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Is There a Primerica Scam?
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Primerica is a multi-tier marketing company that offers debt-reduction advice, insurance (including life insurance coverage) and asset management. It is the “sister company” of the larger Citigroup.
Primerica encourages their customers to invest their money in mutual funds rather then use their money for full life insurance coverage.
Primerica representatives typically targets low to middle-income families with some debt issues, to whom they offer to provide a free “financial need analysis”. Primerica often encourages their customers to invest their money in mutual funds rather than use it for full life insurance coverage.
Primerica provides its services through a network of thousands sales representatives countrywide. The company is structured as a Multi Level Marketing organization, widely regarded as legal Pyramid Scheme. While this is a legal business model, sales representatives in MLM’s are often hard pressed to turn a profit because they must pay to participate, pay sales commissions to the person that recruited them, and are expected to recruit others.
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