PRIMERICA [NF]

[Pachone]

HELLO OFC!

 

Its Pachone here wondering about the company PRIMERICA.

 

LIL background... PRIMERICA is a financial support company that sells insurance, loans, debt stuff and other financial services.

Apparently its like the biggest Financial group in the world.. alot of successful people work for them. ALONG with that they are part of CITI group which is like one of the largest companies in the world!

 

Now some of you may have already heard of Primerica and how they recruit people into selling for them and scamming people, and how these people are liars

I was invited to one of there meetings yesterday and all they did was blab about how much money you can make selling this insurance to families to help get out of debt and it was really empowering and convincing. Im actually going to give it a try...PLUS ill get my LLQP and other financial licenses which can benefit me...

 

Now Ive researched them and talked to a few people and apparently this company is a scam, and people are liars... which I dont believe... but theres gotta be something behidn all of this..

I think its just how Primerica goes againest the norm, and people are afraid to accept other ways to become successful. Primerica uses the Pyramid system which I find many people HATE, because they think its a scam..

I think it has some truth, but alot is propaganda...

 

Does anyone have any experiences with this Company??? Or further information

 

Thanks,

Pachone

[timmeh]

I honestly know nothing of the company. However a while ago I was shopping in the fishing section at Canadian tire and was approached by some guy trying to recruit me to do the same thing. I not totally sure of the name but primerica really rings a bell, but maybe the name was something else similar. Either way I told the guy i had no experience whatsoever with this stuff, was finishing school for something completely different, but he wouldn't stop harrassing me. Finally I gave a fake phone # to get away. He then started approaching others, all younger people. Now it may be a different company but he was talking about the same things you mentioned.

 

I've personally heard myself it's all a scam, but admit i've never really did much research into it. I would research this very seriously before you committ to anything if i were you, and do your best to talk with others involved. But i would be very cautious here.

Edited August 7, 2008 by timmeh

[ecmilley]

it's a bit of a scam, I know this from personal expeirence, part of your "training" is to phone all your family co-workers and friends to recruit... or sell insurance ect. you can make lots of money for the person above you in the piramid.

I am in sales for a living and this company makes me feel dirty just talking about it

[ricoboxing]

Crimerica is Legit company, that deceives people into thinking they will become instant millionaires by selling their over priced products. I know a Primerica "Financial Advisor", and I wouldnt ask him for any advise unless I wanted to here a sales pitch for his products.

[BillM]

scam scam scam, if you enjoy cold calling people, then by all means take the job, lol

[fishing n autograph]

Primerica is a pyramid scam. Avoid it.

[John]

OK, here's my two cents.........

 

Pyramid schemes are illegal, full stop. Multi Level Marketing is not, although it uses many of the Pyramid tactics. See the difference here http://www.competitionbureau.gc.ca/epic/si.../en/01230e.html according to the GC Competition Bureau.

 

Anything that involves MLM, again in my opinion, is unsustainable, meaning that it relies on you signing up others who sign up others, who in turn sign up others. In theory, each get a cut of the sales made by the people further down the line. What they don't tell you is that each level compounds itself........meaning, if you sign up 6 people and each of them sign up six people and so on and so on, by the time it have reached the 12th level you are at 13,060,694,016 if my math is correct (more than the current world population).

 

Tread cautiously....and.... if you asked to front any money, don't it is illegal.

 

PM me if you want to know any more....

 

John...

[ccmtcanada]

Here's an interesting read....

 

http://www.sequence-inc.com/fraudfiles/200...ncial-services/

 

My brother was 'recruited'. It's true that its all about recruiting others...they tell you to practice by calling friends and family with the sales pitch. He said that unless you are very upbeat, animated and can really motivate others by talking and presenting, you wont sell a damn thing. He was wary practicing on family....felt like a scam to him so he left.

[Headhunter]

If you think you have what it take to be successful in a company like that, then you should call me because I could always use someone who is not afraid to make cold calls!

If it feels like a scam and doesn't seem to sit well in your psyche, then it really doesn't matter what it really is, you will not be successful. In order to be successful in sales, you must have confidence in your self and your product/service. Based on what you wrote, I'd say keep looking!

HH

[Pachone]

Yeah everyone is right....

