of mouth advertising for us (much like how your doctor advertises), or otherwise may point us towards others who they think we may be able to help.
I completely, completely understand your point and where you're coming from. It does feel like lying. It does not feel good. But even if our products were bad, our education, financial review, and suggestions are good, and more important - they're free. I advise all my potential clients that they can just take the advice and run with it if they wanted to, but none of that matters if we can't even get in front of them because they just default to thinking we're slimy salespeople.
I know you likely won't believe me, but I hope you do. Being in this business has opened my eyes into the dire state that America's middle class is in. Everyone wants to complain about how they weren't taught this stuff in middle school and high school, and it's a huge issue if we're trying to teach them this stuff now and they refuse to sit down with us because they think we're gonna try to sell them something. Additionally, you can be honest. You can tell them it's to get trained. You can tell them it's for word of mouth. You can tell them you want to show them the business to see if there's anyone they know that they think could benefit from our services. Through many of my meetings the friends and family I asked to do me this favor actually found that they themselves would benefit from our services, because we're not just selling life insurance or mutual funds, but rather a holistic financial review and a plan catered specifically to them and their preferences, designed to help them achieve their goals.
Arelis this not the forum to debate your comment. I hope you can let your ego go and just read my comment from where it comes. The fact that you are asked to contact family and friends are first contact. Is a very good thing. Just think of this if you sit with a family member and they turn you down or let’s say you don’t sit with them offer the product. Because you’re embarrassed or feel it’s slimy. What if they get in car accident 5 days after you were going to sit with them. You see the problem with most people they feel that the salesman has more to gain than the person being insured so it messes with your head. But if a tragedy happens. They remaining family will thank you for providing the insurance. See your 1000 commission is nothing compared to the beneficiary of the insurance. See if you insure someone you can not hurt them on the contrary you are providing a life line to remaining family. I hope you understand where this is coming from
I am new to Primerica and I am feeling very uncomfortable about the lack of transparency. It makes me think there is so much more I am not being told. I may follow in the foots steps of so many that have made Primerica a stepping stone.
@@livinmontes167 What lack of transparency are you coming across? These things differ from office to office.
My neighbor wanted to sell me Primerica insurance. It was going to be $113 a month for $450k coverage. He told me I could shop around and not find a better rate. After the meeting I did a little searching and found $500k coverage from Prudential for $53 a month
Sometime cheaper is not the best! Did you check if theirs exclusions or what type of insurance you got?
@@mariasierra6594 cheaper may not be the best, but the fact that every other insurance I checked out was cheaper than Primerica indicates that their prices are inflated
im just curious no judgement. is it whole life or term life?
$53 a month for half mil? That ain’t right, look at that again.
@@pandapocalypses2773 term
Its not for EVERYONE. Just got my license and currently with primerica. Doing field training now and have learned so many things and how to help families invest and have enough income for their kids and retirement. If your lazy your not going to make it with any company. Rome wasn't built in 3 days. Stop listening to other people and try things on your own and see how it goes. People will be negative towards something bc it didn't work for them
Great input!
If you just got your license, you've likely only been exposed to Primerica for a month, and the fact you joined in the first place, indicates you've done minimal research and base decisions on emotions rather than facts.
Yeah, you're right.... PYRAMID SCHEMES "aren't for everyone".... Primerica, just like ALL MLM is a SCAM....
@@johnd9541 why wouldn’t you join? Just been invited and am looking at both cons and pros so your feedback would be appreciated
@@juliangarcia1088 I tend to shy away from opportunities that have burned through 1.6M over just the last 5 years alone, most of whom lost money.
just so you know, primerica's term now allows you to keep your coverage and same premium after the term is up if you do need it. You get about half the coverage if you keep the premium the same and there is also no medical check or anything of the sort involved. So you can find out at age 55 you have cancer and at age 65 your term is up, you can choose to keep it with the same premium just roughly half the coverage.
Hi Christian! That's great!! Thanks for sharing!
Just to let you know. It’s not primerica term. It’s MetLife’s…
thanks
@@jermainewilliams4675 It doesn't belong to any 1 company. It's an insurance thing. Primerica is not the only company that focuses on term. I have seen a lot of reputable companies focus on term. The purpose in term and invest is to build a savings and eliminate debt. If done correctly by the end of the term policy, you should have enough money in your investment to no longer need the life insurance.
@@jermainewilliams4675Primerica term is created in-house except for in New York where it goes through national benefit life. Not sure where you're getting metlife. That's not accurate.
Thank you for such a thorough explanation. I was recruited a few weeks ago. I knew very little and I mentioned that I'm not a fan of being a "salesperson" nor pushing anything to friends or family. They promised that it wasn't anything like that. I believed them, but as the training began I observed and noticed they were not upfront honest with me. Which led to my deciding not to continue with them.
Hey, i am going through the similar feeling, was leaving the company hard?
I gad an interview with them today and something was telling me not good. What would you say
Does Primerica offer medical dental vision healthcare vacation or sick pay?
I didn't feel that way at all. Our senior VP is a family man with young kids and so down-to-earth. I hate sales but loving talking to people and am excited for the opportunity to get my securities license. My last team's structure took me over 6 months to get 1 recruit, and they're all about that cash value life insurance. It was ridiculous, and they didn't recommend getting securities licenses (which would help SO many people interested in things like Roth IRAs, mutual funds, etc.). Definitely an over-promise and under-deliver situation with the other firm. And their platform fee to join, get a background check, and training materials was $199, not including the crazy-priced E&O insurance that costs $300+ every few months. I'll take the $79 Primerica rate of joining (which is less if you're already life-licensed) and the $25/month agency fee that includes the E&O insurance. I joined this team a week ago and already have a friend interested who will be on-boarded soon. This system is just efficient, and it's so fun. I told hubby when he mentions what I do to friends to not even mention the life insurance. The company partners with so many other companies to meet clients where they're at in their financial journey, even if it's just the agent putting together a budget with the client. And I love that all the consultations with clients are free. Feel free to reach out if you want to join our family-style team. Your business will be running in no time. Just takes dedicated time. I have several kids home with me and make the time. :)
@@cbacon7813 WOW you're a Primerica simp
As someone with a pre existing condition. I was able to get insurance through Primerica and not have to break the bank. I believe it depends on your team as well. We weren't given a script and I was told that if you life helping people and are a good person then you will do great. My RVP still helps indiviuals and makes time for his team as well. I am having a great experience with this company. Also Primerica was 1 of 2 comapnies that actually paid families in 9/11. and they got rid of the war/terrorist clause. So you get out of it what you put into it.
Sounds great! Thanks for your input!
I recently joined Primerica as a senior rep since I already had my license. This was the second agency I worked with and they provide the training that I desire. First agency just wanted to do cold calling to the list of prospects they provided with absolutely no training. Primerica has a very good training program. They set you up for success. No, its not for everyone, but if you truly are serious about going further in your financial career. They teach you how to promote yourself and further your career. I had my first recruit my first week because the recruit saw my excitement and joined. I am very selective in who I recruit as I believe there is a real future with this company. Thank you for your very honest review. I thought is was very fair.
Thank you for sharing! Wish you a great success!
I just joined
Hi
I would like to hear more about your experience. Thinking about joining. I too already have my license-Gina
Thank you
@@ginagsts2350 Hey Gina,
I'm unable to see the person you were speaking to - I'm not sure if they deleted their messages or account, but just wanted to ask if you ever got in contact with them? I'd be more than happy to share my experiences with you and answer any questions you might have.
