Is Primerica the Right Opportunity for You?

Is Primerica the Right Opportunity for You?

Many more people than has been the case since I was born (over 60 years ago) are now looking for work or a business opportunity. Some who have sales experience, or feel they’d be successful in sales, are looking at the insurance industry, in addition as other opportunities, as a low-cost way to get into their own business. For those people, I’ll try to help in answering the question: “Is Primerica the right opportunity for you?”

The Company

Primerica Life Insurance Company was established in 1977 on the assumption that term life insurance is a much better option than whole life for most all Americans. They say that they coined the phrase: “Buy term and invest the difference.” The company has gone by a few different financial structures over the years as they became part of CitiGroup who in turn merged with the Travelers Group which was later spun off again. Most recently (March, 2010) the chief Primerica company spun off from CitiGroup on its own IPO. While there was meaningful advantage to CitiGroup when that cash was raised, the stock price for this insurance company has increased considerably, as of this writing, suggesting a substantial perception of strength for the company.

The Products

Primerica is an insurance and financial sets company. Their products are very similar to what you would expect from any insurance company except that they stick to term life insurance, offering their own products in addition as chosen policies from other providers. In addition, they offer debt consolidation, mutual funds, annuities, casualty insurance for auto and home, long-term care insurance and pre-paid legal sets. They stress the fact that their associates educate their prospective customer on how money works. I believe, however, that education is very basic and would rule most customers into the “buy and keep up” philosophies which I find to be currently unacceptable. In fact, that is not how the wealthy invest, which is what the company implies here.

The Business form – The Opportunity

Remember this is all about selling insurance and financial products, or is it? Wait a minute! There is a meaningful difference at Primerica. You see, while the insurance industry pretty much invented the concept of residual income, most insurance agents receive that income from the continued payments of premiums from their customers over the years. Primerica has taken this to another level. In their case, in order to really succeed, you need also to recruit additional associates into your down-line. You are in the network marketing arena. You receive compensation on what your recruits do, in addition.

The company does provide training for the products you represent and they don’t limit your territory except to the limitations of the state licensing you acquire. They do allow you to own your own business unprotected to internal qualifications. They teach the traditional insurance marketing techniques, that is, make a list of everyone you know, call all of them and get referrals from anyone who will provide them. It is a confront-to-confront sales form. So, you have to be comfortable with proper sales techniques. If you haven’t already, you’ll want to get sales training.

Something You May Not Know

Whether you choose Primerica or another business opportunity, you don’t have to be limited to your own network of friends and family. already if you see yourself as staying close to home, you can learn how to use the internet to generate leads both for customers and recruits on a local basis. In fact, you can often reach the top of the search engines for your business more easily because you are targeting local traffic. Learn how to do that now, while you are thinking about it.

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