Primerica Financial, Ringgold, Tunnel Hill, Fort Oglethorpe, GA
You’ve been offered a position at Primerica. It looks like a proven system, but is it really a SCAM? Is this Primerica career opportunity really all that’s its cracked out to be? There are two sides to the answer — two sides most people would not expect.
Primerica as a company is legitimate, it truly does pay out what it claims both to the liscenced agent as well as to all the families that buy Primerica term-life insurance. Primerica is heavily favored as the ONLY life insurance any American should buy if their income bracket is between $50,000 to 100,000 by CNBC’s Suze Orman.
The home-based network marketing industry itself is supported and lauded by SUCCESSFUL BUSINESS MOGULS such as Richard Kiyosaki, Donald Trump, and Warren Buffet. When asked how they would re-create their MASSIVE success and wealth if they were to suddenly go bankrupt, both Trump and Buffet said that the first place they would go would be to the Home-Based Network Marketing Industry! Warren Buffet himself owns SEVEN of his own home-based businesses!
So the Primerica company itself is not a scam. What is?
The problem with Primerica is the way the company and its agents train NEW business owners just coming into the opportunity. Uplines generally will tell their new downlines to merely draw up a ‘warm market list’ of friends and family, and this will lead to an exponential amount of referrals. This tactic or strategy to creating a solid business is in itself a sort of scam because it SIMPLY DOES NOT WORK. A few months down the line, most new Primerica agents will end up with no more leads and a very annoyed sphere of friends and family. This is when most new agents drop out and label the opportunity to generate Financial Freedom as a scam.
Which is understandable. Without the proper TRAINING and EDUCATION on business principles and how to implement them with the most cutting-edge technology of our times, there is virtually NO WAY for a home-based business owner to achieve the success that she/he dreams of. Everyone who has had success in this industry kno
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As a subsidiary of Citigroup, Primerica markets first-rate financial products and services from some of the worlds more recognizable companies. Term Life Insurance Primerica Life Insurance Company Debt Consolidation Loans1,3 Citicorp Trust Bank, fsb Citicorp Home Mortgage Citibank, NA Mutual Fund Investments1 AGF Group of Funds American Funds Invesco Franklin Templeton Investments Legg Mason Partners Funds Pioneer Investments Primerica Concert Allocation Series Van Kampen Investments Auto …
Help answer the question about primerica life insurance company
Has anyone ever had life insurance with a company named primerica?I want to get life insurance on me and my 2 kids and they are really cheap and have a thing called a childed rider which i knew nothing about. But I have never heard of this company and just want to check it out.
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June 20th, 2009 at 3:49 am
Only agents from other companies will say Primerica is more expensive, but they fail to provide the facts and the benefits Primerica provide to their clients.
I own Primerica's life insurance 20 year term for 7 years now. I have $250k coverage with annual premium of $355 bought at age 40. Before that, I had a universal life policy of $100k coverage and annual premium of $1235 at age 30.
Expensive? You have to decide whether it is or not.
June 20th, 2009 at 4:29 am
Yyou should know that every company has something written bad about them. Why? Its because agents from these companies will tend to write bad things about their competitors so that they can keep people away. But if you were to talk to a Primerica client, you would understand what Primerica is able to do for families. What Primerica is able to do for families is so powerful, that no other company can come close to do what Primerica can do. They do parts of what Primerica does, but they don't provide the total solution. In fact, some companies don't even bother dealing with middle income families. The sad reality about middle income families is that many are drowning in debt, finding it difficult to save any money, and are worried about their retirement. Primerica provides solutions in all these areas.
I'm thankful to find Primerica and what they are able to do for me and my family. Our life has totally change for the better. I'm almost a few years away from paying my mortgage off, my retirement plan is on track to surpassing my financial independence number, and money is no longer an issue with me. While I still keep track on my spending, a little extra money to spend does help improve my quality of life.
I don't know if Primerica is for you or not for you. But if you take a look at what they are able to do for you, you would have nothing but good things to say about the company. I guarantee that if you were to speak to every 6 million+ clients in Primerica, you will hear lots of good things.
June 20th, 2009 at 5:44 am
As a Primerica Financial Service representative, here are the specifics of Primerica Life Insurance or National Benefit Life (if you live in New York) policies:
1) Husband, wife, and/or children are covered in one life policy. The child rider covers all children in your family.
Increase Benefit Rider is available.
2) Term policies are customized to your needs.
3) Banding coverage. This is where rate per thousand is determined by total coverage of the husband and wife (along with other usual factors such as age, height & weight, smoker or non smoker, health conditions). So the higher this banding coverage is, the less it cost per thousand coverage.
