Life Insurance Basics
This of life insurance policy can help a person get insured without a medical examination with face amounts between $15,000 and $300,000
What is Power Term?
I already have life insurance through work
Do you know what happens to your coverage at work when you leave?
Doesn't it make sense to have a plan outside of work that you can control?
This is the year that Primerica was founded and was also the year that President Jimmy Carter was sworn in as President.
What is 1977?
This financial principle explains why $1 today is worth more than $1 tomorrow.
What is the time value of money?
The two main factors that determine your premium.
What are age and health?
This is the primary purpose for purchasing life insurance
I don't believe in life insurance
What is ..."really? Who's responsible for making sure your family is ok now that you are alive? So how would that responsibility change if you died tomorrow? If it were free would you have it? So, it's not that you don't believe in life insurance, it's the money isn't it? How much could you comfortably set aside to make sure that your family is protected?
This name was the first name of the company now known as Primerica
What is AL Williams?
This concept shows how the need for life insurance decreases over time and the need for savings increases over time
What is the Theory of Decreasing Responsibility
The difference between “renewable term” and “convertible term.”
What is renewable term lets you extend coverage, while convertible term lets you switch to permanent coverage without new underwriting?
Primerica believes in buy term and ___
what is invest the difference?
"I have to check with my spouse on their availability for an appointment"
What is... "I understand, which day are you and your spouse usually available together, Friday or Saturday? So why don't we set the appointment for Friday and if your spouse needs to change it you can get back to me."?
This woman, known as one of A.L. Williams’ original crusaders, became the first female National Sales Director in Primerica and helped pave the way for women leaders in the company.
Who is Virginia Carter?
A family invests $10,000 at an 8% annual return. Using the Rule of 72, approximately how many years will it take to double?
What is 9 years (72 ÷ 8 = 9)?
The reason why cost of insurance increases every year inside permanent policies.
What is because they are based on annual renewable term insurance rates?
This type of life insurance has a face amount and also guarantees a cash value which grows over the life of the insured or until age 120.
What is whole life insurance?
I don't have the money to pay the $124
What is... "Wow, really? You don't have $124? But are you serious about improving your life and earning more? Which car do you like the most? If I had the car outside right now and it was only $124, where would you get the money?
OR... "When will you have it? Let's go ahead and start the process and we'll run it on (date)
Month & Year Primerica went public on the NYSE and the IPO price.
What is 2010 & $15/share?
This concept teaches you to be your first and most important "bill" every month and encourages people to save through this phrase
What is pay yourself first?
This rider can ensure your policy stays in force if you become disabled.
What is a waiver of premium rider?
This type of life insurance policy allows the policyholder to adjust the amount and timing of their premium payments, but rising insurance costs can still cause the policy to lapse.
What is a flexible premium universal life (UL) policy?
I just don't have the time right now
What is... "I understand how you feel. I felt the same way. However, I found out that by just investing a few hours a week I improved dramatically and could earn a great income. How many hours could you set aside if you knew you'd make $2000 a month around your own schedule?
OR ... "If you won $1,000,000 but the lottery said you had to do 10 hrs of community service for a year to get the money would you find the time? If you found that time with me I'd give you everything I have to help you make all your goals come true.
In its first year (1977), A.L. Williams & Associates recruited this many agents, sparking one of the fastest-growing crusades in financial services history.
What is over 85 agents (most of them friends, family, and former teammates of A.L. Williams)?
What is the debt repayment strategy that focuses on paying off the smallest debts first while maintaining minimum payments on larger debts
This actuarial principle is the foundation of how life insurance companies pool risk.
What is the law of large numbers?