December 13, 2007, 7:00 am

A Response From a Primerica Agent Part 2

by: The Financial Blogger    Category: Primerica Series
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Following unto Michael’s response about my Primerica Series, here is a repost of his comment on my blog. I think it deserved full attention of my readers. Once again, thank you Michael for letting us know about your side of the coin.

I have responded once before and wanted to take this opportunity to share some history about the Primerica phenomenon.

When Primerica first emerged, it was under a different name….it was called A.L. Williams. Art Williams, a high school coach, began selling TERM Insurance and MUTUAL FUNDS.

His logic was simple:

(1) Whole Life Insurance is simply a bundled product, composed of a decreasing term policy linked to a savings component I will refer to Whole Life and its cousins now as CASH VALUE POLICIES

(2) Cash Value Policies, on a cost per thousand, are much more expensive than Term Inisurance

(3) Cash Value Policies are difficult to understand and most traditional life insurance agents cannot tell you how much of your premium dollars go the the life insurance component and how much goes to the savings component. Remember, MOST Life Insurance agents were NOT college educated in finance and economics. What they learned about insurance they learned from the Insurance Company that hired them

(4) The rate of return on the savings component is extremely low. According to a Federal Trade Commission study conducted in the 1970s, the rate of return was less than 2 percent!

(5) In most cases, when a person who owns Whole Life dies, his beneficiaries receive only the face amount of the policy, NOT the savings!!

(6) If you take out the savings while the policy is in force, you either have to borrow the money (that’s cute…you borrow your own money) or if you take out all the savings, the insurance company reserves the right to cancel your policy. You don’t have to believe me, just READ the policy and examine its provisions.

(7) His conclusion?

Have people purchase TERM insurance so that they could afford adequate coverage

Have people invest in mutual funds to satisfy their retirement needs because historically they have provided a much higher return than insurance policies.

As another advantage, IF the policy owner dies, his family receive his insurance AND investments.

He called this concept “Buy Term and Invest the Difference!” The concept had actually been around for a long time. Art Williams simply adopted it and put it into practice.

How did the life insurance industry react? Attack after attack after attack. The little dirty secret was out. Primerica revealed that the industry was focused on selling its most expensive product (Whole Life) to make profits rather than to provide benefits to its policy owners. Sure, they could sell term, but they instead pushed whole life policies as “investments.” But Primerica kept forging ahead. As more and more people became financially literate, they began to question the practices of the once revered insurance companies. The people began to act.

In the 1990s several of the industry’s top companies were facing class action suits for parading Life Insurance as an investment. Prudential, MetLife, and many others were stung and forced to pay liabilities to customers.

The industry never forgot Primerica and continued to attack her with a vengeance. The company was excoriated and its representatives impugned. Rumor and innuendo about Primerica was rampant. The way we were protrayed you would have thought that behind each of our names were the numbers, 666!

As Primerica grew, so did the logic and wisdom of its message. But Term Insurance and invest in mutual funds! Now most financial planners worth their salt parrot the same mantra, as do respected magazines such as Consumer Reports, Forbes, Money, and many others. The revolution Primerica launched continues to evolve today. And that is good for the average Joe out there.

Having witnessed attacks against Primerica for fifteen years, I realize there will always be detractors out there and that we will never reach them. I do wonder, however, why you don’t see the same against the so-called traditional insurance companies. It leads me to believe that most of the posts and complaints I have read over the last decade and a half come not from John Q. Citizen, but traditional life insurance agents and their proxies.
Much of the rest come from people who embrace every conspiracy they hear and simply repeat what they read….

Primerica is a MLM company
Primerica is a pyramid scheme
The representative who work for Primerica are evil and ignorant, they don’t know what they are selling
The representatives are not “professional”
Primerica is about to go bankrupt

Goodness, the list goes on for infinity. Despite all this tired diatribe, Primerica continues to be the largest and most successful marketing company on earth.

Let me pose a question to you as an average Joe. The large insurance companies can sell Term just like us. Why do you suppose they opt to sell you their most expensive product (Whole Life)? You got it. To make more money.