 

THANKS for the Article CCMT... its exactly how it works.. at first u feel hypnotized to commit... after further research and consulting I dont feel its for me... not because I cant do that stuff, but because i wouldnt feel comfortable 'tricking' people by empowering them with the belief on it... Its weird :S

 

Im still going to go check out the interview and see if someone I can get my LLQP out of it...

 

Thanks OFC

[Roy]

Pyramid schemes are illegal because no product changes hands. Multi level marketing is legal (for now) because there is a product to sell. Where MLM fails is that they load the Mary Kays of this world with more product than they could ever sell.

 

I respectfully submit that the primerica model is a pyramid scheme and therefore illegal as their 'product' is debt consolidation, financial services and life insurance all of which are intangibles.

 

Don't go recruiting/selling to people who were unable to administer their financial house in the first place. You may make a few dollars but eventually, the bad karma will come back to bite you in the butt.

[Hooked]

Stay away from them! They are a bunch of scammers and liars. Trust me, my wife convinced me to go with them on a consolidation loan, and been screwed ever since.

[fishinggeek]

OK, here's my two cents.........

 

Pyramid schemes are illegal, full stop. Multi Level Marketing is not, although it uses many of the Pyramid tactics. See the difference here http://www.competitionbureau.gc.ca/epic/si.../en/01230e.html according to the GC Competition Bureau.

 

Anything that involves MLM, again in my opinion, is unsustainable, meaning that it relies on you signing up others who sign up others, who in turn sign up others. In theory, each get a cut of the sales made by the people further down the line. What they don't tell you is that each level compounds itself........meaning, if you sign up 6 people and each of them sign up six people and so on and so on, by the time it have reached the 12th level you are at 13,060,694,016 if my math is correct (more than the current world population).

 

Tread cautiously....and.... if you asked to front any money, don't it is illegal.

 

PM me if you want to know any more....

 

John...

 

John, interesting opinions! I agree this is likely a scam, but I'm not sure businesses operating under MLM structures are always unfeasible. To me, it is no different than other zero sum games such as the markets for futures and other derivatives. There are losers that pay the winners, but the trick to profiting is being a winner. Even if everyone in the world plays and there are policies to be sold, there would be a select few who would greatly profit, and the majority would lose. And if all the players were willing to risk this zero sum game for a shot at great profit, then maybe it's sustainable. Lottery players have a similar mind set.

 

 

Pyramid schemes are illegal because no product changes hands. Multi level marketing is legal (for now) because there is a product to sell. Where MLM fails is that they load the Mary Kays of this world with more product than they could ever sell.

 

I respectfully submit that the primerica model is a pyramid scheme and therefore illegal as their 'product' is debt consolidation, financial services and life insurance all of which are intangibles.

 

Don't go recruiting/selling to people who were unable to administer their financial house in the first place. You may make a few dollars but eventually, the bad karma will come back to bite you in the butt.

 

Interesting perspective, Roy! I respectfully disagree with the tangible part of it though. I think "products" need not be tangible, that is reserved a physical "good". For example, a rare stamp is valued at well over its face value, so is this tangible or not? Based on your argument, I'd guess you'd agree it was tangible but it has far less physical mass than the paperwork that Primerica would give you if you bought an insurance policy, applied for a loan, or paid for some type of financial plan. I'm no legal expert, but if the pyramid scheme test were a transfer of product, be it a physical good or a service, than Primerica would not be such a scheme.

 

But I have to admit my friend sat through one of their pitches, and boy did it sound like a scam in my opinion. My friend didn't know what it was at the time, thought it was a job seminar or something like that, but he were really laughing it up after 10 minutes into it. He stayed for the free coffee then scrammed. If it was me, I'd stay far away from any business opportunity that relied on recruiting others.

[Guest lundboy]

Primerica is a pyramid scam. Avoid it.

 

Definitely not on the up & up... Kinda like government, except they can't forcibly reach into your bank accounts

Edited August 7, 2008 by lundboy

[Clampet]

If your willing to put that amount of effort into Primerica I suggest you give either Collections or Telemarketing a go. You can be sure of receiving a paycheque for your efforts.

With Primerica you will bust yer tail for very little to show for it, and b4 long you will give up. They will just turn around and "hire" someone or ten others to fill the slot. Any company that is constantly hiring should sound an alarm.

