Thanks for stopping by to read our Primerica review.
Primerica has been out for a while so perhaps someone might have approached you about the business opportunity or products.
Make sure more about the company before you plunge into it.
Primerica stands out as it is selling life insurance plans, unlike most network marketing companies that are selling home jewelry and skincare products. Read this Primerica review to learn more about the company.
Primerica Company: Review
The company was initially introduced in 1977. Primerica became public in 1983 on the NASDAQ. However, in 2010 they diverged from Citigroup, their parent company.
Currently, they have their headquarters in Duluth, Georgia.
As per Forbes, A.L Williams, Primerica’s founder initially started his life insurance career after his father passed away because that particular life insurance plan ended up being useless.
He was annoyed that there were just poor options for life insurance and people were not aware of those options.
Earlier in the 1970’s companies were shoving pricey life insurance policies on US citizens who had not much idea about them.
Primerica was born as a result.
It did not take them long to become the biggest seller of life insurance in the U.S. It also transformed the industry.
They hit $1.27 billion in the year 2013. Their sum equity is $1.34 billion.
Also, they have crazy profit margins of 14%. It is 3 times higher compared to the average in their industry.
Even at present, they are leading the way.
The life insurance and financial services of Primerica include:
- Term Life Insurance
- Mutual Funds
- Segregated Funds
- Manages Accounts
- Long Term Care Insurance
- Legal Services
- Auto Insurance
- Homeowners Insurance
- Credit Monitoring
- Debt Management Plans
Term Life Insurance is their more popular product.
They offer affordable term life insurance plans.
They paid out $1.2 billion in 2015 alone, in death claims. 92% of their claims were paid within 14 days.
More often than not, the biggest concern with people with life insurance companies is they find ways not to pay after your loved one passes away.
But Primerica pays their claims on time.
The only con is they utilize the network marketing business model.
Compensation Plan of Primerica
To start with Primerica, it will cost $99. It is not like those network marketing companies. You don’t have to sell a physical product. However, the fee does pay for the state insurance and financial services exams and your license to sell life insurance.
They also offer optional online tools costing $28 monthly.
Initially, you can earn 25% commissions on all financial services and sales. It recurs month after month.
In case you advance your rank, the commissions can go up to 70%. On your personally sponsored members, you also get a 10% overrides.
There is an informative video on YouTube on the Primerica compensation plan.
Compensation Plan Video of Primerica
The video shows that many fail as they treat this seriously as an actual business.
You have better income potential than any job. It is only because they don’t take serious action, the average rep makes $5,000 yearly.
It is much lower than the average salary a traditional life insurance company would pay.
Why Some Negative Primerica Reviews?
There are some reasons for the negative Primerica reviews out there.
For instance, if a blogger is selling their own opportunity, they call everything else a scam.
Again, if someone doesn’t get the results they want from Primerica, they call it a scam.
Many are having success with this company.
If something is 100% legit.
Primerica Review – Verdict
It is not a scam.
This legit business has been going strong since the last 70’s.
Additionally, their products/services provide competition in the general marketplace making job selling a lot easier.
The best thing you could do is get your life insurance and take it seriously so that it will pay you well.
Aaron and Shara What Do You Suggest?
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