Rating: (1 / 5)
Price: $99 to start
Founded by: Authur L. Williams Jr.
Primerica is a financial services company who are overpriced for their services. They recruit people to form a down-line and make money on several levels. This is also known as a multi-level marketing company. The reason why I feel this an untrustworthy business opportunity is because they paint a perfect picture to the consumer when in fact in is close to impossible to make it big financially with the company. I will continue to knock on these companies because it is not fair to people to mislead them or make them believe that it will be easy to be financially free.
- Opportunity to own your own business
- Multi level income opportunities
- Relationship with a company that has been around for decades
- Some recruiter/trainers are really cool
- Have to pay to start
- Have to pay for your website
- Nearly impossible to make money
- Have to do cold calls to promote
- Adopt a hustler attitude
WHO IT IS FOR
Anyone who has an interest in selling life insurance or helping others with financial services. Primerica is good when it comes to advice because they are advising people to become and how to become financially prepared for unexpected or final expenses and retirement. No doubt about it, these things are important. However there are many other less expensive ways to do this. Banks for example offer retirement products that are easy to invest in. Even employers offer products like a 401k that can be especially beneficial. As for life insurance there are many more alternative companies that offer excellent benefits and plans that are far more less expensive. With a little research you can find these.
A typical day in the life of a Primerica representative would be sitting in your office making phone calls to prospects and setting up appointments. Once you are at your appointment you’ll be sitting down with people and discussing their financial needs. Things such as retirement, savings, debts, expenses, investments, and their financial goals. You will be selling your products and services as a solution to their current situation. Whether that would be investment products, life or health insurance, advising on savings plans, and/or debt payoff solutions.
Personal Experience: I sat in a few interviews to become a Primerica Representative and all I got was a lot of smoke. It’s one thing to want to help people with their financial life and another to offer people overpriced products in hopes to make a commission off of it. There are no promises in how much income you can make but a whole lot of rubbish of premium testimonials of people that have been with the company for a long time and make a lot of money.
It’s very important for a business partner to be completely transparent for me when making a business decision. I received a lot of opinions but nothing concrete that would allow me to make a sound business decision. For example, telling me that this is a great business opportunity and that it will set my family off for financial success is worthless without telling me the 5 W’s. (who, what, when, where, why, and how) I want to know exactly how I’m going to accomplish these things. I want to know when I can expect these results, and I want to know why is this product/service better than the next company/product/service. I did not get any of that while getting persuaded to join the company.
I did however join the company a couple years ago. My recruiter told me he would help me get the $99 to start and wanted me to start right away. It was all fine and dandy when he blew all the smoke in my face about why he thought Primerica was the key, but when it came to start it was a whole different story. He sent me home with homework to write I was highly upset about this because here I was with no training and poor confidence in the company calling my close family and friends hoping that they would benefit from this product/service. All for my own personal gains. I felt really uncomfortable with this position. I’m not a dishonest and careless person to lie to anyone. I have a lot of integrity and this business ethic I was not proud of. Needless to say, I never came back the next day.
What got me even more upset was that here I was with a representative of the company and an RVP (Regional Vice President) in a room with them telling how much money they earn (10s thousands a month) but failing to give me the ins and outs, the why’s or even how’s; the business plan; and they wanted me to be a part of their team. I felt really disrespected. As if my family and friends were of no value, but a dollar sign. Not my style! This has formed all the skepticism I have for the company.
However, not all recruiters are the same. Some may have good business ethics and spend the time training you. At least, that is what another recruiter promised me before. However, I was so disappointed in the company from the first go around that I refused to give them a second chance.
What I did look into the second time around was their financial products. I was interested in knowing what my options were because I am really concerned with my retirement. I sat in a couple meeting with the second recruiter, but again got little information of the services. Everything was focused on bringing me on as a representative.
First of all the life insurance policies were far more expensive than what I’ve seen in other companies so I crossed that out immediately. Then the retirement products were first of all, confusing, second of all, didn’t make financial sense. To my understanding anyone can do this with a plan and commitment in building their retirement portfolio. It is nothing special with Primerica. That being the reason I say you can do this with your local bank, and it won’t cost you a dime.
Your recruiter will be your main source for support.
It costs $99 to start because you have to do a background check. I believe this because someone with a criminal background cannot sell life insurance.
Then it cost about $25 a month for them to host your website. You can build your own website and get free hosting here. Not to mention your first initial training to help get you started.
I would hate to say that Primerica is a scam or even a bad company to join because it just wouldn’t make sense. That fact that it’s been around for so long, since 1977, should speak for itself. However, I am not a fan of their business ethics. Furthermore, it is extremely difficult to make a full time income with the company. You will literally have to put in thousands of hours to even begin seeing a part time or full time income. Because it also tries extremely hard to persuade people in joining leads me to believe that they only care about the money. I don’t know about you but that not the type of impression I want to leave in my footprints. I want people to admire me for honesty, ambition, and motivation. Business to me is far more than the money. Putting people first is my #1 rule.
With that said, as a businessman, I want to provide people with the best option for them, not for me. If that means that I lose money, then so be it. I would rather the person respect me for my honesty, then believe a lie. This is what true businessman-ship means to me. I firmly believe if you do anything for the money, or focus on the money, that your run will be less meaningful in many ways. Do it different, do it with honesty, be genuine, care about people, the money will come!
Tired of False Hopes and Dreams? Read About My #1 Ranked Product Here!
Primerica at a Glance…
Founded by Authur L. Williams Jr.
Price: $99 to start
Rating: (1 / 5)
VERDICT: LEGIT Not Recommended MLM Company
Have you had a personal experience with Primerica that you would like to add? This review was intended to help you make a decision on joining Primerica. I specifically used the information obtained from my own personal experiences with them. I hope that you do further research if necessary, and value my opinion. Any feedback will be much appreciated, it truly does help others! 🙂