4) Terminal illness benefit included free of charge. In case you were diagnose to die within 12 months, you can use 40% of the face amount of the policy (up to a maximum of $250,000) to pay for your expenses.
5) Like all other life policies, waiver of premium is available.
6) Unlike other life policies that converts term into whole life or universal life at the end of the term (or even worse, cancel at the end of the term), Primerica's life policies are convertible into another term policy.
7) Guaranteed renewable term. If you wish to renew your term policy instead of exchanging it or canceling it, you can renew it without any medical checkups. When you renew, the new premiums remain level for another 5 years and continues until age 75. After age 75, premiums goes up every year to age 95
9) All Primerica's clients receives a customized, confidential, and complimentary Financial Needs Analysis (whether you buy their life insurance or not).
Primerica's rates has been reduced numerous times over the past 10 years. The last rate reduction happened in 2007, making Primerica's rates for term policies cheaper than Prudential, Metlife, and AIG. So you really have to get the final quotes from all the companies you are trying to get term insurance from. Don't trust the quotes online because they are only preliminary. Your final quote will be different than the quote online (hopefully its lower).
While premiums are a factor in deciding what company to go with, you also have to compare what's the difference between Primerica's term policies and the other companies term policies such as what are your options at the end of the term? What if you become terminally ill? Do they sell life policy per individual or per household?
You also have to compare the financial strengths of these companies. Primerica Life Insurance or National Benefit Life has an AM Best Rating of A+.
June 20th, 2009 at 8:30 am
The easiest way is to contact Primerica's customer service (1-800-257-4725).
As stated in your life policy, in order for you to cancel your life insurance policy, you need to send the request in writing and mail it to:
Primerica Life Insurance Company
3120 Breckinridge Blvd.
Duluth, Georgia 30099-0001
If you have already sent this letter couple months ago, then you should definitely contact customer service.
June 20th, 2009 at 12:31 pm
You can learn more about the company at http://www.primerica.com
In regards to life insurance, Primerica believes in selling one life policy for the whole family, not individual policies per person like other companies do. Having one policy means that there is only one policy fee and plus, if you and your spouse has coverage, you may get a rate discount (which is based on total coverage). Its similar to purchasing auto insurance. If you had multiple cars, you would insure all your cars in one policy and you get discounts as well.
The child rider is a feature in which all kids between the age of 15 days to 25 years old are covered. Once all your kids reach the age of 25 years old, you may want to get rid of the child rider, unless you plan to have more kids.
June 21st, 2009 at 6:46 am
I have Primerica's 35 year level term insurance. Even though I'm an agent, there are just way too many life insurance companies out there to compare who has the best rates. Primerica offers different level terms of 10, 20, 25, 30, and 35 year. But among Primerica's competitors such as Metlife, Prudential, AIG, Allstate, State Farm, etc., Primerica has the lowest rate.
Comparing rates alone should not be only factor when deciding which company to choose. You should also look at their ratings from AM Best. Primerica has AM Best rating of A+.
What other features are included in the life insurance policy?
Primerica sells one policy per family. Terminal illness benefit are included in all life policies at no additional cost.
What happens at the end of the term for each company? At Primerica, life insurance policies are guaranteed renewable without providing proof of insurability. They are also convertible to another term policy, not a cash value life insurance policy.
June 21st, 2009 at 5:20 pm
June 22nd, 2009 at 3:05 am
here are some facts in regards to Primerica Life Insurance:
Terminal illness benefit included in the policy. If you were diagnosed to be terminally ill, you can use the face amount of the policy to pay off your bills
1) AM Best rating of A+
2) Pays average death claim of $2.6 million/day
3) Place in force more than $90 billion in coverage in 2008, bringing the overall total coverage to near $800 billion.
4) Average face amount per policy is $285,000.
5) Over 100,000 life licensed representatives
6) One policy per family
7) Banding coverage is included. That means, with the husband and wife in a single policy, rate is base on total coverage. The bigger the total coverage, the less it cost per $1000 coverage.
9) Waiver of Premium rider available. If you were to become disabled, your premiums will be waived and your policy will stay in force.
10) Child rider available. Under this single rider, all kids up to age of 25 are covered.
11) Your life insurance is guaranteed renewable. When it is time to renew, no medical checkup is required to see if you are still insurable.
12) Life insurance policies are exchangeable or convertible to term insurance only, not whole life or universal life.
13) Customized, confidential, and complimentary financial needs analysis included.
June 22nd, 2009 at 10:25 pm
This is the Primerica's home office number: 770-381-1000. They can direct you to the life insurance department.