They ask you to pay them $200 to work for them, their assemblies and meetings look like a pentecostal freak preach. They claim belonging to Citigroup and show figures of billions of dollars, yet their offices are under furnished and look cheap.
What's going on ?
2007-01-21 04:02:13 · 6 answers · asked by Adhesives 1 in Business & Finance ➔ Corporations
Yes they are a scam, fortunately I only lost about 500 dollars which was my start up but its your basic pyramid scam where you have to recruit to make anything....scam scam scam
2007-01-21 04:05:50 · answer #1 · answered by Anonymous · 0⤊ 5⤋
as the FTC defines it they are not a scam per the defination anyhow and they are technically not a pyramid scheem either. The $200 is for your "sales kit"... they do ahev affiliations with Citigroup. The problem with Primerica is int he offices themselfs their biggest buis. Is life insurence.. a hybrid term insurence for that matter so you are looking at EXTREAMLY HIGH TURNOVER for one. What they do is bring on everyone who they can and hope that one out of 150 can do the job. If you are the kind of person who can sell anything to anybody, has no family, no social life and constent energy then it might be a good mix for you cuz it takes someone there who can go out and make leads, stays posative, deals with rejection and doesnt mind working 60-80 hours a week, atleast in the beggining to make it work. The offices are normally underfurinished cuz no one is ever in there so they dont care.......
but in answer to your question technically no its not a scam..alott of people say this cuz they dont understand the actual defination of what a scam is and by the letter they are not one nor are they like amway. they will always get alott of negaitve attention because they are a sales company... and a hard sales company at that.. they hire anyone train them then throw them out to the wolves who ever can repeatedly come back intact will make a great living there!!!!
2007-01-21 04:19:34 · answer #2 · answered by crystal 4 · 1⤊ 0⤋
I currently work there and Primerica is not a scam. I too have paid $199 and didn't understand it at first. So I came back to get more info. The $199 goes to the state to process your licensing papers and do a criminal background check on you. The state charge around $500-$700 to process them, so Primerica pays most of it for you. You see, when you invest $199, wouldn't you take your license more seriously and actually do something with it? If it was free, would you feel the same still or just disappear and forgot that you ever had a license to sell?
Primerica representatives are independent agents and the company doesn't enforce any quota or pressure on them to do anything. Agents set their own schedule and have complete control on what they want to do. The company does set out incentives and bonuses for agents that do work. As an independent agent, the company gives you the right to recruit people. Just like in real estate, you first work as an agent and then you train others. Sooner or later you are a broker with agents under you and you override them.
At Primerica, the more agents you have and the more production being created, you eventually become from self-employed (this is what you are at the beginning) to business owner (the RVP contract).
Anyway, my point is the Primerica opportunity is a business opportunity and so you need to put a little investment of $199 to start it up. You don't have to worry about any other costs such as paying your agents, paying for rent, buying office equipment, and so on (except for travel). I think its the best business opportunity out there because you are free to do what you want and if you want to make some money, you will work and the company rewards you for working.
Primerica does belong to Citigroup. You can find that out at http://www.citigroup.com and then navigate through to Primerica's home page.
Check out what Ripoffreport.com has to say about Primerica: http://www.ripoffreport.com/reports/ripoff229393.htm
2007-01-21 07:08:50 · answer #3 · answered by Anonymous · 5⤊ 1⤋
You'll find their name posted all over the internet with good and bad comments. Check out a search engine like dogpile.com and do the research:
2007-01-21 04:09:12 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Here is your answer. Rip-off report is one of the most respected organizations when it comes to these kinds of issues. See what they have to say. Your welcome.
http://www.ripoffreport.com/reports/ripoff229393.htm
2007-01-23 05:44:42 · answer #5 · answered by The Standard 1 · 0⤊ 0⤋
Primerica is often called the "Amway of Financial Services."
A few people at the top of the pyramid make a lot of money and these people dangle that in front of you to get you excited.
It is more or less a "prey on your friends" multi-level marketing organization where most (90%+) of the reps don't even make enough money to live on.
2007-01-21 04:07:44 · answer #6 · answered by Wayne Z 7 · 0⤊ 4⤋