This post is intentionally titled "Primerica Scam" with nothing else. Because I feel like I need to do some sort of public service announcement. And hopefully I can save one person from falling into the trap I almost did when they search on "Primerica Scam" like I did.
As most of you know, I'm looking for work. In recent months the effort is increasing at an increasing rate (or so I told Professor Joe over the phone when he asked). Since my resume is online I get semi-frequent calls and emails. Most of the calls and virtually all of the emails are off target (I'm sure I won't have the energy to write about them tonight, but hopefully I'll get to them soon. They're amusing).
So, onto Primerica. "Primerica Financial Services, a wholly owned subsidiary of Citigroup, is headquartered in Duluth, Georgia. It is the largest financial services marketing organization in North America, with more than 100,000 licensed independent representatives." That sounds reasonable, right? Citigroup is the parent organization. I can deal with that. In fact, getting a little bit of financial background would be nice.
The conversation went something like this (I'm leaving out lots of pieces because I don't feel like writing all night):
Recruiter: Are you looking for work?
Me: Yes.
Recruiter: Great. I'm with Primerica. Are you familiar with Primerica?
Me: No.
Recruiter: Primerica is a wholly owned subsidiary of Citigroup... blah, blah, blah.... And we already have 15 offices here in Orange County. We're looking to expand to 45 offices. We need managers for the additional offices and that's why I've called you. Would that be something that would interest you?
Me: (Actually kind of flattered but very, very skeptical)... Well, sure.
Recruiter: Tell me a little bit about your previous job....
Me: I was working with... (at this point I know the dude has completely zoned out, at which point I ask him)... Before I get into the details, are you familiar with the IT industry?
Recruiter: Me? Well, no. Sorry.
Me: (Realizing that this seems really strange)... Do you have my resume in front of you?
Recruiter: No. You were given to me by our "Regional Vice President". He was very impressed with your resume and passed your information along.
Me: (I'm probably the only idiot who really thinks, "Wow. This could really be a great opportunity for me. I wonder who this Regional Vice President is. And I wonder what on my resume really stood out.) I probably said something here, but I don't remember and I don't want to make up any more of the details than I already am.
Recruiter: Well, I've been very impressed with you so far. We would like to bring you in for an office interview. We're located in Santa Ana. We have openings (he rattled off a bunch of times over the next few days all an hour apart). Would you be interested?
Me: (I'm still an idiot here and I'm flattered. It's also a short drive from where I live and I have nothing else to do.) The 3pm slot tomorrow works great for me.
He proceeds to give me directions and his cell phone number and that's that.
Alright. I have an interview. That's good. It could be a new opportunity in a new field. That's also good. The phone conversation still didn't seem quite right, almost like the guy was overly eager to get me into his office. Especially since I didn't really talk a whole lot about myself and, regardless of what I said, he was thrilled with the answer.
I wanted to be prepared for the interview, so I research the company. The first result is their website, as you would expect. Then I check out Wikipedia (which isn't always accurate, but it might give a little different insight). I find out that Primerica is a Multi-Level Marketing company.
What's a Multi-Level Marketing company? It's a Pyramid Scheme. So I continue with my searching, wondering what search terms I should use to get more information on a potential pyramid scheme. I've got to either confirm or deny this, right? If you have Google Toolbar on your browser, you'll know what I'm talking about - I started entering "Primerica" and they give you a list of the most common searches with whatever you've already entered. Fourth on the list... "Primerica Scam". Bingo.
The first search result was key - Here it is. This guy went through the same thing I was about to. And as far as the "Regional Vice President" liking my resume? "In Primerica, you are not a Regional Vice President for the company itself. These people are independent agents at which they are at the Regional Vice President level."
The following morning I was unsure whether I should just cancel the interview or not. I wasn't thinking about going for the normal reasons, like I had already committed and am obligated to go or that this might be different than what I was reading online. I wanted to go because I was bored. And I wanted to just mess with this dude. Not in a mean way. But in a way that I would ask the exact questions that he wouldn't want to answer. And I would keep asking until I got an answer to my satisfaction. At around noon, I started looking up local news channels, thinking that maybe they could give me a hidden camera and we could "out" Primerica and what they're all about. Long story short, my mom talked me out of it. And I left the guy a voicemail. It was something real simple like, "I'm calling to let you know that I need to cancel today's interview. I did some research on Primerica and it's not the direction I want for my career. Thank you for your time and the opportunity. Best of luck to you."
So that's that. My apologies to the thousands of people that make their living with Primerica. This post isn't intended for you. This post is to be informative for people like me who are looking for work and have their resume online. You may very well get a similar phone call. And I hope that this post will help better inform you of what's in store. As always, your input is welcome, whether it be a story like mine or a defense of Primerica.
1,182 comments:
1 – 200 of 1182 Newer› Newest»Hi,
Thank you for your blog. It is great.
I stumbled upon your blog as I was looking for consumer reviews about primerica.
You may be interested also to review articles that I found right before yours.
This blog is informative and not biased, compared to the ones I read online so far. I just want to add a little more insight on the whole issues.
Primerica tends to focus on recruiting, since it does not advertise...it relies on a referral system. Which mainly starts off with you (the employee) and those who you recruit. They also throw in the thought of making millions. The catch is recruiting people who are fully committed to the work. Since its 100 percent commission based, you're likely to have a good turn-over rate. I know this because I have been to an "interview" and watch slowly as my friend became brain-washed by the thought of becoming a multi-millionaire. He/she constantly pressure me to join or purchase certain insurances. The company isn't bad, but it's just very difficult being on a commissioned-based salary...unless you have money to spare for your basic needs for a few weeks or months.
They also charge you a X amount for a background check and licensing and class fee. Don't worry, the company is legit and the agents must be certified by the state or federal government in order to sell you insurance (excluding home and auto, that process is done by somewhat of a middle man).
Final thoughts are, you have to think thoroughly about the info you're given. I suggest, go to the meeting but do your research. You'll find out if Primerica is for you or you might have a niche for it. I do know as an entry level employee, you will be ask to shell out some cash for motivational seminars. Overall, you best bet is to find a Primerica friend (a friend or family member) who is currently working for them and watch their progress. That's what I'm currently doing.
I have a friend who is going through the "seminars" now, I just want to know what are the employees credential??? My friend has to rob Peter to pay Paul every month, what kind of financial advice can she possibly give me if she can't even manage her own finances?? She also said she is going to be getting certified to sell stocks??? please be careful.
People are looking to get rich quick.
I've been to the "seminars" and have to say that after meeting some of the people that actually participate in the whole business, they actually come from a very diverse background. I met with one of the higher paid people in the business and grilled him until I received honest answers to some of my concerns. I asked him things like "Is this a pyramid scheme?" and "How did you make your millions?". To my astonishment I got an answer further than anything I could have imagined. He said that it took him almost 20 years to make 1 million in a year. But after working on his techniques he was able to hit that magic spot and that nothing came without some hard work. He also said that If I had so many reservations that I would be better off working my 9-5 job. If that isn't honesty i don't know what is
primerica is not a scam. do your research. below are a few websites to start with.
http://www.ripoffreport.com/reports/0/229/ripoff0229393.htm
http://www.americanchronicle.com/articles/52696
if you know some one that is a primerica rep who is not getting paid then tell them to work. primerica is commission based, just like real estate or selling cars. it's that simple. you don't work, you don't get paid. also you can't determine your success in primerica based on how your friend does. your income is based on YOUR work ethic not your friends.
as far as credentials are concerned, each rep must be licensed by the state. and since they are in the finance industry there are many "rules & regulations" they must comply with.
if you want to read a real blog of opinions check out this one:
http://chriswondra.com/2007/11/24/primerica-mortgage-a-consumer-report/
My mom has been "working" there for three years. I never looked much into it, until my grandmother recently informed me that she was now in debt because of all the money my mom was spending getting to work and going to seminars with well below minimum wage profit. My mom isn't the sharpest crown and is very susceptible to this kind of stuff. My grandmother told me that she went to one of the seminars and everyone seemed childlike and simple. She likened it to a business cult. I'm now trying to get her out of this and try to help my grandmother back on her feet financially. This company preys on gullible people like my mom for recruiting. She seems brainwashed and in denial. I don't know what to do.
Thanks for the info. My girlfriend received one of those phone calls earlier today, and as a young person looking for a job, it doesnt take much for an oppertunity to sound super promising. While everyone within Primerica says that their business model isn't a pyramid...more of a three pointed attack on debt... for someone at the bottome of that line of people, i'm sure life is pretty grim.(not unlike every other pyramid business model) The real problem with the business model is that you have these "financial advisors" who don't know anything and will tell you whatever they please to make the sale, along with exelent driven qualified advisors who will work their butts off for you. It's hard to recomend or trust a company without minimum standards, and thats not even counting working within a group of advisors without minimum standards. I still think that those who have stumbled on great customer service from this company should buy a loto tickets because with their viral recruitment practices, my nine year old cousin could be the next person dealing with your 300 000$ of debt.
Primerica is NOT a scam, it's not a Pyramid Scheme, or even a cult. It's a real company that utilizes a multiple commission structure like Realestate,Car sales, Mutual Fund brokerages/Financial services. Virtually any sales force is structured in this way.
Of course when you just research a company like PFS on the net and you put the word "scam" after it, it's going to come up. That does not mean that it is, it just means that MOST PEOPLE don't understand any other business model outside of the four walls and a time clock they come from.
It's a commission only sales company with in the free enterprize system. It's an Entrepreneurial opportunity. Just because it's different from your job does not qualify it as a scam or make it wrong. Most people also don't understand the process of being in business for yourself. You are a work creator not a work processor.
It may seem like someone in Primerica is making little to no money for a period of time but the one's that stick with it and get good at the sales process, will make more than any job will ever pay and have a business ownership and can will or sell the business.
Even the website "ripoffreport" which used to slam Primerica, did an investigation lasting almost a year. The recanted what they said about PFS and said that "Primerica is a legitimate opportunity worth concidering".
See what happens when you actually learn about something?
Well would a real job expect you to pay fees up front, i dont think so. Seriously you must be stupid. People are looking for real jobs not arty farty commission based (if any), seriously wake up you sound brainwashed!
Sorry to offend your employee mindset. So if someone wants to make more money than what the average job offers through commissioned sales, that means they are brainwashed? Interesting.
If paying my mortgage with a few hours of effort makes me brainwashed, then I'll wear the crown. Better than having a closed minded, negitive attitude anyday.
PRIMERICA is defenitly a scam but not in legal sense. My experience with these loosers is similar to the 'job interview call'. I am in IT and work in the capacity of Project Mgr. While trying to find better openings, I had posted my resume on job boards and frequently getting calls. One fine afternoon , a lady called and introduced herself as "Cinthya Dianderas" . She told me that she is a recruiter for Primerica a Citi Group company and they are expanding their business and looking for managers. She asked me about my current job profile and after my brief description of my job profile, she said " That sounds perfect! we are looking for such people" . Then she asked me to come for an interview on following Monday at 3:00 sharp! She also mailed me the address as "1145 Herndon Pkwy , Herndon , VA 20170" . I took half day off from my work and reached the place around 2:45 pm. Interestingly, they have office in one suit but the address given in email did not mention that ( trying to create an impression that they own the whole building !! ) . Their office looked like a cheap big garage with 2-3 rooms for office work. There were three other people waiting in the area. By this time, I started getting an idea that something is fishy about this 'potential job' . I asked other people, if they know about job , they all replied that they wre also 'trapped' like me :)
To cut the story short. I quit the place after expressing my protest.
Later on, I also sent an email to the "Cinthya Diandras" expressing my anger over this cheating and fraud. These suckers have wasted my time using their dirty tricks.
Interestingly, I received the reply from someone "SAMIR QUERESHI" . The guy claimed to be 26 years of age and making 30K a month (lolz) . This asshole, tried to justify his business and claimed that many MBA, CFA, Doctors are working for him (lolz)
I replied to him that I am happy with what I am making that too without making anyone fool and trapping them to sign for some membership etc ( Quixter , Amway type). i also send him the 'informative' URL links about Primerica ! Never herad from him since then :)
Hey sam, So just because you didn't walk into a traditional interview situation, that means it's a scam? Tell you what, stick with your job because we need you "In the box" thinkers to make the world go round.
In fact, please don't try to think out side of the box because you might just strain or pull something. Now go hug your time clock, ok!
Hi. I like your blog. I see you have mentioned Primerica Financial Services, the largest financial services marketing organization in North America. From this great site www.pissedconsumer.com I learned that the company operates approximately 100,000 licensed independent representatives. The company provides quality financial products and services, including term life insurance, mutual funds, variable annuities, loans, auto and homeowner’s insurance, long-term care insurance, and legal services to some 6 million clients. .
PLEASE READ!!
I am with Primerica and am also a fair and objective person. PFS is not a perfect company (Are there really any?)People do bring up legitimate gripes about PFS. There are two types of compalints. One is from people that are familiar with the company and have issues with how certain things work. The second, like the gripe that this person made in this blog is more culture shock than a real gripe.
Culture shock more in terms of finding out that a different business model exists outside of what is considered a "normal" job. They see a different work culture and the assumption is made that it's a scam.
Before you pass judgement on Primerica, take a look at the sales industry as a whole. Everything form RealEstate sale, Car Sales, Mutual Fund Brokerages, Financial Services, Furniture Salse to Internet Marketing have a HIERARCHY sales structure and pay on a COMMISSION scale based upon the different contract levels. Many of these companies will look for an out going professional persona as opposed to going by a resume because they are looking for leaders and buisness builders not someone who is a highly qualified order taker(employee).
Also everthing form Primerica to Real Estate Sales have a very high failure rate because one has to be able to transition form a normal job and being a work processor to being a work creator and it's a very difficult transition that most don't make.
In closing, Primerica is really no different than any of these sales organizations. So if someone is offended by what PFS is, then I would suggest staying away from the sales industry altogether.
The way these sales persons are duping innocent people to turn them into PRIMERICA sales person, I am almost certain that PRIMERICA is a company full of con artists. These people can lick anything just to make some money and trying to rationalize their act by using some buzz words like 'marketing' , 'sales industry' , 'in the box' bla bla bla ..
Whats the difference between such persons and a cheap prostitute who is always ready to do anything ( or lick anything) , just to make money ?
You are absolutely right! These people are good for nothing and the only way they can earn their living is by fooling others and portraying their false image. Stink on them.
I don't believe that it's necessarily a scam, it's just the way some of their leadership go about it. There was a horrible accident here in Florida where a mother had just given birth and was in the hospital. Her new husband was home with her kids from a previous relationship and since there had been almost back to back hurricanes that year people just left their homes boarded up. Well there was a fire and the father and the kids were trapped and died. On the radio her family was asking the community for help burying the dad and the kids.
That's when I started thinking about myself and how I was lacking life insurance. My family isn't rich and I would hate for them or anyone to have to beg for money to bury me or a loved one. So I started looking for life insurance and it just so happened that my mother knew a Primerica rep. I got the life the insurance and was even recruited. I wasn't motivated by the money, but by perhaps helping someone protect their family. I paid over a $100 to be in business for myself and then some more money for the Primerica University. I paid out some more for study materials, learned a lot about insurance (for example, when money gets tight, people will more than likely drop their life insurance first). I passed and now it was time to get licensed by the state.
I went to my second Primerica meeting and was sickened and pretty pissed off. See I had been concentrating on passing that university and had only gone to one meeting and missing the other ones. I'm all for being positive, and having a can do attitude, but the meetings were focusing more on recruiting and less on helping. The leadership spent more time on Amway tactics of getting people in and preached greed with almost fanatical looks on their face; and it became pretty clear to me that these fat cats just were selling dreams to the masses. I wanted to know who was going to do the work of helping people, if everyone is so busy trying to sucker someone into suckering in someone else?
After that I never pursued it any further, I ignored the phone calls and stopped payment on my check. I got into the IT field myself. That whole experience left a bad taste in my mouth and felt kind of naive. What’s funny is that I still have the insurance…just in case, because we’re not promised tomorrow.
I just got the phone call here in Michigan. I thought it was going to be the biggist break of my life. Making great money, bennifits, insurance. BUT NO, this was a waste of time and money. After listening to this idiot talk for 3 hours he wants to hire you. BUT i hope you have a check book to get started. If i knew this was going to cost money up front i wouldnt have wasted my gas money. Now i am even farther in the hole. Its for sure a scam. It might be good for a old rich guy that has lots of time on his hands, but its not realistic. Its just like Pre-Paid Legal Service scam, which i fell for too!! BEWARE!
The thing that many people don't get is that Primerica is an Entrepreneurial opportunity and NOT A JOB. So many people seem to get offended that they have to pay to get licensed but if you were to become a Realestate agent, you would have to pay for your license and all costs associated with starting your own agency as well as with Primerica. The sales industry differs than traditional employment because with commission sales, you are a licensed Independant Contractor and not an employee of the company. This is a distinction that escapes most people when they go to a PFS opp meeting and look at it through thier glazed employee eyes and they say to themselves "Oh, This is a scam"
No it's not a scam, nor is it a job. It's an independant business opportunity. If you get licensed and get out in the field and write business, YOU GET PAID, There is no scam. Many people fail and fall back to a traditional job because it's very hard to create a client base and a business and it's easier to take orders from a boss. The people that understand this distinction will be successful.
Im curious about this job position , I have interview and curious if I should goor not. Is the entire job a commision base it probably really difficult making money , especially at this time with economy so bad.
I just wanted to say thank you for this post i just cot a call from that company and heard the same story you have told. and so i didnt know what to think so i looked it up and came across several scams and yours is perfect. thanks for saving me time !
I sat down with a guy from primerica last night, ive seen more than my fair share of pyramid schemes, and i dont think this is one. The structure looks like it, but its an entrepreneurial company, how you do depends on your work ethic and brains. Its not for 99% of people for sure.
That said, im not going to do it, i told the guy id call him, and tell him how i feel after i though about it. Reality is im a student and im already a business owner, i have no time or energy left to invest into something like this. If nothing was going on in my life though, i would definitely try this out. Its honestly right up my alley, just not something i have time for.
My verdict? Unless you can fairly say your sharp and entrepreneurialy-minded, and have a really good work ethic, dont risk your time and energy.
Just wanted to say thanks for the info.
I'm a waitress... imagine my surprise when I answered the restaurant's phone and this woman tells me that I was the very person she was looking for! I recently served her and her husband and they were so impressed, blah blah blah. If I don't want to sell, I can run my own office, blah blah blah. She ACTUALLY agreed to a Sunday morning meeting on a holiday weekend. Um, are you kidding? Unfortunately I'm not an on-the-spot "NO" kind of person so now I have to wiggle out of this mess. The hairs on the back of my neck stood up almost immediately.
One of my regulars was in the restaurant when she called. He's in the financial sector. I asked him what Primerica was and he told me that they were bottom-feeders, the lowest-of-the-low.
Enough said. Definitely not!
For everyone's information I took a very long look at Primerica before I decided to join. In its purist form it is a pyramid style company however unlike any other company with this structure the person at the bottom can actually make some decent part time income. The start up costs are minimal when compared to entering the real estate market. I've just been on some other sites that talk about how the loans they signed for were not in their best interest etc etc. I have run the comparisons side by side and pound for pound. Their loans are better and they do pay off faster. Primerica is about teaching people how the system has been built to take money out of our pockets and Primerica shows you how to put more back in your pockets. People should stop comparing interest rates because if interest rates truly mattered then why is banking in its current situation. What really matters is how much of your payment is going to principle? Another point some of the complainers make is that they could do the same thing to their existing mortgages without refinancing with Primerica. The simple answer is: then why don't you or why haven't you done it already? The answer is that you couldn't break your habit at Starbucks, the mall, or your boating addiction. Primerica's programs are designed to help give people the structure that they couldn't handle themselves.
Okay, so here is my opinion - since it seems that everyone else is allowed to leave theirs as well.
