Primerica can be a great business opportunity or your worst nightmare. Many have succeeded and many have failed.  It all depends on you.  Just remember, the business does not fail, people fail.

Background:

Primerica was originally started by a former high school football coach named Art Williams, Jr in 1977.  Headquartered in Duluth, Georgia, Primerica is a spin off of its former parent company, CitiBank, through a public offering in April, 2010.  It currently employs more than 100,000 independent representatives in the United States, Puerto Rico, Spain and Canada.

Products:

Primerica’s representatives sell financial products like term life insurance, mutual funds, life insurance, managed accounts, pre-paid legal services, auto and home insurance, credit monitoring, securities and annuities. All the mutual funds and annuities are sold through Primerica’s licensed broker/dealer subsidiary, PFS Investments.  Cost around $200 to become a temporary agent with Primerica.

 Pros:

• Clients can buy any type of financial services from Primerica

• Created for Middle-Class America

• Primerica allows business people to start their own business with very little startup

• Helps people pay off their debt and build true savings

• Help everyday people build long term wealth

 Cons:

• Must quit your job to become a Regional VP (No real money otherwise)

• Use the 3 Foot Rule or Friends and Family Marketing Strategy

• Must pass a series of complex securities and insurance licensing test.

• Can only sell in the state you’re licensed

• Extremely saturated in most markets

• No longer backed by Citigroup

 Conclusion:

In conclusion, Primerica is a MLM that sells Insurance and Securities to Middle America.  You can build a legitimate business and set your own hours. If dedicated, you can make some nice money.  The downside however, is that you will use every free minute in the evening and weekends for at least 5 years trying to build this business.  You will need a reliable car, as you will be expected to drive all across town meeting potential clients at their kitchen table each day.  As with any MLM business, Primerica is no different. Time, dedication, focus and realistic goals are necessary to grow your business. You need to stay positive and good communications with your Regional VP. Once started, Primerica could be a good choice for you.

Here’s to your succcess

Bill