Now the follow up question. If the agent sold you his most expensive product, did he do it to benefit your family, or his?

Your ponder those questions and think with logic rather than emotion. As for the life insurance agents, I really don’t care about your opinions. I have sat across the table with whole life agents with clients to debate which type of insurance is best for the client. Wanna guess who won?

I am not an arrogant snob. I am open to different perspectives and understand that NO company is perfect. By the way, NO client is perfect either.

But, I have met a lot of arrogant life insurance agents working for the major firms who spend more time on the golf course while their underpaid secretaries do the work than they do in front of families.

We at Primerica make a heck of a lot less on an insurance commission than the traditional whole life guy. But we are eager to help people and will visit them multiple times to satisfy them and provide the most professional advice we can offer. We don’t have secretaries, we don’t demand you come to our office, we don’t wear costumes (starched shirts and $80.00 ties) to impress you with how we dress.

What we do is offer you, free of charge, the most important thing a person has, and that is his time. AS for our expertise, we have the same credentials that the other guys have, and probably a lot more.

Those of us who have been around for awhile are seasoned, well trained and extremely motivated. We truly enjoy seeing people improve their lives and stick to the old creed, “Give people what they want and you will get what you want.”

Thank you for your time,


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I believe in term insurance and always provide my clients with term insurance to cover their TEMPORARY NEEDS! term insurance can not be used to cover permanent needs, such as tax planning, estate equalization, charitable giving etc…… would be ridiculous to use term insurance to cover a need 40 years down the line………the renewal rates will take away from any savings you may have had from the short term. We use term insurance in planning to cover mortgage, loans etc…….you never know when the client dies and when they’ll need it.
you dnt have to use whole life for permanent you can use term 100 coverage which covers the client up to age 100 well beyond life expectancy and if they client is still alive you will get the facevalue so either way it pays out. there are also permanent coverages that offer all your premiums back after a certain period (10 or 20 years) sometimes clients use these to protect their temporary needs and than ask for premium return, although it does cost more, it is a great option if you have enough cashflow

by: sadly wrong | January 17th, 2009 (5:53 am)

I am a 2nd generation Financial Planner in the 3th year of my practice, I do not intend to insult the person who wrote this, however I must point out the danger of the practices of Primerica, and the falsities of the information above. I will preface this by saying; I spend $3,000 every single year on schooling in order to be as relevant to my client base as possible. I am an independent broker so what I learned was not propaganda from the closed house operation that hired me. To the point

“Buy term and invest the difference” is possibly one of the most destructive financial tag lines in history. It’s up there with “The Margin Loan”. Why? Because that strategy is effective for very few people, and of that group, very few people in that very small group are targeted by primerica. As primerica targets younger, lower income individuals, the majority of people haven’t the slightest chance to self insure properly. And in the event of the lofty primerican dream being fulfilled, they would find that the slogan they have lived by to get there is completely inapplicable. They would then have to call me.
The concepts put forth regarding Whole Life Insurance are more than 35 years out of date. I fear primerica Employees nationwide would leave their desks and never come back if they truly understood whole life and how to correctly use it. Unfortunately there is no way for the average employee to learn more than is approved by primerica as it would destabilize the multi level structure the company relies on. The concept of multi level marketing which primerica uses is similar in many facets of cults.
• Charismatic leadership
• Deception in recruiting
• Use of thought-reform methods
• Isolation (physical and/or psychological)
• Demand for absolute, unquestioning devotion and loyalty
• Sharp, unsurpassable distinction between “us” and “them”
• “Inside language” that only members fully understand
• Strict control over members’ daily routines
While not a 1 for 1 copy of the induction of recruits into primerica we must admit similarities.
“We strive to prove our greatest belief system true”. We find the same patterns in religion. As such, it is not that primerica employees have a lack of knowledge. It is that they do not have objective knowledge of their industry or ideals.
I will say I do not think MLM’ are evil, however they can be extremely dangerous in areas where precision, skill, objective knowledge, economic awareness, and Foresight are imperative. By the same logic would you consent to have a surgeon work on you that had just been hired by the hospital, had no relevant medical training or background and insisted on using surgical tools and methods from 1970(they hadn’t even developed a vaccine for cholera yet) And they think that you would be perfect for this line of work and were wondering if you would like to attend an overview session following your surgery to learn more????
Primerica has an annual turnover rate of about 100%, with about 100,000 recruits coming and going in any given year. I would warn anyone against any company whose retention rate is so low. Furthermore you do not run a business of your own as they lead you to believe. If you were, you could not be fired (Also the book business is not vested to the employee).

