primerica????

[MrSwiss 10+ year member]

It is indeed a pyramid scheme. You sell people term life insurance from their company. and you recruit others to do the same. the people you recruit, you make money from their sales, so its smarter to recruit a bunch of people than to go out and make sales on your own.

I dont think its a scam, just people find this idea taboo. They have been feautred in reputable business magazines, and are a subsidiary of citigroup.

But honestly, im so sick of my job right now, im willing to try something unorthodox atm.

 

[Flipx99 5,000+ posts]

While I do not think of it as an out and out scam....From all the readings and my understanding, they often sell products to customers they really don't need.

For instance, they tried to sell whole life insurance to my friend's church's youth group. They don't really need that type of insurance. If any insurance, they will need term life. How can a person go to a church to scam? When they sell that crap, they offer no alternative investment advice, these people aren't even trained in finance, they are trained to sell insurance to people who IMO don't need it.

 

[Slammed 5,000+ posts]

primerica kinda reminds me of jehova witnesses...dunno why

 

[wj94 10+ year member]

Primerica is a joke amongst the industry. Don't fall for it. If that's what you want to get into, find a reputable company with an A+ financial rating.

 

[filtor1 10+ year member]

It is indeed a pyramid scheme. You sell people term life insurance from their company. and you recruit others to do the same. the people you recruit, you make money from their sales, so its smarter to recruit a bunch of people than to go out and make sales on your own.
I dont think its a scam, just people find this idea taboo. They have been feautred in reputable business magazines, and are a subsidiary of citigroup.

But honestly, im so sick of my job right now, im willing to try something unorthodox atm.

I suppose I will try this one more time. PYRAMID SCHEMES AR ILLEGAL IN THE U.S. At least call it what it is. I also think the SEC would have something to say about it if it were a scam.

I never recruited anyone and still made lots of cash. If you go to any other life insurance company it is structured very similar. Get licenses, get leads, build a team, make more money. The pay scale increases as you produce more sales and build your team. It is very simple. A typical sales/teambuilding based profit model.

It also involves a lot more than term life. You can do mortgages, and securities after you get your licenses. This would increase your ability to gain income and increase leads.

 

[audioarsonal 10+ year member]

I had a guy that represented Primerica in one of my buildings.The dude didn't pay rent for 4 months and always was running people through there!Had a big issue with security, said he couldn't have anyone in his office unless he was present.Not even the cleaners.Finialy tossed his a$$!

 

[filtor1 10+ year member]

While I do not think of it as an out and out scam....From all the readings and my understanding, they often sell products to customers they really don't need.
For instance, they tried to sell whole life insurance to my friend's church's youth group. They don't really need that type of insurance. If any insurance, they will need term life. How can a person go to a church to scam? When they sell that crap, they offer no alternative investment advice, these people aren't even trained in finance, they are trained to sell insurance to people who IMO don't need it.

I see you have never been in sales. Up selling is a widely used method of increasing your revenue. If you want to argue selling things to people they don't really need, you can apply that to almost all retail, including car audio and anything to do with car audio, and is honestly a weak argument. I find this funny coming from someone who finds it hard to do the right thing, posts about it, then has people reference another thread where it was easy for you to take advantage of someone else.

For instance, "they" don't even sell whole life. Not sure where you got the information from, but it is wrong. If someone tried to sell your friends church whole life, it was a different company. I agree with you if you think that whole life is not the economically sound way to purchase insurance in most cases. And to top it all off, you bring back up the "need" argument. Do you think about things at all before you post?

 

[filtor1 10+ year member]

primerica kinda reminds me of jehova witnesses...dunno why

Hahahahahahaha, //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif best post yet!

 

[filtor1 10+ year member]

I had a guy that represented Primerica in one of my buildings.The dude didn't pay rent for 4 months and always was running people through there!Had a big issue with security, said he couldn't have anyone in his office unless he was present.Not even the cleaners.Finialy tossed his a$$!

Sounds like a grade A douchebag. People will always be the unknown factor in business. People flip out, change, and do stupid things for no reason. Another reason I left. Every thinks they know everything there is about life while simultaneously ******* at it. Some people can put on a good show in front of clients, but when left to their own devices go home and beat their wives. This is a societal issue in my opinion, not an issue with the company.

 

[audioarsonal 10+ year member]

Sounds like the company needs to do a more stringent background checks rather then just hiring in mass group get-togethers.

 

[dragnix 5,000+ posts]

Sounds like the company needs to do a more stringent background checks rather then just hiring in mass group get-togethers.

that's how they make their money

 

[filtor1 10+ year member]

Primerica is a joke amongst the industry. Don't fall for it. If that's what you want to get into, find a reputable company with an A+ financial rating.

AM Best has assigned Primerica with an A+ rating. Good try though.

I had a very good friend work for Mutual of Omaha and another for Prudential Life. Both saw the potential in each company respectively. Both did very well in sales. Both built great teams. One "supposedly" got charged back for more than he even sold from Mutual. He left and still had to pay them this fictitious amount or they would sue. Is Mutual a joke too? I think so. The other worked for Prudential and ended up having to serve in Iraq. The company saved his seat and guaranteed him a job when he got back. He came back to find someone else had "acquired" his team and he would have to build it back up, which took him 2 years the first time, to survive. The team was "acquired" by his boss btw. I would put them in the joke category as well.

Mutual of Omaha has an A+ rating.

Prudential has an A++ rating.

IMO they handled both situations poorly. Yet they are both highly regarded in the industry. I am willing to bet they are only called the industry joke because they are taking so many sales from the other more established companies. Typical politics. Name calling at its best. I suppose if it worked well in elementary school, it will work well in business.

I will let their financial performance do the talking. Not some butt hurt whole life companies sales staff.

 

[filtor1 10+ year member]

Sounds like the company needs to do a more stringent background checks rather then just hiring in mass group get-togethers.

I agree. They use the law of large numbers to get as many people as possible. Some work out, others don't. Even the bad ones bring leads though, so from a sales perspective, it is a win in the end.

The group get togethers are merely a way to save time. You can explain the structure once to 12 people in 1hr or 12 people in 12 hrs. I pick door number one.

 

[filtor1 10+ year member]

that's how they make their money

No money is made during the meetings. I assure you of that. Money is made when product is sold.

 

[wj94 10+ year member]

AM Best has assigned Primerica with an A+ rating. Good try though.
I had a very good friend work for Mutual of Omaha and another for Prudential Life. Both saw the potential in each company respectively. Both did very well in sales. Both built great teams. One "supposedly" got charged back for more than he even sold from Mutual. He left and still had to pay them this fictitious amount or they would sue. Is Mutual a joke too? I think so. The other worked for Prudential and ended up having to serve in Iraq. The company saved his seat and guaranteed him a job when he got back. He came back to find someone else had "acquired" his team and he would have to build it back up, which took him 2 years the first time, to survive. The team was "acquired" by his boss btw. I would put them in the joke category as well.

Mutual of Omaha has an A+ rating.

Prudential has an A++ rating.

IMO they handled both situations poorly. Yet they are both highly regarded in the industry. I am willing to bet they are only called the industry joke because they are taking so many sales from the other more established companies. Typical politics. Name calling at its best. I suppose if it worked well in elementary school, it will work well in business.

I will let their financial performance do the talking. Not some butt hurt whole life companies sales staff.

I said a good company with an A+ rating, not just a company with an A+ rating. Primerica is a joke because their salesman are known to put square pegs in round holes and sell people products that don't suit their needs. You want to HELP your customers, not just sell them something to make extra money for yourself. As the old saying goes, you can sheer a sheep many times, but you can only skin him once.