Anyone else doing Primerica?

I worked with Primerica 3 years ago for about two months.
I never made a penny, but that was only because I never wanted to run around bugging friends and family.
At the same time, I was epicly drilled with Financial Advice.
I don't regret it, but I didn't exactly like working with Primerica.

Of course, my mentor/trainer/upline trained me to post business cards in local restaurants and hold meetings in them as well.
Golden Coral was the main attraction - Free Buffet and all.

I went to these meetings, but I've never actually held a single presentation or made any point of sale.

I agree with most others on this thread - Stick to online marketing.
It's much better and easier on your spirit.
Being neglected by 1,000 online prospects is much less irritating than being neglected by 10 offline prospects.

fluffyman21 said:

I agree with most others on this thread - Stick to online marketing.
It's much better and easier on your spirit.
Being neglected by 1,000 online prospects is much less irritating than being neglected by 10 offline prospects.

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We're building a quality team because the lady in my upline is a full timer. She is blown away by my online teambuilding strategies and is taking care of the interviews for me Not too shabby. If she was a part timer there's no way I could make a penny from residuals.

Now I just need to find a way to look for insurance/finance leads. I feel like taking action and "hitting it" with the phonebook. However, like the vast majority of guys on BHW I'm scared of cold calling.

Lol I tried something similar before called pre paid legal and I failed horribly.


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screw that MLM stuff - do some real MARKETING for your own business and personal brand - you'll earn tons more money that way.

MLM companies...you're still their bitch. if they happen to change out any products or services that you're actually succeeding in, you're SOL

plus, just like anything else to be successful, you gotta hustle, right?

So would you wanna hustle for primamerica? or for your own business/brand/image?

Hopefully it's the later

IMO, there are a lot better companies out there than Primerica (I found a company that has a great product and I only sell life insurance). I have been selling insurance / investments for over a year now and tried a million different methods. Like you, I wanted to use my internet savvy for my benefit. For example, I tried Google places, SEO websites, Facebook pages, yard signs, etc. and have made only ONE sale off of it.

There isn't really an "easy" way to sell these products due to laws and regulations (can't say "I can get you the best deal", etc).

The only one true way to sell investments / insurance is to build a relationship with prospects. What worked best for me was walking into small businesses and shooting the "breeze" with them. I would walk into a business with a smile and a common conversation would go like this:

Me: Hey, how are you doing today? You must be the owner...

Owner: (They will introduce themselves) Yes, what could I do for you? / Yes, what are you selling?

Me: (Smile/Laugh) I'm not selling you anything! My name is _______ and I'm starting a practice here in the community and wanted to introduce myself to some of the business owners here and just do a little bit of 'old fashioned advertising'.

Owner: Oh Ok. / I like that in a person! / What kind of practice are you starting?

Me: Risk management and retirement. So how long have you been in business here? / How's business going?

*** At this time a normal conversation will start (you should master this art or you will be out of business quickly). People love talking about themselves, so just ask about their business / life and they will not stop talking. Find common ground and build rapport. After the conversation starts to end, my closing would go like this.

Me: ... That's really cool! (I always stayed positive / upbeat) But yeah, I don't want to take a lot of your time, I know your busy and have a lot on your plate right now, but do you have a card? (They will always give you a card, because it could be possible business for them). Great, can I give you a call sometime and get your opinion on a few things? (They will always say yes, because people love giving their opinion on things).

I would call them back in 3-4 days and say something along these lines:

Me: Hey ______, this is ________, I stopped by your business the other day and there's something that came across my desk that I'm really excited about and I would like to show you. Are you free Monday morning where I can stop by for 15 minutes and get your opinion on it?

This same scenario is good for knocking on resident doors as well. If you do this 20-30 times a week, you will make good money (pending your sales skills).

How much are you getting paid for 1 prospect at primerica?

I am paid anywhere from 15%-25% on overrides. The whole reason I joined the program was due to the mlm compensation plan.

For selling an insurance policy I can get paid around 1000 dollars. However, as Patricko explained it's very difficult to sell the company's products in a cold market unless you put in the effort to establish a relationship prior to the pitch. The only exception is the new loan referrals. I have found a good provider of mortgage leads on BHW and will hit them up shortly (I will post an update on my conversions) The commission for an approved client referral to AFG is $150. Not much, but it's an easier cold sell then the insurance or investment packages.

UPDATE:

The bad news:

My recruiting has been pretty stagnant in the past 3 weeks. I have 2 interviews for today but one of the girls who submitted her application hasn't shown up in a month. Generally it's expected that 50% of recruits who submit their applications drop out while 25% will follow the system and earn in their first year.

So after two months I have 3 sales people in level 2 of my downline. One of them is writing their provincial exam is december while the other two are scheduled to write it in January.

The good news:

The first sales guy to join my downline has brought his son on board. His application was approved and

He also pitched the biz to one of his friends (immigrated from Phillipines 10 yrs ago, was recently laid off from accounting job and currently on ei) Last thursday, me and my associate met with him and his wife (shes very excited and wants him to join the biz) The couple and the aunty want to do investments with me and is eager to refer me to their their whole family/friends/relatives! Woohoo!

I can also save them $130/mo on insurance! I will post more updates soon!

And if that's not enough, one of his lady friends from work knows about the system and wants to "get in" Shes a go getter and we will interview her next tuesday!

Although I've continued online marketing I decided to step out of my comfort zone and went to a "Rich Dad" convention in my spare time. I met an investments guy from one of the Big Banks who was very entrepreneur- minded. I followed up with him, added him on linkedin and met at a Starbucks and we had no shortage of things to discuss. Afterwards my associate interviewed him but he's a little unsure to go "all in" since he currently has a stable position but he sees value in the system. Fortunately, his wife is very excited to join the business.

Prime America came and talked to my business fraternity. Apparently they are growing very fast and just established a new headquarters in Atlanta. It would be difficult to sell their products if you are a young person. I mean who wants to get financial advice from a 20 year old?

Basically they want you to go in and tell people what is necessary for them to climb out of their debt hole and then sell them mutual funds so they can retire. I learned alot from the lecture though...

It will take an average of one million dollars per person to retire, if your around 20 now.

He also said, "No one plans to fail, but many fail to plan"

^^ Thats true.

Would you consider doing recruiting for them or do you see yourself focusing on the financial advisor side of company?

One thing I was relieved to learn, though, was that Primerica has the best average seg fund performance of any company. This should basically sell itself. However, I'm not going to be biased and say they offer the best insurance rates because I can point you in the direction of several Canadian companies that offer term insurance for around 2/3 the price.
All companies have their positives and negatives but the mlm structure is what ultimately sold an IM based person like me. Moreover, it's a service based mlm, not product based, so no worrying about overhead costs. Also, my upline is awesome (I guess it helps that she's good looking) and helps me with recruiting and interviews.

I still have plenty of time to focus on my own lead gen business on the side. When clients are happy with what I've provided I can discuss hooking them up with Primerica's mortgage and corporate insurance and benefits packages such as health/dental etc. As Patricko said, it's all about establishing relationships.

LitoVargas said:

I was reading online about Primerica and came across this forum. You have a lot of good insight on the company. Do you still work with Primerica? If so what is all this talk of online marketing? I'm not a big fan of bugging the people around me because I have been doing that for about a month and i am pretty sure they don't like it, as well as I don't either. Any advice?

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Hey Lito,

Have you done cold calling targeting realtors and people in other networking marketing companies? If you call 100 numbers I guarantee you can schedule a couple meetings with your upline. Just keep it simple and ask if they'd like to meetup and discuss an alternative business opportunity.

-Evan