cacook
map-marker Washington, District Of Columbia

Primerica

I am not a Primerica rep but my father has worked with them over 20 years and had a cashflow this year of 180,000.

He paid for me to go to college with out any student loans.

I had a 2 bedroom apartment, car and spending money. So, I can not say it is a scam, matter of fact I can say it is a blessing.

It is plenty of hard work but has great benefits. My father is now a successful African American businessman who got his piece of the American Pie.

I will be pursuing the business part time myself beginning in 08.

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13 comments
Guest

Well known as a fraud and a scam. The positive reviews posted on this site are fake. Stay away from this MLM fraud at all cost folks!

Guest

20years = $180,000

WOW, first year I made $100,000 hmmmm, When I left primerica I was about to go voer $200,000

and I left all that cold turkey to be a broker

now as a broker I make more then your Dad and I have NOT worked even close to what your Dad has worked. I have been a solo Broker for just over a year........

Guest

Primericans are funny.

If any of you have children, have you ever watch them do something ***. And you know it is *** because you did the same thing before when you were their age. And you tell them donรขโ‚ฌโ„ขt do it because they will regret it. And they donรขโ‚ฌโ„ขt listen to you because รขโ‚ฌล“they know betterรขโ‚ฌย. And so you watch them fall on their face and all you can say is รขโ‚ฌล“I told you soรขโ‚ฌย and laugh.

You see Primerica agents I have been where you are, I was at Primerica for 3 years. And when I left I was the top producer in ALL categories in my state. So we can get these out the way:

1. It is not a pyramid scheme

2. I believe in working hard

3. I donรขโ‚ฌโ„ขt like Corporate America

Now I want you to take a hard look at the truth. You ARE selling a scam. You may not know it, and I believe that most of you donรขโ‚ฌโ„ขt. The unfortunate thing is once I tell you this you will NEVER get that $100,000 Ring that you covet because the most of the people that join Primerica are good people that think they are doing the right thing and for the most part you are, but to get that Ring after knowing the information I am about to share with you, you will have to become a different person, one that is more about making money rather then helping people. Once I found out this info, I refused to continue to sell that scam anymore and turned away from all the money I was making.

Here goes:

Letรขโ‚ฌโ„ขs look products you sell to the client:

1. Primerica is NOT the largest seller of Term Life Insurance รขโ‚ฌยฆ AIG is รขโ‚ฌยฆ look it up.

2. It is way MORE expensive then most Term coverage outside of (State Farm and Allstate) รขโ‚ฌยฆ so if you are TRULY trying to save people money รขโ‚ฌยฆ why not find them the lowest instead of just what you have to offer. Remember you are trying to SAVE them money. Some Return of Premium Products are less expensive then Primerica Term. You are hurting your client. After knowing that how can you still sell it.

3. What would you do if your client is declined by Primerica. Tell them they donรขโ‚ฌโ„ขt deserve life insurance then. You see this is what opened my eyes up, because my father was turned down by Primerica. Was I suppose to tell him รขโ‚ฌล“Oh, well .. too badรขโ‚ฌยรขโ‚ฌยฆ. No, I did what any good son would do, I started looking at other companies and found he could be covered with term insurance by them, for less then what Primerica was going to charge.

4. Term is the right product for 95% of people (sorry not 100%), the problem is you only sell Term which is great but what do you do when you run across a person that is in the Top 5% รขโ‚ฌยฆ Also think about it รขโ‚ฌยฆ arenรขโ‚ฌโ„ขt you trying to get all your clients and yourself to that Top 5% รขโ‚ฌยฆ what do you get when you are there?

5. You are taught with your mortgages to say รขโ‚ฌล“Interest Rates do not matterรขโ‚ฌย or รขโ‚ฌล“Ours are calculated differentlyรขโ‚ฌย รขโ‚ฌยฆ If it doesnรขโ‚ฌโ„ขt matter then why not give them a competitive one. I also dare you to put that in writing, Home Office Compliance would be down your throat quick because they know it is not trueรขโ‚ฌยฆ so they donรขโ‚ฌโ„ขt want it in writing.

