• Report: #10157

Complaint Review: Primerica

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Fri, December 28, 2001
  • Updated: Fri, November 23, 2012

  • Reported By:San Diego CA
Primerica
San Diego, California United States of America

Primerica Financial Services - Research of its financial products and Business Opportunity, Primerica shows total commitment to resolve all issues and misunderstandings, committed to serving clients & agents Rip-off Report investigates and finds most of what is posted is ridiculous like this title, Primerica Financial Services - Traveler's Insurance, chanting Amen, perhaps comparing Primerica to a cult *UPDATE: Rip-off Report REVIEWexamines the Company and its record of service to consumers and representatives

*UPDATE Employee: Question for Leroy

*Consumer Comment: Lisa in Cleveland

*REBUTTAL Owner of company: Other insurance companies rip people off everyday

*Consumer Comment: Answering Bob's question

*Consumer Suggestion: Leroy seems to practice fuzzy numbers

*Consumer Comment: Primerica smart loans cost the consumer

*Consumer Comment: Make your own decisions

*Consumer Comment: Make your own decisions

*Consumer Comment: Make your own decisions

*UPDATE Employee: Everyone has there own take. I have had nothing but great experiences.

*Consumer Comment: PFS benefits

*Consumer Suggestion: an open letter to employees and reps of PFS

*Consumer Comment: Question about PFS

*UPDATE Employee: PFS isn't for everyone but... for me, its all good

*UPDATE EX-employee responds: This was My experience...

*UPDATE EX-employee responds: This was My experience...

*UPDATE EX-employee responds: This was My experience...

*UPDATE EX-employee responds: This was My experience...

*UPDATE Employee: What you should know before you join

*Consumer Comment: Licensing for Primerica "Advisors"

*Consumer Comment: My Primerica Experience

*UPDATE EX-employee responds: Rip-off...don't be fooled

*Consumer Comment: God and Primerica

*Consumer Suggestion: My take on Primerica

*Consumer Suggestion: My take on Primerica

*Consumer Suggestion: My take on Primerica

*Consumer Suggestion: My take on Primerica

*Consumer Comment: response to Matthew - Rancho Cucamonga

*UPDATE EX-employee responds: General

*UPDATE EX-employee responds: General

*UPDATE EX-employee responds: General

*UPDATE EX-employee responds: General

*Consumer Comment: the fact is Alan is yet another Crimerica Tool

*UPDATE EX-employee responds: Poor performer

*Consumer Comment: For Patrick, the answer is easy

*UPDATE EX-employee responds: Patrick in Orlando - SMART Loan

*Consumer Comment: Patrick

*UPDATE Employee: numbers dont lie

*UPDATE Employee: numbers dont lie

*UPDATE Employee: numbers dont lie

*UPDATE EX-employee responds: PFS Sales Force is the Commodity

*UPDATE EX-employee responds: You continue to help people????

*Consumer Suggestion: The Fall of PFS

*UPDATE Employee: Responding to Stuart

*UPDATE EX-employee responds: Rebutting Matthew (Rancho Cucamonga)

*UPDATE Employee: answer to your questions Jay

*UPDATE Employee: answer to your questions Jay

*UPDATE Employee: answer to your questions Jay

*UPDATE Employee: I am fortunate

*Consumer Suggestion: hey newb, is this groundhog day?

*UPDATE EX-employee responds: Rebutting Newb (Fort Worth)

*UPDATE EX-employee responds: Newb is new

*UPDATE Employee: This all makes me laugh

*Consumer Comment: Dr McGuire

*Consumer Comment: Why all the noise?

*Consumer Comment: Why all the noise?

*Consumer Comment: Why all the noise?

*UPDATE Employee: Primerica is for some...but not all

*Consumer Comment: Instead of being contacted, I was dragged into the meeting....

*Consumer Suggestion: Primerica arghhh

*UPDATE EX-employee responds: Following up with Edgar, La Habra

*Consumer Suggestion: Response to Leroy

*Consumer Comment: Under-insured and overpriced...

