Two family members passed away within 3 weeks of each other leaving us to deal with 7 life insurance companies. It has been 8 weeks and Primerica has not paid the claim while the other 6 companies settled in less than 30 days.
It takes the claims adjuster about a week to open an email. We get as many as 3 requests by mail for the same information which they verify they received by email. Then after a week or more a request comes by mail for additional information. The adjuster never returns a call leaving the customer representative dealing with the customer.
Genuine, caring and respectful. I had no problem to collect the money from insurance in time. No harassment, no prejudice, but I had a case manager named Stacy who was able to get everything that I have to in time. Mostly was her voice which soothed my grief. Thanks again for helping a widow. PRIMERICA is very inclusive of all ages and gender and it has really shown through this pandemic when other companies were turning our seniors away they were inviting all to come along and get coverage.
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Find Life Insurance Companies partners near you. Overall Satisfaction Rating 5 stars. How do I know I can trust these reviews about Primerica? Meldyn of Colorado Springs, CO. Read full review. Amy of Warren, MI. What is Primerica? Primerica life insurance policies Primerica exclusively offers term life insurance and simplifies the process by providing only two plans: TermNow and Custom Advantage.
How much does Primerica cost? Primerica pays out most life insurance policies within two weeks of a claim submission. A small percentage of policies take longer than two weeks to pay out.
Does Primerica require a medical exam for life insurance? If you are not a people person this may not be the job for you. Pros Friendly and cooperative staff.
Cons Getting people to understand the importance of of leaving their loved ones an inheritance. Training sucks. You'll have to learn as you go. No support. This was a very stressful job, because you're dealing with people who expect you to know what you're doing, and you won't, at least until you figure it out. Pros My coworkers were very cool. Cons Everything else. Yes There are 2 helpful reviews 2 No. Still getting to know the position. Definitely interesting.
Pros Flexibility. Cons Taxes. You work more than they claim and you are not paid nearly enough. They through religion into everything and I know that pushes many people away. You are unable to make your own meetings due to their "training" meetings. Pros Work from home. Cons Under paid. Primerica offers a unique opportunity for people to educate consumers about financial services. While working for Primerica you will will be educated and trained to effectively assist consumers make educated decisions about their financial futures.
By developing a total comprehensive plan you will learn exactly where your clients are and where they want to be. You will easily gain their trust and and they will want to have you assist them in their financial journey.
You will be able to work at your own pace and schedule as many or few appointments as you desire. Pros Financial ecucation and unlimited earning potential. Cons You are not able to contact just anybody to offer your opportunity to them. You only move up if you recruit. Yes the pay is very good however it is all commission. No paid time off or benefits. You are considered self-employed so make sure you save money to pay taxes. Pros Good commission on each policy closed. Cons If they cancel, you will get a charge back.
Yes There are 4 helpful reviews 4 No There are 1 unhelpful reviews 1. This is not a full time job and although it is Life Insurance Sales, the focus in recruiting other agents is paramount. It is a part time endeavor that might prepare one for a full time position. Pros Friendly environment. Cons Poor pay straight commission. Really good place to work I just had to quit due to my school schedule. Nothing really I can complain about if you like working from home then you should definitely try to get in.
Pros Free lunches sometimes. When you apply, you can choose which plan you want. Because Custom Advantage plans have a more thorough underwriting process, these policies tend to be less expensive than TermNow policies. The TermNow policy is a rapid issue plan, which means you may be able to skip the medical exam and get coverage within a few minutes of applying and completing a health questionnaire.
With most insurance companies, you can add riders, also known as insurance endorsements , to your policy. Riders are additional benefits or enhancements added to your policy that typically increase your insurance premiums but provide extra coverage. Adding a rider to your life insurance policy allows you to customize your plan to address your family's specific concerns or needs.
Primerica allows you to add the following riders to your policy. When you apply for either a Custom Advantage or TermNow policy, you can add the child rider to get coverage for your child. The increasing benefit rider is automatically applied to your policy. Increases occur on your policy anniversary, beginning at the start of the second year. You can decline the increasing benefit rider.
However, if you decline any annual increase, all future increases will also be discontinued. If diagnosed with a terminal illness with a life expectancy of six months or less, you can use the terminal illness benefit rider to tap into your death benefit.
You can add the waiver of premium rider to your Custom Advantage or TermNow policy if you are under the age of With this rider, your premiums will be waived if you become completely and permanently disabled as diagnosed by a physician, and your policy will remain in force.
