Primerica will likely be sold to JC FLowers and Co. LLC at the beginning of 2010. Primerica is a network marketing/ multi-level company that focuses on recruiting thousands of agents every month. This was supposed to happen about a year ago, but things fell through. Many people have been asking what will happen to Primerica? JC Flowers will probably make it a non-captive company, based on their history. What does that mean? Well, up until now, Primerica agents were forbidden to sell unapproved products of other carriers, so if an agent wanted to sell a West Coast Life term policy they would be prohibited from doing so, henceforth other agents from other unrelated agenies were also forbidden from selling Primerica products.
All this will change once the buyout happens. Primerica agents will be allowed to sell other companies products, and other agents will be able to sell Primerica products. The lines will be blurred. The challenge will be trying to recruit new agents because of Primerica's multi level recruiting model. All new agents start at a 25% commission. That is probalby the lowest commission of any company. Most agencies start their agents at 70% and move up from there. Why go to Primerica, if I can start at an agency down the street, that sells the exact same product at a much higher commission rate.
Although I don't think Primerica will go away, I do think that their recruiting efforts will quickly diminish.
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