Mentally and emotionally exhausting, less than $8, 000 made in first 1. In 2018, Primerica paid cash flow to its North American sales force at an average of $6,069, which includes commissions paid on all lines of business to licensed representatives. They rent luxury cars and nice suits that they can't afford, talk about sick of being paid $70k/year. So, is Primerica legit? Absolutely! They are the second-largest term life insurance carrier, having insured over 5. No, Primerica is not a pyramid scheme. Using Primerica’s marketing. Jobs are in a really weird spot where there's a lack of workers in some areas and a surplus in others, and unfortunately a family member of hers recommended her to a recruiter for primerica a company that sells insurance and financial benefits. Business Incorporated: 4/1/2010. B. If you google Primerica “Reddit” you’ll see everyone take them over the coals again and again. Primerica is neither a pyramid scheme nor a scam. Primerica is an MLM company that’s publicly traded on the floor of the NYSE. With all of the scams and pyramid schemes out there, it’s hard to know who to trust. Besides being a legitimate insurance company, they are also a multi-level marketing company. The average employee at Primerica makes $39,645 per year. This company offers reasonably affordable insurance that are great deals. Bullshit, the law does not prevent you from selling anything or limit anything. Their products are OK, but if you consider becoming one of Primerica’s Representatives you better ask yourself a couple of questions:Primerica is a financial services company founded in 1977. You can not make money with Primerica unless you are a good financial planner. While often legal, taken to the extreme, multi-level marketing becomes a Ponzi scheme. Primerica was founded in 1977 to serve middle-class families by helping them plan and prepare for their financial future. Primerica is the Amway or LuLaRoe of financial services, but it doesn't mean to say that it is a scam. A job at Starbucks would look significantly better on a. The company sells clients a Primerica life insurance policy, mutual funds, and other investment products. Primerica is a legitimate, publicly listed, company. Primerica Scam. So I recently separated from the military and I’m finally in college. Read NerdWallet's review to learn more about its pros and cons, customer complaints and satisfaction, and ratings methodology. Just like other multi-level marketing schemes the business model is based on churning through new hires that sell to friends and family. Omg I'm gonna burst. Redline are agents for Primerica financial and life insurance, it is an MLM. I have a great thing going for me with my schooling being paid for, I get a…However, they do offer legitimate life insurance policies. In 1977, we pioneered the “Buy Term and Invest the Difference” philosophy which solves two of the biggest financial needs nearly every family faces – income protection with term life insurance and saving for the future. Legally, Primerica is a legit corporation. flora_pompeii. $49 is a small price to pay for a very valuable lesson in spotting red flags and avoiding what amounts to an employment scam!Primerica Financial Services is a multi-level marketing company that sells life insurance and investments. You are paying a premium price for a sub par product. It's a publicly traded insurance and financial services company. In short they are a legit, middle of the road insurance company. Anyone with half a brain knows that Primerica are peddling lies and preying on people looking for jobs who are typically middle to lower class. Read real reviews and see what people think about Pay & Benefits. Primerica is the Amway or Tupperware of financial advisors. If you do well, you can make up to 95% commission by simply selling the products and this is why it is considered one of the highest-paying MLMs. Interested in Primerica life insurance? Read our review of Primerica’s plans, cost and riders. This should not be a legal practice but. En español: (877) 788-8111. Is Primerica legit? Yes, the biggest problem you’ll have is new agents trying to explain Primerica to friends and families with the hope of recruiting them and gaining overrides. Typical day working with Primerica involves interacting with colleagues, prospecting potential clients and new colleagues, setting appointments, training on products and processes, completing paperwork and work planning. BBB File Opened: 12/1/1978. En español: (877) 788-8111. 1 billion in 2019. So, imagine this – a company with a solid reputation, offering one comprehensive life insurance product. SobaYukihira • 6 mo. I have had a 20 yr life policy with Primerica. Multi-level marketing is a scheme by which people who are in first make money from those who come later. CRD#: 10111 /SEC#: 801-72263,8-26486. A silent partner is an agent who gets licensed and receives spiffs or bonuses for referring clients. Primerica is a multi-level marketing company. Primerica is a term life insurance company that offers no-exam and no-medical exam options, but has high rates and limited coverage options. Senior Marketing Director (SMD) contract level is 65%. As a multi-level marketing company, it also allows you to earn extra from. However, most pyramid schemes have got wise to the fact that they have to offer a product in order to appear legit, but even though a business may have products, the focus will always be on recruitment rather than product sales. " - Customer on BBB "I compared pricing online and Primerica was charging my wife and I 63% more than equally rated insurers. Founder: Arthur L. Primerica sells term life insurance nationwide, though you’ll need to contact a representative to apply for or buy a policy. Williams Jr. Get Directions. •. 