As a Primerica Rep I am willing to step up to the podium and accept your challenge.

1. When I joined Primerica I did pay a one time fee of $99 and I do currently pay $25 per month for the software program that allows me to run my business. While I was in training and unlicensed, I was able to market one of their products to clients which payed me the $99 dollars back several times over. I received extensive training and did not have to pay for my insurance license and I am in the process of obtaining my securities license which the company also payed for. No compete clause- So what. It’s not like any other company would have given me chance anyways.
2. I’m not sure where Primerica Truth is going with the ponzi scheme claim. As I understand a ponzi scheme is a system of taking money from one investor and giving directly to another investor as interest earned on that investor’s investment. Think Social Security. Which is a giant ponzi scheme run by the government. I think Primerica truth is trying to speak to the recruiting side of the business. I do believe that if any business wants to grow they have to recruit/ hire/ employ or whatever you want to call it, new people. The only difference in Primerica is that a Rep at any level can bring someone into the business, train them, and enjoy an override from that person when they are productive. Compare that to a boss who hires employees and puts another employee in charge of training them for little or no additional compensation. Then who gets to enjoy the override from the new hire? The boss. Which system do you think is really better? I’m not in the business of financial services. I’m in the business of distributing financial services. That’s why I’ll ultimately be managing an office collecting overrides from the people I supervise, while Primerica truth will be shaking the bushes for more sales to earn a buck and making his boss rich.
3. Buy term invest the difference period. The only people I have ever seen that buying cash value life insurance is good for is the agent selling it.
4. As far as our term prices go. I don’t have a nicely completed comparative table of prices to show you. But I can tell you that I replace everybody’s insurance everytime because I always have a better deal. The SMART loan is right for some and not for others. I can honestly say that banks use fuzzy math with the interest calculations. When I show a client that they can be out of debt faster and pay less in interest, they really aren’t concerned with the interest rate. I wouldn’t be either.
5. Compensation. A new Rep starts out at a 25% commission. However, you can easily qualify for a higher commission before you are licensed. I did and started at 50% plus a 20% bonus on sales. Who else do you know in financial services that are giving bonuses to new people? I think they usually only give bonuses to the top execs who now a days have to give it back because they are owned by the government due to shoddy business practices. Do your homework Primerica Truth. Primerica submitted an IPO and will be founded as the largest financial service marketing company in North America with a 33 year track record, no debt, and $5 billion in liquid capitol. No government assistance needed. The top earners have been in the company for years and years. But the top earners in most company’s are senior to everyone else. We also have several people who have made it to the top who are young and new in the company. I won’t mention names but a certain SNSD in Utah is 29 years old, in the company for 8 years and earns over $1million a year. My RVP was a $100k earner in three years not ten.
Rachelle
Primerica is an awesome company who does right by their clients and reps. Yes there are a few bad apples. But a company of over 100,000 reps is going to expierence that.
Tracey
I have a real job with a real paycheck. It sucks. I have no opportunity with it. I have a shot with Primerica and I’m going to take it.
Jason

Your acumen, and comprehensive research is well appreciated by intelligent people. I would love to see how a Primerica Rep would answer each of the 5 allegations posted in your commentary.

I will keep watching, but I am sure that no one can step up to the podium and offer an INTELLIGENT counter, because you are dead on the money. Good Job!

I do agree 100% of your comment about Primerica. It is not for everyone but if you like what you do keep doing it. My only problem with Primerica is that most of their Reps alway “saying” bads thing about their companys.

AXA Insurance of New York is rated by the neutral A.M. Best rating firm as A –
Primerica is rated A +

Enough said. Everyone look it up. http://www.ambest.com

This is an awesome website. You are really providing a great service exposing some of these companies. I personally have license for life and health and can offer some great term policy rates. I don’t have all my facts but have been told by others how expensive Primerica’s term product is. I have been approached by Primerica and ran the other way. Have no intention of ever joining them.