a friend is pushing Primerica ... ugh - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

DementedReality · 03-09-2009, 05:57 PM

So I have a friend who after 6 months of not being able to find a job is really excited about his new venture with Primerica.

I have ZERO desire to hear his pitch or have anything to do with this. However, I dont want to rain on his parade either as its really the first thing he has felt some encouragment over in some time.

Any suggestion how to respond the exciting email wanting to tell how great this product is without letting him down?

GreenTeaFrapp · 03-09-2009, 05:58 PM

Tell him you can't talk about it because you work for the competition - Kramerica!

Igottago · 03-09-2009, 06:01 PM

I remember getting a call from these clowns back when I was looking for work. I knew right away it was garbage.

Has he already started with it? If not, just tell him to google Primerica, he'll get plenty of info on scams, etc. That should make the point clear enough.

4X4 · 03-09-2009, 06:02 PM

Can somebody google primerica for me and tell me what it is?

DementedReality · 03-09-2009, 06:06 PM

i really struggled with telling him its not good vs. lettin him find out on his own. its like as a friend should i open his eyes up for him or just be supportive and let him find his way.

oilfan69 · 03-09-2009, 06:12 PM

Quote:

Originally Posted by 4X4

Can somebody google primerica for me and tell me what it is?

here you are

HOOT · 03-09-2009, 06:17 PM

Quote:

Originally Posted by oilfan69

here you are

Congrats, you are officially someone's bitch.

I would just tell him that you have been with them before but were ripped off. You then looked on google and saw that many others had the same experience.

Maybe he will get a light bulb and search for himself.

Cowboy89 · 03-09-2009, 06:17 PM

Quote:

Originally Posted by 4X4

Can somebody google primerica for me and tell me what it is?

Primerica is a legal pyramid scheme where they train people to sell insurance products to their friends and family. 'Employees' earn a commission and money for recruiting new members to the Primerica cult, um cough . . . business. They use the friends and family angle to sell more as friends/family feel bad if they don't support said person in their new 'career.' They aggressively recruit people and usually prey on the unemployed and or/lowly employed. They offer up massive sucess stories and stress that this is a way for the common man to get ahead.

One big component of the business is they convert new customer's 'whole' life insurance policies from other firms into term policies and invest the delta into Citigroup (Who owns primerica) funds. So this equals more assets under management for Citigroup and a cut of the term insurance business as well. Unless your friend is willing to make a lot of friends that feel sorry for him enough to buy insurance from him or can recruit new cult members he'll go broke doing this. No need to sugar coat, crush his dreams right now before he misses plenty of other job opportunities in the mean time. It's the only responsible thing to do. Show him all the websites that identify it for what it really is.

DementedReality · 03-09-2009, 06:20 PM

Quote:

Originally Posted by Cowboy89

... crush his dreams right now before he misses plenty of other job opportunities in the mean time. It's the only responsible thing to do. Show him all the websites that identify it for what it really is.

id really like to do this, but some people need to learn things for themselves.

i am considering my options.

Cowboy89 · 03-09-2009, 06:25 PM

Quote:

Originally Posted by DementedReality

id really like to do this, but some people need to learn things for themselves.

i am considering my options.

If this recession gets worse while he's busy in lala land dreaming about all the phony profits his local Primerica Snake Oil salesman promised him about, he's going to end up with even worse job prospects. The employment outlook for the entire world is going to get worse before it gets better.

HOOT · 03-09-2009, 06:26 PM

Quote:

Originally Posted by DementedReality

id really like to do this, but some people need to learn things for themselves.

i am considering my options.

Well you can tell him and he can still learn it for himself. But as a friend you should let him know it's a bad idea, no?

All you have to do is google the company name and you get these results back in the top 3:

1. Primerica Home page
2. A site exampling why NOT to buy it
3. Employment scam of primerica

I just think even if you put him on to that direction he will see it's a bad path. I had a few friends do the exact same thing who were going to be making 6 figures in the next few years, blah blah blah. But within 3 months or less they were done and wasted a lot of time making no money.

simmer2 · 03-09-2009, 06:26 PM

Primerica isn't all bad. My fiancee was in it for a while and the actual products they have are pretty decent. The biggest problem is the people selling them aren't experts in insurance or investments (then again, I don't agree with getting investments from bankers either...they aren't experts IMO). They also really just push you extending your downline (bringing in more people under you), they don't necessarily push you learning about the products.

