Primerica Financial Services Reviews

Beth   wisconsin

I have no idea if this is a scam, a MLM, or just a great opportunity, but what I do know is I DO NO like the way they recruit their future employees. I am currently looking for work, but nothing even close to this type of work. I have one MS and am working towards a MSW and that is the field I am looking in. I get a cold call from a guy wanting to prescreen me for an interview (I didn't apply for this so why are you prescreening me). I said ok. When I realized what kind of job it was, I said, sorry but this is really not the type of work I am looking for. He said why not? I said because I was looking for the social work field as I was going to school for that. He got quite snippy and said well, didn't you get into social work to help people, didn't you? (somewhat accusatory)well that's what we do. WHAT??? Also he told me I would be a good candidate for financial advice to people. WHAT???? My credit stinks, I have no job, and I have tons of student aid debt from myself and child. So they may afford some people the opportunity to have financial success, but since that is not what motivates me, it is not enticing to me. I do not appreciate the way they recruit and they need to think about what kind of image they are projecting when using these tactics.

G.H.   Illinois

FACTS:

Primerica is regulated by FINRA (Financial Industry Regulatory Authority), a member of the BBB, an A+ rated company by A.M. Best, and is a public company on the New York Stock Exchange (PRI).
Now that I have gone over some facts about the company, I want to share my opinion.

I have been working for PRI for four months now. In my first four months I attended all of my meetings, did everything my trainers/mentors told me to do, and the results have shown- I got promoted to District Leader at the end of 4 months (By the way, promotions are all work-based, there is no favoritism, you just have to achieve a certain number of recruits + sales requirements).

This business is NOT for everyone. Each office is also different in their approach to recruiting, training, and mentoring. In our office, we do NOT bring everyone we meet on board. People interested in our business go through 2 different interviews where we find out about their individual goals, their work ethics, what they are looking to get out of this opportunity, etc.

If your goal is just extra monthly income, we don't push you to recruit recruit recruit! We teach you how to present to clients and help you sit down with people and close business so that you have that extra income each month.

If your goal is to make a lot of money, then yes you will have to recruit AND TRAIN people, but most importantly we NEVER tell people that it will be easy or that they will acquire a lot of money fast!

Most people OVERESTIMATE how much money they can make through Primerica in a year, but they UNDERESTIMATE how much they can make in 2 to 5 years.

The reason why a lot of people don't succeed is because they are used to working FOR others, instead of working for themselves. When you work for yourself (Primerica) you have to learn how to set goals, manage your time, be productive, pretty much everything the normal "job" working person is NOT used to.

Primerica teaches you how to do this! We teach people how to change their way of thinking from job-workers to business-owners, and it takes a lot of time and work to be successful.

I hope this clears a few misconceptions out there, and I would like to end on this point: NOT ALL PRIMERICA OFFICES/RECRUITERS/TRAINERS ARE THE SAME!!!!

Some offices recruit the WRONG PEOPLE, and teach the WRONG PRINCIPLES, and have the WRONG INTENTIONS.

IF you want to try this business out, FIND A GOOD HOME OFFICE, with GREAT people. The way to do this is to visit each office around your area and ask questions, talk to people who have been working for under a year in that office and get their opinions on the mentors/trainers and if you see that the people in that office don't just hire anyone, and aren't just pushing recruits, and aren't just trying to tell you you can make millions fast, then you have found a good office.

This is truly a legitimate and great opportunity for people who want to become independent financially and are willing to do the work and follow their mentor's teaching.

Karla   Los Angeles

First, I'd like to start of by saying that obviously Primerica is not for everyone. It is for those people that are hard working and are willing to go the extra mile to make their dreams come true. Primerica is not a scam.

PRIMERICA WORKS--IF YOU WORK.
Those people that complain about getting paid by commissions already have an employee mentality and Primerica is probably not going to work for you. This company offers you the chance to create your own business. It offers the best part-time opportunity from any other company out there. (No "McDonalds" is ever going to give you the same opportunity, and if they do; no where near in the same amount of time.) I believe it is a great way to make income, if you're a student in college or already have a job and are looking to make extra money.

