Primerica’s earns a 2.7-star rating from 107 reviews, showing that the majority of clients are somewhat satisfied with financial services.
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need my money back
i recently was hired by primerica and decided it was not going to work for me. So I told them I was not going to take the job. I just want to get my &69 after the fee of the background check back.
Read full review of Primerica and 35 commentsterm life policy misrepresentations
Primerica currently promotes the use of a "policy assignment" as a security or collateral for loans by sending out the appropriate paperwork, but then denies the accessibility of such service. The term life insurance policy is only beneficial if someone dies within 3 years of having the policy; after that it is worthless and should be called "death insurance" . Get whole life--from any reputable insurance company--and let it work for you while you're living; especially if you live past the first 3 years of paying premiums. If you were unfortunate enough to purchase term life from Primerica--surrender the policy and sue for the return of premiums paid. If enough people sue for the return of paid premiums; they will stop misrepresenting what the product can do.
The complaint has been investigated and resolved to the customer’s satisfaction.
not telling the truth and what everyhting cost
I was invited to a meeting with two reps who said i would make 20k part time and potentially 250, 000 as a broker but have to pay$99 to get your life insurance license' and you would be reimburse the 99 after you get your license.
So after the meeting i didn't know anything about primerica so they invited me to an orientation and at the end they told me all i had to do is pay 125 which is 99 for your IBA = 52 for license 48 for background check and 25 for online course. T
hey also said i could make money by selling home and auto ins instantly which you can sell it but you have to licensed in life ins to collect any money. I wasn't informed of not being able to collect any money I have made selling home and auto insurance until after I started the class. Then after I had spent 15 hours in Life Insurance course which the course is only 20 hours they tell me I would have to pay another 52 dollars for my licenes again which I was NEVER told.
When I filled out the IBA at orientation I was told the $99 covered the cost of the Life Licence. So I call my rep and i told him about the extra $52 that you have to pay upon scheduling to take the test for the Life Licence and he said "Yes, but they reimburse you $52 after if you pass the test.
I told him that he had said $99 covered the Licence and that I would be refunded $99 and it keeps changing.
I told my rep that I wanted my money back and said thank you bye. He then called his supervisor and then she called me, I explained again she said there wouldn't be a problem getting my money back so I told her I would call her tomorrow to get the money thank you bye and hung up. I was agrevated and wasn't hateful but didn't let neither talk when they started saying about the reimbursing.
So I called and texted both my rep and his boss and neither replied their Regional Vice President called me and said that they don't give money back after you take the course. She said we (Primerica) have spent $400 on this class, but I don't find out that I can't get a refund once I started taking the class. I was misinformed that you couldn't get a refund once you have taken the class and when I found out I only had 5 hours left before finishing.
I have invested way more than $400 and can't get a refund because I was lied to for four weeks. I have met with several reps for this company explaining details and I was lied to by every single one of them. When I asked them if $99 is all I need to get my life licence and everyone that I talked to said yes until orientation. Then I meet with several potential recruits wasting more money and time lying to my friends and family because I was lied to. Once I completed 75% of my class time required to get your licence I was informed that you have to call a number to schedule your licence and pay another $52 before you can take the test. I was told that my first $99 taken out four weeks prior covered it but it DIDN'T.
I had spent over 50+ hours working and talking to potential recruit, not including the course (15 hrs), bought a $1000 computer, 6 months worth of internet ($300) for the online course ($25/month), $30 for business cards (you can only order though them), and my supervisors RVP said I wouldn't have a problem getting my money back.
I told her either give me the money back or I'll take her to court and get my money. So she gave me the home office number.
I called and told the Home Office Primerica the total of everything would have been 175 getting started and they say you get $52 back when at the beginning it was $99 refund of your money. They said that you will not be out any money and so far I am $1500+ in the hole. My reps RVP told me I would have not problem getting the money back and when I talked to the home office they offered to give me $69, that they couldn't give me the other $30 back because it is for the processing fee.
The funny thing is i would of paid for the class with no problem the people were nice and friendly but they lied and kept changing the prices about how much it was to start it up before you could make any money. Now I feel like I cant trust these people and it makes me wonder what other lies they are telling good hard working people that entrust this company with your money. I saved everyones number and all documents. All I wanted was to just get my money back.
The complaint has been investigated and resolved to the customer’s satisfaction.
Wow, deluciaroberttn, you need to learn how to write! In your very convoluted story, you failed to mention that it was you, who decided to go out and buy a $1000 laptop. Perhaps the agent did not explain it to you correctly, however, did you do anything while you were "in"? For $99, Primerica will sponsor you for your insurance license, which will cost you a lot more if you try to obtain it yourself. Yes, you have to pay for your test and fingerprints. The good news is Primerica will reimburse you once you are licensed. The bottom line is everyone wants something for nothing. It requires hard work and the only reason it didn't work for those of you who complained is...well, go look in the mirror.
I vivited today with a rep from Primerica and never hear a word about having to pay for anything. As I read these complaints I really think there are some people that had a change of heart and did not listen to the reps or did not bring pad and pen to write things down and get someone to sign the paper as proof of what they were told. CYA FIRST AND FORMOST. DON'T SIGN ANYTHING UNTIL YOU HAVE READ IT. THEN IF YOU ARE STILL UNSURE ASK FOR SOMEONE TO CLARIFY. IF YOU STILL DON'T GET IT GET OUT.
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
Term Insurance vs. Cash Value Insurance
In a nutshell, term insurance
is pure protection. You can compare it to car insurance, in that way. It is used only to provide coverage in the event of a death. Cash value, on the other hand, is protection coupled with a savings vehicle. In other words, your monthly premium for a cash value policy is split up to pay both for the protection and for an investment. Cash value comes under many different names like whole life, universal life and variable life, but the protection under a cash value policy is always term.
Term insurance is just that: protection that you purchase for a specified amount of time, like 20 or 30 years. The theory is that when you are younger and have more debt, a mortgage, young children and little in savings, you need that extra coverage, but as years pass and you have little to no debt and more in savings and retirement, you do not need that coverage anymore. However, if you feel you still need the coverage, you can usually choose to keep the coverage and either pay a larger premium or pay the same premium and have a yearly decrease in coverage. Also, a term insurance policy is a lot less expensive per thousand dollars of coverage than your normal cash value policy, especially if you choose to purchase a level premium policy. In other words, you get more protection power for your dollar.
Cash value insurance, on the other hand, is quite a bit more expensive. The reason for this is that you are not only paying for your life insurance coverage, but part of your monthly premium is going towards an investment. Unfortunately, most times these investments perform very poorly and, by the time you stop paying for your coverage, your investments are gone. Also, unlike term insurance, you are usually paying for protection for most of your life, not just 20 or 30 years.
Many well-read financial advisors and most publications point the consumer towards term insurance. However, because of the large commissions earned on cash value policies, many insurance agents
usually do not bring up the possibility of buying a straight term policy. As a consumer, make sure you always inquire about term insurance or deal with insurance agencies that deal only in providing term insurance to their clients.
The "Buy Term and Invest the Difference" Philosophy
Primerica's crusade began in 1977 with a mission to transform the life insurance industry. At that time, most life insurance agents sold cash-value life insurance, which is a classic example of bundling your life insurance and savings together. That means you would have to choose either protection or cash accumulation: you couldn't get both. If you live, which is most likely you can collect your cash value, but you may lose your life insurance if you receive your cash. Although some cash-value models — like variable universal life — allow cash withdrawals, the death benefit will most likely be reduced if you withdraw a significant amount.
"You buy life insurance for just one reason: to support the people who depend on your income if you die prematurely … You want term insurance." – Newsweek, Jan. 9, 2006
Primerica believes in 100 percent term insurance, 100 percent of the time, encouraging its clients to purchase inexpensive term insurance and invest the difference in savings and retirement. The "difference" means the savings in premium charges between term and cash-value life insurance. With this model, you have greater control over your benefits. Because protection and savings are separate, you can better control both the death benefit and the investment portion.
An idea that once seemed revolutionary, Primerica's "Buy Term and Invest the Difference" philosophy is now widely touted by financial professionals and personal finance magazines.
By encouraging clients to purchase affordable term life insurance. Primerica can focus on the next step in its well-rounded financial education approach: savings.
Primerica is a good company, helping families and educate them. We are in Northern california and with pride of Primerica employee
waste of time
Primerica found my resume online and called me, identified themselves as "PFS". They misrepresented the position they were hiring for. Once I determined they were a financial service, I asked if the job was commission-based, that I was only interested in a salaried administrative assistant position. I was assured it was not. I spend 2 hrs between waiting, watching a video pitching selling/buying their financial services and "interviewing". There was no discussion about what the admin job would entail. The guy said he could not commit to hiring an admin at this time, maybe 60-90 days down the road they might hire from within. I could be eligible only after I become licensed, including securities. Like I said, I was not interested in sales and my time was wasted. An applicant I spoke to thought she was applying for a medical assistant job.
