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In Reply to: Re: Re: Re: Re: Primerica: Why it's just anyother Multi-Tier Marketing Scam posted by Bob the Builder on February 01, 2005 at 11:27:45:
: : : : : QUICK SUMMERY: JUST ANOTHER SCAM!! DON'T DO IT!!, DONT SIGN Up!! IF ITS TOO GOOD TO BE TRUE... IT IS!!
: : : : : Ok heres some logic. Suppose I tell you that if you sign your family up with my insurance policy I'll give you $1500. That is precisely what Primerica is.
: : : : : They beat around the bush, throw facts and figures but really what they are looking for you to do is sign your family up with their financial programs.
: : : : : Fact is that if you invest $10,000 for someone for 25 years with the S&P500 index (14%). It will roughly inflate to $260,000. Your program offers to pay them %12 a year (which is a lot more then what your bank will do) they will make $170000. That means that Primerica made roughly $100,000 doing business with you. So of course they can pay you $1,000 - $2,000 as a sign up bonus.
: : : : : Now lets take it a step further. From what I've heard (I left in the middle of the lecture) they want you to recruit 3 people by doing so making $3000 off their labor. THATS IF THEY LABOR. Now suppose you find 3 people, you have to make sure they recruit 3 people a piece so that you can collect $15000 a month. However, you now have 9 people at the bottom of the pyramid who all wish to be making commission off other people laboring.
: : : : : FACT IS THAT THERE WILL ALWAYS BE MORE PEOPLE AT THE BOTTOM OF THE PYRAMID HUNGRY TO SIGN PEOPLE UP.
: : : : : There will always be a huge drop out rate and while you may have made a $100,000 by recruiting x amount of people... it's really cheap change compared to the money Primerica made off of you and it's short term money in that eventually you won't be able to find new recruits and/or new people to sign up for their finanical programs.
: : : : : So what happens at this point is the pyramid collapses bottom up and eventually you will find yourself having no recruits to capitalize on and be forced to drop out yourself.
: : : : : I can show you facts and figures but it's all in the works. I'm currently working on a site bashing Multi-Tier Marketing. Primerica, Marker America, etc..
: : : : : Feel free to contact me. I left my contact details in this thread and don't hate me cause I differ in opinion. Fact is I'm trying to do you a favor by pointing out some not-so-obvious flaws. You may make some money using this program but remember:
: : : : : A: it's a lot harder then it seems
: : : : : B: That money may or may not be there forever
: : : : : C: Don't rush to sign your own family up, sign up strangers first and see how hard it is.
: : : : ANY PERSON THAT READS THIS GARBAGE, AND THINKS THERE IS ANY TRUTH TO IT, IS AS UNINFORMED AS THE PERSON THAT PRODUCED IT. HE THINKS, HE GATHERS, OBVIOUSLY, HE DOES NEITHER PARTICULARLY WELL. HE SAT THROUGH HALF THE PRESENTATION, AND PRESUMES TO KNOW ENOUGH ABOUT THE COMPANY TO MAKE THESE REDICULOUS ACCUSSATIONS. ALL THAT HE HAS SAID IS AS BASELESS, AND TASTELESS AS IT IS RECKLESS, AND IRRESPONSIBLE. PRIMERICA IS THE LARGEST FINANCIAL SERVICES COMPANY IN THE WORLD. TO IMPLY THAT A COMPANY IS A SCAM BECAUSE IT MAKES MORE MONEY OFF A TRANSACTION THAN IT PAYS ITS'EMPLOYEES IS REDICULOUS. THIS IS THE SINGLE MOST BASIC ECONOMIC PRINCIPLE. THERE IS NO COMPANY IN THE WORLD THAT DOES NOT DO THE SAME THING. HOWEVER, ASK YOURSELF THIS,HE STIPULATES THAT AS THE COMPANY CLAIMS YOU WILL MAKE 100K A YEAR, WHEN WILL THE COMPANY THAT HE WORKS FOR PAY HIM THAT? I WONDER. PRIMERICAS MISSION TO HELP GET OUT FROM UNDER THEIR DEBT, AND RETIRE AT A REASONABLE AGE FINANCIALY SECURE ENOUGH NOT TO HAVE TO WORK AT WAL-MART,OR McDONALDS UNTIL THEY DIE IS PRETTY NOBLE IF YOU ASK ME. GET YOUR INFORMATION FROM SOMEONE THAT IS ACTUALY INFORMED, NOT SOME IRRESPONSIBLE, CARELESS PERSON WHO WAS TOO LAZY TO EVEN SIT THROUGH ONE WHOLE PRESENTATION AND GET THE WHOLE STORY. I AM 1MILLION PERCENT PRIMERICAN, AND I COULDN'T BE MORE PROUD OF IT. IT MY,AND ALL PRIMERICANS GOAL TO HELP PERSON IN THE WORLD LIVE A BETTER,MORE SECURE LIFE,FREE FROM THE STRIFE OF IMPROPER PLANNING FOR THEIR RETIREMENT, AND TO PROVIDE THEM A MEANS BY WHICH THEY MIGHT ACHEIVE THIER LIFE'S GOAL.THE TRUTH WILL SET YOU FREE,IF YOU THE REAL STORY YOU CAN CONTACT ME AT ttllucidity@my.com or gavv7@primericaonline.com
