So you've just taken the leap and became a team member for Primerica, or you're thinking about it. Maybe you've been a part of the business for a while and you haven't quite got to where you need to go.
My mission is to give a review of Primerica and the business opportunity it presents. The good the bad and the ugly if there is an ugly. My background is financial and I have a lot of direct experience in the financial field and network marketing.
What is Primerica?
Primerica is an MLM financial company with a focus on insurance sales. Part of their product/service line includes debt restructures and investment planning offering a miminal options for mutual funds. They've been established since the 70's but have really taken off in the last 10 years. Their primary target is middle aged mid class clientele.
Term insurance is the primary product sold through Primerica.Which is probably the best kind of insurance for your money's worth. The insurance is mixed with investing into mutual funds at the same time, usually called a Universal Policy. Debt consolidation is something that's more recently been added to their company as the economy has pretty much demanded it.
The Opportunity
As long as MLM exists it will always be criticized by the general public, which is a huge barrier to entry. Even though it's still a proper and legit business to make money from.
You need to build a team and clients. The reps you can't recruit are usually the people you try to turn into your clients, through term insurance, investments or debt consolidations. A good position to get to is District Leader. RVP is one of the highest levels to reach in Primerica. At that level you make over six figures and you're a full time Primerica business owner.
District Leaders can be extremely hard to produce on a consistent basis, mostly because of the nature of network marketing the financial industry. The biggest wall representatives face getting into the finance world is building the trust of clients they have as you're dealing with one of the most prominent things in someone's life, their money.
It's difficult to build contacts in the financial world without having and prior experience, especially in mlm. In order to begin this business you need to get your insurance and mutual funds licence which can be difficult for those not academically sound. The last thing reps starting out are thinking of is lead generation when that should be their number one goal. Between a full-time job, passing the testing and learning the business so you know what you're talking about is a lot of work for reps starting out.
It's a great idea to have a plan in place so that you have a direction in your business. I personally generate all my leads online and use the power of the internet to its full potential. If you think you're the next RVP super star of Primerica check out my links below for a little bit of help.
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