I suggest doing better research on the company. If the good reviews still don't convince you, then there is nothing for you to be convinced about. This company searches to recruit good people that see the potential this company has to offer, they don't seek to change anyone into believing anything. On the contrary; they motivate you to be the best you can be!

Not only is it a great opportunity for work, but can you just imagine that with one hour of sitting with a family you can have a profound impact in their life. Primerica helps families be debt free. They help families be PROPERLY protected, and guide them to save for retirement and more...

Those that have had bad experiences or feel that Primerica is a scam, you have probably been in the hands of a not so good agent/office, but you cannot judge the entire company based on that!

REMEMBER;
"Nothing worth doing is ever easy."

"SEE YOU AT THE TOP!"

Greg   Location unknown

I am just warning people not too take too much from these posts they could be from 1 agent who lost business to a Primerica agent or a 40 year old living in his/her parents basement. In my city I used to run Cnc machines and am always being asked to work for plants, so let me see I run the machines, you charge you customer 65 dollars an hour and pay me 20? and my manager who does nothing makes more than me? Forget it. 80% of people work for someone and make them money get used to it!

Michelle   Location unknown

I came across this company through a friend. And she came across the company through her cousin. Her cousin came across the company through her boyfriend. The chain of events go on and on...but thats not why I'm here. I want to write out my grievances about the pitch this company gives to gullible recruitment and especially about the recruiter who tried to get me on board.

When I went to the office and shook hands with my recruiter immediately I found that I did not trust him. His handshake was limp. Call me old-fashioned but when a mans handshake is limp he is not to be trusted. He has no sense of character and a red flag went up in arms.

I sat down with my friend to hear the pitch. The lady drone on and On and ON about "how much money you (could) make" and how "fast the business (was) expanding" and how many people they had working for them. All the while I sat thinking, "Ok, but what would I be doing?" Now, call me a skeptic, but I'm pretty sure if your company makes as much as they say they do, then you wouldn't have to rely on faulty numbers and statistics. Say, giving the averages of your top sellers instead of all reps as a whole.

Finally we got to the explanation of what the company actually did. At least very vaguely. But still, I was left with not an ounce of a sense of purpose. All I could think of (from what the presentation gave me) was I would be selling insurance to poor old people and I had to Recruit, Recruit, Recruit.

After it was all said and done my recruiter came back and pitched that he needed people he could trust to build his team and could I be one of those people? When I was reluctant to speak he spoke of the rigorous training I was expected to partake in. The test I had to pass. And the hours I had to spend at the office. I explained I was a full time student and the hours I had to put in would be a problem. He seemed eager to put down my major choice. When he asked what was I studying (Ahem, Microbiology then to Med school) he backed off. Seemed afraid I wouldn't be too keen about his "sustained income" offer.

Thanks dude. Thanks for backing off.

Brandon   Florida

Just like everyone else I attended that powerpoint presentation and understood what they were trying to pitch to me. I didn't wait around to fill out the paperwork and then called my father who is a Certified Financial Planner to see what he thought about it. He told me he would "disown me if I even though about becoming a Primerica agent." Just to get a second opinion I got in touch with a friend who is my age and a CFP. He told me the same thing about the company. You will never hear a respectable insurance or financial professional say one kind thing about this MLM scam. I've read all the reviews given by the reps and all I can say is, you guys are brainwashed. It's as if you were all taught the same catch phrases to defend your beloved company. I've got to give it to the rep who compared it to religion thinking he was stating something that was so profound. Primerica agents are crooks who no nothing about Financial Planning and sell products I wouldn't consider selling to any of my clients. You sit there and bash others saying they don't have what it takes when in all actuality your just pissed off that you fell for this MLM scam. To anyone thinking about joining this cult or purchasing products from one of these agents, please think twice and take my professional advice. Stay Away!!!!
I dare any one of you brainwashed Primerica agents to try and dispute anything I've said. You all know I speak the truth so leave it alone. Take your rule of 72 and sit on it.

Cynthia   Dallas

I just went to one of these so called interviews and it's not my first time at it either. The first time, I went because of an acquaintance from church, which I am no one to judge but, I have no idea what she is doing trying to mess with God's people. So I rejected the "job offer" and took off. I don't even speak to this woman at church and the first time I met her, she was so judgement.

