2023 1129 - Affidavit - William W. Keep - Primerica vs Marco Moukhaiber - Always Marco- 173p
2023 1129 - Affidavit - William W. Keep --- [BonkNote] --- 173p
2023 - LC - Primerica vs Marco Moukhaiber – Always Marco --- [BonkNote]
2-3 - Primerica: An MLM company
13. Despite company claims to the contrary, “No, Primerica is not an MLM,”1 in practice Primerica operates an MLM business model utilizing endless chain recruitment. Essentially, the business model incentives participants to pursue rewards (i.e., earnings) by recruiting others who join for the same purpose and by selling to non-participant consumers. Purchases of insurance and financial services by newly recruited participants constitute a valuable buyer base that generates upline rewards with or without eventual sales to non-participant consumers. Enforcement actions and successful pyramid scheme prosecutions have tainted the MLM label, causing some MLM firms like Primerica to try to distance themselves from the label.
1 Primerica, “Primerica Misconceptions FAQS,” attached to this affidavit at Exhibit “2”.
4 - 17. The priority placed on continuous recruitment and the necessity to recruit to achieve rank is apparent in the video in question but also, perhaps more importantly, in documents entitled “Primerica Orientation Manual” and the “Fast Start Planner,” attached to this affidavit as Exhibit “10”. Both documents repeatedly highlight the importance of endless recruitment. Thus, in terms of Primerica business practices, the company clearly employs the MLM model and prioritizes continuous recruitment.
5 - 20. When it comes to misleading insurance product claims (not part of Tina.org research), the appropriateness of term life insurance for consumers, apparently without regard to their situation, may also be an issue. To stimulate recruitment and sales a participant may overemphasize the appropriateness of term insurance, relative to other forms of insurance, particularly when selling to friends and family interested in “helping” the new Primerica participant succeed.
p22- 1999 - AP - Pyramid Power: Network Marketing Leaders' Accounts of Professional Development and Success, by
Douglas Black, A thesis submitted in conformity with the requirements for the degree of Doctor of Education
Business Insider - Meet Primerica, The New Wall Street IPO That's Really A Multi-Level Marketing Scheme, by Vince Veneziani
They'll deny it, but basically, it's a multi-level marketing (MLM) company for finance.
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p70-86 - 2008 0527- FTC - FEDERAL TRADE COMMISSION - Project No. R511993 - COMMENT of PRIMERICA FINANCIAL SERVICES, INC. on the REVISED NOTICE OF PROPOSED RULEMAKING on the BUSINESS OPPORTUNITY RULE - R511993