1st of all, anyone who gets involved with any company or business opportunity must do their own research. Sometimes it can be difficult to ferret out true information, but it's out there.
2nd, here are some facts about Primerica that are easily verified.
* The licensing you get with Primerica are the exact same licenses that you get with ANY company out there. That's valuable to you, and the most valuable part of the business. You DO NOT OWN YOUR BUSINESS. You do however OWN YOUR LICENSES. Doubtless there are may Primericans who will argue that, but so far I have not met one who could explain the IBA and what it really entitles you to have as your own.
* Primerica products ARE NOT COMPETITIVELY PRICED. They are loaded (especially term insurance) with extra costs to pay the pyramid while short-changing the writing agent. Again, they say "not true", but they know nothing of the industry on the outside.
* Primerica agents know almost nothing about financial services, apart from what they get from rallies and meetings. And there, they are usually taught to believe whatever they are told to believe. Again, they say "not true", but how many CFPs, CHUs, CSAs, or MDRT members will you find. Try NONE.......if the masses became too educated they would not buy into the trash-talk about everyone else in the industry.
* There are a few big players that have come up into the million dollar classes. That is very nearly impossible to duplicate. There are many reasons why people don't succeed (every single one of them blaming the individual agent), but the truth is that in any pyramid company, always there are a few that get stone wealthy, while the rest starve.
* On the rate of success - externally Primerica boasts of 100,000 + agents. Internally, they boast of recruiting 20,000 new agents a month (that would be by the way, 240,000 new agents EVERY YEAR). At the same time, a very small fraction of people earn any kind of reasonable living, and a precious few of those live the "dream". So we can say with confidence that even if you stay with the company more than 36 months, your odds of getting anyway are so small they are ridiculous. Disagree? Read the numbers again. Loss rate among agents exceed 98 % every year.
* There are big changes coming up in the Primerica world.....changes that would send panic through any other company in the world but largely go unobserved by the average PFS agent. Why? Again, the believe whatever thay are told to believe. CITI and PRIMERICA are engaged in discussions that would sell the "marketing arm" of Primerica, i.e. the sales force, leaving CITI with the policies in force and the assets themselves. Agents then would write for some other insurer. That is not far from disbanding the sales force and just raiding the cash pot.
But, the propaganda inside PFS says that they are going to be the biggest thing ever, and this is nothing but blue skies for them. Reality check.....guys, read your IBAs. The company can terminate their agreement with anyone at any time, thus any heiarchy can collapse in the matter of days. Don't believe???? That's fine. But the end for you may be nearer than you think.
I would encourage anyone to read, research, and draw their own conclusions. If you are thinking of going down this road - find out these things from the person trying to recruit you and from his RVP.
1-CASHFLOW PER YEAR, FOR THE LAST 3 YEARS
2-COST OF OFFICE OVERHEAD, INCLUDING PHONES AND CAR EXPENSE.
3-COST OF HEALTHCARE INSURANCE.
1 minus ( 2 + 3 ) will reveal the truth about the opportunity that they may not want you to see. They will always point to some guy at the top of the pyramid.......but don't fall for the smoke screen. You MUST find out THEIR incomes. This will inform your decisions.