Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide. Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page.
However, this does not influence our evaluations. Our opinions are our own. NerdWallet is a free tool to find you the best credit cards, cd rates, savings, checking accounts, scholarships, healthcare and airlines. Start here to maximize your rewards or minimize your interest rates. Georgia Rose.
Uses a multilevel marketing structure for sales. With other companies, you can convert your policy to a permanent one based on the health classification you received when you purchased the policy — even if that was 20 years ago. Low- and middle-income families are harmed by these rate hikes the most, and they are the ones that depend on access to affordable life insurance the most.
We run across a lot of people who have been declined for a term insurance policy by Primerica because of health or lifestyle issues, but we were able to get them affordable coverage. When it comes down to it, you can get better-priced coverage with more flexibility with other term policies on the market from a company like MetLife. Most recruits are sold on the dream of what their top-tiered agents are doing and go to work part-time with that dream in mind. Primerica is a multi-level-marketing scheme.
No matter how a Primerica agent will spin it, it is. There is no inventory, you have to pay fees, and there are 11 tiers above an entry point. This is multi-level marketing.
If you were thinking about buying from them, you can do much better. The company was formed in by a life insurance industry legend, A. In A. In they became affiliated with CitiGroup. In the company went public. In , CitiGroup sold off its remaining shares and they discontinued their association with CitiGroup. There have been some household names associated with Primerica — Travelers Insurance and CitiGroup specifically.
Both of them have distanced themselves from the company. The customer satisfaction ratings for Primerica as tabulated by J. Power was one of the lowest in the insurance industry in Most Primerica reviews are bad. Just know that you can buy a better term life insurance policy. There are other companies like AIG that can offer more competitive pricing. Skip to content. Primerica Life Insurance Review: What You Need to Know in Primerica is a life insurance company that has more than a 2 billion dollar revenue from term life insurance premiums.
Also they always have you in trainings and meetings. Now I appreciate the motivational stories but, its the same every week. I am just disappointed. I manange to get a life policy to before I understood what term ment.
I just finished my lincense course and next will be taking my test. I wish I had seen your article before I joined primerica in other words I am going to get my license so I can get my refund and my bonus and look in to FFL or any other insurance.
This was spot on. I didn't know a lot of people, therefore had little credibility, and didn't do too well other than selling some term life insurance and retirement plans and after 4 years, became inactive, and transferred my licenses to MetLife Auto and Home as a captive P and C agent that sold some term life. I did well with Met, becoming top producing agent in my state 4 years in a row, and going to annual conference in Fast forward, I grew tired of "sales" and in , persued a career in pharmacy and became a registered pharmacist.
As a hospital pharmacist in rural NM, I see the great disparities between the "haves" and "have nots", the treatment they receive, and the health outcomes.
Although I am compensated well, and also have a part-time consulting pharmacy business, I have decided to get back into Primerica part time, with no expectations.
I've seen firsthand, with co-workers, and patients, the difference between having a financial road map for retirement, and relying on a hope and a prayer that social security will provide in the golden years. My Primerica RVP from is still in the business, he's not hugely successful, but he gets to work when he wants to and spend time with his family when he wants to.
He's a decent, honest, low key person, and probably the main reason I want to get back into Primerica. He's also knowledgable about the insurance and investment products he's a former CPA. Are there pushy, unscrupulous RVPs and leaders in Primerica? Sure, but I'd rather focus on the good than the bad. What's wrong with talking to family and friends about getting out of debt, having the right kind term for young families with financial responsiblities and proper amount of life insurance, and saving money for emergencies and retirement?
No where did you mention the FNA financial needs analysis that is provided at no cost. I'm not doing this for the money I make well over 6 figures , I'm doing this to get the word out that people are hurting financially out there, especially now.
I just started with Primerica. I didn't fully read your article, mainly because a lot of it seems far more than biased, but I did skim through it. I don't feel that you're being fair with a lot of the things you said, but, since you have no actual experience with Primerica, I'm not too worried about it. In my experience so far, Primerica is so much more than just an insurance company. They help people to get out of debt and prepare for the future.
