my sister in law is getting involved with primerica in montreal and we got a first session led by her mentor yesterday. i certainly do not feel comfortable with the family/financial advisor combo.

i am not into finance at all – nor sales, nor insurance. critical mind simply calls for information about this approach to fantastic world of finance. i want to thank you and all contributors for sharing their diverse and – for some extremely – experiences. such balanced insights are rare as most posts either share hate or adoration of that primerica thing.

i start from ground zero. my situation is very average. i do not intent building business making with them – but is there anything worthwile as a customer? i found the first session pretty insightful
as it brought my nose back to stuff i do not fancy smelling. basically my sister in law’s mentor made her primerica presentation and got our financial infos. they are supposed to be back tomorrow. any advices? or suggestion of questions we should ask as potential customers?

Hello Djela, I don’t know of many options in Canada, but you can go to this site for other information if you get no response here.
canadian/term-life/primerica

People post some great information that even I myself “borrow”.

Hello Djela,

The best advice I can give you would be same for every company you would deal with:
- take down as many notes as possible
- ask as many questions as possible
- ask for the plan (they will probably say no )
- go with your questions, notes and plan (if you can) to another financial advisor (independant or at a bank) and validate what has been said.

If everything makes sens, then go with them

I said it before, the color of your banking/investment/insurance statement doesn’t matter, it’s the advisor that does.

Hey! I have worked with insurance companies and I have worked with banks. I know what both sides are doing to consumers in terms of profits. I still believe in buy terms and invest the difference and that has always been the crusades for Primerica. People who quit Primerica and went out to offer Universal and Whole Life policies to struggling consumers obviously are not in for the help, but are in for the money that’s why they quit. That is not debatable. The proof is also obvious when it comes to service. Check out the Investment Executive for June 2009.

Link: epaper/viewer.aspx

Primerica ranks number 1 in basically all categories which covers products, quality and service. I am really proud to be a Primerican. The clients should also be proud to be part of Primerica. It does really show that we are doing the right thing at all times. Whatever Citi does to Primerica doesn’t really matter. Whatever changes or transitions go on in the next few months doesn’t really matter. What matters the most are……..we are the only company who actually stand out on everything. Our crusades will go on. Our debts and liabilities will stay zero. We are composed of very strong teams and strong leaders. We will still be winning and we will still be part of Primerica.

Kate. Please stop saying people who left Primerica left to sell Whole Life and universal life. That is NOT true. Many of us left so we can truly do what’s in the best interest of the client rather than what’s in the best interest of the company. As a business person in my opinion the agents should be concerned with what Citi does with Primerica. You as independent contractors have signed contracts that can have some material changes that may not be to your benefit.

You say ” What matters the most are……..we are the only company who actually stand out on everything.” As usual this statement is NOT True.

Tell me! What kind of policies would you offer somebody who is struggling financially? Most agents who offer policies other than terms would offer whole life or universal, mainly because it feeds them more money. Carrying a variety of products from everywhere does not necessarily mean that you will be able to help these people in needs. You know very well that all these companies have criteria to qualify for loans, and insurance, etc. If you would look at the policies closely most of these companies offer products such as accidental, critical illness which have huge requirements to be able to get the death claims. Regardless, your market are the rich people. We work for the middle class and eventually the poor (if they are open enough to accept Primerica concept). I would not stick with Primerica if not because of the concepts they have. Terms have lower commissions, why would these Primericans stay if not because of their passions to help people. I have been there working for those companies before. I could always go back, but prefer not too. The proof is there in Investment Executive, June 2009. Yes, this is only mutual funds, but it does have a lot of things to say about the company and how it works.

Kate u said it right! Your awesum! Good luck in you PFS career! I hope you help tons of people!

Oh AT i pity you all you have i guess but the look and sound of things you’ve been saying that your outa options…your only left with trying to recruit people on messages boards…well I guess your cool aids run dry since you cant afford it anymore so you switch to water..its free!

2007/07/15-characteristics-of-ideal-business.html

Cheers!

Oups I THOUGHT I WOULD NOT REPLY..damn now your gona spoil the worlds water supply!

Kate hear this. Not everyone who has left Primerica left to sell Perm. products. Have you ever heard any of Art Williams early speeches?
watch?v=jZNvaa6Z68c

You see after the kool-aid has lost it’s power some of us realized that this industry is a business. The goal of Primerica is to go to a clients home and leave them in a better financial situation than before they talked to them. Many of us who left wanted to be able to offer our clients some of the BEST products available and have the freedom to run our business as we see fit for us as an individual business person. Yes we do offer other carriers term products. Yes we do have the ability to offer Legal plans. Yes we do have the ability to use brokerage firms for LTC, Fixed/Indexed Products, Offer Mortgages and get other licenses if we see fit, Some of us just wanted freedom. Why would someone who is just looking to make some part-time income want to be in a captive situation. There are many different products that can be offered with a Life/health license.

