About Primerica Financial Services
Primerica Financial Services is a company with a mission to help underserved communities gain access to top level investment and insurance products. They provide financial education and sell products through a network of individual associates.
This business opportunity allows those interested in finance a chance to make a supplemental income by sharing Primerica solutions with their networks and communities. The company has been in business since the late 70s and has steadily grown throughout the years.
Their motto has been to focus on Main Street, and help those families address their needs. Whether that may be building wealth, protecting their savings, or investing for the future.
Products and Services:
Through their network Primerica offers the following services:
- Term Insurance
- Debt Solutions
- Auto & Home
- Long Term Care
- Legal Protection
Their process starts with a Financial Needs Analysis (FNA) - this complimentary service helps you identify your most pressing needs and learn where you are most exposed.
Primerica specializes in Term Life Insurance and has been selling this product since 1977. According to their website their insurance division:
Pays an average of $3.5 million in benefit claims every day
94% of claims are paid within 14 days
More than $728 billion of life insurance in force
Rated A+ (Superior) by A.M. Best
From the investment standpoint they provide mutual funds, managed investments, Annuities, and retirement plans. They are partnered with some of the largest companies and can sell funds from such major players as Fidelity Advisor Funds, Franklin Templeton Investments, and AIG.
Primerica Business Opportunity:
What you get from the Primerica business opportunity is a chance to enter the financial services industry without any prior experience or qualifications. They provide the necessary tools and training needed for success.
If you join Primerica you will receive training in the sales of financial items such as life insurance, mutual funds, variable annuities, various loans, and legal services. The introductory cost for joining the company is only one hundred dollars followed by the monthly Primerica Online fee of $28.00.
Throughout the years Primerica has been integrating the latest technology in order to provide their representatives with all the tools necessary to earn money and help their clients. For Instance since 2005 Primerica Life agents have been issued electronic handhelds that let them get insurance quotes on the spot and fill out applications without paper.
Income differs per independent contractor and depends on your grasp of the materials and ability to set appointments and close clients.
Primerica discloses their payouts to its representatives and from January 1 through December 31, 2016, paid an average of $6,088 per life licensed representative.
There has been some controversy over the recruitment practices of some Primerica Financial Services representatives. However, this kind of recruitment activity was limited to a few bad apples and is strongly prohibited by Primerica's policies.
Primerica Financial Services has also maintained a solid reputation with the Better Business Bureau, successfully resolving the majority of its few complaints.
Some people are ready to call Primerica a scam simply because it's a multi level marketing organization. There have been accusations made regarding whether the real focus of the business opportunity is to sell product or to recruit more people.
As with most direct sales companies there are mixed reviews and in the end you have to decide for yourself if this is the type of business model for you.
Competitors and Alternatives:
There are a few companies that use this hybrid model of recruiting independent associates to market and sell financial products, most notably the World Financial Group.
If you are a customer of Primerica or are an active associate please leave a detailed review below describing your experience with the company.
95 ‘Primerica Financial Services’ Reviews
I'm not sure what's going on here. I recently graduated from law school and was stunned to discover that I know nothing about money. It was crucial for me to acquire financial knowledge about my money. getting 2-3% wasn't going to cut it. In short, I don't see how you lose. Should you chose not to work for primerica you still obtain valuable financial knowledge and trust me...they don't teach that in law school
This all I can say about the company PRIMERICA , it is the last honest and transparent company left. the reason why a lot of people quit PRIMERICA or they said that PRIMERICA didn't work for them or PRIMERICA is a scam or the only way you can make "MONEY" is via recruitment , a lot of people failed, did really know the purpose of the company, or they are in it for the wrong reasons.. In any kinda of business or a job there are many obstacles and hurdles, and most people just quit because they are afraid to fail... Compared to successful people failure is a key part of becoming successful. Remember the difference between success and failure is very small, so in turn majority of the people have fear or won't risk becoming a failure because it hurts and hurts a lot, but people who seeks victory, and success will fail, will fail, will fail, will fail and then finally they find success , they figured it out that success is trial, after trial and after trial then with the knowledge they gained from failures and trials, they suddenly made a road map, the right direction for success ..
PRIMERICA: So far so good! I was recently recruited and will be willing to come back in a few weeks and than a few months to give my input on the statement Scam or Legit? I am aware after 25 hard years in this great country of ours feeling the trend of respect and honesty in a down hill spiral in business and the employment field. But, I have faith things can turn around if we all start rowing the same direction, building the construction crew and eliminating the demolition crew! I am newly recruited and am about ready to pay for my upfront fee, which I am receiving at half the rate, $99.00. I was promised a bonus of $500.00 during training if I earn it by hit the mark at each level. I am assured that all licensing and training certificates are free. I have attended one recruit meeting and I did not get sparks but seemed legit and sincere. The local office they had stationed in my residential location was one that wasshut down do to some unethical practice and recruitment of that particular Broker for that office. I can't wait to see where this leads! If ist good I will share that if bad, I will rally against it! Stepping out in Faith.
The problem with PFS is that the "consultants" don't care about forming a long term relationship with their clients. All this talk about taking care of people is BS. Do the PFS guys call you whrn the market is correcting? Do they even know if the merket is correcting as most are part time and there is such a high turnover rate, those inheriting your accounts do not even take the time to give you a call. You get what you pay for in life and if you go with PFS, good luck having a consutant for very long
I recently joined Primerica and to be honest some people I know will automatically think "Eugh this is a scam or one of those pyramids" I believe this company can help those who are open minded and hard workers succeed. I never go with what people have to say when is negative comments if they most likely haven't even tried it. Or probably tried it and gave up to soon. There's too much ignorance from people that will hate other people actually succeed. Like I said before this business is not for everyone period, I believe is for those with an open mind who like to learn different things. Funny to read some of these pathetic negative comments from "why would yopu pay 99 dollars to join" well hello I rather pay 99 dollars then to get more in debt with trying to get another student loan to get a career. You can be a nurse, teacher, doctor, lawyer ect.... But have any of you ask hoe much in debt you guys will actually be. I mean common sense whats better to be debt free or be in debt all your life??? Makes perfect sense right?? Therefore, before bad mouthing something some of you guys haven't event tried do some research and stop acting so ignorant.