Subject: Re: Re: Re: Re: Deceptive Practices?

Comments:
: Logic?, : I have to disagree with you on your posting. The reason other companies are more competitive with their term prices has to do with placement ratio and persistency. Primerica does not do good in these areas. : The reason is because you usually get new recruits to buy a policy and when they leave in 6 months there is a good chance that they will drop their policy and we all know that an insurance company does not make any money from a term policy until about the third year. Insurance companies do not sell "loss leader" products subsidized by the sale of other products. Each product must stand on its own and be profitable or else they stop selling it. : There are a lot more educated people than you think. About 95% of my business is term insurance and it is what my clients ask for. The other 5 percent is permanent insurance that, once again, my clients have asked for. Every product an insurance company sells has its time and place and unfortunately, just like you have, we have agents in our ranks that are more concerned about commission instead of taking care of their clients. Those agents usually don't last long. : Most of the clients you work with are the ones that the "newbie" agents cut their teeth on and the ones that go for commission are quickly gone and their product is replaced. The agents that have learned how to take care of the client first are the ones you never get to do business with. : I have encountered deceptive practices in Primerica. It is deceptive to call someone on the phone and tell them that you are a hiring manager for a division of Citigroup and that you are looking for managers to open up multiple new offices in the area. Why is this deceptive? First of all, you are not a hiring manager in the true sense and you do not have any new offices opening. I was taught to say a variation of this text, (that's because when I was with them it was still Primerica Corporation and Travelers and Citigroup were not part of the picture yet.)I was taught to say as little as possible, the goal was to get them in the office to hear the orientation. : The main problem I have is with the recruiting practices. It tends to be all hype and they have the typical MLM mentality of wanting to brush aside any questions and just keep everyone pumped up. It was scary seeing some of the people that were going to be in charge of someone's financial future. The knowledge level was kept low and it was substituted with hype and rah-rah. : What you don't realize Logic? is that the statements and comments you are making are the same that every other Primerica person has made and that leads us to believe that you all are just taking what your upline says at face value and not doing any of your own research. Go and truly do your homework and talk to independent agents, (not captive agents), and you will see that there are a lot of good agents out there servicing their clients. : : ( One thing they never mention is investments, since we pretty much kick butt there. I mean between Smith Barney and the hundreds of other funds we offer, we pretty much dominate there. But of course, no one gives us credit for that, they just harp on the Life and the Loans. ) : : You know, I noticed this too. : : I know I'm preaching to the choir, but I realized two things about Primerica. 1) the reason we don't have the lowest rate for term insurance, is because other term companies sell term and cash value at the same time. A company that rips people off on cash value (i.e. generates a huge profit) can afford to give the few educated people really low cost term, at a loss. Whereas Primerica is fair to everyone, so to stay solvent, their rates have to be a bit higher. 2) On loans, our rate may be higher, but the actually interest paid is less, because our interest is calculated differently (simple interest). People critisizing our loans always seem to forget that. : : Anyhow. Thanks for the post :) and of course, for reading mine.

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