6. With your investments รขโ‚ฌยฆ the market is down right now รขโ‚ฌยฆ am I suppose to sink money in an investment I know is going to go down right away รขโ‚ฌยฆ. Thatรขโ‚ฌโ„ขs right Primerica has annuities now รขโ‚ฌยฆ even though just a couple of years ago annuities were รขโ‚ฌล“evilรขโ‚ฌย.

7. A clientรขโ‚ฌโ„ขs money is sacred to them รขโ‚ฌยฆ why would they sink it into a company with so much negative press, it scares them รขโ‚ฌยฆ. Why do it รขโ‚ฌยฆ. When they can get the same thing for less with less negative remarksรขโ‚ฌยฆ. For all the agents who say that is just รขโ‚ฌล“someรขโ‚ฌย agents that act like รขโ‚ฌล“thatรขโ‚ฌย รขโ‚ฌยฆ. They represent YOUR company and because the RVPs donรขโ‚ฌโ„ขt care what type of people they are as long as they have $199 (now $99) so the RVP can win the next contest.

But Most of you arenรขโ‚ฌโ„ขt in Primerica because of the products, you are in it for the business. Because you think there is nothing is better then owning your Primerica business. It is definitely better then Corporate America that is for sure. Here is where I look at you like teenage kids with your first beat up car speeding around town like you own a brand new Mercedes and I tell you to รขโ‚ฌล“slow down and thinkรขโ‚ฌย .. you will either listen or will crash and I will say รขโ‚ฌล“I told you soรขโ‚ฌย

How many of you TRULY read and understood your IBA contract when you signed it? Let me go over some things before I enlighten about your IBA contract:

1. How can you tell a new recruit that you can make a lot of money before you actually do it. Doesnรขโ‚ฌโ„ขt that feel wrong to you?

2. The money you are spending for your IBA DOES NOT pay for your licenseรขโ‚ฌยฆ it pays for processing and your Licensing class รขโ‚ฌยฆ. Most states donรขโ‚ฌโ„ขt require a class why does everyone have to pay for it.

3. Why canรขโ‚ฌโ„ขt a new recruit go get your licenses BEFORE you sign your IBA?

4. Why canรขโ‚ฌโ„ขt new recruit go see clients AFTER you are fully licensed and then sign ALL transactions? I know why this is the case รขโ‚ฌยฆ. Most agents are not making money so they need to sign it to make money and they are afraid the recruit will quit.

5. Why beat around the bush when saying the name Primerica รขโ‚ฌยฆ.. you are taught to say รขโ‚ฌล“Division of Citigroupรขโ‚ฌย รขโ‚ฌยฆ. รขโ‚ฌล“Member of Citigroupรขโ‚ฌย รขโ‚ฌยฆ.. รขโ‚ฌล“Largest Financial Services Distribution Hubรขโ‚ฌย รขโ‚ฌยฆ.. รขโ‚ฌล“PFSรขโ‚ฌย รขโ‚ฌยฆ.. anything but Primerica รขโ‚ฌยฆ it goes back to the bad rep .. and the fear that the new person will Google the name Primerica

6. People who leave Primerica are not quitters or couldnรขโ‚ฌโ„ขt make it at Primerica รขโ‚ฌยฆ people making six figures have left Primerica for better opportunities รขโ‚ฌยฆ you just donรขโ‚ฌโ„ขt know they exist.

7. You would NEVER be able to recruit a person who is already licensed and knows what questions to ask.

8. Citigroup (not in the best financial shape right now and has Abu Dhabi is now the largest shareholder) is looking to sell Primerica รขโ‚ฌยฆ. FACT รขโ‚ฌยฆ check out the Wall Street Journal March 28th 2008 Section C รขโ‚ฌยฆ รขโ‚ฌล“Citigroup has a major retail presence in just a handful of major cities, including New York, Miami, Chicago and San Francisco. Primerica Financial Services, which sells life insurance and mutual-fund products, is up for sale but isn't attracting buyers, say people familiar with the matter.รขโ‚ฌย

Now on to the IBAรขโ‚ฌยฆ. The moment you sign your IBA these things happen:

1. You become a captive agent รขโ‚ฌยฆ.. not allowed to sell anything Primerica does not offer รขโ‚ฌยฆ. Hand cuffing you to fully help your client.