*UPDATE EX-employee responds: Edgar (La Habra)

*Consumer Comment: Edgar

*Consumer Suggestion: Response to quotes

*Consumer Comment: primerica quotes

*Consumer Suggestion: Still looking for a top notch comp that will sell term for less

*Consumer Comment: Primerica is the amway of insurance

*UPDATE EX-employee responds: Responding to Paul (Brooklyn)

*Consumer Comment: I'm here to fight profiteers too

*UPDATE Employee: Mike Good Start

*UPDATE Employee: Mike Good Start

*UPDATE Employee: Mike Good Start

*Consumer Comment: Jonathan...you missed the bashing?

*Consumer Comment: Jonathan...you missed the bashing?

*Consumer Comment: Jonathan...you missed the bashing?

*UPDATE EX-employee responds: Another pack of lies by Crimerica's whipping boy Jonathon (Westbury)

*UPDATE Employee: Two sides to a coin

*Consumer Comment: Mike in Belleville

*Consumer Suggestion: Response to Mike in Canada

*UPDATE Employee: Personal Disgust with comments on both sides

*Consumer Comment: Upset friend

*Consumer Suggestion: Primerica, Most Aggressive

*Consumer Comment: Sales is Exactly what it is ....

*Consumer Comment: Sales is Exactly what it is ....

*Consumer Comment: Sales is Exactly what it is ....

*Consumer Comment: Sales is Exactly what it is ....

*Consumer Suggestion: To Stuart

*Consumer Suggestion: To Stuart

*Consumer Suggestion: To Stuart

*Consumer Suggestion: To Stuart

*UPDATE EX-employee responds: To set the record straight with Edgar (La Habra)

*UPDATE EX-employee responds: To set the record straight with Edgar (La Habra)

*UPDATE EX-employee responds: To set the record straight with Edgar (La Habra)

*Consumer Suggestion: Everyone with Primerica

*Consumer Suggestion: to stuart ( and Leroy)

*UPDATE EX-employee responds: To Jay (Little Compton)

*Consumer Comment: What's right isn't always popular and what's popular isn't always right!

*Consumer Comment: Jay

*Consumer Comment: Belated response for Dave

*Consumer Suggestion: Leroy, give it up, your effort is worthless

*Consumer Suggestion: Leroy, give it up, your effort is worthless

*Consumer Comment: Dave in El cajon

*UPDATE Employee: Edwin, Leroy

*UPDATE EX-employee responds: Rebutting Crimerican William the Shiller (Dallas)

*Consumer Comment: Where is the rip off or scam

*Consumer Comment: Where is the rip off or scam

*Consumer Comment: Where is the rip off or scam

*UPDATE EX-employee responds: To Edwin (Mississauga)

*Consumer Comment: Stuart, you might want to check this out

*UPDATE EX-employee responds: Abbott and Costello live on at Crimerica

*Consumer Suggestion: Jay and Leroy

*Consumer Suggestion: dave in el cajun a classic crimerica turdburglar

*Consumer Comment: response for Dave in El Cajon

*Consumer Comment: Questions for Dave

*UPDATE Employee: To Leroy

*Consumer Comment: Tony in Texas

*Consumer Comment: Dave in El Cajon

*Consumer Suggestion: tony the toolman is the latest shill

*UPDATE Employee: To be honest, I think...

*Consumer Suggestion: Reponse to Tony

*UPDATE Employee: Wow..

*UPDATE Employee: Wow..

*UPDATE Employee: Wow..

*UPDATE Employee: Wow..

*UPDATE Employee: As I said....

*UPDATE EX-employee responds: Crumbling Crimerica and the FTC

*Consumer Comment: who compared fixed to ARMs

*Consumer Suggestion: dave in el cajun says it all about crimerica

*Consumer Suggestion: Response to Stuart, Jay, and Leroy

*Consumer Comment: Dave in El cajon is truthful

*UPDATE EX-employee responds: Rebutting Crimerica's whipping boy Dave (El Cajon)

*Consumer Suggestion: Business oppertunity rule and Primerica

*UPDATE Employee: Simple--it is what it is.

