Primerica Financial Services ReviewThe purpose of this article is to provide an independent review of Primerica Financial Services, also known as Primerica. Please know that the name is a registered trademark, owned by the company. I am in no way affiliated with the company. All information was collected from independent research. All sources are quoted, respectively. Primerica Company InformationWhat is Primerica Financial Services? And how does it work? Primerica is a financial services company, which utilizes the multi-level marketing business model to sell its financial services. The company specializes in debt consolidation loans, mutual fund investments, term life insurance, annuities, auto and home owner’s insurance, long-term care insurance, pre-paid legal services, and more (source, company website). Simply put, they are a comprehensive financial services company. Their target market is middle-class America. The company’s mission statement is to “help families become properly protected, debt free, and financially independent (source, company website). The company headquarters is located in Duluth, Georgia. Its roots trace back to 1977. They are the largest financial services marketing firm in North America (source, company website). More than 4.3 million people have insurance policies with the company (source, company website). The company has more than 2 million clients and manages nearly $35 Billion in investment accounts (source, company website). As you can see, Primerica is a large, stable and reputable company that dominates its market share. Primerica is a publicly owned company and is traded on the New York Stock Exchange as PRI. Getting Started with PrimericaHow do you get started with the company? To get started with Primerica Financial Services, you need a sponsor. Your sponsor is the person who shares the services and/or business opportunity with you. They show you the business opportunity presentation and teach you about the company. If you decide to get started, they will become your personal Primerica coach. Once you pay the registration fee and agree to the terms and policies, you need to get licensed in your state, so you can legally sell the financial services as an independent agent. Every state has different licensing requirements. In most cases, you must pay a fee to your state and pass a written test. You can get started in Primerica Financial Services without a license, but you will limit your earnings potential, because you will share your earnings with your upline until you are licensed. Therefore, it behooves you to get your license as quick as possible. The Primerica Compensation PlanHow do you make money with Primerica Financial Services? It’s actually quite simple. You make money with Primerica by selling its financial services to customers. You can sell life insurance, mutual funds, annuities, debt consolidation loans and all of the other financial services. When you do this, you earn overrides and commissions from your sales. It really isn’t much different than being a traditional insurance agent or financial advisor. The second way to make money with Primerica Financial Services is to recruit others. When you do this, you earn overrides and commissions off their sales. In essence, this is like being an insurance broker. In large insurance companies, the owner (broker) hires agents to work for him and he earns overrides off their sales. You get the same benefit when you recruit others into your Primerica business. Most people get started by sharing the services with people they know, such as family, friends, and casual acquaintances. The most successful reps use effective advertising, prospecting and referral techniques to expand their client base. How to SucceedNetwork marketing is simply a numbers game. To make money with Primerica Financial Services, you need to do two things. First and foremost, you need clients. You need clients to sell the products and services too. When you do that, you make an immediate profit. In some cases, this can be several thousand dollars, depending upon the amount of the transaction. You also earn residual income when your clients renew their policy each year. The next thing you need to do is recruit Primerica reps. You need to bring in new people into your business every month, so you can replace the people that quit. When you do this, you must train your downline and help them generate sales. The more people you can help, the more money you will make. That is the key to success. Final Thoughts about Primerica Financial ServicesIf you like to sell financial services, Primerica is a great business opportunity. Most regular insurance agents and financial planners do not have the option to build a sales organization. Instead, they are restricted to their own efforts. But Primerica agents are allowed to make money off their own sales AND build their own sales organization. I think that’s a win-win deal for everyone. More importantly, it is a stable company. Primerica has been in business 30+ years and is an industry leader. Primerica has a strong leadership team, has sound financial backing and shows consistent growth. Your key to success is to find a good sponsor and join their team. Once you do that, you must treat your business seriously by getting licensed quickly and then generating sales. If you can do that, the sky is the limit with Primerica Financial Services. On a side note, if you have ever worked with Primerica before, I would love to hear your story. What did you like about the company? How did you do? Did you make money? Please type in your 150+ word story in the web-form below. If approved, it will be available for the rest of our community to read and comment on. Thank you.
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