90% of employees would recommend working at Primerica. But these are few and far between. I know a few people that gave it a shot and the only one that had any kind of success was a salesman before long before ever hearing of Primerica. Not disagreeing with your point about this company, but most financial advisors are salesmen. Primerica IS a legitimate company. Primerica is not a pyramid scheme. Technically, Primerica is not a pyramid scheme, even though you can invite others. The company is publicly traded on the New York Stock Exchange, and it employs over 100,000 people in the United States and Canada. Primerica - Financial Services Since 1977In conclusion, Primerica’s status as a pyramid scheme is a topic of dispute. If you do well, you can make up to 95% commission by simply selling the products and this is why it is considered one of the highest-paying MLMs. That’s some serious scratch. Most know that they have an MLM-style hierarchy for their insurance agents. There are also taskforces to uplift and incorporate an incredible diversity and inclusion minded community, whom simply lives what it preaches. Pros. All they talk about is I brought in one person that made me millions and I didn’t do a god damn thing , I was. This company is most certainly lying and bending the truth using double talk to paint a picture so perfectly for you that you needn't ever think to hard about It. Vote. I went to a whole spiel last night and while they do a good job of trying to be inspirational, I am still unsure how legit they are. ago. toolbelt10 • 6 mo. Short Review: Primerica is not a pyramid scheme nor a scam. S. See full list on davidduford. 18. Is Primerica legit to work for? › Is Primerica a good company to work for? Primerica has an overall rating of 3. 3 Locations. Primerica is the Amway or LuLaRoe of financial services, but it doesn’t mean to say that it is a scam. The employer communicates poorly. Here you spend most of your time trying to recruit people and actually get paid from the amount of people you can get to. S. Furthermore, Primerica is publicly traded on the New York Stock Exchange (NYSE). . Primerica is an MLM company that’s publicly traded on the floor of the NYSE. Share. In conclusion, my personal experience with Primerica MLM has been a mix of challenges and achievements. Some people are ready to call Primerica a scam simply because it's a multi level marketing organization. Years in Business: 46. Network marketing. As you can see there have been over 5 million lives insured and 2 million client investment accounts. Is Primerica a scam? Economics, Business and FinanceThere is not one unaccurate statement that I have read in every 'Primerica is a scam' document. Primerica emphasizes all new agents focus on recruiting and never truly spends any hands 0n training for life insurance. Actually, it has been considered as one of the best (top 50). You will be hyped up as long as you do everything you’re told, but if you ask questions, you’re immediately shunned. What most people don't understand is that most insurance and financial services companies have the exact same or very similar structure. It would be different if it were a legitimate business, which it’s not. To call Primerica a scam like Amway and/or Vector by equating two direct marketing businesses and a financial services business is kind of laughable. Primerica life insurance a scam? Is Primerica life insurance legit or a MLM? My parents are looking into getting a life insurance through them and pushing my husband and I getting one. Way too many people quit because they don't want to work. Destroyed my friendships with this job. So I work for a legit insurance company and have to explain to all of my family that 'yes a company I have been with for a decade is not a mlm, no its not like primerica. is a United States-based multi-level marketing company that sells insurance and financial services. Success Story is a Primerica employee, they typically use terms like "steal your dreams" and other ridiculous semantics to cover up for their scam. The average individual earnings of their representatives is $5,156 per year. In addition, Primerica has been accredited by the Better Business Bureau since 1979 with an A+ rating. They are a financial services company that helps people get out of debt and build wealth. com YouTube Channel:IS a legitimate company. Scam! First and foremost no true employer would charge you for background check. This company was founded in the year 1977. Primerica has over 2,000 corporate employees in the United States and Canada who support approximately 130,000 independent, life licensed representatives across North America ii. Is Primerica a Scam. Second the license to sell insurance is $200, which either the employer would reimburse you or pay for you. Founded in 1977, Primerica Advisors is an independent financial services firm serving clients in the United States, Canada and Puerto Rico. If it was a pyramid scheme, I don't really think it