Monday, November 24, 2008
Primerica is separate identity of Citigroup. Whatever happens to Citi has no affect on Primerica. Primerica is a fundamentally strong company and it is destined for greatness.
Saturday, November 22, 2008
If I did not meet this person, her husband would only get $52,000. How long will this $52,000 last? They still have a mortgage to pay, the kids are still very young, and have other bills to pay as well. This $52,000 would probably last at most one year. But with $250,000, this paid off the mortgage and there was still $20,000 left over. With no more mortgage payment, this family is not in a financial mess.
Why I'm writing all this? Its because there are many families out there who don't have life insurance. Those who do have life insurance are very likely not to have adequate coverage. I've been looking at the ACLI 2008 Fact Book and the number of policies being issued and in force has been on a steady decline. But the interesting fact is that the total coverage on individual life insurance policies has been increasing. Even more interesting is that the number of life insurance companies in United States have been declining as well since 1985 (where there were 2261 companies). By end of 2007, there are only 1009 companies left. By the end of 2008, I assume there will be less than 900 companies.
Friday, November 7, 2008
Monday, November 3, 2008
1) They heard Primerica is a scam and they believed it. Even though they saw the company overview or the opportunity meeting, they go home and tell everyone about it in their own words. Guess what their friends or family are going to hear: "Primerica = life insurance = something FNA = $99 to join." OR they do "research" online and see several forums or blogs saying that Primerica is a scam. Forums or blogs have no true credibility behind them and if you wrote a paper about Primerica and you listed these websites as your reference, your professor will either give you a "F" or make you get better references. I don't even you recommend you listing my blog as a reference, even though I'm a Primerica representative.
2) Their friends and/or family members say they can't do it and so, they make themselves believe they can't do this business. I believe everyone can do this business if they are given the chance. When I started, I was the shy and quiet type. I thought to myself there's no way I can talk to people. Now, you can't shut me up. If my new business associate says he or she can't do it, I would point out the facts. One, they don't have any experience. If you started a new job, were you confident enough to do your job correctly or were you nervous? My solution to this challenge is get the new associate out in the field and witness a presentation. Doing the presentation is simple and easy and once they see how its done, they could see themselves as being able to do it too. I felt confident after witnessing a few presentations done on various clients.
3) The upline didn't stay in frequent contact with their new business associate, so the business associate doesn't see value in this business and feels neglected. Communication is vital in this business. If my upline didn't stay in frequent contact in the beginning, I probably won't be in this business. Today, I'm calling my upline more than he calls me for advice on certain matters.
4) They fail the pre-licensing exam (PFSU) and/or the state exam and thought it was the end of their career. If you were applying for a job that requires a certain license and you fail to get it, you would be fired. In Primerica, this isn't a job. Its your business and it doesn't matter how many times you fail. Its the number of times you succeed that matters.
5) They want instant results, which is not even possible in the real world. Building a business requires patience and time. You can't build a city over night. You need to put effort into this business and have some people help you expand it. The work you put in now, results will come in 2 to 3 months.
6) They didn't go to weekly training. You can't succeed in this business if you don't go to weekly training. Thats like competing at an event and having no clue what to do. If you never played golf before and you never went to practice and you were competing against golf player who did practice, do you think you can actually win?
7) They weren't coachable. Only the person can change him or herself. If they don't want to listen or follow the system, there's nothing anyone can do about it.
8) They won't change themselves to make improvements in their life. There are people in this world who don't like change. They don't like to get out of their comfort zone to make their life better. If you want to improve yourself, you have to make certain sacrifices. For example, if you want to look fit and be healthy, you would go to the gym instead of watching TV. You would eat less junk food like potato chips and more healthy foods such as an apple.
In conclusion, not everyone is going to join Primerica. Everyone who did join Primerica, some of them are not going to stick around long enough to see success. Those who do stick around and continue to fight for their future will see success.
Tomorrow is election day in the United States. On my ballot, I see at least 10 people running for President. In America, every legal citizen of legal age (I believe the legal age is 35) can run for President. Not everyone is going to do it, but they are allow to do so as long as they meet the requirements to be the President. I'm not going to tell you who I'm going to vote for, but I'm going to vote for the person who can lead this country in the right direction.
Thursday, October 23, 2008
1) They don't diet.
This is very true for me. Its not the amount of calories I intake, its the choice of food I eat. Base on several studies I read, most diet plans don't even work. Diet food is one big scam. Even though its less in calories than regular food, people tend to eat twice the amount of it. Since it says "Diet" on it, it makes people feel good to they think they on track to a healthier life style.
2) They keep track of their weight.
I do this about once a year because I'm curious. Year after year since high school, I still weigh the same.
