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Primerica Financial Ripoff deceptive tactics in recruting Arlington Texas
I was introduced to Primerica by a friend. During my job search, he told me he knew someone and could help get me the job. With a few mintues of our conversation, a man called me saying he was vice president of Primerica. I thought that it was odd that a Vice President of a major finacial company would contact me for an entry level position. I thought that I would be going to some kind of corporate office, but when I got directions to the interview I was given a suite number. When I arrived I notice that the office was nothing more than small office suite. Hardly a place that a VP would work out of.
When I arrived he began telling me what a great company Primerica was and how I would make money by helping people. He then put on a video and let me watch. The video resembled a get rich quick infomerical you would see on TV at 4 a.m in the morning. The usual messages: people driving in nice cars, nice houses, talking about how others are slaves to their jobs, etc. Throughout the interview not much was mentioned about my credentials. They were selling themselves to me instead of the other was around. They liked to stress that you owned your own business at Primerica. Well, I have news for them. Business owners don't work on commission!
I was told by this rep. that I would probably be making 2,000 dollars a month. This seems very unlikely since you would have to sell about 8 life insurance policies a month to make that kind of money. Selling life isurance isn't easy, especially by an individual.
I told the rep that I was concerned about cold selling. He told me he didn't believe in it and then he gave me a list of friends and family to sell to. This is cold selling! I only know so many people, and out of those how many actually want to purchase the life insurance I am selling?
To make a long story short, I signed up, but then quickly canclled once I thought it over. Later they called my girlfriend who I listed as a reference. They ask he if she was interested in the opportunity, and she told them no, but they persisted in trying to recruit her. What kind of company tries to get someone to work for them, despite blatant disinterest?
After quitting, I got a call from a Primerica rep that said he found my resume online. He said, " I have a position for sales management training areas". That's a vague job desription if I ever heard one! I started to ask questions about what I would be doing in the job. He danced around the questions like a politican. When ask for information, he would say things like, "are you keeping your options open", or "we will discus that in the interview". He even had the nerve to ask me if I was asking quetions because I was interested. Well, how am I supposed to know if I'm interested if you won't tell me the details of the postion!!! After more questions he said thanks for your time and hung up the phone.Why can't the Primerica rep just say, I have business opportunity selling life insurance? If they have such a great opportunity, why are they so vague and secretive?
They are ways to make money doing Primerica, but don't quit your day job. If you are a dreamer, you might start to see visions of that mansion on the beach.
My friend told me at my old job that he could make tons on money working for Primerica a couple hours a week. If this is true, then why isn't he doing it?
I now have job with a brokerage firm. And they didn't charge me 199.00 to get my license!
Steven
Dallas, Texas
U.S.A.
1 Updates & Rebuttals
Leroy
Tulare,California,
U.S.A.
Steven in Dallas
#2Consumer Comment
Thu, July 27, 2006
You were incorrect about only one thing....yes you can own a business and work on commission only. Thats what I do. I am not affiliated in anyway with primerica or any other dumb MLM. I have my own insurance agency and I get paid strictly based on how much I sell and service. I am licensed with almost 100 different companies.
Half of my income comes from group health insurance for small businesses, a quarter from securities and a quarter from the sale of life insurance.
I can sell my business to someone who would like the income stream. Unlike someone with primerica, or for that matter State Farm, Farmers or Allstate, etc... I can sell my business to whomever offers me enough cash to walk away from it without anyone else's approval.
Insurance is not unique in this regard. I know someone who owns her own business who works on commission only also.....as an egg crate broker.
I know a half dozen mortgage brokers who work strictly on commission too.