Do your research about Primerica, even if it slightly interests you. It is the LARGEST financial services company in the world! Wow - I bet GM or Ford are one of the largest automobile companies in the world. Go figure. Those companies are commission based as well, from the sales aspect.
Primerica is not a scam, but rather an opportunity for freedom and financial independence. If you want to work a job from 9 - 5pm everyday and take orders from someone else - by all means. You have more patience than I do. But if you want to set your own hours, make more money than most regular middle income jobs pay, self develop and learn then PLEASE do the research, check out some open houses. Worst case scenario for you? You learned a little and met some new people.
And for those that are bashing a company like PFS and saying its a scam, not only should you do a little research, but it is awfully hard to accept information from people who are grammatically and spelling challenged.
Until then, if I can dream it, I can do it. AND I WILL.
Ok, I worked at safeway, and I hated. One day a customer in life asked if i liked my job. I relied no. He gave me his card and i called him. The primerica represenative set up an interview. I met with him, and he explained everything. It sounded great...for someone who is outgoing and have a lot of friends. I am not. Primerica is not a scam! But it is not for everyone. If you're shy, and you don't like meeting people and hunting down potential customers then this is not the job for you. I declined on the opportunity by the way.
Closed minded people should stay in cubicles with no windows and a boss who crowds over you, deadlines to be met, and never enough money to last the week. Exactly where you belong.
Sometimes if it sounds too good to be true, it's because it's too good to pass up.
The reason why you have to pay to start is because only a licensed professional can do the job...
Hello? You cannot get a license without paying first, not even your driver's license.
If you think it's a scam, poop on you.
It's not a scam. It's a real business opportunity for business minded people who are ready to be their own boss.
Brainwashing? That's a nice word for people who'd rather live by the time clock. Go wash your uniform, you gotta be at work in nine hours... don't wanna get brainwashed!!!
Signed-
Your money making Primerica Representative:)
I just got a call today from a Primerica person. I, too, am looking for work (I'm one of those "overqualified" people). Anyway, our conversation was almost verbatim-- just as you described. I asked the woman if this was a sales job and she said "No". Then I asked if it was commission and she said (pause) "No". Then, I asked her if it was a salaried position and she said "There are several different ways we get paid". So, I asked her the same thing in a different way and I got the same answer.
I ran across your blog while researching the company, so THANK YOU from the bottom of my empty wallet.
I am also very thankful for this Blog... I am working at a retail store that like many others in the nation, is currently going out of business, and was approached by a customer with a business card to join Primerica. Having no clue what it was, but seeing the CitiGroup logo on the bottom of the card, I felt hopefull that it was a good business.
Friends at worked asked me if I had received any offers, as we are all looking for new opportunities, and I was proud to say I had... for a financial company! "Oh really? Which one?" asked a friend "I think its called Primerica..." "OH MY GOD DO NOT DO IT!" she screamed in the breakroom... she proceded to tell me that they are a total scam and prey on people needing jobs "They've been in here all week offering everyone cards because they know we're all loosing our jobs." "Well how can they be that bad though...?" I asked. "They try to get you to recruit people for their company, and they say that they're helping to save your friends and family money, but you have to pay to work there- and you only get commission- NOT EVEN A BASE RATE." (I can work- and have worked as a waitress before, and made more than that with less effort.)
At that point I went home to do more research.
and in doing so, I found exactly what I didn't want to.
Thousands of testimonials about how this company will scam and fraud you and brainwash you into thinking you will make millions. Don't get me wrong, I would love to have a job that helps people get out of debt- but this job does not do that.
I used to work for Vector Marketing, which sells Cutco Knives "The Highest Quality" through the whole "Refer your friends and family, and get more referrals" mindset... although I became Assistant Manager, I am still sorry that I went there. It's the same thing I've heard described... walking into a half-naked office building and making you watch videos about "I made a million dollars!" and "The program works!"
How?
And in response to some of the posts, True- this may not be a scam. In fact, it probably isn't. But I've done this work before, and it's not for me. That doesn't make me closed minded, that make's me a person who needs a set income- in order to deal with my finances....
Which oddly enough is what Primerica claims to be able to help me with...
Needless to say... I am not attending my little seminar tonight. and those that do take the job- Good luck!
I went to an interview yesterday! I was doubtful too. This 'primerica' person was very adament about me donating $99.00 up front, then $25.00 per month to be a part of this. I certainly did not say 'yes' when leaving. However, the next morning, he aggressively sent me an e-mail to make an appointment to see me at my apartment! What was up with this? He already had it scheduled to see me and the things I need to prepare me.
Along with donating money, this made me more suspicious and bothered me and I quickly e-mailed him back and said, "I'm NOT interested at this time and I'm am unavailable for future disscussions."
A little too forceful and demanding for my taste for looking for new work. Agree?
I dont feel that this is a scam, but it is disheartening when your friends try to use their friendship as leverage to lure you into this type of business. I've heard the same "talk track" or "script" from friends that have called me asking me to join to folks cold calling with "job opportunities".
I know that my friend's parents have done this PFS stuff for about 5 years. Occasionally she makes a sale, ropes another one in. Spends money on these seminars and has very little to show for it.
My best friend called me telling me how great it is how his up-line makes a six figure income a year, and 10's of thousands a month.
I know that I wont be doing this because folks that are in it dont seem to be getting any rewards, working normal jobs on top of it.
As far as those who consider this "commission based sales" which you are right. You compare it to car sales, or real-estate sales. Have you wondered why people had car salesmen? Do you wonder why it is hard to find an agent that you can trust for real-estate?
The reason why many folks feel this is a scam is because the PFS reps seem to have a "reputation" for preying on the poor, down on your luck folks, with dreams of becoming rich, fast and easily.
Just be weary of this organization. While for some, six-figure income is great and obtainable, it probably cant be done without some lying, and minipulation of people. And alot of times it is friends and family that get hurt the most.
Have a great day everyone!
-b
There are always people who do things differently, and just because one Primerica individual did not explain the business to you in the way you feel it was necessary for you to understand it doesn't mean that the company is not legitimate. Since it is a very regulated company -- with securities, etc. -- there is no way Primerica could be a pyramid scheme. They are audited way too much and too many times. It is always funny to me to hear people think Primerica is a pyramid, but they don't see that corporate America, with a CEO and all the employees underneath them is the real pyramid scheme.
I appreciate you providing this information. To be honest I think it is alittle biased. I've come into contact with a few agents myself. There was one who was similar to the one who called you. He seemed eager and was more interested in getting me into the business than meeting my needs. Yet, I have come into contact with others who have been very honest and didn't pressure me to do anything. There are people who have had bad experiences with this company, but there are people who have had great experiences too. When you did your research, you purposely focused on those who had a negative experience by choosing Primerica Scam as your search criteria. I really don't feel like you were fair to the company or the people who are reading this blog. I am not an agent with Primera and don't do business with them, but am considering it. Being honest about your experience is great, but technically you didn't even meet with the guy and are basing your opinion on the negative experiences of others. The public needs a fair assessment of the company and not biased opinions. I wish you the best in your search for employment. Here is a story of an individual who met with an agent and benefited from the services offered by Primerica:
http://chriswondra.com/2007/11/24/primerica-mortgage-a-consumer-report/
You guys can all say whatever you want about how primerica is a scam & all that, but I have been around a lot of people who are making over 100k+ a year. I know people who are 27 years old who are making over 15k a month. Yeah if that's a scam, then I want to be involved. This is not even a little bit of a scam. If you don't do the system, the millionaires in this business will think you are crazy & if you do this business all your broke friends are going to think you are crazy. Who would you rather call you crazy? There are a lot of people that are really making serious cash doing this. For real. I've seen the paychecks.
I just have one question, where do these insurance reps get there leads from? Do they have to pay for them or are they generated by Primerica and free with a membership, or is there a non-stop cold calling battle?
I'm actually skipping the "interview" right now. After further researching the company I don't necessarily consider them to be a "scam" but then again I don't have time to invest in this kind of business venture right now. Thanks to all of your opinions
Hi to all,
I can't really called Primerica a scam but it's certainly a bad business to fall for. My husband has been into this company for the past three years and has done a few sales but he paid almost 90 percent of that income in chargebacks. I said what kind of thing is that, what happened to the time and gasoline he spent during those sales? I really don't recommend anyone to get into this business. I will say you get brainwashed just like my husband is and then you get blind and cannot listen to any advices. You get to believe that you are a real millionare but with emptied pockets.
Thanks for reading!
Hey my name is Chris...I also went to the Group Orientation with one of my friends, in Primerica...Long story short, she stopped going,and I'm still going. I have not made any money yet, but it's legit. The problem with us is that we have been programmed to work and get paid right away. Primerica teaches us to learn, observe, get prepared, love the Crusade, because theres alot of American families out there being scammed by those people that say we are bottom feeders. Look at what's happening in our economy, we won't let that happen anymore. Their here to help, that is what they have teached me, and motivated to do. Trust me, I wouldn't allow myself to be scammed.
Scam or no, I find it interesting that all of the commenters who are 'pro' Primerica are using the same wording, phrases, and even unusual capitalization.
What I would really like to know, though, is how did all of these happy Primerica representatives come across this blog? I got here by beginning to type Primerica into Google and then selecting "Primerica scam" from the options. This blog post was the number two result. I'm reminded of something I heard about a while back, I think in a marketing book. It seems that many companies will actively look for mentions online so that they can promote the positive ones and try to minimize or downplay the negative ones. I wonder if reps are given some sort of dictum to flood any negative postings with glowing reports about their experiences with the company?
Or maybe they're having some doubts about their jobs...
thank you so much, i am in your exact same situation but i just went to the interview today.. it was about 15-20 minutes long.. he seemed very vague about everything. im supposed to go in for a seminar or a meeting or something but its not happenin.. too many people say bad things about it.
mago de oz is the best rock band ever.....?
Very interesting comments on this blog. Our society feeds off of negative comments. How do millionaires become millionaires? First of all they don't care what people think of them. I grew up thinking that I would just be like my father, working a 9-5 and doing what someone told me to do. I am tired of that!!! Do you consider yourself a leader or a follower? Primerica may not be for you but I will tell you this, if you educate yourself on how we need to stop spending more than we make you would be better off that 75% of middle-income families. That is who we educate because corporate america does not care about them. Understand how you are taxed and what it means to financially independent before you accuse someone of being a scam.The main reason people are not successful in Primerica is because they are fearful of changing their habits.End of story!!
I am never going to make my resume public on careerbuilder.com. Right after the 15 minute company overview, my recruiter suddenly wanted me to have my parents meet with him. On top of that, he wanted me get my parents to gain some referrals. After all the suger coating talk, he was very invasive. Right then, I stopped the conversation and decided to leave. As I left the main door, he was still trying to lure me back in the office. He even said "we don't need your $99 and the monthly fee $25". Lucky for him, I wasn't even thinking about those fees. But I realized he was pitching one of his tactics to persuade me. As I headed to the elevator, he said to me "fine I'll just reject your debit card payment and rip up your application". He made it sound like I was on the wrong side of the moral spectrum. Later that day, my parents and my friends told me he attempted to RECRUIT THEM. What a bastard.
And it disgusts me how these successful Prim reps put down hard working people. Why condemn people who feel comfortable receiving a guaranteed paycheck every week? I highly doubt the successful Prim reps have achieved success just by their product alone. As stated in earlier posts, they depend on additional recruits to see those extra 0s.
If one person as a Prim rep makes a six figure income on recruits, you think he's gonna give two s*** about how next guy up is benefiting from this? Of course not, as long as he's getting his chedder. Now how about people way below this ladder?
Maybe if people were more smart about investing/saving their money and getting better at their profession, they wouldn't need advice from these so called financial advisers/strategists.
On top of that, you wouldn't have to cling onto this financial dreamworld these MMM companies are trying to pitch you.
Also, I am a business person myself. I actually like to be successful by selling a quality product instead of using it as a mirage.
Sorry I don't need to use friends and family as assets to become successful. Fuck you Primadonnas.
Alright here we go:
1) Primerica disciples - and MLM disciples in general - don't realize that the "independent contractor" feature saves the company big bucks. They don't have to offer you health care benefits or match your 401(k) contributions. They save on unemployment insurance, payroll services and accounting, and bonuses. There's less paperwork, less hassle, and last but not least... no liability. You are on your own.
2) Why are the disciples sitting at their computers defending Primerica? Does something that good need to be defended? Shouldn't it speak for itself? Shouldn't they be out spending their enormous commissions on steak dinners and vacations? I'll tell you why. It's because Primerica is MLM. And MLM works better if everyone believes in MLM. How could they recruit a hundred people to recruit a hundred people to recruit a hundred people if there are people out there bashing the entire MLM system? If even one person closes his or her mind to network marketing, it cuts off a possibly endless branch of recruits who can recruit more recruiters, who can in turn recruit more recruiters. That's just one branch. I can see how compelling it can sound to a greedy person - or an unemployed parent - when a good talker paints a picture and puts dollar signs on each leaf of the branch.
3) It shouldn't even have to be said that pitching your friends and family is the ultimate sign of disrespect. A person who pitches Primerica to me is no friend of mine. A family member who pitches Primerica to me has strained the relationship in such a way that it may never be the same again. it proves to me that they view me as a lead, not a family member or friend.
4) Condescending remarks suggest feelings of guilt (unless of course the person was just born a bona fide asshole). The people who most fervently defend MLM feel stupid that they fell for it, but are too proud to admit it. So they continue the lie forever. They're "independent agents" who haven't yet figured out that they'll never be one of those people who makes tons of money, as was implied in the pitch originally made to them. In a few years, they too will see the light. The bright shiny light that reflects off of an empty money clip, or the rear view mirror of a car being repossessed.
5) If you have a mortgage, a car payment, utilities, insurance, an appetite for food, kids, etc... how can you possibly remain forever ethical when everything in your entire life rides on this one sale, or the next one? A solvent company with successful, profitable products should be able to provide basic survival pay in addition to commissions if they want to make or retain a reputation of integrity and honesty.
6) Taking a cut from the income generated by the recruits of your recruit's recruits is downright greedy. It's not honest work. Plain and simple.
7) I'm all for entrepreneurial endeavors. But I also know that not all day jobs are as oppressive as MLM'ers say they are.
8) In response to this Primerica disciple: "Sometimes if it sounds too good to be true, it's because it's too good to pass up." at 9:30PM --- Holy Crap!!!!! I wish I knew who this person was so I could sell them something... ANYTHING!... No not really. That would be wrong. But geez, wouldn't it be a fun lesson?
9) Regarding the analogy to real estate and auto sales. There are some HUGE differences. Realtors and car salespeople don't ask every single warm blooded human being they meet if they are looking for work. They also don't recruit people to recruit people to recruit people, with the intent of taking a cut of everyone's income. Don't confuse a recruitment with a referral. Of course real estate people would like you to mention their name when your sister wants to sell her house. But you can usually rest assured that the realtor won't try to recruit your sister into the business (of real estate OR recruiting).
In conclusion... Primerica sucks. And MLM is just creepy and cult-like. You freaks!!!!!
Ok..... So i went to the interview today and have not been asked to pay aything ( if i am the only thing im paying for is to get licensed with the state). Im not sure if thats because the lady that interviewed me didnt want to be so up front or what. But i like to give everything a chance and Suprisingly the lady that interviewed me unlike everyone elses experiences didnt try to sell me anything while interviewing me. And when she called me she didnt make it seem like it was the job of a life time When i got to the office it was not runddown or anything i actually looked nice. From what i have read online its not for every one. Im supposed to meet with the lady again tomorrow and well im going with an open mind. And im a very honest person so if something doesnt sound right then im going to definately speak on it. And im also going to ask a lot of questions tomorrow. Hopefully when i find out the actuall out come unlike the person who posted this who didnt even meet with the "recruiter" that i will be able to come back and share it with others....
Is primerica a scam or do you just have to have a business mind???
Im leaning more towards its legit and you have to be business minded But i wont find out till tomorrow....
I just fell for the Primerica scam. Like the posts before I was waiting on table of the Primerica employees, one of them asked for my phone number and told me she was expanding her buisiness and wanted me to work for the company. She never told me the company name, she never told me the positions, she just told me to show up. hearing "financial company" flattered me and made me feel safe about the "open house" she wanted me to attend, she asked me to come a little early so she could get me coffee and introduce me to the president. Wow i though this woman is really impressed by me. So i went, sat through the presentation, wasnt really impressed, but was intrigued. Im not a stupid person, but some how they got me to give them my bankaccount number and permission to take out 99$ and 25$ a month optional, but mandatory until you cancel it. Within an hour of leaving I called the woman that recruited me to put a stop on my signature and told her i wasnt interested in the opportunity. She told me that the mail had already came and they had already proccessed it and I could apply for a refund. That is the point im at now, i emailed both areas to tell them to refun and cancel me, and now ive done the research and found out how much of a scam this company is.
SESAME STREET ECONOMICS - 1 - If you are only licensed as a life insurance agent and a mutual funds representative and you believe you can take a wholestic financial planning approach you are wrong. Let me ask you how you’d hedge a portfolio against systematic risk. Sorry diversification is a text book wrong answer. You are in denial if you think you will get rich off these products alone that have a small trail and a trail only if you are even licensed with your 6 or 63. That isn’t half of you on this page. Your “business” which is a Multi-Level-Marketing, hence largest finanical services MARKETING org; notice the legal lingo that requires them to use marketing because you are definately not the largest financial services organization, is based very much so on recruiting. I’ve done corporate recruiting and guess what, not everyone wants to change thier life to a MLM anyone with a pulse can be a client life style, and believe me a salary PLUS commission is for the talented and truly competent; Anyone can go grab a commission only job at any financial services competitor. Sorry to say but the reason you are new to the industry and not receiving salary plus commission is because you have a history of slacking off in either your academic studies or other employment; hence your last desparation to grab this opportunity that you’ll soon find has a very poor pay out. If you are really interested in the financial industry obtain a series 7 license and 66 license your CFP and learn all the capabilities out there so you can really help people without being limited by primerica’s philosophy of that you only need these few products. You have fewer fund families than a 401k which is sad, and a “common sense” annuity; give me a break. It’s funny how you’ll criticize MetL life insurance and then go and use thier annuity product. Where is the falacy there?? Anyone?
