Primerica Financial Services, Inc, or Primerica as it’s popularly known is a biz op that has a lot of controversy going around it. Some call it a pyramid scheme or a scam and some support it saying it’s a legit money maker for them.
Also called Prime America at times, they distribute financial products to North American residents. They sell life insurance, mutual funds, home and auto insurance, and legal services. They left Citigroup 2010 – which was their parent company back then.
Doing your research before starting a program never hurts since it can help you find legit opportunities and avoid scams. In this platform review, we share everything you need to know before you make up your mind.
Primerica is a US-based multi-level marketing firm specializing in selling financial services and insurance. It’s very similar to Ameriplan which sells healthcare insurance utilizing the same MLM business model.
Name: Primerica
Founded In: 1977
Type: Financial & Insurance Services
Price: $99 Initial and $25 Monthly
Primerica is listed as ‘PRI’ on the New York Stock Exchange, and they seem legit. A pyramid scheme won’t last in the market for more than a few years; this company has been around since 1977.
Their business comprises two parts:
Primerica offers a bunch of financial products to the citizens of North America, Canada, and Puerto Rico. Their product line is pretty big; it includes:
Of course, you can. There are two ways with which you can bank some cash with Primerica.
However, you don’t get to promote their products right away; there’s a $99 one-time fee that you’ll have to pay to join the program – it will get you the ‘Primerica sales license.’
They have a screening process for each of their distributors. Your background records and identity will be verified before you’re approved, and that is a good thing since it ensures a safe environment for all to work.
Once you’ve gone through the Primerica screening process and are accepted, you’d have to pay $25 monthly if you want to continue to access their tools and resources – including training and marketing material.
Also, the initial $99 that you pay is 100% refundable after a few months have passed.
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There are multiple ways to get commissions with the Primerica business model.
Primerica has an 11-tier structure. You can earn from your direct recruit and their recruits up to 11 levels. The commission rates vary depending on your rank with the company.
See Related: Can You Really Live Your Dream Life With PlanNet Marketing?
No, Primerica is not a pyramid scheme, nor is it a scam. The company sells real products, and they have been around for more than 40 years now. Recruiting isn’t the only business model on which they rely for closing sales.
You can make up to 95% commissions promoting Primerica financial products (depending on your rank). That’s among the highest-paying MLMs without a doubt. Those who claim it is a pyramid scheme or a scam are probably people who tried promoting as an affiliate but had little success.
However, 8 out of 10 MLM programs are not legit. Be sure to do your research before hopping onto another program. MOBE is one such platform; it was taken down by FTC since it wasn’t compliant.
Before getting started with a multi-level marketing program, it’s always a good idea to first understand the company’s vision and more specifically its tactics. If it’s all about recruiting other people and there’s nothing substantial worth promoting, you know what to do!
See Related: American Income Life Insurance Review – Another Dirty MLM Scam?
Without a doubt, Primerica is one of the better business opportunities out there. You can make a decent income by promoting it as an MLM business. It only helps they have been in the game for more than 4 decades, and that’s no joke.
It’s simple – only do what you like and are comfortable doing. If you don’t like multi-level marketing – recruiting others in general, you should instead opt for a different business model.
There’s nothing wrong with recruiting other people, but it should be your cup of tea. If you’re not a big fan of multi-level marketing businesses, then you’re better off staying away from Primerica.
We got your back. If you’re looking to work from home, we can help you get started in the right direction. Affiliate marketing is one of our favorite business models and for a good reason. It can help you achieve financial, location, and time-freedom in time.
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It will ask for some investment of your time and efforts though. If you’re ready to start your own profitable online business and finally increase the monthly cash flow your businesses generate, we highly recommend you give it a shot. If you ask us, it’s totally worth it.
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Last updated: October 3, 2023
