CUF Marketers Review: ₦5000 NGN a month insurance recruitment
CUF Marketers stands for “Corporate and Unique Field Marketers”. The company operates in the insurance MLM niche and is based out of Lagos, Nigeria.
CUF Marketers launched earlier this year and is headed up by its founder, Samson Adeniran.
This entrepreneur has countless years of direct sales experience, but was dissatisfied with other companies and not enough job opportunities to the common man.
He realized that the only way to find a company that will cater for the common man is to create that company.
Prior to launching CUF Marketers, Adeniran (right) was a Syntek Global affiliate.
Syntek Global primarily paid affiliates to recruit new affiliates. Marketing material from the company suggests Adeniran was a Syntek Global “top earner”.
Why and when Adeniran left Syntek Global is unclear.
Read on for a full review of the CUF Marketers MLM opportunity.
The CUF Marketers Product Line
CUF Marketers has no retailable products or services, with affiliates only able to market CUF Marketers affiliate membership itself.
Bundled with CUF Marketers affiliate membership is a ₦1,000,000 NGN ($3336 USD) life insurance policy for under 65s.
On their website, CUF Marketers claim the policy is underwritten by “Custodian”.
This appears to be a reference to Custodian and Allied PLC, an insurance provider based out of Nigeria.
The CUF Marketers Compensation Plan
The CUF Marketers compensation plan sees affiliates paid to recruit new affiliates.
Recruitment commissions in CUF Marketers are paid out via a unilevel compensation structure.
A unilevel compensations structure places a CUF Marketers affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
CUF Marketers cap payable unilevel levels at six, with commissions paid out as a percentage of monthly affiliate fees:
- level 1 (personally recruited affiliates) – ₦400 NGN per affiliate recruited ($1.33 USD)
- levels 2 and 3 – ₦600 NGN per affiliate recruited ($2 USD)
- level 4 – ₦400 NGN per affiliate recruited ($1.33 USD)
- level 5 – ₦280 NGN per affiliate recruited (93 cents USD)
- level 6 – ₦120 NGN per affiliate recruited (40 cents USD)
CUF Marketers Club Rewards reward affiliates for recruiting and maintaining specific numbers of affiliates.
- Club 10 (recruit and maintain 10 fee-paying affiliates) – wall clock
- Club 50 (recruit and maintain 50 fee-paying affiliates) – cell phone
- Club 100 (recruit and maintain 100 fee-paying affiliates) – laptop
- Club 250 (recruit and maintain 200 and fifty fee-paying affiliates) – fridge
- Club 500 (recruit and maintain 500 fee-paying affiliates) – big generator
- Club 750 (recruit and maintain 750 fee-paying affiliates) – flat screen TV
- Club 1000 (recruit and maintain 1000 fee-paying affiliates) – travel package
- Club 2500 (recruit and maintain 2500 fee-paying affiliates) – small car
- Club 5000 (recruit and maintain 5000 fee-paying affiliates) – brand new Jeep
- Club 10,000 (recruit and maintain 10,000 fee-paying affiliates) – ambassador (no specific details provided)
- Club 20,000 (recruit and maintain 20,000 fee-paying affiliates) – ₦2,000,000 NGN a month ($3336 USD)
- Club 50,000 (recruit and maintain 50,000 fee-paying affiliates) – ₦5,000,000 NGN every month ($16,680 USD)
Joining CUF Marketers
CUF Marketers affiliate membership is ₦5000 NGN a month ($16.70 USD).
Whereas CUF Marketers has a product, its bundling with the business opportunity means CUF Marketers affiliates are paid to recruit new affiliates.
Nothing is marketed to or sold to retail customers, with commissions paid as long as recruited CUF Marketers continue to pay monthly fees.
The sole qualifier for earning commissions is payment of monthly CUF Marketers affiliate fees.
All of this combined makes CUF Marketers a product-based pyramid scheme.
As with all pyramid schemes, once recruitment of new affiliates dries up so to will commission payments.
This will start with those at the bottom of the company-wide unilevel struggling to recruit new affiliates.
In time they’ll stop paying their monthly fees, meaning those above them will stop getting paid. If these affiliates cannot replace those they’ve lost, they too will eventually stop paying their monthly fees.
As this effect slowly trickles up the CUF Marketers company-wide unilevel team, eventually an irreversible collapse is triggered.
At that point anyone who hasn’t recruited enough people to recoup what they’ve paid in monthly affiliate fees, loses out.
Mathematics guarantees this to be the majority of participants in pyramid schemes.
One final note, the insurance policy provided through CUF Marketers only applies to those 65 years old and younger.
66 years and older CUF Marketers are charged the same fee, however what is bundled, if anything, with their monthly affiliate fee is unclear.