I put my resume on the usual career websites and Primerica said they had the kind of job I was looking for, which I stated from the first was strictly clerical and did not involve sales of any kind. I went to the interview and found out they were lying. It turned out to be one of those phony high charged pep rallies by egomaniacs claiming that everyone could have the kind of lives they wanted if they sold Primerica products. I started to leave and a person at the door shoved a clipboard with an application at me. I was thoroughly disgusted at these lies and strong arm tactics and shoved it back, and left. Now whenever anyone calls stating they are Primerica or PFS representatives and they have a position that would suit me, I hang up. These losers don't deserve politeness. Only a firm NO and then block their number on your phone.
Thank you for this post. You saved me time and gas money. After being called by a representative for an interview which sounded more like a scam even on the phone. I was on my way to the interview, second guessing my better judgment and googled directions to get to the interview only to stumble upon this article and several others from trusted websites. Now I am spending my evening more wisely, investing my time rather in Christmas shopping.
Primerica also told me that the position was salaried and non commission based. What bs.
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
scam
This company will get subscribers and recruits to drink their magic potion and get you wealthy. NOT! Beware, this company is just another multi-level marketing operation. It comes from good roots but has become just the financial services version of any other MLM. Their PFSL and PLICC products are marginal at best, there are SOOOOOO many real financial advisors out there who actually have proper training and experience in a variety of products that you will not have to deal with a life insurance agent who thinks they are Financial experts. The same grease still oooozes from those agents as has always in the Life Insurance Industry. BEWARE because they are wolfs in sheep's clothing. Your friends relatives and neighbors. Someone will get wealthy, will it be you?
Those who either become involved and drink from the chalice of the sacred Primerica oportunity or those who simply have contact with the virus of Primerica will be hounded relentlessly to become a part of their Citi Group sponsored scam. That's right Citi Group can you say OBAMA Bail Out! I new you can.
Steer clear don't get sucked in!
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
rip off artists posing as employers
My boyfriend got a call from a lady setting up interviews. After meeting with a man who promised him $150, 000/ year income we got a knock on our door at 7:00 at night. Three representatives of primerica sat in our home making huge promises and wanting $99 to get you a license. While they were giving my boyfriend their pitch, I looked up the company on thi...
Read full review of Primerica and 6 commentsavoid them
I was involved with Primerica for about 1 1/2 yrs. and went no where. Yes, it does take a lot of committment but to go and recruit people just for the sake of getting promotions is not right. You're told by RVPs you are the next up and coming RVP and going to make a boatload of $$! When I joined I was told by my RVP if I were to go full time I was to get not only my life license but my securities as well. This past fall put the final chapter in my Primerica episode as I went to a heirarchy event. My RVP was with one of his uplines spouse and completely shunned me from introducing me to her. But he made sure to introduce her to 3 of his newly appointed recruits (ages 19, 21 and 23!) whom at the time weren't even licensed but were full time staff! So much for his strict rules for full time agents! They're all full of hot air, so if you don't want to become someones mule, don't do it!
The complaint has been investigated and resolved to the customer’s satisfaction.
hey mg, how many times are you gonna post on this site and say "I am sorry you had a bad experience"
"Be careful to label and hate a company because one person was horrible to you and your experience."
Yes, make sure you label and hate this company, I agree.
"If you work hard money is a bi product sure, but we in our office will do what is best for the client"
Bi product has a hyphen, genius. By the way if its about whats best for the customer, why not refer them to a better company?
I can not believe how many grammar, spelling and syntax errors you have in all your posts. You are truly a Primerican, keep drinking the kool-aid! :)
I am sorry you had a bad experience. Your RVP did not necessarily treat you as a valueable person and no matter how much you desire to do in the business we are all equal in team. Thats the model Primerica believes in. In any company their are people that represent what the mission of the company is and then there are people who destroy its name. Be careful to label and hate a company because one person was horrible to you and your experience. Primerica is a company that allows you to work in the business for 107.00. It trains you in a course that in college, or other companies can cost up to 1400.00. There are no quotas to fill and you can work flexible hours and at your own pace. Your RVP is supposed to help you to obtain the training and support you along the way, so that you can build your business. They are legally not supposed to cold call and cannot obtain personal information from a comprimising source. This is company policy. Instead of abusing the company who has strict moral values and works to do what is best for the consumer, consult the source of your complaint. Some agents may not work by that code of conduct and Primerica needs to know they are out there ruining its name. Yes I work with Primerica. I have not ever been told by my RVP that its about money and me. If you work hard money is a bi product sure, but we in our office will do what is best for the client. If that means free education with out a sale who cares. I want to see people learn about financial responsibility not sell them a product they may not need. I don't bash the competition etc. SO please just know our company stands for good, but it will always attract money greedy bad apples. We want to weed that junk out! I have met the head office people. They dont preach about money making they preach about financial freedom and stability in families they help. Primerica is not a get rich company. Thanks for hearing me out.
AWWW hell no! Primerica is the truth, you ppl need to get the real scoop on this and stop listening to all this propaganda yo
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints there primericacomplaints.blogspot.com
It seems as though the current economy has inspired many underhanded tactics in recruitment. I have just filed for unemployment and was contacted by a Primerica RVP today to interview. He would not disclose where he obtained my contact information, stating only that I was "referred" to him. I began to research this group and surely enough, there are a high number of complaints similar to this one. Thank you for taking the time to post, this group must be struggling for new blood (and therefore money for the RVPs) and is now turning to those in desperate need of work, obviously hoping that this desperation will lead them to join on.
I know that I can not afford to pay in excess of 150 dollars to start working for a company in which my hard work lines the pockets of my supervisor, and not myself, until I climb that oily ladder of compromised moral values.
Haha, ever think the reason you didn't make it was because you are a loser? That ever crossed your mind? Or maybe you are successful in EVERY other area of your life and Primerica was the odd instance. Get real, you didn't work and your RVP didn't introduce you because there was no reason to introduce you - you didn't do ###, why would he? Quit crying and look in the mirror. Every failure in your life is 100% YOUR FAULT! Quit blaming other people!
A Primerica rep tried recruiting me one time. He explained you will get rich by hiring people under you, but to me this is no good. This is mean when you first join you will be making others rich first, not yourself. So after this I just told him I'm no interest, but he won't stop calling me.
you got some major problems. your supposed to be independent thats the whole idea. the problem with all of this is that you should of been introducing your recruits to people. There in lies the problem.
primerica stories
Hello, my name is Alex I am a documentary filmmaker currently working on a project that covers Primerica and Multi Level Marketing. I am looking for interviews with past and current Primerica employees, and family members of past employees. Also I would like to hear from anyone who has a Primerica story in general, be it positive or negative. If you are interested, please contact me at [protected]@gmail.com.
Thank you and I hope to hear from you soon!
- Alex
The complaint has been investigated and resolved to the customer’s satisfaction.
Got my life license Dec. 31 2009, and was appointed with primerica
bout 3-4 days later. Here are the facts about making money as a commission and what i actually was able to do for a family in-terms of savings.
Husband and wife 58 and 55 years old, 5 kids 14-25, they were paying $379.61 in 6 cash value life insurance polices and 1 term life policy per month . the total amount of coverage between all of them came out to 275, 000 in coverage and the cash value in the polices from approx 20-25 years of paying these policies only averaged about 10, 000 dollars.
Note* 25, ooo dollars were on 2 of the oldest kids when they were first born. the husband had 150k and the wife had 75k she did not work and he made about 78, 000 dollars a year.
Here is the policy I provided for them 250k/100k/15k for $235 a month 15-year term policy. Simply, 250 on him, 100 on her, and 15 on all the kids except for the oldest which would be 26 in a couple of months. We pulled out all the cash from the policies and put them into a mutual fund that averages about a 10-12% rate of return.
Couple of things we had to take into consideration, he just refinanced his home at 58 years old for another 30 years for 350, 000 dollars. This poor man will be working till almost 90yrs old. They were barely making it each month. so do the math. 379.61-235 = a Savings of $144.61 They can use this savings to invest in their new mutual fund or they can use it to pay down the principal faster on their home or they can use it pay down other debt. whatever. DID I DO WHATS RIGHT FOR THIS CLIENT? YES! ALWAYS DO WHATS RIGHT FOR THE CLIENT!
Did i make any money on this sale? yes! I made $741.00 do I continue to make more commission on this sale forever like some cash value policies? No.
When i sit in front of clients, I always plainly tell them that if I CANNOT save you any money I will not ask for the business, If the things i explain to them about buying term and investing the rest make sense to you then I will ask for the business. Read suzy orman, dave ramsey, they will always tell you that whole life, universal, variable life is the worst advice that can be given to any family as form of a long-term investment and/or life insurance.