*Consumer Suggestion: revisiting Lori part Deux....

*Consumer Comment: revisiting Lori

*UPDATE EX-employee responds: Rebutting shiller Lori of Weston

*Consumer Suggestion: lori, queen of the absurd

*Consumer Comment: Lori in Weston

*Consumer Suggestion: PFS Rep's Story

*Consumer Suggestion: Our corrupt government hard at work

*Consumer Comment: Primerica is a scam. Are 5 recruiters really ever egnough?

*Consumer Suggestion: pyramid scheme, MLM or ponzi scheme.....

*UPDATE EX-employee responds: Crimerica's has a new FTC problem

*Consumer Comment: Your Trustworthy Government at Work

*Consumer Comment: So the Duck wears a chicken suit?

*Consumer Suggestion: Real facts from the Federal Trade Commission

*UPDATE EX-employee responds: Educational commentary to shiller Edgar (La Habra)

*Consumer Comment: Response

*Consumer Comment: The only company selling term

*Consumer Comment: The only company selling term

*Consumer Comment: The only company selling term

*UPDATE EX-employee responds: Rebutting Crimerican Edgar (La Habra)

*Consumer Suggestion: Reponse to stupid Stuart

*UPDATE EX-employee responds: I am addressing the moronic Crimerican whipping boy - Edgar.

*Consumer Comment: I Almost Got Suckered

*Consumer Comment: More Correction Leroy

*Consumer Comment: leroy corrects himself

*Consumer Comment: This argument over mortgages seems a mite silly....

*Consumer Suggestion: jason, listen to leroy

*Consumer Comment: it ain't Wal Mart and Target either

*Consumer Comment: nope, it ain't the simple interest

*Consumer Comment: Jason making extra $1,000 a month?

*Consumer Suggestion: jason in st pete

*UPDATE Employee: Response to Leroy's Mortgage numbers

*UPDATE Employee: Additional Response

*Consumer Suggestion: poor edgar

*Consumer Comment: Edgar

*Consumer Comment: Jay you typical East Coast Jack***

*Consumer Comment: RVP takes commissions

*Consumer Comment: Crimerica

*Consumer Comment: Responding to Robert

*UPDATE EX-employee responds: Crimerica's version of Abbott & Costello whipping boys

*UPDATE EX-employee responds: Crimerica's version of Abbott & Costello whipping boys

*UPDATE EX-employee responds: Crimerica's version of Abbott & Costello whipping boys

*UPDATE Employee: Hmmm.. ??

*Consumer Comment: If It Walks Like A Duck, Primerica Says Its An Eagle

*Consumer Comment: If It Walks Like A Duck, Primerica Says Its An Eagle

*Consumer Comment: Edgar in LaHabra and not-so-SMART loans

*Consumer Suggestion: edgar the typical crimerica moron

*Consumer Comment: Customer

*Consumer Comment: Robert in Modesto

*UPDATE EX-employee responds: They're crawling out from the woodworks again (Robert - Modesto)

*UPDATE Employee: Primerica is Awsome...

*Consumer Comment: Madeline

*UPDATE EX-employee responds: Something for Madeline (Long Beach)

*Consumer Suggestion: dear madeline

*Consumer Suggestion: dear madeline

*Consumer Suggestion: dear madeline

*Consumer Suggestion: dear madeline

*UPDATE Employee: From Madeline in Primerica to Leroy and Stuart/My 2nd time now

*UPDATE Employee: From Madeline in Primerica to Leroy and Stuart/My 2nd time now

*UPDATE Employee: From Madeline in Primerica to Leroy and Stuart/My 2nd time now

*Consumer Comment: Madelline passes on some myths

*UPDATE EX-employee responds: Don't these Crimerican bottom feeders ever learn?

