I had met him before but never followed through. Is that really too much to ask for? You would think that this would be BEYOND retirement for people who are setting themselves up with residual income. I simply dont like scams. I understand everyone needs to make a buck. My girlfriend interrupts the lunch, I get the sandwich boxed. Coincidentally, that same company has had the worst passing rates, by far, of all insurance trainers in the entire country, for the last 10+ years; thanks for the honest comments I well be cancelling my interview tomorrow. His wife starts asking questions, social security number? So I booked an interview with him. 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. Google what youd like but do you really think Google, a company who makes money by sponsors is more accurate than the companies that investigate for the NYSE? He texted me his contact info after my ride and I noticed it said Primerica Inc. on it so I googled it to find out just exactly I was getting myself into. The critical difference between network marketing and a pyramid scheme comes down to the products and services they offer. 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? A phone call is more personal, and taking down someones number to give to ones own trainer is the model we use. 2018 Sequence Inc. All rights reserved. I am actually scheduled for an interview tomorrow which I intended to drive over 100 miles to. He texted me the address (unprofessional) and me, being naive agreed. The business when presented me, gave me th opportunity to sell other things, like Legal Shield memberships. 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. Amway. I was going to an interview tomorrow and now I know its just some bologna. The SEC found that PFS Investments Inc. had failed to have in place effective policies and procedures to follow up adequately on three complaints received about the Dearborn registered representatives, "selling away" activities. Now I have my 2-15 and Im not going to waste that on just Primerica products. They talk about these bad reviews during training, saying they are written by people who tried the opportunity and failed. So, if the concept of an MLM is to make money off of the effort of others, how is this different from a Real Estate Broker? Those are games we leave for the devil. THIS IS A BUSINESS, and youre too lazy to work for yourself or want to educate people on their finances. Now, the warning flags were popping up like crazy! Like I said, I own my own business and am looking for some sharp people to add to my team here. A pyramid scheme does not refer to the layers of management that you see. Her daughter has had rough luck a failed cornea transplant has left her half blind. What a waste of human DNA both of them ! If they call and set you for an interview, DONT DO IT!!! Another middle schooler came in and went directly to the back where the party was. Once reading all these reviews I called back my recruiter and asked for more details about the interview and he was vague. I took a few deep breaths and began to greet reps I knew as they began to enter for the Opportunity Night. Primerica multi-level marketing system offers the following advantages 1. MLM is not about work ethic. 6. last and least. I went in, shook some hands, and sat down listening to a spiel chock-full of confusing jargon, just nodding my head and feeding their ego while Im sure they felt like they were doing the same to me. I had them waste my time once before and am no longer interested in doing it again. I have a job, but looking for a change, I feel bad for people who are out of work and are honestly looking for a job! Thank you for providing this information! For instance, he said Whats your favorite restaurant? Known as a co-founder of EarthLink, the internet service provider that . Other insurance companies do the same thing but Primerica is ruthless. But It didnt make sense that I was not given the company name but did get a management position for something I know nothing about. Goodness gracious thank you for the comments, almost went to an interview. epipens, and or anything that a person needs to have to live and is stupid expensive. Theyre making money out of your stupidity. Thats why they havent been charged. He finally mentioned he was on the phone with primerica and he was conducting an interview now Very weird so I blocked evrythhng and said no sales. You get paid if you sell, and thats all they care about. I quit altogether after 2 months because it was the most draining months of my life. This is how Primerica works. Calling me rude, and saying other unprofessional things like LOL. Like, you might be able to trick them into showing up without knowing the company name, but then what? LOL Alex. no phone. For how many people were in this office suite, it seemed rather small At least the atmosphere was one of a party variety My interviewer asked me a few brief questions about myself, but seemed disinterested as I told her my work history and personal skill sets. In another spot on their website, they suggest that part-time agents may expect to earn about $500/mo (which is also $6000/yr). 90% failurethat is high percentwhere did you get that number? Hey guys I need some help I wish I saw this before the meeting but I just got home from it. Jeb- If you read most of these comments then you should already know that half of them was approached at their job like myself. Many thanks! Primerica's MO is using people to convert their acquaintances into customers. He asked if I have ever heard of Prime America (looking at this site at the same time) I said yes, he sounded surprised oh you have Yes I said. Ive never seen the number before and I typically do not answer unknown numbers but I still did to see who it was. I asked what company is this and how did they get my number considering the fact I havent applied for any job positions in almost a year. Tamara I have simple advice: Dont go. A lot of people here who are unapologetic in their refusal to show up to a meeting they said they would go to after doing research, coming down on agents about ethics. A company that tries to recruit through tinder is only going to do what tinder was originally intended for. I ask for the companys name and he said