I have just been called by a lady in Puerto Rico to show up for an interview for a job in Primerica. I received a call today for just such an interview in West Chester, Ohio tomorrow. And by the way in MLM you dont own a business. You have a contract under which youre permitted to shill for the MLM. Basically, i refer 3 people and make $700. Lawsuit Against Expert Witness Highlights Issue of Conflicts of Interest, Jackie What an interesting comment! Being very analytical, I would have not had a good interview with another manager in a different company. I know I have to invest a whopping $99 to start my business, and another $25 a month for news and training. If the new guy lists a property himself, your husband wont be getting part of that commission. He added that the goal for all individuals is $1 million before retirement. Well I actually went and talked to someone of those guys in the company but at the beggining I thought this would be fake because I ask one of them about the website and he started talking me about the money Id make and he didnt gave me anything but to be honest nobody have to pay to be hired.. Dont believe in Primerica. Important Mutual Fund Disclosures He didnt even tell me the company name, I found it on his profile when I scoped him when he requested to add me, that he was a regional vice president for Primerica. Our entire crusade is to teach people how money works we want to educate the clients so they dont get fooled by people like Citi we broke away from Citi when they were doing the wrong thing Primerica works from the highest ethical standards. The Top 25 MLMs by Revenue | TitleMax insurance MLM firm Primerica is a legitimate and long-established company. I was left dumbfounded by all these comments. I also heard the leadership bit. Primerica IS A PYRAMID. What a crappy thing to give your life to. I actually had to call my friend to ask what the position was and he said its something to do with sales.. It's a fucking scam. All in all, the research done prior to the interview was useful as some claims from the internet with regards to fake interviews were true. During that same time period, 243,167 of their licensed reps also left the opportunity. Second, it was I who contacted my Primerica agent recently, not the other way around, to inquire on an IRA rollover for my husband. Those are games we leave for the devil. She told us that most people in the company are able to make 6-figure incomes, but thats a good thing, since they help people get out of debt and become financially independent. I realized what it was after that meeting immediately. She set up an interview for me tomorrow and told me to dress in business attire. Brokerage Firm Regulated by FINRA (Atlanta district office) IA. I fill out an application. My only piece of advise. Something was definitely off. I noticed $99 needs to be paid. I still like her, she seems nice. * If Primerica is a scam, how have they been in business for almost 40 years? The bottom line is that Primerica sells legitimate products and services (life insurance and investments), but sells them at inflated prices to generally unsophisticated consumers. I was approached by a husband and wife in a Neighborhood WalMart store. Peace and blessings to you. He wasnt really giving me a clear description of the job, but I still heard him out. I reminded her I was not there for a financial health check, but rather for a job pertaining to repairing computers NOT a door-to-door 3rd-party insurance salesman. well I looked up pfs investments I didn`t see the address she had given me .then I looked up names I didn`t see her name under agents or anything . I walked in and saw chairs set up like there was going to be a lecture. Its entrepreneurial in nature and that needs to be discussed and made clear. Laws have been put in place to prevent this flawed business scheme . I called her back to be polite but she didnt answer. As it turns out, I am a lapsed Catholic and an Atheist, but I still wear a silver communion cross so she may have been taking a stab. Thats an MLM just you stay broke. And he said the clients love him and are so thankful that he gets invited to birthday partys and what not like ummmm ok I dont care. Wow thanks I have interview Monday but I will canceled. why are they still in business? We will see. Thanks for all the information. I was in college when they reached out to me about coming there to work. Got an e-mail (I use that term lightly, he had a hotmail address) from someone saying my resume had been passed on to him. And this made me laugh what he said next. MLM, in contrast, is a scam based on the recruitment of people into an opportunity to recruit others its endless chain recruiting and thats a scam. Thats legit, and I drafted up a Letter of Resignation, which included the language This is without malice. I didnt have the heart to tell the agent why I quit, something I regret to this day. I ask for the companys name and he said Primamerica. She never called me back or contacted me again. Reading this gave me something to do for a little while this morning and appreciate the honesty. But he had no idea who. Hence, the dance around questions began. I remembered now, although I didnt pay attention then, how defensive he had gotten as he told me he was too wise to throw away money on a car. Just went to one of these sad displays lst night got dragged in by a friend. 