What you sell is sesame street economics to people that really have had no exposure to the industry. You exploit their lack of knowledge and use primerica slogans for every aspect of the business. When you are a parrot repeating the same lingo it is apparent you’ve given little though to do actual research yourself on the markets or how different asset classes are even correlated. A freshman with one econ 101 course could do circles around your fabricated knowledge of what you think is this whole financial realm. Well wake up and see that your not only doing an injustice by blindly leading these client sheep of yours to the slaughter house, but to say it’s in the name of doing what’s best for clients; seriously; go study, pass exams that qualify you to actually financially advise, which is not the 6 or 63 or life, health, ltc, and do us all a favor and use some self due diligence and educate yourself first before you just try and sell stories and common sense catch phrases that sound so ammature and weak. Now you can’t call yourself a financial advisor or planner because you legally are not aloud because you are completely not even close to being qualified so like i said do us a favor, go to citi.com and search for primerica and see that your parent company is so shameful of you the company is nowhere to be found on any of its main web pages. Our competitor Smith Barney of course, a wirehouse, is reputable and where they send clients for investment advise and financial planning. Guess how much pfs pays to use the citi name… how bad does pfs have to milk that too… it’s so funny… well whatever helps your denial keep feeding to each other. It’s like a bunch of fat kids thinking that cake is actually healthy for them if they wish it to be true. Well keep doing a great job pulling in that first paycheck that’s your life and health reembersement and make sure you keep outfitting yourselves as unprofessional as possible when you show up in t-shirt and jeans to your little pep talks. and secretly i know each and every one of you has a pfs life policy… u know u do too… who did u compare it with…uhh that’s right.. no one.. u bought in to it all ;p
RECRUITING JUSTIFICATION: well lets see.. get the blind teaching the blind and say “who am i to judge who will make it or not” and yes then you can put your head on the pillow at night.. well, that’s if you have no real judgement and are more motivated by what, oh ya, the dream of money and success; ah so hypicritical. So i get a stupid 18yr old and sell him/her the world. They feel all excited b/c they are this business owner or soon to be business owner lol. They “spread the word” and the “regional rep” takes him/her on appointments and closes all the business making more on the business than the junior rep.. which u all think is justifiable but in reality the person with the actual relationship makes the most. Well then the 18yr old just gives everyone he knows away the senior guys are happy and the junior guy thinks that’s great, but then the will runs dry.. uh oh.. now its time for real business and talking to people we don’t know.. ummm how about we just get another idiot to be convienced to join and we’ll exploit his “warm market”.. and round and round this vicious cycle we profit… the 18yr old tries to coach, but can’t… why.. he’s not licensed or at that level.. hey they never told me that… so yep.. that regional or rvp gets all that business… and u thought u owned a business… uh no… but ur are a 1099 employee.. wait.. don’t u criticise them too.. umm ya u do.. wow.. so many flaws in this model.. so there lies the reason to recruit.. it continually opens up that persons warm market and u move on.. u sleep at night because you say, who am i do judge someones potential… well wake up people.. you are judged every single day by your potential and rightly so.. are you going to tell me your fund managers don’t judge funds potential based off history and past performance… or do you want there money invested in a company where they say.. hmmm hey lets give them a chance… no.. just doesn’t work that way. Oh and all this talk about how everyone else out there is Soo unhappy in corp america… let me ask you your positions you had before.. mcdonalds and wallmart don’t count as corp america. ya you have a few people with reputable backgrounds but there is a reason they didn’t make it in thier industry either.. and to say all those people that make it are “evil” well is just irresponsible and makes you look so amature. Who are you to assume everyone is dissatified. Many people that are real entrepreneurs not fake MLM ones, are happy and many people in other fields are just the same. But you negative people have to just talk crap about everyone else to make yourself feel better… or atleast you exploit the 18yr idiot… i think i’ve seen as high as 40yr idiot at a volnerable time in their life… so rest easy
Wow.. those are some harsh comments.. mixed with some acurate and insightful ones... I can tell you as a Primerica agent that this is not a scam.. I paid to get get into the business, show up to all the meetings, and while yes I recruit and bring people into the business... I'm also very excited to say that I help people in the process. Our mission statement is to Properly protect families, get them out of debt and financially independant...what other company out there especially during this time with out cruddy economy can say that and stay true to it??? WE CAN! What my company and my business partners and I do is life changing! Yes we're "fanatically excited" but that's because we know and have seen first hand what our "limited products" can do... Are there other products out there?? Yes, but can they do for families what ours do??? NO! We've been doing what's right for the consumer and right for our agents for more than 30 years and will continue to do that long into the future. If you're willing you can visit www.primerica.com for an acurate picture of our company!
And fyi it's not that primerica doesn't work it's that most people don't work primerica.
Thank you so much for this post. I just made an appointment with Primerica last night. I myself was skeptical only because I hadn't posted for a job with them directly. Your conversation with the recruiter was almost word for word to mine! Knowing that it's 100% commission, I'll be canceling the interview. Thanks again!
To all the people that has thought about joining primerica, my suggestion 2 you is to go to the interview because who knows maybe it is something 4 you maybe its not ive been in primerica 4 3 months now and im making good money, really good money, my friend is in primerica also we got in it together but hes not making any money at all and hes thinking about quiting.
I know this is an opportunity and as such its not for everybody because if it were it wouldnt be an opportunity.
So to all the people that look for answer not to join primerica let me tell you, you are wasting your time, you should go, and check it out for yourself no1 is gonna put a gun in ur hear and make u join primerica its up to you so just be a little bit open minded and open your eyes 2 a different type of a career.
Thank You
Hmm wow!! For all those people who are bad mouthing Primerica because they don't know what's the business is like or they "heard" it from a "friend" or something. All I can say is you are an idiot.
Like it's not a scam at all!! And definitely not a Pyramid Scheme. Um a Pyramid Scheme is illegal. It's when the money only goes in one direction (up). In Primerica, you get paid on the services that you do.
Well Primerica is on a commission based business meaning if you or your stupid friend didn't do anything like just sit lazily talking crap about something, then nothing will happen to him or to you.
Tell this to the person who went to Primerica and not successful "Did you get licensed? or Did you follow and actually do what they're trying to tell you". I know 100% sure that s/he would say "No". S/he just started building a business then quits. Wow what a "reliable" person s/he is.
Hmm, brainwashing...Well how can that happen. Well if brainwashing means gift from the heavens giving you ultimate freedom, making your dreams come true and giving you a very successful life and they are all real. Then sure brainwash it is.
So please for all the idiots out there who thinks Primerica is a scam. All I can say to you is have fun with ur sucky life since I'm having a time of my life.
For all the stupid people who says bad stuff about this company, C'mon If you can't make about 100 grand a year, doesn't mean nobody else besides you can't do it.
Please search your stories and your sources carefully since I don't think you know what the heck are you talking about. Get the real facts about it, not some mumbo jumbo crap some people talks about.
Well for those people who thinks having a job is better than ultimate freedom. Well it's your choice to suffer your life. While me, I'm enjoying my life to the fullest. Well I always love traveling once a month to Fiji and other countries.
They gave me a magazine that had a whole write up about how wonderful primerica is. The problem is the magazine is oe of their marketing tools. It was volume 1 issue 1. Why would they use a fake magazine to try t impress me? The other thing is why would they tell me to read the Magazine an not research the internet. As far as the products the company offers they are real. But to use MLM to sell them is wrong. People have families and they need to eat. This business model preys on poor people who have no Idea how hard it is to get moving in an ultra saturated business market like insurance and mortgage. If you are independently wealthy and extremely motivated you could make money with Primerica. If you have to hold down a night job to make it go you should probably reconsider your choices. I am certain there are tons of poor folks out there that have found themselves in bankruptcy trying to make hge "commissions" that dont come right away. They also state on the contract that you sign that it takes a substantial period of time to collect the money that they ntend to pay you with and that you understand that. They were after me like mad after
I came in for an "interview" the office looked like a setup from the word go. The regional vice president tried to tell me that his boss "the owner" who was working as the receptionist coud sell the business she has built for millions but she mkes way to much money. I know one thing for sure, if she has millions she could get some one to answer the phone. Not just fishy, more like a dead rotting beached whale.
Hey idiot, that's what we do. We prospect people who hates there jobs. Well Im an RVP and it tooked me 2 years to do it. All I can say is it's hard work at first but I tell you the pay gets bigger every year if you work really hard in this company. if that girl that makes millions just asked someone else to do it, then she's not doing her job. Well to be honest I dont really care if you don't want to change ur life, if you want a boss instead of you becoming ur own boss.
Scam??? Well right now is one of the companies trying to help homeowners fix their mortgages,(Only giving fix mortgages rates while their is a all bunch of well known banks sruwing with people with all those ARMs mortgages) helping them get their life insurance that they need and open their eyes about whats "cash value life insurance".... that is a really scam where you have to pay to borrow your own money !! Well get your information right people!! And one more thing I think all the institutions all over the world are a piramid, you have a boss, a manager, supervisor, shift manager, thats a piramid ( on mine point of view) You could get to be one of those at any time, but their is only one boss and is not going to be YOU!.
Not to offend anyone but if you write this junk about Primerica then you should not be talking at all because I'm in Primerica and it's the best oppurtunity that I have had in my whole life. Many of you who write junk about Primerica like to be bossed around and not getting paid what you are worth.
i have a ex girlfriend in the business, she's been in it for about 8 years. to this day she stuggles to make ends meet. and she's a senior regonal leader. one step down from r.v.p. we broke up becouse she had no time for a relation ship. which is fine, but it's been a year and she's still in the same boat. the money she makes in primerica she has to put it right back in it. there's the saying. the money that money makes makes more money. smoke another one buddy. she told me that business will always be there because the average familys refis every 4 to 5 years. so what help does it do to say you help people if they are to refi every 5 years on a thirty year mort. for there whole life or refi on a fifteen there whole life.
oh ya theres (but we can free up 200 to 600 $s a month. i'm sorry but if i have 20 $s in my pocket on monday or 40 it will be spent by friday. and that's the way the world works. i do agree with one thing yes cash value life policys are crap. tearm is so more realistic and better for familys and not the agent selling it. but please do your research. there's cheaper life ins. and they have the same pros and cons. as primerica life. and not only a client but i WAS an agent to two years. i'm more in dedt then when i started. and i could sell ice to eskimo. if you work in the business good for you. if it works for you, thats great. but open your eyes and look at the bigger picture. what are you really doing to the familys with there morgage. giving them a smaller monthly payment when you add it together. but a payment on there house. but hey you don't have all the credit cards and car or tuck loans any more. thats great. so when times get tough and you can't make you house payment you can live in your car and burn your cards for warmth. when i sold the home loan part. the big thing was (don't worry we won't sell your loan to another bank only if you were to go into default. but we never said what percent of our clients ended in default. that is something no one i knew at the office could tell me. I WONDER WHY. thanks for reading this. and agian i don't mean to affend one but i seen it all.
I just returned from a Primerica recruitment meeting. I had posted my resume on careerbuilder.com and was contacted by one of their RVP's. I attended and it looked legit (and it is). However, the RVP's and the director of the office circulated around the room before the presentation to "introduce" themselves and were asking some very personal questions, such as marital status, what their spouse did for a living, what our work background was and whether or not we owned our own home, and I even heard one ask a woman with an accent "where the accent came from". We then watched a power-point looking presentation about the company and how Primerica was growing in leaps and bounds, and how WE could be the key to more growth and more money in our pockets. The director of the office then gave a 30 minute "rah-rah" speech. The excitement and enthusiasm that had been generated up to that point quickly dissipated when the $99 background check fee and the $25 "business maintenance fee" was briefly shown and quickly passed on by him. Yellow cards were then passed out, asking for our names, addresses, phone numbers, whether we wanted a "complementary FNA", were we interested in "part-time" coaching and training and the name and number of a referral. After the presentation, those of us that had been perused and approved by the RVP's during the presentation as likely candidates were approached as we got up to leave and were asked to stay for a "one-on-one" interview. I along with another woman was asked to hang around by our RVP "buddy." I said I had to use the restroom, so my assigned RVP took the other woman into an office. I went to the restroom, returned to leave the restroom key and left the building. My RVP buddy Troy called my cell before I was even halfway home. I did not take the call. I expect more contact by him tomorrow, and I will tell him thanks, but no thanks. I despise having to generate business prospects through recruitment of my family and friends. It's rude and disrespectful. I once had a co-worker who joined Amway/Quixtar who constantly harangued me about joining the wonderful world of Amway. She once even invited me to her home under the guise of a "party" and then proceeded to pitch until I became disgusted and left. I have worked in commissioned sales for many years, and know how to sell, but my job and my income never rested on whether my friends and family came into my store. There are people who will do this for a buck, but I am not one of them.
Thank you for this blog, I just received the same exact phone call less than 20 minutes ago and immediately looked up Primerica. I've been "recruited" for pyramid schemes before, and this sounded eerily similar.
I think that's the main point in all of this: sure, Primerica is an entrepreneurial opportunity that for some, might eventually become profitable. BUT, it is also a scam and extremely deceptive. For instance, why would my caller tell me that they are "offering full and part-time opportunities." Doesn't that sound like a job? Doesn't the entire, scripted phone call sound like they are looking to hire an employee? Why not just be straightforward and tell the people what they really are? Most likely, because at its root, Primerica is fueled by scamming unsuspecting people who don't know any better into shelling out $ up front with virtually no cost to them.
High turnover rate indeed. They're not recruiting future entrepreneurs, they're not looking to provide a valuable service, they're just looking for suckers.
I am a Regional Vice President with Primerica. After I spent over 8 years in corporate america in the oil business after getting my degree from a VERY reputable university, my company went through a merger and I was gone; wife at home with our new baby and no job. Thanks corporate america! Thank goodness I had started part time with Primerica. I have been with Primerica for over 7 years and after a lot of hard work, I make over $100,000, my wife is a stay at home mom, I have my own nice office 15 minutes from home therefore I don't drive in traffic, I set my own schedule and have the free time to what I want when I want like eat lunch at school with my 7 year old. Or take him and my 3 year old to school every day. How many dads would love to do that? Primerica is not for everyone and everyone will NOT be successful. Get this, you must WORK!!! This opportunity, not JOB, is a heck of a lot better than what most of you do or will end up doing in your life because you took the career advice of losers; switch jobs or get laid off every two years, rack up thousands in credit card debt, cash in your 401k's to pay bills while your are out of work and be 50 years old with nothing in a savings account and nothing saved for retirement. How does that sound? I have plenty of families that this was their story before sitting down with us. Now they are on track.
As for being an MLM, we are not. You have to be registered as one in your state and Primerica is not registered as one. But even if we were, so what! MLM is just a way to distribute products; Mary Kay, Cutco, Metabolife, Ignite to name a few. Most people have heard of Warren Buffett. Did you know he bought and owns a company called Pampered Chef. Pampered Chef is a company that sells cookware at group parties where the host invites their family and friends to buy cookware. Why did he purchase Pampered Chef? Because of the incredible growth they have acheived AND because of the way they "MARKET" their products, MLM. Mr. Buffett knows a little bit about making money, don't you think? Our government is looking to this guy for financial help.
Are there people in Primerica that don't do things on the up-and-up? Unfortunately, yes. But there are also very good people in this company that truly want to help families with their finances and also give them an opportunity like the one this company gave me and my family? Yes!
Good luck to any of you with your interviews with Primerica. Give it a listen. To those that think Primerica is a scam, good luck on your interviews with the companies you think are the "real" things and are going to take care of you and your family. Watch the news. AT&T just laid off 12,000. Where do you work?
For anyone that said that working with Primerica is cheaper than obtain a Real Estate license is stupid and dont know what the heck they were talking about. Im a real estate agent. What does it cost me to be one? $250 for the class. Another $100 for the test to get the license. Thats it! Nothing else. When you got a license, you can just join any real estate firm. All resources are available to you at the office. You close a deal, you take 70% cut. Average for a $300k home at 3% comm, you will pocket $6,300 + the loan commission. At some place now ,you can take 100%, and you only have to pay 3-400 for that transaction. Thats it. Do the math. Which better?
You just sold me on getting a real estate license. Yeah right! You mean to tell me "any" firm will just hire you? You just walk in off the street with your license and you "join them" and they will take you in? Yeah right! As far as your costs, you mean you don't pay rent in the office you work for, you don't pay for advertising, you don't pay for business cards, you don't pay for continuing education each year and you don't pay the broker anything when you sell a home? This is sounding much better than Primerica OR wait, very similar to Primerica!
At Primerica, you pay $99 for your state life and health license (contrary to what you may have been told, you do not have to pay the $25/month if you don't want to. It is not mandatory.) and the $800 securities license is paid for by Primerica. Your mortgage license is $100 and your legal license is $60. So do the math you idiot! You said you paid $250 and $100. That equals $350. With Primerica $99 + $100 + $60 + $0 = $259. "Thats it. Do the math! Which is better!" (Good thing your not in financial services. You don't know which is the smaller number, $259 or $350. (But hey, since you don't know the difference between bigger numbers and smaller numbers, I know a great whole life insurance company that would love to have you work for them.)
And for those that say Primerica is an MLM, why doesn't this realestate agent get to keep 100% of what he makes when he sells a home? Because he has to pay the broker his share. What! You mean the agent does all the work and the Broker gets a cut of that? Thats not fair! Sounds like an MLM to me. What do you mean, "some places now you get to keep 100% but you have to pay $300-$400 for the transaction." Pay who $300-$400? Oh thats right, you pay the BROKER! You mean the agent does all the work and the Broker makes money off of him? Real estate must be an MLM all the way!
Real estate is not an MLM nor is Primerica and Primerica pays and works just like real estate. You sell a home, you make a commission and the broker gets paid a portion off the agents sale. Primerica, you help a family with a mortgage, life insurance, an investment, etc., you get paid and the RVP (Broker) gets paid off the agents sale.
Here's some useful advice for anyone in sales: people make decisions intellectually, they buy emotionally. Which means, you can't sell anybody anything on features and benefits. If you can't find their pain first, they won't buy. America is in pain, all of us. We wake up and hear about it everyday. 10million people have lost their jobs this year alone so those cubicles you're working in are not safe, the office on the top floor is not safe, your Havard degree is not safe, the Wallmart worker is not safe. We have all lost trust in America and the best way to let out frustration is to continue to find fault with everything someone else is doing because misery loves company. If you want to toot your horn about scams, what isn't a scam in today's society? This country was built on freedom and the right to be our own boss and have that dream of being independent. I don't know that much about PRIMERICA but the company has been around for 31 years so it must be doing something right. You people that are happy in your 9-5 job getting a guarantee income stay with it. But don't cut people down who venture out and do a real job based on commission only. It's lke the Pope on birth control, if you don't play the game, don't make the rules. Who's to say what is a scam and what is legit these days but take a look at where you are sitting and what you do everyday and who you do it for and ask yourself if you are being scammed as well.
Ok you peeps! If I was to offer you this particular job in theory I want you to answer Scam or Not a scam!
See what we can assess. Because you all seem a little lost! I lived in the UK for most of my life and have dealt teeth in face with a lot of buisnesses like this!
Here we go!
I can help you make a lot of money... You are in debt, but I am going to ask you for money so you can work here! I of course will earn $500 from recruiting you, but only if you buy into my insurance scheme! Oh by the way I can also offer you a great deal on car insurance, but shhh we won't talk about that until you have at least signed on the dotted line and given me lets say $99 and bought a website facility for $25 a month! I will give you a domain name and access to all the tools you will need. Oh by the way when you recruit other paople into your little venture, i want you to write down all there names and addresses, and keep tabs on them, as you know things can get lost within a large company inventory. You should look after your own! But hey when you have recruited several people you will be earning what I earn... Um but I'm not going into that, you will soon learn how much you will earn from paying attention to the volumes of sales you and you sublings are producing. Of course this may not work at first, but if you give it a few months, but by the time you have earned $1000 you will have already got yourself stressed so much with all the debt you have now... that you just wont be able to face work. So I can now take charge of any work you may have in the pipeline. So I thank you for joining my team. Have fun at the local strip club meetings!
Ok Scam or Not?
Welcome to PRIMERICA!
Oh and by the way... ask your local RVP for his/her home address so you can discuss the matter further, and so you can drop in your bank details!
I'm sure any reputable person will do this for you, since you are giving then such trust in the confidential information you are giving them!
Anyone with the slightest notion that something will or could go wrong within there company won't do this! And don't give me any of that crap about why should an RVP give his/her home address! Well if it's good enough gor them to know my address and securities, then it's good enough for me to know theirs!
Yup I even know where my Bank manager lives! :p
Sorry about the typo's! How on earth one gets to own his own business with such crappy spelling is beyond me!
I GIVE UP.
The disciples keep posting the same fictitious praise (with eerily similar phrasing... coincidence?) over and over. When I think about it, I'm reminded of religious zealots, or scientologists, or people who support the Bush administration. They'll never let you tell the truth about their god, cult, or incompetent president. Same with Primerica.
If you join Primerica after diligently reading ALL of the comments here, then you're an idiot and you deserve what's coming to you.
First of all, you should research your idea of multi-level marketing... pyramid schemes are illegal.... mlm is okay if you have the right vehicle... Primerica is NOT a scam... ugh, that word is so ignorant... we don't make $500 from hiring someone - who told you that? The $99 pays for YOUR licensing with the state! And if there was no financial commitment, then you aren't going to make any effort! PERIOD...
My Dad has been in Primerica for over 20 years now and makes about $15,000 a month (look it up, they post their incomes!)... it's changed our family forever... but, like you, even though I grew up with it, I was skeptical...not about the company but about myself not being able to even do it!