Personally, my trainer does not talk about targeting Seniors, at all. I think that you are more focused on making money through sales sales sales and one of the best parts about Primerica, in my opinion, is that I don't have to sell sell sell people, friends and family, products that they don't need and don't want.
Are there bad apples with Primerica? There are bad apples with every company, ever. Maybe I just got lucky and got on the right team. I don't know. I suppose we shall see. Good luck. Hi Ryen, thanks for commenting. I appreciate you admitting you didn't read the article entirely before commenting.
I'd recommend carefully reading through everything top to bottom as I address all of this in great detail. Otherwise, best of luck to you working with Primerica; there are certainly people who do very well there. I just got off an interview call with Primerica and it was totally off-putting to me.
The 2hrs I spent were all about recruiting family members and friends and very little on actually selling the product. It reminded me of those pyramid schemes. I'm glad I read this article, you were spot on! Thank you for being very neutral. You said it wasn't a pyramid and its not. You wrote a great article. The recruitment piece should be enough for anyone with half a brain.
I fired corporate America two years ago and made the jump to Primerica. Been an agent ever since. I did read your review in full and fond you were fair and unbiased. Also read through most of the comments. Not every company is the right fit for everyone just like not every product is the right product for everyone. Here is my two cents worth.
Why recruiting? Recruiting is an essential part of growing a business. You need a host, cooks and servers, etc… Without them, you probably wont survive. The point is to eventually have others run your business while you earn passive income. Why friends and family first? Friends and family will be the first to help in spreading the word about your new venture. They may even benefit from what you may have to offer. Going back to the restaurant, before you open it to the public you want your friends and family to come by and try your food first.
Draw a triangle and at the very bottom start with the employee. Above the employee is the supervisor, then the manager, then the department head, etc… all the way up to the owner. Then you have to take into account seniority. As a Primerica agent, your advancement depends on you and you alone. No other factors to consider like those of an employee at a job. The Company?
Like many franchise restaurants, you could have great service one day and the next time a different server that makes your experience less than desirable.
You just had a bad server. Unfortunately, one bad experience makes the whole company look bad. My mentor has been in the business of finances for over 28 years. He's a straight shooter. Put your clients needs first and your pocket second is his motto. You have options. I was lucky to land where I did. Hi, I'm young and 22 and just looking for some insight. I joined primerica and got life licensed and securities licensed. I am not a fan of the emphasis on recruitment and on farming my loved ones friends and family for sales and leads.
I am essentially wondering two things: 1. If I do decide to leave the company, will my licenses be revoked such that I cannot use them when applying for other securities or Life insurance jobs? I would hate for all that studying and money to be for nothing. I don't see long term success just asking those close around me. I'm not sure about Canadian law, so it's hard to answer. There rarely are salary-based insurance sales jobs.
Hi, So I was wondering what happened to this company in my area. About 10 years ago I was approached literally left and right and always declined. Thanks for the info and reassurance I made the right choice. I agree with everything I just read, but how do I get out?
I've only been with them for 2 weeks and I am never really comfortable selling things to people. I started working with Primerica about a month ago. I just got life licensed. My biggest problem with Primerica was, is, and will continue to be that they expect you to prospect your warm market. My family and friends are not the people who want to talk to me about their financial lives. Hello, I was recently approached by a recruiter offering 6 figures and a full benefits package, and a "set your own pace and schedule" type of employment.
While researching the company I came across your article. I was already apprehensive about joining due to the overhyped pitch he gave. My father always told me, "If it sounds too good to be true, it probably is. I will be declining the offer. Hello, as a Primerica agent I do appreciate your unbias report, however I believe you are not telling the whole story. We are a company of many things, just not life insurance. You can't compare apples to oranges. Primerica was built by a highschool coach, Art Williams, who got ticked off because his parents got taken advantage of by an insurance agent selling a product that wasn't fit.
Our concept "buy term invest the difference" is one of the best things me personally has come across. I will put our life insurance product and concepts up against any other insurance company that is out there. Besides life insurance we offer many other services and products that other insurance companies do not. I think thats what makes us so great, diversity.
