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Just thought I would share my very recent experience and thank you to the author of this blog for posting this, otherwise I may have been suckered into an interview but then again, I dont typically work or have any experience in the financial industry and tend to stay far away as it is for positions like this or anything to do with insurance etc. I am so ashame to be same species as John adison and glen williams . Our Primerica life insurance review comprehensively analyzes the company's products, rates, potential drawbacks, and more. After the presentation, the young man asks me if I have investment services or life insurance. Then he spent the next 5-10 minutes telling me that the company is called Primerica and what they do is sell life insurance, auto insurance, and help people with debt. My daughter was contacted by Primerica and she told them I was looking for a job. People have no consideration!!! Pyramid Scheme - Overview, How It Works, Forms and Attributes I kept asking what my role would be and he kept replying that he didnt know, that he could not tell from my resume what I could do and that he was not offering me a job. Because who wouldnt want to make money a % off ur recruits even when your not there to make the deal.We scheduled another appt. It amazes me that people still think they can get away with taking advantage of good people that just want to work. I dont know why i get that feeling when a job has to take more than 30 minutes to explain itself to a group of people, they told us to hold our questions until the end of the presentation. I was left dumbfounded by all these comments. Our government allows them to operate. I walk around the corner and watch her drive off, then quickly whip out my phone and Google PRIMERICA. How BBB Processes Complaints and Reviews. Said business partner called me on a Sunday afternoon. He called me the next day and I missed his call. Recruiters lie to get people to join, because if they told hte truth about the almost guaranteed failure, no one would ever sign up. Which is why a I didnt go down that path. The crazy part it that this PYRAMIDS are legal. Awesome reviews everyone! I pasted a smile on my face and said of course, hes expecting you, he just stepped out for a few minutes though inside I was fuming. I cant believe you even said people should go to the FAKE interview. Thanks for the post. Very very unprofessional company. I was ready to mangle both of them Im so fed up with these lames at this time. Now, though, I felt different. In legal terms, the answer is no. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met. 100,000 reps times $25 a month equals $2.5 million a month from its own employees., http://www.businessinsider.com/citigroup-primerica-ipo-2010-4. The individual is a Regional Vice President and he did talk about passive income, which alerted me. Enter your User ID and click Sign On. No, Mercedes is not the same thing as multi-level marketing. Just WRONG Disgusted!!! When I looked up this company, I saw that they had an aggregate rating of 1.6 stars out of 5 on Consumer Affairs, and I felt simultaneously relieved that I didnt let them get my bank information by putting down the $99, and horrified thinking that I could have been among the many people that this company had roped into their scheme. Glad I already have a good job! They are sharks looking for their next meal! You should be ashamed of yourself for writing an article as false and untrue as this one. In addition, how Im going to have to pay $99 for license + $25 utilities (no other job makes me do this?). When I walked into the office with them, there were a ton of chairs positioned around this little stage, with some type of intermission-like video showing and loud remixed music playing. Suddenly she whips out a sheet and starts asking me questions and taking notes. 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. He was bringing us all down about our current minimum wage jobs or the ones that were unemployed and started to brag about how much money he made. A manager? So a woman called kim called and set up an interview with me in a city nearby. We were all in this rinkadink room, looks like they rented and tried to make it look professional but it looks rushed and had meaningless awards on the walls. They give the job seekers very little information about the job (its not a job at all rather it is a position in the MLM pyramid), con them into showing up for an interview, and telling them if they have the right skills, they may be invited to stay for an information session. What a shame. 4.) At one point I capitulated and however intrigued I might have been over the absurdity of the whole situation, I only wanted this conversation to be over and I did bring it to an end elegantly, by saying that I appreciated the time that he had taken, making the call and am sorry that I cannot help him with what he wants, given that I dont seem to understand what that might be. She submitted her story to Pink Truth, a website I run about Mary Kay Cosmetics and other multi-level marketing companies. Now I have my 2-15 and Im not going to waste that on just Primerica products. He added that the goal for all individuals is $1 million before retirement. 