While most companies sell to customers through dedicated insurance agents or through their websites, Primerica utilizes a different business model. It has over , representatives who are independent contractors. Those representatives sell insurance products to their own personal networks and within their communities.
They earn commissions based on the sale of products and on qualifying product referrals. Because each representative is an independent contractor, the level of service and responsiveness can vary from person to person. You have to contact a Primerica representative to get quotes for its life insurance policies; you cannot get a quote online.
You can use the locator tool to find an agent near you. Thinking of becoming a Primerica insurance representative to boost your income? The complaint ratio reflects how many complaints a company received relative to its share of the market.
The national complaint index is 1. If a company has a complaint ratio below 1. By contrast, a complaint ratio over 1. Day 1 you are vested with your own book of business with all of your client's and then you will see the rewards of residual income in building a book of business, something you will never see in PFS or any other MLM IMO.
Finally, I am blessed in finding David as my mentor back in December David is a Diamond gem as it has taken me trials an errors since May to finding the my mentor who truly cares about me achieving my success. If you want to become a top producer it is very important that you find a mentor as it will propel you to your future success and reaching all of your dreams and goals, by working hard and having guidance along the way.
Every successful person in all walks of life if you study them will tell you they had a mentor and continue to have a mentor to assist in successes and in failure to reach the top. Again I am blessed to have David as my mentor and friend. I had the same recruitment experience with Primerica — you were spot on. I just got off a zoom meeting with a Primerica recruiter and he had me input my credit card info for the license fee. I have no doubt that i will get the reimbursement for it, as many places online state this in their reviews but I am very concerned with the fact that I was essentially pushed into signing on to being a recruiter when I am pretty bad with getting people to buy things.
Is it worth it to stick around to get my license for selling insurance and then leaving for individual work? Or should I ask my credit card company to cancel the charge and go ahead and cancel my account? I thought I was just in an interview but i ended up with a weird commission job…it leaves me with bad vibes. Hi David interesting article, you bring a lot of valid points about Primerica, however as a representative of 6 years.
I must tell you that I find the concept of selling elderly people just enough money to get buried thoroughly unscrupulous. Not that your motives aren't pure as indeed we all hope they are. My goal personally when I was recruited was to help people avoid the same pitfalls that troubled my own family.
Thanks Chris. Can you explain why helping seniors with affordable burial insurance so family doesn't have to pay out of pocket is, in your words, "thoroughly unscrupulous? Very interesting article.
I just had and interview with Primerica and there were a ton of red flags. When I told him that I needed to think things over, he seemed irritated. Hey I was invited to join Primerica recently but now that I have read your article about am stuck in between now..
Thanks for this article! I joined Primerica a few months ago, truly interested in helping families with their insurance needs. However, only after one week, I realized that emphasis was more on recruitment giving my upline my contacts and family members names than learning about the product.
I started feeling like I had made a mistake, as I was trying to learn and pass my licensing course, which was my main goal. Just before my 30 day deadline to get my money back, I quit. No trainings about the insurance products, but focused on recruitment only. Glad I am out of Primerica. This guy barely knows about the Company. He uses another company to get people in his Company how to listen to someone who has never been in the company. I have friends in the company that are successful in the company.
Hi Mary, thanks for the comment. Just because you know of several agents that are successful, doesn't mean it's a great choice for every agent considering joining. That's the purpose of this article: to give potential agents considering Primerica some additional points to think about before making their decision to join. What's wrong with that? Actually Mary, MLM is like asking McDonald's staff to pay for the cooking oil and utilities used to make french fries, as well as paying for the lease on their building, while also suggesting that consuming their own fries is the path to financial freedom.
David, honselty even though I dont work for you, I do read up on your articles, I loved the article specifically about bankers life and honselty myself, I did back out of it after knowing what process they use with the cold calling, I did go with primerica for now based on your article and based on the interview I recently had with them.
Later on down the road if things don't pan out you may expect a call for me, ive looked a tons of info for different companies and I always thank you so much for your in detail descriptions of what you've gone through. With captive agencies like primerica and the hart group, they do make the start easy for at least gaining experience and just getting comfortable with selling in general, they do make it even easier by providing you with free leads to call yourself.
They do promise they are direct leads and not cold calling, but after I get a few sales in myself and see what this game is all about, one day id love to give you a call and talk some business about me possibly joining on your team. Hope you have a great and everyone who sees this, I wish you luck on the sales guys. Oh and last thing, David, if you can tell me how the numbers change has been in insurance since covid start in vs the start of this , that would be cool.