I've now been in Primerica for 11 years part time and it's been great... I've helped a lot of people and made quite a bit of money... the issue at hand here is not with the company... it's accepting your ignorance... you have to understand that some people are not honest, especially the money hungry ones... and unfortunately, some people like that join Primerica and cause people like you to make uneducated remarks like you have... rather than trying to find what's wrong with Primerica (which is nothing), find what's right! I'm walking proof that this works... I've never scammed anyone or been dishonest... there is no need to be...
The problem that most people have is not the company, it's either that they have failed or didn't try because they were scared or the stupid agents that are looking to get people in by tricking them rather than telling them that, "Yes, this is a great opportunity but you have to go to work!" If you don't build a team of people, you will not get any overrides which means you are alone...if you aren't out there marketing your products, you will not make money... there's nothing wrong with that! Overrides are good because it's exactly what you boss gets from your efforts at your JOB!
I've learned so much about people, life, money and adulthood just by being around the Primerica environment...I thank God everyday that my Dad found this opportunity and that I was smart enough to at least try... I've accomplished things here that I NEVER thought I would!
Don't judge the opportunity because of stupid people that try to get you involved... find a better office and a better leader to follow and try it...see for yourself rather than passing judgement and giving people the wrong information....
I did join Primerica... and unless you've given it a year or more, then you really can't form an opinion about it... that's like trying to have an opinion about the President and you don't vote.... c'mon.
I recieved an email from Primerica that looked very unprofessional that stated the meet with me at a bridal show....ehich i did go to and my email address go out BUT I looked at flowers, decoraton, dresses, and ate cake. NO Financial company was there at all.
So, If its not a scam why start out lying to me? Just say "Hey, Some jerk at the birdal show sold me your email, No I want to Convience you that you can millions."
ITS A SCAM!!!!!!
Oh, and "Regional Vice President" doesn't impress me.
Wait, Wait...Awh my co-workers just made me "Regional Vice President" of breakfast! Yeah, Now I'm special! Its just a title
distric leader, low man on the totum pole. but hey it said i'm a leader. divition leader. wow. one more step up the paramid oops i ment totum pole. but i'm still called a leader. leader of what i'll let you know later. why because i really don'y know. oh but wait know i'm a regional leader one more spep up the ladder paramid, totum pole what ever you want to call it. but i'm still called a leader of something. senior reagional leader. now i've put in my years and everone above me has made more money of my work but i can't make ends meet but i'm know a senoir regional leader. wow. thank you for the title so very much. thank you for making me feel so special and keeping me on the string so you can make more money of me. ya thanks. that's like pissing yourself in a dark suit. you get a warm feeling but know one else realizes it. rvp regional vise president. oh i forgot to tell you the more money you make from scaming people we here at primerica fin serv. are going to make you spend more and put it right back into the company. you people in primerica need to open your eyes a little more. if your so confident in what you do you should tell your client to go to there local banks and see what they can do. if you were so great you would be finacing homes and not refing them. oh that's right you don't do that. i wonder why. your sheep in a field full of wolves coverd with wool. morgage agianst morgage your nothing i seen it. i was in primerica for two years. then i got a concience. sorry for the miss spelling.
Interesting article, but what a weak lame ending.
I am creating my future with Primerica. It might be the only true MLM out there, knowing what I do about the industry. But, understand its not a scam or a pyramid. The base of opportunity is to bring to the client products to help protect his family need for income if he is killed, provide a method to rid himself of worrisome debt usually months or years ahead, and provide for money needs in his retirement years. Saving his client money purchasing insurances of every kind and helping him grow his income (while protecting it with professional money managers)with the same historical advancements of the unrestrained stock market, well that way better than any bank or insurance company alone provides. Oh, there are baphoons in any professions and Primerica has some too, but the company has a outstanding proformance record from since 1977 and has assets of 8times the financial needs of the company, doing business just like they practice with their clients. I could bash the others and say you all are foolish, but whats the point? You either understand the business plan of this opportunity or you don't. We don't hold a gun to anyone and make them sign, we find those that have complaints dont fully research the opportunity and when I work for my living I want to be paid in the manner of a business owner and not an employee. Working for corporate America taught me some severe lessons, ex-Ford Manager in what was the most efficent plant in North America (until Ford and UAW made deals), for all of you that want to be nice little employees in corporate America, hows that working for you? For all you subs out there, my heart goes out to you. Yep, I bought into the system, I am growing everyday, by doing the exact same thing that those who have succeeded before me had done. Who wants to be a pioneer anyway? Most of those are laying in the dirt face down with arrows in there backs. If I call you one day, I know who you are, you are the ones that will never realize the golden watch or the pension plan you so hope to achieve, why, because corporate does not want the responciblity anymore and have the court suits to reenforce that position. It time to make your own...Primerica is but only one opportunity!
IF YOU JOIN PRIMERICA AFTER DILIGENTLY READING ALL OF THE COMMENTS HERE, THEN YOU'RE AN IDIOT AND YOU DESERVE WHAT'S COMING TO YOU.
Right there Amy Dorsey's Primerica page it states that, among other things, "Actual earnings also depend upon ... the efforts of your downlines." If that ain't MLM/Pyramid, then what the fuck is?
Now repeat this out loud to yourself:
IF I JOIN PRIMERICA AFTER DILIGENTLY READING ALL OF THE COMMENTS HERE, THEN I'M AN IDIOT AND I DESERVE WHAT'S COMING TO ME.
There you go. Now you can't blame anyone else.
IMPORTANT NEWS! READ IMMEDIATELY!
Every pro-Primerica post is a load of shit. Especially the ones below this one. Spread the word.
Yours is only voice of dissention, brother. Maybe, oh just maybe, your're bitter and afraid that you couldn't help others? Look to yourself, for the tags, for I have many years of self inflicted corporate wounds to remind me of the true opportunities afforded people. Not everyone has the mental toughness or the burning desire to succeed. All the comments in this blog are slices in time for the contributors, reading yours well...
"for all of you that want to be nice little employees in corporate America, hows that working for you?"
Jeez, most of you bastards all use the same type of insulting remark about people who have a regular steady job. You Primericans don't give a shit about anybody. You just want to build up your downline. It's no coincidence that all of you fuckers point out that it's a PART TIME gig. What that really means is "DON'T QUIT YOUR DAY JOB."
How convenient.
Good luck! Anonymous! I hope you keep that job you so diligently defend.
For all the rest, people don't plan to fail, they just fail to plan! Before, what we know as corporate America fully formed, business was done by shop owners and persons building products, a network, and in truth the manufacturing is returning to that method. If America is reduced by greed to become service related, then who will employ the unskilled? Anonymous blames opportunity, I bet his is the voice of many ideas throughout the blog world. Make your own decisions, research, and then formulate your own plan. Don't be so gullible as to believe anyone owes you a job or opportunity. The field has been prepared, the seeds sown, will you join the harvest or stand on the sideline and shout out your disappointments?
"Yours is only voice of dissention, brother. Maybe, oh just maybe, your're bitter and afraid that you couldn't help others? Look to yourself, for the tags, for I have many years of self inflicted corporate wounds to remind me of the true opportunities afforded people. Not everyone has the mental toughness or the burning desire to succeed. All the comments in this blog are slices in time for the contributors, reading yours well.."
Wooo... jedigarh gets existential on us. Sir, what matters is not what you'd like to guess about me personally. What matters (to me, at least) is making sure that not one single person who reads this thread ever gets involved with Primerica or any other MLM/Pyramid organization. Your philosophical drivel doesn't change a thing. We know the truth about your organization. I just hope the potential victims reading these comments don't believe all of your cookie cutter hype (a.k.a. lies).
Thank you and good night.
I hope you find peace. Good night to you.
Jedigarh
Wow before bashing a company why don't you try aleast than you can talk all you want. Its not fair to the other. Yes its a Pyramid scheme but what other company in this world is not made of that. Show me a company that has a president, vp or managers at different level I'll show you a mutil level company the different that define the companies is how you are paid. Just say you are not interested in commission base cause you could of ask and just because it wasn't in your feild per say, it doesn't mean you couldn't have tried. Did you know the people you seround yourself with will determin where you going to go in life think about that the next time someone tells you or its a scam. Tell me something why would a big company like Citigroup get involved in a scam... than the company as a whole is a scam...does it mean let me clos my bank account? PEACE, LOVE and ABUNDENCE OF BLESSING TO YOU ALL
Discussion as to the right of an individual to earn as his dream leads him will always develope push back from others.
Ive read where people consider this opportunity a blessing and others a curse. Simple idea is that like attract like and some will never be able to assume the role of a company owner, because there just isn't a security blanket to cling. But, the truth is (1) People will always need to provide for the financial future. (2) There just will not be a social security for many americans after the Baby Boomers retire. (3)Income protection for families is a necessary evil, so for gods sake don't make the mistake of buying Universal Variable Life products when a simple term life is more that really needed and its whole lot more affordable. (4) Americans need a forced savings program that provides a clear path to financial freedom and last but not least (5) business owners are more likely to achieve financial success than employees.
You guys argue all you want on the merits of pyramids and scams and whatever. However, Primerica is federally and state governed. Compliance laws are very strick and fines of one million per occurance is enough to drive away any and all those you might want to identify conspiracy. Look I don't care if Anonymous likes or dislike anything. I've worked for wages, salary and now commissions, and I have financial freedom now and I am teaching everyone I meet the same realities that I have discovered. Many years ago a man wrote a book, Think and Grow Rich, it describes the habits, growth and methods of a successful man. I like the quote, "What the mind can concieve and believe, it can be achieved". God bless everyone this holiday and I hope you all find you paths of happiness.
Interested in Primerica?
*** READ ALL THE COMMENTS ***
Primerica disciples will be commenting here FROM NOW UNTIL ETERNITY trying to suck you in with the same recycled propaganda.
IF YOU JOIN PRIMERICA AFTER DILIGENTLY READING ALL OF THE COMMENTS HERE, THEN YOU'RE AN IDIOT AND YOU DESERVE WHAT'S COMING TO YOU.
Don't be an idiot. Read all of the comments.
My rep ran a report for me of my debt situation for free(I am sure in hopes that I would be a client). This was all I needed, is for someone to write my debt down for me and show me ratios. Basically, he gave me the tools to pay off my debt and I paid off over $40K within 3 years. I have been debt free for over 6 months and will be buying my first property. I took his findings and tuned them to what would work for me. No commitment was required on my part to even invest. I am now going back to school for a business accounting degree, so I can legally help others with their finances. For free. The one thing that American grade schools and high schools should teach us, is finances. Financial planning is the one thing that affects every person and is a real world concern, once we graduate. I guess if our government can't control their finances, do they really want to keep us informed, so we can track their mistakes?
Please read this before wasting time on Primerica or any other company that has the word "scam" showing up under reated searches. You should have better ways to make money or just live a happy and comfortable life. I have seen many people fall for these situations so many times. Mlms, pips, high yield invstmts, etc.
They always have dollar signs in their eyes. Primerica is no different. A few years ago a business associate of mine begged me to invest in Jolly Pipster. Huge returns and a great organization. I did a simple google search and saw related searches :"scam". Within two minutes I found this to be a ponzi scheme. I showed him this information but he would not even acknowledge it. I showed him all of the bulletin boards and warning signs. Still not convinced. He sounded exactly like the people posting on the boards and blogs that would defend it against all the evil haters and people that had no interest in "being rich". Needless to say as greed set in he sank upwards of $80,000 . Months later, the ceo of Jolly Pipster was arrested and all funds lost. Now to the Primerica brainwashees thinking what this has to do with them. This is not my only experience with a frustrating brainwashing experience. I currently own a successful business that allows me to pay my bills, have a stay at home mom, and basically live a nice life. I am not obsessed with flying to Fiji every month. I will leave that for the ultra-rich(which probably do not do because how do you think they got rich?). On to my point. My best employee has in the past year had a foreclosure and just had a vehicle repoed. I pay this employee well , but the husband decided a few years back that he would get rich by joining the ranks of Primerica. Wow, since I have known him he has not really had a job. I am not sure what he does all day , but he is a business owner. Of course they hit everyone up to buy what they are selling. Friends,family, my other employees. Fortunately everyone around me usually takes my advice and does not bite. But here is the good part. Talking to them is like talking to a full blown cult member. I could say that I witnessed Primerica sacrificing a baby at the altar and they would disagree. One of my extended family members has been in the insurance field for 20 yrs. I asked about Primerica. Exact words:RUN! I said why? It is basically an Mlm that sells overpriced products through a network of people that have no understanding of competing products or finances in general. Wait it gets better. Now i just today got notice that she is quiting to work full time with her husband. They are barely able to pay rent, but he needs help running his "business" that "helps people". Sorry, but with money I help myself. I do not want to be responsible for one of the most important things in someone's life:Financial futures. Especially if I cannot make my bills. I have asked numerous times if they have made any money and they have not. I am in utter shock, but would wish the best and would also welcome her back anytime.
This company strongly resembles a cult. I cannot for the life of me see how people fall for this, but money is the maker. All the cheerleaders at these "meetings" tout how much money they have made.
My problem is that I had read numerous other posts about the same experience. This company blatantly preys off the weak. They use churches as well. Oldest trick in the book. They might as well be a church.
Bottom line: NEVER waste your precious time on these types of jobs. They are not jobs and the chances of becoming "rich" are like playing the lottery(a lot less work and stress).Along the way you will really damage relationships and basically look like a fool when all is said and done and you come out of the coma. I.E cults.
If you are good at something; do it.
If you have a good job, enjoy it and live life.
If you want to risk everything, start a business.
If you want to lose everything,
start a Primerica business. You do not have to be rich to be happy and have fun. If you want to "help" people then go volunteer at the local shelter or donate. Do not try to "fix" their financial problems.
The Primerica cheerleaders now have the podium, but it is really getting redundant.
This stuff is interesting...seems kindof scamish to me, but who know's?
If you think they are helping...than there is something wrong with that picture! What they need to do, is not help people and help them selves. Make money the real way by going out and getting a job, that will pay you for the "work" "Labor" you do, not the so called "help" that you are doing for people!
hmmm well it seems that primerica has its pros and cons considering what others have said and what ive seen on primericas websites and whatnot. But I couldnt help but notice a few things like this for instance
"Right there Amy Dorsey's Primerica page it states that, among other things, "Actual earnings also depend upon ... the efforts of your downlines." If that ain't MLM/Pyramid, then what the fuck is?" <- im gonna agree with this guy on that point. Almost all of the pro primerica people who posted here said that it wasnt mlm or a pyramid scam but on that website apparently that is true....???
I also find it funny how none of the people who are pro primerica have an explanation for this they dont answer it it seems that most of them just talk about the post infront of them that was anti primerica and how their non comisson job is total crap compared to thiers and that they dont have their facts straight and whatnot. I notice they do use alot of fancy putdowns. I wouldnt doubt it if the person who posts after me that is pro primerica will bash at me about it somehow picking on me whether it be calling me stupid for not joining or about having a non comission job. Well about the people who have regular non comissioned jobs, Sure their not making the "big bucks" or 15k a month but is the risk of not being successful worth it? i guess thats up to the individual themeslves.
Another thing i found interesting is this:
"Wow before bashing a company why don't you try aleast than you can talk all you want. Its not fair to the other. Yes its a Pyramid scheme but what other company in this world is not made of that. Show me a company that has a president, vp or managers at different level I'll show you a mutil level company the different that define the companies is how you are paid." Huh so every company is a pyrmaid scheme? which is apparently illegal?
Im not trying to completely bash primerica per say its great that some families get helped out financially and get out of debt by it but the problem i have is that alot of questions and legit points arnt being answered such as the one by the lady on the primerica website who says that actual earnings also depend on your downlines. No one has yet to explain that as not being an mtm/pyramid. That is why I am kind of leading more on the anti primerica side.
I dont know if it is a scam per say, it may not be but i do know one thing I personally couldnt live with the idea of trying to coax my friends and family to be my downlines and to join something that may or may not work out for them. What kind of friend or family member is that that tries to get money out of them? I guess it depends on how you look at things personally but i wouldnt feel like a good friend or family memeber by doing thus.
One thing is though, if your gonna try this make sure to keep your job just in case and not to have much freetime if you plan on being serious about it. A few of my friends do primerica and it severly controls their lives. They have no freetime to do anything they used to do which is sad. They have been doing it for a few months now and i just hope that they really do help people out with thier finances and make decent money for how much effort they put in.
So primerica, I say its good when it helps people out financially to get out of debt and whatnot but bad in terms of the people who call for interviews and stuff and some of the other things that happen. And dont get me wrong im sure not all of the people who try to get people to join are like the ones described in these comments but if that many diff people have complaints about crazy interviewers and people trying to get them to do it then it sounds like alot of them are like that. And think about it this is only one blog i wonder how many other people have had bad experiences with some of these interviews and primerica itself.
I too was Introduced into Primerica But my Story is of being used to Get what My recruter Wanted.I was dating a Gal From oregon who actually is part of or was part of one of the Largest Base Shops In the Portland Area. I was wanting to See the Business to see what it was about. I fixed some Dinner and we had drinks and she showed me the Plan after all of that I signed up and then Was Rewarded with Oral Sex. I also Refinanced my Home and all the Money I got Back from that She went with me to Las Vegas and we spent all of that How Stupid was I?? That was the one time I also was Rewarded the Same (OS) after Signing up For a New Insurance Policy worth about 300,000.00 needless to Say after telling her I was Not Interested in Building my own Business but to help her with Hers ( I was Far To Busy In My Personal Life) she decided that she wanted out of the relationship. I guess after Re-financing my home with Primerica at 8% and Buying an Insurance Policy that Pretty much was the amount of Services or Products that were available to me. and she was Moving on to more Firtle Ground and that pretty much I was Used for he Business. I have also Now Found Out that she has been disclosing My Financials Thru Mutual Aquantances. That I know Is a Direct Violation of right to Privacy. DONT TRUST THEM They are want to Be Financial advisors who if you really Knew there Financial Story you would run away from them
Here are questions to ponder on the situation.
1- If they sell insurance and such, why is the primary job of a newbie to recruit people and refer people?
Its clear you are upbuilding your pyramid and the referrals you give wind up being sold by who recruited you under the guise of training.
2- Why is there such a wall of negativity against them? Are all these people wrong?
3-A lot of people claim to be making tons of money( and I am sure some do) but why is someone making 100k a year(or more) driving a beat up Honda?
Food for thought
you have ask questions...why don't you contact Primerica and answer these questions thru real experience instead of passing on claims that only the uninformed are witnessed to telling.
If you have experience then I will tell you with any franchise there are good trainers and bad trainers. My business is heavy securities, family income protection and saving families money.
Second, I worked many years in corporate America and we recruited constantly. Our first role with new employees was to treat them like animals and push them so we could discover if they could stand the strain of business. 90 percent were not capable, so it was a never ending battle. Look you maybe small business or mom-pop like business but its clear to me you don't know how business is built, what models are used and how corporate structure is maintained. My experience is 30 plus years - I doubt based on your explanations or rants you're even old enough or have lived long enough to match my career. Take the time to build something and come back when you can gloat.
Oh, I am sorry I didn't answer all the your questions.
1. Your friend is in training because the educational system didn't teach her the basics of how money can work over time. Or how to balance debt to income.
2. I answered the constant recruiting, but I have one other thought...not everyone can match the rigors of rejection and become discourage...but then you probably have never built a business, either, employee! I can tell you don't even know what a pyramid is because of the simpletons use of the term!
3. Those bad trainers have left the bones of many a good person on each side of the road of success. All I can do is gather as many as I can and teach business principles to them so they have a chance, too. Usually, I find the negatives with any franchise opportunity, including McDonalds!