: : : : THANK YOU,
: : : : JEREMY THOMAS
: : : I too, am I Primerica Rep. This person has no clue about what they are talking about. It makes me so mad to see this stuff from somebody who has no idea what we are about. THE FACT IS WE DO NOT GET A SIGN ON BONUS!!!!!!! We do honest hard work, families need the products we offer. We are licensed agents with the company and go through extensive classes and trainings. You know most people who write this junk are people that didn't succeed with our company, well just a note for you: success is often overlooked because it comes in the form of WORK. Enjoy your job! Thank you Jeremy!
: : : Have a great day,
: : : Melody Chastain
: : I agree that the person who wrote this was probably someone who didn't succeed with Primerica. The WORK was proabably too hard. The families really do need our products. We give them hope and a light at the end of the tunnel with honest, hard work. How many people can say that they are with a company that that does what's truly right for the client and not themselves? They may say they do, but I believe in my heart of hearts that Primerica is the only one that does!!!!! I too, am a Primerica Rep. and very proud to be one!!!!
: : : Have a blessed day!
: : : Jennifer DeBar
: How can you be proud of pushing a product that costs too much and does not meet the needs of the families you say you want to help?
: I have had to replace more Primerica insurance policies than I can count, because the clients were shocked when they actually read into the policy beyond what the rep showed them (there's a schedule of premiums?). I have seen more "high commission" policies than useful ones from Primerica. How can you justify that? Oh yeah, all those commission chargebacks you are all getting? You are very welcome!
: Cheers.
After seeking advise about PRIMERICA from my Father, who is a very well know financial advisor/planner for "Higher Class" and "Retired Persons" with money to invest, stated that there are numerous types of policies out on the market. Each individual policy that a company may provide has schedule of premiums,commissions etc. How else is a Rep that has written up this policy going to get paid? You may have had to replace some of Primerica's insurance policies, but I am sure you have had a few replaced also. That is the nature of the business, and has been since the end of the insurance monopoly. Straight facts are not one policy on our market today fits an individual or family perfect. The Rep or agent of that company will offer what they have, but somewhere there may be a "Better Deal". Nevertheless, We had discussed Primerica as a company and what they had to offer. He simply said that Primerica is focused on the "Middle Class" with an average income. Whether it be as an agent making a living, or an individual/family with a life insurance policy. But the one thing he said stuck out the most. He said, "To Have A Policy Is Better Than Not To Have One". Regardless. In regards to the individuals that wrote script above me, not everyone has the patients,knowledge and drive to become an agent for an insurance company. And for another nameless agent to discuss the replacement of policies is, and should be deemed unethical. Furthermore, never ask a rep or agent "How can you justify that? Do what normal people do, and write a letter to the company.
For me, I am not an agent for Primerica yet. I have asked a ton of questions regarding company proceedings and I do not find the down fall. The education is important for any business to succeed, and Primerica offers it. In ending, If Primerica's life and other financial plannings are scams, then by Federal governing standards they would have been ordered by a court to
cease and that has not happened.
V.K.III