Although I don’t have much knowledge about Primerica, I do not believe a business can thrive for over 40 years by scamming people. The person who’s calling it a scam is the scam. You thought you were going to get rich quick and didn’t want to follow the necessary steps. I believe it’s legit.
Herbalife......Advocare......
Thank you for your honest review Thomas! I really appreciate it. I was referred recently but I think this may not be for me. Glad I’m seeing this video before making a decision.
Hi Thila.
Like I mentioned in the video, you will always learn something from there.
So listen from the other side so you can weight out the pros and cons.
For example you can ask the person who wants you to join 3 questions.
1. How much is he/she making in Primerica
2. What are some of the result that he/she recruits
3. What's their plan to make you successful
I completely agree - thank you Thomas for this video - I will definitely be passing on this company. Also I must say I love your video that included a great break down in simple terms of what it’s all about and spared me much unnecessary wasted time and headaches ! Thank you!
This NY Stock exchange company is not for lazy, scamming ppl. We personally do not want that in our reputable, 40+ year old company. People are looking to make $, quick money but not easy bc you have to work for it with people on mind as if it were your friends & family. All $$ is not good money. No work, no eat. Think of others besides yourself=Primerica. Period. @@jenniferpowder8487
@ThomasCChan those are great questions!
To answer your questions, it costs $125 to take the class, $30 to schedule the exam, but you get that money back once you're licensed, and it costs $25 a month to utalize the app. I don't see anything wrong with those things. I am a teacher, I paid to go to school and paid $130-300 for each of my exams to be licensed. Everyone has to pay for school and licensing exams in some form.
you get that money back once you're licensed, but 87+% never get the license.
@@johnd9541 You don't get the $25 a month back. You get back the cost of the exam.
@@crisssyyy_ If you write the exam and fail, you still pay for the exam.
@@johnd9541 why do 87% never get the license? Is it because they chose not to or is it because they failed the exam and didn't try again because they didn't want to pay twice, because when I took my welding test. I failed the first one and had to pay $50 to take it again and than I passed and received my certification. Just curious
@@TradePovertyAway Well the fact that the 13% that pass the test join a licensed force where 45+% leave each year suggests that many of that 87% don't even bother sticking around once they figured out they joined an MLM.
Thank you for sharing. I found your overview to be very thorough, and I appreciate that you covered both sides. Thank you.
Many people using the word "scam" or "pyramid scheme" and being thankful they didn't take the opportunity to join Primerica. I imagine these people are not familiar with insurance sales even slightly because if they were they'd know the insurance companies operate in exactly the same way, or have a very similar methods. Simple research would tell you that insurance selling is a highly competitive market and any company will want you to sell to whomever (warm market first is a terrible strategy but helps people practice on people they know and feel comfortable with) whenever. You have quotas, and you could lose your job. Most insurance jobs are commission only, getting a base pay when you achieve a manager promotion. Frankly the way Primerica builds you up and supports you without kicking you out is better than when a Fortune 100 company tosses you aside because you missed your mark this month. Full disclosure, I do NOT work with Primerica. This topic came up in my life this past week and I decided to do some background work. They seem like a normal functioning company when compared to others like New York Life, which have been around for 175 years and are a Fortune 100 company. Really, take a look, they recruit, and you can make money from your recruits... sound familiar? Will your job at Walmart do that?
Thanks for sharing! 😀
So you're saying the bulk of New York Life clients work or worked for New York Life at some point? And that a large chunk of New York Life's net income comes from their reps paying online access fees?
Thank you for your insight appreciate this
screaming headlines here. When I get asked the same boring old "its a pyramid scheme" I ask the question.. So which company do you work for? Does it have a CEO at the top? Does it then have senior presidents underneath? Does it then have more VPs and EVPs underneath each of the presidents? Do the VPs each have staff? Do the staff earn the same amount as the CEO? The answer to the first questions are usually yes and the last question is no. So Mr prospect. Sounds like you are in a pyramid scheme already. If you had the chance where in the pyramid would you like to be if you joined your company today? (usually they say the top). So if I were to tell you that is exactly what I am offering you would you think you had a better deal? Every NWM individual is at the top of his or her pyramid. Its what you do with the pyramid below you that earns the money. You become irrelevant to your own income as your pyramid gets deeper and deeper. Most people in NWM companies give up selling to customers personally when the pyramid is about 8+ levels deep. All they do then is enroll, mentor and place the new distributors in their organisation under those people who want to work and can prove that they are. As your "pyramids" gets bigger you then have 6 to 8 people who are leaders and can build teams, so your work is reduced and your income increases. That releases time for you and your family to enjoy life take time out, reduce your hours, work from home etc. You only have one life. Its short. make the most of it. All the above can be achieved within 5 to 10 years with the work put in as opposed to 40 years in a regular 9-5 job and getting nothing out at the end except for a cheap long service $50 gift certificate from macys. Or am I wrong??
@@petercallomon9681that’s not what a pyramid scheme is, maybe you should google the definition before you make a fool of yourself
yes Thomas there is still a $100 entrance fee to join the company and get your relicensing qualifications before you can take the exam and become a licensed agent plus a monthly subscription of $25 for their online services that they still provide.
Thanks for updating!
Is there a refund?
So, for $125 you get to join the company and take the class? How much is the license?
@user-ge6kp3rs5o well the license itself is $99 to apply then you attend a few classes before taking the exam. I'm going to be honest though, I left the company after acquiring my license due to personal reasons regarding making sales to my friends and family which they encourage you to push their insurance onto
@@babamp4was the license good only for your state?
I just joined a couple of days ago and to get a promotion they do something called 3 x 3
As of now im at a "Representative" but if i recruit 3 people and close 3 policies i get promoted to "district leader" and so on, also if u get the promotion the requirements lower to 2x2 and so on till you get to "RVP" "Regional Vice President"
At RVP, you're required to cover all costs of a storefront office.
Qualifications are a clean background check. We have high earners who passed state exams but were highschool dropouts. At the moment the admin registration is $38 & $25/mth. We build our own team of agents and we work together to get everyone licensed. We do not speak ill of other companies or their policy practices. We do review those policies with clients and if clients decide that our services are better they buy a policy with us. Primerica offers so much more than non-capped commissions for agents, it provides great life ins, investment, legal protection, id theft and now home lending options for our clients. No regrets here.
I came across many recruiters but I met one today at my job that got me excited about it. He kinda gave me the full spill and this video did too. I think I will give it a try this year. Actually don’t sound like a bad side hustle at all
Tell us how you did after!
Be careful tho I heard lots about it being a pyramid scheme I even had a interview which kinda made it obvious tbh I would say be careful
How did you do?
It’s a pyramid scheme!
How did you do??
I was interviewed yesterday, 12-11-2022. I was not informed on a monthly payment. Only a 124.0 initial payment. However, I will be passing on Primerica because he made it clear the job was not to gain as much information as possible. Also, his lures where easy to spot in his speech where he needed to get my emotional investment. He was an obvious Salesman, but not a good one.
The $124 initial payment includes a first monthly POL payment. While they'll say POL is not compulsory, they charge it by default rather than as optional.
my girl is being interviewed by them rn, are u serious about this uninformed monthly payment ??
@@HasbiksRightHand Its charged by default, which means you must actively cancel it.
@@johnd9541 silliest shit
@@johnd9541 I don’t think that’s true!
