Wow, I have an interview set for this Tuesday, needless to say I will not be going to it! BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Thanks to all for the above info. I sign some kind of agreement that she mysteriously summarizes for me instead of letting me read. There are two levels of people in the business, not infinite levels. Obviously the other side of this coin is that reps/and recruits dont benefit, and dont find enough value to stay. People keep saying Primerica is MLM because it IS an MLM. I right there thought this guy is nuts, I do marketing and sale support, never manged anyone in my life, did he really read my resume? With currently over 90,000 representatives, Primerica may have reached that point. Just thought I would share my very recent experience and thank you to the author of this blog for posting this, otherwise I may have been suckered into an interview but then again, I dont typically work or have any experience in the financial industry and tend to stay far away as it is for positions like this or anything to do with insurance etc.
What Is A Pyramid Scheme? - Forbes Advisor I still plan on going to the interview, knowing full well that it is a scam. This may be the part where it comes together to the point where people say they hire anyone. ..so i asked her if its such a legit company why do I have to pay for my background check and why is there so much secrecy and then sign of primerica is most outside. Then she laid it on the table: I needed to go out and start recruiting. I do wonder if some above posters simply arent aware of either the licensure fees part of several industries and/or of the time and effort required to build a client base in any commissioned sales position? Primericas main financial advice is the slogan By term and invest the difference which means figure out what a whole life policy will cost you, buy a term life policy, and invest the balance of what you would have paid for whole life into mutual funds. I just advise that people dont get that education from Primerica or any other MLM. I received a call today from a Primerica Representative about a management/ training job. I am glad that I came across this blog because rather than wasting my day off from running errands and spending time with my children, I wouldve been sitting in a UNPRODUCTIVE and pointless interview just to GATHER INFORMATION that should have already been provided to me.
The TRUTH About Primerica - Scam Or Legit? - Duford Insurance Group The money received from the new recruits is used to pay off the . I will not be following up with PFS. Suddenly it occurred to me, who knows what that really means in context. How what they do helps people. The agent was a very nice Italian-American woman who actually knew something about financial services. She assured me, as the regional vice president of the Dayton area, she is looking to agressively expand her reach and will be opening up 5 new offices in the next 2 years, so she needs all the help she can get. At that point in time I had nearly 20 years in electronics and put out many resumes looking for TECHNICAL positions. This is a multi-location business. 1. transfer job locations to my home time and end up getting paid a little more + be with all my family + be happier. I dont see any suggestion there that newbies may expect six-figure earnings? I ALWAYS check out a company before interviewing so after reading the above information, I gracefully declined the interview. Then he started talking about me bringing in names of people to add to my team for my business. He told me that I would make more money by bringing in people. But upon going there I saw a completely different picture. Her husband, a mechanic, got invited to a big fancy house and had dinner there. I told him I may know a few but what roles does it involve, what type of work, is there anywhere I can view more information? They saw my FB updates about needing a little more income to start some entrepreneurial type things I was interested in. I knew to avoid them but because of how fast she mumbled the name i didnt research. They went through my Finances and sorted them all out and gave me a plan to pay everything off in a pretty cool schedule/plan. She asked if I wanted change of career. Primerica is a SCAM period. When I stated that this was just short of a pyramid scheme and that my last interview with the company (5 years ago) resulted in someone wanting me to buy over $100 worth of licenses, they had nothing to say. Later I learned that they do whatever it takes to lure someone out, then rely on the hyped-up emotions stirred up by the Opportunity Night presentation to get them to sign the agreement and pay to join. You wouldn't want to associate yourself with them, especially when fully aware. And where, exactly, are you going to file that complaint? You would think that this would be BEYOND retirement for people who are setting themselves up with residual income. I got a call around noon from a company called PFS Investments. I replied BJs (actual restaurant thats very good). He said well if someone were to tell you i can supply you with all the equipment to cook, but you would have to build your own client tale it wouldnt do to well right off the bat right? i said agreed then he replied well thats what i can help you with. Come to find out the husband was the one who was really pushing me to join the business after I