Primamerica. There was a Prime America in the office building I currently work in, and I cant tell you how many young, eager, looking people would pull up looking nervous right before their big job interview. February 27, 2023 alexandra bonefas scott No Comments . Primerica Compensation Plan How Much Does It Cost to Get Started on Primerica? I got referred to Primerica by a fellow friend of mine. I had been suckered before into going to an interview for what turned out to be a door-to-door sales job, so I was wary of this one. Primerica pushed me over the edge. Down below is a tiny non-referent asterisk that tells us to check their claims against the DISCLAIMER portion of the book. Of course, I find that it is a scam and a pyramid scheme. All I have to do is clock in whatever hours a week I want and watch thousands of dollars pour in. She went thru a 45 minute pitch for their pyramid scheme. Unusual, yes, a scam, no. Does How the Company Works Show a Pyramid Scheme? Some guy came up to me at the grocery store today and without provocation introduced himself and told me he worked helping people through financial services and teaching people what they should have been taught in school. We finally found David. Would rather wait for another job. I got suspicious and ask if this is an mlm company (I dont even know why, well, I know a lot about mlm companies from the past). After realizing her main focus was getting recruits I began to question this whole Primerica thing. I questioned it but thought oh well go for it. I have been invited to go to their local stoughton office for the meeting where i would be taught getting out of debt tactics while making $$; spoke about how his son was making 37k a month, his other son having a house built blah blah blah. Really 99 dollars for a background check and then more money was asked to start and get your license. When called at home, I got a vague assurance that I would be a good fit. Again, I figure worst case scenario its a connection. Theres so many good jobs out there- dont go this route. same here. not entrepreneurial Most all businesses fail, traditional or mlm. They WILL continue to call you even after you have said no. You have to be deceptive to your warm market (family, friends, and contacts). Recently a dear friend of mine got roped into becoming a rep on the premise of hed be doing families a great justice helping them get their finances in order and providing them with term life insurance. He proposed some vague idea to me one day and set up a visit to discuss. Suck my ass. i have an intervew tomorrow too, but i decided not to go after reading, thank you. Information regarding accounts at other fund companies may be found on those companies' websites. One day I am opening the bar where I work a dive bar in a very low income neighborhood. It must be weekly, I thought to myself, no way thats monthly? Those who participate have bought into the lie that they own their own business. This is a good money maker for Primerica and the finance industry in general- all on the backs of reps. Primerica is a SCAM period. After reading this, I will make sure to block the number so I dont get any calls through. At first I was questioning that, arent you supposed to use a business card? Was this review helpful? I retired from a 20 year career in the U.S. Air Force in 1993. peace out dawgs. Anyway so he was trying to down play my job and whatnot and get his point across talking about its a good opportunity, dont you want to make more money and yada yada yah. Thank you, I texted her your web blog and stated I WILL NOT BE SHOWING UP. 2. go back into the reserves, be a military tec. *69 doesnt block the outgoing number. The guy recruited me at the mall and all he gave me was the address, no description of the job, not the name of the company. Yes, education is important. I googled psfl darmouth (included in the e-mail) and the first link was primerica is a pyramid scheme/scam so that was enough for me. Why didnt I say, when he was at the bottom of page 1 that I didnt think it was the right fit and move on??? It is simply bait to make a [possibly desperate] job seeker to show up for a potential job that doesnt exist. I am, so I said yes. Primerica life insurance typically costs $20 to $50 per month for healthy individuals. Im not interested at all. Thanks for all the information. We sat, and I patiently listened to his presentation of How to be successful at selling insurance basically. 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 finally ended it telling her Im sorry but no and she said thank you and turned her back on me. Term Life Insurance 3. As someone who has worked for sales organizations for many years, I am really annoyed by the recruiting tactics of some of these folks who run MLM outfits. I just went to a meeting last night, everything previously written by past people are true. If they are MLM why have they been charged? The rep asked my questions, saw I am a good person who likes helping people, and told about Primericas business of helping people. The first presenter is very good. First off anyone can make a PowerPoint and the video was from fricking YouTube. He had a misdemeanor when he was younger and it affected him getting the position- so he said. He been calling me since. A pyramid scheme is usually an illicit activity in which recruiters urge participants to invest money with a promise of high returns. Like the other RVPs were worse off for working with people who didnt have it. Apparently these Primerica folk are misusing LinkedIn profiles for their slimy deeds. Once again, most people need financial help to get where they want to be. I was very interested in that. I dont remember the exact wording he used, but I do remember that he was vague enough to leave me feeling like he was offering work with a financial business. The conversation gets deep, takes philosophical turns. I dont want to be one that consciously rips off or gouges people. I swear it literally looked like an apartment building inside with rooms separated and a dark hallway. @Tracy Coenen take a look at your life seriously baby girl because youve been mislead all your life and its time to wake up for real. I must be remembering wrong I tuned back in just in time to hear him say, well, have you ever heard of Citi? then pause. what kind of car would you like to buy? When I started asking for e-mails and more information about the company. Average salary is 6K per year less than McDonalds. 