2. You only have one company to work with Citigroupรขโ‚ฌยฆรขโ‚ฌยฆ why not allow you to use any company you want รขโ‚ฌยฆ. There are companies that do.

3. You have to give up a รขโ‚ฌล“legรขโ‚ฌย (your MOST productive team) to become an RVP รขโ‚ฌยฆ. Why not let them become an RVP AND keep their whole team รขโ‚ฌยฆ.. Other companies do it

4. Hear me when I say this!!!! YOU DO NOT OWN YOUR BUSINESS!!!!! Donรขโ‚ฌโ„ขt believe me รขโ‚ฌยฆ ask your RVP if you move to a different company can you take your clients or team with you รขโ‚ฌยฆ.. you will find out real quick รขโ‚ฌยฆ read your IBA it says it in your IBA .. your RVP owns your business รขโ‚ฌยฆ you do not own your business until you are a Senior Vice President AND have had 5 years of at least 3% growth. รขโ‚ฌยฆ Until then your RVP owns your business รขโ‚ฌยฆ even after you become an RVPรขโ‚ฌยฆรขโ‚ฌยฆ there are other companies that allow you to take your clients with you.

5. I will preface this comment รขโ‚ฌยฆ. I am a huge believer in recruiting รขโ‚ฌยฆ.. I love recruiting and I am good at it รขโ‚ฌยฆ. BUT you should not have to be forced to recruit to be promoted รขโ‚ฌยฆ you should have the choice to work yourself or recruit and have the same opportunity รขโ‚ฌยฆ America is about choice.

6. Your Securities (investment) commission is HORRIBLEรขโ‚ฌยฆ.. there is NO WAY you could live on it alone .. add it up.

7. You IBA has a non-compete clause in it รขโ‚ฌยฆ. Which means try to leave for something better รขโ‚ฌยฆ see how nasty your old รขโ‚ฌล“friendsรขโ‚ฌย get.

8. You have to be full time to become RVP รขโ‚ฌยฆ. Do you forget some people like their job รขโ‚ฌยฆ pastors, teachers (I know the company was started by teachers รขโ‚ฌยฆ but you fail to realize A.L. Williams was a different company then Primerica) or anyone else that would like to keep their job.

9. As an RVP you are required to get an office รขโ‚ฌยฆ again I like having an office but some people do not want the overhead รขโ‚ฌยฆ why make them pay it?

10. You can be รขโ‚ฌล“Rolled Backรขโ‚ฌย which means lose the promotions that you have received and the commission levels at your RVPs discretion รขโ‚ฌยฆ. Not enough production, illness, or because your RVP wants to teach you a lesson.

11. Some people do not like the risk of the market รขโ‚ฌยฆ. You can not sell a fixed / index annuities รขโ‚ฌยฆ. Most of you donรขโ‚ฌโ„ขt know what that is รขโ‚ฌยฆ donรขโ‚ฌโ„ขt worry I didnรขโ‚ฌโ„ขt either when I was there รขโ‚ฌยฆ trust me your hurting some of your clients by not having access to it.