First off thank you for this video, very informative. I recently had an interview with an advisor from Primerica and honestly there was two things i did not like. first thing was that the commission starts at 30% and that's too low in my opinion, I get 60% with another company why would i take any less, know your wroth and never settle for less. Second thing is the recruitment you do not move up unless you have a team under you. I just want to sell insurance and help inform others about the importance of having life and health insurance I am not interested in building a team. For those reasons i will be passing on Primerica.
Primerica wants you to build a team and create franchises, not just merely be a life insurance sales person that sells only to eat. They provide the skills to make you disciplined, with strong mind and with great leadership skills. Also you get to hang out with millionaire people, at the free trips you get to go and having so much fun! to I am so proud of being part of Primerica, my brokers Willy and Lorena Naranjo make 3.5 millions a year and we get to have daily training with them at the office. #Primericaproud!
To build off what Claudia said to better explain why Primerica builds recruitment into their promotion track - Primerica doesn't advertise nor do they conventionally hire salespeople. Everything is word of mouth and recruitment. If they were to remove recruiting from the promotion track that would lead to less recruiting and therefore less growth for Primerica as a business.
But that's a very valid concern and I relate to that. I didn't want to recruit either, but now that I've been in the business for nearly a year, it's interesting to see that recruiting is frequently incidental. By that I mean you'll go on an appointment to spread your business or look over someone's finances and you'll discover that they're passionate about finance, or pissed about being ripped off by other companies (usually relevant when talking about whole life insurance companies, who Primerica heavily demonizes for good reason), or are just looking to make more money. I would never recommend someone do it full-time without another source of income, but the recruiting is really far less deliberate than new recruits build up in their mind.
Hi there, I worked for WFG. Can you please tell me which company pay 60 %, I like to check it out. Thanks
If you want to be an employee then go ahead to another company. If you want to be a business owner, then you need a team ,which every successful business I know needs.
Lmao I can’t tell if you guys are trolls, bots, or really this brainwashed
So much has changed with Primerica over the years and they have expanded so much. I definitely think you should take another look.
What's change chantilly?
@@TryMyChow do what? 🤔
For sure! Thanks for sharing!
Expanded?? Their force is currently about 1/2 the size it was in 1988. Who are you kidding?
@@johnd9541 No definitely not half the size. 😅keep lying to yourself though.
I have been in the Primerica business for 18 months. In 7 months I got to level 5. I believe in what we do. I’m helping family and friends who wouldn’t otherwise get the financial information that the wealthy people get. Yes there’s an upside and downside in every business. The way the system is structured EVERYONE can win if they follow the system. You must be committed, credible and attend all meetings to understand how it all works. It is not a SCAM. If it doesn’t work out for you it’s because you didn’t follow the system. Although, it’s not for everyone but the company has something to offer everyone. I’m glad that I joined and it’s working for me!
For sure! Glad you are finding success!
I feel sorry for you being caught on a pyramid scheme
@@Pete-xu5yx No, I feel sorry for you for thinking it’s a pyramid. Your job is a pyramid. Primerica is state and federal regulated. It cannot be a pyramid scheme. It has changed my life forever. If this business doesn’t work it’s because you didn’t work it properly. I’m good over here.
@@1Detra The FTC allows the MLM industry to self-regulate, so mere existence is no alibi against pyramiding. Advocare was in business for 29 years before being declared a pyramid scheme (after a rare formal investigation).
Level 5 what does that mean? The percentage you get per policy? How much you start at
Thank you for sharing your experience. I just recently joined. When I was approached by my recruiter, I had already purchased a home study for life insurance, which was slow going. The opportunity to get into a class at minimal cost was great. I had chosen to get my license so that I could get an education on all the products and be able to help others understand their choices. The team I work with is great, but the bias throws me sometimes. I had already researched infinite banking concepts that use whole life, but the point blank you're getting scammed attitude is a lot. When I tried to have a discussion about it, I kept getting the same line and closed ears. I feel it's a great stepping stone for someone who wants to be involved in the financial service industry and be able to help people get the services they need.
I'm currently working there. It depends which area you are in there are some good places and some where it's just mostly about the recruiters and that's just because of their personality. Primerica offers more then what you think. Its worth it to be there
Thanks Chris! For sure!
I don’t believe it is right to sell relatively bad insurance to people who don’t understand finances
@@jonahmcclaine1635primerica is an extremely highly rated insurance. Can you provide and example to why their coverage is bad? And what other companies offer a better plan? I’m genuinely curious to know because I’m currently considering working for them.
@jonahmcclaine1635
I saw a case where a man paid 500 somewhere else for life insurance. Now they pay 77$ and invest the difference on their retirement. Sooo how is this a bad thing? And how much does it really matter if there are cheaper products outside primerica. What matters is what they had and what they get now to better their situation.
Great video. Love your illustrations excellent job. I definitely think you should look at Primerica again there has been a lot of changes to meet the current industry standards in my opinion. Again it’s like everything else we all went to the same school in the same class, but only a few of us pass.
Hi Cynthia! For sure! I am sure lots of things has improved! Thanks for sharing!!
Not on the insurance side.
It’s a scam
I joined last week and I've known about this company for 12 years. I first joined at 19 and i couldn't get with recruiting ppl and selling a product i didn't understand so i quit. 15 years later i was reintroduced and things have changed, considering everything is from home now. I believe they changed many things but I'm still learning. I promise in 2 weeks i will come back talk about what I've learned and how far i am in the company.
15 years ago, the internet wasn't fully developed and MLM horror stories couldn't be shared. Now, everybody knows about the evils of MLM.
!?
Update please
Update ? It’s been 3
Months
If is not updated I'm guessing you quit again lol
started with them too... was offered 26% entry level commission.. when someone came to me and offered me 100% commission at entry level I was curious and got interested. 1st I was interested only with the lucrative commission, but further down the road I learned that the products they offer makes more sense to offer to help people design their better financial destiny. Started part time and 3 years ago went full time in this MGA and and I lived happily ever after.. :)
Thanks for sharing Felix!
Happy to hear you able to help more people and able to help yourself
If I purchase primemerica insurance can I get out at anytime just incase I loose my job? Is it a contract?
@@angiebangie4386 all insurance is pay as you go.
Even though I don't recommend you to cancel the insurance in any circumstances.
You are the owner who has 100% control
I’m thinking of recruiting it’s just one of the questions I had a concern with you got so lucky they offered you 100 percent commission 💕nice👌
PRIMERICA is a good place to start,but ill tell you,i ran into plenty of older women that had primerica term and now they pissed, they outlived the coverage now they cant afford it,too high.Of course primerica tell you to invest the difference but you know they dont,so i cant do my people like that,im leaving for better options for the people that live long .Make sure you tell your clients that 3 times before they get a primerica policy.
Primerica was voted #1 most trusted life insurance company and voted #3 most trusted for investments in America in 2022!! I love this company. If you work the business like a business, you'll get paid like one.
Ain’t It a pyramid scheme
The vote was based solely on corporate's financial strength, not on the value of their MLM opportunity. lol
@@ObmanaCare is it??
@@jv4xn yes. Everything’s points at pyramid scheme. Plus most people don’t make money and instead lose miney
First, to use the advertising tool of RUclips to make money by speaking bad things about a company tells a lot about you. The company has changed a lot in the last 10 year and now the Term product is Much competitive. Read a book What’s wrong with your life insurance from Norman F Dacey, with prologue done by a Chairman of the Federal Trade Commission. I am sorry that you cross to the dark side and now are selling Whole Life, Universal and all those derivatives which you can accomplish by “Buy term and invest the difference” and most cheaper to the client with all those fees that Agents don’t tell to his or her clients. I am sorry the you didn’t advance from the first level in one year, that’s tell also a lot about yourself and about your coach at that time. I am really impressed again the you are using the advertising tool 🤦🏻♂️
Amazing content, well laid out video and explanations. I learned a ton about their company and life insurance in general. I had to subscribe to your channel because I live your RUclips video style. Aprreciate your honesty and your respectfulness towards your experience.
