I've been reading some reports about Primerica online here because I'm currently in it and currently "part-time" with the company. I want to quit for many reasons, some of which I've already seen named, but also I wanted to see how many other people thought it was a big scam like I do.
I've been to the interviews like the rest of you and like most of you, you're right, it's the same old crap each time. Nobody answers your questions supposedly until the next meeting. I was suckered into going to a meeting, my friends thought it was a good oppurtunity for me to see what the job was since they didn't know what it was.
I went to the first meeting and blah blah blah blah, the lady sitting next to me (who also works there part-time) was shaking her head intently as if we were in church and the RVP (regional vice president) was preaching.
Now let me tell you why this company is a scam. Sure making 6 digits sounds terrific. And sure, I was into it thinking wow, I could make that much when? I felt confident that one day I would be making 100g or more to support my future wife and kids. Too bad the day will probably never come. Sure there's a chance that it might, but the possibility is slim to none.
During my interview, my trainer told me that they were very impressed. My trainer introduced me to other trainers and I met the big boss of the building. The next day my trainer called me telling me the big boss was very impressed with me... I said 4 words to the guy, "Hi" and "Nice to meet you, " and he was impressed by me? Something didn't seem right.
So, working part-time, after paying $200 just to make sure I wasn't a criminal, key word here is I paid them to become part of the team, I had to set up interviews with family and friends cause everything is based of referrals. They would have to be or they would never get a sale.
I had called 25 different people for interviews and only 7 wanted to do it and only 1 wanted to switch with them... My parents. But there were a couple of things that bothered me.
The first thing, we went to have an interview some family friends. These friends didn't have a whole lot of money. With the wife working for the school and the husband a farmer, they're income wasn't going to be the highest.
Now my point in this is after we had their interview and they had announced that they had no health insurance whatsoever, I thought this would be a great oppurtunity to help them with cheap prices and help them get the insurance.
We did an FNA (financial needs anaylsis) and as we were leaving my house my trainer says "We aren't coming back here for a second interview, we'll just drop this in the mail." I looked at her puzzled and that's when she said "They can't afford it, so there's no point in selling them this."
What happened to making people become financially independent? Help them become debt free and save money and such? Primerica doesn't help people who need it, they help people who are making 50,000 (husband and wife) a year or more. Which leads to how they make their money.
Another incident that pissed me off, we were at a second interview with my parents who had switched over loan with them so I could get some money (which I'll probably never get the money for it). My dad got suckered into thinking that he should switch his insurance too and sure we could help him out. My trainer got out the papers and my dad and mom signed them, I waited, excited, thinking I was going to get some more money.
My trainer had to leave for the night and as we were walking to my trainer's car I asked "so how much money did I make having them switch their insurance?" My trainer smiled at me, "Oh, you don't get anything, you don't have a license." I've gotten backstabbed pretty hard in my day, but that knife went through my back and out my chest. My trainer waited til after my parents had signed to tell me I was going to get no money out of it and didn't even offer me to wait till I at least tried for my license before having my parents sign.
Not one damn time through each damn meeting and presentation did someone say that while in training you have to have your license to get money for helping someone switchover their insurance. So, how the hell are you suppose to make money in training? My trainer took $300 dollars that should have went to me. Since she is a RVP she gets twice as much money for doing it and my trainer didn't even know who my parents were a couple of weeks ago.
On top of that, to even be licensed you have to take a cram course on a certain weekend 8 A.M. - 5 P.M. Both Saturday and Sunday. You have to pay (still the keyword) $91 to take the course and for the books. Seems easy enough, oh wait, I forgot to mention, unless you past the test the following Wednesday, you don't get any money back.
Almost $100 dollars down the drain that could have went to something more important. My trainer assured me that it was okay that I didn't get it the first time, because most people get it on the second.
So most people pay another $180 to Primerica to get a license for insurance along with the license itself costing an addition $60. So, in order to become a full member of the team, you have to spend at least $450 of YOUR money and you're working for them. Where the hell are you going to get $450 if your job, the one that should be paying, is charging you.
Lastly, you know how the feed you all that bull crap about you can make 6 digits or up to at least $50,000 a year. Look at the track record of success they give you at the interviews or presentations. There are supposedly 100,000 Primerica representatives and only 6,849 of those people make 50,000 or more a year. That's only 7% of the people working for them.
Only 3,011 of that 6,849 make 6 digits or more. That's only 3% of the people working for Primerica.
And all the crap about helping people, the RVP's do nothing to help people. They get other people to help people while they make money from those people doing work. I've been in the office building and you know what those RVP's are doing? Sitting around and drinking pop. Mess around on computers, make fun of one another, make pointless contest to try to get their recruits to work even harder.
My trainer held a contest that whoever gets 1st place (to win you must have 3,000 in premium insurance sold and 3 recruiters) gets $25 and two tickets to see John Addison (CEO of Primerica). Wow, I free fill up in my gas tank and a tickets to hear some old man babble the same crap everybody else has. My trainer would get about $3000 for me doing it and she would only give me $25 out of it and she wouldn't have to do anything.
They also tell you that as a district leader you can make $1,385 helping somebody with a loan, insurance, and investment. You saw how many people I got out of it. My parents were only helped with a loan only because they thought I was going to get something out of it.
What are the chances of selling all those things to one family? Slim to none... I switched my parents loan a month ago and I have yet to get the money for it.
So sure, all you Primerica lovers can diss me all you want, tell me I'm an idiot and don't know what I'm talking about but guess what, I know what I'm talking about and I know what you and everybody else in that wannabe scam do. You want to waste everybody's valueable time, knock yourself out.
Primerica says their company is like farming crops you don't plant your seeds (recruiters) now and harvest (make money) tomorrow, it takes time to make that money. I got news for you Primerica, your soil (ability to help people) sucks!
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