3) They exercise regularly.
Ha! I haven't exercise since high school.
4) They don't solve problems with food.
What they mean by this is that people tend to eat when they are emotional such as being depressed, upset, or angry. I take perspective of problems that arise and figure out what I can do to make the situation better.
5) They stop eating when their full.
This is very true for me. While some people like to finish everything off their plate, I stop when I feel full. Plus, I don't like the feeling of being overly full or "stuffed."
6) They don't surround themselves with temptation.
Is your kitchen surrounded by lots of junk food? Mine isn't. There is some, but not a whole lot.
7) They allow themselves treats.
Mmm... I love chocolate and I do eat a couple pieces of it about 3-4 times a week.
8) They eat breakfast.
I eat breakfast every day, except Sunday. I usually sleep until 11AM on Sundays, which is basically near lunch time. The article state that 80% of successful weight losers eat breakfast every day and within 1 hour of waking up. Your metabolism doesn't start to kick in until you put food into your system.
9) They move, stand, and fidget more.
I never notice this, but realizing what I do every day, I do move and stand often. As for fidgeting, I don't I do that unless I'm nervous.
10) They don't skip meals.
I eat 3 meals a day (except for Sundays). Breakfast around 7AM. Lunch between 12PM to 1PM. Little snack around 5PM. Then dinner around 8PM-9PM. If you don't eat anything for more than 6 hours, you slow down your metabolism.
If you don't know what metabolism mean, it basically means that your body breaks down whatever you eat to create energy. Energy that is vital for your body to function properly.
Sunday, August 17, 2008
During the week I stayed in Canada, the currency exchange rate was $1 US = $1.10 CAD. So one US dollar is worth $1.10 in Canada.
Anyway, I did use my credit card for many of my purchases. For example, on my receipt from Canada, it says $47.22 (CAD), but on my credit card statement, it says $45.71 (US). If I paid by cash, I would of paid around $50 (US).
Tuesday, July 15, 2008
Today, the DJIA fell below 11,000 points for the first time in over 2 years. What is an average person such as you and myself to do?
I'm no financial planner or investment advisor, but I would not let fear take control over my decisions. When prices of stock or shares of mutual funds are falling, what is the initial reaction for most people? They think "Oh my god! I'm losing money. I need to sell everything before it goes any lower and put it in the bank or under the mattress." By pulling out of the stock market, you are accepting loss. By not pulling out of the stock market, you are not accepting any losses. You will only realize your gains or losses when you actually sell your shares. Right now, the price per share or stock is low. What are your choices?
Well, this is what I would do. Though, I'm not hinting that you should do what I would do. I'm just saying this is what I would do in time of this crisis and my logical reasoning behind it
1) As a young investor and where retirement is 30 plus years away, I would continue to invest and to buy as many shares I can afford. I know that the stock market will worth more in 30 years than what it is today (base on the past history of the stock market in the past 50 years).
2) If I was a mature adult, say someone in the upper 30's to early 50's, I would still coninue to invest, but making sure my investments are diversified. I still have some time left to save money for retirement, so I wouldn't worry about the stock market conditions.
3) If I was retired, I wouldn't be investing at all. I would be withdrawing money from my investments. But I wouldn't withdraw too much during this time until the market is performing well. So I would watch my spending habits closely. After all, I don't want to outlive my money.
As any investment expert would say (again, I'm no investment expert. I just do what is logical), the best way to lower your risk to market exposure is to follow the 3 D's.
1) Diversify your investments. Don't put all your money into one company or one sector of the economy.
2) Be discipline. Don't let fear take over judgement and logical reasoning.
3) Dollar cost average. Invest on a monthly basis. This is a way to pay yourself first before paying others. By dollar cost averaging, you lower the cost per share you own over the long run.
Guess where I learn all this? From my own personal investment experience and through training at Primerica Financial Services.
Sunday, June 29, 2008
So just get to work and finish whatever tasks you say you are going to do.
Monday, June 23, 2008
Monday, June 9, 2008
Saturday, May 10, 2008
About a month ago, Citi sold Citistreet to ING for $900 million. Citistreet is a company that does benefit plans for businesses (both big and small). I see that as good news for it will create large opportunities for Citistreet to grow its organization. Will this affect Primerica? I don't believe so since Primerica still has marketing agreements with Citistreet to offer business retirement plans.
Citi also plans to sell some other companies including Primerica. I believe Primerica is planning to buy itself from Citi. I don't have all the details yet but when it does happen, great things are going to happen to Primerica. For one, Primerica can start selling their company stocks once again. They use to sell their stocks long ago and the value of the stocks doubled every year during the 1990s. Then the company got bought out by Citigroup. Second, Primerica can focus on its own goals. Third, it will create huge opportunity for Primerica to expand its market. Forth, no more oversight of Citigroup looking over Primerica's shoulders and no more sharing of profits with Citigroup too.
