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I plan on giving an overview of Primerica and their business opportunity. The pros and cons of the company. My financial and network marketing background qualifies me to give a proper review when combined.
Primerica Overview
Primerica is a network marketing financial company with a specialization in insurance. Part of their product/service line includes debt restructures and investment planning offering a miminal options for mutual funds. Primerica has been around since the 1970s but they've really had an explosion of success in the last ten years. Their primary target is middle aged mid class clientele.
Primerica sells mostly term insurance.Which is probably the best kind of insurance for your money's worth. The policy is blended with mutual funds to invest at the same time, 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 MLM
The business opportunity that representatives enrol into is always going to be criticized because it's a multi level marketing company, which is a huge barrier to entry. Even though it's still a proper and legit business to make money from.
You need to get customers and build a team. When you can't acquire a rep, the idea is to get them as a client, by either insurance, investing or debt consols. District Leader is a good promotion to aim for. A place that's harder to get to is RVP or Regional Vice President. At the RVP level you're making six figures and you pretty much do Primerica full-time.
District Leaders can be extremely hard to produce on a consistent basis, mostly because of the nature of network marketing the financial industry. One of the biggest problems reps have coming into the financial industry is having the trust of their clients or potential clients because you're dealing with the most important thing in people's lives, their finances.
It's difficult to build contacts in the financial world without having and prior experience, especially in mlm. Obtaining your licences to practise selling insurance and mutual funds can be trying when you're trying to build a business, this can also be time consuming. The last thing reps starting out are thinking of is lead generation when that should be their number one goal. When you're not making money in the beginning and you have to pass the examinations plus build your business at the same time, it can be quite stressful.
It's important to have a marketing game plan when getting involved in a business with this much scope. I personally generate all my leads online and use the power of the internet to its full potential. Check out the links below if you need help becoming the next RVP and want to be the next Primerica Super Star.
