| Subject: Re: Primerica SCAM! |
Author:
Ron
|
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Date Posted: 13:26:27 11/27/06 Mon
Author Host/IP: 70.71.247.253
In reply to:
steve
's message, "Re: Primerica SCAM!" on 16:47:15 02/16/06 Thu
I have experience with other MLM companies and currently started with Primerica. Yes I consider Primerica an MLM marketing group but by definition of FTC, it is not a pyramid. Simple definition of pyramid is when you actually make money by simply recruting people. How is that accomplished? When you get involve with a company and you need to buy a certain amount of products from them just to get started, and the person who recruited you makes a portion of the new recruit's sign up purchase, that's a pyramid. There are other little factors, but that is the main one. With $200 sign up with Primerica, there is hardly any way to make a killing of that. And some of you already know that the sign up fee is actually used to help you get licensed in your state or province(Canada) along with some other administration stuff.
But what really attracted me to this company? I used to think that I wont want to get involve with Primerica for the fact that I dont trust anyone to tell me about finances who just started doing it. But yet, we do this all the time when we hear a friend or co-worker who tells us the good deal they got from their insurance company or a good rate they got from their Bank. First off all, before you can sell or market anything thru Primerica or any other financial company, you need to be get your license. There are 2 main licenses you need and that is Life License and Mutual Fund License. These are State/Provincial regulated Licenses and you take the exam along with the same people from all this different financial companies. So it is no more or less qualified than other license agents from other companies. Explaning a basic financial plan to anyone shouldnt be too complicated, otherwise, how can you expect anyone or any family to understand what you are talking about if they cant see the benefits when you sit down with them."Buy Term and Invest the difference" seems simple enough for me to understand.
What makes this different from a lot of other MLM companies is that once you are licensed, you dont have to actually recruit to make any significant amout of money, even tho duplicating (recruiting)could multiply your income a great deal. If you dont want to recruit, you basically work just like any other agents for other different companies. With a lot of other MLM company, they rely on personal use and a few retails to create volume. If you try to retail them, you will be spending way to much time for so little reward, therefore, you would have to recruit to get any significant income.
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