Overall, let your buddy try it out if he really wants to. It's not the best move, but it's not going to kill him either. He'll find out soon enough that it is likely not for him.

DementedReality · 03-09-2009, 06:31 PM

Quote:

Originally Posted by HOOT

Well you can tell him and he can still learn it for himself. But as a friend you should let him know it's a bad idea, no?

All you have to do is google the company name and you get these results back in the top 3:

1. Primerica Home page
2. A site exampling why NOT to buy it
3. Employment scam of primerica

I just think even if you put him on to that direction he will see it's a bad path. I had a few friends do the exact same thing who were going to be making 6 figures in the next few years, blah blah blah. But within 3 months or less they were done and wasted a lot of time making no money.

i hear you, but damn how could he have not googled it already?

Dion · 03-09-2009, 06:32 PM

Quote:

Originally Posted by 4X4

Can somebody google primerica for me and tell me what it is?

FlamesAddiction · 03-09-2009, 06:34 PM

I remember when I was briefly unemplyoyed between highschool and university, I "applied for a job" with these guys. I was asked for an "interview", and when I went in, it was like a huge information session with about 30 other people.

And the cult analogy is bang on. I felt like they were trying to brain wash me by thinking I was going to get rich. They even had people chanting and stuff. It was like being in a late night infomerical.

I left at the first break we got.

pylon · 03-09-2009, 06:34 PM

If you are a true friend tell him to run and not look back. A friend of mine had a sister that got involved with that cult. It subsequently ended in bankruptcy, a divorce and then a suicide, in that order, and it was all a direct effect of how the big promises and "the money will come" mantra of Primerica destroyed their lives.

Cowboy89 · 03-09-2009, 06:37 PM

Quote:

Originally Posted by simmer2

Primerica isn't all bad. My fiancee was in it for a while and the actual products they have are pretty decent. The biggest problem is the people selling them aren't experts in insurance or investments (then again, I don't agree with getting investments from bankers either...they aren't experts IMO). They also really just push you extending your downline (bringing in more people under you), they don't necessarily push you learning about the products.

Overall, let your buddy try it out if he really wants to. It's not the best move, but it's not going to kill him either. He'll find out soon enough that it is likely not for him.

Oh that's exactly what gives this an air of legitimacy. Before the credit crisis there was nothing wrong with Citi Life insurance, nor was there anything wrong with the investment vehicles sold either. The reason why it's a scam and the same reason why Citibank uses the Premerica scheme to do sales; the pressure sales on family and friends thing probably sells more products (the guilt factor); preying on laypeople to sell their product by word or mouth and paying them smaller commissions than an insurance broker means lower operating costs.

So add it up from a macro perspective: If Citibank spends less money to sell each product, but has a massive sales force who exactly makes the 6 figures? Also for some people to be making 6 figures, what do the new people make and furthermore how do new people become 'old' salespeople who make the 6 figures? Basically the answer is, it's just as tough or possibly even tougher to make good money out of Premerica than it is through traditional employment means altogether.

DementedReality · 03-09-2009, 06:37 PM

thanks everyone ... i really wanted this feedback so I could help him without being judgemental nor poo poo'ng it for him.

BavarianHorde · 03-09-2009, 06:41 PM

It has to be hard. You never want to hurt a friend, but I think like a lot of people said that telling him the truth is the best thing you can do as a friend. Your friend may not like what you say, and may get mad, but in the end he will thank you for your honesty. Your friend will know you are a true friend through it all.

Let us know how it goes.

V · 03-09-2009, 06:45 PM

Quote:

Originally Posted by DementedReality

id really like to do this, but some people need to learn things for themselves.

i am considering my options.

Your friend isn't 4. It's your responsibility as a friend to let him know what a pile of crap this is. If your warning goes unheeded, you've done your part.