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3 people found this helpful  

learing experience for the business oriented

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - Sales Associate  in  Boynton Beach, FL
Former Employee - Sales Associate in Boynton Beach, FL

I worked at Primerica

Pros

I was intrigued by Primerica because, having worked in banking and currently working in the brokerage industry, I understood that they were offering a valuable service to their clients. Primerica is a divison of CITI, one of the largest banks in the world. Citi offers just about every financial product under the sun and they use Primerica as a sales force of their many products.

Cons

They are still a multi-level marketing firm. The problem I find with many MLM’s is that many of them coerce and pressure people to join – personally, nothing turns me off quicker than when I feel like I am being pressured into something. I did not sign up with them so I don’t have a full understanding of how they get paid. My rep said something about there being four ways, but seemed to intentionally keep it vague. From what other Primerica reps have said, most money is made from recruiting people rather than selling products – and it is difficult to make much money if you don’t recruit a bunch of people.

Advice to ManagementAdvice

What I think is brilliant with Primerica is that their goal is to help their customers use their existing income and shift things around freeing up extra cash to fund retirement and other savings goals. In the example they showed (I am not sure if it was the average American’s financial situation) they refinanced the customers mortgage and switched them from a cash value life insurance policy to a term policy freeing up $500 a month. They then take this $500 and show them how to make good use of it by investing in mutual funds for retirement, saving for college, etc…

Recommends
No opinion of CEO

247 Other Employee Reviews for Primerica (View Most Recent)

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  1. 11 people found this helpful  

    Brainwashed Robots with immoral business practices

    Former Employee - Trainee  in  Bronx, NY
    Former Employee - Trainee in Bronx, NY

    I worked at Primerica full-time for less than a year

    Pros

    Flexibility
    Learning experience
    Commission: There is no limit to how much you can earn
    Pay only $99 to get business license in order to sell insurance, they OFFER to give it back ONLY if you pass the state license exam

    Cons

    Primerica has a formula that many is not aware of. Only the top executives know but for every 100 recruiters only 2 would be successful in some way. (There is also more the formula that is straight scheming) With this knowledge, people are still recruiting and trying to get people to refer them to other people. If you know for every 100 recruits only 2 would be successful in some way, why would you keep recruiting EVERYONE? You know many of the people do not have what it takes to be a salesperson or to sell insurance, but why still recruit them? Primerica does because ALL THEY CARE ABOUT IS NUMBERS!
    -Immoral business practices and tatics!
    -Lies and Deception
    -Even though the hours are flexible in order to make money you have to be there almost every day!
    -If they can't use you for labor then they'll use you for referrals so they can recruit more people
    -Would recruit anyone. Even if it is quite obvious you don't have what it takes to be in this company
    -ALL THAT MATTERS IS NUMBERS not actually trying to sell insurance to middle class families like they claim: Primerica gives you all these statistics about how much debt the country is in and how the average person only has $25,000 in there retirement savings. They claim they are there to "save the day" but that is not what they really are focused on.
    -Give you this "good presentation" on how you make money and working as an employee does not allow a person to grow or expand to their highest potential but they are just doing that to brainwash you
    -Tell you lies about if your join their company you will become a business owner and you will be able to expand and grow unlike you would if you were an regular employee of any company. You don't become a business owner! Their name is on the check entitling the check to you!
    -Basically put down base salary jobs
    -Usage of your own phone in order to call clientele and recruiters
    -Encouraging and would want you to recruit your own family members and friends
    -You make money not just from yourself but also from the people you recruit
    -You can practically sit on your ass and allow the people you recruit to make you money but eventually they would follow suit. It has been proven the amount of money you make goes hand in hand with the amount of work you have at task. If you are a manager you should be working harder not less. So in order to make more money you have to work more on top of the crazy hours you put in.
    -In order for you to manage your recruiters, you would have to feed them the same lies and deception like the company does with you. That is only way things will work out for you.
    -They make it seem like the whole team makes a lot of money together, but really the top management is the one making the real money, not you as an agent, senior agent, district manager or even a regional or senior regional manager.
    -Not fair: At the end of day, there will always be a bottom guy who is not going make any real money meantime he is the one making the top management the real money. Every one should make the amount of money they put the work in for. Top managers do not have to put much work in and still get paid BIG BUCKS!
    -The average Primerica employee makes only $5,516 a year
    -Many of the Primerica employees would try to encourage you by saying they make $100,000 a year but they are lying: *I actually did background checks on some of them. They do not make close to that!
    -In order for you to be in top management, you would have to put up with the lack of money and the crazy amount of time you put in FOR A VERY LONG TIME.

    Advice to ManagementAdvice

    Stop your immoral and deceptive business tatics! BE TRUTHFUL AND HONEST! If people do not want commission salary jobs, stop trying to deceive them into thinking they will not get a commission salary job when joining your company. Also stop manipulating information when you make calls for recruitment! Your Primerica not just PFS Financial Services which you know only a small fraction of people are not aware of. Also stop putting down being an employee. You know the only reason why you put out the business ownership opportunity presentation to people is because that has more appeal to many human beings. You know down right well that not everyone is going to be an business owner in their lifetime! Come up with a presentation you know for a fact what everyone would get out of if they join your company.

  2. 2 people found this helpful  

    just the worst

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Services Representative  in  Lockport, IL
    Current Employee - Financial Services Representative in Lockport, IL

    I have been working at Primerica

    Pros

    start up costs are not bad compared to other insurance sales companies, they pay for the class and test if you score well on the practice. cost me about 130 to get my license. the commission is high ut you have to have the resources.

    Cons

    they exploit poor and stupid people. of the 30 people in my class maybe 2 passed the practice which was a joke for anyone whos been to college. *no one wants to buy life insurance from someone who works at McDonalds by day. 95% of the people that step into the office will fail in the first 6 months

    Advice to ManagementAdvice

    they need to find better reps not just take anyone in. also they seem like they are managing too many people at once so they are not very personal.

    Doesn't Recommend
    No opinion of CEO
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