*Consumer Comment: Primerica client, advocate, and future owner

*UPDATE EX-employee responds: Responding to Amber (Regina)

*Consumer Comment: Meeting in IL

*Consumer Comment: Meeting in IL

*Consumer Comment: Meeting in IL

*Consumer Comment: Meeting in IL

*Consumer Comment: Total Ignorance....news flash, not all of us "po' folks" are imbeciles

*UPDATE EX-employee responds: Where do your loyalties lie (Wichita)?

*UPDATE Employee: Leyroy

*Consumer Comment: Gary still has no clue about rest of industry..evenm after being told

*UPDATE Employee: Stuart in NJ

*UPDATE EX-employee responds: Poor Poor Gary (Wichita)

*Consumer Comment: Agree to disagree and then retreat...that works

*Consumer Comment: Agree to disagree and then retreat...that works

*UPDATE Employee: Same Old Same Old Stuart in NJ

*Consumer Comment: Here is my suggestion

*UPDATE EX-employee responds: How to milk the Primerica opportunity for newbies

*UPDATE Employee: Agree to Disagree

*UPDATE Employee: Agree to Disagree

*UPDATE Employee: Agree to Disagree

*UPDATE Employee: Agree to Disagree

*Consumer Comment: Average People

*UPDATE EX-employee responds: Responding to Will (Fairfax Station)

*Consumer Comment: slightly more for a loan

*UPDATE Employee: Response to Will's Request for Info

*UPDATE EX-employee responds: Responding to Frank, Las Vegas

*Consumer Comment: financial education

*Consumer Comment: Will in Fairfax - I have primerica's rates. They stink. Do a search for my name on this board and you'll find lots of places where I compared primerica prices to other highly rated companies.

*Consumer Comment: Will in Fairfax - I have primerica's rates. They stink. Do a search for my name on this board and you'll find lots of places where I compared primerica prices to other highly rated companies.

*Consumer Comment: Will in Fairfax - I have primerica's rates. They stink. Do a search for my name on this board and you'll find lots of places where I compared primerica prices to other highly rated companies.

*Consumer Comment: Will in Fairfax - I have primerica's rates. They stink. Do a search for my name on this board and you'll find lots of places where I compared primerica prices to other highly rated companies.

*Consumer Comment: Where can we get hard data on Primerica's services?

*Consumer Comment: So Primerica attacked the host of this website - read this!

*UPDATE EX-employee responds: Making money at Crimerica's expense.

*UPDATE EX-employee responds: Making money at Crimerica's expense.

*UPDATE EX-employee responds: Making money at Crimerica's expense.

*UPDATE EX-employee responds: Making money at Crimerica's expense.

*Consumer Comment: Maxine in Illinois

*Consumer Comment: Chester in Utah

*Consumer Suggestion: Primerica, A.L.Williams? Citigroup?

*Consumer Comment: Possibly a PFSU Recruit

*Consumer Suggestion: well said, unfortunately

*Consumer Comment: A (Real) Financial Professional's Response

*Consumer Comment: Mike in Oshawa

*UPDATE Employee: Crimerica?

*Consumer Suggestion: Charles, do your self a favor and listen to Leroy

*Consumer Comment: Charles in Baton Rouge what happened to #1? Every other primerican has been claiming Citigroup is the largest financial services company in the world.

*UPDATE Employee: Please Explain

*UPDATE Employee: most of you really dont seem to know what youre talking about

*Consumer Comment: No in Orlando

*REBUTTAL Individual responds: All too familiar...good and bad

*Consumer Comment: Jose in Milpitas

*UPDATE Employee: Currently taking Life Agent classes through PFSU

*UPDATE Employee: Why I think this report got submitted.

*Consumer Comment: Dean in Zionsville is right

*Consumer Suggestion: Opportunities - your values, your reasons...

*Consumer Comment: You are NOT helping people!

*Consumer Comment: Robert in lafayette

*Consumer Comment: Robert in lafayette

*Consumer Comment: Robert in lafayette

*Consumer Comment: Robert in lafayette

*UPDATE EX-employee responds: Do they really have the consumers interest in mind?

