Personal Finance

Anyone heard of Primerica?

  • Last Updated:
  • Feb 1st, 2006 10:20 am
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Deal Addict
Aug 28, 2002
1680 posts
3 upvotes
most non corporate insurance companies are like this you'll find.

Obviously Corporations like RBC wouldn't for example recruit people off the street
Member
Jan 6, 2004
414 posts
8 upvotes
Toronto
ayeung wrote:My friend's father works for Primerica and he asked her to quit full time university study and help him because he has too many clients on hand. After 1-yr later, she told me she is doing ok while studying part-time. She tried to recuit me a couple times but I am not really interested in recruiting a team of people under me in order for me to get some decent money. I don't think this company is a scam but I thought pyramid commission structure is illegal in Canada?

I find their life insurance (both term and whole life) is more expensive than some other companies.

You will find there are always legal loop holes to get around laws against pyramid.

Any company that starts off by recruiting based on "how much money , and how good/easy/independance/great it is, is a scam".

It takes hard work to make good money in the real world. Even the scammers have to work for their money lol.
Deal Fanatic
User avatar
Jan 24, 2005
5763 posts
353 upvotes
mcewen wrote:RUN

FAST

VERY FAST.

DO not look back!
Agreed, I've been approached by them several times in my life.
Member
User avatar
Oct 31, 2004
360 posts
Cambridge, Ontario
Don't ever give your name to them. My girlfriend got on their sucker list and they still call every so often to see if she's interested. They just don't give up.
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Deal Addict
User avatar
Feb 25, 2005
1488 posts
mr_smartman wrote:Rogue_77: you were recurited for that pyrmaid sh it too? Heheheh...me and my friend were too


**you can't write sh-it?
Yep, went in initially to see what was up and once they started drawing the pyramid on the board, the term "scam" came to mind.

I found out a buddy of mine had put my name on the list as he works with them now. Now he's trying to get me to invest with them.

Debating on wether or not to give a SMALL bit to see what I can get off'em.
Deal Fanatic
User avatar
Nov 21, 2005
5647 posts
119 upvotes
my bro used to work for them. a crap company i think... iono
Deal Addict
User avatar
Jul 4, 2005
1785 posts
105 upvotes
xwar wrote:Agreed, I've been approached by them several times in my life.
I've been approached by Investors Group a couple of time. Similar?
Jr. Member
May 10, 2003
134 posts
1 upvote
Arviat
What's wrong with Primerica? I have only heard good things about this company. Excerpt from: www.yourmoneybook.com website "The Ontario Association of Credit Counselling Services is now using the book for each of their staff members. The teachers guide and student workbook are now released and will soon be in the Grade 11 Career and Life Management classes." They are going to the classrooms in Ontario. They mention Primerica financial services in this book. I was also shown that they were featured in a Success magazine. I have seen a newspaper clippings from the Winnipeg free press about where the headline was Primerica brings bank to the kitchen.
I don't see why all the hate.

My life got totally screwed up by a london life insurance agent. The agent was my mom's friend. She sold me life insurance and not my mother. 2 year later my mother gets cancer. She passes away leaving me (21yrs) and my sister (13yrs) nothing. I had just finnished college and had a $10 grand of debt I had to sell my jeep to cover my schooling and had about $8 grand funeral costs. $20 Grand in business debt since I was a co owner in my family business. You try taking care of your younger sister and not having a job yet.

I am rather mad that an insurance agent would make such a blatant mistake over greed I was paying $100/mth for a $100,000 WL policy and I cashed it out when I couldn't afford it. I got a Whopping $169 cheque. Lucky me. Paid for about 3 years before that happened.

I moved back to Winnipeg and I came accross a Primerica rep and I became a client. I can say they helped me achieve getting out of bad debt and getting a brand new house and a 2006 dodge SX 2.0 car and taught me a little bit about money.

Out of all the insurance companies out there I would rather have a Primerican monkey come to my door at least he would be trained properly or at least confined to selling me something I need.

If Primerica was that bad they would be listed with the BBB, The national newspapers, TV or in a published book somewhere. If someone can produce credible sources I would then change my mind.
Deal Addict
User avatar
Aug 1, 2005
1886 posts
161 upvotes
You think they are trained correctly??????

Give your head a shake man! Ask them what
Deal Addict
Oct 2, 2005
3191 posts
114 upvotes
Toronto
djjosee wrote:I've been approached by Investors Group a couple of time. Similar?
IG is reputable.. not like Primerica!
Sr. Member
Jul 19, 2005
748 posts
Its a total scam the way they "recruit" people by making them think its a job interview.
GO LEAFS GO!!!!!
Vote Liberal!!!!
Deal Fanatic
User avatar
Jun 11, 2001
9475 posts
1610 upvotes
Primerica is known as a period scheme no doubt... just do a google search... unless you're trying to convice yourself otherwise somehow.
dealman wrote:What's wrong with Primerica? I have only heard good things about this company. Excerpt from: www.yourmoneybook.com website "The Ontario Association of Credit Counselling Services is now using the book for each of their staff members. The teachers guide and student workbook are now released and will soon be in the Grade 11 Career and Life Management classes." They are going to the classrooms in Ontario. They mention Primerica financial services in this book. I was also shown that they were featured in a Success magazine. I have seen a newspaper clippings from the Winnipeg free press about where the headline was Primerica brings bank to the kitchen.
I don't see why all the hate.

My life got totally screwed up by a london life insurance agent. The agent was my mom's friend. She sold me life insurance and not my mother. 2 year later my mother gets cancer. She passes away leaving me (21yrs) and my sister (13yrs) nothing. I had just finnished college and had a $10 grand of debt I had to sell my jeep to cover my schooling and had about $8 grand funeral costs. $20 Grand in business debt since I was a co owner in my family business. You try taking care of your younger sister and not having a job yet.

I am rather mad that an insurance agent would make such a blatant mistake over greed I was paying $100/mth for a $100,000 WL policy and I cashed it out when I couldn't afford it. I got a Whopping $169 cheque. Lucky me. Paid for about 3 years before that happened.

I moved back to Winnipeg and I came accross a Primerica rep and I became a client. I can say they helped me achieve getting out of bad debt and getting a brand new house and a 2006 dodge SX 2.0 car and taught me a little bit about money.

Out of all the insurance companies out there I would rather have a Primerican monkey come to my door at least he would be trained properly or at least confined to selling me something I need.

If Primerica was that bad they would be listed with the BBB, The national newspapers, TV or in a published book somewhere. If someone can produce credible sources I would then change my mind.
...zzz...zzz...zzz...

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