Hey sadly my ass…

You are just and unintelligent fool who just rambling around and crying like a whimp in a corner because Primeicans kicked your sorry ass left and right and center and replace your crappy whole life crap policies because all client that i show the difference instantly want to beat the living crap out of their whole life agents for not thourougly explaining what they signed up for and got ripped of with thousands of their hard earned dollars to schmucks like you!!! So don’t try to giv us you moronic lecture about how Primerica is not good and what they offer is not good…what a joke can’t even use ur rea l name..i wonder…so save your breath and dont waste any more of my time on ur sorry ass!!


by: Answer This | February 25th, 2009 (6:16 pm)

Mark C. if you are a Primerica agent remember you do represent the company. You go off on whole life and don’t consider that RR is talking about term. When you offer one product you lean toward sales. When you offer more than one product you lean toward concepts.

When all else fails call names and revert to whole life. To me that looks like the PFS way. Also to RR I tried to answer your question, but it didn’t make it past he mod.

Let me just say one organization I contract with is HBW Insurance & Financial Services. I also am contracted with another IMO and directly with one carrier other life/disability carrier. Along with Pre-Paid Legal and a Discount dental company. (no not Ameriplan)

by: sadly wrong | February 27th, 2009 (5:24 am)

To be frank, Mark C.

I am talking about exactly the opposite. In the past months I have been the one to pick up the pieces of shoddy primerica planning.

I think at its core, primerica intends well. Whole life insurance if set up incorrectly is of no benefit to the client. I do not promote the practice. However, a properly set up whole life plan will blow the doors off of anything a primerica agent could even hope to propose. Especially when taking canadas personal and corporate tax law into account. If you don’t believe me run the numbers.

I have begun to realize that the primerica responses to these blogs have been less and less intelligent as time goes on. I suggest doing homework on these subjects before blurting out something that exposes your knowledge base.

“In law, defamation (also called calumny, libel, slander, and vilification) is the communication of a statement that makes a false claim, expressly stated or implied to be factual, that may give an individual, business, product, group, government or nation a negative image. Slander refers to a malicious, false and defamatory spoken statement or report, while libel refers to any other form of communication such as written words or images. Most jurisdictions allow legal actions, civil and/or criminal, to deter various kinds of defamation and retaliate against groundless criticism.”

Please do not slander our company. We understand you have to feed your children selling your products.

Hey Al,
I’m not slandering anybody. Everybody is free to leave his opinion on any post of this series.
Hope you still enjoyed your visit on my blog!


Huh Sadly wrong..just because you got your hot shot scholarship..dat you dont have to flaunt all around just to giv u credibility..doesnt mean someone who never had a backgroung in finance isn’t smart enough of qualified enough to be your equal. Maybe you dont personaly sell WL but give a “well planned WL” is much better..HA dont giv me dat! If you buy term and get a bigger coveraga to meet all your obligation needs and invest the difference in an investment vehicule that earns a higher yielding rate than a cash value account..I think tha clients are better off…because when they retire they need more the money than an insurance policy…it suppose to be their golden years, they’re suppose to enjoy their money and not “ouuu i have permanent life insurance that i have to wait for and give it as a gift to my GROWN children when i die”

Listen i have seen thousands of policies and u maybe the only “just agent that doesnt work for primerica dat say he does good. But your guys are trying to compare agents…t not the companies tell me if you look around is their any other company that has rea;;y believes in what their selling the right things putting the clients interest first before their own. i think not.. Anyways why such a contreversy about our company huh mr. TFB..maybe because where takling aways more and more of your market share and educatin your clients more that you did…dont u have term..why is it I see more WHOLE LIfes and Universal life policies out their if you really have better Term rates plan then we do answer me that!


by: sadly wrong | March 10th, 2009 (12:36 pm)

Marc C.

