Primerica MLM Business Reviewed

Primerica MLM Business Reviewed
March 1, 2010 | By admin In Uncategorized |

Primerica Financial Services is a financial services company that is structured through the MLM business model. Representatives can earn either by selling various financial products and services like life insurance, mutual funds, variable annuities, segregated funds, loans, long-term care insurance and pre-paid legal services or by actively recruiting more representatives to do the same and get a commissions from their sales. Using an MLM business model to sell financial services might draw some criticism, but so far, it has paid off well for Primerica. But if you’re reading this article, then I suspect the bigger question is whether it will pay off well for you too.

The Company

Primerica, whose headquarters are located in Duluth, Georgia, is a subsidiary of Citigroup, which by itself, should ease concerns about whether this particular MLM is a legitimate business. Citigroup simply has too much at stake to risk involvement with a dodgy subsidiary to tarnish it’s name. Primerica has gotten a lot of criticism for aggressively recruiting just about anybody to become a representative (a hazard of using an MLM business format), but the products and services sold under the Primerica name are, by all indications, legitimate.

The Compensation Plan

For this review, let’s focus on Primerica’s best-known product, term life insurance, which is sold under the Primerica Life Insurance Company. This is probably why a large number of agents enter Primerica Financial Services to begin with.

Entering Primerica costs $199, which is reimbursable upon passing a licensing exam. The commission on a sale of term life insurance is 25%. The representative who closes that sale gets the bulk of the commission but has to split the rest among people in their upline.

As with any business structured around multilevel marketing, you are paid commissions based on your sales level. Selling term life insurance policies on your own is a hit or miss proposition. So to improve your chances of getting significant income from Primerica on a regular basis, the smart representative turns to recruiting new reps so he or she can receive an override from their sales. The more people you recruit (who actually close on sales,) the less actual personal selling you have to do to receive a greater income.

The Verdict

Primerica gets a nod for being a legitimate MLM business. But like any other MLM business opportunity, success comes only to those who have the proper set of skills to keep their business growing until residual income kicks in. Primerica’s idea of recruiting the average Joe into their sales force is great in theory, but one occasionally runs into problems when recruitment standards are thrown out the window completely. Still, it seems to be working out well enough for both Primerica and those dedicated representatives willing to put in the time and work involved.

If you’re considering a Primerica business opportunity, take a close look at your “warm market” of family and friends (who will probably be your first prospective recruits). Then ask yourself honestly if they’d be willing and able to actively sell term life insurance. Even with the proper training, some people are just not inclined to get into that kind of thing.

In short, you need to ask yourself if you could replicate the success of people higher up in the company. That’s a question only you can honestly answer. If you have any doubts about being able to sustain the level of recruitment needed to keep this particular MLM business opportunity growing, then keep your options open. There are thousands of business opportunities that might be a better fit for you.

But if you’re really serious about getting into Primerica and if you’re really looking to expand your marketing efforts from a different angle, definitely take a look at the largest marketplace on the planet, the Internet. If you can figure out how to market to the 1.6 billion people on the web each and every day, you more than likely will skyrocket to the top of the leader boards of Primerica or any other MLM business you get involved with for that matter.
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Primerica -Getting Started in the Business – Network Marketing

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"Let us not grow weary in doing good, for at the proper time we will reap a harvest if we do not give up."

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Is It Failure or Successicide?

By Bill Stewart ©2008



When asked the opposite of success

Most folks will say, “Failure, I guess."



I do not think that really is true.

Successful people have often failed, too.



In fact, the successful have failed quite a bit.

Usually more often than those who have quit



A Failure may slow you, but it doesn’t mean stop;

You make it a gravestone or a step to the top.



When you fail, it is only a test of your mettle.

Do you keep on trying or decide to just settle?



When settling, you just accept where you are;

You give up, quit fighting, you never go far.



When you choose to settle - give up on the ride -

You’re making a choice called: “successicide.”



Successicide – a decision that means

You’ve turned off the lights on your own field of dreams.



Successicide is just walking away,

Instead of choosing to fight one more day.



Successicide – it’s your journey’s end;

But failure can truly become a good friend.



A teacher to help you to find a new way;

To keep moving steadily forward each day.



You cannot go back and start over again,

So start where you are toward a new end.



And when you have failed, get up and take heart.

Here’s your chance to rise up and make a new start.



When facing your failures, be brave, my dear friend,

From each of your failures you learn how to win.



If you have a dream you think may have died,

Just ask: Was it failure or “successicide”?
---------
There Is More In You - Recorded Feb. 14th

There Is More Short Version

View more presentations from sharetruth.

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Be a Sower! (Purpose) -- Recorded April 18th, 2009

Be A Sower! (Purpose)

View more presentations from sharetruth.

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At BeyondTheBiz.biz you will hear from some of Primerica's top leaders as they share from their heart about their purpose, mission, vision and values and how their lives and values and their lives are making an impact Beyond The Biz!

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