Have any of you heard of,or know anything about Primerica.A friend of mine is working there part time and is trying to recuit me .I'm just curious to know if anyone has heard of them or had any experiences with this company.
Primerica is a company that was built on the whole premise of buy term life insurance and invest the difference. Since Primerica's website is down right now. This sums it up pretty good. http://en.wikipedia.org/wiki/Primerica They may have changed since I was in the field many years ago, but they almost a cookie cutter feel when dealing with client's finances and financial plan. Dawn
When my friend first told me about this business opportunity a year ago I was a little skeptical.My Skepticism grew after my orientation.I didn't know I was going to be responsible for my own clients,and when I asked how I was supposed to secure clients I wasn't given a straight answer.Plus the pay structure is basically a pyramid were people upline of you get a piece of your sales and you need to bring in new employee's to boost your income .I was just curious to see if anyone else has dealt with them before.
I looked into this about 20 years ago. You secure clients the same way your friend did, by recruiting other friends. I even went so far as to take the course in preparation for the insurance license exam before I remembered I don't like dealing with people enough to ever maek it in sales.
from the wiki article: That ain't gonna pay for much racing. -jim ref: http://en.wikipedia.org/wiki/Primerica#Compensation
Typical pyramid type of deal. Their products aren't that great and you will earn most of your money in recruiting. That said, I have known a few individuals who made six figures doing it, but it takes a certain kind of mindless drone to be good at it. Basically the type who just do things without questioning them at all. If you are the type of sales person who is a student of your industry, I would imagine you would outgrow them before you got through whatever the ''orientation'' or whatever it is.
you're better off selling mary kay A friend tried to recruit me into this several years ago. After digging a little bit into it, I took it as a pyramid scheme and bailed
I was involved for a little bit. I learned a little bit about the insurance business but I never made anything. If you're a natural salesman and work at it, it can pay off nicely. My cousin got involved with it and now has his own office.
All marketing is multi-level to some extent, but this one relies too heavily on continual recruitment for its customer base rather than active selling (at least from what I remember). I do recall that one had to buy a policy to become part of theteam.
I agree they were ready to hire me before they called any of my references, and they seemed to be busier recruiting than they were selling their products and services.
They use the same business model as Amway, Monavie, and all the other MLM cults/scams; the ostensible product is different, but the goal is the same - recruit as many suckers as you can. For every "success story" in a MLM scam, there are hundreds, perhaps thousands, of downstream losers who paid their recruitment money up the chain to create that story.
Run far & fast, & that's not an opinion of someone who heard something from a brother in laws friend. A guy who i used to race with lost many friendships because he bought into the whole "if you recruited half of your friends & half of your family, you would be a millionaire by XX/XX", sales pitch. He went to 3 (three) meetings, at night, for a couple hours after work. Then, he claimed he was a financial advisor. I couldn't help but laugh in his face. I took one look at the top page of the info he gave me & said "this is a pyramid" to him. He was incredulous. It took him months to come to reality. By then his life was 180 degrees from what it was a few months prior. Having said all that, don't take anyones word for it here. Do your own research, as i did with a few google articles. A few years ago, my monitor lit up with articles telling horror stories of Primerica. I can only suspect it is worse now. Edit: I read the whole thing but all you need is the beginning to get a grasp. http://www.scam.com/showthread.php?t=23982
They tried to recruit me when I was about to graduate from college. The guy called me and told me he wanted me to meet his vice-president. I agreed to a certain time and date then started asking around about it and found out it was a pyramid scheme. When I called the guy back and told him I wasn't interested he got very angry and started doing the "hard sell" on me. I eventually hung up on him. A few years later I now work in real estate and they were a tenant in a building we had listed for sale. They couldn't even manage the $1,000 a month rent for a space that was essentially a small office and a large meeting room. We eventually just told them if they get out and leave the space in rentable condition we won't sue them for the past rent. Classy bunch...
I lost a friend mostly due to this. Same basic story and I was really shocked that he would fall for this. He was one of the most skeptical people that I knew but for some reason, these people hooked him. When I said no thanks, he got more aggressive so I started researching the company and found the same warnings that you all here are saying. Run away quickly.