Don't get involved with Primerica. They will ask you for $125 and 25 names and numbers of people who might buy insurance. I feel bad for the Primerica reps on here defending their company. It's not a scam, but... ok well it's pretty much a scam.
Thorpelindustries you have absolutley no clue to anything primerica does! just read the prior to posts they explained it very well. I have been with the company 4 years and i make 59000 a year i quit my job i used to be a financial advisor. and trust me financial advisors at banks are more clueless then you. Primerica teaches great concepts. concepts that i didnt learn whatsoever while at school or at my job. there is nothing like primerica get involved as a client and you will see!
I have read alot of these post and the comments are from people who have no clue what they are talking about. PFS is a great company. I have been a rep for 6 years and enjoyed every bit of it. I started part time for 1 1/2 years, and went full time after FOLLOWING MY PLAN getting out of debt (debt free for 3 years now), saved over a years salary, and became fully licensed. I serve over 600 families, and yes I recruited over 450 of them at one time or another. I make this point out because people misunderstand PFS purpose for recruiting. We recruit to give people an opportunity to learn how to properly manage their finances by giving them the BASIC understanding how financial institutions take advantage of them. Rule of 72, buy term and invest the difference, compounding interest, good debt vs bad debt, and Theory of decreasing responsibility is what EVERYONE needs to know and SHOULD know. Now it is true most people quit at some point, but when they do quit, they have been taught how to read their policies, contracts, and accounts when it comes to their money and can make the right financial decisions. Then of course you have some, like myself, who make Primerica a career and build a great business with it.
I also keep reading post how "expensive" our term insurance is, and I have yet to find anyone to tell me where I can find cheaper term insurance! I am NOT saying Primerica has the CHEAPEST insurance, but we are DEFINATLEY in the top 5 cheapest term insurance that is rated A or higher. Prove me wrong!
I invest my clients money in Van Kampen, American Funds, or Legg Mason mutual funds. Last I checked (this week) PFS does not charge any charges. The fees associated with the mutual funds are set by THOSE companies and we earn a portion of those fees as our commission (which by the way is the same if you were to go invest with any other firm).
I have Esurance for my auto insurance for 2 years now (through Primerica) and saved $89 a month from what I was paying with State Farm and have better coverage.
Prior to becoming a rep with Primerica, I had a VUL with a so called reputable company. I was paying over $250 a month for $500k of coverage for my wife and I. I know have over $1 million in protection for my wife and I for less than $100 a month! And yes I DO invest the difference in a ROTH IRA.
I do have an adequate emergency savings in a money market mutual fund that has served me and my family well.
And last but not least, I have worked with a company prior to working with PFS that sold VUL's and EIU's. I have learned the concepts taught by PFS and they just make sense. I have became a believer in PFS's business and client philosophies and have build a great business with it. I am NOT finacially independent but I am free and make decent money in Primerica.
One other thing, as I stated before, I was with a different company before Primerica and obtained my life license and securites license PRIOR to Primerica. I had to pay about $250 for my life license and $700 for my securities license (cost of classes and test). With Primerica, you pay $99 (which DOES NOT GO to the person who recruited you becase we don't make any money from recruiting) and if you follow the training system, ALL of your licenses will be paid for by Primerica and YES THEY ARE YOURS!
FOR THOSE OF YOU CONSIDERING Primerica, do not make your decision's based on the things people are typing on these types of sites because MANY of them do not know what they are talking about. Even take my opinion for what it is, AN OPINION! Go to the library and read some books on the subject. My recommendations are Dave Ramsey-total money makeover and Smart couples finish rich - David Bach. You want to read more about Primerica itself, read COACH - the Art Williams story or Wikipedia.com does a pretty good job with the history of Primerica or just go to Primerica's public website, Primerica.com and review the concepts for yourself and see if they make sense to you. Also check AM Best (www.ambest.com), and the BBB, just to name a few.
Man I love reading these sites because these comments are so stupid first off people dont invest in primerica or citi. Primerica is a MARKETING COMPANY IT MARKETS OTHER COMPANIES PRODUCTS LIKE WALMART JUST WITH FINANCIAL SERVICES.It uses different investment firms such as van kampen, frank templeton, american funds and even a variable annuity thru metlife but primerica is not an investment company with its own fund that you invest in so it does not have an admin fee but there is a sales charge that the company imposes and with most mutual fund companies they charge 5.75% on A shares if you dont believe me check the website and look up the prospectus info one website you could use is van kampen or american funds website since those are the two companies I trust to invest clients money with.Also you can have your licenses paid for under certain circumstances.In my case the money I paid to take my life insurance test was reimbursed and when I became a district leader in the company the company paid for me to take my securities test. Also with the 25% that is a rep's commission if you work you move up to higher commission alway up to 95% plus we dont sell high margin crap like whole life. WE only sell term which other life insurance companies dont pay that well on but when it comes to whole life they pay you 70% and higher to sell the wrong product for the consumer
Primerica recruits and expects you to buy life insurance, change your auto policy and invest in their products, when Citi is not doing hot. Life insurance policies are more expensive with Primerica when compared with other reputable insurers. Their auto policy may quote you a price and a month later bill you a much higher amount than the premium amount you gave up with your former insurer.
Regarding investing, it is best to check with your financial institution and put your dollars somewhere where they are making a profit, even if small, rather than see your dollars disappear. Hopefully you are watching the news and are preventing an unwise decision with unwanted results; how do you get hard earned money back if you 'invested' it with a company that loses money and charges high administrative fees? If you are in a rush to do a roll-over or invest with Primerica, ask for the administrative fees: from the Primerica office, from Primerica itself, and from Citi. Compare with other institutions.
If you are recruited, they will expect you to be at every meeting and spend money on things including desk space in some cases. If your FAMILY expense budget is not balanced, you are certain to fail; and your recruiter sentiment will be of disappointment with you if you are unable to and if you do not put him/her first rather than your family's needs or other family activities, after all, children are children once, and a soccer game may be well worth more than a Primerica meeting. Timing is everything with family. Timing is always available for investing and pursuing a business, but at the expense of your spouse/son/daughter/s?
The expectation that you sell life insurance and your portion be 25% as opposed to 70=110% in the industry should raise a flag.
Not many people succeed, and for a very good reason; the system is there to benefit the home office from new recruits, sell them expensive life insurance, expensive mortgage refinancing, expensive auto insurance and questionable investment options. Read the news.
If you do get your life insurance license and series 6/63 licenses, you have spent over 500+ on both. Enthusiasm is a good thing to have, but for many families it leads them to financial ruin if your decisions are not made below your means and at the expense of neglecting your family members or even yourself.
Primerica, Amway, and many other multi-level companies have the same components in common: recruit, charge fees, maximize profit from new recruit's naiive enthusiasm.
Those very, very, very few that succeed do so, as in other businesses, because they have several hundred dollars to put into the system, and many families cannot afford to throw several hundred dollars.
changing last name
A couple of years back I got a divorce and wanted my last name changed to my maiden name on my accounts. I called and went thru 3 different associates until finally I got the information regarding changing my last name back. I had then contacted my agent and talked to him to get more details about what exactly to do. I had made copies of the divorce papers stating my name change and issued a check to my ex-husband for the amount that we shared on the joint account. I was just going to let him have all the money and I wrote a letter stating that I wanted him to have the money. I had sent the information off and here I am about 3 years later and still nothing has changed. I had tried to meet with a agent here in Hays, KS but she stood me up as well. I am tired of always having the run around. I am attempting one more time to get this fixed and if this does not work I am going to have to go hire up to get this fixed.
The complaint has been investigated and resolved to the customer’s satisfaction.
Wow thanks for all the great employees of primerica. your the reason that associates and clients like myself are able to benefit from a wonderful system like this. Thanks Regena
To White09: My name is Regena Wood and I am a home office employee of Primerica. If you will contact me directly at Primerica's home office, I would be happy to assist you with the resolution of your concerns. You may email me with your specific concerns and contact information at regena(dot)wood(at)primerica(dot)com.
will not stop bothering me
Primerica will not stop bothering me and now they are trying to make me feel like I'm stupid. They're very high pressure and will not take a simple no thanks for an answer. They tried to get me to sign up and I said no so they decided to sell me Insurance that I don't need. They tell me my Insurance is bad and the one they have is the BEST. They are the only company that has GOOD Insurance! I was not born yesterday. So if they are the ONLY good ones why are they not on the news and headlining the papers?
I do not want to be pushed into something I don't want and made to feel like an idiot for not doing it. I would definitely say to stay away from this company. It is a pyramid scheme no matter what they call it now. It is the same thing. Please be careful and do not jump into anything with these people. If you let them talk to you then before you know it you are being talking into something you don't want. And when you think it over and say no thanks. They get upset with you and get really pushy.
The complaint has been investigated and resolved to the customer’s satisfaction.
