What Every Future Life Insurance Agent Ought to Know About the Primerica Opportunity

Okay. You were invited and have seen the presentation either at a Opportunity Night or at your kitchen table. What's next?

Primerica Financial Services (PFS) is a direct marketing sales opportunity within the financial industry. Wait. Is PFS a "multi-level marketing" organization? Yes it is. As an independent agent, PFS allows you to directly recruit and develop other sales agents to work in the field, allowing you to leverage and duplicate your time and efforts with earning overrides on sales. Awesome right?

As the name PFS implies, is a financial services organization that is regulated on the state level (for life insurance) and on the federal level (for investments) and thus the Independent Business Application (IBA) is not only just a sign up form but it also authorizes a background check. So, if you are CORI challenged this may not be the best place for success as an independent distributor.

Whether you were presented the opportunity at a meeting or across the kitchen table for US residents the cost is $99.00 which covers the cost of pre-licensing class,background check and resident licensing fees, (for example the state of Massachusetts a life producer license costs $225) plus $25 for the online study guides (unlimited practice exams included) via check bank draft or debit/credit card.

If you pay by any other method like a money order or cashier's check the IBA fee is $199..

As a new associate you have the peace of mind knowing that you may cancel your contract in writing within 120 days and receive a refund for the (IBA) application less a $30 processing fee.

The first major license to maximize early success in your PFS opportunity is the life producers license for your resident state. Schedule your pre-licensing class with PFS University and they will provide the training and materials for you while you get proficient online passing the simulated exams. Log on to Primerica Online (POL) as often as you can.

As you prepare for your license you must seek out a mentor within your base shop (primary office) to learn the culture and how to model your business. Seek a mentor that understands the Primerica Success Formula not only in theory but by actual production and field activity.

Your mentor's early responsibility is to "field train" you by presenting to your warm market as many times possible for you while you earn your appropriate licensing. The Field Trainer will have all the appropriate materials to secure sales and submit your recruits' IBA.

Standard in the financial services industry most new agents often make a name list of their closest 100-200 friends and family which will become your "warm market" As is the case in firms such as Aflac, Metlife, and New York Life the Primerica appointments should be friendly and non-threatening in presentation and sales processes. The trainer is vested in your development.

The key is to study and pass your state's resident producer's license as fast as possible. . Its industry practice for the rookies to split commission sales once licensed for every appointment that a trainer attends with you (the tuition cost of learning the ropes). This will all vary by each individual base shop (local office)

Studying for your exam online is the key towards your success. Libraries or using "hand me down" course exam manuals net little results as state specific laws and regulations change often and thus the information is conflicting. The intial $25 fee for Primerica Online (POL) gives all new agents access to the Life Online Exam Simulator comprised of 100 multiple choice questions with the same fell and look as the actual state exam test site. Primerica claims that 8 out of 10 new agents who use the Life Online Exam Simulator and pass the BONUS questions with a 80% score (additional 100 questions after you score a 70% on the simulator) get their license.

Once you pass the state test and are issued a license through your state Primerica will cut you a check for the cost of the testing fee.

If you want to read or research any negative issue with this opportunity, just google "Primerica recruiting".

Why is it such a NEGATIVE issue?

New ebook reveals why the majority of Primerica agents fail in their business opportunity... Click Here!

To be fair. This is a sales organization. If you ever stereotyped a "used car salesman" you are not alone. Fact, some representatives in PFS are just plain cheesy and obnoxious (Isn't that the ONLY reason why YOU CHECK the CALLER ID?????) All sales professionals need a constant pipeline of prospects or in the case recruits. It is the life blood.

PFS agents have a unique and yet a very common way to build a business. PFS agents are allowed to earn income through overrides on the sales of agents that they develop and train. There is no compensation for "recruiting". Income is earned only through a sale. PFS agents earn PROMOTIONS through a combination of recruiting other agents (downlines) and total sales through their sales organization.

This is is the ANSWER to "Why Recruit"?

THE COMPENSATION IS WAY BETTER!!!!

Compensation is different for all the various products and services.

Promotion is based EXCLUSIVELY on your life insurance production. Compensation is by direct commissions on personal sales and commission override on down line sales.

Direct Commissions payouts for life insurance depend entirely on your PFS sales rank.

Ranks and Promotion
Associate
Representative (1st earned once life licensed) 25%
Senior Representative 35%
District Leader 50%
Division Leader 60%
Regional Leader 70%
Regional Vice President 95%

(Next level )
Sr. Vice President
National Sales Director (NSD)
Sr. National Sales Director (SNSD)

Commission Overrides

You are paid the difference between the commission at your level and the highest level between you and the rep that made the sale. Let's assume that a licensed rep makes a $1,000 sale, you are a district leader, and there is a Senior Rep between you and the licensed rep.

A licensed rep makes 25% of $1,000 in premiums earned on a policy = $250.

A Sr. rep commission on that same volume of sales ($1,000)= $350

The power of leveraging and recruiting other producing agents is demonstrated here. If you were a Sr. Representative at the 35% contract rate and your downline Representative made such a sale.....YOU WOULD HAVE COLLECTED $100 OVERRIDE on that sale if you were asleep or awake. The PFS business opportunity is that awesome.

Now I must warn you. If you are out worked and your recruit (downline) outranks you through earning their own production and recruiting YOU will NOT earn that override. So, no matter when you start your career as a PFS agent, the sky truly is the limit.

Ask any successful leader in PFS and they will tell you the key to building huge wealth in this company is to, "Recruit. Recruit. Recruit."

"the INFAMOUS NAMES list (of all your friends and family)to go out and field train and hopefully recruit and be on your way to a dream lifestyle. Before you do, STOP. Let's assume for a moment that just maybe you have no financial experience and quite frankly you have no credibility.

Over 97% of people in the FINANCIAL SERVICE INDUSTRY will fail to make money or quit within 3 months of starting. Why? Most will run through their friendly warm market list of names and contacts quickly which can be crippling to the unlicensed associate or newly licensed agent.

Learn how to get endless prospects CHASING YOU, literally paying you to work with them... Click Here!

Attraction marketing is based on the awesome concept that you attract customers/clients/recruits that are interested in what you have to offer rather than pursue prospects that may or may not be interested.

For most, in the business of sales, it is a complete turn-around in mindset.

If you were taught the "three-foot rule" which basically suggests that we should share our business or product opportunity with anything that moves and can fog a mirror don't beat yourself up.

"Manipulating" people to do what we wanted rather than what they wanted will get you nothing but short results and lost of time. (It also gives PFS sometimes a bad rep...misleading "job interviews")

Attraction marketing is simply letting people know what you have to offer, and make it convenient for those who might be interested to come to you.

One of the best ways to cut though the competing messages is to develop an audience of people who know, like, and trust you. That's what the various social marketing tools are all about (Twitter, Squidoo, Facebook etc.)

If for example, someone is looking for some advice on where to find a job in there area because of an issue they might be having, they will start searching through the Internet for answers.

They are naturally going to be attracted to the person(s) who demonstrates a significant amount of expertise, often by offering significant amounts of advice... and usually for free via articles, blogs, and other forms of social media.

Take this time to learn and develop this mindset. It will help you attract the right types of people who want your help and move you closer towards your income goals.