would reach this far. Primerica is not a scam. Their rates are usually higher than the competition. For so many people "scam" just means. But as the Duford Insurance Group points out, people often assume it’s a scam because of the. If you do want to become a financial planner, then you will need to study and pass some exams. The ”Primerica scam” is usually held up by people who after joining Primerica found that they could not run a business. They have an A+ rating with the Better Business Bureau and are accredited by the US Chamber of Commerce. Primerica is a company with more than $2 billion in revenue and most of the income is from term life insurance premiums. Check reps. Like anything, it depends on how much you put into it. Is primerica scam or legit website? Reviews and complains 2023 - Primerica has been in business since 1977, selling life insurance and investment products toInterested in Primerica life insurance? Read our review of Primerica’s plans, cost and riders. com is a legitimate website. '. UPDATED: May 5, 2023 Fact Checked. They do reimburse you. PersephoneInSpace. A publicly traded company, Primerica was founded in 1977 and considers its market middle-income families. Also, I’ll see address: how the Primerica business opportunity works, how Primerica agents make money, my opinions of one Primerica. . Primerica stocks tend to move up when the market is going up and down when it is going down. Nearly half a century after its founding, Primerica has become a major player in the life insurance industry. This review is based solely on my experience; others may have different experiences. However, there is enough negative information about this company that we simply cannot recommend it fully right. Reading some of the reviews like 99% of people never make money. Primerica is a financial services company that has been in business for over 40 years. Is Primerica Good or Bad? My Experience in Primerica! 56K views 1 year ago Insurance 101 in Canada Thomas C Chan - Financial Services 💸Not sure If you are on the right path. Primerica owns various subsidiaries such as National Benefit Life Insurance Company, Primerica Life, Peach Re, Vidalia Re, and e-Telequote. Its all about selling their products -mainly life insurance- and recruit people and get them licensed. Primerica Financial Services, Inc, or Primerica as it’s popularly known is a biz op that has a lot of controversy going around it. Primerica is a multi billion dollar industry that has been around 40+ years with an amazing track record. Business Started: 2/1/1977. This is more of an r/antiMLM question - Primerica is not a scam in the legal definition of the word, but joining them is unlikely to be a good idea for most people. They do sell term life insurance products but the main business is recruiting other people in to the business of selling Primerica products. toolbelt10 • 2 yr. Primerica is a multi level marketing system, which is legal. L Williams and Associates) Product Type: Multi-level Marketing Company. Best For : Anyone who has interests in life insurance, has great networking skills, and is comfortable with recruiting people. •. Primerica is a financial services company serving the middle-income market in the U. Primerica is a financial services company that has been in business for over 40 years. Yes, Primerica is a trustworthy company. The program is not a scam or pyramid scheme, and successful distributors can earn up to 95% commission purely from product sales, making it one of the highest-paying MLMs available. 95 in Massachusetts), and add-ons start at $14. Primerica is a legit MLM company that sells financial and insurance services for over 42 years already. Segregated funds. MLM, no matter what compnay it’s with is just a bad busienss model. Annuities. Primerica being seen on your resume would get it in the trash 10/10 times. The freedom to choose. ( 26 reviews ) Website: Write a Review Primerica is a financial services company that states it's mission is to help underserved communities gain. For a 20-year policy, the same coverage costs $27. While there are ongoing debates on the legitimacy of the company, with some claiming it is a scam, Primerica has an A+ rating, surprisingly, with a 3. Like Beachbody, insurance MLM firm Primerica is a legitimate and long-established company. But what they provide is poor value to you as a consumer. ReplyEverything is fake. The safety score is based on various factors such as past scam records,. You must recruit people and sell lifemust recruit people and sell lifemust recruit people and sell life insurance other wise you don't make any money. To become a Primerica representative, you need to pay a one-time fee of $99 for a background check, and $25 monthly fees for marketing resources. Only three. is a United States-based multi-level marketing company that sells insurance and financial services. . There is a monthly fee of $25. A family member is pushing for it because he been an agent for over 30 years and supposedly is the best against other. Product Name: Primerica. Primerica’s business structure is different from most insurance companies. Is Primerica a legitimate life insurance company? Based on Primerica's ability to maintain an A+ rating from A. Call (877) 855-8111 today to get started. This ruined me. How Pyramid Schemes Typically Function. Customers can work with a local agent for a personalized experience and payouts in two weeks. ”. Primerica is a scam, and yes it has everything to do with being an MLM. Plain and simple. It's a publicly traded insurance and financial services company. There is a quote "If all you have is a hammer, everything looks like a nail". Then every one they sold is stuck with poor performing investments and the. The 1 Pro About Primerica #1) Legit Services. So if you’re wondering if Primerica is a scam, the answer is no – they’re the. Is Primerica a Pyramid. 