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Lloyd Agencies Employee Reviews about "pyramid scheme"

Updated Aug 18, 2020

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Found 8 of over 205 reviews

4.1
75%
Recommend to a Friend
79%
Approve of CEO
Lloyd Agencies President and CEO Sabrina Lloyd
Sabrina Lloyd
101 Ratings
Pros
  • "Looking forward to the journey, helping people, and enjoying success(in 6 reviews)

  • "You can make a lot of money if you’re a good at sales, but don’t care about what a person really needs(in 5 reviews)

  • Cons
  • "Long hours and frustrating at times(in 9 reviews)

  • "Bottom line complete pyramid scheme, the rich just get richer and you are seen as just another agent(in 8 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

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    Reviews about "pyramid scheme"

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    1. 5.0
      Current Employee, more than 5 years

      Can change your life

      Jun 8, 2016 - MGA in Schaumburg, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I'm a current worker with Lloyd Agencies and have been for years now. Reading these reviews is both uplifting and degrading. We have grown leaps and bounds as a company over the past years and its more than apparent that many people have taken the opportunity and ran with it and others, the more negative reviews, have not. Having been here and met and interacted with nearly everyone in the office its clear that those reviews that are less than positive were only working with us for a very short time, some days, and most reviews are from people that were never hired! The pros of this place are endless they pervade both your personal and professional life. There's no limit to the efforts put in and the heights we reach other than those we place on ourselves. Not only is there in house training, but the top management team in the company are the individuals that provide it. If you are looking for an opportunity, regardless of your experience, and are willing to work for the results you want then this is an opportunity to change your and your family's lives forever.

      Cons

      The cons people have listed in this forum are truly surprising to read. "No life," "pyramid scheme," "shady," "scam," etc are ridiculous. We are in one of the most heavily regulated industries in the world and are endorsed by tens of thousands of professional and state backed organizations. So...read the reviews! Judge for yourself! If you're looking to spin something negative you'll always find the negative. If you're looking for a true chance to make a difference this might be your chance to do so. For the people out there saying there is "no life" here, I encourage you to change your work habits to something more sustainable! Ask a manager or senior rep if you have questions on how! For the people yelling scam- do some research outside of a blog from someone who was never hired in the first place or someone who spent a grand total of a few days with us.

      Continue reading
      2 people found this review helpful
    2. 1.0
      Former Employee, less than 1 year

      pyramid scheme

      Aug 18, 2020 - Insurance Agent in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      one of the only genuine supervisors

      Cons

      You start off w/ 2 weeks of unpaid training (9am-4pm, mon-Friday). Then once you pass a script test you are "in the field" and can start making money. However, they give you old leads to call from so these drivers have been called dozens of times so no one picks up. If you are lucky and someone does they are annoyed and tell you to leave them alone. There's no base pay it's all commission. They expect you to work 8am-9pm, 7 DAYS A WEEK! I got calls from my team at night past 10:30 on the weekend. There was a meeting on a Sunday morning at 8 am. Mind you, you are required to attend all the meetings and it's not like you're getting paid for your time. You only get paid if you manage to get a sale, which is virtually impossible based on the materials they provide you. Then you have 2 booking days a week where you have to be on a zoom call with your management team from 4pm-9pm, this is when you call the worn-out lists they give. Aside from that, I never personally met with any of the upper-management/CEO, but I saw enough on the zoom agency meetings we had. Just people being unnecessarily rude to the agents and condescending. The CEO once ended an instructional zoom meeting over how to close a presentation successfully bc a couple of people yawned on-camera...Other agents' questions have been cut off or ignored simply bc they did not feel like answering them. In the interview and the application, they raved how this is a work at your own convenience type job, where if you want to work Mon, Wed, Fri, etc you can. But that's not the case, you technically don't even have weekends off. Bottom line complete pyramid scheme, the rich just get richer and you are seen as just another agent. In my particular training class, we had over 60 people. 1 month later, there were maybe 5 people left including myself. This shows employee retention is not important whatsoever, especially if you are not making them any money. The only good thing I have to say was my particular supervisor who worked over me was amazing! They seemed like one of the only genuine ones in the company. However, it doesn't matter how nice someone is, bc if I'm only making $200 a month when others are making tens of thousands (they announce weekly how much everyone makes) that's just not ok. They try to reel you in by showing off all the nice cars they drive and nice homes they live in, but you have to understand that's not attainable for just anyone but they make you believe that it is. Another thing, each morning in the GroupMe supervisors will literally tell you you have to send a "good morning" text to the group of all 200 people and make sure you're responding throughout the day such as saying thank you everytime a manager sends a zoom link or does something very minimal. Throughout the whole month I worked there I really did try to remain positive, however, it got to the point where I was putting in multiple hours a day to a job that I wasn't getting anything out of; money or satisfaction.