*UPDATE EX-employee responds: Adding to Leroy's response about PFS myths with regard to Shannon.

*UPDATE EX-employee responds: Adding to Leroy's response about PFS myths with regard to Shannon.

*UPDATE EX-employee responds: Adding to Leroy's response about PFS myths with regard to Shannon.

*UPDATE EX-employee responds: Adding to Leroy's response about PFS myths with regard to Shannon.

*Consumer Comment: Shannon in Riverside

*UPDATE Employee: You people are sad

*UPDATE EX-employee responds: LOL - Dunsten

*UPDATE Employee: I choose to stay IN Primirica becuase they are a great stepping stone into the industry

*Consumer Comment: Scheduled versus simple interest loans

*Consumer Suggestion: Run, don't walk, as far away from Primerica as you can!

*UPDATE Employee: Well Isn't that Special

*Consumer Comment: Gary, dave, SMART Loans & other things

*UPDATE Employee: Hey All.

*Consumer Suggestion: Consider This.....

*UPDATE Employee: Been a while, but...

*UPDATE Employee: Whew! That's a lot...

*UPDATE Employee: Hey Doug, What's up?

*UPDATE EX-employee responds: Facts are Facts

*UPDATE Employee: Simmer Down

*UPDATE Employee: Leroy - off to the Wilderness Parks

*UPDATE Employee: How About some Civilized Conversation?

*Consumer Comment: possible reason for primerica's anemic growth

*Consumer Comment: Ron in Bonita changes story

*REBUTTAL Owner of company: Much Ado about Primerica...

*UPDATE Employee: Response to Leroy

*Consumer Comment: Response to Ron

*Consumer Comment: In response to Jymn

*Consumer Comment: In response to Jymn

*Consumer Comment: In response to Jymn

*Consumer Comment: So far so good.....

*Consumer Comment: Ok, I've read the "For's and the Against's"

*UPDATE Employee: Response to Stuart

*UPDATE Employee: senior representative

*UPDATE EX-employee responds: I see Ron the Shiller (from Bonita) finally came back

*UPDATE Employee: Leroy apparently has NO business

*Consumer Comment: It is funny!

*Consumer Comment: Joe in Texas asks about turnover rate

*Consumer Comment: Primerica Reputation

*Consumer Comment: A College Student Perspective

*Consumer Comment: To Dave in Chicago

*Consumer Suggestion: Important Safety Tips

*UPDATE Employee: To Sally - in Staten Island

*Consumer Comment: Just contacted today

*Consumer Comment: All liars...

*UPDATE Employee: To Dave in Chicago

*UPDATE Employee: An Honest Opinion

*Consumer Comment: Rebuting Rhonda

*UPDATE EX-employee responds: Rebutting Rhonda (Northfield)

*UPDATE Employee: Newer Observation

*Consumer Comment: Taylor, it seems to me that you are spouting the same line of BS that every single primeridork parrots about people who think primerica isn't such a hot deal for the consumer.

*UPDATE Employee: It Seems to me

*UPDATE Employee: It Seems to me

*UPDATE Employee: It Seems to me

*UPDATE Employee: It Seems to me

*UPDATE EX-employee responds: The real Primerica opportunity, revisited

*Consumer Comment: All they do is pass the kool-aid

*Consumer Comment: Joe in New York found out what primerica hid from him

*Consumer Suggestion: A Better Way

*UPDATE EX-employee responds: Getting started off on the right foot at Primerica

*Consumer Suggestion: Primerica..shady

*UPDATE Employee: Insurance Operations 101 for Stuart

*Consumer Comment: Travis talks about 3 lies

*Consumer Comment: Travis talks about 3 lies

*Consumer Comment: Travis talks about 3 lies

*Consumer Comment: Travis talks about 3 lies

*Consumer Comment: The Nature Of Business

*REBUTTAL Owner of company: Primerica is an amazing company

*Consumer Comment: Hi Boys. Did you miss me?