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. I am sick thinking that I signed something that I didnt read, gave her my social security and address. No, better not, or John would be angry that I said something wrong. Feeling like a big dummy and annoyed with myself for giving the man my personal number, not to mention the fact he knows where I work and may come back and try again. She never called me back or contacted me again. I already know about Prime, as this isnt my first go around with them or companies like them, so I am just going to humor them and then as gently as possible (not) let them know this is not for me. Would rather wait for another job. He also told em they were looking for leaders and instructed me to call him to schedule a meeting. Please dont contact me again. Ta da. Also, to those who think its a pyramid scam, we are a NYSE company and have an A+ rating with the BBB. She asked if I wanted change of career. Thanks for this wb,I,m so glad for your comments,I ask questions and yes now I now the truth,thanks. When we get in rm 232 some guy said oh welcome here is the pepar to fill out, I was wondering if this is real? Ill be moving in a few weeks anyway and as I mentioned, I already have work. Is Primerica A Pyramid Scheme? (The Simple Truth) - I Hate Working I sat through the whole thing and, unfortunately, was actually pumped up about it & ready to start making money! Ive had group sort of discussions before, but this seemed to be more of them trying to sell me on a position (it almost felt like they were trying to sell me the products themselves) They didnt ask me many questions about myself, so it felt like they were looking for whoever will take their job, not who wants it. They prey on our natural vulnerabilitis and at anytime any of us can find ourselves being lured in. Those are games we leave for the devil. He then tried to get my bank account info right after and I just barely made it out of that. A real boss would have trained me properly in the first place, not have been so blinded by potential dollar signs and a taking care of ME first attitude. If I attend, will I experience a pressure tactic laden recruitment presentation? Finding your own customers and future work is real work. Also they said they would need to talk to my parents, remember Im a student in school so maybe it might of been valid for parental consent, but to me this was bit fishy as this may have been a way for them to start getting business off me. Or something. By the time he is licensed, he has alienated many of his friends, made some money for his upline, and is now expected to trick others into doing what he was duped into doing. So i googled and seems like a scam i called back and canceled. (I was sitting with my daughter at the time of the call) The lady was insisting on contacting me after talking with my daughter and again my daughter told her to call me the next day. Down below is a tiny non-referent asterisk that tells us to check their claims against the DISCLAIMER portion of the book. It is a horrible, horrible product for almost everyone, but that doesnt make it fraudulent. I will not be going Monday. If anyone has been approached, RUN!!!! Unfortunately, almost everyone in pyramid schemes lose money. No amount of money could fill the hole that would leave in me. Ponzi schemes simply require a cash investment to earn returns. The MLM company has all the power and they just sit there and watch the money roll in while their distributors lose. She asked a few questions about my past work experience as well. You can certainly shop around for better than what Primerica offers. Forbes predicts Primerica will do to financial services what Amazon did to retail! 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! Snowden Dunks on 'The Get-Rich-Quick Real Estate Investing - Vice MAIN ADDRESS. Had a local resident from Primerica call me as I often leave my card at the nearby supermarket as I offer computer repair services. Also, there is nothing on my LinkedIn profile that indicates I have any financial talent. And use to convince FLORIDA retirement sustem workerd to move there money with us thinking thatsba good idea and look what is the result ! Theyre making money out of your stupidity. I said yes just to help her out. Ive been contacted by numerous insurance agencies for employment and have never been interested in that field of employment. No, the only logical answer is that they somehow benefit from this revolving door. 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. Then again two days later. The only thing that bothers me about Primerica is being captive and not having the flexibility to sell other products. 