4. I own a 97 Acura, which I drive everywhere, at 30 miles a gallon, which is an old car. Only an idiot would burn out a new car working a business. Tell your friend my hopes and dreams go out to her and her attempt to achieve the American Dream...which is to all you nay sayers...control your own destiny!
PIT FALLS TO AVOID IN primerica. what got me in the end was all the half lies i was told. For example they say the inishal $99 is for licencing fees. what they didn't say however was that u have to front $61 for fees for the insurence exam that they will repay only if u pass and if u have to retake the test it's a 41$ fee and it gets steeper if u don't pass after that.When i was being trained they told me not to mention the name of the company this i now reolize was so the prospective recrute would not have read blogs like these and be as vonerable as possible. further what i had really wanted to do was sell mutual funds. but i learned you had to be at a certain level in the compain to be allowed to take the test or front about $500 this to wouldn't have made me quite so aniod if they had been up front about it but instead they danced around my questions for a month before they finaly told me. If u look at the number of recrutes primerica has and the money it pays its reps it is less than 500 dollars per rep per year and u know the people at the top aren't making that so anyone considering enterning this comp should know that more than 75% of new reps never see a penny. primerica says it about doing the right things for families but how is $99 plus time and fuel down help the majority of people from families who are recruted? if someone from primeca to respond i would be interested to descuss these things i'm not an unressonable person.
also on primerica's own example of the pay for a mutual fund sale earned the seller some amount that i calculated to be 12 or 17% ,it was a while ago so i don't remember which one it was, of the original invesment. i know they took 5% out of the money i invested into a mutual fund. Where is the rest of the 12-17%? and if the higher ups still got a cut the % would be even higher. either they are lieing to new prospective reps about rates or this is some sort of really well done ponzi scheme. idk if any one knows about how this work. it would be interesting to learn.
Thank you SO much for posting this. This sounds almost exactly like what I was thinking when I set up my interview with them this morning. The dude called out of the blue, I've applied for who knows how many jobs online so I figured it might have been one I'd applied for. I didn't even hear the name of the company when he said it...and he didn't even really give any detail about what the company does or why they were interested in me. Just said that his boss came across my resume and wanted to set up an interview. I found out the name of the company based on the phone number he gave to me to call "in case of emergency". This basically confirmed my feelings that it was some kind of MLM job - I'm not cut out for those - I'm actually a "Tech" guy myself...best of luck to everybody out there looking for a job...where's OUR bailout?
Remember - kindness is never weakness, the weakness lies in those who choose to abuse the kindness in others.
"Primerica Scam?" Hmm, NOT!!!!!!!!
"History will be good to me, for I intend to write it."--Winston Churchill
Are you writing yours.....
Whats this bloggers history going to look like with a negative mindset like his
If your reading this negative, negative, negative blog, then your mind will breed this bloggers negative negative mind-set IN YOU.
But lets look at this another way, and I will quote this negative bloggers own words IN HIS LAST paragraph:
"My apologies to the thousands of people that make their living with Primerica. This post isn't intended for you."
Question:
WHY would this negative minded blogger say that about Primerica?
Let me put that "thousands" into perspective; Since 1977
Over 5000 $50,000.00 earners
Over 3000 $100,000.00 earners
Exactly 62 $1,000,000.00 earners
Over 17 $2,000,000.00 earners
A couple $5,000,000.00 earners
Show me another company, business, or a J.O.B(which means Just Over Broke)with this track record and compensation where I and you can make this kind of $$$$$, than I'll quit PFS today and join you.
Show me a company that has a:
1. lower start up cost
2. lower operating cost
3. a biz that has no inventory
4. has no employees
5. products that everyone needs
6. make money quickly
7. you can date it before you marry it
8. a biz that has high profit margins
9. multiple streams of income, not one way, BUT 5 WAYS
10. Positive, positive enviroment
11. "God, Family, Business" Motto
12. Be debt free & Financial independent
Than again I'll quit PFS & join you.
This Great company will not promise you anything.
This great company will tell you its not a get rich quick scheme, there's no such thing.
This great company will tell you, "Its hard!"
This great company does'nt sugar coat, doesn't hide the truth.
Its as real as it gets, I am one of the thousands making money in this great company...
I already hear your ngative question, "Are you making that kind of money?" (Yes you did think that too)
Answer is NO.....NOT YET, but I promise you I will be one.
It was simple for me, if there are that many people making that kind of money, THEN WHY COULD'NT I?
Because I am thinking in the long term.
Still skeptical, of course you are,
but I promise you this, sometime soon enough I will get to a cash flow income that will be more than your salary, DOUBLED!!!
I have posted my name because I am not afraid and have to hide behind the "Anonymous" person.
I do not listen to the losers, I do not let others influence my decesions toward MY HISTORY.
I am looking for leaders to join me and this great company in the Houston TX area. Its a market thats wide open.
If you are willing to listen to a negative blogger, than give me a chance to show you how great you really are.
In closing:
Your comfort zone keeps you from greatness.
You either write history or you are history.
As long as your not a felon, on the terrorist most wanted list or printing money in your basement,
THAN YOU NEED TO BE HERE!!!!!!
This company is for everyone of race, color, creed, fat, skinny, pretty, or ugly.
Are you a winner? Email me
Losers need not apply.
See you at the top!!!!!!!!!!
I LOVE PRIMERICA!!! I joined 6 months ago and I LOVE IT!! I have a financial education now, a mortgage license, a life producer license and I make over 5k a month!! PLUS BONUSES EVERY MONTH!!! I love it. I don't care what anyone says. This was the BEST decision of my life!!! In only 6 months, I expanded my business and I am on track to be a millionaire. For some people it takes time, but I moved fast!! And I don't even KNOW anyone who owns a home. It's so so so great!! I will never leave!! GOD BLESS PRIMERICA. It changed my life in so many ways, I could cry. Success is not for everyone. Those that didn't succeed did not put in the effort. Simple as that.
We are what we think. So, how do you think? World Class or Middle Class?
The Middle Class competes..the World Class creates
The Middle Class avoids risk...the World Class manages risk
The Middle Class lives in delusion...the World Class lives in objective reality
The Middle Class loves to be comfortable...the World Class is comfortable being uncomfortable
The Middle Class has a lottery mentality...the World Class has an abundance mentality
The Middle Class hungers for security...the World Class doesn't believe security exists.
The Middle Class sacrifices growth for safety..the World Class sacrifices safety for growth
The Middle Class operates out of fear and scarcity..the World Class operates from love and abundance
The Middle Class focuses on having..the World Class focuses on being
The Middle Class sees themselves as victims..the World Class sees themselves as responsible.
The Middle Class slows down..the World Class calms down
The Middle Class is frustrated..the World Class is grateful
The Middle Class has pipedreams..The World Class has vision
The Middle Class is ego driven...the World Class is spirit driven
The Middle Class is problem oriented..the World Class is solution oriented
The Middle Class thinks they know enough..the World Class is eager to learn
The Middle Class chooses fear..the World Class chooses growth
The Middle Class is boastful..the World Class is humble
The Middle Class trades time for money..the World Class trades ideas for money
The Middle Class denies their intuition..the World Class embraces their intuition
The Middle Class seeks riches..the World Class seeks wealth
The Middle Class believes their vision only when they see it..the World Class knows they will see their vision when they believe it
The Middle Class coaches through logic..the World Class coaches through emotion
The Middle Class speaks the language of fear..the World Class speaks the language of love
The Middle Class believes problem solving stems from knowledge..the World Class believes problem solving stems from will.
This is the truth,like it or not. If this offends you, you probably think like the Middle Class. If you nod your head in understanding, you are probably a World Class thinker,or becoming one. The good news is we don't have to stay where we are: we can change anything and everything about our lives if we really want to.
I learned this in Primerica,but I'm sure there are other businesses,organizations and relationships where these truths are taught and lived. The key is not where you learn and grow, but that you learn and grow.
Most important of all if you are looking for a new JOB and are not already working then this may not be for you. It is meant to be a supplemental income at first then work you income up while building a business in a business to transition into full time. It is possible to do this just takes some time, hard work, and commitment. So if your not really a motovated people person then you might want to rethink getting involved but if you are a special someone with what it takes then go for it. They are highly regulated and you must become state or federally licenses. Also as far as pyramids go most regular jobs are pyramids if you have employees and bosses, think about the higher you get the few there are and the more you make, most jobs sound like a pyramid to me.
I received a call about 10 minutes ago with this same information i just ended up hanging up on the guy since it sounded like a scam but then felt a little bad and decided to research to see if I had missed a good opportunity..turns out my gut feeling was right thanx!
Your comfort zone keeps you from greatness;
If Primerica is out of your comfort zone, congratulations, you've just enslaved yourself to a another human.
Thats awesome, you like other people dictating how much you make, and control your time, effectively controling YOUR quality of life.
Winston Churchil said, "History will be good to me, for i intend to write it."
I'm writing mine with Primerica.
Who's writing yours
Mr. or Miss. EMPLOYEE
Here is a website that will give a truly informed and objective analysis of Primerica.
http://www.ripoffreport.com/reports/0/229/ripoff0229393.htm
This report is objective and based on FACTS, not hysteria, fear, brain-washing, perception, small thinking, or self-righteousness.
Enjoy
CERTAIN PEOPLE SAY THAT PRIMERICA DOESNT WORK.
WHAT I'VE FOUND OUT IS THAT THOSE PEOPLE DONT/DIDNT WORK FOR PRIMERICA.
PRIMERICA IS A BUSINESS NOT AN EMPLOYMENT. IT IS BASED ON A COMMISSION; WHICH IS BETTER THAN A SALARY BECAUSE YOU WORK AS MUCH AS YOU WANT TO EARN.
IN A REGULAR JOB; EVEN IF YOU PUT ALL YOUR BEST, YOU'RE STILL GOING TO GET PAID A SALARY, BASICALLY...YOU ARE LETTING SOMEONE TELL YOU HOW MUCH YOU ARE WORTH.
PRIMERICA HAS A LOT OF OFFICES.. THEY ARE LIKE.. FRANCHISES.. LIKE MCDONALDS.
YOU GO TO ONE MCDONALDS AND MAYBE YOU'LL LIKE THE MCDONALDS FROM THE OTHER SIDE OF TOWN BECAUSE ON THE OTHER ONE THE PEOPLE ARE NICER [WHATEVER THE CASE MAY BE].
IN PRIMERICA THE OFFICES HAVE DIFFERENT SYSTEMS, DIFFERENT WAYS OF TRAINING, ETC... THE SYSTEM AND TRAINING ARE CREATED BY THE RVP.
SOME SYSTEMS WORK.. SOME DONT.
I AM DOING PRIMERICA.I HAVE BEEN DOING IT SINCE MAY 2008.. AND UP UNTIL NOW.. IT HAS BEEN THE GREATEST EXPERIENCES OF MY LIFE.
IM 19 YEARS OLD AND EARNING $5-8,000 MONTHLY.. I HAVE A BIGG TEAM AND I CARE A LOT FOR THEM.. I TEACH THEM ALL I KNOW AND THATS WHAT PRIMERICA IS.
THIS BUSINESS IS SCARY AT FIRST BECAUSE ITS SOMETHING NEW! BUT DO YOURSELF A FAVOR GUYS AND TRY IT.. YOU WONT LOSE ANYTHING.
CITICORP TRUST BANK IS THE BANK THAT SPONSORS YOU TO GET ALL THE LISENCES.
COME ON PEOPLE.. IF YOU WERE TO GET A REAL STATE LISENCE.. IT WILL COST YOU A LOT... FOR THE LESSONS AND THE TESTS.. AND YOU WONT EVEN GET TRAINED.
ALSO.. IF YOU WERE TO GET YOUR INVESTMENT LISENCE BY YOURSELF.. [LETS SAY YOU WORK IN A BANK] YOU'LD HAVE TO GET THE BANK TO SPONSOR YOU.. AND AFTER YOU GET IT YOU HAVE TO MAKE A CERTAIN AMOUNT OF INVESTMENTS OR THEY'LL FIRE YOU. PLUS THAT! YOU DONT GET THE FULL SHARE OF THE INVESTMENT YOU DID, YOU GET PAID THE SAME SALARY.
NOW, ABOUT THE PYRAMID THING.. IT IS NOT A PYRAMID.. LOL.. IN A PYRAMID THE PERSON ON TOP MAKES ALL THE MONEY, CORRECT? AND THE REST DONT! IN PRIMERICA THE PERSON ON TOP HAS TO MAKE YOUU EARN MONEY SO THE COMPANY CAN PAY THEM A BONUS FOR YOUR "SELLS". JUST BONUSES! SO IN THE FIRST 3 - 4 WEEKS.. THE PERSON THAT BROUGHT YOU INTO IT.. HAS TO WORK FOR YOU.. INVESTING HIS/HER TIME, GAS, ETC IN YOU. NOW WHOS WORKING FOR WHO? THEY WORK FOR YOU.. SO YOU CAN LEARN.. SO YOU CAN DEVELOPE YOUR BUSINESS.
ASIDE FROM THAT, THE SERVICES ARE GREAT, NO OTHER COMPANY HAS THEM.
IT IS STATED THAT TERM LIFE INSURANCE IS THE BEST FOR THE FAMILY. SAME GOES FOR THE INVESTMENTS.. LEGAL PROTECTION.. MORTGAGE.. GOOD LOANS.. CAR & HOUSE INSURANCE.. ETC.
SO GUYS.. SCAMS OR NO SCAMS.. PYRAMIDS OR WHATEVER. THE BEST EXPERIENCE IS IF YYOOUU LIVE IT. NOT BY HEARING OR PAYING ATTENTION TO WHAT OTHER PEOPLE SAY.
IF YOU WERE TO GO TO COLLEGE.
WHO WOULD YOU ASK ABOUT COLLEGE,
SOMEONE THAT DROPPED OUT AND THAT PROBABLY HAS A BAD EXPERIENCE OR SOMEONE THAT FINISHED IT?
I WOULD WANNA LISTEN TO THE PERSON THAT IS BETTER THAN ME SO I CAN GET TO WHERE THAT PERSON IS.
NOT A LAZY PERSON.. NOR A PERSON THAT DOESNT LIKE TO WORK.. NOR A PERSON THAT IS BROKE OR HASNT ACCOMPLISH ANYTHING IN LIVE.
READ BOOKS PEOPLE.. BOOKS BY ROBERT KIYOSAKI.. DONALD TRUMP.. ETC.. IM SURE YOU'LL SEE THAT THEY AGREE WITH WHAT PRIMERICA DOES.
BETTER OFFF.. READ "PUSHING UP PEOPLE" ITS A BOOK WRITTEN BY ART WILLIAMS.. THE PERSON THAT CREATED PRIMERICA. THERE YOU'LL SEE WHY AND HOW HE STARTED IT.
STOP LIVING BY THE SYSTEM AND DO SOMETHING THAT THE REST OF THE PEOPLE DONT DO.
ONLY 1% OF THE PEOPLE MAKE 96% OF ALL THE WEALTH.
I KNOW I WANNA BE IN THE 1%, WHO ELSE?
GO TO PRIMERICA.COM
CITI.COM
ETC..
=]
HAVE A NICE DAY AND HOPE I HELPED =]
Hello Guys/Girls,
I got a call the other day from a Primerica representative. I have read this blog. I'm going into my last semester of college and know that I can do better than a commission based salary. There are multiple blogs about this thing being a scam. THat is a harsh word so I will not use it or assume it to be true. THIS IS WHAT WE ARE GOING TO DO...vote...I will go to the "interview/business overview" if a majority of ppl tell me to, and I will say "sorry can't make it tomorrow" if you guys tell me not to go...
SO HERE WE GO...
Vote: Yes or No
Same deal someone contacted me for a fake job interview. Ask yourself one question, what legit company has to lie to people so they can make money???? HUH??? Stop selling my your BS!!! I already contacted the better business bureau, the federal trade commission and the atlanta journal constitution, I sent an emial to all my friends who are looking for jobs to watch out for your company! I"M BLOWING YOU IN!!!!!
too much with PFS supporters, seriously, you went to the seminars, you "heard" from people blabbing how much they much, seriously, think! People can just say anything, they dont actually show you the money, do they? So I might well just tell you that I make 15k a month whereas I have 15bucks in my bank account. Believe in whatever people tell you, if it's not brainwashed, I dont know what is.
Just back from the "interview", nice, what a waste of time, 4 freaking hours. Then I asked around, all of my friends "command" me to stay away from Primerica. At the interview, the trick they used to dillute me is make me think I'm in control, in fact, they are manipulating my thought (and yours too, if you're with the company)
I'm reading half-way, and if u did the same, you must notice some of the Primerica disciples' way of talking on here are pretty much uneducated. So let me ask you, would you like to be associated with them? Would you like to work with them? Would you like someone like that "consell" for your finance?
in this economy, a student spends 4 years for a university degree even has a tough time looking for employment, whereas so-called "termites" are "trained" for 4 weekends, and not even "trained" by qualified trainers, just some motivational seminars. If you have been paying attention, giving business seminars is actually a business itself. They lend the reason of "passing on the business secret", get real, anyone attending those seminars really successfully applies those "knowledge"
Finance sector is no joke, so if you think you can do it with just 4 weekends of training and you have no business background, you're just lying to yrself. And if you're a "client", if you're that good of a "samaritan" to allow a waiter at the restaurant "trained" for 4 weekends to "counsel" you on finance, well then I'd like to do business with you, sell you all kinds of thing because I know you'll buy it no matter what it is.
In my whole life, I've been through these kinds of company for tons of time, from education products, health products, kitchen products, and now is this Primerica.
if you really have the talent and energy to join Primerica, you might well want to start your own business. No, I mean your real business, not "Primerica business".
Primerica's decisples might be honest and truthful people, thing is they didnt put their trust the right place. They think they are helping families out of financial mess. Well, that's just what they "think". Financial problems wont surface over night, it takes time to be realized, and by that time, where the hell is the person to blame? lol
For real, looking for financial advice from professionals. Yes, the banking system may be not prefect, but the root is consumerism gets us all in loan and debt, we have ourselves to blame. But the banking system does create value although there're some downsides of it (and for this matter, u really have to do your own research), on the other hand, Primerica creates no value but a bunch of people with no skills, no profession, who can do nothing good but deceiving others. Yes u can get rich without going to college and having a profession, open your own business. But PFS just manipulates your mind, makes u think u're the boss while you're obviously not. You're just their puppet and the blood-bag for them to suck off. Enough is enough. I dont know why the government hasnt struck down this kind of business yet
This blog helped me make my decision!!!! I too have an interview today actually from 11:00-12:15pm, or a "Briefing" as he would call it. I had the same thing happen to me. Except the guy who received my resume, really did, through my church. Anyway, when I conversed with the recruiter, he told me that there were tiers that you had to go throught to make the bigbucks and he said that on top would be the Vice president level. But he just seemed so overly enthusiastic about everything. He also said that when I do come to the briefing that I should bring a couple of people with me.....WHAT???? So anyway he proceeded to tell me what each person does in the levels and then he says that you dont sell to people you just talk to them about financial indepence......O...Kaaaay
He said that I would go to peoples homes and just sit and talk with them....riiiiight. So with that being said. I will take what you said at the end of your blo about how you did the research on the company and stuff, yea...couldnt have said it better myself!!! THANX!!!!!!!!!!
reply to the comment right above:
at least he was "honest" and gave you some minimum amount of information. I have to sit through few hours and they didnt even have the gut to tell that we'd have to go do the sales job at people's houses. They did try their best to make you think you would do some kind of good deeds to society without any favour return, while in fact you'd have to go sale over-priced services. Commission is a beauty of business sector, but they turn it into something so dirty and disgusting, like leeches, on top of that, they will never admit they do such thing.
My wife got a call (this weekend 1/10/09) from Primerica to set up a "job" interview. The woman who called her was polite and enthusiastic, saying that she found my wife's resume on an internet jobs site. My wife asked her if this "job" involved selling because my wife is an administrator who does not want a slaes job. The answer was clear..."There is no selling involved in this job. You would simply become a Primerica Representative, a subsidiary of Citigroup."
