Are you exploring Primerica career opportunities, but you aren’t sure if it’s all it’s cracked up to be? If you’re looking for answers regarding the pros and cons of the company, you’ll want to read this article to explore the truth about Primerica.
The Truth About Primerica
For starters, Primerica is owned by Citigroup, which is is fact one of the largest banking and financial institutions in the world. However, it’s a well-known fact that Citigroup has been in financial straits, and recently reported an $8.29 billion fourth quarter loss in 2008. Obviously, this brings into question the solvency and solidity of Citigroup, as well as questions of potential career upheaval and job losses in the near future for Citigroup employees.
Primerica Career Opportunities
Well, the good news is that when you go to work for Primerica, you really aren’t working as an employee of the company, but instead as an independent representative. Here’s a direct quote from the Primerica website:
“Primerica representatives are independent contractors, not employees of Primerica or its parent company Citigroup.”
That’s not necessarily a bad thing; if you’re interested in the Primerica career opportunity because you want to be your own boss and work your own hours, this is a definite plus.
However, there is a certain amount of risk involved, as the current instability in Citigroup could have unforeseen repercussions on it’s Primerica division in the coming months and years. There’s really no guarantee that things won’t change drastically as Citigroup regroups and restructures due to the recent government scrutinizing of the company’s management and direction.
What You’ll Be Doing In Your Career With Primerica
Primerica is a financial services company, and sells financial services products. Here’s another direct quote from the Primerica business opportunity website:
“The Primerica business opportunity involves the sale of term life insurance and other financial services products such as mutual funds, variable annuities and debt consolidation loans.”
Essentially, you’ll start off at Primerica studying for your insurance license, which is considered to be the “easiest” license to get in the financial careers sector. However, as a Texas-state licensed health and life insurance agent, I can tell you that the licensing in most states is no cakewalk. You are going to have to study your tail off, and there’s no guarantee you’ll pass your exams.
And there lies one of the challenges inherent to careers with Primerica… while you’re studying for your licensing exams, you are not going to be making money. And, the licensing process can take months, even for the entry-level insurance exams, and they’re not nearly as daunting as the stock broker exams that you’ll eventually need to take. And, in order to sell the loan products, you’ll also have to take and pass the licensing exams for those products as well.
For some, this isn’t an issue. But for many people who are approached by a Primerica recruiter regarding careers with the company, this is something that they don’t really think about before investing their time and effort with the organization.
Making money is the main reason people look into careers with Primerica. But the fact is, having your income limited for months and even years in some cases (as some people will need to take the stock broker licensing exams more than once before they pass) does not represent the rapid path to financial freedom most people are looking for when they first begin assessing the company.
An Alternative to Primerica
I’m assuming you started looking at Primerica career opportunities because you are attracted to a career in sales – one where you have the potential for a lucrative income, the opportunity to earn residual income, and the ability to be your own boss.
That’s the same reason I looked into working as a Primerica representative. However, I found an alternative to Primerica that offers a similar earning potential, without the need for licensing or lengthy periods of having zero income coming in while you study for exams.
If you’d like to explore the same opportunity I’ve chosen, I encourage you to contact me to find out more about our unique business and to hear the numerous success stories from our many satisfied representatives.
About the Author:
The Network Marketing Maverick helps average networkers build above average incomes through savvy business training and advice that flies in the face of conventional industry wisdom.
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