I have a question, how long have you been in the financial services market? How many different concepts have you been taught?

I ask this because of your statement:
“Maybe you dont personaly sell WL but give a “well planned WL” is much better..HA dont giv me dat! If you buy term and get a bigger coveraga to meet all your obligation needs and invest the difference in an investment vehicule that earns a higher yielding rate than a cash value account..I think tha clients are better off…because when they retire they need more the money than an insurance policy”

The problem with your Huge and Only paintbrush, is times like these. What are your clients net returns in the last 3 years? How are their retirement funds projecting? Something tells me you have never actually seen a client through to retirement. You know what people want when they are 80+ years old? Insurance! why? because that is the cheapest way to look after their estate and all tax implications, as well as children’s inheritance, while bypassing probate, taxation, and avoiding Will contest.

The reason you see more UL’s and WL’s out there than term, is because term is a horrible rip off. Do you know the claim statistics for Term insurance? less than 3%.

Please explain to me then what rate of return you illustrate to your clients, to make them think they can properly retire and self insure???

The primerican belief that they are the only ones educating their clients is also really starting to get to me. What are you even talking about? Confused people don’t buy, so of course any half decent advisor must educate the client before making a sale. Unless your speaking of education as “you should come to primerica and come to meetings and get indoctrinated” Why on earth would I take the most successful housing developer in the city and try to recruit him??? Everyone is gifted in certain area’s, but not all area’s.

Everyone, including myself needs large amounts of education in this business. Unbiased education.

Your organization has failed to reinvent itself in the last 30 years, and has been pushing the same outdated and “wrong to begin with” planning since its inception. This is catching up to them

Its parent company is floundering:{E2E8D329-4A7F-47AC-928D-0A9D09171260}&dist=msr_12

Stealing the market share?? Where did you hear that? At one of your propaganda meetings? Because i highly doubt that it was from an objective reporter.

In closing I would say MLM’s are fine. But at least if I receive the wrong type of scented candle my retirement does not disappear.

Sadly u just dont seem to get it!

I have the same licences like you and I get the same training and education that you get so dont try to preach to the choire!
We will dominate the market because we are growing faster than any other life insurance company in the world. All they do is buy off smaller insurance companies just to stay afloat! Anyways your entitled to you opinion man okay! So let the facts show for themselves! Here’s a few link you’d care to check out and for others who are tuning in so that you get better sound information:

by: sadly wrong | March 19th, 2009 (5:09 am)

I don’t want this to turn into an argument. That is not what I intended. I simply wanted to state what we know as fact.

Marc c. I did watch some of those videos. Without going into a case study I will say that, Anything done incorrectly will not end well. I have tried to make this clear.

I as a financial advisor am not proud of the recruiting techniques and pressure sales techniques that have been employed in this business sector. Frankly, it has done much harm to many people. However most of this harm has come from poorly constructed multilevel marketing company’s.

Let me make one thing clear, you may have a similar license that allows you to operate in your given state/province, but do not insult me by saying we received the same education.

I know you have not run a comparative illustration of proper WL to term+investments, because you would not still be responding on this forum had you. I dont know if you caught this, but dave ramsey (first youtube post) talked about estate planning with term insurance…. Even you must realize how laughable that is.

Also, I would love to see the numbers that suggest your company’s massive growth. As this is an untruth, in that while the company is gaining new employees at a fast rate, it is also losing those employees at an equally fast rate. That is not growth, that is a grass fire.

Something that stuck out to me in all these videos is the demonizing of whole life insurance. I have said in the past whole life if set up incorrectly is dangerous. Moving on, one thing that people get so wrong is that insurance companies make most of their profit from term insurance not permanent insurance. Primerica still gets this wrong, claim stats are very low, along with the renewal rates making it impossible to keep long term.

Again I ask you, at what rate do you illustrate to make your clients believe they can retire and self insure? I know your client base as it is similar for most primericans. This does not compare well long term.

