Presentation on theme: "PP/SR/33638/7.06/V6.0/02PFS344-28. Traditional Career Path vs. PRI System 18-19 Years High School College 2-5 years Cost $10,000/yr public 21-22 yrs of."— Presentation transcript:
Traditional Career Path vs. PRI System Years High School College 2-5 years Cost $10,000/yr public yrs of age Internship: 6 months Min Wage or Pro bono JOB: $30,000/yr Bottom 90% Takes a very long-time Might get lucky! 100,000 Licensed Reps > 20,000 Securities Reps 5,000 Financial Advisors > 4,000 Reg. Vice Presidents > 2,600 $100,000+ income TOP 10% of Income Earners E-mentality/ B-mentality COACH SYSTEM: days Education->Training-> Business RVP in 9-18 Months TRADITIONAL PRI SYSTEM
Two Fundamental Questions: 1. Why Financial Services? 2. Why Primerica?
Track Record of Success With Momentum What would interest you more? Starting your own part-time business, a complimentary financial game plan OR BOTH? These figures represent 12-month rolling cash flow levels, including advances, which have been achieved by Primerica representatives, past and present, at some point during their affiliation with a Primerica Company, beginning in The representatives are not necessarily achieving those levels at this time. Further, the numbers reflected in the Cumulative Number of Earners column are cumulative from level to level and, therefore, include all representatives who have ever achieved the stated cash flow figures. The cash flow categories are not intended to demonstrate earnings of typical representatives. In the 12-month period ending in December 2010, Primerica paid a total of $503,115,928 in compensation to its sales force at an average of $5,296 per licensed representative. Most representatives do not reach the levels illustrated. Average RVP earnings are typically higher. Actual gross cash flow is, among other factors, dependent upon the size and scale of a representatives organization, the number of sales and the override spread on each sale, and the ability and efforts of you and your downlines. Having said this, Primerica provides a tremendous opportunity for individuals who work hard and who desire to develop a business with strong income potential. Since 1977 New Since 2000 Cumulative Number of Earners Personal Income Over $50,000 Over $100,000 Over $1 million Over $2 million Over $5 million 5,392 2, ,854 1,
PP/SR/33638/7.06/V6.0/02PFS Primerica Primerica The largest independent financial services marketing organization in the world – over 100,000 representatives Serves more than six million clients in the United States and Canada In business since 1977 The largest mutual fund sales force in North America
PP/SR/33638/7.06/V6.0/02PFS We Are a One-Stop Financial Supermarket Primerica DebtWatchers Offered by Primerica Client Services, Inc. through contractual agreement with ® Life Insurance Debt Solutions 1,2 Legal Protection Long Term Care Auto & Home Insurance Referral Program Mutual Funds 3,5 Quotes from such companies as: Travelers Safeco Progressive See endnotes pages for important disclosure. Managed Accounts 1,4 401(k) Plans 1,3 Annuities
PP/SR/33638/7.06/V6.0/02PFS Listed on the New York Stock Exchange (PRI)Primerica
PP/SR/33638/7.06/V6.0/02PFS Mission Statement: To Help Families Become Debt-Free, Properly Protected and Financially Independent Financially Independent.
PP/SR/33638/7.06/V6.0/02PFS The Headlines Tell The Story Six in 10 workers say that they are living paycheck to paycheck. CareerBuilder.com Survey Average credit card debt among households with balances on their cards: $15,788. AARP Bulletin More than half of Americans have no emergency savings. Time.com Bankruptcies topped 1.5 million in CNNMoney.com 68 million Americans have no life insurance. LifeHealthPro.com More than half of all workers have less than $25,000 in savings and investments for retirement. Employee Benefit Research Institute 2012 Retirement Confidence Survey How Real and Serious are these problems?
PP/SR/33638/7.06/V6.0/02PFS People After Working From Age 25 - Age people at age 65: 54% dependent 36% working 5% deceased 4% OK ($1 million) 1% wealthy ($5 million) Why do 95% fail when it comes to their finances? 1. No financial education 2. No financial game plan 3. No financial coach Source: SmartMoney 1%1% 4%4% 36 % 5%5% 54 %
PP/SR/33638/7.06/V6.0/02PFS WHAT WE BRING TO THE TABLE 1- Knowledge & Education We Teach How Money Works You cant win the money game unless you know the rules! unless you know the rules!
