What Is Primerica – A Shady MLM Company Or Your Golden Ticket?

primerica review - scam or legit

What is Primerica is the kind of question that won't be particularly easy for me to answer.

If you read some of the Primerica Reviews online, you'll find out that the company is quite controversial, to say at least.

The people attacking it are extreme when sharing their opinion.

But their voices find a formidable opposition in the thousands of satisfied users.

So, what's the real deal with Primerica Life Insurance?  Is this an excellent company to be a part of or a well-masked Ponzi scheme?

It's time for the whole truth to come out!

And considering that I'm not associated or affiliated with the product in any way, rest assured that no juicy detail will stay hidden.

Primerica Review - The Basics

Product: Primerica (Also known as Prime America)

Owner: A Publicly Listed Company, CEO - Glenn J. Williams (since April 2015)

Price:  $99 Starting Fee, $25/monthly fee after

Cash Embrace Says:

It's Complicated...

what is primerica - introduction of the company

First thing first, you may be wondering why I'm choosing to write about this topic today.

After all, Primerica is supposed to be about selling life insurance policies, right?

With that being said, why such a company is a subject of conversation on a blog that covers legit ways to make money?

Well, that's the thing - Primerica deals with much more than just insurance - it offers financial services too.

Subsequently, the people who execute those services are rumored to be paid quite well.

And that's my connection - I would like for you to know if it's a good idea to become one of them.

Before we concentrate on that, though, let's see what exactly is the company you might decide to work for!

What Is Primerica?

Basically, a miles away from what you most likely imagine when you hear "an insurance company".

Still, they managed to sell more than 5 million policies up until now - quite impressive considering Primerica is a toddler compared to the others working in this field.

Founded in 1977, the company is going stronger than ever.

So strong, that it's financial rating online shouldn't come as a surprise:

Currently, the program is rated A+ by both the Better Business Bureau and A.M.Best.

It's worth to mention that 90% of all their life insurance claims are being paid and resolved in less than 14 days.

OK, if Primerica is more than a decent life insurance business, what's the negative fuzz all about?

one little known side hustle will make you $6K per year

Well, it comes from the agency's MLM (Multi-Level Marketing) element.

Meaning, some of the marketing tactics used by this company strongly resembles the so-called "pyramid selling".

How Does Primerica Work?

For starters, their main line of work can be separated into 2 categories:

  1. Financial Plans/Products
  2. Money-Making Opportunities For People To Earn Cash (that's where you come in!).

I won't dwell too much into the insurance part - that's not why you're here, reading about what is Primerica and how you can make money with it, right?

But in case you're curious, I'll touch on it briefly:

Aside from the term life insurance, this is what most of their financial products look like:

  1. Retirement plans.
  2. Long-term care insurance.
  3. Debt management plans.
  4. Credit monitoring.
  5. Mutual funds investments.

Generally, the motto of the company is quite simple - "Buy a term and invest the difference".

And the ordinary people get to hear those words pretty often - every time they talk to one of Primerica's agents.

Let's talk about those agents, shall we?

How To Make Money With Primerica

Long story short, if you want to make money with the product, you'll have to become its agent first.

To clarify, there are 2 ways for you to earn as an agent:

  1. Sell Primerica's financial products and work on commission.
  2. Once you're an agent, recruit other people to work as agents as well.

Sounds confusing?

Here is a quick example that will help you understand:

So, you're having a conversation with one of the company's agents.  At the end of this conversation, you decide to buy insurance.

what is primerica - how to become an agent for the company

Before you part ways, that person will ask if you're interested to join the business and work as an agent too.

It's a smart idea when you think about it - not only Primerica takes care of your life insurance, but it also gives you the opportunity to make money.

Now, let's say that you give it a try.  The next thing you know, you're already making sales yourself.

And here is the elephant in the room:

The person who recruited you will earn a commission of every single sale you'll ever make.

Likewise, you'll earn from the people that become agents thanks to you.

In case you're not getting the idea, that process is how most of the Ponzi schemes work.

Which is the main reason why Primerica is strongly criticized for the way its agents do their business.

However, does this mean that the company is a pyramid scheme that engages in shady activities?

