Priamerica is this a scam?

Question

Has anyone done this course which lets you set up your own financial counceling business after your done with their required course and license in your state.How dificult is it to get started and is this just a pyramid scam that the people above you make the money or is it legit?

Answer 1

I would not say it is a scam, but it is very hard to make money with this. They basically sell life insurance. There are already tens of thousands of life insurance people. How many more are really needed? Also, would you like a person that is basically broke and works this type of job part-time telling you how to invest your money? What possible good advice on managing your money can they give you if they can't even manage their own?

Answer 2

Vector is NOT a scam by any means. It is not the most traditional job where you sit behind a counter like zombie and do something that any human being on the planet can do. I am a college student and I am 19 years old and I have been with Vector for 19 months. I also heard about the job because I was recommended by my friend. I didn't expect the call, and my friend didn't tell me anything, so at first I was cautious, however after the interview I got the position and since then I have never looked back. It's a guaranteed rate of pay and it varies across the country, my office does $20 per appointment, also there is no cold calling or canvassing and especially no door to door. So if you actually WORK at it and FOLLOW the program you will do well. Also in general keep an open mind and don't take advice from people that have gone through 1 day of training like "mom to be 2 my Princess 81909". If you have an interview and you are curious about going, just go, you have nothing to lose.

Answer 3

I looked into Primamerica. My sister's FiL was all gung ho about it. I was already licensed but they still wanted me to pay them for my license. That bothered me, I think some people can really make a go at this, but usually those people are few and far between. If you decide to this, my best advice is to make sure you go to all the sales/training meetings. You will also probably need to work a different job for the first year or so while you build up your business. It can been done, but it's going to take real effort on your part, and even then, there are no guarentees.

Answer 4

It depends what your definition of scam is. Primerica is a legit business. I can go on and on about Primerica.

Bottom line, I think you hit the target about what Primerica really is. Primerica will tell you that its not a pyramid scam, but it really is. Search online for "Primerica scams".

I don't recommend this Piece Of S organization. If you continue, you might loose friends or make family members hate you. Have you already given your list of friends or family members to them?

Business and Marketing Student

http://www.ripoffreport.com/reports/0/025/ripoff0025042.htm

Answer 5

They'll claim that it is legit.

Here's how to check up on them. Go to your public library and look up in the back issues of Consumer Reports for their about once every five to seven years survey of the cheapest life insurance policies available. Find out where Primerica's policies fit in.

Do the same for their mutual funds [this info is available each year -- ask your research librarian to help you find it].

Then figure out what licences you'll need to get to actually receive the commissions they give their agents. Look out for the situation where your upline gets the commission because you don't (yet) have the appropriate licence.

And you'll want to find an upline who actually knows a lot about selling and can teach selling. I suggest passing on any upline who did not learn to sell outside the Primerica organization.

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Now, can you actually get a licence to sell life insurance and/or mutual funds through their study courses?

Yes. Some people actually have, so it is possible.

Can YOU do it?? I can't tell -- do you learn well the way they teach?

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What are the alternatives if you are determined to get into this business?

My second son is an agent for one of the biggest outfits. He has life, mutual funds, and securities licences.

When he started, he told us that there are only about 20 life insurance companies in all of America who actually take in new people and train them. He was the sole person in his class of 30 something who lasted more than three years at that firm. There were three classes a year.

Being selected to even start the training required an examination and multiple interviews. My guess is that fewer than one person in 100 who began the selection process actually began training.

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Can you make a living doing this?

Since some people do, the answer is "yes".

Can YOU do it? Again, I do not know because I do not know you.

I do know that you'll be selling, selling, selling. That you'll have to motivate yourself. Our son started by cold calling on the telephone. He made 50 such calls a day for years. And I mean six days a week, 50 weeks a year. 15,000 cold calls a year. {"cold call" = someone you do not know and have never met}

He was hung up on much of the time. Shouted at. Screamed at. Received profanity and abuse.

And he had a very big name in the business behind him. All for an average of one "I'll come to your presentation" a day. Of which about 1/3rd didn't show.

My son really sticks to it. Today he has a stable of clients and makes six figures a year.

By the way, he still cold calls every day but the number of such calls is down because he is short of time after taking care of existing clients. Most of his new clients now come from introductions made by existing clients. And he still cold calls every day.


GL

Answer 6

If you are considering it, please do NOT listen to people like a couple of your respondants who said it's a scam. It is a very legitimate company that has produced a lot of millionaires. It has been around since the 80's and has thousands of offices all across the world. Scams do not last that long. They provide a wonderful opportunity who for people who realize that the real scams are jobs that people work 30-40 years, retire, then have to get a part-time job to make ends meet.

Do your research and listen to SUCCESSFUL people, not people who "tried" it, was not willing to step outside of their comfort zone to develop themselves, become better and dedicate the time required to become successful. Those are the people who will tell you it's a scam, it doesn't work and things of that nature.

Best wishes!

Answer 7

Hello, just wanted to mention, I enjoyed this discussion. Very inspiring replies

Answer 8

Someone just came to my crib about that and i felt that it was reasonable. I mean I'm gonna try it.