To comment on a CURRENT post, click "post a comment" below the appropriate post or...
SEARCH for a comments on any business, product, or service below.
Custom Search

CLICK HERE to Add CommentSearch to Favorites

Get this post to be found more often... bookmark this item (click button below).

Saturday, May 29, 2010

Is Primerica legit?

Anonymous said...

Primerica, the company that likes to believe it is part of CITI group is now officially no longer sponsored by CITI group and helps me make my point even firmer in this next article that their is nothing legit about Primerica other than it is a well positioned scam that has earned millions in revenue on the misfortune of others. Back in 2004, Primerica had started to recruit just about anybody to be part of what they called the next financial boom. Their role was to sell financial products to low income families and convince them that they held the best products tailored to their needs. The concept of Primerica had some type of noble aspect to it, or so they wanted you and their workers (which were just about anybody that wanted to believe they could get rich) to believe.

In 2009, CITI group a former sponsor of Primerica which allowed them to use their name cut their ties in full as they believed Primerica’s business practices and core values to not be aligned with their brand…

What will Primerica do now?

Primerica will most likely continue to sell its very cheap and poorly designed banking solutions to those less fortunate folks that do not have the means or resources to educate themselves on what they are buying. This poor strategy has nothing to do with the reason which indicates Primerica to be nothing more than a revenue generating MLM scam also known as a Pyramid Scheme.

Primerica on the other hand does a good job of differentiating itself to the ordinary person, by letting them of their affiliation with giant CITI group and selling banking products which require licensing and heavy backing. In other words, Primerica is as big as a pyramid scheme as it gets.

How does it all work?

The recruiting process: Primerica will hire just about anybody from the street, most of their employees are recruited during their daily activities by having someone approach them and ask the infamous line ” Do you keep your options open when it comes to making more money?” This is a simple marketing approach, as no person will say “No” to this question and therefore creates immediate interest for those that want to believe in the easy way out. The person speaking with you immediately becomes your supervisor no matter what if you decide to join. The next step is them giving you a an address and time for you to come in and learn more about what he does to be successful. (TIP: If someone approaches you asking you f you would like to make more money, look at them and gauge if this is the end result you wish for?) Is this someone you can really look up to?

The orientation: This part gets really interesting as you enter the Primerica building, which is nothing more than a rented conference room that belongs to a non affiliated corporation. You are greeted by other members who claim to be senior members of the firm, which also claim to be there for a separate meeting. A Primerica rep asks you to fill out your information on a sheet, so they can call you to death if you choose to not join that night, and you are then told about this amazing opportunity by random members of the cult, which then decide to switch tables and do this odd thing of cross motivating all the guests. Then comes the best part of this which is the video. Primerica made this random video which describes what they do and their affiliations with larger companies like CITI. They spend a good 20 minutes discussing what they are, which is nothing more than an affiliate of CITI, they do not discuss their brand, as it is non existent but rather focus on CITI’s brand. (TIP: If a company refers another company more than itself when selling you on itself, it is most likely simply hiding what it really is) The later part of the video is a montage of cars, vacations and other perks that they describe as the benefits of being successful at what they do. They describe Primerica as an experience and discuss renting expensive cars, hotel rooms and traveling the world for free. (Tip: How many job interviews did you go to that try to sell you on working there by showing you a car rental or a hotel room?) The most interesting part of the presentation is the division of two rooms, one you sit in and the other the reps sit in and applause at random times making you feel as though they are celebrating, but in reality are trying to con you into thinking something greater exists here.

The selling point: Once the presentation is over, you get the benefit of more Primerica members trying to sell you on the idea of joining their cause and work for yourself. They will show you and tell you how financial freedom is a rewarding and never having to worry about your day to day job again will soon be your only worry. (TIP: Are any of the folks talking to you financially free?) By now you are sold on how you get started, and so they sell you on the idea of paying a $99 fee to get started which takes care of the licensing that they will help you attain. The reality however remains that they do not get you licensed till 6 months go by, despite the fact that you paid for it which means you must work referring business over to others who profit large while you get a small check before you can start selling. The idea is genius on their part as it keeps you from earning money and causes you to give up, which lets them keep your $299. (TIP: Why can’t they allow folks to get their licenses earlier if they are ready?)

The reality of Primerica: Pyramid schemes are not new and it could be argued that corporate america is nothing more than a Pyramid but the reality is that corporate america does pay you for each hour you earn and despite the fact that the reward may not be what you seek, it enables you to find opportunities instead of paying you, just to help you find ways to quit. Primerica is a perfect example of what every Pyramid Scheme should want to be like. Up until recently they were large and affiliated with giant CITI group, which is what every other MLM scheme out there like 5Linx and MonaVie want. if they could be related to AT&T or Pepsi, they would enjoy the same number of applicants coming their way. But they are not, as very few major companies want to ruin their names affiliating with pyramid schemes, as the consumer never wins giving the merchant a bad name and social standing. The collapse of CITI group has a lot to do with its bad decisions and bad associations that are now being undone to salvage one of the worlds largest financial firms. The final question to answer is why the luxury lifestyle if its not real? It is real but you do not benefit, you simply temporarily enjoy a piece of fake financial freedom while they save millions in tax write offs and unfortunately in this country luxury items worth more simply make a better write off than day to day goods


  1. This is the dumbest opinion I've seen yet. Get some actual facts before you start running your mouth. Did you even read the prospectus? I didn't think so. Primerica is a business opportunity not a job. Just watch what happens now that they are not constrained by Citigroup.

  2. This person's comments couldn't be farther from the truth. I got licensed in one month, am making money and was doing so since the first month I joined, have a plan to eliminate my debt years sooner than my original plan allowed and thoroughly enjoy what I do. As far as the meeting, the cheering you heard in the other room was due to recognition other reps were receiving due to being successful. Our company CHOSE to get out from under Citi and that was the best decision they have ever made. It sound like you were looking to make a quick buck without putting forth any effort, which doesn't work in the real world, and therefore feel the need to talk smack about something you have truely no idea about in order to cover up your lack of discipline and desire to succeed!


Welcome to
Please enter your comments below. Make sure to PUBLISH your comment below.
All opinions and statements shown on this site are those of the stated users, and not necesarily those of, it's Principals, or affiliates.