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. Income is limited and since they, were at a point in time, only selling term life, there whole pitch was buy term invest the rest, which is great considering their term to is age 99. They were in my home for almost 3 hours, 10 minutes before they left (which was an hour ago btw!!) 85% of people cannot pass insurance test. MLMs are legitimate but a prospectus or other similar vehicle should be required for prospective recruits just like a stock or mutual fund offering, identifying exactly what fees are involved and what is specifically required of the representative. Im scared for my friend but I want her to figure it out on her own so she can see what this really is. WOW. The business when presented me, gave me th opportunity to sell other things, like Legal Shield memberships. I informed him this job sounds just like the foolishness I mentioned above, and that I will continue to research the company before I consider whether Ill go to interview Friday which I highly doubt I will do thanks to this page! I dont mind. I also am one of the many that got called out of the blue for posting my resume online. Is Primerica a pyramid scheme? - Life Insurance Post Shove that $99 fee up your keester. Of course that is enticing. Needless to say, Im glad I got out of that one. Thanks to these comments I will not go. Person could not confirm how they got a copy of my resume, but asked that I bring my updated copy with me. Now of course I realize that I was probably the only one who wanted to learn. I received a call from Primerica just a few hours ago. But cancelled my credit but should i worry because of the other info that he has still since their a pyramid scheme. I got there 15 mins early they kept me waiting for 30 while having a buddy conversation. I have better things to do than waste my time being pitched for a scam that takes advantage of people who dont know better. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Then she talked about the opportunity to make money, but it was NEVER presented to me by her; or any of the other Primerica reps that it was any kind of a job interview. In fact, in a few months they are sending her to Atlantis. When this approach is adopted, the need for the original insured amount would not be necessary. The critical difference between network marketing and a pyramid scheme comes down to the products and services they offer. No rebuttal, just got off the phone. I got called on resume. 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? The main product Primerica offers is Term Life Insurance. wth. Get the BLEEP out my house before I rip our your weave!! I noticed several of the new people in the front row looked very restless, like they just wanted to get out of there. I started to feel a bit angry as I realized that John wasnt really interested in teaching me, he just wanted to get any recruits in that he could. It is a recruitment scheme. A common line youll hear from Primericans is that, at the very least, they will offer you an inexpensive way to learn about the financial industry. This sounded so eerily familiar to Primericas tactics and MO. Or something. 6. last and least. You have no honor in your name. I had a bad feeling so I googled the address. Lesson learned. im so agree i wonder how they got my info. SAVE YOUR LIFE- DONT JOIN PRIMERICA. She asked me a few questions about some displays and such before asking how I liked working there. At first I was impressed; but not so much now. When they first came I noticed his wife was wearing a dte coat, I asked jokingly what company is this opportunity with, Primerica or Dte? He just missed the Pyramid Gravy Train by a couple of levels. Just my two cents worth. What a joke. https://www.nasdaq.com/press-release/mary-kay-inc.-announces-awards-milestones-and-accomplishments-from-full-year-2022 Anyone quoting pink truth (aka themselves) like this attempted sub-feeder blog and the gm one, I agree! (Even then that is to be seen) They clearly have a lot of red flags, and I dont think businesses should be allowed to run like that. I already work full time. How in the world they got my resume in a snail mail environment is still a mystery. Primerica is regulated by the SEC and FINRA. Its not what you are told that is important, but rather what they arent telling you that really matters. Do you even know why you exist? I told her that I would tell my friends about it but she kept pestering ME to work for her. I quit altogether after 2 months because it was the most draining months of my life. Thirdly, in a real job I wouldnt be so terrified that the person would think its a scam and I wouldnt care if they came on board or not. I feel really bad for them. Surely it wouldnt matter in the end, as long