I work for Primerica and there is no one I know like that, If someone tells me no I thank them for their time and wish them the best of luck there is 1000's o pond 1000's of people to talk to so why waste time with someone that doesn't understand the good that you can do for them, I wouldn't waste my time. I hope the people you dealt with are no longer working for us because that's not our training. And plus my good sir if you knew anything about Insurance you would know we do have the best one out there because we are not ripping people off with some cash value whole life that pays you a little bit wile the company that sold you that miss is making a killing off of you. If you want to learn something about Insurance then go take a class and learn about all the rip off contracts that are out there, they are all tied to life contracts not Term contracts. But like I said go take a class and learn for your self and get a Life License and be somebody. And that's all I have to say about that.
you sound a bit belligerent. If they did happen to make you feel stupid, it's only because you are a hard headed person.
making absolute statements like " It is a pyramid scheme no matter what they call it now" is absolutely wrong. the company is actually a wall street company.
the company has the most 6 figure income earners in the US, followed by microsoft. Suck on that ###.
It's funny. This site has less than 400 complaints about Primerica compared to the 7, 000, 000+ extremely satisfied clients and agents of company...
It's also hilarious to me that the complainers on this site are the first ones to whine about 'having to SAVE their PTO time for vacation', 'should have gotten a raise by now', 'I do the work of my manager and he/she gets paid more', or my favorite...'Is it Fridaayy yeeeeett?' . However, when you are given an opportunity to eliminate all of that headache and call the shots for once for a small amount of money which you probably blew off on clothes, going out to eat or some b.s. you bought to make yourself feel like you are rich, you are quick to defend that everyday job, boss and co-workers that are giving you a headache. Dummies.
There are more people from outside of our country who realize what a goldmine Primerica is and are willing to work hard for a couple years, learn everything that the wealthy class wouldn't otherwise teach to them and build a legacy for their families. Then, there are the complainers here who deep down want freedom from their jobs, bosses and co-workers but don't want to work to get it. Lazy dummies.
It's even more hilarious that people think someone who holds a title as a "Financial Advisor" or "Financial Planner", has a degree, and uses big terminology knows EVERYTHING there is to know about personal finances. A "Financial Advisor" doesn't know any more than a Primerica Agent with his/her securities license. WE TAKE THE SAME REQUIRED STATE EXAM as your neighbor/friend who is an 'Advisor' for Merill Lynch! The only difference is that he wasted 4 years of his life and thousands of dollars at a university to learn about it and pray that he gets the job as an executives b*&@!. On top of that he's not even gonna sit down with you unless you make 6 figures a year. Titles mean nothing...Self-Education is everything. Profits are better than wages. Don't believe me? Ask the CEO that decided yours. Oh and read a book dummies.
If you are offended by the word 'dummies'...it wasn't for you:)
I have had enuff of pple coming down on Primerica! It's the greatest opportunity on earth!
F--- you Sandra, Primerica pays top dollar to their agents, I bet YourLifeSolution.com doesn't pay s*i* to there reps. We need to lern as a country that it aint all bout the dollar, its bout caring. I showed a family the other day how to save some money on there term insurance over State Farm, GET IT! I helped that family put food in there chidlrens mouth.
With Primerica you not only make bank providing insurance to ppl but also buy giving others opportunity they wouldn't have. Thats what Primerica is about!
Here is the Primerica rate vs the best rate. So much for doing to best for clients, eh Primerica
30year old 1million 20yr pref plus
Primerica Rate $56.53
Best Rate $37.83
35year old 1million 20yr pref
Best Rate $54.74
Primerica Rate $83.13
40year old 2million 20yr standard
Best Rate $243.08
Primerica Rate $316.83
Looks like Primerica doesnt even come close. Not only are they a pyramid scheme, but their rates are terrible. There is no winning with Primerica.
PS I bought my life insurance through YourLifeSolution.com which is where these quotes came from
This company helped me raise my self esteem and become independent. I have helped many clients in so many areas of finance in their life. No, maybe not everyone likes the concepts we teach (though I don't understand why they don't), and there are bad reps out there like with ANY company, so why do you insist on making the whole company bad? Do you blame the drive thru, or burger king for a mistake in your order? ... If you listen to Dave Ramsey, you can see our concepts play out.
To Primerica, "I'm not interested" = "Yes, maybe"
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints there primericacomplaints.blogspot.com
The reason why they won't leave you alone is that they're very recruitment-heavy. And the reason why they want to replace your existing policy is b/c they're trained to sell only term, claiming that all other insurance is bad value. Their intentions are good, but their actions may not be. Case in point, their term is very expensive. Do some shopping and you'll see.
Primerica is not a pyramid scheme, but they ARE MLM. MLM invariably favours the people on the top of the chain, and so commissions get shifted upwards, thereby undercutting the person on the bottom who actually carried out the sale. This situation may not be a bad thing, but it certainly makes it difficult for a new guy to get off on the right start, and forces him/her to recruit in order to climb the ladder.
By the way, this complaint indicates that you have no worries about being stupid!
fraudulent interview tactics
I too, received a call from a recruiter who was interested in putting me in management. Sounded good, I agreed to an interview. The only problem was, the call was very vague and I hung up without having any real information about the company. I had to pry any information out of the guy beyond his first name. That made me uncomfortable enough to check them...
Read full review of Primerica and 8 commentsscam job interviews
Primerica is calling people pretending to be employers with a phone interview. After they say the phone interview is over, they setup a real (fake) interview. The person then dresses up and prepares to interview for a REAL job, but ends up at a conference room full of people to hear propaganda about Primerica. This should be investigated as fraud and at worse the scammers should be forced to pay the gas money they are causing these desperate people to waste going to what they have been told is an interview but is NOT.
NEVER DO BUSINESS WITH THIS COMPANY!
The complaint has been investigated and resolved to the customer’s satisfaction.
It is a great company but I have seen things done wrong buy my friends involved with
Primerica like recruiting and selling insurance while working at their full time job
which is a conflict of intrest and code of conduct violation.If ou want to sell Primerica
do it on your free time not when your clocked in to work for a primary employeer the
comment by stephfries72 reminds me of my friend who is with the business at the top
he makes all the money but the people below get a small fraction of that.
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
Ok, first off I can assure you that Primerica is NOT a multilevel marketing company. It is truely suprising to me the amount of ignorance that people openly flaunt. It is a fact that you are making assumtions about the company with no real basis or facts. Primerica is a publicly traded company on the New York Stock Exchange and are reglated by the State and Federal Government. This is a honest above board company helping average people do something extraordinary with their lives. THe mission is to help families become debt free, properly protected and financially independent. In addressing your complaint, every major company in America today has honest folks and dishonest folks working for them. That is part of life and you it would be impossible to have a company that has over 100, 000 licenced agents and not have a handful that make the whole bunch look bad. But as far as judging the entire company because of one or two people who went about it the wrong way is as silly as saying Dicks Sporting Goods is a scam because a couple of employees stole some shoe laces.. What Primerica stands for is good and honest!
And its a shame that you don't have enough gas to get to your "real job", but keeping that "real job" with "real benefits" and a "real paycheck" leaves you with a pretty poor quality of life if you can't even afford gas money. You have a boss that has his thumb on you and they can cut your benefits or you any time they want. So, if your real job is so great, why are you struggling so bad? JOB stands for "Just Over Broke" and apparently that is where you are and you are putting down a company that has more 6 figure and 7 figure earners than any other company in North America. Funny how people think
SFO
I agree to all your complaints.
Why not just tell people up front it's a multilevel marketing company with no real intention of giving you a job, but instead to coerce you out of $99 in hopes you buy the big idea hook line and sinker. Seriously, times are hard right not, i have barely enough gas to get to my real job and payday is a couple days away. Do you seriously think for one second people don't get upset when they go to a room full of other people for what they believed would be an interview. How about you offer real jobs, with real pay, with real benefits and quit pulling peoples chains for your own financial gain. Primerica may be a good idea and it obviously is successful. However, be more selective with your recruiting and don't prey on poor unsuspecting people looking to get a job and who may be going thru financial difficulty. Trust me, a multilevel marketing company can work if you're honest and upfront. Stop being greedy.
well i am a new employer of primerica and yes they do sit you down to watch a video and listen to a presentation of what the company is all about and how it works. then if you like what you see that's when you get your interview, after you tell your recruiter your interested if you did not like what you saw then you just simply leave and don't get your interview witch that's what you probably did, so get your facts right..
Jose A. Hernandez
not interested in joining, I would like my $99.00 back and do not charge me the $25.00 fee
I am not interested in the business, I did not like the faxes, they were saying; like how I was not going to get paid until I get my Licence for life insurance. Also to much pressure on my nephew to get the information that they seem to need. They want me to work for free, and just interested on making money off me and my family. I want bankruped and they...
