People researching multi-level marketing (MLM) company Primerica seem to end up on this blog. I wrote previously about the fake job interview that is really a recruiting session for Primerica, some of the scammy aspects of Primerica, and one former Primerica representative’s story.
I even get Primerica reps emailing me to tell me how awful I am for saying bad things about their company. It’s just a fact that MLM investment and insurance companies sell products that aren’t as good and are more expensive than traditional insurance and investment companies. They have less educated representatives, many of whom are dabbling in the field.
For fun, I looked for reviews of the Primerica “business opportunity” (no, MLM is not a business) and was pleasantly surprised with some findings on Glassdoor. Of course brainwashed reps have been asked to flood the site with positive reviews to tip the scales in the company’s favor. But there are still plenty of honest reviews about what a terrible “job” it is.
Here are some of the negative reviews of Primerica from Glassdoor:
None absolutely none period run fast run far
all of them this is a pyramid scheme they hire people through friends and they get a commission when they do. Ive been one of those people. You pay $99 and then 25/month to access the website. SCAM. Then you sell life insurance through family and friends. These people are lower than scum. I would say more but more people can say it better than me. Whatever people said about Primerica is absolutely true. ITS A SCAM Continue reading
This woman says that Primerica Financial Services representatives lie and misrepresent the business opportunity to others in order to get them to join and stay an active part of the plan (even if they’re not making any money).
Hi. My name is Anne and I was a Primerica representative (full time) for about 7 months (from May ’07 to December ’07). I ended up in a multi-level marketing job in Primerica as a young adult.
I like what the company stands for and stuff (as far as helping families with their products), but it’s such a difficult position to be in. A lot of your success is based upon how many people you know. I knew the products backwards and forwards, became a decent sales person, was able to conquer most objections, but because I didn’t have a big warm market to start out with, I sucked.
When I first joined into the company, I was promised that everything was easy and I’d be making as much if not more than I was at my full time steady desk job… so I quit my regular job because at the time when the opportunity was presented to me, it was a “regular” paying job just with very flexible hours. Continue reading
Primerica Financial Services is a multi-level marketing company that sells life insurance and investments. I’ve written about Primerica in the past, questioning whether Primerica is a pyramid scheme, and whether PFS is a scam.
The bottom line is that Primerica sells legitimate products and services (life insurance and investments), but sells them at inflated prices to generally unsophisticated consumers. So consumers are overpaying, and likely buying the wrong products. Additionally, the MLM structure sucks for the Primerica representatives. Because there is recruiting with so many levels, the distributor who sells the products receives much less money than if he or she sold similar services through a traditional insurance agency or investment company.
A typical recruiting ploy in Primerica is the job interview. Representatives of PFS troll the internet for job seekers, harvesting resumes from job sites. They contact the job seekers with an offer of an interview for an opening. They give the job seekers very little information about the “job” (it’s 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. Continue reading