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. Read More