Primerica

imjohn · 9th November 2007, 12:20 PM

A family friend called on me today about Primerica. I have no interest in joining their mlm, but might buy life insurance or a savings account to help my friend.

Any info/opinions on their insurance and savings products?

CFLarsen · 9th November 2007, 12:47 PM

Just my take on their methods.

Fnord · 9th November 2007, 12:59 PM

Primerica is a pyramidally-constructed telemarketing business. You don't start making any appreciable amount of money until you have at least three filled levels in your downline.

I have my own resumé on Monster. At least once a week I get contacted by someone who wants me to join their pyramid scheme. Most focus solely on my military experience, and assume that since I am a veteran, I must be desparate for money and lacking in scruples -- two ideal qualities for joining Primerica.

Run far, far away from Primerica, and as fast as you can!

imjohn · 9th November 2007, 01:11 PM

Yeah, I definitely will not sell their product. I would maybe use their mutual funds -- if they are actually a decent product. Same with their life insurance. I am underinsured.

Walk The Line · 9th November 2007, 01:17 PM

Originally Posted by imjohn

A family friend called on me today about Primerica. I have no interest in joining their mlm, but might buy life insurance or a savings account to help my friend.

Any info/opinions on their insurance and savings products?

My opinion? Stay away.

Deus Ex Machina · 9th November 2007, 02:11 PM

Originally Posted by imjohn

A family friend called on me today about Primerica. I have no interest in joining their mlm, but might buy life insurance or a savings account to help my friend.

Any info/opinions on their insurance and savings products?

There products are over priced. You can do better from almost any reputable firm.

Do not buy anything to help your friend. He will lose a lot of money and a lot of time on this - people are encouraged, when they join MLMs - to hit up their "warm" market (close friends and family) because they are the most likely to just buy something "to help out". It encourages the mark to stay in and makes sure that the upline from the mark make even more money. And they will. The longer your friend stays in the more money they will suck out of him. Very, very few people ever make money in an MLM.

MLMs are a way for people up the pyramid to syphon lots of money from the pockets of those at the bottom.

CFLarsen · 9th November 2007, 11:43 PM

Originally Posted by Fnord

Primerica is a pyramidally-constructed telemarketing business. You don't start making any appreciable amount of money until you have at least three filled levels in your downline.

And that's exactly the not-so-advertised secret:

You don't make much money from the actual product. You make your money from recruiting more people, and depend on them recruiting others.

Those who win sit at the top. If you get in this late, you're going to end up with very little - certainly not worth the time you spend.

Collect soda cans instead. Not only will you get money straight up, you are also helping the environment.

lionking · 10th November 2007, 12:04 AM

Originally Posted by imjohn

Yeah, I definitely will not sell their product. I would maybe use their mutual funds -- if they are actually a decent product. Same with their life insurance. I am underinsured.

Amway products are good too........

9th November 2007, 12:20 PM	#1
imjohn Critical Thinker Join Date: Oct 2007 Posts: 333	Primerica A family friend called on me today about Primerica. I have no interest in joining their mlm, but might buy life insurance or a savings account to help my friend. Any info/opinions on their insurance and savings products?
imjohn Critical Thinker Join Date: Oct 2007 Posts: 333

9th November 2007, 12:47 PM	#2
CFLarsen Penultimate Amazing Join Date: Aug 2001 Posts: 42,804	Just my take on their methods.
	__________________ SkepticReport.com

9th November 2007, 12:59 PM	#3
Fnord Metasyntactic Variable Join Date: Oct 2006 Posts: 6,633	Primerica is a pyramidally-constructed telemarketing business. You don't start making any appreciable amount of money until you have at least three filled levels in your downline. I have my own resumé on Monster. At least once a week I get contacted by someone who wants me to join their pyramid scheme. Most focus solely on my military experience, and assume that since I am a veteran, I must be desparate for money and lacking in scruples -- two ideal qualities for joining Primerica. Run far, far away from Primerica, and as fast as you can!
	__________________ Belief is the subjective acceptance of a (valid or invalid) concept, opinion, or theory; Faith is the unreasoned belief in improvable things; *and Knowledge* is the reasoned belief in provable things. Belief itself proves nothing.** Last edited by Fnord; 9th November 2007 at 12:59 PM.

9th November 2007, 01:11 PM	#4
imjohn Critical Thinker Join Date: Oct 2007 Posts: 333	Yeah, I definitely will not sell their product. I would maybe use their mutual funds -- if they are actually a decent product. Same with their life insurance. I am underinsured.
imjohn Critical Thinker Join Date: Oct 2007 Posts: 333

9th November 2007, 02:11 PM	#6
Deus Ex Machina Critical Thinker Join Date: Mar 2006 Location: Colorado Posts: 497	Originally Posted by imjohn A family friend called on me today about Primerica. I have no interest in joining their mlm, but might buy life insurance or a savings account to help my friend. Any info/opinions on their insurance and savings products? There products are over priced. You can do better from almost any reputable firm. Do not buy anything to help your friend. He will lose a lot of money and a lot of time on this - people are encouraged, when they join MLMs - to hit up their "warm" market (close friends and family) because they are the most likely to just buy something "to help out". It encourages the mark to stay in and makes sure that the upline from the mark make even more money. And they will. The longer your friend stays in the more money they will suck out of him. Very, very few people ever make money in an MLM. MLMs are a way for people up the pyramid to syphon lots of money from the pockets of those at the bottom.
	__________________ My principles? They are very much for sale and surprisingly cheap. I take credit cards.

9th November 2007, 01:17 PM	#5
Walk The Line We ARE Virginia Tech Join Date: Mar 2006 Posts: 936	Originally Posted by imjohn A family friend called on me today about Primerica. I have no interest in joining their mlm, but might buy life insurance or a savings account to help my friend. Any info/opinions on their insurance and savings products? My opinion? Stay away.

9th November 2007, 11:43 PM	#7
CFLarsen Penultimate Amazing Join Date: Aug 2001 Posts: 42,804	Originally Posted by Fnord Primerica is a pyramidally-constructed telemarketing business. You don't start making any appreciable amount of money until you have at least three filled levels in your downline. And that's exactly the not-so-advertised secret: You don't make much money from the actual product. You make your money from recruiting more people, and depend on them recruiting others. Those who win sit at the top. If you get in this late, you're going to end up with very little - certainly not worth the time you spend. Collect soda cans instead. Not only will you get money straight up, you are also helping the environment.
	__________________ SkepticReport.com

10th November 2007, 12:04 AM	#8
lionking In the Peanut Gallery Join Date: Jan 2007 Location: Melbourne Posts: 29,688	Originally Posted by imjohn Yeah, I definitely will not sell their product. I would maybe use their mutual funds -- if they are actually a decent product. Same with their life insurance. I am underinsured. Amway products are good too........