As a hammer can both build and destroy, so to can knowledge improperly applied. I know where you and your company are coming from. I have done the objective research. You do not know where I am coming from because you are on a witch hunt. Blindly following what you have been told. I perhaps, cannot help you. But i would have you serve as a warning to others thinking of venturing into this sector. It is not one to be dabbled with, it requires vast amounts of education to do properly, but is very rewarding when done right.

By simply listening to me you do yourself a disservice. Help yourself, do your own research.

Sad Wrong,

Before I joined the company my family first became a client and we withness and lived first hand what Primerica did for us and help change our lives so thats is why I believe in what they do so theres nothing more to be said about that PERIOD! Not sum blind loyalty your jabbering about ok so dont confuse yourself.

These links show that real truth out there of what the industry has done for sum time now and yet here your are still trying to discredit wat Primerica stands for! I dont see any other me one if you know that actually does the what Primerica does!! huh!

Neways Do your own research and know that if you invest in long term investments you will always outperform Cash Value insurance investments specially not that the returns in CV are mortality rates increase on UL / WL / VL insurance as clients get closer to their deaths and will likely eat up any little CV left in their policies!

Like they said insurance was never meant to be a permanent need..only until your responsibilites are over and you’ve become self-insured then you no longer need life insurance..because theres nothing left to insure… Plus CV when client try to take them out ..they become loans…WHAT IS THAT ALL ABOUT!!! WHAT A RIP OFF!!! and you get charge 6%o 8% or whatever the company decides to charge..from time to time…read your policies man its in the bloody contract!!! Why cant you pull out all your cash value..why only 75% or 90%…hmm I wonder..maybe your insurance coverage will be terminated..noooooo! thats not good!!! To top it all if you dont pay back the loan..#1 you pay interest on the balance compounding monthly or annually and upon the clients death..any un-paid loans or “indebtness” from your Cash value plus interest will be deducted from the death bennefit…THat is what you are defending…

PLEASE save your breath and do us all a favor just let your clients read their policies including you completely ..not just the first 1 or 2 pages…but the all the pages and they will see for themselves what kind of contract you are really trying to sell them with your sales pitch! Enjoy your high commissions as you rip off your clients hard earned money by selling expensive insurance while. being a broker you have access to many carriers thus you have no loyalties nor standards…selling term insurance gives agents less commissions while selling Whole life or Universal life or Variable life gives you 2 to 3 times more commissions thats why you sell them!! Bottome line..whatevers is best for your pocket!!

Have a nice day!


by: sadly wrong | March 23rd, 2009 (4:01 am)

Marc c…

I have implored you to stop proving your ignorance.

All I can say is that you have just explained how not to set up WL. It would take more education than is available to you, in order to set you straight. Thank you very much for copy and pasting the first pages of a poorly designed 1978 whole life contract into this forum. I cannot say it was informative.

I was overestimating you by suggesting you do your own research, as you clearly have no idea where to start, or end said homework. If you can believe it, I have a working knowledge of how wl and term works, and have done much comparative research into both sides.

You are wrong, and you have no idea how to set up a wl contract to work in the clients best interest. I have never, and do not intend on giving you an online seminar. So I will not, Your belief in something, no matter how fervent does not add to its legitimacy. I have gathered that you believe with all your heart in what you are doing…. it does not make it right. Until you have quit/been fire from primerica, you will not understand, because they do not want you to understand.

No you do not get any points for being able to read. That is, or at least should be a standard for primerica agents. I was being taught about this industry since I was nine years old, and it is very safe to say I understand more about this than you or your managers.

Thank you, for “Serving” me with your philistinism. Please avoid doing so in the future. For your own sake.

Excuse mister saddle wrongly…

I will not waste anymore of my valueable time on a self proclaimed looser, half witted, ignorant fool like yourself who has his nose so high up that your start bleeding all over your shirt and tie and try to look down on me PeLEASE!!