Read full review of Primerica and 5 commentsgood company
i just want to say that first of all people are full of excuses as to why they didnt make it in primerica they are told the truth but because some people are lazy they want to get paid so they can sit on the couch like a potatoe and it doesnt work that way people that are stuck in the job mentality are not ment for this business this is for people that want to be free what amazes me the most is that they're so skeptical about primerica yet u show them any quick way to make a quick buck and there down for it without askin any questions. wether is mary kay or avon if u like being told what to do from 9to 5 good for u some of the most succesfull people in the industry if they thought the same way that half of these people do they wouldnt be succesfull u gotta think outside the box everything is attitude it can open doors for u but it can also lock them for u
The complaint has been investigated and resolved to the customer’s satisfaction.
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
and saying people don't what your doing you have to pass test and get lisenced so if you don't think that their not trained enough they problebly actually shouldn't be working for the company anyway. and untrained reps don't sell anything they sit and get trained they can't sale policies anyway. So nice try on that one what else ya got? cause we'll send it right back at you.
on january first everyone made a choice to go get in shape almost half of the united states. well what happened on january 2? all of them quit, does that mean that working out is a scam? No all it means is that people are lazing. their not saying that Primerica is easy. I mean you have to work your tail off. and if you think that you should be able to get paid thousands of dollars for doing nothing and not working hard, well thats why your broke and you will continue to be broke unless you wake up. Primerica has actual facts that prove thousands of families have been helped. every person who complains about this company and says it doesn't work doesn't have any solid proof other than a story they themselves could have made up. the only true fact that any of them have is that they didn't succeed because they didn't work hard and now their broke and mad. calling it a pyramid scheme sounds insane. Mcdonalds hires hundreds of people for what, to give them jobs and help them out right?No It's so they can make money off of them. It's a buisness that's what you do in buisness. the more people they have the more burgers they can flip. therefore the more money the owner gets. and the people they hired get paid for working. Primerica is not a scam it's a job.
I was approached by phone where I work by a woman named Patricia (no last name was given) telling me I had wondering customer service skills and that she was opening branches of a business and was looking for managers. She said she would love to sit down and interview me and we set up a time.
Mind you, I took time from a job I was currently getting paid for to talk to this woman, that takes balls for her to head hunt at a business, during busniess hours and recruit me. She gave me the address where we were to meet. I googled it when I got home and Wa-La. It's Primerica.
I told this woman during our short conversation that I have closed a busniess of 6 years because I no longer wanted to be a boss, I wanted to be a small fish in a big pond because I had obligations during my time off that I needed to care for. This woman still lied (by omission) by not telling me that this was not only a hierarchy, comission and a busniess I would not only have to invest in, train and own, but she wouldn't give me further information about it over the phone.
That raised red flags so I went online when I got home. I just called off the "interview". I think that this is just wrong that this is how they recruit. This is no different that Amway, Pampered Chef or Mary Kay. If I wanted to open a busniess I would pick something I liked rather than having someone try and convince me why thier products are best. I would have been livid had I spent my time travelling to this location and ended up watching a video about Primerica.
In short, if anyone calls you and compliments you and not your boss on your service skills, consider it bait for thier benefit only.
Peggy
Scamming local, desperate people to a fake job interview so you can fill a conference room to hear the propaganda is FRAUD!
No. Primerica is a b.s. company. Some people will not succeed, that's true. The issue is every time I turned around they had another requirement that the recruiter forgot to tell me about. Most of the time it was costing me more money.
On top of that, their life insurance is WAY overpriced. I got the same policy from Allstate for 50% less. The loans they sell had very high interest rates. The investments are crap, and the guy who sold me mine had no idea what he was talking about. He pushed a fund he didn't know a thing about. At this point that account sits there, with less in it than when it was purchased 10 years ago.
Primerica suckers people with no financial experience (hence why they're typically drowning in debt) and makes them think they can be financial experts. Even worse, they then turn these people out onto unsuspecting clients who trust these people to know what the hell they're talking about. They don't!
awful experience
My PFS term life insurance policy has lapsed because my money order did not reach them on time and their Customer Service department claims that they are not equipped to accept payments by phone, via credit card or on-line. In 1994, I invested in Primerica Life Insurance policy because they provided a very good term life policy. By recently having to close my checking account it did not occur to me that there would be a problem making my monthly payments. However, they DO NOT allow its customers to pay by credit card, only by check or money order. PFS is a modern company featuring a website for its agents, salespeople, and those making investments, accepting payments by credit card. Since Citigroup is its parent company there is really no excuse for refusing credit card payments by phone or on-line for life insurance payments, too. If Citigroup accepts credit card payments, then; why is this so impossible for PFS to do so? I expect an explanation from Citigroup and PFS regarding this matter. Surely, PFS can do better.
The complaint has been investigated and resolved to the customer’s satisfaction.
I had met a man from primerica who was providing my grandparents with life insurance. On an appointment he came to me and asked if i'd like to start a business with him in cambridge and what not. i went to one meeting with the man and then said no the job seemed too pushy for me, although he thought i was a "#1" i could see that this job was not for me. He came down on another meeting with my grandmother and requested to speak with me again, he told me that he needed a direct deposit form from me so i could get my bonus from my recruits and other people i had referred to him, i didn't speak to him for another 3 weeks then i see he has taken 103.95 from my account, when i call him he doesn't answer, he just sends me a lame text message saying i agreed to this when i know i didn't.
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
primerica scam?
Primerica like any company in the financial services industry is not a career for everyone. The reputable people I have delt with, for there are people posing as Primerica financial reps.& fraudulantly scamming people out of a good amount of money & are not even part of the organization, are not pushy & admit that this is hard work. Most in the Financial serv.industry work mainly for themselves & primerily are compensated by a commission structure. Primerica seems to be one of the most generous I've reserched, which is why I am taking a second look. Don't forget Building your own biz. is rather expensive today, not to mention the cost of education/licensing, in investment, insurance, & morgage securities, & is a huge risk in this economy. So go into this with your eyes open there are alot of MLM Companies that make it sound easy & are only pyramid scemes. Malti Level mkt. approch seems to offer the most affordable way the average.person to start your own Biz with low operating & investment cost on a part time basis. I have a Family could not take risk of quitting my job for a mainly commision based industry that still payes they brokers at the top most of the money for your hard work...I don't care what company your talking about. I could not afford to open an office(pay rent) hire some people & spend alot of money for education & training at this point. I do pray everyone can finde there nitch & fortunes.
The complaint has been investigated and resolved to the customer’s satisfaction.
For the truth regarding primerica: https://nextaxpro.wordpress.com/category/must-read-exposes/primerica-con-america That settles it!
I work for Mass Mutual Financial Group and we are a top notch company. In the Fortune 500 magazine as one of the most admired company in 2012. What's great about my company is that we are a Mutual company, hence Mass Mutual. What that means is the policy holders own the company and dividends are paid directly to the policy holders not shareholder and policy holders like stock companies do. We have a history of paying dividends to our policy holders for the past 160 years, since they've been in business, which if you are a history buff, that's prior to the Civil War. I have a team of specialists, not ad visors, and if you are or were looking for concepts and strategies that will be what YOU want it to look like, I am the person you want to talk to. My theory is that what I do for my clients must be what's good for them and what I do for them it MUST be something I would do for my grandmother, parents, sister, extended family and my friends. If a financial services representative tells you "this is what's best for you" and not "do you think this fits in what your big picture looks like and if it's not I will go back to the drawing board for you" then run for the hills. What I also tell my clients is this, "There are 2 outcomes that come out of my meetings with my clients: 1. you or I will stand on either sides of the table and say look I appreciate your time but I don't think this partnership is going to work or on the other hand you can say I like what you've brought to the table and I want to build a nice working relationship together. Either way we will still shake hands and part as friends." I respect and cherish my relationships with my clients and want them to feel as comfortable as possible. I will love to sit down and discuss what we can do for each other. Call me at [protected] for a free consultation. - Tom
@learjet 2 - Great post!
@trent, cluephone, and longoria - It's amazing to me how people devote so much energy to tearing down things they don't agree with. I didn't want to believe it but I overheard some of the Primerica reps talking about some of the things that were out here on the internet and wanted to take a look myself. Typically, I don't waste time with opinion based websites but I was alarmed at how misleading the information posted here was.
At any rate, although I have only been involved with Primerica as a rep for a few months (I've been a client for over 10 years), I have already seen some great things the company has done for families. How can you be so sure about your findings if you've never worked with the company? I do not deny that it is a tough business but I'm thankful that I didn't have to quit my full-time job to begin learning. However, I have virtually matched my wife's income the past couple of months and hope to allow her to come home real soon. Maybe I was lucky to be recruited by someone who didn't sell me some "pie in the sky" pipe dream. He told me that the business was not for everyone and that most people don't make it because it requires getting out of the comfort zone. I work in the education world and only have a Bachelor's in Management. Although I don't have all the credentials and experience the posted has, I can see bitterness and bias a mile away. After seeing the stats on how Primerica has dominated the financial services industry in many areas, I can understand why. And seeing how most people would rather make excuses than be honest and acknowledge they just didn't want to put forth the effort to get it done, I can also understand. My mother always told me, "When people can't argue intelligently, they get personal and go into attack mode." She also told me, "What makes a lie believable is that it will always have a little truth in it. But that truth will be twisted." Looking at your post makes me think of that. Here's a few questions regarding the FACTS:
What's wrong with people posting positive comments about a company? Isn't that what most companies encourage ... testimonials?
