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Anonymous
Anonymous asked in Business & FinanceSmall Business · 1 decade ago

Primerica? Is this A SCam?

An old associate of mine, who I thought hated me, called me up out of the blue, i hadn't talk to him in over 8 months and said they wanted to hang out with me. Then once we met up he said he wanted to take me to this seminar, I said cool. I went and this lady had this cheap presentation, the stuff sounded really weird, and some if was kind of sketchy. Then they wanted me to sign on the dotten line, and if i dint it would be a huge mistake. i said ill think about it, my friend or thought he was a friend said that next week he wanted to take me to another meeting. I kind of felt used, i thought the dude really wanted to hang out with me but instead he wanted me to sign to Primerica. I did some research and heck no, i will not be signing anything. hopefully they don't call too much, and ill just tell my friend of w.e im not interested.

Was I being used, And Is Primerica A Scam?

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  • Anonymous
    1 decade ago
    Favorite Answer

    I can totally relate to how you feel as well as know EXACTLY what you mean: a friend did the SAME THING to me because her husband was a P/T employee at Primerica, and I actually went to ONE meeting. They pressured me to join and/or return for additional meetings. I told her I would "think about it," too.

    Then I did some extensive research and this is what I discovered:

    ----Primerica is actually owned by Citigroup, who does NOT want to to taint their reputation by being associated with the Pyramid Scam.

    ----IT IS CALLED A PYRAMID MARKETING SCAM, which is not to be mistaken with the legitimate "Network Marketing." PYRAMID SCAMS require "fees," which in this case, it's not an IMMEDIATE fee, but you still must pay up LATER if you want to advance. LEGITIMATE NETWORK MARKETING does NOT ask for ANY $$$-----EVER.

    ----They only sponsor the 1st, lowest "level" of certificate/license to sell insurance (i.e. life insurance). EVERY person YOU bring in afterwards (whether to buy the insurance or to JOIN the "family") brings commission to your supervisor (or whoever is your head). So THEY make the profit off of your hard work.

    ----Then ALL subsequent licensing are sponsored by YOUR WALLET.

    ----And you must continue to "recruit" more members in order to "move up" the rank to be a "supervisor." THEY make more and more commission $$$ off of you while you have to slave your way up.

    Finally, within 6 months of attending that one-time meeting, my friend's husband QUIT. Why did he quit? Go figure. XD

    Despite having been used, as in my case, too, just forgive your "friend." I bet he's sooo blinded by the imaginary $-signs in front of him that he simply can't see reality yet. He's actually "brain washed" into thinking that he's "helping" your career advancement. What he doesn't know he can't teach you. As a good person, just "enlighten" him with the truth. Someday, he will be grateful for you instead.

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  • 1 decade ago

    Primerica is NOT a scam, I got licensed with them, and helped people. When 911 happened, they paid out life claims within days on people who couldn't be found. I also helped people pay their home off YEARS faster than otherwise.

    You can be in a team who is dishonest, or you can even be in a team who walks the Christian walk in all they do. I was in the latter, and all we cared was we were getting paid well to change lives! We previously walked away from a crooked bunch we wanted no part of.

    I stopped trying due to focusing on a new career I had started, and I can't chase two rabbits and catch one.

    I found that you can't do this if you lack confidence and fear that you can't succeed. If you believe in yourself, its an awesome gift to offer someone.

    My only question is, what happened since CITIGROUP sold much of their company to a foreign country. Japan, I think it was, just happened recently. Check on that before you do anything. Might not have an impact on the company, but you never know.

    I will say, I have tremendous respect for Primerica and Citigroup to this day.

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  • Anonymous
    1 decade ago

    Primerica is a reputable financial institution, but this possibly is a scam fraudulently faking they are Primerica when they are not. I would be very weary about this as it can be dangerous.

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  • 1 decade ago

    Yes your were being used but that doesn't mean Primerica is a scam. It is a multi level marketing type insurance company.

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  • Anonymous
    1 decade ago

    Sounds like to me you were being used. I don't think that that dude really was ever your friend

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  • Anonymous
    1 decade ago

    http://answers.yahoo.com/question/index?qid=200711... should answer your question. It's a classic MLM scheme and you're getting at the end.

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  • 1 decade ago

    stay away from them

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  • 1 decade ago

    YES

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  • 1 decade ago

    just another slimy salesman.............

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