To summarize, it must be said that we have no doubt Primerica is a legit business.

The employee then speaks briefly in a video (embedded below) in which he talks about how Primerica is such a great 'opportunity' and yet, never explains what the actual opportunity is. Furthermore, a blog setup by the company at features a post with a video entitled 'Primerica Scam: The Real Picture.' In this official blog post, Primerica attempts to defend itself by telling a sob story from the point of view of a current employee. When you visit, you're greeted with a lack of information and no way to find a local representative in your area. 100,000 reps times $25 a month equals $2.5 million a month from its own employees. 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 on page 108 of the prospectus. Primerica asks their reps for quite a bit. So in February, had everyone who didn't go after their Group 1 Life/Health license received a refund of $150, Primerica still profited $20 times 11,550 or $213,000. The other $20 is said to be an administration fee. After the initial three to four days of processing your $199 loses $40 of value for background checks which actually only cost $20. I am in the process of getting three of them right now. In one month off of recruits alone Primerica made enough to pay the 'guy on the CD who makes 2 Million Dollars a year' his money for the year and some change.Ĭan people get refunds? Absolutely. 1650 multiplied by 7 is 11,550 people who did not use their $199 fee for licensing. According to the 'formula of success' 7 out of the 10 will not use the $199 they paid. Let's do a little bit of math for the month of February. Of the 4 that pursue 1 will fail the test and quit, 1 will pass the exam and never sell insurance, 1 will pass, do 2-3 transactions and quit and 1 will become a 'success.' So, for every 10 recruits, 7 do nothing with the $199. Any current or former representative will tell you that there is a 'formula for success' in regards to recruits įor every 10 people you recruit, 6 will quit and 4 will pursue their life license. 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.

Primerica financial services online