Are ALL the million dollar earners part of the original founders? Did you know that there are dozens who have taken their income to $1 million who were not part of the original founders?
If only the people at the top make the money, how did 3 of my friends who joined when I didn't 5 years ago become RVP's and are making over $100, 000/yr? One of them actually makes over $200, 000. And there are testimonials in the company of people who have joined since 2000 and taken their income to $1, 000, 000/yr.
What would you say if I told you the bi-monthly payment strategies to pay-down your mortgage is a strategy that top financial advisors like Dave Ramsey and Suze Orman recommend?
Additionally, what if the "basis points" you spoke of were actually off-set by lowering closing cost and fees? I compared a SMART Loan vs a loan from a major mortgage provider. Though the basis points were lower through the competitor, the client's overall cost for the SMART Loan was about $10k less. That's Primerica's true sales point. They educate clients to look at overall cost and time in debt, rather than interest rate and payment. Most mortgage companies, and car salesmen, try to get people to focus on interest and payment because it takes your focus off total cost and how long they'll be in debt.
If Primerica is a "ponzi scheme", why have major corporations such as Genworth, Metlife, Equifax, and Answer Financial joined forces to market their products through them? How did they become a publicly traded company? Why do their agents hold the same licenses you hold?
Did you know that Primerica is an Accredited Member of the Better Business Bureau with an A+ rating? http://www.bbb.org/atlanta/business-reviews/financial-services/primerica-in-duluth-ga-6985
Did you also know that AM Best rated Primerica as a "Superior" Company (A+), Moody rated Primerica as Aa2 (Excellent), Fitch rated A+ (Strong), and S & P rated AA (Very Strong)?
Is “Pay the Eagles and starve the Turkeys” really a strategy of Primerica or are you projecting this onto the company? The overall majority of Primerica reps work part-time so how do people starve if Primerica is not their sole source of income?
How is it false-hope if there are people who have joined the company and been able to achieve the results mentioned?
As for the rates, Primerica never claimed to be the cheapest insurance. The only tout that they have the best product. Is it possible that there are some insurance companies Primerica rates will beat? Absolutely! However, Primerica does so much more than provide insurance so it's not an apples to apples comparison. They offer a complimentary Financial Needs Analysis, debt management strategies (which most financial services companies don't), investment strategies, legal protection, credit-monitoring services w/ identity theft protection, as well as providing an agent who can help the average person understand how money works.
You see, anyone would be a fool to think that Primerica is the only company that someone has had a negative experience with. There's not a company in America that hasn't been soiled by complaints. That's the nature of American business. The true test is how fast and efficiently those complaints have been resolved. You don't get an A+ rating by not resolving customer issues.
If you don't agree with Primerica, then that's fine. But please don't mislead others who are really looking to make a good, fact-based decision about the opportunity. You may be biased against direct sales and MLM, but it has made a lot of folks prosperous.
I cut and pasted the following information, which I found to be very helpful and truthful:
The Primerica Ponzi Pyramid
Submitted by Anonymous on December 28, 2009 – 3:36pm.
Primerica is not exactly a scam, but it is not a very good “opportunity” either. I am going to explain the half-truths, lies, and misleading statements that are used by the Primerica reps to coax people into believing that Primerica is actually a good opportunity for them to become multi-zillionaires. I am also going to compare it to other opportunities in the industry to show how you get screwed by becoming a Primerica rep. DISCLOSURE STATEMENT: I am experienced enough to analyze this topic with a MBA in Economics, series 7, 63, 65 securities license, and 12 years experience in the financial services industry with Wachovia, Morgan Stanley, and AXA Advisors. I have never worked for Primerica. I declined the offer. 1)”If you join Primerica, you will be in business for yourself; therefore you must pay for all of the cost of your business(i.e. licensing, training, and office)” $99 to start then $25 monthly for Primerica online (additional fees will come for training and investment licensing, later.) First off, you are not in business for yourself, you are an independent distributor of Primerica/Citibank products and a select group of mutual fund companies. If you read the IBA’s small print….Any assets or client accounts you bring into Primerica belong to Primerica and you must sign (not 1 but 3) 2 year non-compete contracts (1 investment, 1 mortgage, 1 Insurance). This is the way that Primerica/Citibank push their cost of sales off on their sales force. Reputable investment/insurance companies once hired will take you through a training program and pay for your licensing along with a higher commission payout and the clients are yours. 2)”You can build a team of reps and get overrides so Recruit, Recruit, Recruit.” I equate this to the equivalent of an “Insurance Salesman Mill.” You have heard of a puppy mill….well Primerica’s average rep makes 2.5 sales per year so the only way to keep new business coming in the door is to recruit new people, have the RVP work their warm market during “training” and have that rep hopefully repeat the process, so that you have more people writing less business as opposed to properly training their reps to sell through seminars, networking, or acceptable referral selling practices. This is the ponzi scheme aspect of their business model. If they do not recruit, recruit, recruit the scheme breaks down b/c they are not replacing the 99% of reps that just left the company. The FTC has on several occasions analyzed this model due to the tremendous amount of complaints and concluded that they were not a ponzi scheme because they actually sold a product, but that does not change the fact that the business model is ponziesque in nature. There is not one insurance company in the world that would disallow you the opportunity to build a team of agents under you and the payouts would be much higher, so do not waste your time splitting your commissions with people who do absolutely nothing for your business. 3)”Buy Term Invest the Difference is the only retirement strategy to use.” I do not disagree with BTID for most low/middle-class investors. It is not a cure-all strategy. People who make over 100k per year need permanent insurance, people with complex estate tax situations need permanent insurance, some people who have built up cash value would be crazy to switch from an investment vehicle that grows tax deferred vs. taxable mutual funds. Also the term insurance product that Primerica offers is overpriced when compared with other like-kind carriers with exactly the same features. They must price it that way to accomodate their tierred commission schedule which is well below industry average and pays 4 levels above to people that do absolutely nothing to help you grow your business.(will discuss later). 4) Product line Analysis: 1) The term insurance is way over priced compared to other leaders in the industry. 2) The SMART LOAN product is 100-150 basis points (1%-1.5%)higher with higher closing cost than most other bank equity loan products. They try to sell this by putting the client on a bi-monthly payment plan and illustrate how they can pay it off in less years showing the interest savings but its fuzzy math. You can pay bi-monthly on a 30 year fixed or pay an extra amount per year and accomplish more savings with the lower rate so do not buy it. Do your homeowork and make sure you are comparing apples with apples on the amoritization calculation. 5) “Pay the Eagles and starve the Turkeys” This is an expression that has been used in the insurance industry for years. Basically this strategy is worse at Primerica than any other company I have analyzed or been a part of throughout my career. By recruiting, recruiting, recruiting….. the reps at RVP level keep new business coming in the door because they tell new recruits that part of their “training” will be to offer sales leads from their warm market. The new reps set the appts with people they know (friends, family, co-workers) and the recruiter and recruited go on the sales call as a training session. Because the new rep is not insurance licensed yet, any business that is sold goes under the Recruiter’s rep code (usually RVP) with promises of being paid back later. wink, wink. Also any investment 12b-1 fees that would normally go to the sales person is not paid to reps unless you are RVP level which does not happen at other companies. If you sell a mutual fund as a rep at Wachovia, Morgan Stanley or any other investment house you receive the annual management fee not the person that recruited you. Also the payouts at Primerica start at a paultry 25% where most other companies start out at 45-50% and go up to as high as 90%. If you analyze the income earners in Primerica….you will find that the +/-5 people making over 5 million per year and the +/-43 people making over 1 million per year are all a part of the original founders of the company who are on top of the pyramid. As long as the rank and file keep recruiting, recruiting, recruiting and washing out of the business in 6-8 months, the orphaned accounts that are left keep rolling up to their book of business. Also, if you are one of the naive 1/10 of 1% that get to 100k per year after 10 years and overcome your upline in income you are duly rewarded by him taking your best downline. So in reality they could care less if you grow a successfull business because the top 5% get the business either way, either by washing out of the business and they get the orphaned clients or build a successfull business and they take your best downline. Primerica’s tag line should be “We sell false hope and a misleading, lackluster opportunity.” So the bottom line is…..If you want to sell overpriced, non-competitive products for a lower commission than you could get elsewhere, sign a 2 year non-compete to do that and also pay the insurance company for the right to do it, then Primerica is the company for you. My Advice: Work for a reputable insurance carrier that does not have to pay people like “The Primerica Debate Team” to go to online blogs and write positive things about the company to counter act all of the negative real-life experiences from people who endured the ordeal.