had TOLD them I wasnt interested in anything besides getting my finances together and I would contact them if I wanted to buy insurance or whatever. The so called VP is there and questions were asked and at some point, the so called VP (he looks like James Ingram) said that I need to pay $99 for my financial license to be able to get the job. Like many before me, I too received a call by a young woman, Jasmine, stating that my number was forwarded as someone ambitious and hard working, seeking employment. So how did my interview go? Finally he had a female associate call from a different number who told me I had been referred to her as a candidate from the man who approached me at Target. Would people join if you were 100% truthful to them? Real estate agents and brokers are not in the business of recruiting. Would they use it if I dont show back up? Oh, and I will be getting a term life-insurance policy, just not through Primerica as they do not show up on anyones top ten list of term life insurers. It is a shame that there are companies out there who still make money off these scams. Something about more information.. John said, crisply, Im offering an interview, thats the first step in the process. I was wearing a ring on my fourth finger (its the only finger it fits) and she asked if my husband had a job, so I went along with it and said yes. Destroyed my friendships with this job. It is a scam in which almost everyone loses money. You have to be deceptive to your warm market (family, friends, and contacts). I was a little suspicious, and thought it was strange he didnt tell me the name of the company, so I asked him. So I got a call from the so called vice president of the company, mentioned they were seeking to hire many individuals due to expansion. Ive very good internet skills. I said Ill give you 10 mints & w/big smile he say thank you & went back to the rm. We need educate general public ! He never mentioned the name of his company, only that he was impressed and wanted to figure out if I was a good fit the sort of leading language Ive seen others report thats meant to make you feel desired and special. I received a call earlier from a rep, or whatever. They contact the job seekers with an offer of an interview for an opening. 4.) So, after leaving them I channeled all of that energy 110% into my own venture. John breezed through the door and introduced himself then instructed the man to sit down for a few moments; hed be right with him. In order to be on the NYSE, you have to be vetted. I may have broken his fingers and I shook his hand He started his presentation about the company, asking us how much wed like to make. He had pulled out a 4-6 page brochure that explained why everyone needs their services. For only $99 you can be licensed to sell insurance to others with us. But again, Im still chewing on this and your thoughts on these matters are appreciated. I didnt have time to listen to the whole message at first and wanted to Google the company before I returned his 1 and a half minute message. A full 84% left prior to obtaining their insurance license. I told her I was looking for a salary based job opportunity and if she couldnt offer that, then I was cancelling the interview because her job offer didnt fit my current needs or interest. We sell legit insurance, that either you already have, or might need at a price that is same or lower, with same or better customer service. I never identified the gender of my child (which is a boy, by the way). THe credit check should be about $30. She had a nice dark tan and spiky hair with maroon tips and very pale yellow roots. The people who give up on this business dont understand the potential of having your own business and life. He said no and proceed setting an appointment for me. (Thanks to all post-ers). What should I be doing? Therefore, before joining Primerica, you might pose and ask yourself if it is a pyramid scheme. Thank you for the honest comments, saved me time and money. I figured that was the end of it, but she kept calling for a week after. But a million questions arose when hed finished describing what it was he did, as he never quite cut to the chase of what Id be doing for the company. Thanks everyone for your stories. My advice would be to at lease go in for the fake interview, gather informatican about the company for yourself, then decide if its for you or not. As for the Author she seems to have ulterior motives and a chip on her shoulder regarding the company. So glad I did. Also they said they would need to talk to my parents, remember Im a student in school so maybe it might of been valid for parental consent, but to me this was bit fishy as this may have been a way for them to start getting business off me. I tried to be professional and somewhat upbeat but also clear I despised working there. It was a sales job selling the best cutlery ever but in fact it wasnt. Multi-level marketing is not entrepreneurship. She wants me to go but ive been down the MLM road before and after a couple months I knew it wasnt real. Once he started pitching me it was all very clear why. And this place is playing with peoples hope?! I had heard him talk many times about the cars and houses that the top leaders in the company owned, and had asked him when he was going to get the viper posted on his wall. Do I just block them and never contact them again? Im on vacation. I totally see it now.
