Anyone had any expierence with PRIMERICA?

[DTLB58]

They are currently recuriting me to be one of their independent reps to sell life insurance,help people get out of debt and save for retirement.

It cost $99 for the starter kit.

I have searched the internet and read good and bad, just wondering if any of you had any personal expirence working with or for them.

Thanks in advance.

[jjchieffan]

I worked for them for a while in Springfield. I believe they have a good plan. I was just working waaay to many hours at my day job to give it the time that I needed to.

[jjjayb]

Would you really trust a company that has agents who help people with financial planning with no financial planning experience. Just another type of Amway.

"well Mr. Jones. I see you want to retire by the time you're 60. As you can see here, you don't make enough money to do that. But if you join our company and help other people like I am helping you then you can afford to retire at 60".

:hmmm:

[jjchieffan]

Thats not an accurate statement. They sit down and do a financial needs analysis. They take the financial information that you give them, they take your goals, and they show you how to achieve that goal. I think is a solid program.

[ChiefaRoo]

As a general rule, any job where you have to pay a fee to go to work for them is probably not worth it.

[jjchieffan]

You are paying for the 16 hour course that prepares you for the test. After you pass the test, you get your license from the state. Its not like anybody in Primerica is getting that money. I let my license expire, but recently went to work for an insurance agency selling life, accident, and health. Since I didn't have a license, I paid $99 for a internet course to prepare me for the test. Same thing.

[Nzoner]

I agreed to let them come visit me a few years ago,they tried to convince me to consolidate all my bills and take the extra money and invest it with them.

When I told them I disagreed that I thought it would be wiser to get out of debt first and then invest they tried to convince me otherwise.

I'm no financial wizard but personally I'll stick with paying my bills as they are without lumping them altogether for a lower monthly payment.I mean it's still got to be paid eventually,why not sooner than later.

Just my .02,literally it's my 2 cents so I'll do it with it what I will.

[Ultra Peanut]

Thats not an accurate statement. They sit down and do a financial needs analysis. They take the financial information that you give them, they take your goals, and they show you how to achieve that goal. I think is a solid program.Someone got suuuuckered!

[dallaschiefsfan]

As jjchieffan already mentioned...you're not being fair to say it's only about recruiting the next guy. I have a great friend that has been with them for years, worked hard and its paid off. I know other guys that tried it for a few years and flopped.

Seriously...you have to be very committed to it, great at finding prospective business (friends and family run out fairly quick) and be a true believer in their business plan. I would suck at it...but my friend is awesome.

We go through my Primerica agent for my wife's life insurance, a money market fund I use for taxes/insurance on my house, education IRA's for our kids and finally...retirement. They have been a great company from my perspective of being a client only.

[jjchieffan]

That doesn't sound like the experience I had. The plan they put together for me put together a plan to pay off all my bills faster. They basically said to put extra money towards debt x until it is paid off, then apply that entire payment amount towards debt y until it is paid off, and so on until you are out of debt, THEN.. invest. They did start a small $25/ month IRA for me because I wanted to, but they certainly didn't push it on me.

[dallaschiefsfan]

I agreed to let them come visit me a few years ago,they tried to convince me to consolidate all my bills and take the extra money and invest it with them.

When I told them I disagreed that I thought it would be wiser to get out of debt first and then invest they tried to convince me otherwise.

I'm no financial wizard but personally I'll stick with paying my bills as they are without lumping them altogether for a lower monthly payment.I mean it's still got to be paid eventually,why not sooner than later.

Just my .02,literally it's my 2 cents so I'll do it with it what I will.

You're thinking would be correct...UNLESS...the interest rate on your consolidated loans was lower than the long-range interest-yield of the retirement accounts you are investing in. In that case, it would make more sense to keep the debt at a reduced interest rate while making more money with your discretionary income. It's a numbers game...and your solution isn't always the best for someone els.e The guy might have been giving you good advice based off of what he knew about interest rates.

[DenverChief]

You are paying for the 16 hour course that prepares you for the test. After you pass the test, you get your license from the state. Its not like anybody in Primerica is getting that money. I let my license expire, but recently went to work for an insurance agency selling life, accident, and health. Since I didn't have a license, I paid $99 for a internet course to prepare me for the test. Same thing.