Anyway, one of my friends asked if anyone was looking for a job, and I am not really looking for a job because i already have one, but I wouldn't mind getting a better one, so I told her that I was. She asked me if she can give my number to her trainer, and I was like ok. I was asking what kind of job this was and she didn't tell me all the way. She said that her trainer would explain it better. I had a feeling it was gonna be some kind of work like this, but to end up at a Primerica all over again was just like hell. Like seriously?

I am not a mean person at all and I am pretty intelligent about some things. As soon as I walked in this mans office, I took a look at his laptop, it was missing 3 keys, the screen on his phone was broken and the building wasn't even all that fancy. dude, if you are making so much money, then why do you and your office look so broke?

I didn't want to be rude, I kindly rejected the offer to work for them. For those who don't know, THIS ISN'T A REAL JOB. I will in no way have anything to do with lying to people and making them feel like the dumbest people. Thinking about this just gives me such a bad vibe and I get goose bumps and I feel like vominting.

Leo   Palatine, IL

Let me start by saying that it is my honest belief that Primerica IS NOT a scam. It is simply a well thought out multi-level marketing platform, which is highly rewarding for the few who who manage to recruit a hefty downline. Let me also add that company utilizes highly deceptive recruiting practices, which are executed by omission of critical information during your meeting with your recruiter.

After being pursued for a few weeks by a persistent recruiter, I decided to come in and take a look at the presentation. The presentation is about an hour long, and it revolves around a Power Point portion, which includes statistics from company's highest performing sales people, a brief video, and a couple of long speeches by the recruiters. The problem is that you are given an exorbitant amount of information. All sales examples are EXTREMELY over inflated, which makes you believe that you can achieve these numbers every time you make a sale. For example, the numbers shown reflect selling every single Primerica product during a sale. How often can you accomplish that? Probably not as often as the presentation purports you could do it.


(PLEASE BE ADVISED, THAT EVERYTHING FROM HERE ON WAS LEARNED IN AN ADDITIONAL 1 HOUR MEETING I HAD WITH MY RECRUITER. ALL OF THIS WAS DISCLOSED AFTER ASKING LOTS OF QUESTIONS)

Furthermore, it was never disclosed that I will be an independent contractor required to cover each and every business expense out of my own pocket. This includes your car expenses (wear & tear, gas, etc) your health insurance expense (which could carry a very hefty price tag) and mandatory annual company get togethers. As I was told, the office car-pulls into the State of Michigan, shares expenses for the hotel rooms and food, and, has to pitch in $20 for the actual event. (The company charges its contractors to have an annual event??? When was then last time you heard something like that?)
The more people you have in your downline, the more commission you make off them. And according to my recruiter, the commission is paid unlimited levels down. Is this true?

I could keep writing more about this company, but I will digress.

Please check them out on your own. Evaluate your priorities. Think it through. If you are willing to work on a Commission Only structure, pay all of your own expenses, and run your own insurance business, this opportunity might be for you. IF you are looking for security and stability, this is DEFINITELY not a fit.

jack   chicago

@Kim from Dallas. You really don't know what you're talking about. Coming from a psychology and finance background (yes I've done both in my life time) I can tell you using psychobabble to try to explain a marketing our recruiting strategy is shameful. Is selling a home as a realtor, I'd that a scam. To work off of commission under supervision by say remax is how these companies work.

You receive a commission and they urge you to become your own boss. Start your own sales group and educate you on how to grow your own division or branch. If you can work hard and capitalize on an untapped market, meanwhile helping families plan for the worst by setting them up with life/home/carp insurance at a discounted rate, and get them to invest properly for retirement then what is the problem. This is a legitimate investment broker.

Primerica had set out to help educate families and individuals who otherwise May not be investing wisely or at all. So don't boast being educated if you couldn't take the time to properly educate yourself on this business. If they recruit its not because they are pursued to. Its because your friend who left her brain at the door, decided to take initiative, grow her own business and offer to educate people in finance (something I paid $$ for to learn in college).

She thought to offer jobs to her friends. Whom I'm sure she values. What a friend you are. (I apologize for any misspellings I'm doing this on my cell! What a pain!)

