After the presentation, the young man asks me if I have investment services or life insurance. Its headquarters are located in Duluth, Georgia, and the company offers services across the US, Canada, Guam, and Puerto Rico. You all invite me here to interrogate me about more people just to get mad and be rude to me. BUT, there was something not quite right about him, too smooth. I was also applying for jobs but for some reason I had chose not to go with this company. Everything Ive written here is true so please dont waste your time on these people. Becoming a Primerica rep requires you to pay a $199 (now $99) fee and highly recommends paying a $25-a-month fee for access to Primerica Online as noted . Take time to get out of dodge. So upset. LISLE IL. Of course that is enticing. No mention of the office manager position the other man had offered, so I decided not to bother bringing it up. I went with desperately expecting to land a job . Report pyramid or Ponzi schemes to the Federal Trade Commission (FTC). I thought I would be the one filling out my own application. im gonna go here them out this Saturday and let them waste their breathe. Apparently Im not too lazy, and Im actually quite good at being self-employed. Thanks for sharing and saving me the gas money! On top of that, the lady who talked to me one on one after the presentation kept trying to get me to give her more peoples names and numbers and I told her first, I didnt know anyone. In Primerica, the game is recruiting into infinity. I was brainwashee by Islam and than when finally was free away from and than this so called god/family/business cult comes along Oh how sorry i am for my 10 years of life He works for the State of Florida. Learn about pyramid schemes and other crimes at FindLaw's Criminal Charges section. When I stated that this was just short of a pyramid scheme and that my last interview with the company (5 years ago) resulted in someone wanting me to buy over $100 worth of licenses, they had nothing to say. If they call and set you for an interview, DONT DO IT!!! She never called me back or contacted me again. The place where we met was super creepy, also. THATs owning your own business not this MLM stuff. She had a nice dark tan and spiky hair with maroon tips and very pale yellow roots. I cant stand the fact that losers like yourself cant understand it. So when I flat out asked for a job description, he said that the company was branching out from neighboring Moncton, and because of this they would require an office manager. MLM or a Pyramid scheme.Primerica is a Pure Business opportunity, the . Cost varies depending on the policy and the applicant's age and health profile. http://www.sequenceinc.com/fraudfiles/2015/03/multi-level-marketing-is-not-a-business-its-a-pyramid-scheme/. There are too many of us out there that are unemployed and in search of a real job with steady income. Nice to know people are exposing this company! The evening eventually came to an end, and I watched John as he scored 2 new recruits. At first I was impressed; but not so much now. I already work full time. A pyramid scheme begins with one person or a small team recruiting participants to join a new business venture. She gave me her number and asked to call claiming she was a hiring manager .. I took a few deep breaths and began to greet reps I knew as they began to enter for the Opportunity Night. Luring young grads seems to be low hanging fruit for these guysmostly because these hungry go-getters that dont know any better. Unlimited income potential. The women who spoke on their first visit asked what Im looking for in a career and mentioned I was very impressive with customer service. I asked who the person was that referred me and the lady laughed and then said a name, and i did know someone named that but i hadnt talked to him in a year. its a mess! Tracy says this is about recruitment and getting people to pay the initial and monthly fees. Said business partner called me on a Sunday afternoon. So I got a call from the so called vice president of the company, mentioned they were seeking to hire many individuals due to expansion. Not a fan of recruiters that will give great compliments, offer big promises with no details & make unemployed people pay 100.00 to get started. 90% failurethat is high percentwhere did you get that number? The guy on the phone was super nice and seemed waaaaay too eager for me to come in, especially since I told him up front that I had no financing background. Primerica is so desperate for recruits that they petitioned to make the Series 6 licensing exam easier. In another spot on their website, they suggest that part-time agents may expect to earn about $500/mo (which is also $6000/yr). 