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Started By
Message
5
Posted on 5/24/12 at 10:26 am to lsut2005
It's some kind of insurance right?
I know a guy who has a job and does Primerica some on the side, he says he makes ~$500 a month with it, he tried to get me involved but that shite makes me nervous.
I know a guy who has a job and does Primerica some on the side, he says he makes ~$500 a month with it, he tried to get me involved but that shite makes me nervous.
Posted on 5/24/12 at 10:28 am to Tiger1242
quote:
shite makes me nervous.
why?
You go out and sell some term life insurance.
Nothing shady about it.
Posted on 5/24/12 at 10:28 am to Walt OReilly
quote:
quite possibly the shadiest business ever
How so?
Posted on 5/24/12 at 10:29 am to TigahRag
quote:
primerica is a bunch of crap .. don't take a sip of the kool aid ..
This.
Had a friend put his foot in the water with Primerica and was trying to get all of his friends involved. From what I understand, he had to get so many people involved before he actually started making money.
If I remember correctly, he told me that he had to get X amount of people signed on and once he hits that number he would start making so much from all of his other sales, but it was more like "all you have to do is get X amount of people to join and then everything after that is big money". He got kind of pissed at me when I said "so basically they use you to get your friends and family signed up and if you want to really work your way up you have to go out and hit the pavement?" He didn't last 3 months.
As for as the product they offer, I am not sure if it is complete garbage, but the model they use seems very cult like.
Posted on 5/24/12 at 10:30 am to Walt OReilly
quote:
quite possibly the shadiest business ever
Walt, your best freinds work for Primerica, dont be hating on them.
Posted on 5/24/12 at 10:30 am to TIGRLEE
quote:
no, they sell term life ins and mutual funds. They are no more a pyramid than anyother ins company. I dont think many of you people understand what a pyramid scheme is.
quote:
why? You go out and sell some term life insurance. Nothing shady about it.
And we have our first Primerica employee!
Posted on 5/24/12 at 10:31 am to TIGRLEE
quote:
They are no more a pyramid than anyother ins company.
I dont think many of you people understand what a pyramid scheme is.
I don't think you do, the whole point of the company is to recruit people to work under you and so on....
that's exactly what a pyramid scheme is
Posted on 5/24/12 at 10:31 am to TIGRLEE
quote:
You go out and sell some term life insurance. Nothing shady about it.
I am a Project Mgr for an Engineering Firm by day and I have also done Primerica for 2 years part time. My wife and I have made 80k part time in 2 years. People who are lazy and don't ever do anything call it a pyramid when their own company in corporate America is "multi level".
Posted on 5/24/12 at 10:32 am to TIGRLEE
quote:
no, they sell term life ins and mutual funds.
Uh oh, TIGRLEE has bee indoctrinated. Yes, it is a pyramid scheme because the other agents in the area are the ones that recruit you and they clearly make their money off of getting in new agents moreso than new insurance customers because they will NOT frickING STOP HASSLING YOU ABOUT WORKING FOR THEM. In any normal business you would want fewer agents in your area so you have more clients that you are able to have for yourself. Primerica pays you for getting more agents so eventually the region is so oversaturated that you can no longer generate business. Eventually the system collapses for everyone but those at the very top. So I think YOU don't understand how a pyramid scheme works.
ETA: I am not knocking their products. I am sure those are fine for the customers they have. I believe they are actually even owned by Citi or some other large banking institution so I am not knocking what they sell. However, that does not mean that they are not a pyramid model because they most certainly are. Majority of agents will find it hard to succeed and fall by the wayside and take a loss on the money they are required to put into the startup. There are ways for people to suceed but they are few and far between.
This post was edited on 5/24/12 at 10:37 am
Posted on 5/24/12 at 10:32 am to RonFNSwanson
Posted on 5/24/12 at 10:33 am to OweO
quote:
This.
Had a friend put his foot in the water with Primerica and was trying to get all of his friends involved. From what I understand, he had to get so many people involved before he actually started making money.
If I remember correctly, he told me that he had to get X amount of people signed on and once he hits that number he would start making so much from all of his other sales, but it was more like "all you have to do is get X amount of people to join and then everything after that is big money". He got kind of pissed at me when I said "so basically they use you to get your friends and family signed up and if you want to really work your way up you have to go out and hit the pavement?" He didn't last 3 months.
As for as the product they offer, I am not sure if it is complete garbage, but the model they use seems very cult like.
Same for me. I had a friend go to the meetings, came back with all these charts explaining the processes. It was a bunch of BS
This post was edited on 5/24/12 at 10:34 am
Posted on 5/24/12 at 10:33 am to Walt OReilly
I work in the insurance industry, basically protecting your income while helping grow it. Financial planning in a way. It's not shady but then again I work for the #2 agency in my region in regards to sales, so it's not a bunch of bullshite, very professional. Universal Life, Index Universal Life and Variable Universal Life are damn good ways to make money conservatively while protecting your principal as well as protecting your ability to earn an imcome. Annuities are a very safe bet as well. Primerica sounds like a bunch of scumbags though 
This post was edited on 5/24/12 at 10:40 am
Posted on 5/24/12 at 10:35 am to RonFNSwanson
You guys are morons. Every company including yours recruits people. Check out monster.com. These employers are recruiting. Agents aren't paid unless sales are made. The definition of a pyramid is you get paid to recruit.
Posted on 5/24/12 at 10:35 am to TIGRLEE
quote:
You go out and sell some term life insurance.
To your family and friends. You provide the people that you try and sell to. While you are being "trained" you bring a stranger into your family and friends houses and ask them to break out their financial records then try and sell them a product. You will never be looked at the same again book it. I knew a few that tried it, and I almost got sucked into until they sat me down for the first deal and asked me to write down everyone I know and their phone numbers. I said no sir and rolled out.
Posted on 5/24/12 at 10:35 am to jdg91878
quote:
I am a Project Mgr for an Engineering Firm by day and I have also done Primerica for 2 years part time. My wife and I have made 80k part time in 2 years. People who are lazy and don't ever do anything call it a pyramid when their own company in corporate America is "multi level".
That's the thing, you have to be willing to work your arse off to make money, which there isn't anything at all wrong with that, but I think the pyramid part comes in when you have to get so many people under you before you can really start making money. In a sense, it is designed to milk the average person who gets involved, but then if you can put in the work after that the sky is the limit.
The guy I know who was involved for a few months.. Talked about it the whole time he was in it. It just seems like to a point they were selling a pipe dream.
Posted on 5/24/12 at 10:36 am to LsuTool
not trying to hate...they are all good guys and tell them to their face its shady
and then we get in argument for a few hours...i dont bring it up anymore
and then we get in argument for a few hours...i dont bring it up anymore
Posted on 5/24/12 at 10:36 am to TIGRLEE
quote:
you people
Posted on 5/24/12 at 10:37 am to jdg91878
quote:How much selling insurance and how much recruiting new workers?
My wife and I have made 80k part time in 2 years.
Posted on 5/24/12 at 10:38 am to jdg91878
quote:
The definition of a pyramid is you get paid to recruit.
Which they do
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