*UPDATE EX-employee responds: For newbies: How to further your opportunity at Primerica

*Consumer Suggestion: Understand...

*Consumer Suggestion: Understand...

*Consumer Suggestion: Understand...

*Consumer Suggestion: Understand...

*UPDATE Employee: Stuart, you must have Alzheimer's

*UPDATE EX-employee responds: How new trainees start to make money from Primerica

*UPDATE Employee: Reply to Stuart, although it is probably a waste of time

*UPDATE Employee: Leroy, you might want to focus on accuracy.

*UPDATE Employee: Leroy, you might want to focus on accuracy.

*UPDATE Employee: Leroy, you might want to focus on accuracy.

*UPDATE Employee: Leroy, you might want to focus on accuracy.

*Consumer Comment: Sara in Frankfort

*UPDATE EX-employee responds: For trainees: How to increase your bottom line at Primerica

*Consumer Comment: you should be ashamed...

*UPDATE EX-employee responds: No. 18 on making the most of the Primerican opportunity (for new agents)

*UPDATE EX-employee responds: No. 18 on making the most of the Primerican opportunity (for new agents)

*UPDATE EX-employee responds: No. 18 on making the most of the Primerican opportunity (for new agents)

*UPDATE EX-employee responds: No. 18 on making the most of the Primerican opportunity (for new agents)

*Consumer Comment: Primerica IS legal...and it DOES work

*Consumer Comment: ken...you could have done better

*UPDATE EX-employee responds: Bottom line w/ Primerica What are you waitng for????

*UPDATE Employee: Stuart, GET OVER IT

*UPDATE Employee: Its All Political!!!

*UPDATE EX-employee responds: Inside Secrets to Milking Primerica for All it's Worth

*Consumer Comment: It is too late to save you

*UPDATE EX-employee responds: They said that I was so good at selling that they wanted me to Manage their office with them.

*UPDATE Employee: wow

*UPDATE Employee: Ponzi Scheme? History lesson

*UPDATE Employee: leroy, rebuttal

*UPDATE EX-employee responds: Taking advantage of the Primerica opportunity for new agents

*UPDATE EX-employee responds: Reenforcement lesson time on Making More Money at Primerica

*UPDATE Employee: Food for thought

*UPDATE Employee: Give it up, Stuart

*Consumer Comment: Umm Pyle

*UPDATE EX-employee responds: Step #two to making more money with Primerica

*Consumer Comment: Pyle in Maryland.... you can only sell for one insurer?

*Consumer Comment: Steve in Vegas is a college graduate

*UPDATE EX-employee responds: The secret to making more money from Primerica

*UPDATE Employee: Both arguments are pathetic

*UPDATE EX-employee responds: Um.....

*Consumer Comment: Edwin in Mississippi

*Consumer Comment: Rebuttal to Ron

*UPDATE EX-employee responds: Making More Money for Primerica trainees:

*UPDATE EX-employee responds: Making More Money for Primerica trainees:

*UPDATE EX-employee responds: Making More Money for Primerica trainees:

*UPDATE EX-employee responds: Making More Money for Primerica trainees:

*Consumer Comment: I love how you deflect my points Ron.

*Consumer Comment: Others things illinformed primericans have stated

*UPDATE Employee: Gary, you are wrong.

*Consumer Comment: $100k to start an agency???? Laughable! typical primerica RVP

*Consumer Comment: $100k to start an agency???? Laughable! typical primerica RVP

*Consumer Comment: $100k to start an agency???? Laughable! typical primerica RVP

*Consumer Comment: Wrong Again Ron

*UPDATE EX-employee responds: Rebuttal to Ron (Bonita)... What does up front cash prove? And other Primerica comments...

*UPDATE Employee: Easy, Skull Pilot...