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. The company is not a scam. Also, back then Term insurance was much more novel than it is now. Tony Thanks for your concern. Indeed, I was invited and liked. If you want to sell insurance or investments, you are much better off with a company OTHER than Primerica. Primerica asks their reps for quite a bit. i said Look ill be honest with you, Im a very cynical person. Its too bad that a few bad experiences have been compiled in one area and deterred people from seeing if this career was really for them. I was supposed to be intervied by Anthony, i wasnt. Is Primerica a pyramid scheme? - Quora Be aware, I messaged on Facebook, and the account had comments saying Hey man, I think your account got hacked Ive been getting odd messages from you. kids dobs and weights,etc. Understanding The Tier-11 Membership Of Primerica It wasnt my first time hearing from Primerica. Was hit up on LinkedIn and Im not looking for a job but still wanted to search out what crazy company was messaging me on LinkedIn again. Additionally, the MLM structure sucks for the Primerica representatives. The commission overrides only reach a small number of generations deep. also I asked for what position ? And since the beginning things felt off. Primerica Reviews - Legit or Scam? - Reviewopedia Im really glad I found this, but sadly the damage was already done. I arrived at the interview and when I walked in the door I heard LOUD hard rock music playing. The problem in this country is the mindset and victim mentality nobody makes people stay small and closed minded! ONE EVEN SAID THAT PRIMERICA STOLE HIS SS# BANK ACCT AND AND ALL HIS FRIENDS HE REFERRED!!!!!!! You will lose the business and the friendship. Primeamerica is a legit insurance company. Lesson learned. When he called me I was busy and asked him if i could call him later. Question Whole life insurance is not fraudulent. Like, if someone asked a question that would be fairly customary in the real world, he really would let off on them with something snippy like well, I dont know what youre worth yet. THANK YOU so much for posting this.. Should have gone with my gut. I wanted to be pumped but I found it hard to ignore the fact that John had blatantly lied when the professional-looking man had asked if there were any additional costs other than the $99. I emailed Primericas Compliance department and was told they could not give permission for me to take the job because it would violate SEC rules. A couple of days ago, I posted the following on Craigslist: Hello, Ive excellent command of MS-Word, MS-Excel, and MS-PowerPoint. They said they would need my bank information. They talk about these bad reviews during training, saying they are written by people who tried the opportunity and failed. The agent was a very nice Italian-American woman who actually knew something about financial services. When I looked at the girls job title, I googled it and found this site. And they didnt really seem to give a sh&* that I was cancelling. I blew it all off the moment I was dismissed. Please name some that dont. Pyramid Scheme - Overview, How It Works, Forms and Attributes Primerica is a very old company that for over 40 years has been selling insurance and financial products by way of the network marketing model. Very very unprofessional company. And again, its only gross revenue and doesnt include the costs of doin business theyre all responsible for out of pocket! 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. I had started in 1984 and it took me until 1990 (six years) to make RVP. ..so i asked her if its such a legit company why do I have to pay for my background check and why is there so much secrecy and then sign of primerica is most outside. Then she laid it on the table: I needed to go out and start recruiting. I thought oh boy! Why? All in all, the research done prior to the interview was useful as some claims from the internet with regards to fake interviews were true. Is Primerica Legit or a Pyramid Scheme? - Impact Marketer I advised that I am looking for roles in the IT field, preferably as a deskside technician. After all of this fiasco, they have become very distant friends and I FINALLY own pretty successful and growing business now from my own hard work. She chats up the bartender who seems wary of her. I asked his name, he says Fitzgerald, refused to give a last name. At the time I was desperate for anything that could get me more money. Now here I am, I think Ill be cancelling my interview for tomorrow. Very few people want to do the hard work thats required to succeed. Just got off the phone with a recruiter from Primarica, and he made it sound like he sought me out for this position. Primerica. please dont look me up. You say your husband someone to be in the office and is getting part of his earnings. Ironic, since recent grads are the least likely to be able to afford to pay to get into this crap. The guy I did the interview with was bragging about how much money people made and that turned me off even more. I asked her DO I NEED TO PAY ANYTHING TODAY, she said yes $140. As I could see in some windows and noticed these people were sitting and waiting, I figured a lot of interviews must be happening around here. After hanging up with him, I found this wonderfully put together article and took the time to go through most of the comments as well and found pretty much everybody in agreement that this is a scam. Multi-level marketing is not a business. Probably not the perfect business, but everyone I know needs to improve their financial situation. I do believe my guy calls with an unknown number. 