Primerica Employment Scam

Vinnie Cappuccino

As I am currently unemployed and eager to enter the workforce, I jumped at the chance to go to an information session about an employment “opportunity” when invited by an old colleague. When I asked her position, she gave me little info about what she actually did, and told me that they would fill me in when I got there. When I got to the Meeting, (in an office between Excitement Video and a strip club called Ralph’s Place J) I found a small room crowded with about 25 people, everyone was very happy and welcoming, lots of handshaking.

I sat in the front row for the presentation, overheads charting interest rates, doubling time, the rule of 72, RVP overriding Financial Analysts, $500 each person you switch from Whole insurance to Term Insurance, RRSPs and Mutual funds, Banks are Evil and Greedy.The whole presentation is pretty much a blur. The main Presenter came up and told us that as we are a division of Citigroup, and we are the biggest company around, that many people have bad things to say about Primerica (I am one of those people now). I tried to take notes to review later, but really I got nothing, the presentation was too fast paced and the presenters were very excited, for what reason I do not know. A 26 and a 21 year old both came onstage and boasted about their earning power. OK, last part of the pitch. $212.93 will get you trained for the provincial license to sell life insurance.

Their Mission is to help families become debt free and financially independent, they called themselves “Crusaders”, Sounds great to me, I am an excellent student. Here’s the thing, they want me to provide 5 names of friends and family so that a “Field Trainer” and I can go to their home and get them to take an RRSP loan, pay off their debt, switch their insurance and invest the difference…and then provide some more names to my field trainer. I have a diploma in Business admin and Accounting, I’ve heard of the rule of 72, I’m great with accounting, however I do not feel comfortable giving my friends and loved ones financial advice. This is a good thing, because I might have paid $212.93 and gotten ripped off as so many others.

I was really interested in the job; Everything would be done in teams and that it seemed like a pretty good support system, even though the office was pretty dumpish. When we took a break I turned to my colleague and asked about the training…. She stated that she was the only person to pass thus far, because most were new to speaking English… Hmmmm… I shook some more hands, made another appointment for 10:00 the next day, cause I was still really interested in the job. I like the idea of helping others out of tough Situations.

Next day, I show up 20 minutes early, they are having a team meeting so I wait, it sounds like they are having fun in the meeting. I read the newspaper and wait, I find it strange that they have the Music blasting in the waiting room, I think it’s because they didn’t want me to hear what’s going on in the meeting, that’s cool though. So after the meeting, the 26 year old comes out and shows me to another office, where yet another guy is waiting, he has a real raspy voice, like he did too much Heroin; he said it was from drinking coffee, anyway so he was real nice, asked about my past jobs and stated that He too was involved with the Kiwanis Music Festival, an event that I had Planned and worked with for 3 years. The 26 year old and raspy voice then proceeded to ask for my $212.93. I didn’t want to part with that money, hell, I don’t have a job, I needs all the Monies I Gots!! they said that it COULD be refunded after training, but I have been told to never pay for a job, the job pays you!

I told them that I forgot my checkbook, and I really don’t have a Credit Card, so I asked if I could pay cash. The 26 year old offered to write a Cheque for me, but I declined. Haha Good Thing too.

So I left the office, really confused, no info on the Job, really worried about employment. What am I to do? INTERNET!!!! OK, so I get home, I have been to the Primerica website, but no other websites. Google saved my butt, Luckily I surfed into

Ripoff Report
And
Primerica Busters

After I found the first link and read into it a bit, I immediately called Mr. 26 Y/O, His cell was busy (funny no Voice Mail!) so I called Mr. Raspy Voice and told him that I was not interested in the position, he tried to say something, but I just cut him off in a polite manner, and said, No Thank you I am not interested in a position with your company. I was relieved that the websites backed up and answered most of the questions I had about this company. Answers that the representatives just danced around. Multi Level marketing like Pampered Chief, Fantasia or even Gin sue Knives is not a pyramid scheme, but dang are these folks shady. I won’t go into it too much, that’s what the links are for, I just wanted to post it here so that some others might be saved the trouble. Their financial advice is not professional, they use poorly educated people to spread financial lies to sell their crappy term insurance, so basically ya have to know when you will die, cause if you live after that age, then you won’t get the benefit and you will be too old to renew, nice way to help people eh!

