![]() The $199 is supposed to be used for a background check, and the Group 1 Life/Health Licensing process. In the month of February 2007, Primerica recruited 16,500 people at $199 a piece. I'm going to lay out some FACTS and hopefully these FACTS will ANSWER some QUESTIONS:ġ. So instead of detailing conversations and experiences I will do what no one at my base shop, and no person to ever attack or defend Primerica, has done. I could go on forever about my experience with Primerica. Using an MLM business model to sell financial services might draw some criticism, but so far, it has paid off well for Primerica. ![]() Representatives can earn either by selling various financial products and services like life insurance, mutual funds, variable annuities, segregated funds, loans, long-term care insurance and pre-paid legal services or by actively recruiting more representatives to do the same and get a commissions from their sales. Primerica Financial Services is a financial services company that is structured through the MLM business model. That's true, but that doesn't mean that Primerica is immune from abuse of representatives. They don't have inventory frontloading like MLMs that are product-based. If you can get a Primerica supporter to admit that the company is an MLM, the next argument is that it's not "bad" like other MLMs. Further details are available from Primerica Financial Services, Inc. The Company may from time to time modify, supplement or terminate any compensation program in any manner. RVPs are responsible for their own business expenses and pay for all office expenses for their base shop representatives. ![]() Commissions are subject to deferred compensation account withholding and applicable taxes. There is no guarantee that you will achieve any specific cash flow level. Actual gross cash flow is, among other factors, dependent upon actual organization size, the number of sales and the override spread on each sale, and the ability and efforts of you and your downlines. Personal Income: Primerica has more than 100,000 representatives. The company's website says (bold added by me): No matter how many times representatives of Primerica say that the company is not an MLM, that doesn't change the fact that it is. SubscribeĪ site called Pink Truth discusses how despite Primerica's claims it's not an MLM or pyramid scheme, it in fact, is: They don't care about anything else other than getting all many recruits as possible.Account icon An icon in the shape of a person's head and shoulders. Hopefully your mom doesn't get too deep and also realizes what type of business Primerica is. I told them to ignore the calls and I was so embarrassed that I fell for something like a pyramid scheme. I asked them to give me back the application that I just filled out and walked out.Ī few days went by and a few of the contacts that I had given called me asking what the heck Primerica was. At that point I finally realized what was going on. After I gave them some of my close family and friends contacts they said I'd need to pay $100 to continue into the training process. Still naive I filled out my application and they asked me to write down as many "references" as I could think of to get some training under my belt ASAP. Doing exactly what I was doing, that's how I'd be making money. Basically I would be "selling insurance" but the people who I sold insurance to would also be a part of my team. ![]() The recruiter started explaining how I was going to make money. This should have been a red flag on my part but I was young and naive. They immediately tried to recruit her also. I went in to do by application and my gf at the time came in also. The recruiter knew that if she said certain words like, "you make your own schedule" and "the people working for you are making you money" would hook me in. At the time I was working at a dead end big box store. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash.Private communication is not safe on Reddit. Scam alert: Ignore any private messages or chat requests.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |