Primerica Scam Review – Is it a Pyramid Scheme?
If you have been looking for ways to make money online then you must have been given this option by one of their representatives.
This company has made claims to help people become financially independent. It offers people the chance to participate in their program meant to help folks manage their funds and debts, and recruit as well. They say it is very lucrative that you can even get to make thousands and hundreds of thousands of dollars every month. A good number of folks who have used it to try to make themselves independent have had quite another story.
My Primerica review looks at the system very closely and helps you know what exactly you will be immersing yourself into.
Product Name: Primerica 
Website Address: www.primerica.com
Owner: Arthur L. Williams
Price: $99 for membership + $25 for training (optional)
Rankings: 69 out of 100
Primerica Review – Introduction:
Don’t you just hate the enticing lines to make you want to join a program? I have been on this road a good number of times.
You will get someone on social who works for a certain company leaving a few words on your timeline like “struggling to make ends? This is what you need to become financially independent throughout your life!”
And, as fate would have it, you click with so much anticipation of something so easy and which is free to work with.
But when you get to the actual program being recommended to you, you find that, instead of you receiving money, you have to sign up for some membership and pay the membership fees to set yourself up to earn.
This is pretty common with companies that use Multi Level Marketing scheme to operate. And you are going to want to be very careful with these kinds of companies as they have been marked as the most scammy strategy online.
A lot of scams are using this tactic and their complex pay plan to rip you off.
That is why you are going to want to take time to learn more about the actual system before you take the plunge.
I have been around these tricky systems before, so identifying if they are legit is something that has grown into a skill.
I will be telling and show you where this program stands when it comes business ethics and legitimacy.
What is Primerica?
Thi is a finance based company that sells a variety of debt control, investment, and insurance products.
You will find them selling things like auto insurance, segregated accounts, managed accounts, prepaid legal services, life insurance and mutual funds.
It is also a recruitment program that gets their representatives recruiting other people into it. They also get to use the financial products and sell them to other people as well.
It is located in Duluth, Georgia and was launched back in 1977 by Arthur L. Williams.
This company is very popular within the United States. This year they have more than 110,000 representatives who have signed up with them.
There are also a little over 4 million people using their life insurance package, and about other 2 million people using the investment account meant for clients.
This just shows you how reputable this company has become. More than making money, people are interested in using their packages rather than getting recruited in their payment plan.
And this gives you the upper hand when it comes to selling their products.
How Does it Work?
To work with the Primerica, you have first to sign up as their agent or representative. This will cost you a fee of $99 to become one.
You are also given the option of paying $25 per month to be receiving training for selling their products as well as making recruitments.
In the training, you will get taught things like variable annuities, mutual funds, long term insurance, homeowners insurance, credit monitoring, term life insurance, debt management plans, and other legal services.
You will also be getting training manuals, online training courses and DVDs to help you get well informed about the opportunity, and even get the required license to work as a legal advisor and agent of Primerica.
And you will have to study if you are to become successful with this income opportunity. You will also have to take exams to get your license.
This means you will need to get prepared to take the lessons, study for them and then go for the exams to be able to know how to approach your prospects well.
One of their strategies to making recruitments and selling their insurance packages is called warm market. This is where you are told to start selling to your closest people.
Your family, your friends and your co-workers are your primary target and you will have to push the products and the membership them if you are to generate revenue.
Payment Plan:
The payment plan of this program keeps evolving so it is hard to give you an accurate plan that you can use to evaluate the opportunity.
But they use Multi Level Marketing to pay their members. If you haven’t heard of it before, it is a plan that pays you to sell products and to bring more members in the program.
Recruiting is the best way to make more money, although you will also be told to strive to sell products.
The thing is, a program that only sells membership without any physical products is basically called a pyramid scheme and they are not allowed in some countries.
But selling both products and the opportunity is legit.
When you recruit someone, you will be getting a certain percent cut on their membership fees as well as the training if they choose to sign up for them.
To become a success at this, you have to be really good at talking to folks. If you are not a talkative strategic person, it is going to be very hard to sell.
Basically, network marketing or Multi Level Marketing is a good strategy if what you are selling is good and reputable. And if it’s something people can benefit in terms of knowledge and money.
Who is it for?
This kind of opportunity is good for those who are looking for ways to make money while learning. This is a great opportunity to learn about finance and get some reliable monthly income off of it.
If you are also talented in recruiting, this might be another chance to make a sustainable income stream as there is no limit to how much you can.
The many people you can recruit, the more the income you can be receiving every month.
Pros and Cons:
The Pros
• They can pay you very well if you ready to give the opportunity more of your effort and time.
• It is a reputable company so you won’t have any problems trying to show people it is safe to work with.
• Many people have bought their insurance packages, more than 5 million people are using their products.
• Primerica has been around from 1977. More than 50 years in business is enough to show you how serious they are about it.
• You do this job when you want. This means you can make it your side hustle as you try to build your network and make it your full-time thing when you get more recruits.
• They sell legal products that people are looking for. You don’t have introduced any new products.
• They offer you a training to increase the chances of making sales faster and in an ethical way.
• They give you the option of enrolling in the training or using your own knowledge. You are at liberty to learn, no obligations.
The Cons
• Many people don’t want an opportunity that you have to learn technical stuff and then take months to start earning a reasonable amount of income.
• You are trained to start selling the products to your family, colleagues, and friends. This can be annoying to them if they feel you are pushing them to the program.
• Many representatives in other Primerica reviews have complained of poor payment plans and low salary increase.
• Many people want the products, not the membership which has been found to pay the best.
• Legal products are more expensive than the standard insurers. Their competitors charge way less which is not good.
Final Verdict:
To put it in few words, the company is great as it is well known in the industry and has been operating for decades, so you don’t have to worry about trust issues.
However, the fact that the products are at times expensive and makes them appear scammy, can make it hard for you to sell.
Anyways. If you really believe you can make money with it, go ahead and see how things will go for you.
Final Verdict – Legit!
Product Name: Primerica
Website Address: www.primerica.com
Owner: Arthur L. Williams
Price: $99 for membership + $25 for training (optional)
Rankings: 69 out of 100
To me, this program is a matter of chancing. You might sell well or not at all. And this is not something you want to do, right?
You should get something which is more assured in terms of payment and involves converting strategies. I recommend using alternative strategies like online marketing.
You will only have to blog about your passion and then give a top recommendation for products within it. And that is how you will be making sales.
If you want to get a strategic approach to this technique, you may want to take a close look at my #1 recommendation.