I worked for Primerica from 2004 to 2005, and I never made any money. Let me also mention that I went on to do other things and have since made millions of dollars, and I hustled and still hustle VERY hard in my current business and partnerships. But when I joined Primerica I was working in social services and was not happy with it. I got a cold call from a Primerica member and decided to check out their presentation.
After seeing it, I paid and joined. Keep in mind I had been to other presentations to join door to door sales or MLM companies, but I was genuinely impressed by how professional the people were and they were very motivating in their approach. But I was new to the area I was living in and only knew people from work who didn’t know me well enough to make this a good opportunity, so I kept trying to find people to agree to a presentation but ultimately nothing worked out. But I still kept going to the meetings because they were very inspiring.
After I finally (and formally) resigned, they wished me well and I promised I’d look into it again if the circumstances were better, but I ultimately took a different direction in my life and never looked back.
If you’re new at Primerica, I need to warn you that you are the product of you local leaders. If they are good like mine were, it can lead you to do well either with them or somewhere else.
Just understand that their job is to motivate you not to leave, and often that can mean getting you to ignore other opportunities. DON’T let that happen to you!!! Always keep your eyes open for better opportunities. Don’t ever believe that their company has all of the answers, but they can offer something that’s good for certain people but never for everyone.
Before you commit yourself to Primerica, ask yourself if you are willing to grind it out indefinitely to build your network of subordinates and to keep motivating and recruiting more people. Ask yourself if you are willing to accept that you must market to you friends and family in order to get things off the ground but you can’t stop recruiting if you want to make money. Also consider the current job market and ask yourself if you’re willing to do whatever it takes to get people to work a job with no salary or benefits that only promises the potential of earning serious money. If you think that you can do it, then also remember that means you can do it for another company too so just make sure to do your research to determine if Primerica is a good fit for you, and don’t deny that it IS a MLM/Pyramid scheme since the primary buyers of their services are people recruited into the company.
I left Primerica and made millions as well
I also left primerica and made millions. Totally real
What company’s did you all go to? I’m currently with primerica because they’re getting me a discount on my CEs and I want to transition into a job with a base pay in addition to commission…
I'm trying to figure out if I should work there or work at a warehouse
What’s the best company in your opinion then? What company did you make 6 figures at?
Yes, they still make you pay a tech fee. I just got a sales pitch to join the team from a guy my wife knows and I felt like there was something off, and then I found your video. Thank you for the information, I appreciate it.
You pay a fee towards your license, and then you pay a monthly encrypted website fee to do business on.
The fee is for the Independent Business Application because you are a self contractor. And the website fee of only $ 28 including taxes to have access to all the tools, training required to do your business. It is the cheapest cost for running your own business. Secondly, they do pre-qualify people whom they want to join despite talking to everyone. So you can be selective but also if the person is coachable and willing to work that is the type of person who can be successful. It is hard work like any other business. You can also have ownership where you leave a legacy to your family or sell it 10x the price. Cash flow income must be $300k meaning to develop and training three agents who can successfully build their te and earn $100k each.
@@assefashyirgaw1328 My thing is…am I gonna get my insurance license though🤷🏿♀️ cuz I feel like they are scamming me…
@@Zeebo216 yes. You just need to ask to start the pre licensing class, I currently have 3 licensed people under me.
@@christianbrad-lee8074 They we're really hesitant...they didn't wanna let me...They full of nonsense... I'm looking for a different company now...
A technology fee of $25 a month is required. Thank you for the clarification and understanding of the process from you perspective. I have learned a lot about financial literacy and the banking industry. I will continue to be a part of Primerica for that reason. No, I have not gotten rich, but have learned a lot and I will decide which way to invest my money and how to help others with the process.
Excellent! You will do amazing!
The same things you learned for $25 dollars a month with Primerica, I learned them for free on RUclips
@@Pete-xu5yxmost firms have a tech fee though. I had to pay my broker a $60/month fee for technology, websites, garage, and email access when i did real estate.
I really do appreciate your video and everyone's comments! 1/14/24 - I signed up and for me it was a $49 enrollment fee and $25 monthly fee. The recruiter for me said the initial payment was for the background check, which is normal cost in Alabama, and that he is paying for my insurance license certificates. I do very well in car sales, and I see Primerica being a tool to understand other businesses, investments, and financing. I will agree with most that if you don't have a "seller's mindset" and a "go-get-em" attitude then it would be very difficult to do this full-time. That is why I am only doing this part-time so I can see how it goes because I may not be able to sell anything else besides cars and warranties ha ha. SALUD!
Wish you best of luck!
Well Alabama, like most States, doesn't require a background check until AFTER you pass the State test, so it would be financially imprudent to get one until you even pass, which 87% of Primericans can't even do. Secondly, you can't buy a life insurance license. You still have to pass the test (which most fail to do).
Hey there. Just did the same thing, let me how it goes because you just never know. Thanks.
@@devadipsantana You never know? By reviewing their annual reports, YOU DO KNOW. The failure rates are there in black and white.
I am on my way right now to a meeting in North Carolina, I will give it a try ... thank you for your video
share your experience after!
I joined today and paid $125 - $25 per month I wish I did more research they purposely didn’t put the name of the company on ad
How is the scam company working out for you? Please update!
I was a former agent with Primerica, and overall it was a pretty disappointing experience. I think people jump to the conclusion that MLM=scam. To me, a scam is an illegal "fly by night" thing. Its not that. They've been in business for over 40 years, part of the BBB, a publicly traded company, billions paid out in death claims etc. I found it better to be a client of Primerica, than an agent for the most part. When doing an apples to apples comparison, I never seen their investments get out performed.
Thanks for sharing!
Do you always copy and paste your comments on multiple Primerica related RUclipss?
@@johnd9541 when you say always do you mean twice? I thought I would share my experience. Thanks for noticing.
@johnd9541 nope I don't
Not you, the guy you replied to.
Just took a meeting today. Thank you for this video
I started Primerica in April of this year to see if This would supplement my income for early retirement in 3 years at 55. I paid $99 for an application fee and $25 a month for the tech package. I have my insurance license and have started working on my securities license. I have second thoughts almost daily 3 months into this experience. No one wants anything to do with Primerica in the Midwest. I'm not receiving the same training from my field trainer as the rest of my base shop located in Hawaii. Everyone is very nice and positive. The story of Primerica pulls on your heart strings. I thought I could help people with through this company but I don't think I'll make it much longer.
Stacey you will do good, I just advice you to never give up!!
@@ambervillanueva3905 Staying in an MLM is the very definition of giving up.
I’m in the Midwest as well and I have heard that from some people but not everyone.. I stay plugged into my team they are in Arizona, so I get it and I’ve been With Primerica for almost 8 months here if you need any help just reach out
@@LadyDimplez373how is it going for you?
How's it going for you now? @stacyb71
It's $99 for the application (Which is your fingerprints and background check) and $25 monthly for the online tools. If you can't afford the $125 you can do a scholarship program, where they use the money from your bonus to pay for it.
Did you get a copy of your background check?
I recently joined just to try it out and all I got charged with was the application. I guess each group runs things differently?