Here is the Primerica rate vs the best rate. So much for doing to best for clients, eh Primerica
30year old 1million 20yr pref plus
Primerica Rate $56.53
Best Rate $37.83
35year old 1million 20yr pref
Best Rate $54.74
Primerica Rate $83.13
40year old 2million 20yr standard
Best Rate $243.08
Primerica Rate $316.83
Looks like Primerica doesnt even come close. Not only are they a pyramid scheme, but their rates are terrible. There is no winning with Primerica.
PS I bought my life insurance through YourLifeSolution.com which is where these quotes came from
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints there primericacomplaints.blogspot.com
scam! uneducated agents!
Primerica needs to get shut down! Biggest rip-off ever.They hire illiterate people to sell insurance, annutities, and etc. People that can't even spell nor add numbers. Primerican pretty much recruits any bum and pothead off the street, so pretty soon, the U.S. will have a 0% unemployment rate. I have a friend that works for them, and claims that he's "living the high life, and is rich!" from Primerica. How can you sell such prodecuts when you barely passed high school and dropped out of college, he could't even pass CALCULUS! The other day he called me because he didn't know the answer to 0 minus 1/2? With AMAZING! math skills like that, he'll blow his money before he even earns it. I went to a meeting, but everyone there were black, so I knew something had to be wrong. If you get help from a Young African American male from Primerica, then you are pretty much asking to get robbed! I'd like to see how well they'd perform on the show "Are you smarter than a 5th grader?"
The complaint has been investigated and resolved to the customer’s satisfaction.
Before you insult people for their lack of math skills, you may want to brush up on your grammar skills. prodecuts = products, could't = couldn't, "I went to a meeting, but everyone there were black" - everyone WAS black, "If you get help from a Young African American" - young does not need to be capitalized.
I could go on and on about how your comment wasn't helpful in the least, or how it was childish and ignorant, but I'll let you show the world how stupid you are with your horrible grammar and typos.
PS: Download Mozilla Firefox, it spell checks for you.
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
Yeah, agree with all above and I actually am fairly middle of the road (leaning right Thanks to Clinton but trying to give this Admin.a fair shake .. it is hard at times!)) ... and am actually with Primerica NOW but I have to agree: what a cowardly comment (actually said probably just to puch our buttons, sit back, crack a cold one, light a j, and laugh @ how upset we all get :-)
I knew I couldn't have been the only one who thought that this guy was a complete [censored]. It's ### like this that won't let society break racial barriers between so many cultures. Unbelievable
You are a total [censored] for your Black comment. There are many ignorant, pothead, stupid Whites are well as any one else. I am not even pro Primerica, however I am totally against this whole new, "hide behind the internet thing" that many racists like you do. You are such a coward that the internet has become the best thing for you. You have such a low self esteem that you have to put down others to make yourself feel good. You can say whatever you want but it doesn't make it so. People like you need any topic for an excuse to put others down. You simple ### low-life hiding behind the keyboard.
There are several things wrong with Waynes post. Let me try to clarify:
First to make money in Primerica you can't be a bum. You do have to learn things. It is not a get quick money making machine.
Second, So what if the person barely passed High school, and does nto know calculus. IF you watn to make things complicated you can, but why. Which is better Debt or no debt? Saving versus investing? Getting 1% on your money or 12%? I mean it might be nice to ahve that college degree, but WHY? You still have to learn about money which they do not teach in college.
Third: Unlike some companies, Primerica makes you go through a back ground check. Not everyone passes. Matter of fact, they ahve stopped people from joining that even had their record expunged. So your commenton Pot heads if just a typical Cash Value agent comment.
As for the Black comment: Are you ignorant or racist? Just because you have stereotypical thoughts, does not mean anyone else has them. I am a white male that thinks the Black man has gotten the bad end of the stick for years. And if they want to better themselves and their families, they should be able to. If they only have a high school diploma but work hard they can exceed. Those are the people who have made Primerica great. It is also the same group that have made America Great. Nto the people who judge others by skin color or school grade or way they speak.
The RVP, or SVP, or whatever phony title he has this week, in one small town was a man who had gotten away with murder as a child. His parents were missionaries in an African country who left him in charge of his younger brother for a brief time. When the parents returned, the baby was dead. I'm sure his dad had to bribe local officials to keep his young son from being charged with murder. He had the idea that he could get away with anything, even murder. He bad-mouthed every other agent in town and even those who weren't agents who disagreed with him. Murder, defamation, and deception were part of his life six days a week. On the seventh, he would recruit people at his local church where they made him an elder. Some day, those around him will catch on. A twist on an old saying goes, "Time wounds all heels".
I would like to say that your "story" is just that. A story. I do not believe a word that you posted. I am forwarding your post to fellow Primerica agents who are "Black" because you are a VERY RACISIT person. I am going to bet that you are a some type of financial agent, whether you work in a bank, mortgages or sell life insurance; and that you are making up lies to hurt the company. Even though this company makes billions of dollars. I'm sorry put I tell it like I see it.
beware
Please beware of the above company. My wife went to them to secure a $10, 000 loan. She was working with a Mike Watson. He called her back on a wed and said that it had been arranged and that all she had to pay was an insurance fee to secure the loan of about $1300.00. Since this was a part of Citi group I did not worry too much about it so my wife sent her paycheck via western union and was told that the loan would be in her account within 12 - 24 hours. On Saturday morning when then money had not arrived she called only to be told that they needed the brokers fee first. They had never disclosed this but it did say that a broker’s fee may be charged on the paperwork she signed. I spoke with them and still to this moment think that it is wrong to have her send money and then tell her later that she has to send more. (It appears the truth I leading dose not apply to them) Well the more was a $989.79 broker’s fee.
Before she sent this I had them send her a letter signed by the president Ronald Tessmer that she would not have to pay another dime and that the $10, 000 would be send after this fee was paid.
We received this letter and my wife released the funds to them via western union. They received the funds and per the letter were to deposit in my wife’s account $10, 000.00 within 6-12 hours. This was on the 5th of April 2007.
My wife received a call on the morning of the 6th from Mikes supervisor (Ms. McAlister) saying that they had made a mistake and that it was going to be for $15, 000.00 and that my wife needed to send them another 700 plus dollars.
Now the letter we received did not have any wording for more fees the last paragraph on the letter from Mr. Tessmer is as follows:
"Upon receipt of payment for Mrs. McCarty’s outstanding closing fee of $989.79, Primerica Financial Institute will transfer in the account of Mrs. Linda McCarty, one fixed rate loan in the amount of $10, 000.00. Funds will be made available within 6-12 hours. May this guarantee serve as verification that there will be no additional fees to be required of Mrs. Linda McCarty’s account beyond the outstanding closing fee of $989.79"
We have the Western Union numbers where they have received the above. Because of their mistake they will not honor this contract and we have been forced to contact the Attorney General of the State of Florida. We will not allow them to refund us any money (that takes 3 to 6 weeks) as we she needs the loan that was promised.
The complaint has been investigated and resolved to the customer’s satisfaction.
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
cancel my transactions
i do not want primerica to take money out of my account and the info that was giving to stop the transaction is not helping me. i believe this company just want your info to just take your money.
The complaint has been investigated and resolved to the customer’s satisfaction.
cancel my pol please i don't have for this my is Adnert Etienne, my Email, eadnert@yahoo.com phone [protected]
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
I cancelled my subscription to POL and recieved a bill 5 days later. Calling to complain tomorrow. This company is ridiculous.
I agree with ggs but I'm also curious as to why you are claiming to be taking your money? Your agent gets paid by the company not by you paying your preimiums. They get paid once for the commission and that is it. So who is taking your money?
Did you try calling the company and cancel any accounts with them, or are you just sitting at home complaining about something that you can fix with a phone call?
job interview
A gentleman named David contacted me after sharing that he found my resume on Job Circle.com. He went on to say that he was looking for an HR Professional for the new Primerica office in Allentown, PA. I asked him for specifics regarding the job. He just kept indicating that I would be responsible for training and developing new hires. When I asked him to email me a copy of the job posting/description he said he would not be able to provide one.
I had informed David that I was contacted by Primerica in the past and was recruited to attend what I thought was an interview. I went on to say that I was displeased when I attended a meeting with several other "candidates" who weren't given an opportunity to share their job credentials; rather, a discussion about how Primerica could help me to help others. The presentation also shared how I could become a financial consultant for those interested in investing. My work experience and college education is Human Resources - I had no interest in financially helping others - nor am I qualified for those duties. I left the meeting feeling scamed.
David promised that this opportunity was much different; but continued to decline giving specifics about the position requirements- he only told me that my title would be Regional VP of HR. Without a doubt, an impressive title - but still not feeling comfortable about the opportunity. After doing additional research I am confident that David was roping me in to a MLM position that I told him on two occassions I was not interested in.
