Is Primerica A Scam That Will Rip You Off
Products: Financial products and services, etc.
Will Primerica Scam You
Primerica is a multi-level marketing company that sells financial products and services to individuals. One thing that sets this company apart from the others is that you are not being pushed to recommend the services to your families and friends. Since the company operates financial services like life insurance, legal services, it is good for your family too.
However, the cost of signing up could amount to hundreds of dollars. If you have that kind of money, it is rational to want to think twice before you spend it and not only that, you have to understand what you are spending the money on. As far as Primerica is concerned, there are some grey areas regarding the process of registration and working with the company itself.
Sometimes, these things are not usually clear until you register. However, in this article, I will try to cover some of these things so that by the time you are through with this article, you will be able to make an informed decision regarding whether this MLM system is legit or not.
When someone registers with this company, they will still need to introduce other people into the system and possibly have them sell the products and services offered by this company.
In the subsequent paragraphs, I am going to show you facts that will help you determine if you are capable of joining this program or not. With the amount of information available on the internet for programs like this, it can actually be difficult to conclude at once whether a program is legit or not. You need to look at the facts and be objective in your own analysis.
This company deals mainly in financial products and it is a people-to-people business. You are strongly advised to evaluate your skills before you want to join this program. It is not the membership fee that you pay or the effort that you put into the program that will help you; it is actually your business and interpersonal skills. If you are lacking in any of these, you may not do well selling the following products:
- Life Insurance
- Prepaid Legal Services
- Auto Insurance
- Mutual Funds
- Managed Account
Primerica Compensation Plan
Making money from this program is about sales and volume. The more people you have under your belt, the bigger you’re earning potential. No matter how much you try, the amount of success you can see from Primerica is dependent on how well you can recruit and lead people in your team. If you are not a people person or you lack the business acumen that can help you sell many products to keep up with the membership requirements, then this is not for you.
In order to join this program and become a rep, you have to pay $99 membership fee with $25 monthly fee to maintain your membership.
Consequently, you can earn while you pay for the services. As long as you can maintain a steady flow of recruits to the program, you should be okay in terms of earning potential. While this may seem straight forward and simple on paper, the practical aspect is different. Reselling products, interacting with people, and introducing new people into the system are not as easy as it might seem. For a newbie, it can be overwhelming. I will only recommend you look at this system, only and only if, you have unique selling skills and your interpersonal skills are above average. You will see the importance of these if you join the program as a new rep.
Should You Join Primerica?
Businesses like this often ask you to sell to your family and friends first to get a head start. Most of the time, members follow this guideline but the problem that can arise from this can destroy family ties. The reason why these companies do that is the family ties will prevent the member from seeing through the problems with the products. This will only benefit the company but will be at the cost to the customer.
If such an introduction actually leads to failure because the family member can’t figure out what the business is all about, the member can start to have problems with their family. As a result, it might not be good to go this route.
The question then is if one cannot recommend this product to family, who then can they recommend the product to. This is a fine question and that needs considerable attention.
Alternative ways to earn a passive income online
Affiliate marketing is better than MLM in terms of the cost of setting up as well as the experience level required to steer a successful business. Affiliate marketing requires solid steps that need to be followed precisely before you can be successful with it.
If you are able to follow these steps religiously, you will definitely enjoy a large dividend for your efforts. That is not the end. If you have taken a certain combination of steps or strategy that lead to a success in a niche, then you can repeat the process in another niche and so on. This makes affiliate marketing flexible and straight forward.
As for MLM, it is rigid and often difficult to maintain. Once you are successful at a level, you have to move to another level where you will meet different challenges and requirements. You may need to start from scratch because the next level is indeed another stage that needs fresh and different experience. In fact, this is the number one reason most reps drop out from MLM. They just can’t have peace of mind – they have to keep learning and learning until it becomes unbearable to continue. This is why most internet marketers recommend affiliate marketing to those who are just starting out in the make money online niche.