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Is Prime Meridian Enterprises Review A Legitimate Company or Scam? We are here to give you an unbiased opinion about Prime Meridian Enterprises. Please read on for a full review below.
Prime Meridian Enterprises Review
There is no information regarding who owns or runs Prime Meridian Enterprises in their website.
pme.co.za, the website domain of Prime Meridian Enterprises was registered on 8th September, 2007. Their owner is listed as WA Networks, the address provided is of Gauteng, South Africa.
Prime Meridian Enterprises states on their website that their company is an authorized Financial Services Provider.
On the provided FSP registration number, a search reveals a local address in Bryanston and two important individuals, Dane Matthews and Daryl Mulder.
No additional information could be found on these individuals.
If an MLM company does not reveal who runs or owns it, think twice before joining and/or investing any money.
Products of Prime Meridian Enterprises
Prime Meridian Enterprises sells car and life insurance premiums.
- Prime MotorAssist: roadside help, minor dent & scratch security & mechanical & electrical component warranty. It sells at R49 ZAR a month ($3.70 USD)
- Prime MotorThrift: security for natural fire and disaster, stealing or hijacking, accidental write-off and 3rd party liability (covers cost up to R500,000 ZAR). It sells at R150 ZAR monthly ($11.30 USD)
- Prime Motor Covergrow: same as Prime MotorThrift but also contributed in part or full to repairs. It sells at R149 ZAR a month ($11.23 USD)
- Prime Living CoverGrow: covers unforeseen death due to permanent disability and detection of terminal illness and accident security. It sells at R99 ZAR a month ($7.45 USD)
- Prime Living Legacy: same as CoverGrow but includes voluntary retrenchment and extended family security and also honorable unveiling benefit. It sells at R95 ZAR a month ($7.15 USD)
Between Prime Meridian Enterprises insurance choices, there’s a bit of an overlap, but full comparisons are accessible on the company’s website.
The Compensation Plan of Prime Meridian Enterprises
The affiliates of Prime Meridian Enterprises are paid to sell the company’s insurance plans.
The amount which an affiliate of Prime Meridian Enterprises earns per insurance plan sold is decided by how much is paid in premiums:
- Monthly R99 ZAR customer premium = R10 ZAR commission (75 cents USD)
- Monthly R100 to 149 ZAR customer premium = R12.50 ZAR commission (94 cents USD)
- Monthly R150 to 199 ZAR premium = R17.50 ZAR commission ($1.30 USD)
- Monthly R200 to 249 ZAR customer premium = R22.50 ZAR commission ($1.70 USD)
- Monthly R250 to 299 ZAR customer premium = R27.50 ZAR commission ($2.05 USD)
- Monthly R300 to 349 ZAR customer premium = R32.50 ZAR commission ($2.45 USD)
- Monthly R350 to 399 ZAR customer premium = R37.50 ZAR commission ($2.80 USD)
- Monthly R400 to 449 ZAR customer premium = R42.50 ZAR commission ($3.20 USD)
- Monthly R450 to 499 ZAR customer premium = R47.50 ZAR commission ($3.60 USD)
- Monthly R500 to 599 ZAR customer premium = R55 ZAR commission ($4.15 USD)
- Monthly R600 to 699 ZAR customer premium = R65 ZAR commission ($4.90 USD)
- Monthly R700 to 799 ZAR customer premium = R75 ZAR commission ($5.65 USD)
- Monthly R800 to 899 ZAR customer premium = R85 ZAR commission ($6.40 USD)
- Monthly R900 to 999 ZAR customer premium = R95 ZAR commission ($7.15 USD)
- Monthly R1000 to 1499 ZAR customer premium = R125 ZAR commission ($9.40 USD)
- Monthly R1500 to 1999 ZAR customer premium = R175 ZAR commission ($13.15 USD)
- Monthly R2000 to 2999 ZAR customer premium = R250 ZAR commission ($18.80 USD)
Direct and residual commissions are given out monthly for the life of the customer’s insurance policy in Prime Meridian Enterprises.
Prime Meridian Enterprises gives out residual commission on downline sales of premiums down 3 levels of recruitment (unilevel):
- level 1 (personally enlisted affiliates): 50% commission
- level 2: 25% commission
- level 3: 12.5% commission
The percentages are linked to direct commission rates based on monthly customer premium fees in Prime Meridian Enterprises.
Quarterly Growth Bonus
The affiliates who increase their commissions’ quarter on quarter Prime Meridian Enterprises are rewarded with a Quarterly Growth Bonus.
- Increase of quarter earnings by R250 ZAR = R500 ZAR bonus ($37.60 USD)
- Increase of quarter earnings by R500 ZAR = R1000 ZAR bonus ($75.25 USD)
- Increase of quarter earnings by R750 ZAR = R1500 ZAR bonus ($112.90 USD)
- Increase of quarter earnings by R1000 ZAR = R2000 ZAR bonus ($150.50 USD)
- Increase of quarter earnings by R1250 ZAR = R2500 ZAR bonus ($188.15 USD)
- Increase of quarter earnings by R1750 ZAR = R3500 ZAR bonus ($263.40 USD)
- Increase of quarter earnings by R2500 ZAR = R5000 ZAR bonus ($376.30 USD)
- Increase of quarter earnings by R3500 ZAR = R7000 ZAR bonus ($526.85 USD)
- Increase of quarter earnings by R5,000 ZAR = R10,000 ZAR bonus ($752.65 USD)
Prime Meridian Enterprises Membership
It is free to be an affiliate member of Prime Meridian Enterprises.
The insurance offerings of Prime Meridian Enterprises are targeted at low-income earners.
Its motor insurance products as claimed by the company are designed for those who can’t afford comprehensive maintenance.
Prime Meridian Direct sells their life insurance plans as low-priced life insurance available at present.
The reduced premiums target a specific market making it difficult for an affiliate to accommodate those that wish for deeper or more flexible coverage of Prime Meridian Enterprises.
However, Prime Meridian Enterprises premiums are priced appropriately and seem to be decent value for money.
Yet, as with any insurance policy it is wiser to shop around to compare with what the local competition are offering.
Prime Meridian Enterprises seemingly suffers from faceless corporation syndrome. MLM’s concern is networking and connections and company owner(s) are a big part of that.
Going faceless does not create a beneficial environment for Prime Meridian Enterprises affiliates to feel part of.
Concerning the compensation plan, the commission payments of Prime Meridian Enterprises’ are linked to premium payments alone.
The quarterly bonus at Prime Meridian Enterprises is a nice touch. It encourages affiliates to raise premium sales each quarter and gather a 200% bonus on the increase.
Ideally most of the Prime Meridian Enterprises premium holders would be retail customers. But there’s nothing in the plan to support or make certain of this.
It is likely an affiliate of Prime Meridian Enterprises could sign up and bundle the income opportunity to provide good competition on the insurance premiums.
This means, the company will operate as a pyramid scheme. Yet, with no membership fee or monthly volume quotas, it is an unlikely scenario.
Apart from personal and family security for a Prime Meridian Enterprises affiliate, trading to build a business is sensible.
Recruitment will inevitably take place along the way. But as long as a healthy mix of retail is maintained, there will be no issues with Prime Meridian Enterprises.
Aaron and Shara What Do You Suggest?
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