12. What happens when you have a recruit at your same commission level รขโ‚ฌยฆ you 2 are at the same level you get no override รขโ‚ฌยฆ. Doesnรขโ‚ฌโ„ขt that make you want to keep people below you รขโ‚ฌยฆ not push them upรขโ‚ฌยฆ..Some companies will still reward you even when you are at the same level

13. A brand new person starts at 25% รขโ‚ฌยฆรขโ‚ฌยฆ. They can do all the work (and you know as well as I do รขโ‚ฌยฆ getting a warm referral is most the work รขโ‚ฌยฆ so donรขโ‚ฌโ„ขt tell me because you did a flip chart presentation you did most the work) and they only get 25% รขโ‚ฌยฆ.. the RVP get 95% รขโ‚ฌยฆ. So the RVP get 70% of something รขโ‚ฌยฆ they may not have been there forรขโ‚ฌยฆ.. doesnรขโ‚ฌโ„ขt sound fair รขโ‚ฌยฆ I thought Primerica did what was right รขโ‚ฌล“100% of the timeรขโ‚ฌย

14. Letรขโ‚ฌโ„ขs say Primerica goes out of business (donรขโ‚ฌโ„ขt believe it รขโ‚ฌยฆ check out ENRON, Bear Stearns, and Citigroupรขโ‚ฌยฆ. And read the Wall Street Journal article I reference above) รขโ‚ฌยฆ.. your contract and license is with Primerica รขโ‚ฌยฆ what do you then? รขโ‚ฌยฆ because I already explained to you รขโ‚ฌยฆ YOU DONรขโ‚ฌโ„ขT OWN IT

15. Do you like paying for POL, Call Atlanta, marketing material, leadership school, and training (hype sessions) รขโ‚ฌยฆ. Most companies give that stuff out free

16. DO YOU LIKE CHARGEBACKS?????!!!!! รขโ‚ฌยฆ. Come on of all things I know you are tired of รขโ‚ฌยฆ we have to agree on chargebacks รขโ‚ฌยฆ.. for those that donรขโ‚ฌโ„ขt know what a chargeback is: the agent turns in the paperwork to Primerica and is immediately paid รขโ‚ฌยฆ. But the policy is not issued which means if the client changes their mind, finds something cheaper, does not qualify, drags their feet on blood work, stops paying or for any reason does not get or continue the policy รขโ‚ฌยฆ. Primerica wants their money back รขโ‚ฌยฆ.. which means they take it out of the next check or the next one or the next one which means you are running up an escalator and YOU KNOW IT รขโ‚ฌยฆ. Sorry to give out the dirty little but you can not say you like the CHARGEBACK รขโ‚ฌยฆ. Again not all companies get those and NO company gives them out as much as Primerica

17. Most people become disable before they die รขโ‚ฌยฆ. You canรขโ‚ฌโ„ขt sell disability insurance or you will be fired รขโ‚ฌยฆ hurting your clients again

18. What about health insurance รขโ‚ฌยฆ again .. try to sell it and you will be fired (by the way รขโ‚ฌยฆ does it make sense that you can be fired from your own business?)

19. Critical care รขโ‚ฌยฆ. What if you client gets cancer รขโ‚ฌยฆ or do have insurance for that รขโ‚ฌยฆ. Nope รขโ‚ฌยฆ. Fired Again รขโ‚ฌยฆ By the way before you say it รขโ‚ฌยฆ. Most life insurance has accelerated death benefit รขโ‚ฌยฆ. So Primerica not special with that.

20. Make sure you check with Primerica before you do ANYTHING if they donรขโ‚ฌโ„ขt like it they can terminate you (read your IBA) รขโ‚ฌยฆ sounds like a JOB to me .. Iรขโ‚ฌโ„ขd rather be independentรขโ‚ฌยฆรขโ‚ฌยฆ the sad part is most donรขโ‚ฌโ„ขt know you can be รขโ‚ฌยฆ.