22. Multi-level marketing is a scheme by which people who are in first make money from those who come later. I think from OP's and other perspectives, the twist is that Primerica doesn't literally just take your money and burn it, like most scams. primerica. My rep said something about there being four ways, but seemed to intentionally keep it vague. , and Primerica is a subsidiary of Primerica, Inc. It is not a MLM, but its compensation structure has. Get competitive rate quotes in 10 minutes or less. It's not a straight up scam, but it is really hard to make decent money doing it. This experience was a HUGE WASTE OF TIME not to mention before you get “hired” you’re supposed to pay a nonrefundable $125. This is simply not true, though! Primerica really has three positions that they will hire on for a silent partner, sales agent, or management. 18. com is a suspicious website! Webmail. Interested in Primerica life insurance? Read our review of Primerica’s plans, cost and riders. 4. It’s a legitimate business opportunity with an A+ rating from the Better Business Bureau. However the same is said about other financial companies and in this article I going to cover another company that has gotten a bad rap as being claimed as a big scam, Primerica. , Canada, Puerto Rico and Guam. Primerica is a legitimate company offering term life insurance policies, but most people can find a better policy elsewhere. Is Primerica a legit company?Luckily she’s smart enough to see an obvious scam Reply CoffeeCurrency. Visit Website. I’d. So I work for a legit insurance company and have to explain to all of my family that 'yes a company I have been with for a decade is not a mlm, no its not like primerica. Here are 5 main points to remember from the article: 1. Primerica is a publicly traded company and has been in the life insurance industry for over 40 years which makes them a well established member in the life insurance community. com has been based on an analysis of 40 facts found online in public sources. The company says it pays 91% of claims within 14 days. Primerica is a legitimate insurance company, yet the agent side of things is totally MLM. Primerica website. They said they thought it seemed legitimate. Further, people DO make money in a Primerica career. They provide various types of insurance, debt management, financial investment, and credit monitoring services. Verdict: Legit What Is Primerica All About? Primerica is a multi-level marketing(MLM) form of company that is involved in the selling of various financial products to people. Name: Primerica Founded: 1977 Cost: Varies based on services offered (Life Insurance, Financial Advisement, Etc. Trust index -. Is Primerica a pyramid scheme? Can you make money selling their products and services? Why do some people say that Primerica is a scam? Is it true? Read more in my Primerica review…Primerica Life Insurance Company is a life insurance business based in Duluth, Georgia that concentrates on multi-level. We would like to show you a description here but the site won’t allow us. Pyramid schemes are illegal, and Primerica’s operations are entirely legal. You should have said "Citigroup" instead of "Primerica. They do reimburse you. The bottom line is that Primerica sells legitimate products and services (life insurance and investments), but. As the name suggests, Primerica is a US-based Network Marketing company that deals with financial products like insurance and funds. She asked if I was locked into my new contract and I explained that it was a long overdue promotion but that my responsibilities weren't changing so I was. Primerica is a life insurance company that offers term life insurance with up to $5 million in coverage and coverage until age 95. 37 rating with only 143 complaints in 3 years. You should be moving you should be moving your funds to a roboadvisor or self directed account and WealthSimple or Questrade. A big red flag is that you have to pay to start. But if the manager/ boss is negative and incompetent, the experience is not that good. 💸Not sure If you are on the right path in saving?💪 Download this FREE Financial Clarity Checklist: 💰Book a 3. Look into Vanguard or talk to someone in HR at your company to see if they offer a legitimate 401k or IRA. For more information about investment adviser firms, visit the SEC's Investment Adviser Public Disclosure website at: Business. com for a few different reasons. The company is founded in Duluth, Georgia around 2010. 