My best advice is to ensure you do your homework before scheduling. This appears to be a scam. From a HR Professional perspective, when I recruit, I am able to share specifics about the job duties and am also happy to provide a job description. David's failure to provide this information combined with my past experience caused me to cancel my "interview" for later this week.
Best of Luck.
The complaint has been investigated and resolved to the customer’s satisfaction.
I worked at Primerica for 2 years and left. I believe in life insurance (level term) and saving for the future. But as far as earning a living at Primerica- forget it!.. You want to drink some serious koolaid and be filled with much false hope. I've seen people come in, get excited and quit their job. A few months later they are screwed. I would NOT recommend trying this unless you don't need the money.
While the rest of you are complaining, the rest of us here at Primerica, those of us who saw what a great opportunity it was and took advantage of it, are doing quite well. We come from all walks of life and occupations and were ready for a change, and those of you who are complaining obviously weren't ready. You were looking for a job in your chosen career, the career that let you down and left you unemployed for however long and you obviously were and are okay working for someone else and having limited income potential. It's "safer" that way. I could spend all day defending Primerica, but it doesn't need a defense. It's a legitimate business model. It's not a get rich quick scam. It takes hard work just like starting any business. Anyone can go to our Primerica website at www.primerica.com and check it out. It's not hard to find. If it's not for you, it's not for you. I'm a librarian with a master's degree in library science. I work in a school system that has chosen to cut their high school librarian positions by half. To the school system, I'm just a position. Who I am, what I've done for my school, and my skills don't matter during a budge cut. I never in my life saw myself dealing with families and life insurance and investments, but I believe in Primerica, the services we offer, and that we are making a difference in the lives of lower to middle class families. I'm sorry you had bad experiences with those agents. My trainer has taught me to do "good business." I've made district leader within a month and a half and I'm looking forward to my future with Primerica.
im currently in the company and i can honestly say that it is so funny how ppl are so quick to say its a scam and to do your homework before joining then continue on commenting on things in which they have no clue about.primerica helps families.period.the more families you help the more money u make . i help a family which included a husband which was the only person bringing in money a say at home wife and two kids. now he had a life ins. that covered him for 2ook which sounds good right..wrong he had 500k in mortgage 20k in auto and 10k in credit card debtso obviously what he had wasnt going to do anything for him. at least not as far as letting his family continue on in the life style that hey are accustomed to. if the wife were to pass she wasnt coverd so hed have figure out a way to pay for child care and do all the the the mother would have normally done, and let me tell u being a mother is a job in itself.and heaven forbid the children died..they dont count on their income obviously but if they did the family would already be emotionally devestaed do they need financial struggles too? i was ablt to get him 5ook for himself because thats wahat he needed 150k for the wife and 15k on each child and saved the 75$ the family was very happy and at ease knowing they were protected. that being saidprimerica is for everyone but not everyone is for primerica. if you like being told what to do when to work and how much money u are worth then its not for you. first off you have to love helping ppl as a nurse that had me. sec. off its not hard to make 1k in 2 hours.so if you feel like you cant make any money then your full of it..what one man can do another can .if you dont your probably a person that deserves a job that person that does just enough to not get hired, what other excuse would you have to not make any money, you dont have to bother your family. i went on a mock appointment, they said they werent interested i said it was fine just let me go through the motions so i can get the feel of how it would be infront of strangers. what better way to learn some ppl use mirrors some record themselves.. why not try real ppl to experience real responses especially with my fam. cuz theyll tell you how it is..i didnt go with the intention to sell big key.also everyone runs their business in different ways. for example i looove carls jr the one near me is awsome.. went to vist fam in la and found a carls jr out their it was so nasty bathrooms were discusting and service sucked big time does that mean every cj is horrible..no..sec.. the 99$ is for the state of california because your pursuing to be AN INDEPENDENT BUISNESS OWNER (which is refundable)you obviously have no clue the financial responsibilities youd have to take on your self else where..gee i though you did your home work, they pay for your licence classes exam which would come out to WELL over 99$ do some research yes some ppl arent th egreates or with best intention but dont hate on ppl who are willing to help othersand have the balls to make an outstanding difference income wise..not everyone in the buis. come in stable im one of them but if youd like to make great income the option is there for you and if you suck of course its gonna take a min but it shouldnt take you longer then 1yr to make 100k and i fyou chose not to its because your obviously content with you mediocrity
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
In response to these complaints, I would just like to let the readers know that I also had been contacted by Matt Lamontagne at Primerica. I work in the Technical field, and because of company cutbacks I was looking to make extra money. But, my personal experience with Primerica has been very very different than what I have read above! When I went in and found that this wasn't a job, but a business opportunity, I was deeply impressed! This company gave myself and my family the chance to make income when no other company is hiring. Matt and this company have actually changed my, my wifes, and my entire family's lives! I started with Primerica at the end of 2009, and I immediately went out and helped my family with their "wrong kind" of insurance. This turned out to be a life changer as my brother had passed away just 4 months after I started with the company. Thank GOD that I had went to see him and my sister-in-law when we did, because we helped protect their lives! Thanks to Matt and this company my sister-in-law and her children were not devastated by this unforseen accident, and did not have to wonder how they would survive with no income! I'm sure that Primerica is not right for everyone, but it definitely WAS for ME!
hdjdks.
In response to the complaint above, I also received a call from Matt Lamontagne after having posted my resume on monster.com and the same ### happened! He called me and asked me to come in for an interview at their Oxford, MA office and I tried multiple times to ask for details but he always came up with excuses and never gave me facts, just repeatedly asked me to come in for an interview! Having being laid off for nearly a year, I was desperate for a job, thus I decided to go in for what I thought an interview for a Business Analyst, but ended up being all these ###s trying to get me to join their cult! This was not a job, but a sales position with income soley based on commision and additional income by scamming your friends to join to get money off of them! They wanted me to become a representative and sell their ### to my family and friends which I furiously refused! PRIMERICA IS INDEED A FAKE! PRIMERICA IS A SCAM! None of these fools work for Primerica as they are mearly respresentatives! Having researched the company after this incident had occured, I found out Primerica only had 1, 100 employees. Matt Lamontagne is just one of the 100, 000 conmen going around trying to recruit people and get them to drink the coolaid! SCAM SCAM SCAM! AVOID AT ALL COSTS!
What a company Primerica is. They do unbelievable things to help families out. But some of the offices and people really don’t care about the clients and/or their new recruits. Two of the biggest and best guys according to Primerica do fraudulent things on a daily basis. Booty’s team forages people signatures on apps when they don’t even know it. They send in loan applications with out even getting the clients permission. They run credit checks on these people without them even know it. They help a ton of people, but they do very illegal stuff and take short cuts. Like me they got me in the business and later found out I had a felony and could not work for the company, but they told me that they could and would take care of that and told me to keep recruiting my friends and family knowing I could not do anything with them. I was number one and built them a team and then they tell me they can’t do anything about it. Wow. And these are the poster children of the Whittle shop. Signing peoples names is way out of line, and the several times Kurt Williams and Booty’s team did it even after several people said it was wrong. Booty even has some new office manager that will not do several things for them because of how bad it would get her in trouble.
Why do people hurt the name of a good company, especially when they are so good at it.
Dear All,
Same thing happened to me !
I received a call from Matt Lamontagne saying that he got my resume through monster and would like to interview me for Entry Level Business Analyst opening which I was very much interested in.
Upon insisting several times also he did not gave me his email address and the job details.
Finally, I thought of giving a try and decided to go for an interview..
As per scheduled, I went to there office in Oxford, MA for the interview.
Initially the company Vice President gave us a small seminar about company operations.
Further I realized that this fools were looking for Financial Representatives who would go to customers/families and do there financial analysis..
Since I dont own a car, I spent around $60 to reach there office in Oxford, MA.
I feel like abusing them so badly fakers !
This company is whole ### and fake !
dont go for it !
Initially they tell you something and later it happens to be something else..
Primerica is fake fake fake !
Primerica sucks beyond saturation!
David is only one person in Primerica. Everyone runs their business differently. I have met many honest and thoughtful people from Primerica. The majority of them are like this. David is probably just one of those rotten apples.
Since insurance is a regulated industry, there are so many audits and checks every month, if a pyramid scheme existed, it would be found out immediately. Primerica has been around for over 33 years. They are the #1 insurance company nationwide, listed on the S&P, and they have no debt, unlike all other insurance companies. This kind of work is not for everyone. Maybe David should retire ... it sounds like he doesn't understand the Primerica mission, nor does he respect the people he comes in contact with.
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Primerica emailsplic@primerica.com100%Confidence score: 100%Support
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Monthly life insurance rate increase from $22.52 to $110.97. This is an outrage.
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints go here> primericacomplaints.blogspot.com
I absolutely rescent this company, I started a blog to help spread the word about them please post your complaints please primericacomplaints.blogspot.com