| Subject: THE TRUTH ABOUT PRIMERICA |
Author:
Michaelangelo
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Date Posted: 20:17:09 10/09/05 Sun
Author Host/IP: 24.8.38.242
In reply to:
Archile
's message, "Re: Primerica SCAM!" on 16:36:13 10/07/05 Fri
Here it goes...
I believe people deserve to hear the truth about Primerica.
1. Is it or is it not a scam?
2. Is it a pyramid scheme?
3. Do people really make six figure salaries?
4. What is Primerica? What do they do?
5. What are some reasons why Primerica is not suited for everybody?
6. What are some reasons why Primerica is awesome?
Before I answer the above questions, I want to provide some unbiased comments and observations for our readers regarding the previous posts. I noticed that all the negative responses were accounts of situations where they were pressured into giving contact numbers to PFS reps. Futhermore, one or two of the posts talked about additional fees that were brought up later after the fact.
Now, I will respond base upon my personal experience. I, too, was recently recruited and was highly sceptical. I completely understand why there would be some negative responses. One reason is because the company presentation provides this dream-like life and hypes up the benefits of the company. You probably hear "if its too good to be true then it probably is." This is a hard one to answer because I say it depends. What the company initially shows is totally achievable but requires a lot of work. I'm getting off track here. Back to my observation. From what I've seen and compared to people's negative accounts, I feel that those people simply had a poor PFS representative. Most people join and they really don't know what Primerica is and what's involved. Furthermore, the person who recruits them probably offers a poor explanation of Primerica too. It took me a while to straighten things out and really find out what Primerica is all about. SO...
1. Primerica is a not a scam. They do sell insurance, financial solutions such as consolidation, loans, and other financial services.
2. It's only characteristic similar to a pyramid scheme is that it is a multilevel marketing business. It can't be denied that the money you make really is base upon recruiting people underneath you and them making money, and your recruits recruiting and making more money. From www.pyramidschemealert.com ...
"Pyramid schemes, as currently defined by the Federal Trade Commission (FTC) -- and in many state laws -- are plans which
1. "concentrate on the commissions you could earn just for recruiting new distributors," and which
2. "generally ignore the marketing and selling of products and services."
Primerica does not fit either of the above definitions. Primerica sales is a comission-based business but a PFS's commission is not derived from a recruiting fee but from the sale of insurance, loans, etc. The $199 is used for a 3-day training course to allow you to pass the state license exam. Also, as stated in another post, Primerica helps front $1500 for the course.
3. Do people really make six-figure salaries? Yes, they do. So why don't more people in Primerica make more money? From what I've seen, most people treat PFS as a part-time job, slowly recruiting people and adjusted to PFS. To become successfuly, you do have to quite a few recruits underneath you. Futhermore, you have to treat PFS as a business that you run. This means training your recruits and getting them to work full-time underneath you. The higher-up you go, the more money you make. To do this, recruit more people and work harder to sell. It's definitely possible but it requires certain skills to successfully succeed short period of time. These skills, I believe, are leadership, communication, initiative, hard-work, focus, and other people/soft skills.
4. What is Primerica? What do they do? If you read my previous answers, you probably have an idea of what Primerica is. Primerica is not a scam. Their assets reach into the trillions. They make roughly 500 million a month? Or was that a day? They don't need $199 from new recruits to stay in business. Its only a measure of our commitment and for training. Primerica has a variety of sales packages including insurance, loans, investing, etc. They are not a pyramid scheme although they do use multi-level structure as a basis for their sales force. Please see above response for more info. Its commission-based. You receive comission base upon your sales and the sales of your recruits. Can't think of anything else to really add. Oh, the CEO Sandy Weills has appeared in numerous success magazines and business magazines. Look him up.
5. Why isn't Primerica for everyone? Because if you have a family, mortgage, or other financially crippling expenses, you probably wouldn't want to jump into Primerica full-time. That's what holds back the majority of Primerica sales reps and recruits. It also requires a very outgoing person who is willing to develop a successful sales team and have them succeed for themselves. You don't have the time because your current job prohibits you from working an additional job. You don't know how to run a business and don't want to try. Primerica is not a corporate organzation that runs you so you don't have that financial stability to start off with. Well, those are the reasons I can immediately think of that are holding people back.
6. Why is Primerica for you? If you want to become financially independent, Primerica gives you that opportunity. Work hard, advance, and build a business from Primerica and soon you can live on the commissions and investments beneath you. It's flexible and give you more freedom. It allows you to learn and run a business. A bunch of perks for making successful sales. You learn a lot about finances, business, and developing yourself from their training courses. I have a really great working environment. My mentor/upline is also very supportive.
I'm getting tired of writing and you're getting tired or reading. But bottomline is this. You spend $199 and some time with Primerica. Worst situation is that you learn some information about finances, lose $199, and some time. At best, you become filthy rich without having to work anymore. The harder you work the richer you get. That's one reason why I hate corporate america because you're value in the company is not base upon how hard you work. You'll still get the same monthly salary. You might say but I have financial security. Really? Companies rise and fall, you could easily get laid off especially with the current depression. Isn't it best if you had more control over your financial success? Once you've established it in Primerica, I don't see it falling base upon someone else above you -- easily.
If you don't take this chance, its fine because its your life.
*I am not a paid advertisor from Primerica either. It's just my experience and observations.
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