Pyramid Schemes - FindLaw I do work very very hard. The man who was telling me about the opportunity was upfront, and I kill myself working two jobs. He gave me the address and phone number and told me to dress up (why wouldnt I, its an interview for crying out loud). A man named Jack has recently added me on Facebook, first thing I check for with people I dont know adding me is their friends list, their About section and the consistency and validity of their posts to make sure theyre real and not some spam account. So once I read that it was an Insurance Company I immediately knew it wasnt for me. I assume there was a bathroom off the other direction, but I never saw it. We were all in this rinkadink room, looks like they rented and tried to make it look professional but it looks rushed and had meaningless awards on the walls. However, the options you'll be presented with are dependent on your age. She asked me the most useless questions ever, such as, How do you want to be treated if you work here? She was also unable to give me specific details about the position I was interviewing for. Our conversation goes all over the place. I asked who the person was that referred me and the lady laughed and then said a name, and i did know someone named that but i hadnt talked to him in a year. PRIMERICA has changed their lives. There is no rational benefit to buying insurance or mutual funds from Primerica today. I, pretended was interested, really put on an academy award performance. I told him I work 3rd shift and that I can try. Jeb The reason why they dont give you any information prior to the fake interview is because IT IS A SCAM. and is refundable but most people dont know that, You can get your own credit check and if not hired, you can get a refund. New recruits today have to work much harder than recruits of 10 years ago to be successful and you have to be willing to push right to the limit of your ethical convictions to do it and the lines can get pretty blurred.
8 of the most notorious Ponzi schemes in US history I reluctantly agreed and was hired I went home that day and looked for primerica on the Internet and at how it is a scam. Products: Healthcare, Daily Lifestyle, And Nutrition Value-Based Products; Investment: To get started with Herbalife distributor, you'll need to purchase a starter kit worth $94.10 Commission: 15% to 50% of each product you sell. I also heard the leadership bit. About 20 minutes later I received a phone at my job stating his name was David. I eventually gave in and asked for her business card, she told me she had left it in her office. Thank you, I texted her your web blog and stated I WILL NOT BE SHOWING UP. She never called me back or contacted me again. This series focuses on good old road trips.
Pyramid Schemes | Investor.gov Primerica provides term life insurance at a price that's quite affordable to most families. After realizing her main focus was getting recruits I began to question this whole Primerica thing.
Primerica, Inc. | Better Business Bureau Profile I seem to have ulterior motives? Tameka Bell, How did they make you feel captive? The building that the interview took place at was unmarked on the outside and rather desolate on the inside, and it was situated next to a masonry business past the outskirts of the nearest town, of all things. I will say that the highest ranking person I worked with has now been involved with the company for over 30 years. What should I do? Thank you for participating. A person with certain negatives in their background cannot work in the industry. The whole conversation was geared towards selling me on deceptively common-sense information about what I assume to be much more complex financial decisions I have a friend who works for an insurance company, and given how much time hes spent studying for his degrees the claim that, in a few months and for $99, I could sell my friends and family (and then random strangers after that) on insurance was certainly too good to be true. Another flyer announces two meetings. She said they were just getting established here. As far as heightened prices if this is the case how is it that their clients save money on the services? They would contract with these companies to offer customized plans that are not offered if you the customer dont go through Primerica first. So then i asked him thru Facebook and he said no and now im here and im so glad i am. Nobody in our company will stop you from being great and doing great things for people. Its quite pathetic that all of us in the comments are forced to search out information on the web rather than hear it straight from the snakes that work for this company. Like, if someone asked a question that would be fairly customary in the real world, he really would let off on them with something snippy like well, I dont know what youre worth yet. Sooooo after reading all the comments, I will NOT be going. Its EXACTLY as described. Primerica, Inc. is a financial services company serving the middle-income market offering term life insurance and strategy for investments. He has dedicated his most productive working years to a system that will never be able to deliver what it promised. etc. Primerica is a financial services company that states it's mission is to help underserved communities gain access to top level investment and insurance products.. Her daughter has had rough luck a failed cornea transplant has left her half blind. I am a single mother of two kids and I have only been getting one day off from work. How likely is it that they can manage to fool all 50 of them?