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! Primerica's MO is using people to convert their acquaintances into customers. Well im not going to my interview today. The activity on this thread keeps the page at the top of Google searches for common phrases related to Primerica. A pyramid scheme does not refer to the layers of management that you see. But like all of these MLM businesses, its not set up for money to be made through only selling the product. They would contract with these companies to offer customized plans that are not offered if you the customer dont go through Primerica first. I should be filling out my own application. I eventually gave in and asked for her business card, she told me she had left it in her office. I felt anxiety throughout this whole calling session. I finished having a fake interview last night and was literally thinking about going to that informative session. well I looked up pfs investments I didn`t see the address she had given me .then I looked up names I didn`t see her name under agents or anything . I made a decent living $30,000, but its much harder than most people even imagine and it truly does require that you do oodles of prospecting. I had really lost interest by the time he had gotten to the bottom of the first page. When I told my boyfriend about it, who is currently taking a bunch of business, marketing and economic courses (Im a FILM MAJOR so the fact that they wanted me at all should have tipped me off), he said it definitely sounded like a pyramid scam and to look it up. Some people are so desperate for money that they are blind to this. The presenter looked like 19 years old and began talking about the company and that it was called primerica. There are two levels of people in the business, not infinite levels. I dont NEED this job. When i asked for a website he diverted the conversation to something else. Lawsuit Against Expert Witness Highlights Issue of Conflicts of Interest, Jackie What an interesting comment! Duluth, GA 30099-4000 Visit Website Email this Business (770) 381-1000 Primary hours 9:00 AM - 5:00 PM BBB Rating & Accreditation A+ Accredited Since: 1/1/1980 Years in Business: 46 Customer. We will see. I googled the address and found out the companys name is Primerica Financial Services (I dont even think he told the name). Information provided on Forbes Advisor is for educational purposes only. I read the story that was provided above and a handful of the comments. Overall sounded ok but things started to not add up. Wow I just spent $99 on nothing!!!!!!! I answered and then asked what company he was calling from, something like Frontier Financial Industry and then he mentioned it was owned by Primerica and I immediately let him know that I was not interested. Mary wants to extend the visit. 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. Primerica - Wikipedia So glad I read this blog almost got scammed. But upon going there I saw a completely different picture. I looked them up and it seemed to be life insurance, not a retirement fund at all, so I blew it off. He been calling me since. For the person who did have a comment pro Primerica, I am adding this link: https://www.bbb.org/us/ga/duluth/profile/financial-services/primerica-inc-0443-6985/complaints. Its based on any rep earning $100k DURING ANY BEST 12 MONTH ROLLING WINDOW during their entire careers. They are liars, they never gave me my money back, they have all my bank info and I feel very unsafe about that. All in cahoots. When I called her back, she reiterated her voice message and went on to briefly discuss the position for leadership role for this company and requested to set up an interview. I never identified the gender of my child (which is a boy, by the way). MLM is not a business. He first asked me about past employment, what im going to school for (Chemistry major), my hobbies, etc. Look into those; and if the person you are dealing with only goes to the one service and being a rep,, find another Primerica person to help you. Thanks guy- I am happy I did not fall for this prank. My name, what I do, how much Id like to make, what my goals are. I was in college when they reached out to me about coming there to work. I had no desire to pursue such a career related to insurance, as I prefer investing. I have reviewed their annual reports (available online). So happy I dug deeper. I was very interested in that. Thank you to all for your comments! It seemed to good to be true. Primerica Under Investigation: 3 Cases You Need to Know - Saved by the It was withheld from peoples pay. The address to the building was messaged after the call. Randomly the thought popped into my head, he also said working 2-5 hours a week would mean an extra $1-2000 a month for your family but I quickly dismissed that thought. All pyramid schemes eventually collapse, and most investors lose their money. I too have been approached by reps from Prime America (while at work at 12:00 am) about this great job opportunity, that I have a great personality, outgoing, would fit right in yada, yada. She handed me a clip board and asked me to fill out the information requested. They are a publicly traded company on the NYSE. this woman I met about two years ago at my job . If youre reading from the bottom up, pay close attention to what Tom (June 2014) & Anonymous with Accounting Degree (January 2015) have to say. He just missed the Pyramid Gravy Train by a couple of levels. If it sounds too good to be true, it probably is. very dumb. During the call I asked her about three times for a website link or something to see if I would like working with her but she avoided giving me the website, I had to ask her about three times till she finally gave me something, and even that was just the name of the company. The man calling me in for an interview was very abrupt and gave very little information, besides the address and time. I dont mean any disrespect to the author of this blog but I wonder if he/she thinks about real estate brokers, is real estate a scam or pyramid scheme as well? They pay lots of money to attorneys to help them navigate the laws and create something that looks legal. 