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A friend of mine is a rep for Primerica, which is owned by Traveler's
Group. Traveler's was acquired by Primerica several years ago. Sandy
Weil was and is trying to create a financial superfirm, with the
ultimate goal of surpassing American Express, or even purchasing them
outright one day. Weil was previously an exec with Am Exp and doesn't
harbor good feelings for them from what I have read.
Primerica was originally the term insurance company AL Williams, started
by the ex-teacher/football coach turned insurance man. The idea of buy
term and invest the difference is solid, do the numbers and you will
agree. Their product is not the cheapest, but it offers good value for
the $$. The company is organized in a multi-level type structure, with
sales reps having two jobs, selling and recruiting. Compensation is
based on not only your sales, but the teams as well. As far as their
funds being high-fee, and underperfoming, I have no opinion. All I will
say is that the majority of the American public needs someone to manage
their money, which is why we have fee planners, load mutual funds,
etc.... The people on this forum are not "typical" financial
consumers. It is usually the highly informed that criticize operations
like Primerica. But the critics are not the ones in need of the
service, the uninformed are. And let's remember that the majority are
too lazy to learn about finances, so they appreciate the help and pay
the fees. Primerica is different from most however, because they
educate their clients to manage their own lives and make their own
decisions, with coaching from them of course. The roots of this company
often come back to haunt it, and the other insurance companies spend a
great deal of time trying to slander them and paint a negative image..
My friend does well for herself, and she feels good about the people she
is helping. Don't let propaganda from the media and insurance industry
paint a negative picture of this company, do your own research.
Remember, the insurance industry wants us to buy whole life products,
annuities, etc... NOTHING BUT A RIPOFF!! Might as well burn your
money.
I am not affiliated in any way with Primerica, this commentary is simply
my opinion on, and experience with the company and its agents. I do not
own any Primerica products, although certain members of my family do.
Hope this helps,
Mark
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