I havent used any fowl language so far so i will show great restraint and still maitain that YOU’ve JUST BEEN SERVED!!!AGAIN! Your trying to say that you can set up a whole life insurance properly..what oh umm let me see by telling your clients “It s a good way to invest..” or um let me see oh you can giv them a 20 year term convertible/renewable to meet all their current needs and expenses and combine it with a Whole life so that your coverd for life! Don’t give me that BS man your unintellingents sickens me to the core! Go back to your moms and suck on your tumb and cry like spoiled brat! if that makes you feel better! You sound like one of those tight-up spoiled rich brats from england!
Would you like a cup of tea!!

Sorry cant serve you there get it yourself for once in you sorry life! Try to stay professional and dont make iddle treats FOR YOUR OWN SAKE!

by: sadly wrong | March 25th, 2009 (3:02 pm)

You know Marc C,

Honestly, Im sorry. I have been a bit of a prick. This subject really gets under my skin because I have seen far too many people get hurt because of advice they recieved from primerica agents. The advice sounds good, and people love the opportunity they can grasp at.

The trouble comes when the advisor does not know the full implications of what they do. Forgive me if this sounds mean, But you must admit you do not know everything. If you do not know everything you must therefore conclude that the chance of being incorrect is inevitable. Not just for you, because no one knows everything.

I get ticked off about this because I have seen a lot of primerica plans, and they are all the same. No account for the clients specific needs. Because the client never gets educated fairly, they never know what happened.

I have tried to run my practice with the understanding that, the more knowledge I have, the less mistakes I make.

Primerica stands in stark contrast to that concept. By demonizing something, you cannot really understand it. Primerica agents are taught about the subject, but unfairly and unobjectively.

This is the point im trying to make. If you step back from your company and your loyalties, and take a look at the bigger picture… You find that anytime someone works for a company, they work for that company’s best interests. The company, by law of the monetary system, must do only that which proliferates itself. It is that single loyalty to profit, that is the poison. Even though the employees of the company think they are doing the right thing, they are being told what to do by said company, whose primary goal is to make profit. When those with direct profit interest control the education system, you can be absolutely certain that it is not even handed or objective.

This is not speculative nor does it only pertain to primerica. If we can accept this as truth of any company, we must aknowledge its flaws. Segregated education has always bred contempt. This is why we have wars, racial disputes, and religous zealots. That is the entirety of my issue, and I wish I would have made it clear without unsulting you.

by: Answer this | March 25th, 2009 (4:48 pm)

W.L. is designed to pay out at death. We all know as agents that guarantees cost money. BTID is a great concept, but what if the client doesn’t invest the difference and lives beyond the term guarantee? Have you ever looked at the renewal premiums of a term plan?

Sadly wrong I understand where some of the posters are coming from. Primerica had my mind once also. At first I blamed them and then later on I understood I was to blame. I learned never to give anyone or anything blind loyalty. The industry and the economy is constantly changing so education is a constant.

To the PFS reps. Here’s something to think about. Have you noticed that John Addison has been a speaker at many Pre-Paid Legal major events? Has Harland Stonecipher ever been the owner of Pre-paid Legal ever been a speaker at a PFS event? Here’s what I see. When Citi let’s PFS go, is there some sort of merger in the making between Pre-paid Legal and Primerica? This is all speculation, but for the past few years John Addison has become quite cozy with PPL.

Now as dor Suze Orman, consider this. She hates Variable Annuities. Do you have a V.A. that you offer clients?

Suze Orman term recommendations:

*** Nowhere is Primerica Life mentioned.

Dave Ramsey: term recommendations.

**Not Primerica.

Do you ever ask yourself why the people you promote say shop carriers???? Hmmmmmmm interesting….

Hey Sad,

Glad to see there another good person out there..I know sumtimes we all get caught up with our emotions in things we so strongly believe in and that is why we sumtimes say things we dont really mean to say man..its okay I understand and that is your life experience thats what makes!

I hope you understand we’re im coming from im still young and maybe you have more experience than me..but I am still learning..just like you we’re before..are we really all that different…and im willing to learn more so that i can do my very best to make a difference in peoples lives and leave my mark on this world…and thats is what important to me..for now that is my life experience..Primerica gave it to me…thats why im returning the good gesture and sharing the gift I received with my family and share it with others.

