Sorry
Boooo,#2UPDATE EX-employee responds
Mon, April 04, 2005
Thank you for your response and the oppurtunity to further explain what you were not able to understand in the above post. Turnover: You stated an industry average of 89% in 4 years, and I will not debate you. I however have stated that company turn is 50% IN ONE YEAR. Of 100,000 people thats roughly 21,000 per year industry avarage as compared That is 50% in one year!!! As read above when talking about how much money is wasted, "...that is wasting 200 million per year training people..." Please pay attention to detail. Regarding the $199: I realize 199 is cheap to obtain liscensing and considered staying onboard just for that purpose. However as stated above 50% of testakers fail. So this begs to ask 1. How effective is the class, or 2. Why is Primerica hiring (recruiting) so many lazy idiots? In either case its still 200Million dollars wasted annually, and even if you were immoral and recruited people to this pyramid, you are doomed to failure because half the people you actually get to show up (which will be considerably lower than the ammount of people you speak to) will fail. This wastes your time and your money. I would much rather be soliciting sales, but since thats really not the job of primerica agents once they are finished selling to their warm marked, it doesnt pay (unless you find a ton of recruits) This class btw is the only formal training you will ever get from Primerica, which receive many complaints that their agents suck (sometimes they simply try to recruit and don't do an FNA b/c the time is not worth it) Gee I wonder why the suck. Lawsuit "role" model. Well there is a pretty simple reason why your not getting suits files. Because Primerica sells to a perpetually warm market who is 1. more likely to pay inflated prices and 2. Less likey to make a stink about it. Read the following pdf and do a search within it for primerica (this is a canadian court case) http://www.fasken.com/web/fmdwebsite.nsf/0/7526015CFFCBF89E85256BA7005CDF14/$File/ADBCLASSACTIONS.PDF?OpenElement ...especially page 9 of the pdf. You will see how Primerica's mandatory arbitration laws (which you didn't happen to talk about in your rebuttal :) )are unfair and are written to have the ability to squash any real action taken against them. So is Primerica a lawsuit "role" model? Sure it is if your a fat cat at the top of the pyramid. Next: Going out and helping people "earn" 500 to 1000 dollars. What do you mean earn? Do you mean 'save' as far as cost of living per month? Or do you mean recruit to Primerica as to fatten your own pockets. If you mean saving, be aware that the "savings" come at a huge expense. For example Primerica offers a life insurance policy for slightly over 350 per month. The same policy offered by Travelers for under 200. Incase you didn't know, Travelers is also owned by citigroup... This was discovered by a "whistleblower" who worked for primerica for 19 years. Do a google search for it and you'll find it. I was going to post the site, but figured you would prefer to do your own "real" research (as indicated by your rebuttal) As an agent how can I be sucessful if I do not have competitive products to sell??? Especially after I already put time and marketing into it? Well I can either do my best to rip people off, or I can recruit other so they unknowingly rip off their own family (ie' warm market). This is not an acceptable nor moral way to conduct business, and it does not promote innovation nor creativity. As far as not caring about what your manager makes? Well you should b/c you can bet your pay will be similar if you get to that position. Which in the former example is peanuts compared to the revenue he is directly and indirectly responsible for bringing in. Commenting your 1993 magazine further, it was 1993, or 12 years ago. If thats the most recent praise you can find. I either pity your ability to do research or that very point makes a statement against the business practices of primerica. Ok well I'm done ripping the company apart for now... As far as chargebacks... I did indicate that chargebacks are an industry standard and that Primerica offers payment plans to their agents to avoid ever being charged back. However they do not ever speak of this possibility of "losing" a sale you already made until its already too late. I had to specifically ask about it, and the surprise I saw on this guys face was priceless. So again, please make an effort to pay some attention to detail. I will move on to your last series of comments.. As far as my shortcommings, I obviously don't have any otherwise you would not have listened to what I had to say (which you obviously did as indicated by the fact that you posted a response) Well thanks for the compliment :) but its just too much. As far as the rest of your insults towards people who don't like primerica... well they are petty at best, and indicate ignorance on your part at best. Conclusion: Can you make money with Primerica?? Yes you can, you can make a lot of money. If you are willing to do the dirty work of ripping off friends family and unsepecting new rectruits... Eventually MLM companies like Primerica will be put under by law and "real" business. But until that day comes if you have the blackness of a soul to do their biddings. With lots of hard work and many hours you CAN make money? However statistics say that you will not, and the money you will make will be at the expense of others, so you may in the end, consider you hard work wasted. For you hard workers out there.. go into a business for youself and don't make the Fat cats fatter. BTW IAN I'm quite sucessful in my IT career, and am in the midst of opening my own business on the side... so don't talk to me about not working hard when the reason why you (and most others) probably signed up for Primerica is that they sold you on the dream that eventually you would not have to work b/c there would be those working under you. Anyway, thanks for the compliment and take care.
Ian
Okotoks,#3UPDATE Employee
Mon, April 04, 2005
i read this and had to laugh,why dont you do some real research. You said primerica has a 50% turnover rate,if thats true i am really excited about that, because if you did some real research, ie:insurance journal or any other industry publication, the industry four year average is 89% turnover and the industry average to train an agent is $114,000,look it up in any industry publication.as far as a pyramid goes any brokerage works on a commission split,and the $199 is for licencing,in alberta it costs about $1000 to get a licence through the local colledge and province if you were to do it on your own and its the same licence everyond has to have.and also when i can go out and help a family and earn $500 to $1000 by myself in an evening,i really dont care what my manager makes.as far as the charge back goes,that is standard in the life insurance industry,maybe you should check out Bests review,that is an industry publication,in 1993 they called us a role model for our lawsuit weary rivals because every other insurance company in the industry was in class action lawsuits except us,and january of this year we were on the cover and had a four page article on our company. that all being said i am thankful for this site,for it keeps me from wasting my time on the people that would rather listen to a bunch of people that have no clue about what they are talking about and would rather blame others for thier shortcomings, rather than do some real research.thanks again