In order to determine whether the Primerica business opportunity is a scam or a real home business opportunity it is necessary to look at the Primerica Company, the Primerica products, the Primerica compensation plan and what people are saying about Primerica.
Primerica was established by Arthur L. Williams, Jr. in 1977 in the US. They distribute financial services using an MLM business opportunity and franchising in the United States, Canada, Puerto Rico and Guam. In this article I am going to focus mainly on the MLM Network Marketing opportunity.
[adsanity_group num_ads=1 num_columns=1 group_ids=65 /]When people are about to invest their cash into a MLM company’s business opportunity they will very often want to establish if they are making a wise investment, and they will look for the truth about the company which is often difficult to find. The MLM companies will always present their opportunity as the ultimate home business model which may seem too good to be true. By doing some research it helps to balance this and allows you to decide if the MLM opportunity is a scam or an authentic home business opportunity that you can make money from.
As far as Primerica is concerned and whether their network marketing opportunity is a scam or a real opportunity they are without doubt a genuine business opportunity. At this point I must make you aware that I am not in any way affiliated with Primerica in any way what so ever. I have never sponsored people into a Primerica downline and I have never been in anyone else’s Primerica downline. Also I have not ever been a user of the Primerica products and services. What I do have experience in is experience of the network marketing industry over a period of 20 years and also I founded a business that retailed in excess of $500 million or £300 million of consumer products during the time that I was involved in it. With this background I am ideally placed to have a neutral and informed perspective on the company and its business opportunity allowing me to see what other may not see due to lack of experience.
A scam is defined by the Collins English Dictionary as “a stratagem for gain; a swindle e.g. to swindle (someone) by means of a trick”. With this in mind it is now necessary to get to understand more about Primerica to see how I came to the decision that their MLM opportunity is not a scam.
Primerica is a publically traded company on the New York Stock Exchange (NYSE). They are a profitable and have an annual turnover of over $1.2 Billion dollars. To be listed on the NYSE requires the need to comply with strict corporate rules. Also following the FTC’s investigation of the home MLM Network marketing business model in the late 70’s it was determined that the MLM business model is legal. Primerica have been trading since 1977 and has over 90000 representatives. Primerica has to comply with the NYSE, the FTC and the laws of the Canada, Puerto Rico and Guam. It would not be impossible to sustain this size of business for very long if they were a scam – they are just too big to hide what they are doing from the authorities. With this knowledge hopefully this helps you to see why I am sure that the Primerica business opportunity is not a scam.
The products and services that Primerica offers include Term Life Insurance, Investments, Auto and Home Insurance, Long Term Care Insurance, Pre-Paid Legal Services, mortgage refinancing, and debt consolidation loans. Again the financial and insurance industry has to comply with another set of legal requirements. If Primerica were a scam operation they would not last long in these areas of business.
The Primerica Home Business Opportunity and the Network Marketing compensation plan
No major investments are needed to get started, it costs $99 to get started with Primerica MLM opportunity and then there is a $25 a month fee for the online support system. The Primerica compensation plan is based on a wide variety of different factors. Each of their products has a different method of compensation and the amount varies based on how much of a particular product the client decides to purchase. As a brand new licensed representative, you would get a 25% commission off the policy value that they pay for on an annual basis. When you create a downline it is also possible to make money from the business that you generate using a binary pay structure. Like all MLM Networking compensation plans this is too complicated to explain fully in this paragraph and you should study the comp plan so you understand it before getting involved in any opportunity.
In reading the reviews and experiences that people have had with Primerica it is always difficult to have a clear view on people’s opinions. It is a known fact that people are more likely to write a review when they are unhappy about something than when they are satisfied with it. Also when reading the reviews you never really know the level of commitment of the person who has written the review – you don’t know if they did everything as they should have done, they don’t tell you what they didn’t do properly. It is better to focus on people who are making money because they show you what is possible. Who would you rather be like – the winner or the loser? Some people just have unrealistic expectations or they don’t do their research ahead of joining an opportunity.
[adsanity_group num_ads=1 num_columns=1 group_ids=65 /]Obviously you already know my conclusion that Primerica is not a scam which became apparent as I looked at the various components of it its business model and products and services – they have to comply with too many regulations. Having said that it is not guaranteed that you will make money either, it depends on you and your dedication and commitment. If many other people are making money with Primerica and if you don’t then it may be the case that the company is not to blame, you need to make sure you do what is needed to become successful.
Do you want to know how to get the best chance of success with Primerica?
To get success with any type of MLM venture it is necessary to learn how to do it properly. Often the MLM Company will provide you with training on how to do MLM the ‘standard’ way that will revolve around selling the opportunity to friends and family. If you want to know how to accelerate the growth of your organisation then you need to see the information that I have for you here. When you click on this link you will learn how to use other methods to grow your downline in your organisation quicker. So have a look at this now by clicking here.