00 for the use of POL - Primerica Online Service. Cons. Those that work there are part of a pyramid scheme. It has two policy options: TermNow. It certainly isn’t illegal, and unlike a real scam, it doesn’t take your money without your realizing it and the possibilities of wealth and happiness it advertises are possible, albeit unlikely. Cons. Primerica. Very rushed recruitment, can feel like a pyramid scheme, charged $125 upfront, zero base salary - commission only, if you're not a 'self starter' type or money-motivated this likely will not be a good match, start by selling to personal contacts, independent contractor not an employee can be a pro and a con. 13% of Primerica employees are Black or African American. Williams, Primerica is a financial services company focused on helping main street America to have financial independence. 7 billion. The theory is a sound one and many advisers. There are about 150,000 workers and a $5 billion market value. Some of the people at the top have legit insurance sale licenses from the state and sell those services. Can you make fast cash? I can’t recommend this company for fast cash. Then the people wash out because they can't sell, realize the company is a scam, etc. The freedom to choose. PRIMERICA ADVISORS, PFS INVESTMENTS INC. In short, any company who makes you pay for something to get hired is a scam. According to the BBB (Better Business Bureau), Primerica is, in fact, a legit company. The company provides a physical. Any negativity (i. primerica. Thousands of other people, just like yourself, are looking to find out if the Primerica scam claims are true. This experience was a HUGE WASTE OF TIME not to mention before you get “hired” you’re supposed to pay a nonrefundable $125. , a financial services company that trades on the New York Stock Exchange (NYSE). Primerica, on the other hand, is a legitimate MLM company that sells insurance and financial products. If you have to pay to work at a company it’s a scam. Here is a list of facts about Primerica: 1) There are over 100,000 life licensed representatives in the company, the largest marketing organization in North America. It is a legit program that offers real products for distributors to promote and an opportunity to build a business recruiting members. S. Useful. According to this definition, Primerica is not a scam. In short, any company who makes you pay for something to get hired is a scam. However, many wonder if Primerica is a legit company based on their first interaction. Primerica is a. For example they offer a 30yr term only. Is Primerica legit? Yes, the biggest problem you’ll have is new agents trying to explain Primerica to friends and families with the hope of recruiting them and gaining overrides. Cons. While not all departments are created equally, most have a great experience working for Primerica HQ. Primerica has offices in every state across the U. Like dude I work with legit companies and I know a damn scam. There are about 150,000 workers and a $5 billion market value. Scams can still be legal. Girlfriend fell for primerica scam. While there are rumors that Primerica runs a scam, the company has an impressive A+ rating but only a 3. Please be aware that fraudsters may link to BrokerCheck from phishing and similar scam websites, trying to steal your personal information or your money. CryptoOn September 6, 2023, Amerita, a subsidiary of PharMerica, filed a notice of data breach with the Attorney General of Texas after discovering that an unauthorized party was able to. WRONG. In addition, the company provides prepaid legal services and. They a multi-level marketing “company. Primerica is not a pyramid scheme. On their website, Primerica claims that they. Primerica is an MLM, and is very unique in how they run the company. Primerica is a scam! Please, PLEASE do not invest any more money with him. This differentiates it from a Pyramid scheme. But the problem with that is a new agent does not know the proper way to go about the Primerica system. They want their customers to be agents, and for those agents to recruit more agents. They are *extremely* high fee, and so using them you are paying 3X, 4X, 5X what is on the high-end of reasonable. They want their customers to be agents, and for those agents to recruit more agents. Primerica has over 2,000 corporate employees in the United States and Canada who support approximately 130,000 independent, life licensed representatives across North America ii. We DO NOT feel that there is any type of scam or scheme associated with Primerica. It’s a legitimate business opportunity with an A+ rating from the Better Business Bureau. Because I feel like I need to do some sort of public service announcement. Interested in Primerica life insurance? Read our review of Primerica’s plans, cost and riders. Primerica reached out to me on LinkedIn about a year ago after I posted I started a new job. Above all else, I think they were just happy that I got a real job interview. They will recruit just about anyone to be an ”advisor” train them dirt cheap (just enough to pass exams) and get so sell family/friends. Maybe some representatives aren't as professional as they should be, but the company is legit. Billy Wong set up a booth and made it appear that this was a legit insurance company looking to hire for paid employment. The problem with Primerica is that they can only sell their product shelf, meaning they can't go to market to get you the best coverage. Apparently he was at someone's house trying to rope them in. Is Primerica A SCAM? Should They Be STOPPED? Most of you are wondering if Primerica is a scam, so in this video, I will be talking about the advantages and d. First you will need to become a licensed insurance agent, otherwise it would be illegal for you to speak to customers about life insurance. 