Its worth it for the licensing alone. Those that are saying its $99 for just a background check is false. It's also covering your courses to achieve a life license, as well as securities. Try acquiring these licenses as an independent and see how much it would cost going that route.
Background checks are not required until AFTER you pass the state test, which the vast majority don't.
That's what I thought too. Primerica claims to cover 90% of the cost for the pre-license course (which is required in most states before taking the state exam) and another investment course (the title of which escapes me). That's why you have to pay a $100 upfront fee, plus a $25 monthly charge for the app you use to register clients and make sales
@@andr3s1976 The course, typically taught by an upline, is entry-level at best. 85+% are unable to pass the entry-level, multiple choice test even after multiple attempts, based on that training.
Well, the recruiter present me this opportunity indicates to me the background check is $124. If I go out, can I maintain the licenses with me?
@@rosaangelicacamposfelix5243 the license is yours. You can work for any company.
I'm former military who is now a financial advisor. I agree with this video. When I started, I explored multiple firms to decide which was best to start my financial services career with. I did not choose Primerica. When someone asks me advice about joining the military, I always tell them to talk to a recruiter from each of the branches; Navy, Army, Air Force, and Marines. Don't just go with the first offer. I recommend the same for this industry.
For Primerica, I didn't like their narrow view of insurance and finance. I wanted to be more independent to do different things; work with business owners, do permanent insurance,...etc. However, what really turned me off was their MLM model of recruiting. It felt like AMWAY and ironically enough, they're jokingly referred to as the "AMWAY of the financial industry." However, I know some people at AMWAY and other MLM companies who love it. So, if that's you, then go for it. It just wasn't for me.
However, like I said, if you're approached by Primerica or are just considering a career as a financial advisor/planner, I'd recommend talking to at least 2-3 firms before making a decision.
Thanks for sharing!
This was the best breakdown that I heard so far. Thank you for sharing this information.
Glad you like it!
A Friend recruited me in March of this year I paid $128 and was required to complete 16 hours of in person training take a 50 question exam that you must score 70% or higher to pass recommend to attend online meetings up 3 times a week and $25 reoccurring monthly fee for access to the Primerica online program. I was a bit hesitant when I was pitched the program yet at the same time intrigued by the opportunity of obtaining my Insurances license, expanding my knowledge within the life insurance spectrum all while potentially helping educate others about the benefits of coverage and planning for the future with life insurance. So I decided to give it a try I did my requirements and was attending what classes I could,that my schedule would allow me I already had primary Occupation as a Supervisor for UPS at the airport which at times conflicted times the meetings were held. Still determined I tried I tried juggling both but not yet able to generate much income through my now secondary part time job I began to feel I was loosing money by paying the $25 monthly program access fee I have since not been actively participating in the program and canceled my monthly payments obtained new employment in the Oil Field and now make over 10k a month while my friend who recruited me still attempting to grow his business when I addressed my concerns to him he responded by saying it is not the money he is after instead it’s growing his business I still have hopes of getting back into the business of life insurance just maybe take a different route down the road until then I have nearly triple my income and continue to invest difference into my future for my family and I!
Same kind of issue I was asking a classmate how do you go to school for a future and jungle being an agent ? Why do you even need school ?
Your time is worth way more than primerica will ever give you.
@@richardjohn1016depends on your team when you join. You being on a bad team will discourage you. But, my cousin is 26 years old now and been in the business for 11 months and now is consistently making $20k a month. and I been in the business for 3 months now and i just got paid 4 times in the past 7 days. I have both my licenses and it was only for $125. No school or getting into debt. So, yea it just depends on your team. Our team is being lead by a millionaire and my cousin got me in the business and I’ve watched him go from sleeping on his parents couch 11 months ago to, now making $20k a month. There’s not much else to say after seeing that personally with my own two eyes. 💯
What are you doing in the oil field that makes you $10k monthly please?
@@WestsideMagiqksurely he didn’t start out that way. But in the oil field you can definitely get to 10k a month easily more. My friend works off shore now and he’s only been with his company for a few years already making 400+ a day
Thomas, I think your video was slightly skewed and biased. Some of the aspects that you gave as "negatives" were not negatives but opinion. Many network marketing types of distribution businesses requires an upfront cost to start your own business (like travel agencies, etsy, etc.) and recruiting is a part of all of them. As far as cost, Primerica is not going to be the cheapest. However, the cheapest is not the best. Cheap life insurance will cut value of the product and there are many tricks that insurance companies put into the term insurance plans like annual renewable rate, or clauses that allows the company not to pay out. Primerica has forever rating so that once you are a client, you do not have to show insurability just to renew the policy. Your list of features of a whole life that term doesn't cover are areas that insurance should not cover or the coverage amount of the whole life is low with a high cost. Buy term and invest the difference for most middle and low-class families is a better option. Primerica does have principles of business to do what is right for the middle-class families. Almost every financial advisor who does not sell insurance will advise most people to buy term, stay away from IUL and invest their money in the market in a good solid mutual fund will ALWAYS produce better returns than the cash savings portion of permanent insurance products.
I just got recruited today and I’m supposed to pay 99 dollars for a background check and 25/month. Honestly I wish I knew about this before I agreed
aye me too how is it so far?
same got recruited today did u quit or hows it goin
I got recruited today as well. My recruiter is the best person I’ve met so far and I’m already getting back $50 TODAY of the money that I paid for the background
Wait. You have to pay to join? Shouldn’t they pay you $100 for signing up? This is bull. Then I have to pay $30 monthly. Crazy…..
@DjStalin100 what's the difference working for a job and u have to (example) go buy nonslip shoes?.. or the job has equipment you need for it they offer it but they take the money out of ya check...no difference
I have invested thousands of dollars in Roth IRA and mutual funds through Primerica....so far so 👍 good
happy to hear that! :)
Great choice
So glad I didn’t pay them. Just had a zoom call meeting with a broker from primerica. Was about a 10 minute call with a few slides talking about the company and how I will make 3-5k a month part time while working from home and training to get my lisense. Then said all you got to do is pay 99$ for a background check and then pay a 25$ monthly fee for the app for training. Was really pushing me to just pay for it to get it jumpstarted after like a 10 minute zoom call it was pretty crazy. So I was like I need to check out my account and maybe move some money around first then he said no problem just give me you bank account and routing number and I will hold the charge while you figure it out. Dude was young and pretty vague about the whole thing and seemed like he fell for the same scheme and was in his recruitment stage how hard he was pushing
I'm sorry you such a bad experience. I think he may have been poorly trained agent and it showed in his approach. The person should never have been on the call alone.
@@leffryportis it’s the whole company is a scam
independent general agencies or imo,s will "give" you 100% commission, yes, what they won't give you is the opportunity or systems to have your own shop. you will be generating overrides for a family owned business that you will never be a part of. Primerica is a publicly owned company, totally different game.
Can confirm, 99$s for entry, 25 a month for learning. I did a lot of research and peoples experiences and I may consider quitting. I have an orientation today. But highly reconsidering. What do I do?
Hi MB. sorry i am confused? did you join for a while and looking for exit? but you mentioned you have an orientation? (aka newbie talk?)
I am in the same situation. What did you do?
I’m in the same boat. I had my first interview yesterday and have my second interview this afternoon. The way he was explaining it seems like you can make a lot of money with this company..
@@onmymission590 any update???
@@alicia_nicole any update?
So a lot of the things I’ve noticed in this video are true depending on the context, but a lot of this, particularly the negative are not correct I’m sure things may have been different 10 years ago though
Can you be more specific?
