An Honest and Critical Primerica Review (Don’t Join Before You Read!)

An objective review of Primerica from an industry expert

Primerica (formerly known as PFS/ALW) is a financial services company that uses a multi-level marketing model. For over three decades, Primerica has been able to produce many, many 6-figure incomes a year. In the first quarter of 2010, they officially spun off from parent company Citigroup and went public. Currently, the sales force is made up of 100,000 authorized representatives. Primerica is a legitimate business opportunity and has maintained a good rating with the Better Business Bureau.

With that said, the Primerica business opportunity has pros and cons. In this objective review, I’ll break down the pros and cons of the Primerica Opportunity and give you details you probably don’t know yet.

First, I’ll start with the Pros…

1. Primerica provides a unique opportunity for someone with NO financial services experience to come on board and get licensed and trained on the basics of life insurance, mutual funds, variable annuities, and mortgages.

2. Primerica allows people to join part-time, which is RARE in the financial services field. This is a great feature because reps aren’t under pressure to produce because they still have income from their full-time jobs.

3. With the Primerica model, unlike other MLM opportunities, someone who just wants to market financial products can earn a decent income through sales commissions.

4. Primerica offers a lot of support to their reps…mainly because reps have access to physical offices managed by local RVPs.

5. As stated above, Primerica has one of the best track records in the network marketing industry. Currently, there are about 65 leaders in the US and Canada who earn $1 million or more in income per year.

Now, let’s give you the cons:

1. Product training is basic, which is sad for some customers who are being served by new reps. Personally speaking, I wouldn’t want my children’s education funds, my retirement accounts, and especially my life insurance accounts handled by someone who has a 30-day license and no experience giving real financial advice.

2. Primerica pays a much LOWER commission to reps compared to what they could earn if they were an independent financial services rep.

3. You are a CAPTIVE agent at Primerica. This means that you can ONLY sell Primerica products. While offering only Primerica products may not be a bad thing, as a financial representative, you have a responsibility to your customers to purchase the best possible products for them. While shopping around is common practice for Independent Representatives, it is strictly prohibited on Primerica.

4. As a marketer, you will lose about eighty percent of your incoming recruits due to licensing exams. Company statistics indicate that ONLY about 20% of incoming representatives pass their life insurance exams. So what happens to the left over 80%? Well, they basically end up leaving the business. Imagine working hard to build a team that was recruiting 100 new reps a month. Now think about this, 80 of those 100 were people you couldn’t even build a business with because they couldn’t get through the licensing process.

5. This is an important part of the compensation plan that is not shown in the presentation. When you get promoted to RVP, you give your best to your upline RVP. This is known as the “exchange of ownership or replacement.” Imagine, working your butt off to get to the top position, then quitting your BEST leaders and starting the building process all over again… Only this time, as Regional Vice President, you have office expenses to think about. By the way, Primerica requires their RVPs to be full-time and prohibits them from earning money elsewhere. This is extremely important to know if you are seriously considering the Primerica Business Opportunity. Because if you want to generate multiple streams of income, you won’t be able to once you get RVP.

In closing, Primerica is a real business opportunity that someone can jump into and learn about financial services and how to build an MLM business. Just be sure to do your research on the products and compensation plan so you know exactly what you’re getting into.

So… should you join?

If you’re looking for a business that doesn’t require HOURS of financial product training, the likelihood that you’ll lose a ton of people during licensing exams, and the fact that you have to give your upline your best leaders, then Primerica is definitely not for you. is for you.

However, if you like the idea of ​​recruiting agents (and are okay with a super-high attrition rate) and building your agency with the opportunity to qualify to open your own Primerica office, then Primerica may be an opportunity for you. should explore.