PP/SR/33638/7.06/V6.0/02PFS WHAT WE BRING TO THE TABLE Licensed and Trained Licensed and Trained Representatives use a Team approach to help families reach their goals 2- A Financial Coach
PP/SR/33638/7.06/V6.0/02PFS Shouldnt Everyone have an Financial Needs Analysis (FNA)? The Solution: A Financial Needs Analysis (FNA) A customized, confidential, complimentary program that helps achieve your goals & dreams. The FNA provides Solutions in… SavingsSavings Income ProtectionIncome Protection Debt EliminationDebt Elimination Income ManagementIncome Management Tax ManagementTax Management The Problem: Traditional financial institutions sell you products, they dont provide you with a total solution. WHAT WE BRING TO THE TABLE 3 - A Financial GPS…the FNA
PP/SR/33638/7.06/V6.0/02PFS An Example of How We Help Families Bob Smith, Age 35 & Wife Susan, Age 33 Have Two Children BEFORE AFTER Offices, Duluth, GA. Term insurance provides a death benefit only and its premiums increase at certain ages. The accumulation figure reflects continued investment at the same rate over 30 years at a 10% nominal rate of return compounded monthly and does not take into consideration taxes or other factors, which would lower results. This example uses a constant rate of return, unlike actual investments, which will fluctuate in value. This is hypothetical and does not represent an actual investment *Term insurance provides a death benefit and its premiums can increase at certain ages. Cash value life insurance can be universal life, whole life, etc., and may contain features in addition to death protection, such as dividends, interest, or cash value available for a loan or upon surrender of the policy. Cash value insurance usually has level premiums for the life of the policy; term insurance premiums increase after initial premium periods. 1. Based on the assumption that the consumer makes minimum monthly payments, the APR for the mortgage is 6.0% and the APR on each of the three credit cards is 19.8%. Assumes no additional debt is incurred. 2. Monthly premium is an average of whole life policies from three major North American life insurance companies for male, age 35, standard risk and female, age 33, standard risk. Cash value life insurance can be universal life, whole life, etc., and may contain benefits in addition to a death benefit, such as dividends, interest, or cash value available for a loan or upon surrender of the policy. Whole life usually has a level premium for the life of the policy. 3. Primerica monthly premium for age 35, non-tobacco use for 35 year Custom Advantage policy (C535) and spouse age 33, non-tobacco use for 35 year Custom Advantage rider (C5SR), both with rates guaranteed for 20 years, plus a child rider of $25,000 each on two children, underwritten by Primerica Life Insurance Company, Executive Debt 24 years left on $165,000 1 st mortgage $13,000 on 3 credit cards; payoff in 58 years Life Insurance 2 $150,000 coverage on Bob $150,000 coverage on Susan No protection for kids Monthly cost: $298* Auto & Home Bob & Susan paying $243 per month for Auto & Home Insurance Retirement $20,000 in IRA at bank earning 3% with $100 per month contributions age 65 = $107,000 Debt 1 Customized Primerica DebtWatchers Fast Pay Plan allows all debt to be paid off in 20 years Saves 4 years of mortgage payments and over $56,000 in total interest (with $0 extra in payment) Life Insurance 3 $300,000 coverage on Bob $300,000 coverage on Susan $25,000 coverage on each child Total monthly cost = $123 Saving $175 per month Auto & Home Saved them $65 per month for Auto & Home Insurance policies Retirement 3 Roll over IRA into Mutual Funds Monthly contributions increased to $300 Accumulated savings at 10% at age 65 = $1,080,000
PP/SR/33638/7.06/V6.0/02PFS Our Challenge Our challenge is not our competitors. It is not a lack of market. Families are desperate what we do. Our Challenge: We need more people to serve this market and help these families.
PP/SR/33638/7.06/V6.0/02PFS We Offer Three Ways to Make More Money: 1.Non Licensed -Part-time $800+ per month $1600+/mo (Based on 2 families/wk) 2. Part Time 2. Part Time (obtain a License) $1600+ per month $3200+/mo (Based on 2 families/wk) 3. Business Ownership 3. Business Ownership (Fully Licensed) $6000-$10,000+ per month (Based on 2 personal families/wk with a team of 5 that also do 2 /wk each.) Fast Start Bonus You can earn a potential $500 getting started with us. In the 12-month period ending in December 2010, Primerica paid a total of $503,115,928 in compensation to the sales force at an average of $5,296 per licensed representative.
PP/SR/33638/7.06/V6.0/02PFS What You Would Make ProductDistrictRegionalRVP Non-Licensed (Pre-Launch) Primerica DebtWatchers Life Insurance Auto & Home Investments Total Helping People = Making Money $50 $400 $84 $468 $1002 $52 $560 $93 $568 $1,273 $57 $760 $127 $829 $1,773 Override $ $
Primerica: Where Dreams Come True Take Action Complete an FNA and put your own financial program in place Take the first step toward financial independence If you like helping people and are willing to learn, find out what the next step is to qualify
PP/SR/33638/7.06/V6.0/02PFS Schedule a follow-up appointment with a manager At the follow-up interview you can expect: 1. Review everything 2. Answer your questions 3. Ask you about your background, skills, & ambitions, etc. 4. If there is a mutual interest, we will fill out background information Is there anything in your background that would prevent you from qualifying? Whats the Next Step?