Hi Jose! Hi David, I agree with many other respondents I didn't read them all that this is a very interesting article. Full disclosure, I have been with Primerica since and have been in the business longer than you. I am also securities licensed and have been since Therefore my opinion will be somewhat bias but also a testimony to the potential success. Primerica does emphasize recruiting and passive income. That is what you are doing as well.
If you were to research the reason why the company was founded as a term Insurance only company you would find that the founders truly believe that Whole Life has its downfalls in the long term and Universal Life is a dangerous product. Additionally, Primerica does not target the "Senior Market" so making that a talking point seems a little misdirection. Much of the training issues, etc. My agents definitely know products as well as the sales process.
I understand that there are bad apples in the barrel but not all of us are and we can be successful as professionals. Just my thoughts. Thank you. Hi Eli, thanks so much for your contribution, and congratulations on achieving RVP. For most of the organizations I review, the issue with training usually comes down to the local office or direct upline the agent is affiliated with.
In other words, who you work with makes a huge difference. I had weird experience with Primerica. I was very seriously considering it. However, when I started asking legit questions the representative completely quit communicating with me, and what questions were answered were always vague responses.
There was a "deadline" to enroll to get a certain "deal" off of the joining fee's which they claim are just for your background check. Anyhow I decided rushing into something was a bad idea and when I didn't jump to sign by Feb 1 she was done with me I guess.
They are offering you a business opportunity as an agent on their platform. Why not be forthcoming with that? Why lie and act like you're presenting a job opportunity vs a business opportunity. For me the was my first red flag, my second red flag was they called themselves Arrizon in the presentation and didn't mention Primerica once, but I continued on to see what it was about.
It was my own research that connect the two, I literally had to ask my reps if they were Primerica. I had set through a Primerica presentation about 20 years ago and decided no then but I had since changed so why not hear it out, I thought, and so I let it continue. I told her a warm lead marketing style would not be a good fit for me but she continued to try to sell me on the idea. So I did some research, started asking questions, and then as I mentioned above the representative just stopped communicating with me.
It may very well be working for some people but I was lied to twice right off the bat. I personally can't support that type of business model. Naturally it feels scammy, I'm not sure how agents don't see that but I guess they are taught to believe in this dishonest, unforthcoming business model. The only good that came from it, is it prompted me to start doing research into insurance sales and what type of company I want to work for and or build an agency with.
I want them to be comfortable and SURE. If this were not the case I would not be setting them up for success. However with Primerica it didn't feel, in the case of the agent I was working with, that she cared anything about my success or if I was a good fit, she just wanted to get me signed and signed fast.
This has not been the case with Duford or a few other agencies I have been researching. They are not pushing me, they are not giving me a deadline, they seem very open to my questions and actually encourage them.
Up front and honest. I am still researching the best fit for but Primerica was the first to be cut! Thanks for your detailed comment, Pixie. I really appreciate it and so do those who are in the middle of doing due diligence. The Good: Primerica let me get licensed part-time while in the Navy, learn about the industry from the inside, and meet the gentleman who helped me in the intermediate steps to where I am today. The Bad: Dave was charitable in his discussion of Primerica's balance between recruiting and training you for insurance sales as a well-rounded professional from my experience.
My experience, and experience of more recent "Primerica refuges" I've talked with is it's recruit first, second and third and then minimal time given to anything more than very basic insurance training, plus a very broad portfolio of other products including variable annuities a very complex, risky, fee laden product NOT to be sold or recommended by new and inexperienced agents imo.
Also, at least when I was a Primerica agent, you had to "give your upline" your most productive leg-in an MLM focused business. What kind of long-term culture do YOU think that creates? My recommendation: If you are an MLM person and love recruiting, maybe find a different type of MLM with less licensing and complexity and build a huge network.
Dave provides a good service here objectively covering a number of well-known agencies, and there are other growing companies like my current one that treat the clients with respect, allow you to build an agency if you want to or just personally produce. Best wishes for success! I just signed up with primerica 30 days ago and was told leads would be provided. Most top teams are couples. I really thought my training appointments were for me to gain knowledge. Yes it is but, its to offer our products or business to family and friends.
Know my understanding is I have to build business partners get 15 family and friends contact info and thats how I get my sales. I was explained you can make per a sell up to around there. In order to do that you schedule 8 to 10 appointments a week which take 1 to 2 hours and you may only get one sell. I dont want to sell to family or friends.
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.
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