Listen รขโ‚ฌยฆ I wrote this for the person I was before I left Primerica hopefully that person is reading this and just starting to open your eyes a little bit and ask some questions that they didnรขโ‚ฌโ„ขt have beforeรขโ‚ฌยฆ. I donรขโ‚ฌโ„ขt hate Primerica รขโ‚ฌยฆ I donรขโ‚ฌโ„ขt hate the people in Primerica รขโ‚ฌยฆ but you donรขโ‚ฌโ„ขt know everything about the company รขโ‚ฌยฆ.. and I can almost guarantee you didnรขโ‚ฌโ„ขt read or understand the IBA you signed. And if you donรขโ‚ฌโ„ขt open your eyes and figure it out รขโ‚ฌยฆ. You are going to hurt some people and your going to hurt your family. Think about it รขโ‚ฌยฆ donรขโ‚ฌโ„ขt try to argue with it just read it and find out if everything I said is true รขโ‚ฌยฆ. Donรขโ‚ฌโ„ขt believe me READ YOUR IBA. I was you before I found out all of this stuff. The question is รขโ‚ฌล“Once an honest person knows the truth, he/she has 2 choices, continue to be honest and change their current course of action or cease to be an honest personรขโ‚ฌย. I will gladly talk to you here about it and answer any comments, questions or disagreements you have.

Guest

To jim who says it is a pyramid scheme, you dont grow to be part of the largets financiel institution in the world by "PYRAMID" they are illegal.

Guest

To let everyone know, it is a pyramid scheme, and so is every business out there. there are the little guys and you have the big guys, the only difference is you can be the big guy!....i average a cash flow of 36k as part time, im a student in college pursueing business finance

i will be graduating with my bachelors in 3 more semesters. I have been with the company for 2 and a half years and networked with family and friends to build a team. I am licensed for life and securities. I believe in all the products and methods we advise.

A highschool friend has already contacted me and asked to help his new family out. Within two weeks of helping his financial structure out he signed up to join. The company is amazing. I have been to many financial service companies and trust me in searching for my future workplace there is NO OTHER PLACE THAT COMPARES TO PRIMERICA.

It is not a scam, we do not pressure anyone, and *** whats an extra 3 grand a month when I am a student. Oh wait yea thats right thats the salary of some of you full time workers....trust me if i was full time id be in the six figure range but education is important, I master my craft!

Guest

Ok ya'll are funny... well the ones who are bashing a company they really know nothing about.

For one there are certain branch offices that RVPs run... ANd yes some of those offices are not doing the right things. These offices get shut down! Not every office is bad and screws people.

I work with primerica right now, we are taught to never pressure anyone to do anything, if they arn't interested then move on.

I could go on and on about how great the company REALLY is, but i see no point because ya'll will probably just believe what you want. Just felt like sharing a little.

"A person who risks nothing, is nothing."

Guest

But some of the negative comments are posted by some of us who have been hounded relentlessly by these "licensed" Primerica "experts".

I know for a fact that these "uneducated by licensed" representatives are leading people to make HORRIBLE decisions.

Several years from now, there WILL be a major class-action lawsuit against Primerica, because there WILL be enough people who find out they've lost what they were told would be a huge retirement pension.

Guest

Funny how not one of the negative comments here has been posted by someone who got thier licence with primerica...

Guest

I can make several 100% guarantees, concerning Primerica.

1. It is a giant pyramid scheme. Period. no question. So think about it... If every "agent" in this pyramid scheme is making money off your investment - or your mortgage - do you REALLY think you're getting the best deal?

2. Most of the "agents" do NOT know what they are talking about. They are NOT trained experts in finance. They are lying to you - either intentionally or because they themselves are ignorant.

3. Their Term Life Insurance WILL COST YOU MORE in the long run. It absolutely will!

4. Primerica is NOT financially stable. It is owned by Citigroup - a corporation that just accepted a $7.5 billion cash infusion from Abu Dhabi, a government owned company of the United Arab Emirates. Abu Dhabi is now the largest shareholder in Citigroup! How does it feel to know you'd be doing business with a corporation that is partly owned by middle-Eastern terrorists?

5. Primerica does NOT have the best rates, and they do NOT have the best deals on mortgages and/or insurance.

6. They use relentless, high-pressure tactics to coerce people into making bad choices.

Guest

In regards to tom. Primerica is NOT a job!

There are a business opportunity. Don't go to that interview because those primerica representatives are using bad recruiting methods.

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