Is Primerica Legit Or A Complete Scam? Find Out The Truth Here.

Quick Summary Of Primerica

Name: Primerica

Price: One time fee of $99.00 + $25 / month afterwards

Rating: 3 out of 5

What Is Primerica?

Primerica is a multi-level marketing company that sell insurance and financial services to households in American and Canada.

They also offer a business opportunity where you can either sell their financial service products, or recruit people into their system to earn an extra income online.

Now if you’ve done any kind of research on Primerica before reading this review, you might have found out that this company has been around since 1991 — and had over 2 million client investment accounts at December 31, 2017.

And with pretty impressive stats, you might be wondering is Primerica legit, or just another scam you shouldn’t waste your time with?

Well I can say first of all that Primerica is a legit business, however I also want to discuss exactly how they work, what they sell, and whether or not you can expect to make a decent income through them.

Learn how to make a good income online here
What Do They Sell?

What Primerica sells
Primerica sells 7 different products to help mainly middle income households with different aspects in regards insurance and money in general.

They include things like…

  • Financial Needs Analysis
  • Term Life
  • Help With Investments
  • Auto & Home
  • Long Term Care
  • Legal Protection
  • ID Theft Defense

All in all after having a quick look through, these products seem pretty good and can really help improve people’s lives.

However with that said, just because their product may be good doesn’t necessarily mean it will be easy to sell, plus I mean how exciting is selling insurance in the first place right?

Honestly I think selling the newest high tech gadgets on the market, or showing people how to build a business from scratch on any subject matter is far more exciting then just plain old insurance. But hey that’s just me, you on the other hand might disagree and actually enjoy it.

How Does Their Business Opportunity Work?

As I mentioned earlier, Primerica uses a MLM business model — which basically means people make money by either selling their products and services directly, or recruiting people into the program and earning a percentage off of each one of their sales.

Also in addition to being able to recruit people, you’ll also be able to go up in ranks where you’ll now have the opporitijy to make more money and earn bonuses depending on how many people you recruited.

Now while there’s many people who like this business model, and it is indeed a very popular one among online businesses — I personally don’t like for several reasons.

1. People tend to spend more of the focus recruiting people into a program then actually selling the products.

Since you can basically make passive money off of the people you recruit into your down line, this usually ends up the better way to make money within an MlM business.

Therefore instead of actually trying to sell products or services that can help people — they sell them on the idea of how much money you can make by also recruiting people into the same program.

Which leads me to my next point…

2. MlM businesses usually hype up how much you can make with them.

Since all you’re doing 99% of the time is telling people how they can build a business and earn money by recruiting people — this usually ends up with people over exaggerating how much the typical person makes.

You see usually in this business model about 2% make good money, while the rest struggle to earn anything at all — but they’ll have you believe it’s easy to make thousands of dollars a month.

3. Most are quite expensive to join

Last but not least, a typical MlM business will usually cost thousands of dollars to literally join. This is so they can afford to keep paying people at the top the big bucks, while everyone else makes almost nothing.

Now I’ll say the only negative thing I’ve seen with Primerica is the members do hype up how much money you can make with them — since everyone is just trying to recruit people into their business opportunity.

Other than that though it seems like a solid company from what I can tell.

Is Primerica A Scam?

While you may be wondering whether or not this company is a scam, I can say for certain that Primerica is definitely not a scam.

Now many people might claim this is a scam due to the fact that they believed they could make a lot of money after joining — but what happened instead is they spent a lot of time and effort without making much.

However that’s not a scam, and sadly most people won’t become successful when joining an MlM company like Primerica.

If you’d like to see what a scam is, read my previous post where this company is asking for money without giving any sort of value to their customers.

Can You Expect To Make A Decent Income Through Them?

Do I think you can make some money with Primerica? Yes. Do I think you’ll be able to make a lot of money or even a decent income with them? Probably not.

Because as I said earlier, the two different strategies that they are going to teach you in order to make money are:

Selling their products directly to a warm market. Which is not going to make you a lot money, especially if you have to start traveling and finding people outside your city limits.

Or recruiting people into their program. Which again is not going to work because only the very few at the top in an MlM business actually make a good income, while the others are left broke and frustrated.

