On the day of the interview, I drove to the adress of where the interview was, I expected a big company with a sign of the name or something. Investment Adviser Firm Visit SEC Site. They kept touting how much of a hard worker I am and how valuable I would be to them. I dont know why, but I say okay. Ever since I graduated my undergrad Ive gotten random phone calls from shady looking companies that I never applied to. I go back into the bar and ask the bartender if a half-blind bartender named Mariah works there. After hanging up with him, I found this wonderfully put together article and took the time to go through most of the comments as well and found pretty much everybody in agreement that this is a scam. Many new agents are brought into insurance sales through Primerica's recruiting effort. Its quite pathetic that all of us in the comments are forced to search out information on the web rather than hear it straight from the snakes that work for this company. LOL, Lol thanks God I look it up and they give you such an hope like youre about to win big smh I waist my time dressed all nice thanks God I didnt register yet Im done with them. They prey on the uninformed, they want your warm market, and your warm markets warm market. Not going to the interview tomorrow. Take their advise and apply it on your own people. They explained how everything worked and it all seemed to be on the up-and-up. Primerica - Wikipedia Is Primerica Legit or a Pyramid Scheme? - Impact Marketer I then googled Prime America and this site was the first thing that popped up. There seems to be a way to make money but you have to be highly deceptive and cut-throat, oh, and pretty desperate to make money in MLM. DO NOT give them the time of day AT ALL. Yes so would you call NYSE a scam? I asked, how can I be that guy? (pointing to the top of the pyramid). THANK GODNESS I LISTENED TO MY INTUITION!!!!!! Not that it matters as essentially every three years the sales force has been completely replaced, except for the 2% who got in early years ago. We sell legit insurance, that either you already have, or might need at a price that is same or lower, with same or better customer service. Pyramid Schemes - FindLaw I will go but the moment I feel like Im being pitched, Im graciously declining and peacing out. The red flags popped up when she mentioned what the massive amounts of money people save, from paying 14 years of loans in 5 years is mathematically impossible for the average middle class consumer. I should be filling out my own application. I dont see any suggestion there that newbies may expect six-figure earnings? 2.) Primerica has the BEST products for the least amount of money in the industry! Thanks for all the information. Youre good people and will, no doubt, save other people from being duped. Whatever I did, however I asked, he would not tell me what positions he was trying to fill and that was a big red flag for me. it is clear that it is not a typical job if you build a business with them based on the comments. Also this company has to be licensed in each state by the Insurance Comissioner. He knew that I lived in close proximity to his company and asked me if I was still interested in finding a job. As he hung up the phone I exhaled to release the tense feeling I felt, then realized I had been holding my breath for most of the call. He told us the incredibly vague story of how he managed to get one individual from $20,000 in credit card debt down to zero and then into a mutual fund with a 9% interest rate. I would certainly warn anyone who might be roped into this to DO YOUR RESEARCH!! Im not sure why the internet continues to say PRI is MLM. What would that income really be after all expenses, office rents, etc, were deducted? She handed me a clip board and asked me to fill out the information requested. Thank God for the info I found out on the inernet. Now of course, I see several red flags in the situation. She sits me down and asked If I knew who was PRIMERICA told her NO, then she told me its company who works with mutual company that sale insurances, help middle class people get out of debits teach them how to invest ect, The red flags popped up when she said they will pay for the classes so I can get the Life Insurance, said each class is $500 dollars you will only pay $140 that for background check, finger prints and utilities. These MLM ventures seem to prey on the 9-5-ers making minimum wage with the promise of making a six-figure income. Lawsuit Against Expert Witness Highlights Issue of Conflicts of Interest, Jackie What an interesting comment! When this approach is adopted, the need for the original insured amount would not be necessary. Even the classes were weird and subpar. Thing is I have a nose for pyramid schemes and multilevel marketers, so my radar was going off right away when I heard all the generalizing. Obviously the recruiter was being paid on some form of commission so the sooner she got me in the office the better. Get the BLEEP out my house before I rip our your weave!! Unlimited income potential. Sooooo after reading all the comments, I will NOT be going. He gave lots of the same info and elusive answers reported here. (Of course, I would also counsel any folks I recruited to the effect that starting with Primerica part-time is the route to avoid disappointment.). Allow me to tell you about it. epipens, and or anything that a person needs to have to live and is stupid expensive. 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. I wasnt about to put my plans aside for something as ambiguous as that, and seeing other people talk about their experiences, Im glad I didnt. When I ask again what is the role of being a customer service to the company, all that he is saying was that I will be talking to their clients. So she asked me to go to an interview with her manager and she gave the adress and my interview is tomorrow but after reading almost all the comments above ive decided that im not going and im so glad that i saw this before going. She also had sold Avon at one time too. And I was like a job description of what Ill be doing and how the company works. So many of you cancel your interviews which I understand you feel you need to do because of what other people are saying about the company. Top 10 Famous Pyramid Schemes 2023 (And How to Avoid Them!) He specifically mentioned that he was looking for a qualified office manager and that my resume looked like I was very well qualified. Many thanks! When I looked up this company, I saw that they had an aggregate rating of 1.6 stars out of 5 on Consumer Affairs, and I felt simultaneously relieved that I didnt let them get my bank information by putting down the $99, and horrified thinking that I could have been among the many people that this company had roped into their scheme. Really 99 dollars for a background check and then more money was asked to start and get your license. Three days ago, a pair of women came into my store to purchase some items. After the presentation, the young man asks me if I have investment services or life insurance. Company name finally? I was in college when they reached out to me about coming there to work. Lesson learned. Needless to say I didnt invest the time and effort to go back there for the presentation that night. I want to get out of there