is this a good company or just a scam any feedback is welcomed
2007-09-11 18:19:45 · 7 answers · asked by dentedbike 1 in Business & Finance ➔ Corporations
how about pyramid schemes?
i'm surprised that citigroup even allows it to occur!
2007-09-11 18:38:05 · answer #1 · answered by Anonymous · 0⤊ 3⤋
My experience is pretty good. Any difficulties I had was all caused by me and not by anyone else. I didn't want to call people, I didn't want to do any work at the beginning, I was just not motivated to build my business. But once I found my reason on why I'm doing this, I became more focus and got to work.
Primerica taught me lots of things that no one has taught me before. I learn a great deal about the life insurance industry and the crusade this company took against the traditional ideas of the life insurance industry. Primerica stood strong with buy term and invest the difference while the rest of the industry continue to sell cash value life insurance. I learn a great deal about the mortgage industry and how mortgage lenders only care about getting people into homes without understanding the client's financial needs (that's why thousands of people of foreclosing their homes because they own fancy mortgages). I learn valuable stuff about how money works and how to get money to work for me (by investing) instead against me (living paycheck to paycheck). Primerica taught all these things to me and I'm more knowledgeable about finances than the rest of my friends. Most of my friends don't invest money, they spend it all. Of course, they are in their 20's and I don't blame them that they want to have fun vs thinking about the future.
Primerica is the only company that help me start investing for $25/month. Other companies ignore me or couldn't accept my investment. Primerica put together a financial needs analysis for me for free while other companies don't even have it or they would charge me $2000 for it.
Thats my experience and it took me 2 years to understand the financial industry as a whole and I'm still learning something new every week.
2007-09-14 13:55:34 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Is it a "Scam" in the legal sense? No.
Will you make any money? No, probably not.
You did however pass the first test needed to work with Primerica. You were breathing. Seriously, they try, and you would be expected to try, to recruit everybody you know.
I read a couple of years ago that the average FULL TIME Primerica rep only makes about $12,000 per year.
I tend to agree with some of their financial theories but their products are generally very expensive relative to similar products available. They have to be expensive to pay the commissions up and down the pyramid.
2007-09-12 10:53:18 · answer #3 · answered by Wayne Z 7 · 0⤊ 1⤋
This company is NOT a scam. It is a financial service company that sells mutual funds and life insurance policies through their independent contractors. If you sign up, you will spend your first year selling life insurance policies as you train to become a financial planner. You get paid a commission on all life insurance policies that you sell for the first year that your customer has it. Then, you recruit people to sell insurance policies also and make a small extra percentage of whatever they sell. You receive the commission just like they do because you are basically their manager, helping them every step of the way.
It's not a bad company, but like every direct sales company, you have to bust your butt to get clients. But at the same time, you get very good training every step of the way.
Hope this helps.
2007-09-11 18:28:06 · answer #4 · answered by E.T. Barton 5 · 1⤊ 0⤋
Primerica Cleveland Ohio
2017-01-15 06:52:25 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Its a tough business model. It does work, but i can tell you that the Primerica in Cleveland had major issues. Another option is a financial firm franchise called LPL.
2007-09-12 00:14:37 · answer #6 · answered by Lucky Chuck 3 · 1⤊ 0⤋
It is an MLM, they bought out A.L. Williams, they sell life insurance.
My experience with them is that they lie to get recruits. I was invited to one of their "Seminars", and before I went, I asked them, does it involve selling life insurance, and they said no, it didn't.
At the seminar, they said you were required to get your license to sell life insurance to join. Their investments involve you buying their life insurance, and selling it to others, and getting recruits to do the same.
I know they are legal, but they sure lie a lot.
Their life insurance policies decrease in benefits as you get older, and their mutual funds have extremely high fees considering the low rates of return that they have.
2007-09-12 00:55:56 · answer #7 · answered by Feeling Mutual 7 · 0⤊ 0⤋