Primerica sketchy or legit?

[callen3615]

One of my unemployed buddies is moving to charlotte to work for primerica. He has already asked me if I was interested in investing for the future, I told him I had looked at roth iras ect, he wanted to "sit down" with me sometime. He also has asked me if I know anyone who is interested in a job. This seems like a pyramid scheme to me, does anyone have any experience with said company client or "employee"?

 

[Sean the Nailer]

Re: Primerica sketchy or legit?

20ish years ago it seemed to me a very high turnover rate office, to which they want you to sign up all your friends and family.

Then, as a few months go by, sorry to say but you just didn't make the cut. Have a nice day.

No, I didn't go that route to begin with, though I was watching 'another'.

Maybe somebody has a different opinion/experience?

 

[Oakland Tactical]

Re: Primerica sketchy or legit?

In Michigan you have to be licensed to sell life insurance and do retirement accounts. I looked into Primerica in March. They sell real financial products that are legit. What the program is in a nutshell is that you try to get rid of bad investments like spending too much on car insurance, pay off debt and invest the difference. They also want to move you out of whole life insurance policy's and get you to buy term and invest the difference.

While this is generally good it is a pyramid type structure that if you get people under you you receive residuals from their sales. Not much difference from being a broker but it goes deeper than one level. You do not need to build a "business" but its encouraged. The products are basic and their market is generally the working class that needs basic financial direction and some type of investment vehicle.

As an licensed agent the commission structure is nice even if you don't have underlings, without gouging the client. But the RAH RAH atmosphere is still there to recruit for down-line agents, not all Primerica leaders do the power cheerleading but some of the younger ones do.

 

[Inspector Gadget]

Re: Primerica sketchy or legit?

If I recall correctly, Primerica bought/merged with a company called A.L. Williams. ALW's focus was on getting people out of whole life products and into term products. The difference in premiums were deployed into mutual funds offered by ALW. ALW had a network marketing structure. They were around for a long time before they evolved into Primerica. Never heard the company accused of anything other than being fanatical about the buy term, invest the difference, concept. Arthur (?) L. Williams founded the company back in the 70's, I believe. Supposedly a retired football coach from Georgia? Alabama? As an ALW agent, you were an independent contractor. Not sure what the arrangement is with Primerica. I knew some ALW agents who did very well for themselves. I also knew others who didn't last long. Most started out as a sideline, and those that were good at it moved into doing it full-time.

 

[BountyHunter]

Re: Primerica sketchy or legit?

They sell very expensive term policies with intereting clauses. Not exactly a quality product and by B rated company.

BH

 

[Queequeg]

Re: Primerica sketchy or legit?

I'd go with Kramerica!

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[Sebben]

Re: Primerica sketchy or legit?

I was almost recruited/ hired by primerica but i decided not to work with them once they asked me fora 99 dollar deposit for some "licence".

 

[super-tac]

Re: Primerica sketchy or legit?

Primerica: Run, don't walk away. Seriously.