Ok, I've been thinking about this a lot lately. Most of us that come to this website are fairly knowledgeable about Primerica because have all experienced it in one form or another. We've been there, know exactly how the game is played, and come here merely to explain to the newer agents that the carrot is not worth chasing.
There's truly no debate on products. Primerica is not competitive in either price or product features and/or availability. So, what is the attraction to stay in and defend Primerica?
There are a few things that seem to be the center of focus anytime one of the newbies come on this and other sites.
The first is the "good guy" company theory. For some reason, they're taught that EVERY other company preys upon middle America to buy the "evil" cash value policies. Primerica teaches their downlines to believe that they always do what's right, 100% of the time. It's a great theory, but most people in our industry always do the right thing. Primerica's "rescue the debt-laden middle American" mantra by offering significantly overpriced products is underhanded, at best.
The next theory is "Well, I've already invested time and money, I may as well see this through". My RVP tells me "only losers quit". He's not a loser, he's a big "RVP", and he must be right. After all, this guy came into this industry without any formal training and became an RVP, so why can't I? The unfortunate part is most RVPs still don't know anything about the business other than what was "taught" by his unknowledgable upline. Has anyone EVER met a Primerica rep/RVP that was a member of NAIFA? The reason you won't is because Primerica intentionally keeps their force in a cocoon. They don't want them to know any other way.
Another one of the theories the newbies like to employ is that we're all people who couldn't make it in Primerica. I was doing very well in Primerica and noticed relatively early how awful the product selection and price was. I decided I didn't want to "pretend" to do what's right 100% of the time, I wanted to DO what's right, 100% of the time. Bashing cash value policies so people could invest the difference sounded great. Then, I realized how much MORE they could invest if I wasn't ripping them off for premium. I also realized there are several reasons why cash value may be the only option to achieve certain goals, much of which are way beyond the scope of simple Primerica education. I know there have been plenty of others on this site who are obviously still in the business, so it wasn't a matter of "making it" with Primerica.
So why exactly do these people continue with the company, even when they're proven wrong? Is the "dream" they've been sold? Can a fry-guy really become a RVP in a few short months? Does the agent even question the fact that they are giving financial advice based upon a sales tool disguised as a financial plan, when they know *** well that they really know a lot more than the client but VERY LITTLE in comparison to real finance professionals? Is that similar to taking advantage of the less fortunate?
Monetary Loss: $1.