Ted   Location unknown

Definitely not a scam, but a waste of time. When they recruit you they love to talk about all the money you will make, but if you don't they say it is all your fault and you didn't work hard enough. They don't offer you a job, but business opportunity.

In 2010, the average Primerica agent made $5,296 a year (not month, but an entire year). You basically go around to all your friends and relatives and encourage them to join Primerca or buy their insurance products. You get a small % of the commission every time you sell an insurance policy, and so do the people working above you.

After alienating all your friends and relatives, what little money you make is not worth it. The business structure is multi-level marketing (look it up on Wikipedia for more info). While a legal and legit way of running a business, it has the same major fault as a period scheme: you'll run out of people to sell to.

Primerica offers to real way of finding new customers. After marketing to the people you know, you're in somewhat of a dead-end. Most people resort to trying to sell to every new person they meet.

Mark   Michigan

Those of you who are complaining about Primerica and its not working for you, I have a question-did you do the necessary work to be successful-like make phone calls,work with your coach/trainer to be the best you can be? Its not a get-rich-quick scheme, you need to understand that anything worth having is worth paying the price for & its a shame for those of you who have quit Primerica or are thinking about quitting that you would rather work for somebody else who tells you when to come in for work, tells you what to do, decides whether you get a raise or not, and worse than that-can let you go at a drop of a hat WITHOUT YOUR PERMISSION!! REMEMBER THIS QUOTE BEFORE YOU PREJUDGE THIS COMPANY- "YOU BETTER DEVELOP A SUPER VISION OR YOU ARE GOING TO BE AT A JOB AND THEY WILL PROVIDE SUPERVISION!

Remember a JOB is nothing more than Just Over Broke! Now would you rather pay the price for 24-36 months busting your but, giving this opportunity a shot to where you can call your own shots, making YOUR dreams come true, OR work for somebody else making THEIR dreams come true? The choice is yours & I understand that we need to respect other people's opinions & feelings, but I can tell you there's no other business opportunity like ours & there will never will be.PERIOD.

Frank   Pennsylvania

If you got into this company and made no money, it's because you are lazy. You get out of this business what you put into it. You're not going to become a millionaire overnight... if that's what you thought would happen, you're stupid. However, you have the POTENTIAL to earn a lot of money... if you're willing to actually WORK for it. In a regular job, you do not have the same potential. You make what you make and that's it. Sure, there are a lot of rude people out there, and unethical people... EVERY company has them. Maybe they got into it for the wrong reason. I got into this because I watched my brother die at 32 years old, he was uninsured, and his children got NOTHING. I vowed to never let that happen to anyone I care about ever again.

Camille Renee   Los Angeles

A old co worker kept bugging about his Oh so great job on facebook. I ignored him. 2 years later i received a random phone call from him asking about my life and that his company was hiring. How in the world did he find my number. This company creeps me out, I have have paid too much for a college education to have to pay an employer. Even if i am between jobs i am not desperate. I would rather work for McDonalds then Primerica. At least I would receive a weekly paycheck. I feel sorry for those who are addicted to this thing.

Faith   Location unknown

Sinto,
Understand what you are saying. Think of it this way. You can always change your own oil or cook at your home. But some folks either dont know the mechanics of a car or have time or know how to cook. They go out and have someone cook for them or service their car. It would be much cheaper to do it yourself.

One of my friends priced a fence. It was going to be $10,000. He decided to do all the labor and and buy the materials. It cost him about $6,000 less. Other people would've paid the $10,000 to have someone fence their property.

Believe me they are some people who know enough about investing that they go and do it themselves. Primerica's market is main street. They really don't know enough so they have someone help. If you paid a load and 30yrs later you were sitting with about 1 million in your account, would you be upset?

My aunt and uncle started invested when they were in their early 30s (retired now). He paid a load and he is greatful that someone took the time to sit with him about 30yrs ago. He said if he never sat with im, he probably wouldve never started investing and his life would be different.

One last note, in high school i was actually pretty decent at math and science. Some of my friend's parents would pay for extra tutoring to help them pass. Guess what? It paid off. They basically had to pay a "load" to help them pass.

I know enough about investing and wouldnt pay a load. But your average middle class family has no education in the personal finance.