I AM a salesman. I have owned an insurance brokerage company for over 30 years and I make very good money in insurance and investments. I couldn't remember why, but something about the name Primerica had left a bad taste in my mouth in the past. When I did an internet search, there it was! Primerica, the same predatory group of incompetent, part-time agents that first emerged back in the late 70's...and still engaged in the same disreputable bahavior.
I showed my wife this blog and she is going to cancel her appointment in the morning. The "recruiter" lied...plain and simple...and consistent with the classic recruiting spiels of Amway and other Multi-Level Marketing scams. Why scam? Because companies like this prey on the hopes of thousands of innocent victims to generate a very small number of "successes". Yes, a few slick-tongued devils manage to make a lot of money, but they do so in the wake of thousands of disappointed and financially broken corpses.
Primerica and MLM companies like them should be put out of business by government. While they might escape the label of pyramid schemes, they only barely avoid being illegal.
PS...I have been a long time supporter of the "buy term and invest the difference" life insurance philosophy. I have no problem with that. My problem is with deceptive recruiting processes that suck in so many gullible and desperate people while producing a few get-rich-quick successes.
thanks to everyone for posting! this is really helpful. last week, i received a call from american income life. this week it's primerica. i can see how people can fall for this, especially those really needing a job like i do. i thought it'd be a great opportunity. but knowing what i now know about these company's practices, it is best to avoid them! i wonder which company like this will call next?
There is a New York Times best selling author out there, who's been on Opra twice.
Some of his books are , Automatic Millionaire, Smart Couples finish Rich, & my favorite, Start Late Finish Rich, where he makes reference to about what this great company does thru its sister company Citi group on page 222, Tip #1 only get into a business your passionate about.
You can either choose to believe or dis-believe the bloggers on this website, however; while you align yourself with the wrong mindsets, you are who you hang out with, like attracts like.
When great people like David Bach supporting PFS;
WHY ON EARTH WOULD I LISTEN TO THE ONES WHO SPEAK ILL OF PFS????
Being a winner takes guts, balls, a no fear attitude to step out on your own, think and go big.
If you decide to move forward with PFS, as i have done happily, than realize that EVERYONE else around you will do everything in there power to keep you where you are, AT THEIR LEVEL, because they see the dream in your eye, they see you want more, and so your so called friends are forced to re-evalute where they are in life and conclude that rather than join you, they just try to keep ypu where your currently.
Go Big, think Big, Go for it.
PFS is the best Opportunity of your lifetime. Take a leap of faith, read the books, self improve and leave them all behind....
see you at the Top
I just want to say that you’re really an idiot to comment on something you have little to no real information on Primerica as a company. But you don’t qualify because your looking to work for someone for the rest of your live and Primerica is offering a opportunity to start your own business and branch of into any think you want, being able to manage your own finances. But I digress. To the people that are looking at this to find out the truth about primerica experience something for yourself before you take someone else’s advice especially on the web. Because the Internet is full with idiots that comment on what they don’t understand because of pure ignorance, for example google God and you will find thousand of comment that combat whatever your actually believes are.
Primerica is real and valid. The probelm like others have said that is is commissioned based and the person who brings you in does get a piece of your pie (commission). You need help to do a certain # of transactions and they use that as an opportunity for the person who brought you in to earn the $$.
I signed up to be their agent. I never earned a dime eventhough I helped my coworker refinanced cause I was still under training - kind of crappy. Then I quit - it is just very difficult. I did buy their life insurance though.
Here you have it, comments by rippoff report.com CEO about Primerica.
http://www.ripoffreport.com/reports/0/229/RipOff0229393.htm
Read its investigating one year report
P.S.
For all the people on here that say they never earned a dime, made no money.....are either lazy and did not work, could not get out of their comfort zone OR are competitors PISSED OFF because PFS did the right thing, educated their former client, and brought them to Primerica as a client...which is usually what happens.
What the hell is wrong with a pyramid or MLM.
if you really really look at where you work and what you do, to some degree its also a pyramid MLM concept.
example
Mostly everything today your either buying OR selling some sort of service, or item, or concept.
If you are the provider, you make a hourly rate, true or false.
You provide this service to your customer as an hourly and a sell is made, a piece of that is what pays you, true or false
Your an hourly and have a manager, which he or she makes more money than you do, and that same sale pays your manager a little bit more, true or false
than of course that manager answers to either a higher manager or maybe the owner which also make even more from the original sale from the hourly, true or false
sounds like a pyramid to me.
if I went to starbux and buy a $4.00 latte, that hourly barista benifits from the sale,
That Starbux store has Shift leaders that make more than the hourlys.
That same store has a manager and I promise you he makes more. He trains his baristas to upsell, merchandise, whole beans and up the ticket price to grow the stores bottom line and ultimatley, Starbucks corporation takes it percentage cut which is more than then the entire salaries paid to the whole store....
Sounds like a pyramid to me and all from a $4.00 latte.
Its called passive income, being a employer, nothing illegal about that.
Just like the Broker Agent system in Real estate
Primerica took that as one of the concepts to be paid, to allow you to get as an agent one of the multiple streams of income.
These PFS agents get paid multiple ways.
How many ways to you get paid?
Your "one way to get paid" check stays the same.
PFS agents do not, it gets bigger and bigGER and BIGGER.
I didnt even know what the company was but some people we knew came and pitched it. I dont feel they were 100% honest about the business model. I dont think they are horrible, but if I'm going to make 5-800 bucks a month extra, I guess it'll be for really working. I'll stick to odd jobs and fixing cars. Oh and my full time engineering job.
I work for Primerica.... People think its a Scam because they can't make any money cause they are to damn lazy. Wake up and smell the coffee. If you work, your going to make money. BTW if you think its a scam... Keep working your damn 9-5 job and have no damn life.
Now the up front fees? Why should the Company pay for everything if your just going to quit and cost them money?
Atleast our Company helps people unlike other companys
scam or not a scam... I dont know. but i am going to investigate it diligently not just take someones word for it. One thing i do know thanks to financial author Robert Kiyosaki, 95% of the world is working for 5% of the money and 5% of the people are earning 95% of the money. I want to be apart of the later and the way to do that is not a standard 9 to 5. I need to figure a way to have my money and talents work FOR me. primerica sounds logical
I don't know what half of these people talk about, cause me as a person who is halfway towards getting liscensed to be a primerica agent, the whole scam issue is kinda funny.
anyway, listen, any of you are familiar with Mary Kay Company and the Mary Kay consultants. There is an entrance fee, than they supply you with the cosmetic products, than you sell them to the best of your ability. Primerica is no different. The difference is that maybe your local recruit or RVP is going about recruiting you the wrong way. You don't promise people a 6 figure income cause its a very small percentage of people who actually get to that point.
I was reading the comment of the guy that said that his mom was in it and end up being in debt cause of the base shops and seminars shes been going to. When you get recruited, there should be a local office that you go to training for for free. Seminars and base shops are seldom something you do. I think my office goes to one every 2 or 3 months.99 dollars is the entrance fee, which is less than mortgage, less than mary kay, less than most lisceneses you get. You pay for the state test yourself, but as soon as you pass the test ,they reinburse you the amount. You pay to take classes for your mortgage liscense, primerica pays for you.
Anyway, its not for everyone, i don't even know if it will be successful for me. But it is based on your own effort, your skills, and your work ethic. Some people are 9 to 5 people and couldnt do commission based sales jobs. Those are the people who seem to be bagging on it. But people are successful in it. My RVP has been in the company for about 6 or 7 years and he makes 100 K per year. This is not something he just said, he actually went into his online bank account and showed it to us. So yeah its no scam. Its not for the average person but its no scam
to the dude talked about New York Times above and the other dude just right below that comment: either you are too idiotic to realize the real truth, or you are too vicious to hide the truth. Yes, people working with Primerica did get rich, but in a manner like a mosquito - sucking blood the hell out of others, feed themselves on others' lives, get it?
to the one whose comment starts "Primerica is real and valid. ...", and u end up buying their insurance right? haha, that's how they make money, dude! For crying out loud, wake up. My friend used to "work" for PFS too and ended up buying insurance too, doink!
to the one bs-ing about MLM and starbux and sh**: go back to class, get a real degree, not "Primerica degree"
to the one reading Robert Kiyosaki: lol, I was you 4 years ago, son. But the fact that you're wasting your time on here (like I do too), rest your assure u'll be even much worse than a 9-5er, honey. Primerica sound logical? Oh boy, another one in denial!
to the one just right above this comment: sure thing that the guy u call RVP has lots of money in his bank account, but wht makes u sure that money is from working at PFS? Even so, when someone gets to that level in PFS< making 6 figures is nothing strange, that is money from people who fall for the scam, who pay to "get trained and licensed" and ended up buying their insurance so that the RVP dude gets the commission. There's no way u earn money from PFS< u'll just feed their bank with your hard-earned monay, lol
therealstory of Primerica on New York Times
http://query.nytimes.com/gst/fullpage.html?res=9E0CEFDD1530F932A35756C0A962958260&sec=&spon=&pagewanted=1
P.F.S.(Pretty F...ing Stupid)Only 5 percent will ever make Regional Vice President. You will go into debt, 95 percent of the time. Your odds are the same if you played scrath-off lottery for a living or even (part-time). You get suckered in by a few little wins at first, then you start losing. They say you can't win if you don't play. What I say is that if you bought the same amount of scrath-offs with the same amount of Primerica's start-up fees(around $300.00), you would likely win more money at the lottery than you would ever earn back (after charge backs) at Primerica.
Thank you for your informative postings. I just got the call yesterday and was completely underwhelmed, as I have heard of these types of "opportunities" before, and even had a relative who got taken in by them some years ago. Keep the information flowing! You will save a lot of people a lot of aggravation and disappointment.
Just to let you all know, I don't work for Primerica. I do know people who have been with the company and make their living. After reading X amount of blogs, I have come to a conclusion and based on my understanding more than 95% of you (bloggers) either don't know what you are talking about OR don't know how many companies that deal with finance operate. Just so that you are aware, if you are currently working for a company either as an employee, supervisor, or manager; you are working for someone else. The big boss at the top of the chain is making money based on what you sell and based on the profit of the company. So basically, if Primerica is a pyramid scheme, every other retail or company out there, is also a pyramid scheme. For those of you who aren't sure if Primerica is the right opportunity for you, don't go by what others tell you. I am almost sure that mostly everything that you do in life, you don't do because others tell you but because it is something that you choose to do. Same thing with any other company, not just Primerica. Give it a try and if you see that the business isn't for you, then by all means leave it alone. Unless they make you sign a contract where you must remain in the company for X amount of years, so you shouldn't have a problem by telling them that the opportunity isn't for you.
I hope that this will help you make a decision based on what you want in life and not based on what others tell you or lead you to.
I love reading comments from people saying that Primerica is a scam and a pyramid scheme. I sat down with one of those "Scam Artists" in 1985 and was one of those "idiots" that joined Primerica. I was involved on a part time basis for nineteen years, having left the company in 2004. I made what most people would consider excellent income to supplement my full time job. What I learned while I was there enabled me to retire at 55 with close to a million and a half dollars in assets and no debt.
Criticize the company all you want, but it worked for me and I wouldn't hesitate recommending anyone becoming one of those "idiots" if they ever wish to learn how to set themselves up for an early and VERY comfortable retirement.
All I can say is, Primerica disciples sound like creepy cult members and that's enough to make me run the other way - particularly the snotty view of "employees" as being mentally inferior and subhuman. It's GroupThink.
Anonymous
As I said in my Post, I was able to retire early and with no financial worries thanks to Primerica. Their agent sat down with me when agents from other financial institutions wouldn't even give me the time of day because I didn't have the assets to make it worth-while for the agents of those other financial institutions to sit down with me. That's another reason I became involved with Primerica on a part time basis. They help people that need help the most. People that other institutions want nothing to do with.
Call them a cult, scam, or whatever you want, but they helped set me up for a happy, worry free retirement. If I didn't get introduced to that Primerica agent, I'd still be working, and, in all probability, be in nowhere near the sound financial shape I am right now.
BTW. The income I made with Primerica on a part time basis is, in all probability, more that the full time income of many of the people that criticize the company.
The bottom line is YOU chose what you want to do with your career. We are all different. Some chose the MLM others chose to work in Corporate America (the cubicles!). Unless, you actually OWN the company you work for and YOU actually write your own check then your working for someone or an actual entity. In an MLM (or whatever you chose to call it) someone at a higher level is profiting from your efforts therefore you are not completely independent. Sure, your work efforts impact your paycheck, bottom line is you still need to WORK to eat just like the one who opts to do the 9-5 PM. Don't fool yourself, nothing in this life is certain.
I just had my first encounter with one of their Agents. I listened, it's not for me. I can respect their decision to make this type of living and find they need to respect mine as well.
I do recommend you closely review any proposals you are provided regarding loans,insurance, etc. and DO NOT ALLOW yourself to make haste decisions to satisfy the Agent or the "family friend" . These are life impacting decisions. Get a second opinion from your existing insurance company and talk to your bank. If you can make them compete!
OFCOURSE it's a SCAM. All they do is take up your precious time (especially when they visit you at home). Just after 2 visits, they encourage you to start working for them. I became suspicious when I contacted insurance companies they recommended only to be told that they don't insure business vehicles (that was after I was told by the person on the other end to enter the code). If they were indeed out to help others why are they so picky about what insurance you need to buy. I want nothing more to do with them. After more research, I found that my insurance costs less than theirs.
Scam-THINK ABOUT IT. Normal businesses pay you while you're training, they pay for your security checks and whatever courses you need. These Primerica people make me very ill because they prey on those who are desperate for employment and can ill afford to waste their time on this CRAPOLA.
I'm glad they didnt have the internet when I joined Primerica. If I had listened to all those ignorent idiots that say Primerica is a scam, I still would be working instead of enjoying an early retirement.
Primerica is in a licensed industry and you have to be licensed before you can make money. If you ask the people that post negatively about the company if they got licensed or even went to the State required class to get their licenses, they'll all say no, yet they won't hesitate bashing the company. Most of these people that are destined to work at menial jobs for average of below average wages the rest of their lives. They're the losers of the world that lack ambition want to bring you down to their level poverty. The rest are Primerica's competition that want to take your business and steer it to their company.
I just got back from what I thought was going to be a legitimate job interview. However, for more than an hour I sat and listened to a sales pitch. I seemed they were trying to sell me a car, not interview me for a job. They didn't even look at my resume, but seemed awfully interested in personal references rather than professional references. I don't believe they ever lied to me, but only told me a very small truth. I say, "stay away."
Why didn I jump on board with Primerica?
HOnestly the presenters seemed respectable and truthworthy to my, and they have excellent presentation skills (maybe thanks to all those years working there). But thing is:
- I feel misled coz they made me believe that was an interview, whereas it was obviously an info session and everyone were welcome to join
- They conducted in a fishy manner. The man talked blah blah blah and gave me the "application" and said that the company "sponsor" me to train and get licensed. (because I told him I'm a student with huge student loan over the head)
- The Agreement section in the application may take 1-2 hours to read but they want you to sign it on the spot. There's no way I sign any damn thing without reading it.
- Why do they event ask for your banking information and pay upfront? Nuh uh, no good.
- According to business law, you will become "independent agent" for Primerica. I can spend whole day to talk about independent agent vs employee, but well, find out for yourself :)
Bottom lines, no-go
Job Description vs. Independent Contractor
Employee vs. Ownership with Freedom and Responsibility, the Choice is Yours!
The only way to get a corporate job at Primerica is for residents who live in Georgia or near Duluth, GA. They help run the company and process tens of thousands of paperwork each business day. The office is approximately million square feet and it consists of at least 4 large buildings. There are about 1800 employees working at the home office. Or, you are a salaried employee of an RVP that is classified as an Office Administrative Person who runs the Virtual Base Shop and processes all business from the RVP to Duluth, GA. Even that Administrative person has to be licensed in the areas the RVP does business in or refer all communications for that product, i.e. securities to a registered rep.
On the business side, this opportunity is open to everyone, the resume’ is really not important; because, no one can open the heart of a “Champion” and see what is inside. You, as a part-timer, get to help families with their finances and you have a great support system to back you up. If a family wishes to get out of debt sooner, you have the support system of Citicorp Trust Bank to help you figure out what to do (but you need a mortgage certified and in some states a license or registration is required). If the family understands the difference between whole life vs. term insurance, 9 out of 10 families will get term insurance and replace their whole life (but you need a life license to do that). If a family wishes to rollover some investments or CD, or wish to start a long term investment with automatic contribution monthly, you can do that too (but you need to get securities registration with FINRA to do that).
If client does business with you, you get paid commissions. How much of commissions depend on your management or leadership level. To get your promotion to the next level, you need to recruit three new people and train them to District Level. Why recruit? That is the way you grow any business. Ask a Wal-Mart store manager how many people they recruit/hire each month and why? For some real scary numbers ask a Taco Bell manager how many people the recruit/hire a month as an employee. There are two reasons why Primerica focus is on recruiting: 1) To help more families develop a financial plan, because the “Financial Planners” are all chasing the “Big Fish”. Many large brokerage houses will not talk to anyone who has less than $100,000 to invest – and some you must have $250,000 to invest (www.investmentnews.com , Feb 27, 2006). Only by recruiting new people can you build a TEAM of like minded individuals that have the same abilities, moral character as you do so that you have the Opportunity to open your own business and run your own office. Is that guaranteed? If you meet the office and company guidelines, published on www.PrimericaOnline.com and the RVP Virtual Base Shop, you WILL get PROMOTED! 2) If your recruit helps a family, not only do they get paid full commissions on their work, but you earn a management override. An override is the difference between one sales/management level and the sales/management level of the TEAM above them. In many cases there are 3-6 base shop people that have a financial interest in the new Associate to succeed and do well! Primerica is the only financial service company that has a system like this because Primerica is a built where the “Salesperson is King”. Why? Because, the employees in Duluth depend on you as a Sales Manager to grow a productive sales force or those “Employees in Duluth” would not have a “JOB.” They would become part of the layoffs Citi is experiencing today. The “Employees in Duluth” should get down on their knees and thank God that the PRIMERICA Financial Services (PFS), because it is one, if not the only company that paid out about $750,000,000 million dollars to the “Sales Force” and sent profits of about $550,000,000 to Citigroup or Citi, whatever they want to call themselves. That was in 2008 - when most banks, insurance and financial companies lost Millions and Billions, including our parent company Citi.
You see, PFS is owned by Citi, but is run by Primerica out of Duluth, GA and co-CEO’s John Addison and Rick Williams since 1999. We know and understand that we are a marketing force and in order to grow you must bring in new people while other people leaving the company – retiring, moving on, not trying or selling their code number at 7 to 8 times annual earnings. Other financial companies keep the profit to themselves, average sales force is over 50, and they don't let people recruit other people. This causes people to reach that glass ceiling, at the top of their position and waiting for the person above them in the “Corporate Pyramid”, to retire, get promoted or die before they can be promoted, called the "Company Wall".
Primerica feels the “Corporate Ladder” or “Organizational Chart” is the “Pyramid”. To Primerica - this represents reality. As you can see, there's no no real opportunity for the average employee to become the CEO of the company. If you have ten people on your team, then there's the chance that your team is helping ten different families a day. If you were the financial guy at some other company, you have to constantly find new clients by yourself. A salesman is unemployed everyday, unless he has someone to go talk to and give his Presentation. A builder in PFS, who has 100 codes in his or her Base Shop, knows that with any company, non-profit organization, civic group, etc. – only 20% of the people do 80% of the work. And guess who makes the most money – the person who sees 4 people a week and develops 2 average clients or a LEADER who runs his or her business and motivates a TEAM of 100 or more at all levels. Suspose for example, that RVP office developed 30 - 50 new clients a month out of 100 new FNAs (Financial Needs Analysis, how much would they be paid? That leader would have approximately $50,000 to 100,000 a month (Company Averages) to be paid to his or her TEAM – and never personally cut a single check, and be advanced 75% of all Annual Life Premium as an interest free loan, to build their business. Of course that RVP would pay all expenses to run their office and be eligible for up to 42% Bonuses and incentives that are directly deposited into their business accounts, stock options, investment and money market accounts they help manage!