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. The early investors actually get paid those big. He not once mentioned how or why he chose to contact me. As it turns out, I am a lapsed Catholic and an Atheist, but I still wear a silver communion cross so she may have been taking a stab. Thanks to all for the above info. Investment Adviser Firm Visit SEC Site. Take up as much of their time as possible, keep them on a string. So I bit and went to the interview. Long story short he told us it was a company about life insurance and that wed help families bla bla bla. We are not a scam and there are no fake interviews. Their 6 digit earners boast is misleading as its a cumulative, not annual figure. A phone call is more personal, and taking down someones number to give to ones own trainer is the model we use. Many thanks to this website and all those who have contributed toward it. Company name finally? Cancelled my appointment with them. We talk for a second longer, she makes a point of showing me her expensive car and vanity plates (I realize now how often she was trying to make displays of wealth from the moment I met her). If your comfortable with just getting by (paycheck to paycheck) then by all means continue with what you are currently doing. Before I knew it was Primerica, I thought I was going to be interviewing for Coldwell Bankers, who have a good and legitimate real estate reputation. A pyramid scheme is an investment fraud in which new participants' fees are typically used to pay money to existing participants for recruiting new members. Pyramids are illegal and would NOT be listed on the NYSE. You can certainly shop around for better than what Primerica offers. Answer (1 of 24): From my recent exploration of their compensation plan, they are very similar to the traditional broker/dealer -> agent model of insurance, real estate, and mortgage brokers. I knew to avoid them but because of how fast she mumbled the name i didnt research. Also, to those who think its a pyramid scam, we are a NYSE company and have an A+ rating with the BBB. Ill be moving in a few weeks anyway and as I mentioned, I already have work. Three days ago, a pair of women came into my store to purchase some items. Joke of a company, I hope it goes under. He wasnt really giving me a clear description of the job, but I still heard him out. Im sad to read all this because it is true. And, how come there stock is listed on the NYSE? Two girls were there for the job too. Financial Advisor (Former Employee) - Fort Worth, TX - November 23, 2022 Were 30 mins in this interview, hes asked me for $124, 3 people i have to refer who will also pay $124, my credit card info, 25 phone numbers to also call and sell insurance too, and then called my parents for a home meeting. I received invite to interview Suddenly it occurred to me, who knows what that really means in context. I think this is so sad if shes not realizing what she has gotten herself into. Yes, the fake interviews have occurred. I filled out the basic information and then realized they asked for social security and began to question him. One of them asked out of the blue, how i like my job. The whole you QUALIFIED to spend time with me thing seems ridiculous to some on the outside, I know. In an MLM, your upline gets a big cut of your commission. 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? 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. Then I felt a bit ashamed for thinking badly as I remember Johns words to me, that he would always act in my best interest as an expert in building a business. they quickly muttered PFS. $99 fee was mentioned. Made $100 in a single month. Mary clings onto it for dear life. 28 Best Direct Sales Companies To Sell Products From Home [2023] * Isnt it true that a lot of consumers arent sophisticated when it comes to insurance, which is why there are so many scam artist out there taking advantage of them? Thank you guys for posting these. Later found out this company had sold my sister, whos a single mom, a massive EXPENSIVE insurance policy. 