Many people who come in the business complain of how this company is run. Everyone has a chance to make something of themselves, and what I have found over the years is most people think this a get rich quick type thing and when they have to put in a lot of work they start to bad mouth the company.
You definitely have to put in the work to get results. I don't understand why people bad mouth a company when they didn't even try. With that said I think we have the best business opportunity available in the world for anyone who isn't afraid of work and who understands how a business works.
Thanks Mike, I appreciate your comments. Every agent should read Art Williams' book "Coach! Excellent article! I enjoyed being an agent, however I was put off by the aggressiveness of my up line. I allowed my credentials to expire, I wish I had not done that because I find it crucial for everyone, especially the African American community.
I am working on recertification! Keep sharing valuable information. Each one, teach one. What do these companies know that you do not? Thanks for your article! I was recently approached to join Primerica. The approach was a bit unscrupulous. An acquaintance on IG sent me a message saying she thought she was me on a call to start a home business. When I expressed interest, she asked if she could get my feedback on a video.
I knew it was a video about the business, but I thought she wanted my opinion on whether she should join. Little did I know that I was being recruited. The first red flag: I got a call from a man that said he was her trainer, but I had to reschedule. So were set to talk the next day. The next day, it was a woman there as the trainer. What happened to the man? I was expecting a discussion about the products, but I was shown a graphic that contained a list of agencies under Primerica.
Second red flag: The graphic listed companies that we had to work with. One of those listed is AXA. I had a very bad experience with AXA, and would not switch to them again. I can't trust any company that works with AXA. Even further, the IBA agreement states that we can only sell Primerica products.
Fair enough, the companies needs to make money. But if I'm independent, I should be be able to sell people whatever works best for them. The point in this article about being limited by products is spot on. Third red flag: I asked about the training protocol.
What systems am I being trained on, and how will I be able to help people? What information will I be learning. I was hoping to see a graphic outlining the training timeline, model, process, etc.
Instead I received a very vague answer. Never in my life have I signed on to a training program without seeing a syllabus of what I will be learning. It didn't give me much to base my decision on.
Even further, when I was sharing some of my insight about financial freedom, I get the sense that I wouldn't be learning anything new, so to say. Fourth red flag: The trainer tried to get me to rush into signing using my SSN. I said, hold on, I have to read through this agreement first. She did give me time to read through, but I didn't feel settled in what I read. All in all, I don't think Primerica is a good fit for me. The part about higher commission elsewhere does make me curious about working with another company.
So tell me about your group, David. Hi Shawn! Thanks for the detailed reply. Thank you for such detailed information about Primerica. I got introduced to Life insurance sale through Primerica recruitment process but have not sold or recruited anyone. I had close opportunities but my gut kept telling me something was not right and I have learned over the years to trust that feeling. Some of the most costly plans actually work great for some patients and terrible for others, because of the individual needs.
I am thankful for this confirmation. I have been vetting a company that I feel very good about but I am open to learning more about yours as well.
You are pretty accurate with the process, however, the interpretation of many who will read this will take it as a negative. I have been with Primerica for 17 years now. I was skeptical at first. I had a cash value policy and was saving money in a bank savings account. When I saw what they did for me, I decided to give it a try as a part time agent. I had no intentions on quitting my job as a police officer for 15 years.
It was through a combination of recruiting and production. I did it in 3 months. Today I am a Regional Vice President with 3 offices in 3 different states. Primerica has been great for me. I understand people want to do research.
I understand people are skeptical. My 2 cents is Primerica is a great company to start with. I am newly licensed and just getting ready to start selling final expense. I have looked at many opportunities to sell insurance and David's agency makes the most sense by far. James Young 08 Nov 21 One of the better places for agents to work.
Two thumbs up, cant complain Gurdip Singh 07 Nov 21 This is an excellent agency to partner with. The training is exceptional and you have access to all the tools you need to be successful. Fred Palffy 27 Oct 21 Duford Insurance group is such a great mentorship program.
David shares very relevant knowledge and expertise every week on his training calls.
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