My experience with Primerica began on the same day I got out of the United States Air Force back in June of 2000. I had stopped off at the corner gas station to celebrate my unemployment with an ice cold Parrot Ice (a new name for a Slurpy). I filled my cup and walked to the register where a man was talking to the cashier and inquired about my Air Force service. I told him I was getting out and would now be job hunting. He then told me, "We're looking for people like you." After that we had a brief discussion about my stocks, bonds, and other investments. It was a short conversation because I have none. He invited me to their weekly "business meeting" that is held every Thursday in the basement office of the Social Security Building. I took his business card and told him I would see him there. I could not believe my good fortune, a job had come to me before I had even started looking! However, the more I thought about it, the more suspicious I became....
FLASH FORWARD TWO WEEKS!!
I had missed the previous week's business meeting, and two weeks passed before I was able to see what Primerica had to offer. Entering their office was like taking a step back in time, everything in the entire place, including the overhead projector the presentation was given on was vintage 1970s furniture (probably left behind from the tenants of the 1970s). I was a few minutes early and had time read the propaganda posted all over the walls. There were pictures of people who were now making hundreds of thousands of dollars since joining Primerica. Posted next to their photo was their old salary. Also on the wall was a poster with all different color jackets that one could earn by selling the most life insurance or investment services. Another sign reminded everybody that "Positive thoughts are seeds, negative thoughts are weeds." Last but not least was the ABCs of Primerica, I forget what the A stood for but, B was for Bring People to the Meetings!
C was for Cheerlead the System! Well, the man who had invited me had done both very well. I sat down and waited for the meeting to begin. As each salesman walked in, they shook my hand and assured me I had come to the right place.
The meeting began with a "testimony" from a woman who was so happy she had been recruited into the "business" because she can now help those less fortunate achieve their dreams through money market investments. The next speaker was woman who had arrived late because she had been out helping a family make their dreams come true! Now this lady had some good public speaking skills. She asked everybody in the room what their dream was. The other newcomers like me said there dream was to do whatever they want, whenever they want. One of the Primerica salesman wanted to buy a home, the other one sitting next to him wanted to buy his momma her own home. Others wanted a vacation whenever they pleased and some to be their own boss. She then told us we were all going to get a little "crazy." Everybody jumped out of their seat and began shaking hands and giving each other high fives. The lady who had given her testimony earlier turned on a little noisemaker. There was lots of laughing, yelling, and people just looking happy. The excitment soon died and we were all sitting down again. She then asked all of us newcomers, "How much are you worth?" The young ladies next to me all said, " A lot more than I am making now" or something to that effect. I said, "Twelve dollars and hour" and she informed I could be worth much more!
The story continues from here. She began to give her presentation about what Primerica offers and informed the audience that every time she said the word money, we were to say "Cha-Ching!" The presentation included how if we work hard, we can earn more money than we have in all of our lives! She promised that the day we would be able to quit our full time job, Primerica would send a limousine to our workplace to pick us up! What a deal! We join in this risky opportunity that depends on our salesmanship, knowledge of investing, and the time we can put into it, and have a limousine pick us up should we ever be able to leave our job! She gave her presentation on the overhead projector that contained transparencies containing vague information about earnings potential. None of these earning or wages were garunteed, we were often reminded that our earnings would depend on "how much we were willing to put into it." With that she ended and handed the stage over to the big boss himself.
The best opportunity offered all evening!
The big boss stood up and offered the best opportunity yet! He said, "Unless you are willing to invest $150 in yourself, you might as well leave right now." Hooray! An opportunity to leave! I stepped right off the front row and walked out. They all looked a little suprised.
Why I left, and what I observed.
All night Primerica was hyped up as an organization where one could find their hidden fortune. My question was, "Where is this money?" If this company is so valuable, why are we meeting in the basement of the Social Security building? Why does all the furniture look like it came off the set of the Mary Tyler Moore Show? If there is all this money is to be made, why doesn't Primerica just deduct the $150 investment from the first big fat check? Also, the "getting crazy" portion of the "business meeting" is designed to create an atmosphere of excitement, and help newcomers feel they are into something good.
Later research and my personal opinion.
When I got home I looked up some information on the internet and found that it requires a great deal of work and should not be approached as a part-time or spare-time venture. To be successful you have to be able to do it full time and more. I don't doubt this system has worked for some fortunate people, but from what I read, most get discouraged and quit after realizing the amount of work and time that must be given. If you are one who is daring or all ready wealthy and can give up a regular paycheck for a few months, Primerica might be a great opportunity for you!
UPDATE AUGUST 2004
The story above was written in the Summer of 2000. Four years later, the link for the story was posted at Cockeyed.com. I have recieved some e-mail feedback since then and have decided to make selected e-mails available for public viewing. Please click a link below to read both positive and negative Primerica feedback.
Positive Primerica Thoughts and Experiences
Negative Primerica Thoughts and Experiences
Intriguing story, I had a similar experience in 2001. This business (I forgot the name) advertised in the classified section with enticingly vague descriptions such as "Growing business needs talent, top pay!".
ReplyDeleteI should have known it was some salesman job, but I went anyway hoping they were accurately portraying their company. It started as a pitch for the product then turned into a "how would you sell this?" discussion. It was at this time that I just walked out.