| Any Questions I Should Ask of Primerica? |
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Nishima
Member
Cash: $ 3.00
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Joined: 28 Nov 2006
Location: North Carolina
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| Any Questions I Should Ask of Primerica? |
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Okay, a cooworker of mine talked me into letting him come over to my house tomorrow as part of his insurance sales licensure/training procedure.
He told me he needs to do 3 sessions with this other guy as part of his training and wants me to do my best to ask tough questions about insurance / investments. This is not just for role-playing. They will be actually trying to sell me on their insurance, IRA funds, etc.
#1 - I actually am in the market for life insurance. I have almost zilch in insurance, I am the primary bread winner, and we're about to adopt a child next year. I would like my wife to be able to pay off the house at a minimum were I to keel over. I currently have 1 x my annual salary plus a $25,000 policy. The 1 x my salary is going to be lost by the end of the month when my company changes ownership.
#2 - I would not mind a money market account and/or Roth IRA. My company is getting very small and we're about to change ownership. We're 99% certain we'll be losing our 401k match. I can still contribute to the 401k I'm sure, but without the match, a Roth IRA may be better. (I'm 29 years old.) My 401k is with Vanguard and I've quite happy with them. One question I guess would be why go with these guys, when I can open one with Vanguard?
#3 - I found out the company is Primerica Financial Services. I see some good things about their insurance (Term Life) on the web. I also see a lot of things that make me hesistate. Bad mortgages, comparisons to MLM companies, fees, etc.
So...he asked me to ask tough questions so he would be prepared to answer them in his own future client meetings...any suggestions?
Last edited by Nishima on Mon Mar 05, 2007 12:19 pm; edited 1 time in total |
Fri Mar 02, 2007 8:06 pm |
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ap76
New Member
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Joined: 06 Mar 2007
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| Insurance needs analysis |
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I agree, it is hard to know what questions to ask without actually hearing the sales pitch but a few good areas to concentrate on:
Ask him how to best determine the amount of insurance coverage you need (life insurance needs analysis vs. human life value approach, etc)
Ask him for specifics in why he would recommend one particular kind of product over another (term vs. VUL, etc.) the answer you are looking for here should be all about your particular situation and needs.
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Tue Mar 06, 2007 5:25 pm |
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TomG
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Location: San Diego
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Ask him how his program compares to other programs.
Tom G
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Tue Jun 16, 2009 7:39 pm |
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vaduvala
Senior Member
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Primerica IS a legitimate company. In fact, they are a publicly-traded company on the stock market, and have operated for decades, helping people with their life insurance needs. Further, people DO make money in a Primerica career.it's a multi-level marketing (MLM) company for finance. Primerica employs, according to their prospectus, over 100,000 representatives who go out and sell financial products like term life insurance , mutual funds, life insurance, and annuities.
Primerica is a good option if a customer does not have enough time to manage investment account and would rather have a company do it for them for a chunk of the profit that is made from the account.Co-workers and leaders have no professional experience and no leadership or market knowledge. Too much focus on recruiting and no focus on skill building. Everyone wants to recruit so their recruits can set appointments for them.
what is a telecom technician? - Fieldengineer
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Wed Dec 15, 2021 9:07 am |
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Deen888
Senior Member
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Joined: 14 Feb 2018
Location: Los Angeles
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Primerica is good, and every insurance has its benefits, no matter if it relates to health or not. While choosing one, please make sure that it has good customer support team, I picked mine only due to allstate customer service and I never regretted about my decision.
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Wed Feb 23, 2022 8:52 am |
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