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I've got a friend who is thinking about Primerica. I have not heard much about them for years - I know they shifted their focus from "buy term & invest the difference" to more debt management but don't know much recent info.

Have they changed their spots or are they still the same mediocre company? Does anyone know of anyone who is having success with them? They are not publicly traded so I can't get a stock price.

Any info would help & thanks!

Hey kevinraz... I've been battling the AL Williams / Primerica system for years, so I obviously look at the organization from a different view than a new recruit would. That said, the company is owned by Citicorp and is an offshoot of the Traveler's Life Insurance as I recall.

The company is still made up of an army of part-timers. At last count I think it exceeded $100,000 licensed reps. Not all of them are securities licensed, most just fall off the face of the planet after screwing up their own portfolio, and maybe that of a few friends and family members. Some actually stick it out and do significant incomes, but these are the same folks that would succeed at most any marketing (sales) job. My guess is that maybe only one or two percent will still be active with them after a year or two. That's not very good odds, but you can look at the track records of other life carriers and probably find similar success (or failure) ratios. If your friend is good at marketing and sales them he will be a success most anywhere. My recommendation for him / her would be to look elsewhere, as there are many excellent opportunities for such a person... why even consider going with a company that is considered simply a rogue. Poor training, poor products and if they ever get called on the marketing tactics you know Citicorp will drop them and leave the company floundering.

Wayne Lunday, LUTCF, CLU, ChFC

The old A.L. Williams moniker of "buy term and invest the difference" is actually quite sound. The problem is that most people don't "invest the difference" and wind up spending it and screwing themeselves.

They've obviously lost a lot of "recruits" since Williams did what he said he'd never do and sold the agency. That being said, I'd personally recommend that your friend get a real job. If they want to go into personal financial planning, go to work for a real financial planning firm.

Before discounting Primerica, I would suggest you look into its financial standing. Primerica has zero debt and had a net profit of over $500 million in 2008 (or very close to this amount). Please note, this is NET profit - after paying death benefits and its operating expenses.

I happen to be a Primerica rep and am happy to say so. I am a "part-timer" as my career is in the property and casualty side of insurance. My first client happened to be my 28 year old son and 30 year old daughter-in-law. Their term policy was effective February 23, 2009 and my daughter-in-law died suddenly and unexpectedly on May 1. She leaves behind an eight week old daughter, a five year old daughter and an eight year old son and of course, my son. I am saddened by this tragic event however, I was able to deliver a death benefit that will lift the financial burden for a reasonable amount of time.

Primerica has delivered what it promises - you just have to work for it.

I am not a big fan of Primerica because their products are overpriced. I'll echo what Big Dog said and suggest your friend look for a different financial services company if that is what he/she wants to do. It is a tough time to start but Edward Jones has a strong training program and the highest retention rate (7 years) in the industry. Primerica will have you recruiting new employees along with selling products and MLM isn't my thing. While it is easy to badmouth Primerica, they do a decent job of bringing financial planning services to people that are not typically financial planning clients. While their products and agents are not great... it is better to have some overpriced term life insurance than it is to not have term life insurance at all.