Primerica...

[chocobaR]

This guy from work says he's studying for Primerica. Says that within 5 years or so, he'll be able to retire and live from a % of his subordinates' revenue. Mind you, this guy is 18. You should hear him talk about Primerica, he makes it sound as if it's the best thing in the world. He said they take $5,000 and within a few years, that $5,000 becomes 2.4 million. What a moron.

Can you guys give me any information you have about Primerica? To me it all sounds like a big scam. Thanks.

Here is the website: http://ww3.primerica.com/public/

 

[ElFenix]

it's a pyramid scheme.

they're agents selling life insurance. that's their main line of business. how they sucker you in is that they tell you, in a short while, you'll be able to train other agents. and you'll make a cut of the other agents' line of business. of course, to obfuscate the fact that they're merely insurance agents, they go by the title 'regional vice president.'

i'm sure you can make a decent living selling life insurance and various other investment vehicles. but you can't train that many other agents. and they won't make that many sales to begin.

 

[SearchMaster]

ElFenix put it very well. We had a family friend sign up, and as a personal favor, sat through a "training" sales pitch. They market themselves as financial planners but they just sell insurance, and it was pretty expensive too. They made her give something like 10 names of couples to give the pitch to in order to join, I think she had to pay some money too (big red flag for pyramid scheme). I'm not sure she did any more sessions after ours before she quit to get a real job.

 

[VanTheMan]

Yeah, some guy tried to recruit me for that. I listened to his whole speech and it sounded alright until the end when he mentioned that I would have to pay like $600 to get some "certifications" or some crap.

 

[ElFenix]

Originally posted by: VanTheMan
Yeah, some guy tried to recruit me for that. I listened to his whole speech and it sounded alright until the end when he mentioned that I would have to pay like $600 to get some "certifications" or some crap.

the series 6 is a real certification. you have to have it to sell various financial products. the $600 is the cost for the training course. i don't know if the $600 is the normal cost or not. but any real financial planning firm will train you and pay you while you're being trained (like ameriprise), as opposed to primerica.

 

[Lorax]

got recruited when i was looking for a job, sat through some presentations but they kept dodging the question of "when do i actually get paid?" which was a big turnoff for me.

 

[Descartes]

I went to one of their silly meetings because a coworker of my friend kept begging him to go. When I got there I was immediately hit with what felt like an almost cult-like atmosphere. It was a bunch of very young rough looking people in ill-fitting suits trying to tell me why it was so great. This is what I took from it:

1) "We're a subsidiary of Citi so it has to be good!"
2) "If that doesn't convince you, look at my house!"
3) "We're helping people out and making a lot of money. Who wouldn't want to do that!"

It was a course in rhetoric, fanaticism and poor logic. No wonder they take anyone that is willing to show up.

 

[Nerva]

i almost worked for Primerica in one of my internships. back then I thought they were credible because they are a part of citigroup, but they are just a bunch of liars.

 

[SKORPI0]

Rip-off Report

 

[TG2]

I laugh when I drive by one of there offices in town, old friend I used to work with, lost alot of money with them due to some 'fees' that he had to pay each month, total BS !

 

[CptObvious]

i guess it could be a legit business, if you don't mind being essentially an avon lady selling insurance and cold calling all your friends and family...

 

[DainBramaged]

As Iron Maiden put it..."Run for the hillllllllllllllllllls...."

 

[Cal166]

I have one friend who did it for like two years, she actually put that crap on her Resume!

She is a smart girl too, I was very surprise when I saw her resume.

I see pictures of a lot of them all dressed up and looking professional....

 

[chocobaR]

Haha I knew this thing was a big retarded scam. Time to laugh at the bastard.

 

[Cdubneeddeal]

My parents did this for years before it was Primerica, A.L. Williams. They actually made good money doing it. We had a three story home in Danville CA with a pool and three acres, parents had their own building from which did their business out of. It's a pyramid type business but if you have a wide network of friends, it can really benefit you.

Never though I would hear of Primerica again

 

[YetioDoom]

I got suckered into an "interview" which turned out to be a sales pitch / recruitment for some multi-level marketing company. Like others have described, it was poorly dressed people talking about all the money they make and ridiculous stuff they have. There are some fascinating websites out there of people telling their horrible experiences.

Edit:

Merchants of Deception is a free E-book of "an insider's look at the worldwide, systematic conspiracy of lies that is Amway/Quixtar and their motivational organization"

If you have some free time, I highly suggest reading it.

 

[mugs]

They wasted my time a couple of years ago... I can't believe Citigroup lets them exist.