I guess my recounting of this tale leeds to the question, are any ehmacers happy customers of Primerica or Happy Employees even??? As far as I can tell, unless you have a plethoria of people below you, getting you the $500 per person they sucker in, you could never make the hundreds of thousands they projected.

Primerica seems to misrepresent itself, on quite a few instances, I would never feel good at a job where I rip people off, lie to my friends and family about their finances (the stuff they teach doens't seem correct, I don't know for sure, I will never pay that fee... By the way, you can take the training for free if you are sponcered by an Insurance agent, (They give ya this BS about it being $2500 that the company is spending on you! haha!) If I was to be Vinnie The Financial Crusader, I think I would put my time into it that way!

autopilot

dude, i nearly bought into this scam over 2 years ago when i was working at hmv. luckily my dad had a bad feeling about it and poked around online.

two words: pyramid scheme!

the creepiest thing is how they find you by checking out online resumes on monster, etc. they call you as if you're a candidate for some position! it's messed up, but i can see how misinformed people can fall for it. not cool.

the branch i went to was up at downsview, at the corner where louise russo got shot!

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Vinnie Cappuccino

The worst is that they seem to prey upon the un/misinformed, I've had many ESL friends from other countries and I think that it is real crappy for this company to take their money, make them go through the self training, and then, after they fail, Ah well, too bad, you can stay with us and sell $mart loans (they are not so smart!).

I keep trying to tell the Girl who invited me, but they Brainwashed her like a Branch Dividian!!

IronMac

Gee...my resume's been up on Monster FOREVER and no one's ever called me...not even Primerica!!!

KardnalForgotHisPassword

The same thing happened to me last summer. They called my house looking for my step sister, and wound up offering me an 'interview'. Something felt fishy, so I googled the name, and the first thing that came up were those websites.

The whole thing is a bad scheme, and I'm amazed that Citigroup would attach their names to it. Lucky you for finding out ahead of time, and not getting sucked in.

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Macified

I'm not a fan of the Primerica employment model but there isn't anything wrong with the actual financial products. The training cost isn't for Primerica either, it's the exam fee and materials cost to be certified by a goverment org ensuring that you know the rules of financial sales. The group you spoke with was wrong to ask for the money up front as they should have made sure it was right for you before wasting time.

Primerica isn't a traditional company for sure, you have to have lots of contacts that you can exploit for sales and hires before you even get paid. There is no base salary just commissions and residuals.

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Vinnie Cappuccino

Yup, I felt pertty good dodging that one! Like a Superstar really, That's why I thought i'd share, glad to see that others have been contacted by them. Watch out, they "Are looking to open a few branches" Near YOU!!

A strip club accross the street would have made for some interesting lunches though!!

ArtistSeries

Vinnie, thanks for posting.
Too often firms try to sucker people who need a job the most.
Primerica sounds like a bunch of scammers and even if the products are legit, I would stay away from them on principal.

da_jonesy

"Unlike shadey pyramid schemes, this financial opportunity is the shape of a trapezoid"...

Anyone remember this quote?

Vinnie Cappuccino

Ah Yes, a Trapazoid, More sides, but all of the Money goes in the Same Direction... I don't know the quote but I love the Analogy! And to Artistseries, No problem, they said that they were expanding in Canada, and I don't want any other Hosers to be Hosed as I almost was. If ya really want to help People with their finances as a "Part Time Job" (60 hours a week is not part time), then go through an insurance company and do it, that is what I am thinking about! I mean, the credidation they give you isn't even the full package, part is left out, the part where you would figgure out that Primerica is crappy and overcharges people. they said that their target market was Middle Class, 25-55, Kids, and a house. People who need the service the most are thier target, people who need jobs the most are their other target, Don't get targeted by the Red Umbrella!!!

Ironmac.... Should I send them your name! Don't want ya to feel left out!

Primerica's Parent Company, Citigroup, No. 1 on Forbes 2000, Hmmmmmm
I'm just thinkin, What a Crappy way to sell crappy insurance, Could I intrest you in some Malaluka?? That was another one, all these products that you had to sell with tea tree oil in them, that was a long time ago! I only went cause I was interested in the girl who brought me, I just said that I didn't have any money... Not having any money is sometimes a good thing I guess!! Or at least saying that you have no money, people tend to leave ya alone!