It seems you have confuse many things, But let me go through your post:
I am a financial services professional, which means I sell life insurance, and offer the full range of financial services, also.
Under whose name? Is it Daniel's Financial Services? Do you sell only term? Or do you sell the other type of insurance?
The reason why I ask these questions is the following: If you check out the investment scams that are making the news, they were independents. They did not have a OSJ looking at them and investigating them.
If you sell the other type of insurance, Suze Orman, and Dave Ramseys, have both, called you idiots and should be run out of town on a rail. Since these are two people outside Primerica, what independent people that say selling those types of insurance is a good thing. I will be waiting for your answer.
Here is what I have found from Primerica clients. If I find a potential client to have Primerica life insurance, I know 'for a fact', that I can get them a better rate if all they want is term life insurance.
Price only matters in the absence of Value. Who would buy a Yugo, when they can get a BMW for a little more? And as for replacing policies, I am curious, do you tell your clients to just cancel it, and do not send the proper paper work? I am reading about this tactics.
I want to thank Primerica, because I have replaced more of Primerica's term insurance than I can begin to count. When I ask them who they knew from Primerica that got it for them, the answer is always a good friend or a relative. The next question is, 'Does he still work with Primerica?'. Their answer is, 'No, he is still a plumber, carpenter, construction worker, etc.'
And how many mortgage companies are still in business? It was funny you said this. My Agent left too, but I have been serviced by his upline. I have had people try to take my business away, the only problem is the fact the value is not there. But then again if all you base your sales pitch is on price, you will be replaced on the next turn.
The point I am trying to make is that most of these guys are coming from non-financial backgrounds and trying to get people to invest with them, etc. What happens is that they will get in with Primerica, sell term life insurance to everyone they know, and as soon as their warm market is gone through, they are done, because no referral in the world is going to buy term from a Primerica rep if they do ANY research at all, they are simply the most overpriced term out there.
Again this is a LIE. I am a referral. Matter of fact I am a referral of a referral. So this is a lie. either that, or do you pay for all your leads? Did you know that ever sales person uses referrals? It is the life blood of sales.
Also, their big thing is that they show people that they need to 'buy term and invest the difference.' I have never found one person who has Primerica's term that is investing the difference. Whenever I ask them why, they say because they just got them the term and didn't follow up on the investing part. The reason is that there is no money in the $50 a month investments.
You are right 100%. At 50 dollars you do not make a lot of money, but when they get the debt gone, you get that money. When they get a raise they get more money. And they have not 10 clients but thousands of clients. A little bit of money does add up.
ANd then there is the roll overs.
But Since you can't find any one that does investments in Denver, you must be blind or lying.
These regional whatevers make all of their money off of getting new people into the business, writing expensive term on all of that persons family and friends, then that individual quits.
I am so glad you mentioned this. I missed to remind you how those companies sell term for less. They sell it as a loss leader. This means they use it to get the names of people and then bug them and harass them until they switch to cash value. The do this by calling them and telling them there is a problem with the policy. They send out letters telling you to call about the policy. When they have you on the phone, they tell you to switch to a permanent policy. Since any competent advisor tells their clients never to buy this policy, why would you send your clients to these vultures? I mean do you not value their time? Or do you think that cheaper is better? Remeber you can still get YUGOs...
The last thing I would do is rollover my 401k, IRA, etc., to a guy that still has grease on his hands from his 'other' job.
I am sorry, but since that person is relying on making his money off that client, but is using it to make extra money, who is less money motivated? Who would have the clients best interest in hand? I mean would you trust someone who only support is making money off what he sells to you, or the guy who does this because he likes helping people, and it pays for the extras he wants to have? I rather go with the guy who has the same licenses as you, but is not relying on me to pay his mortgage.