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. Um And these were my thoughts. He wasnt really giving me a clear description of the job, but I still heard him out. John said no.. yet I knew that wasnt true. Pyramid scheme type set up. You are describing practices that are barred from current procedures, and the law. Its not what you are told that is important, but rather what they arent telling you that really matters. It is a one time commission, for the duration of that 10-20-30 year policy. I have reviewed their annual reports (available online). Primerica has the BEST products for the least amount of money in the industry! I got a random call on my cell phone from a Primerica Financial Services rep in Charlotte, N.C. Said his office manager was trolling the Internet for resumes and found mine. I have never worked in the financial industry before so I did not know what to expect. Then I asked about the $99 asked of you when you interview and he laughed and said are you on Google? I know I have to invest a whopping $99 to start my business, and another $25 a month for news and training. He acted surprised that I had not. I did find it funny though, because it was clear he was representing an MLM based on the fact that his business cards didnt have an actual company name, used a generic Vistaprint background, and listed him as a Financial Coach or something like that. 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. Fortunately, my paralysis didnt last long. She sits me down and asked If I knew who was PRIMERICA told her NO, then she told me its company who works with mutual company that sale insurances, help middle class people get out of debits teach them how to invest ect, The red flags popped up when she said they will pay for the classes so I can get the Life Insurance, said each class is $500 dollars you will only pay $140 that for background check, finger prints and utilities. If you have a 6, 63, and 7 series. He said there would be training and thats what my friend was getting into. 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. Thank you so much for sharing the information! You can get a reasonable life insurance plan as a AAA member and should deal with a real bank or well known investment firm with your money, people! In a legitimate insurance agency, there is a general agent with agents under him or her. DIV Rep, 60%.wait there is only 50% left over, okay then what does math tell us.you get it yet..they only get 50%, (PYRAMID ENDS). I just received a call yesterday and had my doubts about the process, so I immediately proceeded to research PFS and found this article. He spoke and I listened. So today I had a random phone call and I answered it only to find out it was a woman by the name of Jerica who said that Martha that I had met at my job referred me. And they didnt really seem to give a sh&* that I was cancelling. The address to the building was messaged after the call. Anyone who lasts with them is a masochist. I just got a call from them today 3:19pm 6/14/16 for a job interviewim ill and cant work right now and its sad to see this is still going on in 2016but im happy for this site to help spread the newsthe caller left a message i did not answer i looked them up and ended up here.thank you all for your helpful info! She stated the name of the company, Primerica and stated they deal in financial services . Need to find a different location? I got a call from somebody in Primerica named Curtis. The presenter looked like 19 years old and began talking about the company and that it was called primerica. 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? At school when were prepping for interviews, recruiters ALWAYS want a resume. At that point, I hung up and laughed. THANK YOU so much for posting this.. Should have gone with my gut. It wasnt until i read all the posts on this blog that i truly realized i was being bent over that corner desk of his because so much of it made sense. Sitting there listening, my mind went back to the phone call that him and I had, when my interview was booked. Pyramids are illegal and would NOT be listed on the NYSE. Thank you so much everyone for sharing your experiences. This is because the company uses a controversial multi-level marketing (MLM) strategy to sell its financial products, mutual funds, and life insurance policies through its agent's own personal relationships. Got a random call for an interview for a job as a trainer that I never applied to. Then a few weeks later, comes our leadership retreat. Weeks went by and I dismissed it completely, until I listened to this podcast: http://www.thisamericanlife.org/radio-archives/episode/543/wake-up-now So, I got up & left to find out who that company was. He called me the next day and I missed his call. At the time, the IRS called it one of the biggest Ponzi schemes it had ever investigated. 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. There is no rational benefit to buying insurance or mutual funds from Primerica today. I thought that was weird; if youre going around job recruiting at Target, you should probably have a business card. Harrison sounded very legit. The only way to collect on a life insurance policy is to live to be 100 years old, providing your policy goes out that far. None thats who! You say your husband someone to be in the office and is getting part of his earnings. You should be ashamed of yourself for writing an article as false and untrue as this one. Just before the session started I looked at the guest book and noticed that John had put his name beside most of the new guests, though 4 were a result of my resumes. Thanks for all these helpful comments and posts. And we are educated, if we werent, we wouldnt have had researched about primerica. Conversation went out and he tells me he likes my personality in which Ive been told many times over. After attending a couple of the information sessions myself. Because there is recruiting with so many levels, the distributor who sells the products receives much less money than if he or she sold similar services through