I was a customer of Primerica and considered becoming a IBO with them. I decided against it after some review. Here are my reasons:
- the mutual funds were pricey compared to some small due diligence; I was allocated into the aggressive funds which tanked about 90% during the dot com bust.... a true CFP would have suggested that I diversify and even suggested index funds... they most likely won't because they can't make money from Vanguard's S&P 500 Index Fund
- the insurance products push TERM over WHOLE but it depends on the client.... also their term products are higher priced than doing a simple Google search or going to www.term4sale.com
- when I was looking into it, the sales collateral for the company was being developed (2001) I thought that the support for sales and team building was not mature
- the people that were recruiting me were more interested in recruiting that actually providing a valuable and comprehensive service to their clients.. I don't feel right knowing that a Vanguard Index fund does a better job in diversification for a 25 yr old than a mutual fund that I make a 5% commission... most of the people were more interested in getting rich without the basic principle of servicing a customer with the best ethical service.
Overall I didn't get into Primerica. Since then I have spoken with other people and the feedback is it is ok. It depends on your upline for training if I am starting out. Also I believe World Financial Group among other MLMs provide comparable if not better service. For myself, I choose REI over MLM for the penetration into business and also support from my friends who do it. I don't discourage others with MLM as there are many positive things from it. I feel that for the most part unless you find a hot service or product or an growing market (such as health) or even have great team building, leadership, and/ or sales skills that many of the newbie MLMs will fail.