is primerica a scam ?

Answer 1

As for my experience, they are not. There are two sides of Primerica: the coporate side and the business side.

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.

On the business side, this opportunity is open to everyone. You get to help families with their finances and you have a great support system to back you up. If a family wish 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 certification to do that). 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 wish to rollover some investments or wish to start a long term investment, you can do that too (but you need to get a securities license to do that).

If client does business with you, you get paid commissions. How much commissions depends on your sales level. To move up in the sales level, you need to recruit people. Why recruit? Main reason is to help more families and open your business to a larger market. Second reason is that if your recruits help a family, not only they get paid full commissions on their work, you get paid an override. An override is the difference between your sales level and their sales level. We're the only financial service company that has a system like this because Primerica is a profit sharing company. Other financial companies keep the profit to themselves and don't let people recruit other people. As you can see, there's no competition. 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.

Answer 2

Prime America Scams

Answer 3

Primerica is not a scam. I've been a marketing officer and financial advisor for 34 years. While I would NOT represent or recommend Primerica, they are NOT a scam. To me they are like a multi-level marketing group, and I don't personally consider their local managers or training folks as very professional. IMO, it's 'do whatever, say whatever, just get the sale and don't leave any $$$ on the table.' I disagree with that, and personally think it's unethical. People deserve individual attention from a full-time professional - just like they would want a full-time doctor or full-time attorney, not a part-timer. Just my observations over the years.

Answer 4

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As big as Primamerica is.... they have a terrible reputation. The biggest problem is their selling network & high expenses. Many investments & poicies are sold inapropriatley...... Try to stick to life insurance companies licenced in New York (some of the best consumer protection laws). Make sure the company is highly rated (if they go out of business... you lose). In general, Term Policy's are the best for most people. I like the "term certain" the best. We purchased one that was 30 years certain (quaranteed rate and coverage). There are special reasons to look at other types but remember; Life Insurance is not (NOT) an investment vehcle. Most people are better off with Term. Whole Life is the worst with Variable Annuities even worse. Good luck!

Answer 5

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RE:
is primerica a scam ?

Answer 6

The bad thing about this is that Primerica has the reputation of having members who don t have a handle on their finances yet give others advice. It would be very hard to convince prospective clients that you have more experience in finances than their average member.

Answer 7

I think it is. My neighbor asked me to attend a meeting w/her well over a year ago. At 1st it sounds easy cuz they say you can work from home, earn all this money and use the money u earn for trips etc. The thing is, it costs $$$ to take this test which is to get your license. Im not a very persuasive person so it would be hard for me to sell insurance to an individual. It reminds me of the "pyramid" thing that relates to business. Anyways, good luck..remember, you shouldnt have to pay for something like that. Try to talk to someone who's done it. Get the pro's & cons. Remember, you have to build up your own clients, and depend on them to spread the word to come to you, not someone else. At the time I didnt have $500 for it. All the vacations, cars & they show you having, remember, you have to earn that. If it was true, you probably have to bust your butt by working!!!! and the whole world would be doing it.

Answer 8

they are a real company. but you have to pay them to get all your liscenses, and then you have to get people to buy your insurance or refinace with you or whatever to make any money. it's an MLM, so you make money from recruiting people to work under you. unless you are SUPER persuasive or motivated to recruit and sell, look elsewhere for employment.

Answer 9

Let me just say..walk in with your eyes wide open!...Some folks may make lots of money....(key words is some may) My oldest daughter tired it..spend some money..went to meetings..and took me once(it was like a pep rally). I didn't tell her i told you so!..She knows herself.I'm not telling you ya or nay...you need to see for your self. (go to one of the meeting. but.leave your cash, checkbook,,cc's at home) Good Luck in whatever you decide.

Answer 10

Primerica is MLM, but it is not a scam. Not everything tagged "MLM" is a scam. Primerica is a multi-tier marketing company who is the sister company of the larger Citigroup.

They prey on low-income people and then "train" them to teach other people how to "handle their finances." I haven't met a single person in PrimeAmerica who has over a 500 credit score...