But i agree with you. If you can do it yourself, then do it. If you can't then pay someone to help. You could also build your own home and save thousands but people have them built right?

Sinto   Location unknown

Just go to sites like term4sale.com and you will see that other life insurance companies have rates that are 10-50% less expensive than Primerica. Did I mention that the 35 year term policy isn’t guaranteed past the first 20 years? Hmmm, they tell their clients to “buy term and invest the difference” but what difference is there when Primerica insurance is way more expensive? They employ captive gents which means they can’t shop around and look for what’s best for the clients.

ALL of their mutual funds are load funds. So much for helping middle America. People that are duped into buying Primerica products could buy term life for much less with other companies through non-captive agents and the hundreds less per yer could then be put into mutual funds with lower fees and this could potentially mean tens of thousand of dollars or even hundreds of thousands more for the client in the long run.

And for those of you that think its actually owning your own business, just check the fine print in the IBA supplement and the advertising handbook. You don’t even own your book of business and there is a 2 year non competition clause if you decide to go independent. You cannot have your own independent website because the company wants to control all content.

For anyone considering a career in finance, go independent. There, you truly own your own book of business, can shop round and you can always recruit other agents to get the overrides without your prospective recruits thinking its a pyramid scheme like most of the population today thinks of Primerica.

Cecilia   Providence

In any business you have people who are going to represent the company well, while others are going to misrepresent it. The only difference with companies like Primerica is that you cannot just hire and fire. The ones that do not represent the company the way that they should continue to give people false impressions, and those who do not understand the concept tend to be mislead and therefore unsatisfied. I am about to join myself, and try to become successful with the company, but I also understand that there is a process I will be going through and like with any business I will be having to invest both time and money before actually seeing an income.

I do hope that I thrive in this company, and I do hope that people really think about things before they post them. This is a company that grows by word of mouth. Someone builds a team and those members go out and try to help people get their lives together financially while building for the future. It may not be the cheapest way to do it, but the goal is to make it the most affordable in the long run. So far to me this seems like a great company to both represent and become a consumer of. It all depends on who you learn about the company from.

faith   tx

I recruited my wife to my religion. She then recruited her sister. Her sister then recruited her husband... Oh no! My religion is a pyramid and therefore a scam?

And to Kim in Dallas. Does religion use fear based tactics to bring their message across? Do they ask that you contribute money? Do they ask for you to bring visitors to mass?

This company is not a scam. Just like EVERY company, you have to recruit, train and develop new people or your business will die. Also, in every company, you run into some bad apples. That is not the companies fault. Usually these folks are weeded out.

Again just like religion. There are people who have a strong faith in religion and its made their life complete. Others join a religion, pray for 2 months and wonder why they haven't won the lotto yet. These folks either stop worshiping or go around telling people that praying/faith is useless.

Elle   Taylor, MI

The people explain things until you understand. The products are an excellent value. They change lives.

Anonymous   Location unknown

I was recruited by Corporate America after i earned my degree. Yup! They gave me a decent salary and I sat in a cube. They even used me to speak with future college grads (recruiting trips) and tell them how the grass is so much greener on this side.

Now my question to the folks that feel this is a scam.... Do you own life insurance? Auto insurance? mutual funds? These are the products they offer. If you do own some of these products, you must have purchased from a company that also recruits (maybe not you).

What is so bad about recruiting? Isn't that how the SEC keeps winning championships? Isn't this why so many students in high school study their hearts out for their ACT/SAT?

Apple recruits and even got into everyone's mind that they MUST have an ipad, iphone, ipod.... Most people would credit the marketing think tank for this. Im sure you wouldn't say they are "preying" on the weak.
So what if Primerica offered a base salary? Would it still be a scam? Because im sure if Microsoft, Intel, AMD, Apple tried to recruit you, you would tell everyone about it. So whats the difference?

Anonymous   Location unknown

@Kim in Dallas.. I had to return to this review for the Big Smile you left on my face. You DO NOT know what you are talking about. You and Your post and other people who dont have what it takes to earn money outside a 9-5, is prejudice and understandable. I feel bad for your "friend" if she allowed you to feed her the "You Cant" poison.