No, there is nothing illegal about it - more on this a bit later.

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How To Start Working For Primerica

Interestingly enough, not everyone will be allowed to become an agent!

If you insist to be given a chance as one, you'll have to go through a screening process first.

Nothing major, but they want to make sure that you don't have a criminal record.

Once that's out of the way and you're approved, the first thing you'll have to do is pay $99 - that's the price to be a member of the team.

Next, you'll be given access to the company's training, marketing materials, and tools that will help you build your career as an agent.

And to keep that access, it will cost you $25/month.

Isn't it time to find out how much you'll be earning as Primerica's representative?

Currently, the product offers an 11-tiered compensation plan.

What this means is that you'll make money from the people you recruit, then from the people they recruit, and so on down to all of the 11 levels.

There is the Ponzi vibe again...

Just to be clear, if you're getting a similar vibe, you should know that the way Primerica works is completely legal.

In my opinion, that's the main reason for all of the controversy surrounding this business:

People doing activities that may seem illegal, when in reality, they aren't.

Anyhow, as your rank as an agent grows, so will the percent of your commissions.

What I Like About The Product

Since you already know what is Primerica, let's see what are the pros of being a part of it:

primerica does not do illegal activities
  1. It's A Legal Job - as I've already mentioned, the company has around 200,000 active agents.  No matter what kind of agent you'll choose to be (selling insurance and/or recruiting new employees), you won't be doing anything wrong.
  2. Affordable Start-Up Costs - $99 is not an unbearable price for most people.  And even the $25 monthly fee is a manageable expense.
  3. An opportunity To Grow More Income - your recruiting commissions depends on the number of people you introduce to Primerica, right?  So, the more people you turn into agents, the more money you'll be earning.
  4. No Previous Experience Required - the product will teach you everything you need to know to be a successful agent.  Even if you've never done this before, you'll be able to master the necessary skills fast.

What I Don't Like About The Product

Needless to say, now we'll talk about the negative side of working for this company:

  1. Aggressive Sale Tactics - Primerica is a MLM type of business, right?  As a result, the first thing you'll be taught is to recruit the people from your inner circle - family and friends.  The more people you get to join, the more money you'll make.  However, becoming a pushy salesman to your loved ones is not a great idea if you care to keep these people in your life.
  2. Not Suitable For Everyone - if you're determined to earn really well, you'll have to learn a lot in a short period of time.  You'll need to know all about the financial products you're selling inside and out. Besides, Primerica mostly operates in the USA, Canada, and Puerto Rico.  If you're working in another country, the odds of success are much lower.
  3. Doesn't Pay That Much - according to the statistics, the average agent earns around $6,000/year.  So, this can be seen as a nice extra income, but it's not enough as a sole breadwinner.

Is Primerica A Scam?

Simply said, no - it's not.

Currently, Primerica is one of the most profitable and successful insurance companies in North America.

Some will say that it even holds the top spot...

However, I don't think that working for it is the best you can do.

thumb down

Firstly, the way its agents go about doing their business is questionable, to say at least.

Secondly, you'll have to invest a lot of your time to learn the financial aspects of the job.

Lastly, it doesn't pay as much as one would think - you can make much more if you devote your attention and efforts to a different side hustle.

A Better Way To Make Money Online

Let's be honest, you don't need to deal with MLM if you want to make money online.

Nowadays, there are better ways to earn an income.

No matter what you're looking for - a side hustle or a whole online business, you don't have to check what is Primerica and how to make it work.

Instead, you can do freelancing, dropshipping, blogging...

The opportunities are countless.

How about the good old affiliate marketing?  It's an awesome way to monetize a blog and your time for that matter!

Considering that's the kind of business I do, I can help you start your own as well.

Take a few minutes to read carefully My Free Guide - it will break down the process of starting an affiliate marketing-based online business.

My Closing

So, let's recap what you already know:

You're aware of what is Primerica, how does it work, and that joining it will not be the best decision you'll ever make.

With that being said, I would like to give the word to you:

Are you up for a chat?  Would you like to share your opinion about this company?  Maybe you have some questions about it?

Well, I'm here to talk about anything that my interest you - let me know what that is in the comments section.

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