as we get the recruit right? (TWO not even 50 years old yet!) The company has been in business since the late 70s and has steadily grown throughout the years. There are plenty of traditional types of jobs that do not require college but that pay much more than $10 to $15 per hour if the individual is willing to work hard to learn the job and move up. he never gave me the company name just the address and I thought it was a company I applied to on indeed but it wasnt as soon as I got there I seen on the door primerica then I turned around and went home my friend told me about them its like a pyramid scam they want you to put money into their business and promises you will make money. Not going to take offer with the tidbits from this site as well. If you believe the internet only posts the truth, you are dreaming! She went thru a 45 minute pitch for their pyramid scheme. Period. I showed up for the interview and no one knew who I was supposed to be speaking with. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. Life insurance is a service, and just like any other service, someone can come along and provide the same service for less money. What Is a Pyramid Scheme? How Does It Work? - Investopedia You cannot fail if you do the work. The 'Private Investment Club' conference had everything: a host demanding people pay for 'VIP' access, weird pyramid diagrams, "plerking," and a celebrity guest who clearly didn't read the memo. Really 99 dollars for a background check and then more money was asked to start and get your license. Thank you everybody. Pyramid Schemes | Investor.gov The second warning sign was she didnt have a business card, but rather took my phone number down on a notepad and advised her business partner would call me. Then he went even further to explain that he could help my parents lower their insurance, debt, and help me pay for my college textbooks. At the time I was desperate for anything that could get me more money. He finally emailed me back saying that 10 works great but I would be speaking with David because he was busy busy busy! 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. Even asking the guy flat-out wouldnt help, he was pretty slick and dodgy at answering direct, factual-type, questions. Primerica Review: Is Primerica a Pyramid Scheme? (2023) - Noni4all It became apparent to me that it was bogus the moment I walked into a completely empty office that looked more like they were about to move out. MLM or a Pyramid scheme.Primerica is a Pure Business opportunity, the . Ive seen people come in, get hyped up and quit their jobs, only to be screwed in a few months. Primerica doesnt look to good to be true. If you are looking to contact Primerica directly, call them at (800) 257-4725. I have a friend who just signed on with this company. Like the other RVPs were worse off for working with people who didnt have it. Call away, I figured. When I walked in Spanish music was playing and the office was empty even in the so called Vice Presidents office its was empty and had fake plaques and stuff every where. My interviewer did not have a copy of my resume. I worked HARD at the business, I have had success in other businesses in my life but making money at Primerica is a joke. One of them asked out of the blue, how i like my job. I stayed through the interview anyways, fully knowing that I was already going to reject the FAKE position they had, but wanted to keep my commitment to the interview,and see for myself what kind of tricks they would verbally try to pull off. To start making money and sign up as a Transamerica distributor you will need to pay a processing fee of $100 and to start recruiting new members you will need to pay another $300. Please look up elizabeth warren cornering the president !!! They didnt get my credit card info but they have my social security number and my other info. Any conclusions drawn by myself are opinions. Is Primerica Legit or a Pyramid Scheme? - Impact Marketer I literally have no experience in asset management, financial businesses or management positions. In an MLM, your upline gets a big cut of your commission. Question Whole life insurance is not fraudulent. I would try to ask the instructor questions about the topics and he would tell me not to ask questions just memorize the material and take the test. At this point, I had a chance to become aware of the atmosphere in this building. This is where it got a bit fishy. if i clock out, it doesnt matter, they need help. There have been plenty of examples of businesses that looked legitimate that were not. Blah blahI knew it was bs only because I have had encounters with companies like this when I was younger. This business is in an industry that may require professional licensing, bonding or registration. Once he started pitching me it was all very clear why. Im no longer-second guessing my decision to stay far away from this group. Reed Slatkin - $593 million. Reported to Primerica Legal. She gives me a look that says, You could very well be the son I never had! It seems like a con now. We have 40,000 new clients