Friday, April 18, 2008
Monday, March 31, 2008
Anyway, why is that other companies don't recruit the way Primerica recruits? My theory is that other companies don't like sharing profits among their agents. In other companies, there is one agent doing all the work and he/she gets paid a nice commission and the company makes money too. But the problem is that the agent has to constantly work and find clients to make money. Eventually, this agent will either max out his/her time or burn out.
Monday, March 24, 2008
A financial representative is someone who takes a look at the client's finances and gathers information for a financial analysis. He/she would look at what areas the client can spend less on so that the client can achieve realistic goals. For example, if a client was spending $1000/year on life insurance and the financial representative can offer life insurance that costs $500/year for the same coverage, that would save the client $500/year or $42/month. If the client was spending $2000/month on debt payments and the financial representative can offer a debt program that would cost $1800/month, that would save the client $200/month. That's an extra $242/month savings. The financial representative would then figure out how the client can use the $242 savings effectively. A portion would be applied toward the debt payment and the rest would be invested in one or more saving vehicles (IRAs, college plans, money markets, etc.) This is what a Primerica representative does for clients. The goal of a financial representative is to help the client increase the net worth over time. A majority of my clients don't spend a penny more after I sit down with them. If they are already spending whatever amount they spend a month, my goal is not to have them spend a penny more. Of course, there are some situations where clients do need to save more money and the client would need to cut spending on certain areas (such as entertainment or cable or magazines subscriptions) in order to reach whatever goals they have.
An insurance salesman is someone who tries to figure out what is the client's income and from there, figure out what the client can afford. The primary purpose of the salesman is to sell the product, even if it's not suitable for that client to buy it. Its even worse when the salesman doesn't even own that product him or herself. Why is that majority of life insurance people that sell whole life or universal life or variable life don't own these products themselves, but own term insurance or no life insurance at all? I tell you why. They know that those products are crappy to own and that term insurance is the best life insurance product out there.
Insurance salesman really don't have the same passion as a financial representative. Insurance people are more focus about the commissions. Financial representatives are more focus on helping the client achieve his or her financial goals.
Friday, March 21, 2008
You can do an internet search, "how is interest calculated on credit cards?" (remove quotation marks when you type or paste it in the search box), to learn more on how companies calculate the interest on your credit cards.
Thursday, March 20, 2008
Wednesday, February 27, 2008
George Boelcke, FCI wrote an article about the mortgage crisis in the American Chronicle and he wrote, "Primerica has never originated any ARMs with their refinance products (done through Citicorp Trust Bank). Their clients are watching the mortgage crisis from the sidelines and the safely of a fixed-rate term and consolidation, thinking: 'that could have been me in a foreclosure…'" You can read the full story at: http://www.americanchronicle.com/articles/52696
About a month ago, Oriental Financial Group entered into an exclusive mortgage alliance with Primerica Financial Services. Primerica will function as a new distribution channel for Oriental mortgages in Puerto Rico. The primary focus of the effort will be Primerica's long term, fixed-rate mortgages provided by Oriental as a means to consolidate debt at attractive terms. Primerica has approximately 400 full time and 2000 part-time financial representatives in Puerto Rico. (Source: CNN Money Jan 29, 2008).
Primerica is doing something great that is helping families bring back financial stability. The problem is that Primerica's agents needs to do more before more families goes into foreclosures. I wish I can do more, but I can only do so much in such little time. That's why I and many other Primerica's agents recruit. Its to manage our time effectively and get more things done.
Monday, January 21, 2008
Saturday, January 12, 2008
Since 1997, Primerica Shareholder Services (PSS) has made its shareholders’ needs a top priority and has focused on becoming a leader in customer service. And now, for the fifth consecutive year, that commitment has been recognized. Dalbar, Inc. is a client service rating organization focused on raising the standards of customer satisfaction and quality in the financial services industry.
Thursday, January 3, 2008
In 1970s, other life insurance companies were selling whole life insurance.
In 1980s, Universal life insurance was created.
In 1990s, Variable Universal Life was created.
In 2000s, Return of Premium Term Insurance was created and now they are going back to selling whole life insurance again.
Would you put your financial future in the hands of a company lacking a clear direction?
Three decades. One timeless principle. We stand for something!
Primerica has always believed families need affordable protection for today and control over building wealth for tomorrow. Our “Buy Term and Invest the Difference” approach to personal finance puts families in position to achieve their goals in life! We’ve never had to change our approach in the marketplace … because it works!