Listen I respect your perspective and your point of view..not one company is perfect and not everyone that works for those companies are good @ heart and always do the right thing…like the old saying goes..”there are always a few rotten apples around:… and that true for all companies. So understand that Im in my journey and my goal is not to sell life insurance or be a salesman for the rest of my life..I want to be a business owner..and earn my financial independents before i reach my 30s so that I can enjoy the rest of my life with my family, friends and clients as I build my Primerica business.

You know the true opportunity of Primerica is its distribution…thats why sum join to get rich quick..and so they fail..while others join for knowledge..and others to help others and make a difference…su to be salesmen/women and sum to build a business!

Answer this, I got you man..thats your experience..thats is not mine…we are not all meant to see the world in the same perspective and I know you understand that so if you believe in what you do I respect that. But I believe in what Primerica stands for because the person that help us thru Primerica really made a difference and impact in my family’s life..that something we can never forget. Remember its not the company you work for that sells most of the time..its YOU and how well you convey your message to your clients..If it makes common make sense..if you can back it up with logic then good for you!

Im glad we can finish this discussion on a good note fellows! Let me leave you all with sumthing I learn along the way…Your life will be determined by what you put most of your focus on..what is POSITIVE or on what is NEGATIVE..and that applies with all areas of your life.

On that note I wish you both the best of luck in your practice and God Bless you and your familes!

God Speed!

by: Answer This | March 27th, 2009 (10:11 am)

Hey Mark. I wish you the best also.

Thanks Answer this! Good debate from both sides!


by: The Financial Blogger | March 27th, 2009 (7:50 pm)

That’s what I like about my blog; everybody gets friends in the end 😉

thumbs up everyone!

by: On the Brink | April 30th, 2009 (10:29 am)

Answer This- how long were you with PFS? I’m curious. Did you become an RVP? Did you have experience with insurance before PFS? When was it that you decided “You know what, this is great, but it’s not for me.” How long did that take?

by: Answer This | May 1st, 2009 (2:36 pm)

I was at PFS tooo long. No I didn’t make it to RVP because I didn’t believe in the products at a certain point. I didn’t know of any alternative so i basically just kept my license active with PFS. The reason I don’t go into my history, because it can’t be verified. I can say I was an NSD and it can’t be proven or disapproved. My first experience with financial services was with PFS. I am very grateful from my experience with PFS, but with that being said after selling products to Family and friends and recruiting some people and defending Primerica on message boards i found out when i decided to leave the only one who had ANY emotional ties was me. What did it for me was the book “Who moved my cheese”

PFS sent me a letter basically saying thank you for your time and service, but don’t contact anyone (Clients and downline) for a period of 2 years. So now I look at this as a business. I have no emotional ties to any marketing organization or carrier. Something you might notice on some of the message boards is many PFS agents seem more loyal to the company than what’s in the best interest of their own family.

Here’s an example. Some agents know that the PFS policy cost more than what they can get elsewhere, which means a potential lower face amount due to policy cost and cost per 1000. So rather than possibly getting more coverage with the same amount of less Premium by going with another carrier do to their loyalty to PFS the may short change their own spouse and children…That’s where they throw out that price is only a consideration when there’s absence of value or something like that. I don’t think that would work when a death claim is paid and a client finds out they could have had more coverage elsewhere especially if it’s a family member or a spouse. I just couldn’t sell the products to family and friends anymore.

Run some quotes at Let me just say this. Due to reserve requirements some companies are raising their rates, but there’s still the issue of primerica dictating an agents income potential while the agent is part-time.

If someone is doing something on a part-time basis to earn extra income, why would they allow a company limit them unless they had no clue that they had other options. I’m not 100% sure about the options in Canada, but in the U.S., agents have many other options rather than PFS. They just don’t know about them.

