From Atlanta, GA — 09/22/2009
Some of the comments below are misplaced. Allow me to clarify on some things as a former Primerica Senior Regional Manager from years back.
PAY-----It's commission-based, but so is every other job in some respects. If you don't show up for work, you don't get paid. There's nothing hard to understand about that. Same thing at Primerica and every other incentive-based company on the planet. If you aren't selling, you're starving. You walk in the door to recruitment meetings not really knowing this sometimes, but you probably weren't paying attention over two hours if you don't understand this when you walk out.
By the way, I currently own a Web development company. Guess what, I'm not on salary here, either.
RESPECT-----For the most-part, you get what you give. As with any other company with over 150,000 employees and reps, you're bound to run into a few people with whom you just don't get along. Some people here had bad experiences. Suck it up.
JOB SECURITY-----You literally have to break the law to have your contract terminated with the company.
WORK/LIFE BALANCE-----Honestly, you'll be going eye-ball to eye-ball with people across the kitchen table mostly during the evenings. This is primarily for two reasons: (1) If you're new, you probably have a day-job, and (2) Your prospects probably have day jobs, too. Once again, it's the nature of financial sales. If you don't like it, set lunch appointments and abridge your sales presentation.
CAREER POTENTIAL/GROWTH-----This is based entirely on your ability to recruit a team and duplicate yourself. This does not make Primerica a "pyramid". It is a General Agency system like Allstate, and you can recruit people to override [their sales] upon achieving certain benchmarks. "Recruiting" does not make Primerica a pyramid. The ability to override sales don't, either. The company already earmarks about 100% (or more) of the first year's premiums from insurance sales as commission. EVERY insurance company does this. It's years 2 through 7 that the insurance company expects to make money. Additionally, the SEC, NASD, and state insurance commissions have laws against allowing securities and insurance products to be sold through "pyramid" structures. In other words, PRIMERICA WOULD BE BREAKING THE LAW IF THEY WERE ACTUALLY A PYRAMID. Once again, they are a General Agency system like Allstate, State Farm, Prudential, etc.
LOCATION----Irrelevant. If you can talk on the phone and drive to get a signature and pick up a check, you can sell and make money.
CO-WORKER COMPETENCE-----All over the board.
WORK ENVIRONMENT-----All over the board. You can either end up in a great office with great people or a crap office with crappy people. Just remember, it's your choice to sign the paper work to become part of a particular team. Be smart and get to know the people over a few weeks of visits before joining THAT particular team.
ONE LAST THING----Yes, you must pay your own licensing fees. Yes, you must absorb the cost of your marketing materials. Sorry, but many financial services sales organizations require this. I even worked for a printing company once where we had to pay for the samples that we used...and I wan't working on commission there, either.
Additionally, it is ridiculous to even suggest that you are "paying to go work for Primerica". No, you are paying for licenses that are portable should you ever decide to work for another financial services company. Primerica doesn't strip you of your license once you leave. You are LITERALLY paying for YOUR licenses.
As to Primerica's products, if they pay an insurance claim when someone dies, then it's a great product, isn't it? If you invest a few-thousand dollars which later becomes tens-of-thousands of dollars, then it was a great product, right? No, Primerica products aren't the cheapest, but the companies that offer the cheapest products don't have sales reps drive to your house at 7PM to sit with you and your spouse for an hour to review your financial goals or explain financial concepts to you, either. "WWW - DOT -WHATEVER -DOT - COM isn't going to be there for you at 4AM should your spouse dies of a heart attack. Your Primerica rep will.
Hope this helps.