In the video, you mentioned that the company shouldn't recruit unqualified people. You also said that you were unqualified when you joined and that you couldn't get hired by other companies, so it's confusing that you would talk about that being a bad thing. You also mentioned that the permanent insurance comparisons being used to exalt the BTID philosophy were made using older policies. I would be very interested to see any comparisons you have using a newer whole life policy. Have you found an example that disproves the theory? You also mentioned the high turnover of agents - which is true. But that's true for the insurance industry as a whole, so a bit misleading to suggest that's unique to this company. Overall, even though I do disagree with several statements being made here, I appreciate the effort you put into the video.
Hey Jeff! Thanks for the feedback.
Happy to share more in the future videos
You’re so gracious.
Currently in training with Primerica. $99 application fee and $25 a month online service fee.
Thanks for updating!
hey! how is the training going? is everything legit? someone reached out to me wanting to recruit me but i’m really confused.
@@atelierbyahreema literally same idk if I can trust them or not
@@summeerday9753 same girll. I saw a lot of people regretting their decision and ending up declining the position
Updates?
I had a bad experience with them the guy who signed me up wasnt licened then i was transferred to someone 1 hour drive away from me and in the end i lost money i would have been better off just leaving my money in my bank and collect my 1% ...
So i got recruited by my friend to work and im in this zoom meeting for the begininers and after reading the comments im lowkeyscared lmao
Did you keep up with it? I'm in the same position right now😭
Leave. Unless your okay with making money from your family who will only buy product to support you.
@@michaelaortiz160I did. 100k earner RVP 🎉
Primerica is not a scam! It works, it takes years to build a business! And that is exactly what you have to do with Primerica. Pyramid Schemes are illegal and would not last for 40 plus years. The compensation is actually better than advertised, you get paid 3 times off of one policy. If you are really interested in building a business where you can bring ppl in under you and coach them to build a business as well you will be compensated very well! Yes it is a lot of work & networking but it allows you to start part time and build into a full time business. Of course a lot of people have had a bad experience! 95% of people don't stay consistent for longer than a week! If you are going to contract with Primerica you have to be ready to stay consistent and talk to everybody you see or KNOW! Be great people!
The FTC allows the MLM industry to self-regulate. That is why MLMs remain in business.
Thank you for letting me more understand the financial field. Your video is very informative. Amazing
You are very welcome!
Thank you Thomas, I just fiished a zoom meeting with one of primerica's vice presidents it seems pretty good so far I'm willing to try it out even though they don't like to use the word "try" for me I already have a full time job but I need extra money so that's why I got referred by one of my close friends, ill update later how it wen. They are giving me 1 month to get my advisor license.
All the best to you Edith!
And yes I am on the same page.
That if you want something great.
You cannot 'try'
Do or cannot do. There is no try
But yes! Please share more! Looking forward to your success!
I’m a primerica agent and I was in an office that was breathing down my neck and I didn’t feel comfortable and your right when they say “Do” not “Try” was a big no no for me BUT I did moved offices (the Best decision I made) and i did had to fight to be in the other office I had to be terminated and had to start all over again and let me tell you it was worth the wait I love the new office they understand that everyone has a life and emergencies happen family happens and we build eachother up no more breathing down my neck I feel comfortable and relaxed I did follow my up line that are now RVPs we didn’t want to be around that type of toxic environment where they lie to cheat and now we are happier than ever. The office that we are in are really honest from the start. Everything’s been really great. So if you want to do the business find a great office that will fit you an office that will understand this is an opportunity not a job they shouldn’t be telling you do it or else it’s by your terms and once you find a great environment I know you will be great!
@@fabiolamaza6631 thanks for the comment looking forward to it in this business I already had a meeting
How did it go??
@@WorshipFloww not to bad
There’s no deadline anymore. This business is built for people looking for an chance to do something different. It’s not for everyone cause most people are afraid to branch out of their comfort zone and like their 9-5 for 45 years and retire.
You must have had terrible trainers if they couldn’t teach you on how term is the only answer and yes any other insurance product you have been deceived if you purchased them.
Treat it like a normal 40 hour week job and in a few years it’ll set you free
Hello, I'm trying to determine if Primerica is a good fit for me. I only need to make a few hundred dollars a week but need to be able to work around school schedules. Would this be a good fit for me? I believe in the power of life insurance and investing and want to teach others how to be financially secure. I had an interview today with the regional vice president and he said I would not be required to recruit anyone and there were no sales quotas or anything like that. I just want to make a difference in people's lives by demystifying investments and insurance.
The average MLM'er loses money, once all costs are factored in. A few hundred a week would put you in the top 5%.
So when u get your education from Primerica and years go by u don’t lime the company- u decide to quit what do u have to pay back ?
Nothing.
I started with primerica a couple months ago and its honesty not for everyone, But if you're willing to put in the hard work you can definitely succee! Go to a convention and you walk out with such a clear mind. Let me know if you might be interested. I can help give more information.
You are indoctrinated
Are you still working with them? If so, how has it been so far!
When you don't succeed with Primerica, you criticize! 98 billion money under management, 9 million families have already received their coaching to understand how money works! myself it was with Primerica that I really learned how money works, I learned how to manage my money for my financial freedom, stop criticizing or better keep silent, there are people who make 40 k and more by me! so
Hi Mimi, for sure maybe it's me who doesn't fit.
Question: do you work for primerica full time?
Thomas, why you delete my comment ?
@@andyc8918 hi Andy. Which and where comment did you post?
Is it in this video?
I didn't touch it 🙂.
Maybe YT auto del.
@@andyc8918 I can see you reply in other comments though
I dont think hes critizicing it. He even gave the good side. If you think about it. If I want to invest I will go to an investment advisor because they know their product very well. So as if I want insurance. Hard to deal with jack of all trades sometimes.
2 years later I would like to ask them a question, if I finish my course for the life insurance license even if I stop working with them, can I continue selling life insurance with other companies?
@germanbeltranprr6508 your license always stays with you. So you can go to other brokage after
@@ThomasCChanhow would I go about that?
@@ZyKia.Alonaaa that depends on the communication with your next brokerage.
Similar to a real estate sgent
Now it allows to get the 70% of the policy in case of terminal and yes it’s term but with renewal with same price guarantee and until 95 years of age.. it used to be lower but now you can renew until you’re 95 yro based on what I’m learning from training
Hi Thanks for sharing!
yeah.. for the terminal illness, i remember it's within 90 days or so... not a significant feature
yet the price is 20% more compare to a general term insurance
I just came from an interview and started to get cold feet from hearing much of the same from other insurance companies and this video helped alot, it's weird how on the front cover a job will seem, friendly, and welcoming, and they tell you how it made their dream come true of making money, then you actaully join and it's so far gone from what was prompted that you feel stuck or just stupid for leaving a previous job
Yes it is still true 25 monthly for app usage 99 subscription also
Thanks for confirming!
Still very up to date except a few things. No E&O requirement just the 25-125 a month depending on your rank. MF front end loads do take a lot of opportunity cost from clients that could learn to invest for themselves. There is no need for the SIE when going for the 65 btw. The 6 is a sales license. It's good they pay for it but it's not needed in real advisement if you're truly doing what's right for folks.
Primerica is a great place to start but if it's the only place you ever work, you do yourself a disservice in the overall of finance. Primerica Term only dominates in regards to the fact it has no war clause. There is nothing else about the Term that's better than anywhere else and it is often more expensive. We were told by the head of compliance that our job was to sell and recruit, NOT to help clients out of terrible products, like badly written IUL. I do not agree with that on any level.