life insurance pyramid scheme companies WHY DIDNT I GOOGLE IT??? Question you investigate insurance fraud correct? That is my goal. I worked HARD at the business, I have had success in other businesses in my life but making money at Primerica is a joke. I must have looked confused because he said as he dialed, people are more likely to answer an unknown number than if they see the name. I was shocked I thought we werent doing anything wrong? In the classic "pyramid" scheme, participants attempt to make money solely by recruiting new participants, usually where: The promoter promises a high return in a short period of time; No genuine product or service is actually sold; and The primary emphasis is on recruiting new participants. As cool as this possibility sounded, it just seemed way off, I had many red flags that popped up and wanted to inquire on them, one of which I did, but figured Id investigate a bit first. So there really wasnt an option for riders. At worst it means you have a poor product or poor reputation which is most likely deserved. If it sounds too good to be true, mostly it is..Thank you again for posting! It was in that meeting yesterdayand only after I mentioned that I had once considered working for Primericathat my agent invited my husband and me to attend this upcoming information event. Ill text the woman tomorrow to cancel since she made it clear that she had her phone on 24/7. Sell any and all medications over the world. Very very glad I read this. I dont mind. The answer, I am CERTAIN, is NO! Ex boss is close with a bunch of guys who are all at Primerica around here. then I came across this site and read some comments . I was also approached at a mall with the same story. OK if that is the case then why are you driving a 1995 Toyota Civic AND why does your wife work FT AND he also had a PT job at GEICO!!!! Anyone who lasts with them is a masochist. He asked me for my number so that he may call me later, I provided it, and then after he decided to instead just ask me to come see him tomorrow. Im still researching the fact, yet still smell pyramid. Im sure there will be many people who wont spend time to do the research before going but at least those who do will stay away from loosing time an money on some crooks. There are 125,000+ representatives so its safe to assume there are some bad apples. I am bewildered that a casual lunch chat turned into an application, job interview, explanation of the job (in that order), and finally my being hired. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. Keep them going with promises of big fat contact lists. Anyway so disrespectful will not be going tomorrow and glad my parents raised me the way thy did because I couldve signed my life away. To those who have met up with someone who promised to help them financially, the supervisor was there to help you if the rep quit because, as I said, this takes work and if you cant stand the heat you need to stay out of the kitchen. It came off exactly as I anticipated, money, money, money, completely scripted and complete with props and pictures. It would be too painful to add up all the hours, dollars, and gas I had so far invested into this business. Nevermind they had all tacky, cheap, white trash decor. Pyramids are illegal and would NOT be listed on the NYSE. The receptionist and her shared a vague facial resemblance. I noticed other people my age, mid-20s, walking into the office fronts around my destination. He made me give him my SOC over a zoom call, he was filling out an application for ME! I made a decent living $30,000, but its much harder than most people even imagine and it truly does require that you do oodles of prospecting. Yes, the fake interviews have occurred. So I asked if she had a website to see the company information and she said it wasnt set up yet. Well her assistant texted me the address and I like to research things so I researched it and the first result linked to a Primerica site with that address on it. if i clock out, it doesnt matter, they need help. I was just contacted by one of these clowns and told based on my god given gifts I would be perfect for this opportunity. I was VERY unhappy in my job and I had been actively looking. I went to the orientation before with Primerica and discovered that it was a MLM. Stupid questions.. If you never got paid for telling people, would you still tell people about it?