2 words

Pyramid Scheme

[Nzoner]

and your solution isn't always the best for someone els.e

Agreed that's why I said it was just my 2 cents,I was in the process of building a business at that time and I had little to no extra money.

[dallaschiefsfan]

2 words

Pyramid Scheme

I've heard others say this before. There's only one problem. It isn't true. Quite simply, Primerica wouldn't exist if it were a true pyramid scheme. This is Business school 101 stuff.

[jjchieffan]

2 words

Pyramid Scheme

I don't think so.

[Kylo Ren]

They are currently recuriting me to be one of their independent reps to sell life insurance,help people get out of debt and save for retirement.

It cost $99 for the starter kit.

I have searched the internet and read good and bad, just wondering if any of you had any personal expirence working with or for them.

Thanks in advance. LISTEN TO ME......... It's a pyramid scheme or a ponzi scheme. It's unethical. It's borderline illegal. They should be put out of business and jailed. Shame on you if you fall for their propaganda. I've seen people's lives ruined by them. My brother-in-law got suckered by them and lost thousands. I HATE pyramid schemes and can almost always sniff them out in 10 seconds.

[DenverChief]

I don't think so.


Well it's your dollar, I'm just telling you no reputable business will ask you for money upfront...I don't care what they are going to teach you...but that is just my law enforcement training kicking in....

[DenverChief]

Primerica is a multi-tier marketing company that offers debt-reduction advice, insurance (including life insurance coverage) and asset management. It is the “sister company” of the larger Citigroup.

Primerica encourages their customers to invest their money in mutual funds rather then use their money for full life insurance coverage.

Primerica representatives typically targets low to middle-income families with some debt issues, to whom they offer to provide a free “financial need analysis”. Primerica often encourages their customers to invest their money in mutual funds rather than use it for full life insurance coverage.

Primerica provides its services through a network of thousands sales representatives countrywide. The company is structured as a Multi Level Marketing organization, widely regarded as legal Pyramid Scheme. While this is a legal business model, sales representatives in MLM’s are often hard pressed to turn a profit because they must pay to participate, pay sales commissions to the person that recruited them, and are expected to recruit others.

http://www.419legal.org/frauds/primericascam.php

[Bump]

somebody tried to recruit me to that once when I still lived in Lawrence and it's one of those multi-level marketing things, a paramid sheme. So I guess you have to recruit others under you to actually make money. I didn't want to do it myself, but others seemed happy doing it

[Abba-Dabba]

Yeah I have had that call from PRIMERICA back in 1993. Told me someone recommended my name to them. I asked them who was the person. They wouldn't tell me(which meant nobody did). It sounded hokie at the time but went to their meeting anyway. After the meeting I had even more bad feelings about them. Next day I called the BBB and learned that they have thousands of complaints against them nationwide, and that was in 1993. Call the BBB and I bet you will change your mind in a heartbeat.

[DTLB58]

Thanks all for your comments and opinions. This is what I was looking for.

[beavis]

They came up with this genious idea for a rubber bladder for oil tankers... don't think it really took off though.

[Eleazar]

Read up on MLM and see if you think this is any different. I'm betting it's not.

[Pushead2]

http://www.419legal.org/frauds/primericascam.php
womp womp.....

[teedubya]

I joined them in 1995, and it really set a fire under my ass toward being an entrepreneur. They recommended that I read Napoleon Hill's Think and Grow Rich... it has proven to be life changing. I did it for about 18 months, and at the time I was 20, so I didn't know many people who needed debt consolidation.

The program seems to be a good one and the people are quite helpful. If you are a go getter, you can make a substantial amount of money.

It is network marketing... and for some, that carries a stigma.

It has been around for nearly 30 years, and if it was a bad company, it would have been shut down, and most likely, not purchased by Citi and the Travelers Group.

[InChiefsHeaven]

I did the Primerica thing back in 1993, lasted about 2 months. Once friends and family wear out, you are really on your own to try to find clients. And, frankly, the biggest push was not to get people to invest, rather it was to get people to sell under you...which helps the guy who is "mentoring" you. Pyramid scheme. Sorry, but at it's core that's what it was. They did sell products that were pretty good, and I actually learned a few things about finance that I put into practice, but in the end, I don't think very many people are successful at it and most probably don't stick it out for more than a couple of months. It's very Amway...