Great place to start but you will never be taught what's really out in the world in finance if you stay. You'll definitely not be paid what you're worth even at RVP. The maker of this video doesn't understand how investing works against Permanent insurance BS and that's OK, but if you are with PRI, YOU better know your product knowledge so you can answer that very simple question and you will never get that level of training inside PRI.
Doug Andrew did a 9 hour training with questions and comments open. PRI did a 1 hour trying to cover both IUL and WL with no questions or comments. It was a disaster and I'd love to take all the primerica Orphans that aren't being paid or trained and fix that. You are awesome people with great hearts.
I have the same goal I’m just here building a foundation but I’m all for growth. Thanks for the very informative video.
This is an excellent video!
I j got contacted with primerica from a close friend and his step dad and mom are vice presidents and they are basically walking us through how to become an agent once we’re 18 in a month and it seems legit and nothing seems sketchy at all. Maybe check them out some more and make another video about them now and not what it was 10 years ago?
A leopard and its spots.
@@johnd9541 what?
An MLM is an MLM is an MLM.
Your friend and his parents are using you. They make money of your recruitment and sales and all your monthly fees go up the pyramid to the higher ups like the vice presidents.
90% of people in MLMs (multi level marketing) companies like Primerica loose money bc on onboarding costs, courses, monthly fees..
I hope you can make the best choice for you
Yes. Good idea. Our firm is 27 years old and its morphed itself at least a dozen times since then. For the better. Each time.
Is Primerica Invesco Ira a good deal. The agent told me there is only a 1 time management fee.. is that accurate
I had a “friend “ who wanted to sell me on the primerica pgm but I could smell a scam/ something not right. I stayed away from it and am glad I did. Pyramid scheme business models suck imo
Hi Dale. Thanks for sharing.
Did your friend ask you to join?
@@ThomasCChan I was offered both options but the company model seems not quite right and I don’t appreciate people selling products like this to friends and family as they are looking out for their best interests and not yours as they climb up the pyramid. I’ve seen enough of the pyramid business to not appreciate it and the false sense of friendship. Makes you really value an actual company who’s product sells itself by word of mouth.
@@dalesiemens cool!
Did you join the a broakage after? Or move on to different area?
@Timothy Abernathy People like to refer to MLMs as pyramid schemes to give themselves a sense of elevated status so everyone thinks they are "above" MLM when in fact they couldn't be successful at it. They then go brag about being a cashier at the local supermarket. No scam there. 8 hours in, $100 dollars in our pocket. score!
@Timothy Abernathy Pyramids are not illegal. Many companies do this practice. They are also referred to Multi-level marketing.
Did the training you did come with a license and certificate you.were able to use at another job after?
@@WhereverAndAnywhere correct the llqp is the Insurance license
1,322,812 have left Primerica in the last 4 years alone.
1.6M after 5 years
What life insurance do you recommend with all the riders Primerica has?
I paid 124 to join & train I feel depressed because I’m going through a hard time and I’m a mom of 3 . Am I aloud to back out
Hi yizel. Just like a job
You can resign at any time.
I just joined Primerica a few days ago. I paid $128 to join because I am looking for a side Hustle. I currently work in the grocery business as my main job and have been for 20 years. I was looking for a side hustle turn extra income on the side and was told by my coach who I met on Facebook that it would be a work from home type of job and it would be very easy. I attended one of their Tuesday meetings she invited me to and fell interested after hearing some of the "success stories" and signed up that night. I met with my personal coach the next day and she bombarded me with a list of all these requirements that I had to do within 30 days. She said I needed to complete 32 hours of training online and then take the quizzes and pass them and then I would receive a big booklet and have to study for the big state exam to get licensed. Then what made me uncomfortable was she asked me who were my close friends were and she not only want to sell to them but she wanted me to recruit them immediately on the spot by calling them. I did mention to her that I was really uncomfortable and doing that at the moment and she told me that I would be stuck at a level 1 entry and would not move up. Now I know if I was to talk to the few friends I had they would say its a scam and I do not want to think that myself but I'm having some red flags here. I was thinking about quitting before the 30 days and just eat my $128 but I'm afraid my coach would be disappointed and upset especially with the time she had print for me already. What should I do?
@@dugan06 You can say, Hello so after doing my research and talking to family relatives I’ve realized this is not what I am interested in doing but thank you so much for taking the time . God bless 🙏
@@yizelmora8943 I will try that. Thanks. It has been a challenging year and I had thought about picking up some extra income on the side and so I thought of giving Primerica a try. However the last few days I have just been more stressed out than I was before with just my regular job and feel overwhelmed with everything. And selling life insurance and senior products isn't something I really want to be doing. I feel like a fraud or a fake doing so. But thank you so much though and good luck to you as well. God bless you.
@@lenas9255 hi Lena.
Just talk to the person who recruit you and say you have 2nd thought on it.
12:32 Dave Ramsey says that whole life and universal life insurance is bad, you should watch his videos about it! Term life insurance, and keeping your investments separate from your life insurance is the way to go
Dave's earlier radio show co-host was Roy Matlock Jr......of Primerica. Dave is hardly unbiased. lol
I just got an invitation to be one of them, they said no pressure on recruiting others into my team, I have two choices, one is expanding my clients and the other is recruiting, is it true? And they said the fee will deduct 39 bucks from 99 bucks for the join fee if I decide by tmr evening... I am confused
Hi Marco. For the fee I think it's branch to branch promotion.
And yes it's true that you can Either keep getting client or recruitting. But the only way for you to get promoted aka bigger paid. Then you need to recruit three people minimum.
So even you have 1000 clients but no recruit, you still remain at the lowest level.
@@ThomasCChan Thanks for your so detailed and prompt reply, it is super helpful!! 😄
@@erzojourney always! And with that being said. As I mentioned in the video. Primerica has lot of good concepts and presentation as well.
So it depends who's your mentor, the branch and little bit of chance.
Good luck!
Run
never buckle under pressure. That same deal will be available from someone next week as well.
Excellent video. I was recruited while trying to get a Roth IRA. I backed out but it was a very swift recruitment style that threw me for a loop.
Useful info! Thanks :)
Thank you!
I recently joined but the structure is pretty much the same, you pay the $99 to join but Primerica pays for your license which is worth about $500 dollars and since its your own business the $25 a month is to run the program. This is not the first company doing this but so far so good for me.
If you want to become successful in Primerica. The most valuable information you can get is from winners like myself. Not from someone who started lacked the coach ability & then quit because they weren’t good💯
“Just join my team and you’ll start making money (covering my losses) today! You just need a hustle and grid and you’ll make it! Just like me! A winner trolling comments of Primerica videos!”
Hi Philisha
I am thinking about joining, I would love to get your insight. I do have my license already.
😂😂😂😂 hell nah
Philisha , I Totally Agree💯
Biggest fed
As a 100k earner RVP with Primerica, I've been through the trenches and know first hand exactly what it takes to win in Primerica. I'm not going to say it's easy or for everyone, nor that it's perfect. For the right person such as myself, it's a life changer.
I think you're a good guy, but there are definitely many inaccuracies and misstatements in this video, as well as several things stated as fact that are opinion. I'm not going to type everything out here, as nearly everything has been covered in the comments. I genuinely think you're trying to help people unlike a lot of videos that just like to be negative, but unfortunately there are going to be lots of newer people who see this video and get scared away unnecessarily from misinformation. You said it yourself that it happens, but you're contributing to that phenomenon 🤷
Would love to have a live discussion and clear some of that - people deserve it. Feel free to reach out with questions.
Did you get your license?
From Primerica ?
Yes many years ago
Can I ask what do you do at this current moment? Entrepreneur side? Any social media where do you give advice???
You cannot join Primerica if you have a felony. Primerica does background checks for everyone who submits an independent business application. . They do not accept just anyone.
thats comforting lol
I was told it was around $150 for a background check, $80ish for the certification test, and $130 per month for liability insurance. You could technically end up paying more than you make.
Technically? A study for the FTC indicated that 99.7% pursuing MLM opportunities actually lose money when all costs are factored in.
Yes Primerica is worth it now Im on my shit
So what is a good alternative? I was really hoping you would offer some suggestions. I am a licensed MLO and well compensated, doing around 750-1mil in volume per month, but I do want some part time avenues and potential for passive income. I have not found many options that I am keen towards so far and have mixed feelings about Primerica. Any suggestions would be GREATLY appreciated
I just finished a zoom meeting. Prior they didnt tell me the name of the company so it seemed fishy. Didnt know anything going in but it immediately sounded like Pyramid. I told the recruiter that id think about it but im going to pass.
What happens if your agent dies first? Who are you going to talk to for your claims?
@@Ai_leen90 your policy is always with the insurance company. And evert company has a claim hotline
Is it a scam...... I just paid 74 dollars during an interview for a license and monthly paying software expense...I'm scared and just need help
Hello. I can say. It's not a scam.
You do learn a lot of things. And for you exchange it for a service (admin fee) and online tool
However, this is your own business. Therefore you are 100% responsible for the up and down for the business. Aka are those tools your expense or helping you succeed
Contact your trainer so they can get you moving!
You can't "buy" a license. Your $74 pays for you to take the test, and not necessarily pass it. 84+% either don't pass it, or stick around long enough to fail it.
@@johnd9541 you can pass the test with a D-
@@elijahkoch9917 That's comforting to know my financial advisor only makes correct decisions 60% of the time. lol
I think a good thing us that it is a job that no one can take from you. Even if your uplines don't want to work with you, it is still your business. It looks good as steady employment on your resume.
It holds about the same cache as having Herbalife, NuSkin or Amway on a resume.
Well this information is somewhat incorrect. You didn’t mention that the savings in a whole life policy known as “cash value” gets sent back to the company after the insured dies. So the policy owner pays for both yet they only get one. You didn’t mention that. See term insurance is pure insurance there are no gimmicks. Also if they get sick or disabled Primerica offers waiver of premium & accelerated benefits which you didn’t mention either. So clearly you do not have as much knowledge as you think. Lastly yes recruiting & training is something you get paid to do💯 in many other companies they “hire” people & collect a percentage too without providing an opportunity for ownership. JS 🤷🏽♀️& no you cannot get promoted for recruiting alone. You have to help clients, you have to collect a certain amount of premium to qualify for a promotion. We get paid great from freeing people from having their cash value taken back from their current company
Hi Philippa, great to hear your input
1a. Waiver on premium and accelerated benefits applies to every insurance company, so it's not primerica only feature so I didn't think mention is needed
1b. Waiver on premium means you don't need to pay for the policy in case of disability or sickness, but at the end of the day it's not going to provide a income replacement like a disability or critical illness can do.
1c. Sure now primerica may offer critical illness insurance, but Definitely is not available when I was in 10 years ago. And I still remembered how the office is bashing ci as waste of money product which I find it a bit ironic.
2a as whole life insurance issue. They also provided both cv and death benefits now. The only get one option was long time ago
2b true term insurance is pure protection but as I mentioned in the video, primerica term product is 10-20% more compared to others. So as a client now I can get same protection but cheaper price and have a choice to covert to permanent if needed
3. And yes if you watch my video. I also agree with team building as it's a nesscary step to grow your business. But I don't like the fact they put a restriction you have to recruit before you can get a raise. I am sure the intention behind is good. However you also cannot denied the fact that alot of agent just recruit random for their own interest.
All in all, there are many prospectives to one thing.
And as i mentioned in the video. I never regret i join primerica because it shapes me into what I am today. 😀
In the UK pretty well all WOL insurance is cashless. It used to be that there was an underlying investment but when you strip out the charges the growth was pretty awful. Nowadays its cashless and we use it for Inheritance tax planning on a joint life second death basis which is cheap and even cheaper the earlier you put it into force.
How many people are in your base shop and where?
The video says they only offer Primerica products but then mentions the other companies they partner with for other products - like 401k, mutual funds, will/end-of-life planning, etc. It's my understanding the agents are trained to offer whatever product the client needs that is in Primerica's network of partnerships. I think the E&O insurance is also included with the $25/month agency fee. I believe the current cost is under $80 to first get appointed. The passive income model is used across the insurance community. Also, this video mentions no requirements...but there are: passing the background check, passing a state licensing exam, getting fingerprinted in your state for that background check, and to do investment work, also pass tests for a securities license. If someone isn't qualified to do those things, they can't do the work. As far as agents having other jobs, I think recruiters encourage starting part-time for those who can until they earn enough income to sustain their lifestyle.
Primerica's term has no passive income as you don't get annual renewal commissions, so it's a once n done thing.
@@johnd9541 It does if you build a team... that builds a team... that builds a team.
@johnd9541 The passive income is when you build a team of agents, who build a team of agents, (you becoming a broker), who build a team of agents, on and on. Then you're continuously getting overrides from the business processed. Commissions aren't just from term insurance. There are many partners Primerica connects clients to to save them money and help them invest, as many agents and the brokers are also securities licensed. The partners include companies for annuities, 401K's, IRA's, mutual funds, Rocket for refinancing or loans, on and on. If you want an Info overview, I can schedule one for you with a broker this week who knows all the ins and outs. They aren't employed by Primerica. They are 1099 independent contractors using Primerica for their appointment (a sponsor, so to speak) to be able to use their licenses.
@@cbacon7813 If 5 recruit 5 who recruit 5, you exceed the entire planet's population after 13 levels.
@@cbacon7813 Passive income is a myth of MLM. Due to the high failure rates (99.7%), it is a constant struggle to continuously recruit replacements.
If you want to pay your bills and your rent and need to work asap. Stay away, you will waste your time. My first meeting with them I've been asked to pay for the certificates that the will apply me for . " A comment from two business owner"
No qualifications needed? I remember that if you had a felony record you weren’t qualified to join
Well that's default.
But as in.
No need interview. No need certain work experience and such
Thank you very much Thomas!!
What about the fees in their mutual funds? How do they compare with other mutual funds? How do they compare with fees in the funds embedded in permanent life insurance? Also, many multi-level marketing schemes are barely indistinguishable from pyramid schemes.
Hi Norman, since most of the funds they are partner with other banks and investment firms. there is not much big difference in them.
@@ThomasCChan okay, not as bad as I feared.
@@normanmayer5209 :)
@@ThomasCChan If the sell products offered by the banks, then obviously the fees are higher in order for them to also take a cut. Nobody works for free, other than their selling force.
see my comment above. Whole heartedly disagree. Sounds like you are parrotting what someone in the Bar told you about a mate you tried and failed because he only lasted a week and that the concept never worked for him.
Hi, I have an insured that died of emphysema in October of 2023 and the other beneficiary committed suicide in December of 2023. Primerica isn't paying up. How can I make them pay up? It is now April 2024
Since your experience was 10 years ago, much of your information is inaccurate:-(
For sure Gail!
Please enlightened me.
Which part needs to be updated
Gail, could you be more specific?