now. I work full-time and train in martial arts. No one says where these happened tiothem, and i would like to know where they live, and how many people in that area experienced the problems written about here. We both waited for the process to start the woman came back in and once again introduced herself and briefly gave a biographical history of her beliefs and work with the poor. Thank you all for this i guess i wont be going to that appointment today. The one thing that did get me, however, is on Google Maps, the place did not have a name. i have 2 children and single. They had the chairs so close together, Im sitting next to strangers and our knees and arms are touching, so Im uncomfortable next to some guy. Its all true. Currently have a few positions available. I received a phone call yesterday and on my mobile phone, which despite the fact that I am looking for a job, I only mention in cover letters or to recruiters who approach me on my landline. Yes, the fake interviews have occurred. And no-load mutual funds through Vanguard or Fidelity beat the high expense ratios and sales charges of the ones Primerica offers. I wasted time I dint have wasted my energy got myself siked up for NOTHING! Looking them up, I found this thread and Im grateful I told him to take a hike. The scheme is called a "pyramid" because at each level, the number of investors increases. There are bad people in ever field of work, the financial industry is no different, which is why they have strict rules in place. I am so tired of these scammers connecting with you and then giving you a sales pitch. Multi-level marketing. Im no longer-second guessing my decision to stay far away from this group. I said i would decide on my method of payment. What legit company does that? It wont end up mattering in the long run anyway, youll have enough new recruits to train. I nodded silently, not wanting an argument. Enter your User ID and click Sign On. kids dobs and weights,etc. It just all seemed very cheap and tacky, like the trinkets around the office. A pyramid scheme is a fraudulent system of making money based on recruiting an ever-increasing number of "investors." The initial promoters recruit investors, who in turn recruit more investors, and so on. 3. Ive spent 175$ in total so far. Please name some that dont. I was going to an interview tomorrow and now I know its just some bologna. How what they do helps people. We were to ask them for a penny (hoping it would be a new penny because those are weaker/thinner than the old ones), and with the new penny we were to use the best cutting scissors ever to cut easily into the penny. Being lied to in order to get the person in for something that isnt even an interview is wrong, and therefore the person is a victim. I appreciated his candor. In fact, given his air of desperation in hard-booking like that, the evidence appeared to point to the contrary. It all seemed a little odd since they are a financial company and nowhere in my background is there anything pertaining to finance. Information regarding accounts at other fund companies may be found on those companies' websites. Ponzi schemes simply require a cash investment to earn returns. Today I received a phone call today from a recruiter who found my resume on Careerbuilder. Glad I found this page though so I dont have to waste my time or money. Now, I did not get asked to pay anything and was told that Primerica would pay to have me licensed, but I was also told to come back for an open house to learn more about the company. Before I knew it was Primerica, I thought I was going to be interviewing for Coldwell Bankers, who have a good and legitimate real estate reputation. They really wanted my husband to come but that still wasnt happening. Of course, now looking back and seeing it for what it was, I see why he wanted to hide behind secrecy. He told me to come in for an interview, and, sensing some possible sketchiness, I had my boyfriend come with me in case someone tried to rob me of an organ. 8 of the most notorious Ponzi schemes in US history Thank you for participating. Everyone should ask regulators to look onto all unethical part of lies of this legal but totaly unethical recruiting taliban mashine!!!! I know hedge funds can guarantee growth percentages, but never can they guarantee one that high. I figured she hired her son to do her social media campaigning and he was just barely starting/lazy. Well he cleared my somewhat strict prerequisites and I accepted his request. When I mentioned that it seems like a pyramid scheme the upline had a rebuttal for it immediately as they probably get hit with that comparison all the time. I thanked the VP for the opportunity and ended the call. A common line youll hear from Primericans is that, at the very least, they will offer you an inexpensive way to learn about the financial industry. So, with that experience under my belt, life goes on. I had an interview yesterday, and went, mainly because I was contacted about a trainer position, not a sales agent position. A recruiter found me on Linked in and said he was impressed with my resume and feels I am qualified for a position again like everyone else I asked for more information and very vague did he explain to me the concept of this company. Real estate agents and brokers are not in the business of recruiting. Asked for my phone number, stating that while he didnt know my situation, he would be interested in offering me a job. Didnt add up. Sell any and all medications over the world. If anyone has been approached, RUN!!!! This is a good money maker for Primerica and the finance industry in general- all on the backs of reps. Thanks for the heads up! My father passed away in May. I do believe my guy calls with an unknown number. Pull out your phone. He then asked me to write down 25 people in my contact list over 18 and he would call them for me to see if they would buy insurance and give me part of the profit and get me started. Would rather wait for another job. I went to the interview and we just hire anyone. I have a job, but looking for a change, I feel bad for people who are out of work and are honestly looking for a job! MLM, in contrast, is a scam based on the recruitment of people into an opportunity to recruit others its endless chain recruiting and thats a scam. Go get a real job and stop preying on innocent people trying to get ahead in life. I believe the only way to get ahead in America is by entrepreneurship, MLM and/or Franchise if you can afford it truth be told, if you think about a PYRAMID, you could look at your job as one. There are plenty of traditional types of jobs that do not require college but that pay much more than $10 to $15 per hour if the individual is willing to work hard to learn the job and move up. The lady that answered, said Prime America, how can I help you. So glad I read this blog almost got scammed. BBB Business Profiles generally cover a three-year reporting period. After dodging her for a few weeks I finally agreed and ate enough of the steam table food to be polite. Cryptocurrency: The Modern Pyramid Scheme - Berkeley Political Review I asked him if i got the license would the job be guaranteed and he said yes. I reluctantly agreed and was hired I went home that day and looked for primerica on the Internet and at how it is a scam.