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. If the only business positions are in Georgia, what do they expect people to believe they would be doing where they live? They both return later that same evening and buy more merchandise. I had no desire to pursue such a career related to insurance, as I prefer investing. She looked to be in about her early 50-s. Much older than the crew she had working for her. Not that it matters as essentially every three years the sales force has been completely replaced, except for the 2% who got in early years ago. There is no rational benefit to buying insurance or mutual funds from Primerica today. I told them that Id have to think things over, though it took a couple of times for me to say that so that they understood. But upon going there I saw a completely different picture. Most all businesses fail, traditional or mlm. remaining 50% of sallys premium go up to my trainer, (again, depending on rank%.) She sits me down and she gives me usual scripted mumbo jumbo how Primerica gets people out of dept through education, and how their life insurance policy covers families and how I can make $1500+ only working about 15 hours a month. I believe the only way to get ahead in America is by entrepreneurship, MLM and/or Franchise if you can afford it truth be told, if you think about a PYRAMID, you could look at your job as one. I read the story that was provided above and a handful of the comments. If you want to sell insurance or investments, you are much better off with a company OTHER than Primerica. WHEW!! Theres so many good jobs out there- dont go this route. At this point, I had a chance to become aware of the atmosphere in this building. As soon as I answered I heard someone making silly sounds and I wondered if it was someone I knew but no it was the gentleman who said he was calling me because my friend had recommended me for the job before I was a hard worker and he wanted to know if its true..we began talking for a while. Primerica Review: Pyramid Scheme? (2023) - ecosecretariat.org I thought that was weird; if youre going around job recruiting at Target, you should probably have a business card. I hope she doesnt see this thread because she will get defensive about this company. She talks about them like they are real. 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. How to spot a pyramid scheme - Stacie Bosley TED-Ed 18.2M subscribers Subscribe 169K 5.4M views 3 years ago Learn the techniques and tricks that pyramid schemes use to recruit new members and. Im kind of worried they have ALOT of personal information about me. Thanks to all who shared their experience. Were not talking about a rogue recruiter here and there. Operated a pyramid scheme: The company also encourages consumers to become Financial Education Services "agents" themselves, selling the company's services to other consumers. Its all true. He said he worked for a brokerage firm and was looking for managers for several offices he is opening in the area. He wasnt really giving me a clear description of the job, but I still heard him out. I sign some kind of agreement that she mysteriously summarizes for me instead of letting me read. There seems to be a way to make money but you have to be highly deceptive and cut-throat, oh, and pretty desperate to make money in MLM. He did have an office, yes, but that doesnt necessarily mean he made the money to keep it afloat. Sounded too good to be true about the money and needless to say thank-you to everyone here I will not be going. I was approached last night while grocery shopping at Star market. Im rather candid so I mentioned i was a bit dissatisfied but hey, it pays the bills. It's a scam, he has to pay for his training, doesn't get paid for time training, some commissions are based off those who work under your recruitment pyramid. In conclusion I think its awesome that they make 30 million a year off active reps paying fees, from a business standpoint, of course. I like to hear about the successes towhat did you find out about those that succeed at this? He didnt even walk me to the door, shake hands with me, give me a business cardnothing! Plus who knew if they actually still earned that? She seems thoughtful and amiable and I like her. I was wearing a ring on my fourth finger (its the only finger it fits) and she asked if my husband had a job, so I went along with it and said yes. I drove out to the location, got there 15 minutes early, so I sat in my car. I was VERY unhappy in my job and I had been actively looking. Again, I figure worst case scenario its a connection. Then i thought to myself who the hell asks for 25 names off your phone and debit card info in an interview? Is Primerica a Pyramid Scheme? - 2022 Review Reveals the Truth They asked my husband and I for $99 each to set up (pay to be hired) and wanted $156.32 cash to start our life insurance said our kids would automatically get $135,000 if we even die today, This bleepity bleep bleep!! Top 927 Primerica Reviews - ConsumerAffairs About a week later she calls me. Ex boss is close with a bunch of guys who are all at Primerica around here. The commission overrides only reach a small number of generations deep. I can feel itll just be a waist of my time and I would rather work for a company with a good reputation. He asked me for my number so that he may call me later, I provided it, and then after he decided to instead just ask me to come see him tomorrow. Understanding The Tier-11 Membership Of Primerica These companies actually have them sell their products. And yes the higher ups do benefit from your recruits they arent going hard for no apparent reason and they will convince you they are blue in the face that Primerica will help you build your own business within a business. Many thanks to this website and all those who have contributed toward it. The big guy stated he made over $500,000 last