Primerica was originally founded by Arthur Williams in 1977. His initial concept was to sell term life insurance policy underwritten by IFA, Financial Assurance, Inc.
The company’s base was established by mass-marketing, which is the concept of “BTID” (“Buy Term and Invest the Difference”).
With “BTID”, Primerica demonstrated how its middle-income customer base could buy adequate protection using term life insurance as well as save systematically and invest in different investment vehicles like mutual funds IRA (Individual retirement Accounts).
Primerica originally spun off from Citi, its parent company through a first public offering conducted on April 2010 and the company has its headquarters in Duluth Georgia. The company operates currently in the U.S, Canada, Puerto Rico and Spain and has more than 100,000 licensed representatives marketing their products all over the world.
Primerica is a publicly traded firm with annual sales totaling over 1.3 billion. The company has been accredited by the BBB, Better Business Bureau, the ACLI, American Council of Life Insurers and the FINRA, Financial Industry Regulatory Authority.
Primerica Review – Products
Primerica markets financial services and products from various recognized companies in the world. They also offer financial advice to all of their clients through the company’s licensed representatives.
Some of thier products include: Term Life Insurance, Auto & Home Insurance, Long Term Care Insurance, Pre-paid Legal Services and many more.
In order to assist families to be able understand better their personal finances, Primerica also provides a Financial Needs Analysis which provides a detailed outline of an individual’s existing financial situation and also proposes a personalized approach for one’s financial security.
Primerica representatives usually help their customers in meeting their term life insurance needs, underwritten by Primerica’s subsidiaries, and annuities, mutual funds, as well as other financial products usually distributed primarily on third parties behalf.
Today, Primerica sells financial services and products through a hybrid model that involves direct selling, distribution as well as franchising. The company’s distribution model positions it uniquely to get in touch with underserved middle-income users in a costâ€“efficient way and it has proven itself both in challenging as well as favorable economic environments.
Because of the successful business model, Primerica’s subsidiaries have managed to insure over 4.3 million lives. Also, about 2 million customers have maintained their investment accounts with the PFS Investments at the end of December 2011.
Primera Review – Business Opportunity
Primerica as an MLM company presents a tremendous business opportunity to many people all over the world, particularly those who work hard and desire to build up a business with a strong potential for income.
For those people who are interested in joining, the cost of joining the company’s business opportunity is about $99. However, for one to be able to gain advancement commission, they have to be a licensed Agent for Primerica to sell mortgages as well as life insurance.
Primerica compensation plan provides a number of ways in which their representatives are able to earn money. These include: Commissions earned on Product Sales Override Commissions earned on new registered licensed reps, and Advancement Rank Levels (ARL) up to (RVP) Regional Vice-President Level.
Generally, the average Regional Vice-President earnings are usually higher. The gross cash flow among other factors is usually dependent on the scale and size of the organization of a representative, sales number and the override that is spread on every sale, and your efforts and ability as well as that of your downlines.
Before one decides to join the business opportunity, it is important for them to study the compensation plan very well. This will enable them to understand how payments are done and where they need to focus most of their effort and time so as to get maximum return on their investment.
Primerica Review – Success Blueprint >>>
In conclusion, Primerica is a company that is legitimate with legitimate products and services that many people benefit from. With an extensive history of solid reputation, and over 100,000 licensed representatives with around 10% of them earning 7 figure incomes.
For one to be successful in the business of network marketing, it is important that they learn to connect with as many people as possible, so as to increase the chances of signing new reps into the business opportunity.
A good way to do this is via the internet using an attraction marketing system, as this will allow you to reach a much wider audience, and will put your business on the fast track to success.
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