Multi-Level Marketing Businesses and Pyramid Schemes | Consumer Advice One person wrote that she heard people cheering YES we do that because we support the people who are working and we give accolades to them. never said what I would be doing . Now I was really confused. You would be an independent contractor, so they dont care what your age or appearance is. Still, no alarms. This business is in a unmarked building near a woods, although that was scary enough I reasearched and found this. Over the weekend my family and I went to the Disney store to get my daughter a present and as I was shopping with my daughter my husband sort of stayed behind with my son, my husband was standing over to the wall when a pair of ladies came over to him and started saying oh how sweet your daugther looks with the princess out fits and how she has 7 kids at home and yada yada, my husband was clearly uncomfortable since he did nothing to start the conversation, he started to walk over my way and they followed him towards me, the older lady asked me if I was working and I said no, im a stay at home mom she seem put off by my answer and then turned to my husband and asked him the same question, to which he answered Yes, Im a plumber she made a coment and dismissed the reply by saying that she had a better opportunity for him to make money. Im so glad I found this site. Why the need for secrecy? Tracy, I would be interested to hear any counsel you have for me, as I am planning to attend a Primerica information event for potential sales staffers 48 hours from now, BUT my circumstances differ from those of most posters above. MLM is not a job. After all of this fiasco, they have become very distant friends and I FINALLY own pretty successful and growing business now from my own hard work. I am so glad to have websites like these were people can learn a little more about what they may be getting themselves into. Is that really too much to ask for? So I bit and went to the interview. Another woman, in her mid to late 20s like me, walked in and was handed the same paperwork I had to fill out. I immediately searched the company and came across this page. I told him I usually work in the summer but this summer didnt work out so I started taking some summer courses. Red flag I had been waiting for. She had once had an office in an actual storefront on a mixed commercial/residential street in the neighborhood, but now ran her business with no outside marker out of her husbands auto body shop. I was fresh in college, and desperately looking for a big girl job. Amway is a well-known brand based in the United States that distributes health, beauty, and home care products through a network of independent business . 3. open up my own winery making cranberry wine. I thought Im supposed to be learning here? I guess I get to add to the list, I received a missed call, I dont check my messages usually and I typically just google the number and see what comes up and then once something pops up I call or dont call this time nothing came up so I called. http://www.cisro-ocra.com/publications/LLQP%20Provider%20Results%20(Jan-Dec%202014)%20EN.pdf, Anyone who can defend the morality of the scum who works and represents this company is just as bad. Please look up elizabeth warren cornering the president !!!
PFS Investments | Primerica Financial Services Suck my ass. He texted me the address (unprofessional) and me, being naive agreed. Im a chatty bend-your-ear kinda bartender, so as shes sipping her coke we start up a conversation. But for all of you out there who have fallen for this or maybe thinking about it, remember this, When a company asks you to pay for getting any piece of paper, fees, approaching you in odd places,etc., think before you leap, do your research for other companies selling the same product and see how it is or isnt done, then make up your own mind. Does How the Company Works Show a Pyramid Scheme? The whole thing seemed extremely odd to me that they would be interested in employing someone like myself who has zero experience in this field. In the end i never scheduled a follow up. Its ok Tracy we still love you.
The Pyramid Scheme Aspect of Primerica Financial Services I tell her I would like to do more of it. I just wanted to voice my opinion. The crazy part it that this PYRAMIDS are legal. Primerica just needs to do everyone a favor and be upfront about the type of business it is. A few of my friends got roped into this. Glad I didnt waste my time. She gave me vague details about the company. I just got snub because I was invited to a meeting while other try to tell/sell me how to get to the American Dream with Primerica doing good things for my neighbors and family etc. They get half the money of everyone below them. Im currently in the process of getting out of my tiered J-O-B and starting my own tiers separate and independent of my current J-O-B. Scum Bag Scammers! I drove out to the location, got there 15 minutes early, so I sat in my car. I felt anxiety throughout this whole calling session. A legitimate company looking for new employees is not going to waste more time calling a candidate who did not call them back, particularly considering they had no information on me or my job experience or training. During the call I asked her about three times for a website link or something to see if I would like working with her but she avoided giving me the website, I had to ask her about three times till she finally gave me something, and even that was just the name of the company. Yes many consumers arent sophisticated about insurance, which is why it can be easy for a Primerica rep to sell them a crappy product at a higher price. PFS Investments Inc Type: Mutual Fund Annual Costs: $129 Cost Details Average Expense Ratio: 1.09% Range Details Surrender Fees: None Commissions: Yes Roth Eligible Add to Compare Add to Favorites Set as My Product Enrollment and Questions Use the following contact information to enroll or ask questions. She starts explaining an elaborate scheme to sell insurance, basically, to poor people. I told her I was wary of making any appointments because I had no information on the company. Since it was scripted, I never got a chance to really speak about what my views are and what I look for in a position as well as my strengths. If your goal is endless chain recruiting, you are scum and you belong in a company like Primerica. A woman approached me and complimented me on my bag, asking me where I got it from. Hmmm, makes you rethink a few things. There are also barriers of entry ex: background check and licensing. He also stated I would be refunded once I completed a certain portion of the tests. They are lied to about the opportunity and I feel a responsibility to give consumers the information the MLM people will never tell them. And no-load mutual funds through Vanguard or Fidelity beat the high expense ratios and sales charges of the ones Primerica offers.