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. A couple young men were milling about in 3-piece business suits. If I had a little more information I wouldve researched the company, but there wasnt even a specific name, Im not sure why I didnt consider it a scam at the time. I went for the so called interview today and was completely confused and turned off. Ive read a ton of comments on other sites as well, and this is just not cool! I read a post of about how a Primerica employee came for a home interview and spent 3 hours trying to sell them insurance and about 30 mins interviewing them for the position. People keep saying Primerica is MLM because it IS an MLM. I will not be going Monday. When I walked in Spanish music was playing and the office was empty even in the so called Vice Presidents office its was empty and had fake plaques and stuff every where. I dont remember exactly what he said to me but I realized Id been lied to and I was so mad that I just walked out. Thank you all for this i guess i wont be going to that appointment today. it takes 1 minute to call or text. It occurs to me that if a person would want to try this kind of sales, then it would be just as easy to sign up with a major insurer such as Woodmen or Northwestern Mutual, NY Life, etc. Id really like to figure out if it is the company that is the problem, or just some of the people in it. 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. I noticed that he put me as a recruiter on one of them, and himself on the other. Nothing! I asked, how can I be that guy? (pointing to the top of the pyramid). 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. She told me that she was expanding her business, she worked in financial services, and was looking to hire people. Glad I found this page though so I dont have to waste my time or money. The main product Primerica offers is Term Life Insurance. I interview with a Primerica Financial guy like 15 years ago. Cryptocurrency: The Modern Pyramid Scheme - Berkeley Political Review Anselm of Canterbury, this still goes on. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. He had a misdemeanor when he was younger and it affected him getting the position- so he said. I retired from a 20 year career in the U.S. Air Force in 1993. Turns out that of the top 25 life insurance companies out there, Primerica is at number 22, and they have a very small share of the entire life insurance market to begin with, even though they have more agents than every other life insurance combined. Meet Primerica, the New Wall Street IPO That's Really a Multi-Level I figure its a slip of the tongue and she means AtlantA, but throughout the conversation she keeps excitedly bringing up Atlantis. Had forgotten the details but Tracy Coenens information on many posts about the 99% failure rate of MLMs, despite Primericas legitimate products have me thinking. I, as well was duped into attending an interview and I knew right away something was off. A pyramid scheme is a fraudulent system of making money based on recruiting an ever-increasing number of "investors." The initial promoters recruit investors, who in turn recruit more investors, and so on. The dude ignored me completely. A pyramid scheme is a fraudulent system of making money based on recruiting an ever-increasing number of "investors." The initial promoters recruit investors, who in turn recruit more investors, and so on. Our government allows them to operate. Blah blahI knew it was bs only because I have had encounters with companies like this when I was younger. Well! What Is Multi-Level Marketing? - Forbes Advisor 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. I was not at all interested in becoming a sales person. She said she wanted to talk to me about something she & her boyfriend, someone I also know, were doing, and wondered if I would be interested in going to a little meeting at her office. Income is limited and since they, were at a point in time, only selling term life, there whole pitch was buy term invest the rest, which is great considering their term to is age 99. Do I just block them and never contact them again? He went on to explain that the company offers free financial health reports to perspective customers and that all they ask in return from the prospects is they offer up a list of 15 local contacts so they can hopefully recover the expense of this complimentary offer. I, actually sat through the orientation, and afterwords the deception started. Its a churn and burn- they will hire ANYONE who can pass a background check. 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. 2. Youre good people and will, no doubt, save other people from being duped. Bogus, obviously. Stopped at a job fair. But it seemed scripted, as many of the topics of discussion were connected to internet sources and he had all them loaded up on the computer. I called her back a couple days later and she scheduled an interview for this coming Monday. I can see her answering it even in the middle of the night to talk me out of cancelling. Told my interviewer I would call him back this week with a reply. After all, he was the successful one here of the two of us. This place is a joke, dont waste your time or money on them. He finally emailed me back saying that 10 works great but I would be speaking with David because he was busy busy busy! Flyer also says we cover the business ownership & part-time opportunity. I think youd do well and Id like to have your number and have my secretary call you to set up an interview. It was nice how they fooled some people but I was ready to go after 5 minutes, it reminded me too much of cutco knives sales pitch. They asked about my work situation and I told them that I got a job a few months ago.
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