Experience with Primerica

[Oscar_C]

Ir's not a pyramid scheme in the strictest sense, as it has a product to offer. But I have some serious concerns regarding compensation and recruitment.

My instincts tell me to run.

My other problem is that my boss wants to join as well, but I'm not sure if he should. He's 70 years old and I feel that he'll be taken advantage of given his disposition.

[Neustache]

Not impressed....pushy salespeople.  My experience was that of a potential customer.  We didn't buy.

[Oscar_C]

Not impressed....pushy salespeople.  My experience was that of a potential customer.  We didn't buy.

I got that impression as well, but I don't know how to voice those concerns to my boss. He's very reasonable, so he'll understand my objections, but I have nothing concrete at the moment to voice. I wanted to speak to the administrative assistant (his daughter) regarding this, as well but she won;t be back for a while.

[Enphuego]

It's a Multi Level Marketing *cough*pyramind*cough* scheme.

http://www.sfgate.com/news/article/Meet-Primerica-The-Multi-Level-Marketing-Scheme-2539645.php#page-1

[jezter6]

From a "My dad got suckered into this crap" perspective -- run and run as fast as you can.

It's all a facade. You end up paying for everything out of your own pocket (because you're an "independent business") and rarely ever make back all that you have to put in. Between the initial background check, any personal business filing fees, licenses to sell insurance products, etc, etc ... it's ends up a big investment. They also are on the hard sell to get you to commit to monthly "tools and resources" packages for their websites so you keep putting in more and more money.

The first thing they do is get you to list 10 close friends and relatives, and then they get you to hammer the crap out of them to buy your stuff and your "mentor" or whatever they call it takes the commission...

You end up pestering everyone you know to buy the products, and then after the big sales pitch, give them the ol "you can join our MLM" sell.

Run and Run Fast!

[dycker1978]

From a "My dad got suckered into this crap" perspective -- run and run as fast as you can.

It's all a facade. You end up paying for everything out of your own pocket (because you're an "independent business") and rarely ever make back all that you have to put in. Between the initial background check, any personal business filing fees, licenses to sell insurance products, etc, etc ... it's ends up a big investment. They also are on the hard sell to get you to commit to monthly "tools and resources" packages for their websites so you keep putting in more and more money.

The first thing they do is get you to list 10 close friends and relatives, and then they get you to hammer the crap out of them to buy your stuff and your "mentor" or whatever they call it takes the commission...

You end up pestering everyone you know to buy the products, and then after the big sales pitch, give them the ol "you can join our MLM" sell.

Run and Run Fast!

I was a "rep" for quite some time in my pre MMM days.  It costs on average(here in Canada) about $100-150 a month to maintain your "rep" status.  I worked at it fairly seriously for about 6 months(probally 10-20 hours a week during that time) and when I did my books at the end, lost about $200. 

Oh yeah did I mention that them "recomend" that you buy their product, which is more expencive for the same term isurance, because why would someone buy from you if you didnt own it...

They will also pay you for you sale upfront(as soon as you make it) but as you are selling to people that have little to no finicial sense, they will cancel as soon as their first monthly payment is due, and then you get charged back the payment of the whole sale, as well as a 5% fee...  Cannot say this loud enough...


RUN!!!