[figureight]

wow they really brainwashed you quickly

[spinnerdoc]

they flash your dreams in front of you and make you think you can achieve it without "hard work " and effort all you have to do is call. i have been scammed to having a fellow over to have a financial analysis and i told him flat out no. i started getting suspicious when he started asking specific question about who i invest and bank with and stuff.

one tip , if you join-- you will loose a lot of your friends and most likely family as well.

[pikehunter]

Do you like your family and friends? If you do then drop the idea of hooking up with them instantly!

 

This outfit is not new, they have been around along time, in fact they are the re-formation of another pyramid type outfit that was forced to close down.

 

I had an office about 16 years ago and 2 guys in the office next door were into Primerica. They sat on the phone all day, day in and day out making cold calls. They were ruthless in their tactics trying to get people interested in coming out to a seminar. The main prey at that time was the vulnerable people in our society, those a little down on their luck, unemployed or just not making enough money, people who were easy to sway.

 

I was also on their hit list. Day after day one of them, usually the ring leader, would pop in with a grin stretching from ear to ear and always started up with friendly banter and then the strike would come! I should have tossed him out the first time as he was invading my territory and never had any intention of ever buying anything from me but was trying to sell me on their scheme. I did eventually go to a "seminar" but only out of curiosity as I wanted to see if I could learn anything new. What a mistake! as this made the daily office visitations from them even more grueling.

 

If you value your friends and family do not join up with them, run the other way and screen your phone calls for a long time to come. Once in they will pester you to get every single soul you know or encounter to buy into their nasty little scam. You will no longer look at people as people but as victims! I know I said earlier they prefer to focus on the vulnerable but they will stop at nothing! Every person that can talk and or hear is considered game. And every one that gets dragged in has the potential of inviting in at least 25 more into the black widow's web.

 

The only good part of teaming up with them is you can learn some ruthless hard sell tactics and become a little thick skinned to rejection.

 

Be careful about anything that sounds too good or easy.

[Mounbatten]

Primerica is Scam, Pyramid . . . In my oppinion there are bigger scam in Financial Industry (i.e. Banks & Wholelife Insurance Companies). Banks, they can legally robbing middle income families by selling them GIC at 3% - 4% and entice them taking line of credit or credit card at 9% to 19% (that is 5% to 16% profits for the banks) . . . Do you ever wondered why Banks and Whole Life Insurance Companies are the most profitable Corporate Canada and the middle income Canadian Families are drowning in Debt? By the way why do banks charged customers fees using their money? . . . You've been scammed by you bank!

 

Mortgage Life Insurance, this is another biggest ripped-off by banks for selling it to the home buyers. http://www.cbc.ca/marketplace/2008/02/06/in_denial/

 

Primerica does not offer a Job . . . Primerica is offering a business (I guest if people still in employee mentality, they just don't get it).

 

Primerica is Pyramid??? . . . The person on the top is making the most money! . . . So why are people working in Wal-Mart or other Big Box store are making minimum wages, the supervisors are making slightly more money than the people they supervised . . . the department mangers are making more money than the supervisors and the store managers are making the most money about 4 to 5 times more than the bottom position? In every Corporate Canada, people at the bottom who do the most work are making the least amount of money, the people who are at the top are making the most money and the people at the bottom of corporate pyramid have very little chance to move-up to the corporate ladder - Mmmmm it looks like Pyramid or MLM or what ever you want to call it.

 

What about the company you work for . . . . do the owner or your boss making more money than you are and you do all the work? Mmmm . . . it sounds like MLM to me . . . someone else is making money of your effort.

 

Doesn't matter where people work, if the company, the boss or the business owner is not making profit of your work . . . you wouldn't be in their pay roll . . . because you are no longer asset, you are becoming liability to them.

 

The only way no body making money of you is becoming self-employee.

 

Primerica is not for lazy people . . . . Lazy people love to be slave to their job and making minimum wage.

 

Primerica is Scam? People . . . you like it or not you are being scam every day without realizing . . . i.e. I have no problem purchasing an item at higher price than buying from bulk . . . I understand company has to make profit and to cover overhead expenses, but paying $1.25 for a bottle of water from Tim Hortons or other restaurants when only cost about 12 cents in bulk sore . . . To me it's scam. Do you ever rent a car or book a hotel? Do you realize that they scammed you (Cheaper in mid week, they charge you more in weekend)?

