| Subject: Re: Primerica:Helped me |
Author:
mmat
|
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Date Posted: 18:10:29 11/15/05 Tue
Author Host/IP: 24.15.251.50
In reply to:
Paul
's message, "Primerica: Legal, but unethical" on 14:17:46 11/09/05 Wed
I'm very confused. Primerica has 6,000,000 clients and 100,000 reps. How can it be a scam? You must have learned something at their 'opp meeting', open house or whatever they are calling it these days.
1)If you save $333 dollars a month for 30 years, will you be a millionaire?
2)Is it a good thing to have a lot of debt?
3&4)If you have a million in the bank after 30 years, do you REALLY need life insurance? If you can't afford $10,000 for a funeral, you've got bigger problems. Also, what idiot would buy increasing premium life insurance? Wait 'Whole Life' insurance premiums increase dramatically after you turn 60, but that's okay because they take that premium out of your cash value. Oh yeah, if you want to borrow that cash value the insurance company gets the money, usually 8%, not you. If inflation has averaged 4.7% for the last 100 years and your whole life insurance is paying you 4%, who is making money, you, or the insurance company. Primerica may not be the best company, but I did learn to read a life insurance policy. I was paying $80 a month for $80,000 worth of 'Universal Life', now I'm paying $50 a month for $500,000 of 30 year term. So far, I have fallen off a roof and got hit by a car, if I would have died that 80K would not have paid off my house or sent my kids to college. I definitely feel more comfortable protecting my income for a limited term, not forever.
Primerica helped me realize how ignorant I was in the ways of money.
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