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      18 people found this review helpful
    3. 1.0
      Former Contractor, less than 1 year

      Avoid at all costs *scam*

      Jun 3, 2020 - Independent Contractor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      none, this is a scam.

      Cons

      Everything. Its a modern day pyramid scheme. They found some loophole in the system so they can't be charged. Every new hire is required to leave a positive review so they can keep phishing in new people. Pretty odd to have all reviews be 5 stars or 1 star.

      1 person found this review helpful
    4. 1.0
      Former Employee, less than 1 year

      Sales and Customer service Rep

      Nov 13, 2019 - Sales Representative in Chesterton, IN
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good people that work here.

      Cons

      Is a pyramid scheme. The aren’t truthful upfront with you in the interview process and they want you to work outrageous hours. I have continually been contacted by an individual there who apparently doesn’t realize I tried this pyramid scheme.

      Continue reading
      6 people found this review helpful
    5. 1.0
      Former Freelancer, less than 1 year

      Be Aware!!

      Sep 19, 2019 - Insurance Agent in Valparaiso, IN
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Money Motivation Teamwork(occasionally) Travel to other places

      Cons

      *Makes you pay 300 or 700 dollars for prelicensing courses (forgot) *Makes you pay for your license *Has two weeks of training/unpaid *Works a minimum of 40 hours a week *Has at least 4 meetings a week *Constant threats of losing your job or money *Commission only *No life outside of work or time for one *When your off work, you’re still working *Brainwashing *Scam/Pyramid scheme *Women use sex appeal to make sales *Work at truck stops in Gary, IN/others *Have monthly competitions/punishments for losing *Like to rub their money/wealth in your face *Degrade you/make you feel useless *Try booking your own appointments for hours *Yell at you when you don’t make them money *Sometimes you work till 2am/ or until you make a sale(because you “might” lose your job

      Continue reading
      2 people found this review helpful
    6. 1.0
      Former Employee, more than 5 years

      Not quite a scam, but pretty close

      Aug 21, 2019 - Insurance Agent in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      1. Unlimited Earning Potential 2. You get to see Lamborghini's and Porsche's delivered off of a truck to the owners husband 3. You get to sell life insurance to your friends and family and they will more than likely buy from you because they feel bad or are swindled by your manager.

      Cons

      1. Limited work life balance 2. Pyramid Scheme 3. Unethical practices

      Continue reading
      9 people found this review helpful
    7. 1.0
      Former Employee, less than 1 year

      cult-like

      Apr 23, 2019 - Insurance Agent 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      thorough training, good preparation for the licensing exam

      Cons

      have to pay for training, it was a pyramid scheme, lied about giving employees a base salary, no reimbursement of gas we use when we have to drive all around Chicago to meet with clients. Worked over 80 hours and barely made what i should've been making if i had a base salary.

      Continue reading
      14 people found this review helpful
    8. 3.0
      Former Contractor, less than 1 year

      If you want balance go else where

      Jul 28, 2015 - Insurance Agent in Schaumburg, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      If you are an abstract sales person you can work here. You have one product to sell and it is insurance. You get a script and you memorize. Thats 25% of the battle. Next is obtaining appointments - 25%. The other 50% is how good you are at using psychology to sell. If you want to make money for the time you put in and develop a skill, come here. If you want a 9-5, this isn't the right place.

      Cons

      They hire everyone because the managers get a bonus. And then they hand pick the ones they want to provide on going training to. If you work here, you will not have any balance in life at all. I worked along side with a manager for 3 months and he said he worked even Christmas eve. Yeah, everyone who works here is literally in love with money. This agency does work of the pyramid scheme, but then what insurance agency does. Referrals is what you need to succeed.

      5 people found this review helpful
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