You have been scammed by your cell phone carrier (Bell, Rogers, Telus & Fido) for non-regulated $6.95 access fee or license fee on your cell phone . . . Where do you think this fee goes to? It goes directly to their profit margin!

 

By the way Primerica's FNA is the best plan in the business.

 

So for everyone in this board . . . If you think Primerica is scam, talk to your bank manager or your insurance agent of your financial planer and ask them for a written Financial Game Plan that shows you your "Debt Freedom Date and Your Financial Independent Number and how to achieve your Financial Independent.

 

LLQP: This complete course in local colleges are costing the students approx. $7,000 - $8,000 with text book, provincial License registration is $150 and 1 year E&O cost over $1,000. - Primerica only charge $99 - this is no brainer (I guest most people have no brain).

 

The last things is - Why 95% Canadian are broke (Oh yeah . . . because they have a good job). Why other 5% are wealthy (Oh yeah . . . 80% of that 5% they don't have a job . . . they have business).

 

So . . . the conclusion is if you don't mind being broke, stay at your job, but if you want to become wealthy & successful . . . get into a business. Primerica is not the only real business you can get into, but don't expect paying $99 to get into other a real business (not self-employee).

 

Become Wealthy & Successful is not easy . . . If easy everyone will.

[huntervasili]

Hmmm, I want to google Primerica and see which forums I should try and brainwash and lol. I have seen them at convention centres and to be honest it is sickening how they can attempt to trick people into getting into the business. Not saying that all business is clean but when you have to scam others to ensure you're not the scammed you know there is something a little dirty. L Mounbatten, what's you're favorite species of fish to target?

[ricoboxing]

Primerica is Scam, Pyramid . . . In my oppinion there are bigger scam in Financial Industry (i.e. Banks & Wholelife Insurance Companies). Banks, they can legally robbing middle income families by selling them GIC at 3% - 4% and entice them taking line of credit or credit card at 9% to 19% (that is 5% to 16% profits for the banks) . . . Do you ever wondered why Banks and Whole Life Insurance Companies are the most profitable Corporate Canada and the middle income Canadian Families are drowning in Debt? By the way why do banks charged customers fees using their money? . . . You've been scammed by you bank!

 

Mortgage Life Insurance, this is another biggest ripped-off by banks for selling it to the home buyers. http://www.cbc.ca/marketplace/2008/02/06/in_denial/

 

Primerica does not offer a Job . . . Primerica is offering a business (I guest if people still in employee mentality, they just don't get it).

 

Primerica is Pyramid??? . . . The person on the top is making the most money! . . . So why are people working in Wal-Mart or other Big Box store are making minimum wages, the supervisors are making slightly more money than the people they supervised . . . the department mangers are making more money than the supervisors and the store managers are making the most money about 4 to 5 times more than the bottom position? In every Corporate Canada, people at the bottom who do the most work are making the least amount of money, the people who are at the top are making the most money and the people at the bottom of corporate pyramid have very little chance to move-up to the corporate ladder - Mmmmm it looks like Pyramid or MLM or what ever you want to call it.

 

What about the company you work for . . . . do the owner or your boss making more money than you are and you do all the work? Mmmm . . . it sounds like MLM to me . . . someone else is making money of your effort.

 

Doesn't matter where people work, if the company, the boss or the business owner is not making profit of your work . . . you wouldn't be in their pay roll . . . because you are no longer asset, you are becoming liability to them.

 

The only way no body making money of you is becoming self-employee.

 

Primerica is not for lazy people . . . . Lazy people love to be slave to their job and making minimum wage.

 

Primerica is Scam? People . . . you like it or not you are being scam every day without realizing . . . i.e. I have no problem purchasing an item at higher price than buying from bulk . . . I understand company has to make profit and to cover overhead expenses, but paying $1.25 for a bottle of water from Tim Hortons or other restaurants when only cost about 12 cents in bulk sore . . . To me it's scam. Do you ever rent a car or book a hotel? Do you realize that they scammed you (Cheaper in mid week, they charge you more in weekend)?