It’s great you like PFS and the products. Now have you ever compared contracts with other organizations? You see your loyalty is to the company. As an independent agent I have no loyalty to any company. If one carrier is a better fit for my client, that’s who we go with. No one company can be all things to all people. Mark C. I don’t need your pity. I can do everything you can do for a client at Primerica, but you can’t do everything I can do outside of Primeica.

As for recruiting PFS agents, all I have to do is give them factual information and let them decide which is better for them. Refrigerator A, or Refrigerator B.

Kate says “Most agents who offer policies other than terms would offer whole life or universal, mainly because it feeds them more money.” Why do PFS agents have to pay for brochures? Why do PFS agents have to Pay to use software? why does PFS have a noncompete in the agent agreement? Why do agent have to give up legs to go to RVP? Why does PFS have a full-Time requirement at RVP? Why don’t agents under RVP not be paid renewals on some products? Do you know agents outside of PFS can sell LTC and be paid renewals? Do you know associates outside of PFS can sell legal plans and earn renewals and have ownership after a year. Then get this if the associate dies all that’s required to pas on the business is for the surviving spouse or whomever is to have a membership.

So Kate here’s a bit of homework to do. as we know going into any business we should have an exit plan. Ask your RVP if you left PFS today what would you be able to take with you. This is not about being pro or con PFS. It’s a straight business consideration.

As for the riders such as critical illiness or accidental death people can always just say no thank you. What about an increasing benefit rider? Why not just sell the correct face amount? You see today people just don’t die. Some times they will get sick or disabled. Has Primerica given you guys a disability policy to offer your clients yet? Do you know when people have a critical illness there are some cost health insurers may not pay? The policy will pay a lump sum which can help with other cost, medication or whatever. Let’s remember you stress BTID. Now let a major health issue come up and let’s see what happens to that side account. Accidental death is exactly what it is. Have you heard that only about 2-3% of term policies go to claim 2-3% of the time?

I have been in Primerica and I am now outside Primerica. Talk to anyone who has left and went independent and they will tell you it’s a whole different world. I have yet to hear of anyone going back.. No hype, just facts. For the right person Primerica is where they need to be. If you like it, stay there.

Let the cash value mindset go.

Kate,

Do you have to die to get paid on critical Illness. CI is a marvelous product. Your company is behind in times. Out of all the companies out there, Kate, your company should be pushing this. It is your market the middle class that is lacking health care. It is you market the middle class that has major financial setbacks when diagnosed suffer from a major medical condition. And you guys claim to be the only company helping the middle class. What a joke!

Kate do your homework on critical illness. This is the one product that can keep your flawed BTID concept in place should one suffer heart attack, stroke, kidney failure. You are the perfect person to sell this product. Why? Diagnosis of cancer is one of the claims that is paid out the most on. What kind of cancer? Breast cancer. You are missing out on a great product that can secure your clients financial goals.

Kate you are proving what many have said before that you guys aren’t knowledgeable on the other products in the industry. Accidental insurance, who sells that? I never seen an accidental death insurance agent. Maybe you mean they come in the mail. Consumers buy it because it is so cheap.

Due to the potential headaches that can come from telling the truth this is my last posting. I wish everyone the best. This doesn’t mean I won’t still be reading the post.

Answer this: NO!! Don’t stop! It helps me. If you’ve helped one person, then it was all worth it, right? Please don’t stop responding. I like your posts.

The difference between broke and success is effort and a NEED for a change but most people are afraid of change which is why most are broke. People are afraid of what they don’t know. So instead of being afraid and modest, naive, and losing your money, why not help a cause and do good in this world. That’s why i do it and I am successful. Because it is to help the middle market that might not survive the outcome of the economy when it gets strong. With the constant rise of inflation – and you are excited for a 3% raise at work – you are not making more – you are making less. WHy aren’t people uinderstanding this?!?!?!? I feel soory for the ones that are getting ripped off without knowing. And when banks screw people over becuase they dont care. Well Primerica cares. And we want to help the middle inclome families that may not be investing in their future, or properly insuring their lives so that they don’t leave their families behind with a monthly reminder of bills.
This is why. Be inspired by change. Don’t back down or shy away from it.