Primerica is a multi-level marketing company, according to industry professionals. The business practices of such schemes are often called into question, but they typically are not considered outright scams.Know More
Primerica is an insurance-sales business based on a multi-level scheme, colloquially called a "pyramid scheme" by many. Their sales representatives sell financial products, such as life insurance, term life insurance, mutual funds and annuities. Representatives receive a commission based on sales, with their recruiters also receiving a portion. The recruiter's recruiter, in turn, also receives part of the commission; the chain of commission-sharing goes up to 11 levels of recruiters. As such, representatives are also incentivized to recruit other salespersons and become recruiters themselves to increase their earnings.
To become a Primerica sales representative, a person must pass a background check, for which Primerica charges a fee. Representatives are also highly encouraged to pay a monthly fee for access to a website.
In 2009, Primerica generated 2.2 billion dollars in revenue, most of which came from direct premium payments from customers. Their most popular product was term life insurance. Sales commissions that same year totaled 34.3 million dollars. In 2008, the company took in 2.19 billion in revenue and had a net income of over 167 million dollars.Learn more about Crime
Graviola tree fruit extract, also called "sour sop juice," is an herbal remedy sometimes advertised as being a potent anticancer agent. As of 2014, very little medical evidence exists to substantiate these claims.Full Answer >
Report online fraud by filing complaints with the Federal Trade Commission, the state attorney general's office and the Internet Crime Complaint Center, advises the Department of Homeland Security. The FTC and Internet Crime Complaint Center have online complaint forms for consumers to use.Full Answer >
Consumers receiving scam calls from unknown people trying to obtain personal information or make special offers should report the incident to the online Federal Trade Commission Complaint Assistant. Those receiving phone calls from bogus IRS personnel should inform the Treasury Inspector General for Tax Administration, explains the IRS.Full Answer >
The dinar currency scam, as of 2015, promises profits for investors who purchase the Iraqi currency at present values and hold them until a point in time at which the dinar would be revalued, notes Investopedia. However, the 20 percent markup and the lies about the Iraqi military make it a swindle, notes CNBC.Full Answer >