You have been scammed by your cell phone carrier (Bell, Rogers, Telus & Fido) for non-regulated $6.95 access fee or license fee on your cell phone . . . Where do you think this fee goes to? It goes directly to their profit margin!

 

By the way Primerica's FNA is the best plan in the business.

 

So for everyone in this board . . . If you think Primerica is scam, talk to your bank manager or your insurance agent of your financial planer and ask them for a written Financial Game Plan that shows you your "Debt Freedom Date and Your Financial Independent Number and how to achieve your Financial Independent.

 

LLQP: This complete course in local colleges are costing the students approx. $7,000 - $8,000 with text book, provincial License registration is $150 and 1 year E&O cost over $1,000. - Primerica only charge $99 - this is no brainer (I guest most people have no brain).

 

The last things is - Why 95% Canadian are broke (Oh yeah . . . because they have a good job). Why other 5% are wealthy (Oh yeah . . . 80% of that 5% they don't have a job . . . they have business).

 

So . . . the conclusion is if you don't mind being broke, stay at your job, but if you want to become wealthy & successful . . . get into a business. Primerica is not the only real business you can get into, but don't expect paying $99 to get into other a real business (not self-employee).

 

Become Wealthy & Successful is not easy . . . If easy everyone will.

is it a part of the program for Primerica reps to sign up on fishing boards to defend Crimerica?

 

Your post would have a lot more credibility if you knew proper english, and didn't sign up here just to defend Crimerica. But I guess you really wanted to talk about fishing, but just clicked on this thread by accident.

 

Oh well must go to job now. I am 95% people.

[Mounbatten]

What business do you own?

 

I've looked into other businesses including Real Estate before I've got involved with Primerica . . . I did want to spend my $50K to $100K to buy myself another Job and I don't like selling.

 

If you study the number . . . helping people saving their money doesn't sound like scam.

 

http://www.yourmoneybook.com/

 

What would you do if you have $1 million - Do you buy McDonald's or Tim Hortons Franchsie? Do you know the average income after all the expenses paid & all the headache, the owner only makes $80K to $100K.

 

Or put your $1 million into Mutual Funds & Receive annual 10% ROR (with no headache)?

 

I like all kind of fish.

Edited August 21, 2008 by L. Mounbatten

[BillM]

Where else can I get a job that requires me to pay to participate. Do you enjoy paying commissions to the people that recruited you? How many peolpe have you recruited in order to get paid? And you say you aren't a sales rep..... riiiiiiiiiiiiiight

 

 

If anyone is stupid enough to believe this is anything other then a 'legal' pyramid scheme they need their head examined.

 

 

Sign me up!!!!!!!!!!!!!!!!!!

[Pachone]

TO all of the skeptics.... NONE of you have ever given Primerica the chance to explain exactly what they do and how they do it....

All of you are going on the basis of something someone else has told you, or some dumb forum that somehow proves itself to you that its the truth..

 

Ask yourself this...

Why would the Canadian Government allow this scam to operate and or give people licenses to operate?

If I were to 'recruit' you... why would it be such a shame that i make money, making you money? you dont want to make money?

What other company do you know that allows you to own ur own business without a 2838209$ investmant (i.e. start a restaurant)

 

I submitted my business agreement and will become a Primerica rep! Weve already saved my family tons of money and we HELP people... the product sells itself\

 

L mounbatten explains it completely.

 

All of you are probably living the scam..... and when Primerica goes public on the NYSE or when it becomes more popular in Canada, you will understand thats its the banks and the insurances companies that have been taking your money. Primerica simply helps you find ways to save, and use those savings to re-invest.

Banks dont FIND you the money...

Insurance companies dont read the fine print....

 

The instant you give it a chance, your mind will change. Just NONE of you have given it the chance. WHO would know more about the company? YOU or someone that Represents them?

 

If all of you "non-conformists, or non-believers" know it all... then please... tell me and the rest of the company what we are all missing out on!

[ricoboxing]

I like all kind of fish.

especially the ones that you reel into your downline!

 

BTW were you the one to recruit Pachone in your downline?

 

I find it quite a coincidence that you just "stumbled" on this board, and your first 2 posts are in this subject. I have a feeling that you heard about this thread from Pachone and came on here to defend him.

 

So you like all kind of fish eh?

Edited August 21, 2008 by ricoboxing