6 Cons Primerica Review | What is Primerica? Originally known as A. Prime America or Primerica makes lots of their money on managing assets, and their business model is to sell you term life insurance and invest the difference. Besides being a legitimate insurance company, they are also a multi-level marketing company. And if you have a life license they waive the background fee. Primerica markets its term life insurance products to middle-income families with up to 35 years maximum. First line on Wikipedia tells you all you need to know. We would like to show you a description here but the site won’t allow us. business model is based on churning through new hires that buy the products. It is not a MLM, but its compensation structure has features similar to a MLM. Primerica works and can get the job done but there are better alternatives if you know where to look. Is Primerica a scam? No, Primerica is a publicly traded company that sells real insurance and financial products. So no, it is not a pyramid scheme. Influence-free. HeyYall528. The Naked Truth! Primerica in its various forms has been around since 1977. Primerica is the Amway or LuLaRoe of financial services, but it doesn’t mean to say that it is a scam. Is Primerica a legit company or just another pyramid scheme. But it seems the product primerica sells is bad for another reason and I can't seem to find a straight answer or explanation as to. A scam is a fraudulent activity or game used to make a quick buck by employing tactics that are usually illegal. Nothing about Primerica "carries weight. Is Primerica a legit company? Despite a few lawsuits and speculations of Primerica operating a pyramid scheme, the company maintains an overall spotlessly clean business image. [deleted] Primerica is a life insurance company that sells term life insurance nationwide, with a multilevel marketing structure and. except North Dakota and has more than 130,000 independent life insurance representatives. They use your friends and contacts to start you 'business. Their annual revenue was: 2017 – $1. You need to have the right mentorship and be in the right base shop. Not every position at Prinerica is in the. Our goal is to empower you to make informed financial choices through education and then match you with the right financial solutions – term life insurance, investments, auto & home insurance, and more – that can help you achieve your financial goals. Because it’s impossible for most people to make any money in a pyramid scheme, pyramid schemes are illegal. New agents would make money and not run away as they learn recruiting. That’s until I came across Wealthy Affiliate, the turning point in which I really started making money online. So, yes, Primerica is a legit company. Legally, Primerica is a legit corporation. The company sells clients a Primerica life insurance policy, mutual funds, and other investment products. Yeah, it is a scam. Only reason why people call it a scam is because they are not educated enough. Parties are there to sway your opinion. There are dozens of reputable companies that sell life insurance and they don't require you to attend a sales pitch. Get involved . While there are rumors that Primerica runs a scam, the company has an impressive A+ rating but only a 3. The main issue with Primerica is not the HQ environment, but with their field staffing. primerica. Some of their agents end up doing very well in their careers by helping. What we found was relatively tame despite the scandalous questions people ask. But the problem with that is a new agent does not know the proper way to go about the Primerica system. The fact that Primerica stands out when compared to other MLMs or insurance providers doesn’t mean that there’s a Primerica scam. There is a side of Primerica though that a lot of people considers to be a multi-level marketing scam. Celiak86. The requirements to move on to the executive management are as follows: 3 direct recruits – all SMDs and either 500,000 net points in 6 rolling months or 750,000 net points in 12 rolling months. Like any other multi-level marketing based company, the people you recruit then work under you and you get a cut of what they make. The ability to compare. Primerica's products are available through its network of agents, who are compensated through a combination of. 241 reviews from Sales employees about Pay & Benefits at Primerica. However, some concerns arise with Primerica, not so much related to their life insurance products. They offer 10 year all the wat ti 30 year term policies that are misleading. It has been in the business for more than 40 years and sells life insurance through its 2,000 plus full-time employees and over 130,000 independent sales agents. BBB File Opened: 1/1/1980. Primerica is a scam. Williams & Associates in 1977 and used the concept of "Buy Term and Invest the Difference" with a mass-marketing strategy that was geared at middle-income clients. Primerica is not a pyramid scheme, but it is an MLM insurance company that only offers term life insurance. Prime America also known as Primerica only sells term life insurance. Primerica is the Amway or LuLaRoe of financial services, but it doesn't mean to say that it is a scam. In fact, they be a publicly-traded company on the stock shop, and have operated for decades, support people with their life insurance needs.