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In Reply to: Primerica: Why it's just anyother Multi-Tier Marketing Scam posted by Sean Levi on January 25, 2002 at 12:36:19:
The people that blame Primerica accusing it to be a scam are part of one of the following groups:
1.They misunderstood what Primerica was all about.
2.They are disappointed because their own failure.
3.They are people who work for competition.
Thats it. Any other reason might be invoked is related to these 3 main reasons.
Lets talk about the 3 groups one at a time.
1.I agree that some of the fault for the people misunderstand what Primerica is and how it works might fell into the responsibility of some the Primerica representatives that didnt performed their job as they were suppose to, as professionals. At the same time some of the guilt is bore by the people who didnt bother to go further with the investigations and research to at least see by themselves how this business work beyond what they can see and hear at the opportunity meetings. For clarifying I will tell the following:
The 199 US$, or 220 CA$ that an applicant has to pay for becoming an associate goes to the benefit of the Primerica only at the first sight. The process of learning and becoming a licensed agent is far more expensive than that and is about $2000.00 or more. The rest of the many is paid BY Primerica! The only reason an applicant has to come with money from her pocket is the same reason for an unemployed person under the UI/EI benefits has to pay at least 10- 15% from their pocket if they follow a learning program under the government supervision, which can cost even $5,000.00 10,000.00 or more, for skills enhancement, that is school, to become more qualified in order to reintegrate more easily in the job market. So the person pays 10 15% and the rest of the money is sponsored by the government and the reason for this is that the government wants to make sure that the beneficiary is responsible with a percentage from the amount that is invested in her/him so she/he become more co-interested. Otherwise the beneficiary wouldnt be concerned at all to finish and pass the exams, if any. Thats it. So those many are in the end for the APPLICANTs interest and consume and NOT for Primerica. The only reason some of the representative rush the meeting attendants or others to sign the IBA (Individual Business Associate) forms and pay the $200.00 (give or take US vs CA) is that they want to get as many people as they can to become involved in the business and to build their team. This IS a crucial point to the business success. However I would tell them to be more patient and to be more selective with the people, not everybody is made for this kind of businesses, because in the end is best for their interest. They are a little bit too greedy and as a result of their bad practice many people fell in the second category that I mentioned above. People get confused and think that they are scamed for money in a pyramidal system. Thats not the case with Primerica even if it follows a MLM system.
What happens next is the applicants attend the course and after the course they have to take an exam with the company, Primerica. Only after they pass the Primerica exam they are allowed to take the state exam in US or the provincial exam in Canada. If they fell at the first attempt to take their exam with Primerica they can try again as many time as it takes but the will have to pay $15.00 for each of their next attempts. Only first time is for free. After the Primerica exam is a success the applicant has the right to go to the next step for the State/Provincial exam. This is not for free and everyone has to pay for the exam $60.00 - $90.00 depending on the type of the exam, on computer or written, money that goes in the governments pocket. The place of the exam and the supervisors are decided by the government. This process is the same for any candidate regardless of the company that trained them. Not only Primerica representatives go through it. After the State/Provincial exam is passed successfully then the applicant gets the license from the State/Provincial government. For this the agent has to pay $150.00 (in CA), money that again goes to the government. Primerica, I dont know about the rest of the insurance companies, as a reward for becoming licensed pays back the $150.00 to the agent. So it comes as a present from Primerica for their brand new agents. Fair enough, so far? I think so.
Thats it people. This is all the many that is involved in the process of becoming a Primerica representative. Can you see any scam so far? I dont. This was the process I personally went through to get licensed in Ontario, Canada.
2.Second group is formed by the people that think for some reason that Primerica is a place where you get rich without or with less effort. :o)))))) These people really make me laugh. Where on earth can you do that unless you are talking about bank robbery, mob, prostitution, drugs, etc, etc? Get real people and dont blame somebody else for your laziness or for your stupidity, which brought you to your failure. What Primerica does is putting at your disposal a great system, trains you, prepares you, helps you in order that through your own effort, talent and ability become financial independent, make your own living, be successful and, why not, be rich. In the end is all depending on YOU and not on others. If there is anybody you should blame at that is definitely YORSELF. Period.
3.Third group is not worth spending time talking about. These really are the SCAM (read scum).
That is one thing for sure: you will NEVER hear not even one Primerica client blaming at Primerica. That should tell you something.
I wish you success with your lives.
A Primerica representative.