a traditional insurance agency or investment company. Period. He called at 3:22 left a voicemail asking if I was having trouble finding the office. Suddenly it occurred to me, who knows what that really means in context. It has been at least 15 years. Surely a man that professional-looking would be deterred by someone as inexperienced as me in the room, I rationalized to myself. I thought its not that bad, I currently have another job working as an assistant to a real estate agency. Wow, I have an interview set for this Tuesday, needless to say I will not be going to it! Never missing a payment! At least then they can make informed decisions. Probably found out that my family is not exactly poor. Im scared after reading all this that i fell for this scam and now he has all my info. And thats why I have not fell prey to their scheme of getting people to recruit. to sit down with them to straighten their finances out. I dont mind. I am promised that PRIMERICA will essentially turn me into a hedge-fund manager for Charles Schwabb in time. She told me, I dont think of it as sales, but rather as helping people; dont you want to help people? I replied, yeah, by repairing computers, not by getting them to give me their money and expect unrealistic returns on their mutual funds! Well, dont you want to see what sort of assets you currently stand to retire with? No, came my reply, do you have a need for an IT guy or not? We need people from all walks of life! she reminded me. Generally in my experience, anything that seems too good to be true usually is. Primerica is a brokerage not a MLM. Thanks to all for the above info. I dismissed the thought as finally, after several minutes, John opened his door and beckoned the man in, intruding himself again. I wish i had read this before i went, wasted 20 bucks of gas to go, and was exacly has described, what a waste of my time, and i went all nicely dressed. So, I googled the companyand here I am. As a matter of policy, BBB does not endorse any product, service or business. What a joke. Humans are not numbers! Its entrepreneurial in nature and that needs to be discussed and made clear. So glad I read this blog almost got scammed. I had an interview yesterday, and went, mainly because I was contacted about a trainer position, not a sales agent position. Laws have been put in place to prevent this flawed business scheme . I then started doing research and stumbled across tons and tons of negatives about Primerica. 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 finished having a fake interview last night and was literally thinking about going to that informative session. People should learn to use critical thinking skills before jumping into something like this, as they prey upon your emotions and desperation. It feels horrible all the time to be with them I am sure. (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. But upon going there I saw a completely different picture. I also received a phone call from a guy who said had my name refered to him by someone. Plus who knew if they actually still earned that? Can be a plane, train or automobile. Possibility of excellent income. If anyone can reply below this with advice Id really appreciate it He also has my first middle and last name, DOB, email and phone number. needless to say I got undressed put on my gym clothes and went to the gym . Brokerage Firm Regulated by FINRA (Atlanta district office) IA. Sneaky how once she enters my house she runs downstairs and brings a male supposedly her manager. At the time my mind was elsewhere so about 10 minutes later I called her back and asked her what company she was with, who referred me and what position was I interviewing for. You cannot fail if you do the work. So sad. 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. Law sued and primeica paid millions of $ to keep it dl . It doesnt state that many on the list never again achieved those sales levels. I went 3 days ago and I had to give my info including social security number, but they didnt asked for a credit card. please dont look me up. There is certainly no shortage of dreamers and fools in the world. We talked a little about appliances and after everything was said and done they left. One from a news channel and some other random one. Even asking the guy flat-out wouldnt help, he was pretty slick and dodgy at answering direct, factual-type, questions. My ignorance had me traveling well over 30 miles one way. 5. We set up the interview within a week and Ive never had someone more eager and desperate to hire me. Like the Dread Pirate Roberts, Ive known far too many preachers to take them on their word alone. Once the new recruits, the professional-looking man and a scared-looking, awkward young guy who looked about 20 and was wearing ripped jeans and left on a bicycle, had left, John was photocopying the paperwork to put in the mailbag for tomorrow. Wow!! They had told me they work with middle-class Americans, ones making from 30,000 to 160,000, not people who were making anything over $250,000. The interview ended there. And where, exactly, are you going to file that complaint? I said ok and never went back. User Andromeda is obviously a recruiter that works for PRIMERICA. And he also lied and said that the manager at the store that night was meeting up with him also but come to find out she doesnt even know him let alone talked with him about the business he trying to recruit us for. Tracy you cant help others unless you help yourself first. As he hung up the phone I exhaled to release the tense feeling I felt, then realized I had been holding my breath for most of the call. Its about finding suckers who can be talked into signing up for the MLM. 1. transfer job locations to my home time and end up getting paid a little more + be with all my family + be happier. Both part time and full time. I mustve been approached bc I look like a mark. He says he has Series 6, 63 & 7 brokers licenses. He gave lots of the same info and elusive answers reported here. It isnt right how these companies take advantage of folks in need of employment. With all the information on the internet available to everyone, it is crazy to me that people do not at least look up the people and businesses they are considering getting involved in.