Yes. I've googled and read a lot about the good and bad things at Primerica. Below I will write down a list of pros and cons that I have come up with myself about Primerica.
Ultimately, I want to learn more about insurance and the financial industry while making a good amount of money and help people by doing so. I am pursuing a degree that will ultimately lead me to either become a financial advisor/analyst, actuary, and if I could maybe investment banking. Somehow my life and Primerica's crossed and I thought it would be a good opportunity to learn and possibly look good on a resume if successful. I know that it's going to be a lot of recruiting and prospecting at the same time, and I have had a lot of experience in networking so I don't see this as a problem (yet) and think I can be successful at both.
Now that that's out of the way, I will list things that I like and dislike about Primerica so far and in doing so I hope that you guys can help me add more things to each side to see if Primerica is a good fit for me or lead me to decide to do something else instead.
PROS
CONS
I've really been on the fence about this job. I know I can do it well, but I don't know if I could have more success elsewhere.
How much commission do other companies give starting?
Are those other jobs difficult to obtain?
Is there a better chance for me to learn just as much elsewhere?
Am I being brainwashed to thinking this place will make me the most money for my work?
Is the product bad besides the high rates? Should families be worried about any sort of mishaps or fine print at Primerica vs another company or vice versa?
A lot of people claim that Primerica reps often say that Primerica products are the best and believe that others are evil. Are there a lot of shady/unethical/evil companies out there? Is Primerica good/evil??
I really don't know much. I just want to learn, sell, help, and make the most money doing so.
Am I heading in the right direction?
Ultimately, I want to learn more about insurance and the financial industry while making a good amount of money and help people by doing so. I am pursuing a degree that will ultimately lead me to either become a financial advisor/analyst, actuary, and if I could maybe investment banking. Somehow my life and Primerica's crossed and I thought it would be a good opportunity to learn and possibly look good on a resume if successful. I know that it's going to be a lot of recruiting and prospecting at the same time, and I have had a lot of experience in networking so I don't see this as a problem (yet) and think I can be successful at both.
Now that that's out of the way, I will list things that I like and dislike about Primerica so far and in doing so I hope that you guys can help me add more things to each side to see if Primerica is a good fit for me or lead me to decide to do something else instead.
PROS
- The people that own the firm seem very knowledgeable about the field and I think I can learn a lot from them as well as some other successful team members. They don't seem reluctant to answer the questions I have had so far and I don't know whether or not I could get the same type of mentoring at other "firms?"
- I am free to reach whatever goals I want to. I don't have to have X amount of clients by N days unless I want to make more money or move up. (No one will yell at me for not getting clients) Although the only way I'll make money is to sell/recruit, I'd list not being yelled/pressured to work is relieving and will make me produce better numbers than being told that I have to
- I like that, so far, most of the people that are "agents?" not sure of the term, but they feel like they're helping families. I do like the idea of helping families and I'm glad to be around peers that feel the same way.
- Mostly Everyone seems happy. Everyone that I see who sticks around the office is really enjoying their life. Some claim to have quit their jobs, and when I ask them if they're glad they did, they aren't hesitant nor give a weak reply like, "Yeah, I guess so", but have that look on their face as if Primerica changed their lives and they weren't quitting any time soon. I mean how much are they making for them to be that happy? IDK, but I enjoyed their cheerful vibes.
- Adding on to my previous point, they have these meetings where everyone is cheering each other on about their numbers and stuff. They have to have been making a lot of money to be that excited to whistle and howl for a couple of hours at their own and others success. I still don't understand the culture.
- The job was easy to get. I am not sure how difficult it is to get a sales position at another company
- I can work whenever I want to. Not sure about other companies.
- They will pay for, I think, all of my licensing exams such as life, securities 6 and 69, etc. and if I leave, I get to keep them. (So I was told..)
- The branch that I am a part of is one of the more successful Primerica branches, or so they say.
- I can recruit well and if I put my energy into recruiting, I can rely on my recruits to do the prospecting which results in me getting money from either closing for them, or them closing themselves. I'm just hoping this works out.
CONS
- Their product is a bit more expensive than competitors. Having not sold anything yet, I already feel bad thinking that as their "financial advisor of sorts" I'm basically ripping them off by not finding them the best deal. The purpose of buying term is to invest the difference, but the best way to do that is buy getting the cheapest deal. I've read that most people that do buy the cheapest rates for term life end up cancelling. So if I worked at a place that sold cheaper term, I wouldn't be making money if they are cancelling their policies.
- After reading around, I think the commission might be a little low starting. Which I think is around 25% and then promoted to 50% after first 4 clients. Whereas I've read people saying they get around 80-100%+.
- Maybe I'm being lied to by everyone, maybe they aren't successful but just want to project that they are and everyone is doing the same thing because they have nothing else going for them. I am not sure. After seeing their numbers for the week and calculating their potential income that week, they make an okay amount, maybe around $1000 a week, but I have nothing to compare that to.
I've really been on the fence about this job. I know I can do it well, but I don't know if I could have more success elsewhere.
How much commission do other companies give starting?
Are those other jobs difficult to obtain?
Is there a better chance for me to learn just as much elsewhere?
Am I being brainwashed to thinking this place will make me the most money for my work?
Is the product bad besides the high rates? Should families be worried about any sort of mishaps or fine print at Primerica vs another company or vice versa?
A lot of people claim that Primerica reps often say that Primerica products are the best and believe that others are evil. Are there a lot of shady/unethical/evil companies out there? Is Primerica good/evil??
I really don't know much. I just want to learn, sell, help, and make the most money doing so.
Am I heading in the right direction?