there,Primerica,Scam,Genuine,B DIY Is there a Primerica Scam, or is it a Genuine Business Oppor

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Is there a Primerica scam?  Primerica Financial Services,based in Duluth, Georgia, is a financial services marketingcompany with approximately 100,000 licensed independentrepresentatives, many of whom work on a part-time basis. Through these agents, the company sells financial productsand services that include term life insurance, mutualfunds, variable annuities, loans, long-term care insurance,and pre-paid legal services to over 6 million clientsthrough a network marketing sales model. Founded in 1977, in addition to its 100,000representatives, Primerica has more than 2000 employees andconducts business principally in the US and Canada. Thecompany also operates in Spain as Citisoluciones. Primericaand its affiliate companies are subsidiaries of CitigroupInc. (NYSE:C). Distributors earn a commission based on the sales effortsof their organization, which includes their own salesefforts as well as the leveraged sales efforts of theirdownline.  The Primerica opportunity is as an independentcontractor to the company, not as an employee.It is a business opportunity, not a job. You are not anemployee. This is where a lot of people either don'tunderstand the opportunity, or have been mislead about theopportunity, and believe it is a Primerica scam becausethey believed they were becoming an employee.The sales industry differs from traditional employmentbecause with commission sales, you are a licensedindependent contractor and not an employee of the company.Independent, unsalaried salespeople of multi-levelmarketing, referred to as distributors (or associates,independent business owners, dealers, franchise owners,sales consultants, consultants, independent agents, etc.),represent the parent company and earn a commission based onthe volume of product sold through each of theirindependent businesses (organizations).Independent distributors develop their organizations byeither building an active customer base, who buy directfrom the parent company, or by recruiting a downline ofindependent distributors who also build a customer base,thereby expanding the overall organization. When you join Primerica as an independent distributor, youare generally trained to first study for and then pass yourstate life insurance exam. This usually includes completingmandatory pre-licensing class work, as well as passing thetest, prior to making a life insurance product sale andearning a commission. Most people start with Primerica on a part-time basis tolearn if they are the type of person who can successfullybuild a business selling financial products to friends,family members, neighbors and subsequent referrals. Theymust also pass the appropriate NASD and state securitiestraining and exams prior to selling investments.When starting with Primerica, the cost is $99 and $25/monthfor full access to the company's support system. You willearn promotions through recruiting and life insurancepremiums, and with each promotion your commission willincrease. You start as a "Representative" and when selling a lifeinsurance policy you would get 25% commission. Once yourecruit three people you qualify for a SeniorRepresentative promotion that makes 35% commission.Once you promote one of your recruits to a SeniorRepresentative you then become a District Leader and get50% commission. By promoting one of your recruits to aDistrict Leader you become a Division Leader and get paid60% commission. If you then promote 3 District Leaders youqualify for a Regional Leader promotion making 70%commission. If you promote 6 District Leaders, and you and your teamachieve $10,000 in premiums for 2 straight months, youqualify for Regional Vice President thereby making 95%commission and bonuses. So success is all about recruitingin order to move up from 25% commissions to 95%commissions. As with any multi level marketing opportunity, your successis very dependent on who you know. After all, it does allstart with friends, family, and acquaintances. If you read many of the postings on the internet underPrimerica scam you will see a lot of them talk about therecruitment aspect being misleading or being a scam. As youknow from the information above, the name of the game isrecruiting. A lot of people who have posted resumes onlineclaim to have been emailed by Primerica representatives andoffered a job with Primerica or Citigroup. As several people have pointed out, there is no correlationbetween the resumes posted, and the job offered. It is herethey believe it is a Primerica scam as the informationprovided to them was misleading. Once those people werecontacted, they were requested to attend an 'introductoryevening' that would be attended by other 'interviewees'.When they attended, they found out it was not a job beingoffered, but a recruiting evening for a multi-levelmarketing business opportunity! Hence the Primerica scamcomments. To summarize, the Primerica scam appears to have got itsname from the way some Primerica representatives go aboutthe job of recruiting other people to form their downline.The actual business opportunity is not a scam, however itis a commission only business, so your rewards will bedirectly linked to your efforts. Selling on a commissionbasis with no base salary is not for everyone!