Pyramid schemes are illegal, but Primerica is not a pyramid scheme or a scam. Most pyramid schemes don't even last for a year and don't provide any services to the public. In order for a company to be involved in a pyramid scheme, a new recruit would have to pay a fee to join the company and the recruiter would earn commissions off that fee.
In Primerica, there is no fee to join the company. There is a state licensing fee, which Primerica pays most of it on your behalf. Licensing has a total cost of around $1000 to $2000, depending on which state you live in. You only have to pay $99 of it. Again, this is the licensing fee that goes to your state, not Primerica or the recruiter.
When I joined Primerica, it was $199. That didn't cover for my Series 6 & 63 license (my securities license). Today, the $99 covers both the life license and securities license.
Facts about Primerica Financial Services:
1) They been in business since 1977
2) Over 100,000 licensed representatives in the company
3) Over 25,000 Registered Representatives, the largest mutual fund sales force in North America.
4) Has over 6 million clients in USA, Canada, Puerto Rico, and Spain
5) Has over $40 billion in assets under management
6) Placed in force more than $90 billion in life insurance in 2007
7) Pay an average death claim of $2 million per day.
8) The company is worth $7 billion.
9) A member of Citigroup, the world's largest financial service company serving 100 countries.