The RVP is in control of their business and financial future, and they alone can determine how big they want to be - Mom & Pop grocery store to a National Franchise. So the question is – do you want a business that you can control and build that will generate a income to you income on every product that is sold in the Primerica System as a “PACKAGE” via one vehicle, the FNA, or would you want to go out and be an independent, put your own deal together, have half the people you recruit working for other companies who you do not override, always losing people because there is a better product next door, and alwats creating your own competition – just like the “Real Estate Business”. Realtors are always training there competition and when they leave they usually take 2 or 3 Realtors with them to start their own Brokerage. Then they open up their office right down the street and compete for the same business with you! Primerica want you to open your own office a an RVP and will HELP you build your business! I know in the Madison-Jackson Mississippi area where I live – about 5-8 Offices in 1950 created and trained over 200 offices in this area. What if those same 5-8 offices had a system like Primerica? Would the real estate business be in the shape it is today?
For more information about Primerica check out my blog (http://efusjonenergyclub.blogspot.com/2009/01/credit-counseling-scam-primerica-is.html) and Wikipedia for 3rd party factural information with tons of links (http://en.wikipedia.org/wiki/Primerica_Financial_Services), and save time, energy and up-to-date on PRIMERICA .
Primerica is a company with great history ofcourse Primerica is not for everybody . Check BBB.org and Primerica is rated A+ which must company that are in the same field are under rate.
One word describes any organization who asks for money instead of offers you a job...S-C-A-M. A real JOB offers you a J-O-B and P-A-Y. The lunatics who buy into this scam need a mental exam and a 12 step recovery program to escape. No easy way to make a living or get rich quick other than a real legitimate J-O-B. Any quack who tells you different is peddling, pushing or shoving garbage down your throat. BBB states you should never have to pay to have a job.
EVERYONE I have ever met belonging to any form of an "MLM" always pulls the cliche of "this is not an MLM", or "you don't understand free enterprise" etc. etc.
The fact is, are you interviewing someone for a job where they assume there is a boss and a benefit plan to enroll in, and so on?
This is just bringing a sucker into a business atmosphere rather than having someone dooped into coming to your home with loud music, chairs and some dude in a suit telling you how to be finicially free AFTER you pound down a bunch of coin for seminars and rallies.
No thanks.
it is sad to see how ignorant people will follow what the crowd says. The truth is that most people are satisfied living a mediocre life with a mediocre income. It is important to know that Primerica is not for everyone. Not any person is able to distinguish opportunity.
As for the "pyramid scheme", all your silly corporate jobs work the same way. Big guys on top make all the money while you all "employees" put all the effort. You will never make it to the top. Ever. And to make it even better, you begg these employers to recruit you, by "applying" for a job.
Any peroson with real intent and a notion of what they are worth would realize such truths.
I keep seeing people claiming that any company with employers and employees is a pyramid or an MLM.
No company I've ever worked for has required (or even allowed) the "bottom" people to recruit others to work under them!
Just because something has levels doesn't make it an MLM. Sheesh, under your reasoning, a layer cake would be an MLM.
Secondly -- If the pro-Primerica people on here are trying to sell people on EVER using their products, why are they being so insulting? It is so unprofessional, it's hilarious.
Thirdly -- why are all the pro-Primerica folks assuming that everyone (except them) is a cubicle drone? Many of us DO own our businesses, thank you very much.
Fourthly -- I can't stand it when someone trades on our friendship to try to sell me something. I think it's pretty rude. If I'm your friend, then I probably already know what you do for a living. If you sell something and I'm in need of it, you'll probably be one of the first people I'd go to. But don't call me and give me your spiel. It puts me on the spot and puts discomfort into the friendship.
The company is desperate for new idiots, sheeps, to exploit sexually. I was at a group meeting last week and they actually had plants in the group. A plant is a person planted there by the company and it was people who seemed disinterested at first...i.e. they were texting and basically ignoring the guy talking. Then all of a sudden they start writing like they are super interested. Highly obvious. Pathetic, even.
Primerica the company is not a scam. The insurance side is A+ rated. What sounds like a scam is the employment system. It really is a case of the smart guy taking advantage of not so smart. Fortunately for business people, mental midgets out number smart people by a lot. This company is probably going to do even better now with the higher unemployment as people get desperate for jobs.
When they recruit people they know that most people will not work out but in the mean time there is an opportunity of getting warm leads from that person. They soak that person out of their close contacts and then if they don't cut it then good bye. If the person they get is smart and leadership material, then they will follow the system put in front of them and be able to be successful. It like anything business, I could brainwash you into thinking that we could start a online search company very easily and give you examples of the few that have become billionaires. Does that mean you will ever get of the ground?
The danger is for the consumer that has this hyped up moron trying to give them financial advice. There are people who are natural salesmen, even if they have no clue what their talking about. They know enough to be a danger to the consumer. That is the huge problem I see with this model. In many ways it is a predatory company that hides behind some very good products.
To all of you that have read this and now you are getting to my post, please listen carefully, not all of Primerica reps recuit like this. This individual I feel stepped out of bounds on what PFS allows, and what is proper. But most of all, Primerica is not an MLM. The reps must hold actual liscense that are regulated by the State, the Feds and the SEC. The companies that you you call MLM do not need this. The are not regulated at all. Primerica was started to correct an injustice in the Life ins world. And provide a great part time opportunity for people, and av even better opportunity when they were ready to go fulltime. Primerica is sort of structured like a realstate office is, and you all are not calling them MLM's. The owner of the office for the realator do get a commission off of agents sales that work under them. Now, what is a pyramid. At the top you have the CEO, with one or two Presidents under him, and a bunch of VP's under that, and so on spreading out like a Pyrimid. All companies have the right to recruit and grow. Do not let this guys bad experience persuade you on anything. The "recruiter" just really di not know what he was doing, and should not have talked about opening several offices and offering him a managers position, since you must work your way up through promotions and building your owne business, adn when you get that office, it is actually yours, not theirs.
But over all, please contact a Rep from the company and talk to them, and bring your concerns to the table. Just like any other company, this business is not for everyone, the company allows you to come on board to try it and see if it is something you like. If not, while there you learned a lot about finances, and you are ahead of the finance game then most.
And yes, Primerica has fantastic and services.
PS....I forgot to say...for those of you that have another business and are successful at it, then I salute you, and say congratulations. I read a few of the blogs on here, and there seems to be a case of people going to bad offices. Let me ask you something, if you go into McDonalds, and have a bad hamburger, do you then hold all locations responsible and in the same light? NO, of course not. So, with Primerica there are the unfortunate bad apples that give the rest a bad name. But, there are so many more offices that do great things, and hold high morals and ethics as SOP. And as far as the guys comments about plants in the office during the opportunity meeting, yes reps are there, but they are there to be with guests that they have invited, and to help answer questions afterwards. But the texting part is rude, and should not be done at all.
i really am interested in working with Primerica. I really like the business and have my license. They paid for my license. I think it is awesome.
Oh for those Primericans that are thinking of quiting, um my say to you is just stay for a while since Primerica is going in public!! They're doing a Initial Public offering!!
For those people that are successful congrats!! For those people think that it's a scam, Oh poor you, you don't know what ur missing.
Well, I'm glad I found this blog (on Wed Feb 4 2009). I am looking for work and of course posted my resume on several job sites. I got a call today from a Rhonda Kaplan at Primerica (I am in NYC - they left a Long Island area code). I am going to be highly suspicious of this call. Their website almost sounds too good to be true.
Karen (mskjme@aol.com)
Let me begin by saying that I AM NOT a rep... I have some friends that are, & YES- one of them makes close to $500,000.00 a year- but he didn't start there. I can tell you that what all of my friends make with this business is on par w/ how hard they work/ don't work.
I was just doing some general research of my own- not to see if they are a fraud, but to see if it's the business for me- & I found this blog- & I felt the need to point out one grevious error in many of the comments I have read... I'm believe that the prices probably vary from state to state/ prov. to prov. but I know here in Ontario it is only a little over $100.00 to get your license... Which to start a career is fairly inexpensive... For those stating that it must be a "scam" because you have to pay up front- go try to get your real estate license or your insurance lisence or for that matter, your electricians ticket, etc etc etc & see what it costs you. What you are paying for is for your lisence & training to get such- this is called SECONDARY EDUCATION- not a scam.
And as in all sales based businesses, yes there are some slime balls- so yes- there are people out there who use less then honorable recruting techniques... but please don't judge this whole business based on them. You may be better off to search out someone who is not "cold calling" you & ask them about the business then to listen to these people pulling your resume offline.
I am (was) a Regional Vice President with Primerica. I had to leave due to the fact that they preach buy term (theirs is the most expensive in the industry by the way) and invest the rest. Well the way the system is set up no one invests the rest. And if buy term is a good idea why not buy the cheapest (yet Aplus rated company) term out there. There is NO COMPANY with term at the prices Primerica charges - they need to charge the 50 percent more for their insurance because of the Pyramid set up they have. All in all the comapny is a huge ripoff!
I'd just like to add something else. I have just returned from my first Primerica Fast Training meeting. There are several issues mentioned here, that I don't think others are aware of.
Yes, I had to pay $99 up front, but that is it. Yes, I have to pay for my own communication tools. But that is it. The rest is up to me. Primerica pays for my licensing and training. Their people invest their time and energy in helping me to get started.
I too was struggling with the pyramid angle, but in a real pyramid scam - the bottom drops out. There is a point where the man at the bottom has no one beneath to sell to...
The reason Primerica is recruiting - is because they NEED good people. From some of the things others have talked about, the way people tried to recruit you is completely against the ethical standards of the company. I would not complain to the office you went to, I would suggest you write a letter to Primerica's home office and complain. Give them names, dates, and places - I do not believe Primerica wants people recruited in by mass marketing. That is not what I have seen.
What no one has mentioned is the product. The product is geared toward middle class Americans. The idea is that if you are a successful recruiter, you provide families with a financial assessment to help them decide what to do with their money. Obviously Primerica is one option of many for the family to go with. From my perspective, if they could get a better package from the one I am selling, I would encourage them to do it.
But this is going to differ from person to person, State to State, and situation to situation. Sooner or later, if I work hard, and am honest, I will be able to find people who need what I have to give.
I'm willing to give it a try. If I do this right, I've helped others, and helped myself at the same time.
I feel that at the most, I may loose $200 if I find this is not the work for me. But I have everything to gain. Also, what would I have done with that $200 otherwise? wasted it on some dumb movies, a few meals at restaraunts.
Like others have said, this is not for everyone. But I have seen that people like the services provided by Primerica.
I just want to stress again, I believe that if you were recruited because of your resume on the Internet - write a letter to the Primerica headquarters with the details facts. I don't believe that those reps were working in the way they have been told to work.
I hope this helps.
Deborah
I had an interview with this company yesterday ( saturday ) && they called my house today ( sunday ) at about seven pm. which i believe is extremely unprofessional. This company supposely makes millions of dollars yet the building i was interviewed in was very crappy. Though i didnt go through with this my two friends did despite me begging them not too. my other friend who previously went long time go, clearly told them she doesnt want to do this job && they told her " we are going to take the money off your card anyway." she cancelled the card && they didnt take any money off. The guy who gave me the interview was very morbid. i know its life insurance but umm i dont need to be reminded im going to die as well as my family && friends over && over again at nine in the morning. The people working there were very friendly & even drove me && my friend home because all public transportation was stopped due to the snow && i had left my car home because i dont like driving in snow, the snow ended up being a lot deeper then expected. I told her to drop me a few blocks from where i live because i didnt want them knowing where i lived. The entire ride home we heard about the company. She even sneaked in the conversation the new BMW she was going to buy because of her new found money from the company which couldnt be possible because she only been working there all of four months. All && all they persuade you from the minute you work in til the minutue your out the door ( if not further then that ) this probably isnt a scam but not a very good idea to join. Like others said it depends on the person, perferably i'd rather have a steady paying job with a yearly salary.
What I find intriguing is this: For every (it seems) 10 bad experiences there may be 1 good (mainly from someone claiming to be a Representative. None of which have left their names and posted anonymously.)
I was approached in a bar from someone I went to high school with. I recently separated from the Air Force and am now working as an electronics technician. I am also enrolled at a university for Economics.
The Priermica Rep's line was I would be a good fit because of what I wanted to do upon graduation. After further research of the company (I first researched the company on a factual basis, formed an opinion, then whatever questions I still had I sought others experiences.) I really don't see how, even to a layman, this would be a "good fit" considering the direction I would take my own company.
I'm not going to the seminar that was set up and I see this as being an opportunity for someone who can't direct themselves. An entrepreneur isn't someone who needs a prop up company to give them direction. So to those who say this an "entrepreneur" company are full of it. Entrepreneurs work for themselves with a a clear self-defined goal, not a mantra given to them by a larger corporation.
Get your head out of your butts and come up with better arguments. I'm out.
Does someone really care for someone that has lost his house or lost a loved one that has been on vacation for 11 months. You have to go to one of thier meetings and listen to the bs that comes out of thier mouthes.After 4 hrs of listening of how much they make and how much you can make and all the vacations they go on you,ll see it,s just a legal pyramid. And at the end of thier 4 hrs of bs not once did they mention what they did.
I can understand most of the peoples postings' on this message boards concerns. It is definitely a shocking thing to be looked up spontaneously by someone who said you were referred when you clearly know you weren't. After having sat with a representative for Primerica for recruitment, all I have to say is that these people are clearly hard working individuals with an entrepreneurial mindset and probably very capable of handling the work tasks at hand.
However, in my younger years, I obliged to a very similar situation of what is considered a "pyramid scheme." From having really analyzed the structure behind Primerica, it does not necessarily fall into that category, yet it is very close. It is not Amway, although it is often times very much based around who you know, who you can get to know, what you are willing to coerce those people into, and to what extent you will go in order to have either a regular clientele or even employees to work for you.
People caught up in Primerica MUST have that whole "business cult" mentality in order to be truly successful. I am by no means calling it that (hence the quotes,) but in order to be inordinately successful in something, aka million dollar incomes etc., you must devote vast amounts of time, energy, and belief. The large group meetings, which I went to and then declined on account of having previously partook in something similar to this (although this is far more legitimate than what my very young and ambitious mind committed to,) are not there to brainwash new or old employees, but rather there to serve as a learning platform for everyone. Those meetings are meant for networking, sharing stories, business tips, strategies, successes and failures. They are held to boost morale and keep the Primerica thought process intact in the individual. This is not brainwashing, but don't get into the organization unless you are willing to think like a financial representative 24/7.
I will comment no further than to say, if you are thinking about this company, don't think of it as a scam or illegitimate business. Think of it as rather a full time investment mentally, physically, and also financially. Unless you are very serious about your commitment and have the drive to really succeed in the face of adversity, then do not attempt to become a representative. However, if you think you are capable of handling all the necessary tasks, then by all means attempt to become financially independent as many of those who worked or work with Primerica are.
if you like primerica then Fuck you
This is a huge scam that for any person who is trying to convince someone of making a thousands of dollars in a week, without experience or any training, is BS. I just listened to a 19 year old male (a rep for Primerica) trying to convince these two individuals of the benefits and money that will flow in if they decide to sign with them, and oh man it was such a hoax!! One man they interviewed is a finance major and needs a job to get through school, (very intelligent and knows his terminology and questions to ask regarding the extent of this business) and the rep couldn't answer without saying "let me get to that" or "our information is stated to be simple for people who know nothing about insurances and what not" after the man being interviewed left, I overheard the rep speaking to some guy who is in "training", saying "I hate smart people, they ask questions about everything, and I hate that, if he doesn't want to do it than that's all that needs to be said, I hate smart people with their smart questions!" It's a joke and to top it off, the 19 year old rep said he made almost $300,000 this past year, and the best way I figured to know if he's telling the truth is by his shoes and his car. His shoes were business attire black shoes and he drove a 97' Honda Accord when it's 2009!!! Someone making 300,000 dollars would be rolling in the dough able to afford a car nicer than the piece of crap he was driving. I'm sorry he's full of crap and so is everyone trying to recruit others, saying they are expanding their offices, businesses and you work for yourself and get as much time as you want with your family making 1,000 dollars a day working 2-3X a day. I had to say this because listening to what I just heard was a complete joke and people need to realized there is no easy way out of things!! You have to work hard so it will pay off later, go to school, get an education, there's so many other opportunities and routes you can take, just save your money and it will all pay off in the end! Trust that information, not Primerica and their falsified representatives!!
I work for Primerica....it's a great company and if you are smart and willing to work hard, you will soon become a regional VP ........haha totally kidding..I had an interview with this scam company yesterday! and I was laughing at the interviewee on multiple occasions. The interviewee was very nice,so when i realized that this was a scam (the moment I walked into the office) i was cordial and talked with him. Which seemed more like me interviewing him. He did practically alllll the talking... trying to sell me on the idea of working for Primerica....and thats what I said "I'm the one being interviewed here, why are you trying to sell me on this financial services bullshit that you do..?? I said why is there nobody at all in the office...? he said oh theyre out in the field blah blah....other red flags: you are an independent contractor meaning you pay all your expenses......there is only one licensed person that works in each division.. so basically they hire people for their connections..then people either decide they want to sell this scam by recruiting more people and scamming them....or they quit, and by the time they quit, theyve already given primerica many connections (or people they know interested in hearing this crap) the interviewee would not stop talking! i interupted him mid sentence saying, thank you for the opportunity, but i'm looking for something real, thanks..
Thank you very much for this post.
I actually have an interview with them tomorrow that I unfortunately can't get out of. It seems like all that is left jobwise are these pyramid schemes where companies don't need to pay you unless you're successful.
*Sigh*
I am doing good with Primerica. I used to work for AllState Insurance and they didn't pay me to recruit people and they didn't pay me to start my own agency where i can be the boss. They didn't pay for my license Primerica did.
It doesn't matter what you think about Primerica, Primerica will continue to grow with or without you. Someday, you will look back and say to yourself, "If I only knew, I would of join." If you see the track record of Primerica, there has never been a down year in Primerica in profits, recruits, and commission payouts from 1977 to 2007.
http://obe231.blogspot.com/2008/06/is-primerica-scam.html
It's a polished-up Amway scheme, specific to selling Financial Services.
If you can fog a mirror, they'll hire you. They will then beat you senseless by making you cold-call your way through hellish amounts of crap leads. You'll get burned out, develop a sleep disorder, get ulcers, your hair will turn grey, your wife will leave you, your kids won't like you, you'll start drinking way too much, and next thing you know you're in lock-up out at the State Prison with a 6'5" 400 lb cell-mate named Fruity who smells bad, and thinks you have a cute smile.
How interesting... I work for a retail giant, helped a customer in my usual friendly, helpful way, and got a call at work the next day with "interest in me". So, out of curiosity and a desire to move into something less "schedulally challenged" (retail sets schedules that make living in a prison look normal), I returned her call. Of course, my research led me here.
Most illuminating. I'm glad I found this, because this is exactly the type of work that I'm not suited for. I love helping people HONESTLY, not trying to separate them from their money.
To the PFS shills: folks, you work for a company that's associated with one of the Big Banking Bunch that led us to this economic mess. And it was driven by SALESPEOPLE who are pushed into making questionable "sales" and "deals" by that commission-only system that only rewards pure sales volume, not sales quality. Even my retail establishment makes that mistake, and pushes us grunts to make sales (even though they told us in the interviews that we wouldn't be required to do ANY selling at all--just helping customers. "Bait and switch", anyone??). So, perhaps some of you actually manage to make a living, but at what cost?? Given your affiliation, I can confidently say that the cost is evident by the financial and mortgage collapse, caused by salespeople like you who pushed people into buying things beyond their means just so you could earn just a few dollars more, at their expense.
