Primerica Financial

[inortt]

Кто-нибудь имел финансовые дела с этой организацией? Какие "подводные камни"? Что полезного можно получить от них? Если есть "бока", то какие? Можно в личку, если нет желания свое мнение оставлять as public.

P.S. То что Primerica - это MLM, и так понятно.

Thanks.

[ereksa]

RUN !!!

[inortt]

RUN !!!

ok, что вызвало недовольство?

[ereksa]

RUN !!!

ok, что вызвало недовольство?

well long story short: I have friends who have been "working" at the compnay for a while. I learned myself that if you want to ruin your financial stability accept services from them, if you want to be a lifelong bum enter their MLM.

In all other cases. GET A REAL JOB AND MANAGE YOUR DOLLARS YOURSELF

[inortt]

вопрос не в том, чтобы работать у них, а в том, чтобы с их помощью оганизовать кое-что из своих финансов. Может я не понимаю что-то?

[akela]

вопрос не в том, чтобы работать у них, а в том, чтобы с их помощью оганизовать кое-что из своих финансов. Может я не понимаю что-то?

ну тогда наверное имеет смысл обсуждать какие-то их конкретные продукты?

[inortt]

вопрос не в том, чтобы работать у них, а в том, чтобы с их помощью оганизовать кое-что из своих финансов. Может я не понимаю что-то?

ну тогда наверное имеет смысл обсуждать какие-то их конкретные продукты?

Так все-таки есть что обсуждать? Они предлагают объединить RRSP, RESP, моргиж, Life insurance, еще что-то в один большой пакет и за счет перераспределения ставок и процентов сделать общее предложение выгодней, чем каждое отдельный продукт, если его брать просто на рынке.

[akela]

Так все-таки есть что обсуждать? Они предлагают объединить RRSP, RESP, моргиж, Life insurance, еще что-то в один большой пакет и за счет перераспределения ставок и процентов сделать общее предложение выгодней, чем каждое отдельный продукт, если его брать просто на рынке.

что пакет выгоднее чем набор их же продуктов по отдельности, запросто верю.

Если же сравнивать с лучшим из того что имеется на большом рынке, то сильно сомневаюсь.

Для предметности можно посмотреть, например, какие мьючуал фандс они предлагают для RRSP & RESP. Какие у них MER, какие trailer fee, какие ограничения по выемке денег и пенальти за их нарушение. И что радикально поменяется если это консолидировать вместе с моргиджем/страховкой.

[inortt]

Для предметности можно посмотреть

Ok, будем смотреть, спасибо за мнение, akela.

[ereksa]

Their main focus is not to sell is but to recruit or to sell + recruit. More than 80 % of their sales targets end up being their recruits. A successful Primerica associate can stay successful only if he/she combines sales with recruitement. Now you decide you want to deal with such a company and people or not ...

[inortt]

Their main focus is not to sell is but to recruit or to sell + recruit. More than 80 % of their sales targets end up being their recruits. A successful Primerica associate can stay successful only if he/she combines sales with recruitment. Now you decide you want to deal with such a company and people or not ...

got your point, ereksa, Thanks, Just trying to find out the best solution for those kind of products, since it's unclear for me:


Slides from them

[ereksa]

Look

1. they are not the only ones on the market offering term life insurance, moreover they are one of the least affordable ones in terms of term life insurance, they claim that their fine print is the best for customers, with fewer catches but I find it a joke.

2. banks and reputable financial institutions have only very few mutual funds in their portfolio, Primerica have thousands. They proudly advertise it, I would have hid it. Because banks try not to deal with unknown mutual funds, the very risky ones. And using fabricated numbers from these mutual funds they will assure you that <insure part, invest the rest> strategy will build your money up. They often use for this <invest in 10 % guaranteed mutual funds and there you go you get this you get that>. Let alone THEY ARE NOT ALLOWED by IFIC (Investment Funds In Canada) license to tell anyone that any mutual fund is guaranteed. IFIC strictly regulates what a person selling mutual funds CAN tell and what CANNOT tell. Most if not all of them act illegally to make their sales target. There is no such thing as guaranteed mutual fund.

So yes on the paper everything looks great, but talk to real people who made money last 10 years with them (if you can find any).

It's becoming more and more impossible to make money in financial industry and yet these people assure you they can make you financially independent.

Now on the other side of the story. This is even funnier.

Most (if not every) Primerica Advisers are working part time, JUST BECAUSE that work if done full-time is not providing them with enough money for a living. I would never trust my hardly earned dollars to a guy who does his job on a part-time basis. Would you trust your car to a part-time mechanic or your health to a part-time doctor? I rather not.

Also most (if not every) Primerica Advisers have only one license called LLQP (that allows them to sell Life Insurance in all Canada, except Quebec, it stands for Life License Qualification Program). For me, a software developer and a person knowing very little of insurance business the successful examination took only 1 week of evening, after work study. I did that just to understand how hard/easy the topic is. And what's funny I got the pass mark with honors. How easy could that sound?

And yet only 1,2 out of 10 recruits pass this exam from the first try. 6 out of 10 try several times and leave finding the industry too hard for them. What a joke.

Some Primerica Advisers have also IFIC license. And please note not all of them, certainly that should be a regional leader, very few regular representatives have IFIC. And IFIC that allows them to sell mutual funds is another primitive BASIC financial license that I would assume anybody who addresses my finances should have as a MUST. But not the case here.

For instance in banks you need IFIC and CSC (Canadian Securities Course) to move from a teller position (customer service representative) to the next position (some banks call it personal banking officer, some account manager, some financial services representative). Basically for a bank to trust you to manage somebody's finances at a very basic level you must have those licenses. Let alone pass several security screenings and checks. And these guys yes can sell you mutual funds (which again as I stated are limited, because banks do not want to risk their reputation and deal with risky funds), but these guys won't manage your finances. If you need your finances to be managed you would be asked to meed a Financial Adviser or something of that sort

Financial Adviser is another level up in hierarchy. To become a Financial Adviser banks would rather see you having CFP (Certified Financial Planner) certificate, something that takes some guts, brains, commitment to study and pass the exams and get a license and some banks would even rather see in addition a formal BA or something degree in Finances or Banking. In other words this is already starting to get into serious league. It's not a corner guy who delivers pizzas and sells mutual funds, both part time.

I have dealt with thousands of Primerica agents at different levels (I know even several regional Vice Presidents) but I have never seen a guy who has these titles and formal education in Finance. It's not required by the company, why should they do it? Not to mention that few if any of them have intellect enough to do it if required.

Anyways long story short, I would never trust my finances to non-adequate, part timers.

[werter]

мне интересна от них term life insurance
на себя и на свю жену.
ценник разумный.

может кто знает альтернативы ?

[akela]

Slides from them

для меня выглядит как передёргивание почти в каждой строчке.

Взять к примеру retirement инвестиции (которые на американском языке именуются IRA).
3% ретёрна у "другой конторы" сравниваются с 10% у примерики. Спрашивается, с какого перепуга?

Whole life insurance у "другой конторы" сравнивается с term life insurance у примерики, т.е. это опять-таки совершенно разного типа продукты.

[3ABXO3]

мне интересна от них term life insurance
на себя и на свю жену.
ценник разумный.

может кто знает альтернативы ?

Это совсем неразумные цены.