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| − | I have been to many multi-level marketing recruiting meetings for many years. I consider myself to be an open-minded individual, so I do not mind conference with the employers and truly learning exactly what the business is everything about. It assists that I don't have much desire to follow the crowd and do not have a issue saying no or leaving when I realize it is not exactly what I was interested in.
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| − | I met with someone from Primerica a few months back, and just got a call from a various employer a couple of days back. Given that they appear to be growing, I figured I would share my ideas and see what everyone else believes.
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| − | Primerica Pros
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| − | I was intrigued by Primerica because, having actually worked in banking and presently working in the brokerage market, I understood that they were providing a important service to their customers. Primerica is a divison of CITI, among the largest banks worldwide. Citi offers almost every financial product under the sun and they use Primerica as a sales force of their lots of products.
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| − | What I think is great with Primerica is that their objective is to assist their clients use their current income and shift things around liberating additional money to money retirement and other cost savings goals. In the example they revealed (I am not sure if it was the average American's monetary circumstance) they refinanced the clients home loan and switched them from a cash value life insurance policy to a term policy liberating $500 a month. They then take this $500 and show them how to make good use of it by purchasing mutual funds for retirement, saving for college, etc.
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| − | The reason they can work with anybody is due to the fact that they have a computer program that does the encouraging for them. The Primerica representative gives the computer particular information about the consumer's financial circumstance and it spits out what they call an FNA ( Monetary Evaluation). This analysis shows the rep and the customer how they can save money and what they ought to put that additional money in the direction of.
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| − | I was pleasantly shocked to learn that they motivate their clients to pay their home mortgages twice monthly instead of the traditional monthly payment. This results in thousands of dollars of cost savings over the life of the loan. In addition they offer term life insurance instead of entire life, despite the fact that insurance business make a lot more cash off of whole life than they do term. I am not naive to believe that they are doing this from the goodness of their hearts (public business that huge normally have one thing on their minds: putting money in the investors pockets).
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| − | Coincidentally or not, this appears to be rather of a win-win. CITI is willing to make a sacrifice and make a bit less cash on a few items in order to free up the customer's money that will likely be invested in other CITI products.
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| − | Primerica Cons
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| − | They are still a multi-level marketing firm. The problem I discover with numerous MLM's is that many of them persuade and press individuals to sign up with-- personally, nothing turns me off quicker than when I seem like I am being pressured into something.
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| − | I did not join them so I don't have a complete understanding of how they earn money. My rep stated something about there being four methods, but seemed to purposefully keep it obscure. From what other Primerica reps have said, a lot of money is made from hiring people instead of offering items-- and it is hard to make much money if you don't recruit a lot of individuals.
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| − | The commission payments are lower than other salespeople in the market. My assumption is that because they aren't searching for monetary proficiency when hiring, they can escape paying lower commissions. Numerous of the representatives worked with would not have the qualifications to work lots of other locations in the market.
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| − | If you do leave and stay in the industry, they have a non-compete provision for 2 years within a 50 mile radius of your address. If you leave, you have to leave behind the clients that you worked so tough to obtain in the first place. Probably normal in the industry, but something to bear in mind however.
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| − | [https://www.youtube.com/watch?v=87x-rnij1AA primerica]
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