topic Re: Anybody heard of Primerica? in SmorgasBoard

Anybody heard of Primerica?

anca21bi — Tue, 23 Sep 2008 02:21:20 GMT

I just talked with a lady about this, and wanted to know if anybody had any thoughts or even concerns about them. I'm thinking of working part-time to pay off my debt.

Re: Anybody heard of Primerica?

niecey89 — Tue, 23 Sep 2008 03:24:32 GMT

I am sure about anyone else but i remember them being a "Pyramid Scam". You have to get others to join in order to make money. Things might have change in the last 15 years but that is what i remember them being

Message Edited by niecey89 on 09-22-2008 11:24 PM

Re: Anybody heard of Primerica?

Anonymous — Tue, 23 Sep 2008 03:30:29 GMT

Run - run as fast as you can.

Primerica and Amway are really the only 2 ligitimate pryramid sheems in America.

Re: Anybody heard of Primerica?

athensguy — Tue, 23 Sep 2008 12:12:45 GMT

Why does Citi own a pyramid scheme?

Re: Anybody heard of Primerica?

Anonymous — Tue, 23 Sep 2008 13:09:01 GMT

http://en.wikipedia.org/wiki/Primerica_Financial_Services

PA bought Smith Barney in 1987

1993- They bought Travlers

In 1998, Travelers Group and banking giant Citicorp Trust Bank, fsb merged creating Citigroup (NYSE: C). Primerica and its affiliates continue to operate as subsidiaries of Citigroup, although the Travelers insurance business was spun off in 2002. Along with Primerica, other major brand names under Citigroup include Citibank, CitiFinancial, Citicorp Trust Bank, Smith Barney, and Banamex.

athensguy wrote:
Why does Citi own a pyramid scheme?

Re: Anybody heard of Primerica?

athensguy — Tue, 23 Sep 2008 13:14:56 GMT

Ah, and that merger is partially responsible for the mess we have today due to the Glass-Steagall provisions it was in violation of that ended up getting repealed.

Do you call it a pyramid scheme because of its independent agents?

Re: Anybody heard of Primerica?

Anonymous — Tue, 23 Sep 2008 13:52:43 GMT

No- it's a pyramid scheme because of the way each upline takes a peice of the commision.

athensguy wrote:
Ah, and that merger is partially responsible for the mess we have today due to the Glass-Steagall provisions it was in violation of that ended up getting repealed.

Do you call it a pyramid scheme because of its independent agents?

Re: Anybody heard of Primerica?

niecey89 — Tue, 23 Sep 2008 14:47:03 GMT

you just have to bring in money to make money. everyone before you gets a cut before you do. you probably will or will not see a profit. you just have to get people to sign up and give you money. oh yeah i remember their was a quote you have to meet every month. I was contacted years ago from someone at Primerica because they saw my resume on Monster. Yes they are recruiting people because that is how they work. It took my about a month to tell them to leave me alone.

Re: Anybody heard of Primerica?

Anonymous — Tue, 23 Sep 2008 18:28:27 GMT

Yeah, it's a pyramid scheme. The guy who works next to me worked there for a little while. He said it's basically a brokerage firm/life insurance company that functions like a pyramid scheme. You sell life insurance, annuities, mutual funds, etc, take a commission and then your boss takes a commission, etc.

Also, I heard this guy at the gym the othe day -- my last anecdote, I promise -- and he was saying that he was starting his own business and mentioned something about Amway Global/Quixtar (Another pyramid scheme). I find it hilarious how some people justify doing these pyramid schemes, though they're probably the same people that call those numbers on Comedy Central commercials that tell them they can make $100,000 a year working from home if they go to their website and pay them some money.

Message Edited by jaybird201 on 09-23-2008 02:28 PM

Re: Anybody heard of Primerica?

niecey89 — Tue, 23 Sep 2008 18:38:23 GMT

Jaybird201, that is so true and do not forget the infommericals as well.

Re: Anybody heard of Primerica?

Anonymous — Tue, 23 Sep 2008 19:04:45 GMT

@Anonymous wrote:
Run - run as fast as you can.

Primerica and Amway are really the only 2 ligitimate pryramid sheems in America.

not quite Tim. Mary Kay and Avon are pyramid schemes also, they just happen to actually work!

Re: Anybody heard of Primerica?

Anonymous — Tue, 23 Sep 2008 19:40:00 GMT

If there's a huge market on myFICO for face cream and body lotion, I might just give some of these pyramid schemes a shot.