Saturday, December 6, 2008
What about Primerica?
This multi level marketing based company is active on Canadian market for some 20 years. Loved by somebody, hated by somebody else. If you want to start your successful(???) career there,I recommend you to read some articles from (ex)agents of Primerica.
I am here to present you some disadvantages of their PRODUCTS. And since I am insurance broker, it will be about their life insurance.
I have some experience in business (16 years are enough I think) to stress some points
1. Primerica is expensive. Their MLM structure causes additional costs, paid by - you. Your premiums will carry the weight of pyramid of advisers. So before you apply for their policy, check some online quotes, for example at life insurance Canada
2.Term life fits all - at least when talking about Primerica. But not in the real world. Term life is good, often the best, but sometimes permanent policy fits your needs better!
3.Captive agents. They are not going to offer you the complete market range of products. They know what their company offers and you will get no other option.
4.Part time advisers. Do you want your surgeon to be just part time worker? No, I think you would like him to be dedicated to his job. And the same with insurance - financial markets often need precision of a brain surgeon!
5. Non-convertible policies. Primerica is not going to give you the option of turning your policy into permanent. So if anything happens to your health, you have a big problem with your policy's renewal.