Even within Primerica’s income disclosure, they say that the average person only makes around $6,000 dollars per year within their company.

Primerica’s compensation plan
Now I know that may seem like a good chunk of change to some of you — however if you were to calculate that out to an hourly pay, you’d be making around $3.00 an hour.

And with minimum wage being around $9.00 an hour where I live, personally I couldn’t live off that amount of money in a year — but if you could, then maybe Primerica might be a good opportunity for you.

What I Like About It

  • They seem like a legit business that’s been around for years selling financial services to people
  • It’s fairly cheap to sign up and become a member with them
  • Primerica representatives must have a required licenses before they can sell they products

What I Don’t Like About It

  • They use an MLM business model, which makes it very hard to succeed if you join this company
  • They hype up the amount of money you can make if you were to join with them

Who Is Primerica For?

If you’re someone who enjoys selling insurance, and also doesn’t mind joining an MLM business model where you need to spend a vast majority of your time recruiting people — then Primerica could be a good choice for you.

However just remember that the average person makes at 6k a year — which means a few probably make more than that, and a whole lot more make less than this or nothing at all.

My Final Rating

3 out of 5

While I believe Primerica is a legit business that’s selling useful products, I personally can’t recommend this as a good way to make money online.

While MLM businesses like this seem good at first and possibly a good way to earn a decent income — people eventually realize it’s a lot harder than it looks, and usually end up quitting due to the lack income and amount of people they can market to.

That’s why I prefer a different method that doesn’t involve recruiting people, building a down line, or selling items I might not be interested in.

I can literally market whatever product or opportunity I want to the entire world (like Apple or Amazon), I can work on my business when I want and how I want, and I don’t have to rely on people below to makes sales in order for me to get paid.

This business model I’m talking about is called affiliate marketing, and I learned everything I know about it through a program called Wealthy Affiliate.

If you too are interested in building a business from scratch that can help you earn a good regular income each and every month — check out my full review of them here to see exactly how it works and what they can offer you.

Learn how to make a regular income online

If you have any other questions, concerns, or would like me to elaborate on something I mentioned in this post — leave a comment below and I’ll be glad to help you out. 🙂

Want to turn your passion into a thriving online business?
Check out this simple 4 step formula millions of people are using to make money online!

CTA image

6 thoughts on “Is Primerica Legit Or A Complete Scam? Find Out The Truth Here.”

  1. Michael,

    Primerica is in other words is mostly good for insurance and money advice to middle income families; but not worth any promotional investment in your point of view. 

    I do appreciate this information since I’m in the internet marketing business and looking for products to promote and monetize on my websites.

    I will be sure to stay away from such MLM practices moving forward.

    Thank you,

    • Exactly Susan. Primerica I think could be a good company to join if you need their services or help — but if you’re joining it to try and make money then you might have a difficult time for the reasons I mentioned in this post. 

  2. I have been involved in a couple of MLM’s and as you mentioned, the main emphasis is on recruiting. Some of them have minimum sales amounts to reach and maintain your level, but recruiting is where the money is.

    You also hit another good point that once you go through everyone you know, then the job of recruiting or selling gets a lot harder.

    The thing I wonder about with Primerica is how they can sell financial or insurance products like this. I thought the industry was regulated where only licensed reps could sell these products?

    • Yes this is actually one of the requirements if you want to join Primerica’s program. Here’s the quote from their site actually saying this in their business opportunity…

      “Importantly, for many product lines, Primerica representatives must obtain required licenses before the representatives may sell those products.”

      So yes this company is regulated and legit. 🙂

  3. Very well thought out article that helps people make informed decisions. You explained MLM very well, and I agree that it’s a very concise field that is very hard to navigate. Seems like you also gave a fair and legitimate reporting of the facts. I have seen companies like this online, and have always thought they were scams, good to know some are not.

    • I’m glad you enjoyed the article Laura. It’s true that many MLM companies out there are not worth joining and some are even downright scams — however there are a few legit ones like Primerica here.

      The problem though like I said in the post is even though the company could be totally legit — if they are using an MLM business model it makes it very difficult for people like you and me to earn a good income.

      This is why I highly recommend people to build their own website online, then sell goods and services to help people instead.


Leave a Comment