year. She went thru a 45 minute pitch for their pyramid scheme. I would seriously consider investing in the company since, realistically, their pitch is great for the uninitiated and their motivational tactics (weekly motivational conference calls and meetings at fancy/lavish venues) work on those that take what they pitch at face value. Her husband, a mechanic, got invited to a big fancy house and had dinner there. I made to RVP , sold alots of policies yes made money but when my comminity questioned 35 year term beeng level term company simply forced me to step down . I told him I work 3rd shift and that I can try. Nearly everyone loses money in MLM. Primerica. (within the next 5 years) Tameka All insurance agencies are NOT pyramids. That is why the poor get poorer and the richer who work there ass off get richer! I appreciated his candor. I feel so bad and my heart bleeds how mich i lied to the community and friends and sold them something they dont stand for . I may have broken his fingers and I shook his hand He started his presentation about the company, asking us how much wed like to make. Some of my friends work for Primerica and do VERY well! Im currently looking into anything and everything about them to be certain of all of this MLM/pyramid scheme type business and I am definitely getting out if Im right. What it seems to be is actually a high interest line of credit. Similar situation to how I found about this market a couple days after Christmas. I work retail so my hours are crazy. I offered to quickly mail her one, as I had not brought one myself (I already had bad vibes, so I didnt even bother bringing a hard copy). I said to him I got a call for an internship two weeks ago but they never got back to me, so I was actually happy to have received that call from him. Yes there are people doing it, there are also people playing in the NFL and NBA, should we promise every kid the can go pro because others are doing it? International Association of Better Business Bureaus. I was going to an interview tomorrow and now I know its just some bologna. Thank you for everyone posting. Seems like she wants to help people. Primerica is a legitimate multi-level marketing company based in America. I then told him Im not interested. Because MLMs are pyramid schemes in which 99%+ are guaranteed to fail. After reading these comments I can say I will not be showing up Wednesday at 6:15 for my interview. THIS IS A BUSINESS, and youre too lazy to work for yourself or want to educate people on their finances. She was upset and wanted to know who told me those rumors. She asked if she could put me down for an interview on Tuesday. OK if that is the case then why are you driving a 1995 Toyota Civic AND why does your wife work FT AND he also had a PT job at GEICO!!!! Some people are so desperate for money that they are blind to this. I want to shake my head at me too. Ex boss explains that he also wants me to set that up as an employee benefit. Wow, thank you to all who posted about this company. My only concern is these two know where I work. Im so stressed out now because I couldnt come up with a lie to excuse me from that call. More importantly, I never found out why the middle-schoolers were there! The insurance of Primerica is a company that is only said to scam people, using the method of false information, I have been 7 years with this life insurance and I am trying to cancel it because every year they are raising the price a lot, and tried to cancel and they are collecting my savings that I have in this policy, Last year I sent my cancellation letter and they do not want to cancel my insurance, I will have to ask for help from the government of *******. She the. However, Im wondering if that might be an acceptable trade-off for me, if this setting offers the gradual training and the part-time opportunity (at first) that Im seeking? MLM is not about work ethic. They saw my FB updates about needing a little more income to start some entrepreneurial type things I was interested in. I mean, what was taken from them? I have reviewed their annual reports (available online). Anyone with money who makes a good living does not discuss that in open form with people at a so called job interview be smarter than the rest of us , cancel , complain and dont let them take advantage of you. The activity on this thread keeps the page at the top of Google searches for common phrases related to Primerica. I thanked the VP for the opportunity and ended the call. He said Financial Services then when I asked what kind of company he states the details will be discussed during the interview. The second, presents a sales pitch on a legal service. Anyone who lasts with them is a masochist. He picked up the phone and began to dial but I noticed he pressed *69 first.. what, he was blocking the outgoing #?? One last question: Might you also direct me to the financial services provider anxious to hire a gray-headed, chicken-necked, bifocaled old cronewhose work ethic and ethics generally are strong?! I wasnt amused. Are you saying that all the people who commented on this thread that they participated in a fake job interview like this are lying? I work with a woman who is always trying to recruit people by taking them almost 2 hours away to hear the presentation.