So, to the blog originator: thank you for this, I certainly appreciate it.
My long-term boyfriend has recently been sucked into this and is excited for all the opportunities opening up with this company. I, however, remain skeptical. They will "hire" anyone it seems, promising success and eventually millions. Two main problems I find with this company are:
1. The drive behind the business is greed. What honest company uses words such as "money," " millionaire," "thousands your first year," and so on in the papers they give you that supposedly describe the work your doing.
2. Few become successful, while the majority are being screwed over, thinking they will "get rich quick"
The thing that really gets to me is that they will tell you whatever you want to hear do they can make their money. My boyfriend is so thrilled with this opportunity to help people that he is going to drop out of college to "get a gear start on his career." Now that's just plain sad!
It's good to see there are more & more positive things on here from succesfull PFS reps, who in fact are really, truly making money.
To the blogger that actually thinks PFS is part of the mortgage crisis. Citi trust bank will be proud to say they are the ''ONLY'' NON-CONFORMING Mortgage bank out there. We're saving the clients from that crap the other banks put out there.
You could go with other insurance companies, but tell me which one of those big Insurance companies made money this past year.
The ones asking for a government bail out. Oh yea, can't wait to buy a whole life policy from them.
You think PFS is a scam,
I challenge all of you out there who think it is to sit with an agent, allow them to do a FNA on your family, which will give all of you a peak into your future. It'll be scary to see that 95% of you are sailing into a financial nightmare, YOU WONT BE ABLE TO RECOVER FROM!!!!!!!
So I challenge you ALL, sit with one of us, we'll show you your truth in black & white. Tangible numbers given to us by you and the numbers do not lie.
The lie will come from your very own denial of your pathetic idea of how you think money works..
If you have a family, have one done, you can still say is no, but it won't be us you say no too, it will be your families financial future.
But its ok, there will be money still coming in, becuase you'll be bagging groceries well into your retirement to the Families that said yes to a PFS agent.
We'll pray for you.
It's funny how a couple of these comments from people sitting on their high horses regarding bailouts and how PFS isn't the one receiving government money. I happened to see Citigroup is one of the top banks waiting for a handout. So Citigroup and PFS take the little money that people have and still need money from the government. Getting involved with PFS was the worst mistake I did. Luckily climbing up the management ladder with complaint after complaint, I was able to recover all my investment. In the process, they fired the guy that recruited us because he was stealing from the company. They recruit anyone with a pulse and leave millions of families lives in these idiot's hands.
Yes Yes Yes I Joined PRIMERICA.
An X friend whos Brother makes millions from this company ask me to sit in on a meeting. There were 12 people there that Sunday afternoon. I was 1 of 2 recruits.It IS a recruting company. I was asked for money up front. I paid, I even bought life insurance. I was to get acess to internet sight to study for test. Never got acess code. Never got refund. I would not touch this Company. Take it for what you will. Be warned..
"sitting on a high horse" Spoken like a good employee.
Citi and PFS are not the same company. More like a sister company. It's is a relationship.
PFS isn't asking for a bailout.
If you think we are a scam, then sit with an agent and see what we do for families.
Its almost inevitable you'll need what we do.
Once you realize what it is we do for families, including what we can for you, then you'll agree there is a need.
But you wont because you do not want the truth;
because we all know truth hurts.
Theres a difference between ignorant and stupid;
Ignorant is you just didn't know and you'll educated by a PFS agent.
Stupid is you know and dont do anything about it, and if you do sit with an agent and change nothing, then you get whats coming to you.
We give you the right to be stupid.
So go ahead; I CHALLENGE ALL OF YOU.
SIT WITH A PFS AGENT
uhm. the pfs service is not the scam....it's the way they treat their bottom tier employees. the service may be legit, but i don't think thats what people here are complaining about. yeh, maybe sit with an agent if your f*%&%ed financially and need their services thats fine, dont sit with one if your looking to solve your financial prob's with a high paying job...cuz PFS is not a high paying job.... like most peopl you'll end up having more expenses than rev's as an independent contractor. anyways, thats my 2cents
Before you jumped to conclusions, you should have gotten the information yourself. Personally I find the Pyramid argument childish. I am essentially paid for successfully training developing and mentoring my own people. There is nothing wrong with that. Beyond that, what you should really be concerned with isn't the structure of the company it's your ability to make money and change your life. Now let's assume that your assertions were true. Whatever your company or corporation, it is a pyramid structure as well. Let's say I'm a cashier at a grocery store, there is some sort of front end supervisor who supervises me. The next level up would be a store manager, then a regional manager, and then some sort of corporate structure culminating in the CEO. The structure if you map it out is a pyramid. Every person's income is based on the productivity of those beneath them. There is an actual historical basis for this structure. It actually is attributed to the military command structure of the American armies during the American Civil War. When the veterans returned, they formatted the businesses they started on what they knew, that of the Army, with one leader with subordinate leaders under them until they reached the rank and file troops. The difference is that Primerica allows for upward mobility based on productivity. In basic terms it allows privates to become generals based solely on their own accomplishments. I think that's something to get passionate about not to be warned off by. Let me finish with some disclosure: I am a Licenced Primerica Rep. I have only been with the company for four months but this month I will make about $3,500 and much more next month. In response to the "simple and childlike" comment above, I have a degree from The Citadel, scored a 1490 on my SAT (pre-reformatting), and have an IQ above 130, be careful when throwing around generalities. Finally let me close with a quote from my SVP, "my pyramid makes me 400k per year, what does yours make you?
Even though this is an old post (2007), I want to thank you for it! Makes me feel better to know I was not the only one who thought it was bunk.
Primerica: a Load of Crap! TM
Any company with this much controversy - legit or not - is not one I want any part of! Thanks for all the good reading. I confirmed that it is not anything I'd ever consider being a part of.
everyone complaining about primerica being a scam because they ask you for money needs to find out what there talking about. your check that you write is soley a backround check and when you pass your test(or pass your simulation test) its all refunded to you ecepy for $30. is it that hard to spend 30 bucks on a potential opportunity? the majority of people who complain about it are the same people who probably dropped twice as much on lottery tickets and ciggarettes this week. just because its not a salary based income dosent mean its not a job ive worked commission my whole life and because i actually had to apply myself and sell something to make something im not typing this blog from my moms basment like half of you
Primerica, a great opportunity, I just wouldn't join with Jim Sullivan Jr.& Sharon Smith(Sullivan). Jim is a sneak,thief & a puppet, he follows whatever his upline say no matter if his teammate is left out in the cold. If I were you I would ask some of his team members, how does Jim communicate with them (outside of being in the mtg? Does he ans his phone, how soon does he get bk to you? Did anyone no he was getting married, how did they (his team members find out he got married)? Has he invited anyone to his hm in the last 2 1/2yrs? Does he seem although he has somethg to hide? Is there a sense of unity in the base shop? If they knew then what they no now would they have joined the bus with Jim? He has lived with one women while having atleast 2 affairs with women in the business. He recently married one of the women he had been sleeping with& moved in with while still maintaining another residence. If you understand that you will understand why he continues to live his life secretly. He is not gd with building relationships, or follow up. His main concern is not whether you become wealthy, it is listening to his upline& and maintaining his wealth. His income has been the same for atleast the same 7/8 yrs, if his business was growing his teams income would be growing& inter his income would also increase(not the case) If you call his office 9 out of 10 times, you get a humanbeing which is an answering svc(718-832-5616), Good Luck. You Decide
DO YOUR RESEARCH BEFORE YOU JOIN PRIMERICA WITH JAMES(JIM) SULLIVAN & SHARON SMITH(SULLIVAN) OFFICE: 5502 AVE N. BROOKLYN, NY 11234. READ THE ABOVE BLOG
It's odd. Everyone Pro-Primerica seem to have facts to base their statements on, but I haven't seen anything other than pre-formed opinions based on personal thought from all the Nay-sayers. Most of the people against PFS are saying things like "they are bottom feeders" and such, but you show no basis for these statements. I'm seeing a pretty one sided debate here. The people against PFS are actually selling me on the idea.
If I only lived my life by blogs, I don't think I'd ever leave the house.
Quit cryin!
just because it didnt work for you doest mean it wont work for someone else
i made good money at it
you have no idea what your talking about,and its not a pyramid scheme.
to make money working with this company
you have to be a people person
and know alot of people,
if you have these to things you can make alot of money,
if you dont, then you will have a hard time at it.
AND THAT IS THE TRUTH!
Those of you with your God awful spelling have no business representing Primerica anyway.
Ok, I can believe Primerica is not a scam, but it's very much so like a pyramid scheme. Because it's an independent company that looks to expand it recruits recruits and keeps doing so, and as it keeps growing and recruiting such a diverse amount of people it lacks in the integrity of what the job is. I believe Primerica should just stop recruiting independents and become a more legitimate company with a SOLID foundation.
IF they are to recruit then recruit the right people and not just anyone who's "worked with the general public", that's like any job. I told them I worked in fast food, retail (barely a cashier), and an assembly line on a factory and they where interested? My resume says I went to college for music technology, why are they calling me?
I went to an interview about over a year ago, I'm writing this now because I got a phone call from them today, I was getting out of school and I didn't have the time to change clothes so I went straight there with an Ecko knit shirt and semi baggy jeans and Timberland boots, a little funky and sweaty because my car had no AC, are they that cool that I was able to stay for the interview or were they desperate or do they just don't care? I find that to be a lack of integrity towards a company, they could have rescheduled. Every time I talked to a recruit or the general-vice-manager-president-leader whatever it was I couldn't picture how the job functions, they just seemed like headless chickens running around (an old saying my mom says) talking about how great the company is but having no clear reality, I couldn't trust them.
All I'm saying is if they stop the pyramid than they wouldn't seem like a scheme to the ones in the bottom of it.
... unless they are trying to scheme for the big-shots to get all the cash flow by "expanding".
... and if you work there and you're making good money, doesn't it take some time - some process before you do? Is it as simple as being a people person? Maybe is my perspective because I don't have the salesman mentality. I don't like to pressure people into something if I don't think it's worth it - that don't feel right since I know what struggle is and have grown to have a budget mentality.
By the way I'm the same guy in these last 3 posts since 1:33 today. Took a little long to reply...
ALL IN ALL, Seek God. There's nothing more important than the health of your soul and spirit.
God Bless
"Well would a real job expect you to pay fees up front, i dont think so. Seriously you must be stupid. People are looking for real jobs not arty farty commission based (if any), seriously wake up you sound brainwashed!"
It's a fee for a liscense from the state. Have you ever had to get a sherifs or tam card you idiot? Yes, it's just like that. Primerica is not a scam, it's funny how people look at it in a negative way because it doesn't "make you rich quick." NEWSFLASH it's a job, you have to work hard to get paid. The only difference is you have a tremendous opportunity for advancement. Primerica has the most employees making 100k+ of any, that's right any, company. If you're not willing to work hard you will never be successful in Primerica. People are so used to being paid just to show up they are dumbfounded when their lack of effort doesn't earn them a paycheck. WAKE UP PEOPLE.
Thank you for the blog information. My husband was laid off recently and since the job market is so tough these days, it was nice to get an interview.
It's too bad that companies and individuals prey on people in tough times.
It's hard enough to make ends meet, but to get involved with something like this could really put an individual into a downward spiral.
It's unfortunate. Thanks for the tip!!
Primerica isn't for everyone.You got lazy people that just want a million dollers to fall into their lap.Get up do some work,stop being so lazy.Primerica is far from being a scam.Yea the marketing could be better but a scam nah,A business opportunity,YES.They help families become properly protected with term life insurance.So i guess every car insurance and health insurance company is a scam.Come on wake up people,who doesn't need life insurance,if your not interested in building your own business then don't even consider joining the business because you will not get the success that you are looking for.Try to start your own business from scratch and tell me how long it'll take,how many loans you had to apply for so on and so forth.Primerica is one of the easiest business opportunities out there you just have to work,but this is America and everyone is just looking to get rich quick.Last thing,if it's such a scam how come alot of the agents are doctors,lawyers,retired NFL players,etc.They switch over careers cause it was more job freedom and they seen the chance to be their own boss.So think about that!!
I love the internet.
Thanks for saving me an annoying day.
It's simple, lets see the structure of Primerica: Regional Vice President (RVP)=100% contract, Regional Leader (RL)=85-95%, Divisional Leader (DL)=75%, District Leader=50%, and Representative (rep)=25%; the percent being their "paid as" contract. Each representative has the opportunity to get a bump in commission (promotion) if they meet a quota for a certain month and they keep that increase in contract. The quota consists on a set amount of (AP) or annualized premium collected for the month, with a given total amount of recruits they have. Start up cost of approximately 100 dollars which covers around 200 dollars in pre licensing according to http://ce.lsus.edu/CatalogOfferingView.aspx?offeringID=177 along with the actual exam itself, cost determined by the state. Additionally, they offer families a complimentary Financial Analysis which normally runs around 300-500 dollars, however, they do it for free. This obviously seems like a scheme, right?
Lets now look at the structure of a traditional job. You have the owner who obviously makes the most money in the business, your Executive or CEO which obviously do not make as much as the owner, your Managers-who again there is another gap between pay, finally the employee-which are paid even less and have a set parameter of labor hours, however they do have opportunities to advance if they meet certain quotas. These quotas consist giving 1-10 years of your life to be promoted from 8-12 dollars an hour to something along the lines of 18-30 dollars an hour, additionally they must also constantly be on the managers good side-basically kissing up to said manager. No start up cost, except for uniforms or specialty equipment, if required.
So lets review. Primerica has a start up cost of $100 which covers state Life and Securities licenses, their "evil pyramid" structure of commissions which the whole sales industry uses, and their free financial service. Traditionally jobs may or may not have mandatory equipment(usually subtracted from the first paycheck), have a true pyramid structure with the owner/ceo sitting on top branching off managers branching off employees, employees perform a service that only benefits employers pockets.
Wow you know what forget Primerica, CEO's and business owners have the best pyramid scheme ever, suckers on the bottom have little to no hope of ever moving up!
Oh yes and lets give a university $80,000 and 4 years of our lives for these apparently amazing jobs that pay us $60,000 a year with the possibility of our boss being pissed one day and firing us out of the blue, or just to get laid off, kinda like whats happening NOW!
I just had an interview yesterday. The scenario was almost identical. A couple of odd things I noticed. My location in VA had a very strange interior setup, almost like they can vacate within a hour notice. I was given a "pre-interview form" to fill out while I waited, not that unusual except, I was never asked before to give my references up front before my resume was discussed. I did not fill that part out. This sort of business venture is not for everyone, but after the interview, all my instincts said walk away.
FYI Everyone> Pyramid Schemes are illegal. With this being said, be assured Primerica is not a Pyramid scheme. As with every sales job in the country, there is a multi level system set up. I have been with this great company for only a few months, and my personal experience has been great. I have not gotten rich quick, nor will I. However, as with any job, the harder you work, the better the financial results will be. I am saddened that there are some salespeople who use misleading tactics to get recruits, but every company has some bad people(Bernie Maddoff). Do your own research, and don't take advice from other people who are also broke. And for the record, I still have to keep my 9-5 job, but I know that with hard work, I will escape that system of working for someone else oneday. And to the guy who complained that the Primerica rep admitted that it took him 20 years in the company before he finally earned 1 million dollars in a year, how many years at your current job will it take before you can make 1 million dollars in one year? I am 35 years old, and I make 58,000 dollars at my job. I have been working since I was 16 years old and have never made 1 million dollars in one year.
Primerica's products are among the few that are genuinely "American Made". You can thus, sell them with pride, help others do the same, and prosper together. That's what MLM is all about! When was the last time you saw a Primerica "Commercial". You didn't? That's what MLM is all about; good ol' fashioned people to people, face to face business with honesty and integrity, and value! I pity the ones who don't see this!
If you have a problem with this company enjoy staying at home unemployed with ben and jerrys. Me on the other hand will enjoy my life with Primerica!!!!!!!!!!
Primerica isn't necessarily illegal but the people who are involved are weird and cult-like. It's a business cult, plain and simple.
I just signed up for Primerica I am horrified to see this blog me and my husband saw it as an oppurtunity to make extra cash I am not a person that is easily swayed I did doubt the company but after they met w/my parents and saved them about $600 a month i thought hey maybe this is something I can do and also feel good about what I am doing because we know not many jobs you leave feeling as if you really helped someone I don't know I will try my best and give you guys an update on if it is a scam or not???
Ok so I went with my friend to one of these little rally deals and the guy above me is right, its like a business cult and it creeped me right the f*** out. Anyway when it was over her recruiter jumped on me like a vampire ready to suck my money. And he was very eager to get me to join. These people trick people to get their money. My friend was given cds and it shows you how to get people to join by asking certain questions its a BIG scam and they prey on low income people. I did more research and it works off recruits like a pyramid scheme i told my friend for her not to take nobody else to that bullspit because they will get you if you are not informed!!. She can fall victim to this but me i want my money.
Thanks for all the great info. I had a feeling it was a scam. However, there was no way to tell when the only person providing info is the one trying to recruit me. Thanks so much for everyone's input.
Wow, the people who insist Primerica is such a great company are not very nice. Maybe they're not as happy with the company as they're stating. Just b/c ppl are wary of a scam doesn't mean they're lazy. And no one expects a million dollars to fall in their lap. Nor does anybody expect to make a million dollars at their current job b/c NO ONE HAS PROMISED THEM THAT!!!..unlike Primerica 'recruiters'. Thanks but no thanks.
PS - I love these blogs! Based on all this wonderful info I was able to make up my own mind and I've determined that it is in fact a scam. I've based that on the fact that they are not honest about the reality of the pay. Just b/c it's 'possible' to make that much money doesn't mean it's guaranteed, like a regular job. Plus at a regular job you don't have to pay to get the job in the first place.
Thanks again everyone!
Primarica is not a scam, per se, (in fact it has an A+ rating with the BBB) but is a cold sales job. You can "work" all you like at it, but you are still limited to the amount of people interested in your product. If you are a good salesman, you have the potential to make a lot money relatively quickly. However, even great salesman will have a difficult time selling insurance in at a time when people are approaching paranoid about the state of the economy; and, with the type of insurances sold by Primerica you may find selling a katchup popsickle to a woman in white gloves slightly easier... forgive the corny movie pun. Don't be fooled by the 'referal' system either. These referals are still cold sales. **Cold sales are sales in which you must convince a sceptical indevidual that a product is right for them; as opposed to warm sales, in which an indevidual already knows what they are looking for and just needs help with the right product**. So, in short, Primerica is ligit, but it will be VERY difficult to make a living if you're salesmanship is anything less than stellar.
This is really cool. I'm in basically the exact same position. I'm suppose to meet with a guy later today so I want to find out as much about this company as possible. I have a friend who works for Primerica and he sort of introduced me to whoever is in charge. Thanks for the info
Thank you I had a 7 pm interview today here in michigan and now I am glad not to waste my holiday!
Hello everyone again, I left the comment telling you all I just joined w/hubby so here goes this is what i found out so far Primerica doesn't sell products like food,clothing,bottles of stuff etc.. It is,you can earn $$ two ways, one getting people to join and market the business for you everyone they get at a certain point you get some sort of $$ the big bucks lay in helping people,which really turned me on to the business, honestly looking for people in crisis that need to save money,and I said what a great time to do this withthe economy and all.This is what you do,you go to thier home review their monthly bills and get quotes to see if you can save them $$ on car insurance,home,life etc.. by bringing their payment down monthly,this is something i would feel good about. I think what confuses people is when they say you need to build a team, that sent up red flags for me but so far it doesn't seem illegal or cultish I will keep you guys informed have a nice day and don't argue w/each other we are all trying to find a way to survive out here ...
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