Primerica
Primerica is the name of a division of Citigroup, which engages in Amway-style multi-level marketing of financial services, particularly insurance. A Primerica agent will typically approach a person to engage in a "financial needs analysis" (FNA), where the person brings in paystubs, bills, retirement plan information, etc. There they are evaluated as to how they are saving money, how much debt they have, and what their goals are. Agents also make money from their downlines.
This MLM distribution network business was originally called A. L. Williams after its founder. It was one of the first group of agents to aggressively sell term life insurance, heavily criticizing other forms of life insurance. Its motto was "Buy term and invest the difference". This approach angered many large insurance companies. Later, A. L. Williams was bought by the insurance and brokerage firm Primerica. A while after A. L. Williams left the company, the MLM division was named simply "Primerica". Sandy Weill's company Commercial Credit merged with Primerica, which later merged with Travelers Insurance, which later merged with Citicorp.
Primerica attracted criticism due to what some describe as dubious practices, unscrupoulousness and agressiveness in client relationships and excessive usage of religious practices. Accusations range from unethical business practices to being a cult. They date back to mid-80s, when A.L.Williams entered the insurance business with previously unheard of MLM techniques. Ironically, while these accusations might be true, Primerica was seen as leading the fight against the dubious practice in the rest of insurance industry to agressively sell whole life insurance.
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