each month if you joined and didnt work, youre not one of the people who make money with us! Her choice of language, and orientation rather than an interview, and the location of it (nowhere downtown but rather in a rented space in the outskirts I mapped it out) caused me to beg off, using the excuse that the location was too far for me to attend. Action Affect! I answered and then asked what company he was calling from, something like Frontier Financial Industry and then he mentioned it was owned by Primerica and I immediately let him know that I was not interested. Three days ago, a pair of women came into my store to purchase some items. I told him I was talking summer courses and I really wasnt looking for work but I actually was (does that make sense?). I PAY MY OWN TAXES. At school when were prepping for interviews, recruiters ALWAYS want a resume. I hope she doesnt see this thread because she will get defensive about this company. The annuities and mutual funds are sold via a licensed dealer and broker called PFS Investments. I asked for a camp name twice she mumbled PCC really fast so i couldnt catch it. I do believe my guy calls with an unknown number. He told us the incredibly vague story of how he managed to get one individual from $20,000 in credit card debt down to zero and then into a mutual fund with a 9% interest rate. She gave me her number and asked to call claiming she was a hiring manager .. He made it seem like that was the main focus of the company. A very tan/slightly burnt, attractive young 20-something came in and spoke to the receptionist for a minute about her Florida trip and went to the back where I could now see more middle-schoolers, all dressed like they were ready to model for a Kohls back to school sale flyer. Regardless, I thought I was really starting the new year great but Im more relieved they taught us about pyramid schemes in high school. Another woman, in her mid to late 20s like me, walked in and was handed the same paperwork I had to fill out. They are lied to about the opportunity and I feel a responsibility to give consumers the information the MLM people will never tell them. I graduated from college last month and primerica does prey on with people who are unemployed. (Formerly pre-paid Legas Services, membership I have had for 16 years. Just needed to set up a time. i joined primerica, i drank the kool-Aid thank god i did!!!!! I didnt have to read much of this thread to decide that I am no longer going to the interview that I have scheduled for Tuesday. Yes, but for other areas, not recruiting. But even better, in a real insurance agency, the goa is to sell insurance. No amount of money could fill the hole that would leave in 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. A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products.As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal. Yes so would you call NYSE a scam? Im 21 and just recieved a called from them while at work stepping away from the front desk i answered to a guy who gave brief detail about everything your reading above smh not going! But you can throw away a full barrel of apples because a few are rotten. Joe get Sally a $800 annual premium, (depending on your team members rank)(entries are REPs 25%) Joe will earn 25% of 800 =200(ONLY ONE TIME,THIS ONE TIME), (PYRAMID TIME) the remaining flows up the tunnel 75% (depending my rank) REP 25%, $200. You pray upon my people and I think you suck. However, when I suggested that my previous experience would leave me worthy of positions like Business Analyst, I was informed that those positions were only available in the corporate office located in Georgia. Got a call from someone who said she was expanding her business in my state and is transferring from Texas and if I was interested in a business opportunity there. BBB is here to help. Their 6 digit earners boast is misleading as its a cumulative, not annual figure. 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. When I mentioned that it seems like a pyramid scheme the upline had a rebuttal for it immediately as they probably get hit with that comparison all the time. I dont see any suggestion there that newbies may expect six-figure earnings? He called me again and I ignored the call. Report investment scams by state-licensed companies to your state's securities administrator. He kept pushing What do I have to lose?? Not a fan of recruiters that will give great compliments, offer big promises with no details & make unemployed people pay 100.00 to get started. The guy I did the interview with was bragging about how much money people made and that turned me off even more. People have no consideration!!! another red flag when up in my head, majority of my friends held the same job for years so who the hell gave you my number? I would love to hear a Primerican respond, and dont use the cliche, not everone is right for Primerica, because that realistically just points the finger back at their recruiting department! Got a free dinner out of it, but I never did anything with it and didnt give them any money.