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re: Primerica. What is the scoop on that company?
Posted on 1/16/09 at 4:47 pm to dawgorama
Posted on 1/16/09 at 4:47 pm to dawgorama
Good links dawgorama. Yeah we are going to probably break away from Citi but that is not going to hurt us one bit. Citi is dumping everyone right now because they aren't making any money outside of the ton of business we have brought them. Strong rumor is that Citi is actually going to sell Citi Bank, Citi Financial AND Citi Mortgage. Not sure if it will happen but it's a hot rumor lately. Also heard that we may end up buying their smart loan program and solution which would make our company even that much stronger than it already is. We are the only company that has made profit for them (Citi) in the last year with all the finanical turmoil going on in America. Our company in the last year is actually up 27% on profit. The reasons Citi has had trouble selling us is we make them a ton of money but also we are very expensive to sell because we are worth so much and with the economy right now it's hard for a lot of company's to buy us, even though they want too because they know how powerful of a marketing group we are. Primerica will continue to thrive and grow like it always has regardless of what Citi does or doesn't do. All of the big whigs are actually excited about the changes that are coming because they know it's time for a change relative to what is going on with Citi and other companies we market for that are owned by Citi.
Posted on 1/19/09 at 8:57 am to Jason
quote:
Collis Temple III is in the Primerica company. He seems to be doing well.
Yeah he sure is. Making around $800,000 a year
Posted on 1/19/09 at 2:10 pm to NoBama
All of the people that work at Primerica have their salaries posted so everyone knows who is making what. Very competitive job.
Posted on 1/19/09 at 7:12 pm to Jason
quote:
All of the people that work at Primerica have their salaries posted so everyone knows who is making what. Very competitive job.
they dont have salaries... they work on commision... if you get someone else involved and selling you get a percent of what they sell, its called an over ride.
Primerica's business philosophy is buy term life insurance and invest the difference... diff being what you save from owning whole life insurance.
Term life ins is like renting.
whole life ins is like buying.
Only problem is I need more covg when i am young and have wife, kids, mortage, bills, ect ect than i do when im say 55.
I sold ins for 7 yrs, with two good health and life ins companies... Primeica has LOW term life rates... if you are young(20-40) IMO term life is the way to go.., you can get more covg (face amount) for less monthly premium.
Posted on 1/20/09 at 12:22 am to council
quote:
they dont have salaries... they work on commision...
My bad Council thanks for correcting me. What I mean't to say was that each agents numbers are posted.
Council you make really great points and your very RIGHT in your statements.
quote:
Term life ins is like renting.
quote:
whole life ins is like buying.
Explain?
Term is getting a lot more coverage for the time in your life you need it the most for alot less money than getting Whole life as you pointed out, but Whole life builds up a cash value that ends up not all being YOUR cash and you end up having to borrow against your own money to get your cash value you out of it that basically is not YOUR cash but the insurance company's. Whole life is a complete rip off. Term allows you to invest & safe for your future that way you don't need insurance for your entire life. I don't believe someone needs life insurance for their WHOLE LIFE. Past 70 or 75 at the latest is a waste of money in my opinion. If someone has wisdom and saves and invests then they won't need life insurance past this age category. But again thats just how I would do it. Most Whole life insurance salesman would obviously like to screw you over by getting you into a policy for your entire life. I just think thats stupid. But to each his own.
Posted on 1/20/09 at 1:13 am to Jason
Term
you buy it for a term of time 5 yr, 10 yr, 20 yr so on ...after that(term) is over you have no more insurnace... if you happened to die during the term your family collects, ie (renting) a house, lease is up you leave.
WL
you buy it and as long as you pay your premiums you have the coverage..if you happen to want to get out it builds cash value to be refunded if policy is cancelled...obv longer you keep the higher the cv will be...ie (buying) a house you sell it you have some equity to cash in on.
as far as WL salesmen goes, there really is no difference..most ins guys sell both... i explained both and let the buyer decide.
YOu will one day die and a funeral is gonna cost you around (conserv) 10k...so i dont agree with you there ,,, whole life ins has a place too.... as i said I always let the buyer decide.
you buy it for a term of time 5 yr, 10 yr, 20 yr so on ...after that(term) is over you have no more insurnace... if you happened to die during the term your family collects, ie (renting) a house, lease is up you leave.
WL
you buy it and as long as you pay your premiums you have the coverage..if you happen to want to get out it builds cash value to be refunded if policy is cancelled...obv longer you keep the higher the cv will be...ie (buying) a house you sell it you have some equity to cash in on.
as far as WL salesmen goes, there really is no difference..most ins guys sell both... i explained both and let the buyer decide.
YOu will one day die and a funeral is gonna cost you around (conserv) 10k...so i dont agree with you there ,,, whole life ins has a place too.... as i said I always let the buyer decide.
This post was edited on 1/20/09 at 1:15 am
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