Watch This Before Joining Primerica...

What is going on, Ladies and gentlemen? Watch this video before you join Primerica. So maybe you're thinking about joining Primerica. Maybe you already are at Primerica, or maybe you're just kind of looking into it. Well, basically, what I'm going to be doing in this video is breaking down the things, the questions, maybe even the warnings that you need to know before you jump in and make the commitment to ultimately join Primerica. So to give you a little bit of background, my name is Tim, been in the insurance industry for the last three. Three years, almost four years now. And you know, basically I've worked with a lot of Primerica agents, helping them set up marketing. I also am very familiar with how their model works. I've talked with a lot of people that work there. I worked with them on a close basis. So I know kind of the pros and the cons of being at Primerica, because I've actually had to help consult them as far as making decisions. So without any further ado, let's go ahead and jump right into it. So the first thing that I want to talk about is the commission level, right? And this is one of the things that a lot of people get wrong whenever they're joining the insurance industry because they don't look at other options, right? So a lot of people, they get recruited to Primerica and they've never worked at another imo, they've never worked with another agency. So Primerica is their first foray into insurance. And it's very important to know what is your starting commission level going to be@primerica versus what could you get somewhere else, right? And kind of compare those two things. So really, really, really, really do a deep dive and take a look. Okay, here's what I can get at Primerica versus what can I get somewhere else? And then how do the packages compare, right? How do you get you. How do you get your commissions raised? So how will they decide what your. When your comp level will be raised? Is it based off of recruiting? Is it based off of production? What is that based off of? And how do you actually grow in the company? And then also, what is the max commission that you can achieve at Primerica? Right? What is the highest level you can get to? How many people get there? What kind of money are they making? These are all questions that you really need to ask. And then also, what is the commission per product? So sometimes the commission will differ from one product versus another. So it's really important to ask that. The second thing is make sure that you do A ride along before actually joining. Right. A lot of people, you know, they don't really do any due diligence. They're just kind of sold this dream by one of their friends or someone that's close to them and they just go ahead and jump right into it without doing any due diligence or without running, riding along and seeing what a day in the life would actually be like before they go and join the industry and Primerica. So make sure that you find a successful Prime America agent, do a ride along, whether that's in a car or if they're doing telesales. I know most people at Primerica do in person. So kind of go with somebody and see what a day in their life would look like. It's very, very important to do. The next thing is a lot of people don't know what the difference between a captive agent and a broker are. So at Primerica you are going to be a captive agent. And so what this means is you can only sell Primerica's product, which is just their suite of term product. Usually they may have added a whole life, but the last time that I checked, they really had not had a whole life product. So you're only going to be able to sell one carrier, which is Primerica. You're going to be entirely focused on terms. You're not really going to do as much whole life or Iuls or anything like that. And the problem with this, from what I've seen working with people at Primerica, is a lot of times it's difficult for them to get people approved on a policy. So let's say someone comes in, maybe they have a health condition and Primerica won't accept them, or maybe they give them a rate that's more expensive than other companies would offer. So whereas with a lot of these other companies, other agencies you can join, you can sell multiple insurance carriers products, you have a lot of options. With Primerica, you usually you're very pigeonholed because you can only sell one product. You. So you can't always give the best thing for your customers. A lot of times if you buy leads or do something like that.

You'Re not going to be able to close all of your leads, not because they won't buy from you, but because you can't give them the best thing that they can get or you can't even get them approved. So again, you're primarily going to be doing term. You're not always going to be able to offer the best price. And that's definitely something to Keep in mind, whenever you're trying to figure out an agency, the next thing, and this is the most important thing whenever you're getting started with an agency is training. What kind of training are you going to get? Or are you like, is somebody going to really help walk you through the process, help make sure you don't make dumb mistakes, or are you just going to kind of get thrown to the wolves and tell to, you know, go walk up to random people at the grocery store and try to sell them insurance? That's very important. Is it going to be video training? If you get training, you're just going to be told to go to YouTube and watch videos. You're going to get one on one mentorship and training. And what if you're like in the middle of an application, you have a question, is your upline gonna be there to answer your calls and help you walk through that? Right. So make sure, really ask about what kind of training you're gonna get. I know the thing is like with insurance, with the Primerica model and a lot of other IMOs, it really depends on the upline that you get placed with. So you might get an upline that's fantastic. You might get an upline that sucks. Really is kind of up in the air and kind of depends there. So really try to feel out your upline and decide what that's gonna look like for you. The next thing is the lead program. So what type of leads are you going to be working? Are they going to be age leads? Are they going to be new leads? What's the cost per lead that Primerica offers? And what I've seen from talking to a lot of people that work at Primerica is usually the reps don't buy leads. A lot of times you're going to be focused on cold prospecting. Right. Going up to people in the farmer's market, going up to people in the grocery store doing different things like that. Right. And if that's not really something that you're, you like the idea of or you're comfortable with, you might want to look somewhere else. Right. So when you start, oftentimes, at least from my conversations with people, they're usually starting around 20 to 30%. They have to recruit and sell to raise their comp. So when you start off, a lot of times you won't even have enough commission to be able to buy leads. So you have to go that core prospecting route a lot of times. So really, really want to look into the lead program. What's the situation? Look like are you going to be expected to sell it to friends and family or are you going to have a list of leads that you can go out and work? And then this, I kind of touched on this already, the upline, right? Who's going to be their upline? What is their experience with selling? How involved will they be with training you? Do they have other agents that they've trained successfully? And then what is their sales experience and what is their actual income from selling insurance? So this is what I really want to talk about here is recruiting, right? So Primerica is heavily focused on recruiting. The commission structure that I have seen and from my understanding is very favored towards recruiting as opposed to producing. So what that means is you're going to be expected to bring people into the opportunity as opposed to just going out and selling policies. Right? So Primerica is very much a network based opportunity where you're going to go out and either recruit people or sell to people, you know. And a lot of times you'll sell to somebody you meet, sell them a policy and then try to recruit them to come work at Primerica. So that's a lot of times like the way that their business is done and so really want to think to yourself and decide internally, is that something you're comfortable with or would you rather, you know, do you think you'd be better, better fit in a different type of model? Right. So this is one thing that I think is actually a positive is that Primerica is big on buy term and invest the difference, which is essentially the whole philosophy of like you want to buy term insurance and then invest the difference of what you'd pay with term versus whole life, invest the difference into the stock market. Great. In theory, a lot of people don't do that, which is why final expense and other whole life products exist. But in theory, it's a great, great way to, you know, structure your life insurance as an individual person. So if you've run into somebody that's a Dave Ramsey fan, they're just going to absolutely love you. So that's great. And then also to fit this model, Primerica sells the term and then they will also help you invest the difference. So a lot of people will get securities license. And Primerica is very supportive of people getting a securities license and kind of going through that prospect. So that's a really good feature in my opinion, is that they're actually going to help to pay for you to get security license. At least from my understanding and the conversations I've had and a lot of the agents that stay at Prime America end up being securities licensed, so they can sell stocks, bonds, mutual funds, different things like that. So the biggest issues overall that I've seen is ultimately, if you get stuck with a bad upline, that can be, you know, the kiss of death from the very beginning, you're going to have low comp to start off with, usually, which makes it a lot harder to be successful and actually make an income when you're first starting. And then also it's very, very heavily recruiting based on. So if you're not comfortable with recruiting people and bringing people into the opportunity and team building and you just want to go out and sell policies, then Primerica may not be the best fit. So with that being said, that's going to wrap up this video.