Primerica - Opinions??

[harisk23]

You dont need past experience in primerica because you learn everything there from people who been doing it for a long time plus if u dont know what your doing you are not passing the state test cuz it aint easy and u,cant just guess

[Angio333]

You dont need past experience in primerica because you learn everything there from people who been doing it for a long time plus if u dont know what your doing you are not passing the state test cuz it aint easy and u,cant just guess

There is more to financial planning than term life insurance and extremely loaded mutual funds. The load on their mutual funds are way to high.

[Robert742]

There is more to financial planning than term life insurance and extremely loaded mutual funds. The load on their mutual funds are way to high.

Well said. And Primerica's term life insurance is not competitively priced, either. Primerica discourages any training outside what they offer. I'm not a fan of using financial planners, but Primerica reps even more so.

[carsonc29]

remarks

I'd be carefule. I've known people who do this and even one of the guys here at work does this on the side. They are really just selling their product and it's pretty close to being a MLM plan. A REAL financial planner has a list of options and different companies and has the knowledge to say....you know this really isn't for you at this point in your life. I really think all Primerica does is try to push their products. Yes, they can help, but the people really don't know anymore than they have been told and are just learning as they go. It's not that they after bad product, but really you should be able to find something better if you looked. Plus the person taking all the information just gives it to someone else who puts it a computer and it spits out the best solution for you. Is just glorified sales in my opinion and you can find just as good if not better out there.

Oh, and because it's a MLM, once you've refinanced, or purchased their life insurance, they want you to jump on the bandwagon and start selling too. Then they want you to give referalls and talk to your family and friends...blah...blah...blah.....

No thanks!!!

as far as the referrals part of your comment..that is something that is very common place, especially with anyone in financial services..financial planners dont just spent their whole day walkin around talkin to random people..besides, if someone did a good job helpin out a friend of family memeber of mine, why would they not want to refer me?

[carsonc29]

Well said. And Primerica's term life insurance is not competitively priced, either. Primerica discourages any training outside what they offer. I'm not a fan of using financial planners, but Primerica reps even more so.

price is only most important in the absense of value..you mention the price of primerica term, but do you know what features it has?

[carsonc29]

My term life insrance is with them and I am getting a good price.

There mutual funds are loaded and are very expensive.

They are a MLM company so the financial planner has to recruit in addition to selling products. His pay is 100% commisison and his commisison rate is depended on how many people he recruited.

the commision rate is similar to how real estate brokers get paid..the more agents the broker has in his organization, the more passive income they are gonna make..same in primerica

[carsonc29]

There is more to financial planning than term life insurance and extremely loaded mutual funds. The load on their mutual funds are way to high.

anyone, (including primerica reps) with a series 6 and 63, can sell and offer more than simply mutual funds

[carsonc29]

Stay AWAY from A.L. Williams offspring Prmerica. They are certainly more reputable than they were but their insurance contracts at times require an advanced calculus degree adn knowledge of dead languages to decipher and their mutual fund costs are very high. They depend entirely on network marketing. They recruit you to sell and if/when you fail they talke you clients and client list you had to turn in. So if you fail they so well by you selling and if you fail or quit you provided them with free leads. While they may have some great agents they are often mechanic by day and finacial planner by night. No offense to mechanics but I prefer they tune up my car not my retirement portfolio.

i think this is often a misunderstanding to what primerica does..the reps do not personally handle the accounts, make/recommend trades..they just market high quality products for other comapmies who do, like franklin templton,lincoln financial ect....

[Petunia 100]

i think this is often a misunderstanding to what primerica does..the reps do not personally handle the accounts, make/recommend trades..they just market high quality products for other comapmies who do, like franklin templton,lincoln financial ect....

High cost does not equal high quality. In fact, in investing, the exact opposite is true.

Morningstar Free Smartpage | News

[Petunia 100]

the commision rate is similar to how real estate brokers get paid..the more agents the broker has in his organization, the more passive income they are gonna make..same in primerica

Sure. As a consumer, I prefer to buy life insurance direct from the provider, eliminate the middleman, and keep the fat commission for myself.

[snafu]

If you wish to buy life insurance, I suggest you contact a sales agent with the firm used by your employer as a starting point for personal, unrelated life insurance. It will make a good comparative.

One of the best comparatives for Mutual Funds are the products offered by Vanguard many of which are in the top quartile and offer the lowest management fees [MER]. Those fees are often critical to substantively increasing the value of your holdings over the long run.