Now as far as leaving PFS, let me say it was HARD. What caused me to leave was debating others on message boards. They came at me with facts and all I had to respond was hype and the cash value argument. Then someone offered me another contract. I went to my RVP to see if he/she would counter and they wouldn’ I left..(I was going to leave anyway) Once I discovered the freedom of being independent there is no way I could ever go back to being captive with PFS. Currently I have ownership of my recruits and clients from day one. If I decided to leave the current marketing organization i’m with and I could take my clients and downline with me if they wanted to go. Also I am contracted with other marketing organizations for other products. Here’s something that blew me away when I left. Let’s say a client wanted a specific carrier to buy from. In some states an agent can send in the client application and the agent contracting paperwork at the same time and the company at it’s desire can appoint the agent and issue the policy.

Basically for me it was about freedom to give my clients access to some of the best products and companies in the industry and have the ability to make as much as I feel is right for me. No matter what hype you hear, Primerica dictates the agents potential income. I’m not saying it’s a bad concept. I think it’s great for PFS, but in my opinion many agents just don’t know that there are other options. RVP’s and above have and are leaving the company. If they are at the positions everyone is reaching for and they leave at some point someone has to ask why?

As for the company. Currently PFS is for sale. How will that effect current agents? What about the agents contracts? Will PFS be wound down? As a business person how can people who do what’s right 100% of the time still recruit people to a company/business opportunity when the future is up in the air? Now let me aks you this we know recruiting drives sales. Is it in the best interest of primerica to tell the agents to curb their recruiting until the future of the company and it’s agents are on solid ground. If I were them and had their business model I would say recruit, recruit, recruit. I’m not saying it’s right or wrong, but when using a part-time sales force to move your products, the products have to be moved and new blood has to be constantly coming in the door. As I said it’s a business.

Most of this is covered in other post so I won’t go deep into it, but if people want to market with Primerica I wish them the best, just read and understand the contract. With any business people should have an exit plan also. If you leave PFS after selling products and building a team ( You buy brochures, pay for gas, train etc.) what can you take with you?

As I said before when you read this blog, you will notice when the PFS defenders get run into a corner they come out with the cash value argument when many if not all of us who post information in most cases sell term also. As independents we just have access to many other carriers. Who give us FREE brochures and software. it’s just information People can go back and do some research and if they find what we post is wrong, we stand corrected. Contrary to what many will say PFS is not a threat to our businesses…We can do everything a PFS agent can do and more, but they can’t per contract do what we as independent agents can do…

I am presently a Primerica agent. I have found the Primerica business model not useful to me. I am very interested in becoming an independent agent.

After a little more than a year and a half, my “warm market” froze over and I still had to keep my regular job. Also, the required “trainings” made me mental. They reminded me of something out of North Korea. Very little education, but loads of ra ra ra.

Don’t get me wrong. It might work for somebody, but I am not interested in the “crusade.” It’s just not me. I want to make the kind of money I have never made and this is just not working.

So, any hints at how a college guy with excellent reading and comprehension skills can break out into the world of Life Insurance free agency? I should tell you that I am actually more interested in annuities.

It was the search for financial freedom that brought me to Primerica. I am still looking.

Ok, there’s my pitch. Any books, websites, links, general info or personal advice will be greatly appreciated. This shout out applies to you too, FINANCIAL BLOGGER.

May the Force be with you,

by: TheRealFinancialPlanner | August 26th, 2015 (7:43 pm)

I don’t understand how any Primerica agent can refer to him/herself as a “planner.” When you are constraining your practice to term insurance and mutual funds, you are eliminating countless other financial vehicles and opportunities to truly formulate a comprehensive financial plan for your client. I keep reading rebuttals from Primerica agents arguing the buy term and invest the difference so the savings component in a permanent cash value policy isn’t “retained” by the insurance company upon the insured’s death. However, this completely ignores the fact that 99% of ALL issued term insurance policies NEVER result in a claim. They either lapse or the term expires before any death benefits can be collected…so where is the “value” in that sort of proposition? In such a case, 100% of the premiums paid are forfeited by the owner, never to be recovered. Term insurance is inherently designed to serve a TEMPORARY need to ensure financial stability if the insured’s premature death would otherwise cause his/her beneficiaries irreparable financial harm. Point is, term insurance is useful, but so too is permanent insurance for clients who want to enhance their estate value and truly leave a legacy for the next generation, regardless of when that time comes.