*UPDATE EX-employee responds: Responding to Ron from Bonita and another Public Service Announcement

*UPDATE EX-employee responds: Responding to Ron from Bonita and another Public Service Announcement

*UPDATE EX-employee responds: Responding to Ron from Bonita and another Public Service Announcement

*UPDATE EX-employee responds: Responding to Ron from Bonita and another Public Service Announcement

*Consumer Comment: Ron- nice tirade

*UPDATE Employee: Stuart, here's your olive branch...

*Consumer Comment: I have a life Ron. It's obvious that you don't. - You exploit new recruits so you can make money and freeze them out of commisons all the while telling them that they own their business.

*UPDATE EX-employee responds: Rebutting Gary (Curits Bay)

*UPDATE Employee: I am not buying for a minute that you are just concerned about the clients out there, or the PFS agents, because if really were concerned about clients, there are firms out there that are RAPING customers

*REBUTTAL Owner of company: Competitiveness

*UPDATE EX-employee responds: Primerica lies and uses dirty techniques to recruit

*UPDATE EX-employee responds: Rebutting Loser Ron (Bonita)

*Consumer Comment: Trainers have to get paid?

*Consumer Comment: Bill in Fredriksburg...YES, I have issues with primerica........I don't like the way primerica cyncically overcharges its customers, underpays its agents, and then brainwashes all of them into thinking they are doing them a favor.

*Consumer Suggestion: RON, ENOUGH DEFENDING THIS DUMP, YOU DONT MAKE THE MONEY YOU CLAIM

*Consumer Suggestion: RON, ENOUGH DEFENDING THIS DUMP, YOU DONT MAKE THE MONEY YOU CLAIM

*Consumer Suggestion: RON, ENOUGH DEFENDING THIS DUMP, YOU DONT MAKE THE MONEY YOU CLAIM

*Consumer Suggestion: RON, ENOUGH DEFENDING THIS DUMP, YOU DONT MAKE THE MONEY YOU CLAIM

*UPDATE Employee: Note to Tom

*UPDATE Employee: Leroy you have issues!

*UPDATE Employee: Stuart, you are a buffoon

*UPDATE EX-employee responds: Time for classroom lessons Ron (Bonita) you're doing more to discredit Crimerica than I ever could

*UPDATE Employee: Stuart's Inane Ranting

*UPDATE EX-employee responds: Responding to Tom (Gahanna) - You could set an example for Crimericans.

*UPDATE Employee: Response to Eduardo

*Consumer Comment: here is a suggestion

*Consumer Comment: doing what is right 100% of the time

*UPDATE Employee: Enough is Enough

*UPDATE EX-employee responds: Rebutting clueless Ron (Bonita)

*Consumer Comment: Primerica is just another Amway

*UPDATE Employee: Response to Tyler

*UPDATE Employee: Stuart from NJ apparently rode the short bus to "school"

*UPDATE EX-employee responds: A whale of a tale (rebutting Ken from Dundalk)

*Consumer Comment: Ron , re: lady complaining

*UPDATE Employee: Apples and Oranges

*Consumer Suggestion: how is primerica NOT a ripoff

*Consumer Suggestion: how is primerica NOT a ripoff

*Consumer Suggestion: how is primerica NOT a ripoff

*Consumer Suggestion: how is primerica NOT a ripoff

*UPDATE EX-employee responds: Rebutting Crimerican Ron's postings of 2/12 and 2/14

*UPDATE Employee: Leroy, I couldn't say for sure...

*Consumer Comment: Ron..look at the other thread about Primerica ripoff.

*UPDATE Employee: Stuart must be smoking crack...

*UPDATE EX-employee responds: Correcting Ron (Bonita) and responding to Leroy

*Consumer Comment: why mutual funds took big drops

*UPDATE EX-employee responds: Very interesting statement Leroy (Tulare)

*Consumer Comment: Theory of Diminishing Responsibility

*Consumer Comment: why would the couple in question pay $100 a month more in premium with Primerica in order to have the option of MAYBE lowering their death benefit and premium in later years?

*UPDATE EX-employee responds: Responding to Skull Pilot (Alaska)

*UPDATE Employee: SKULL & STUEY - EVERY successful company in the world employs "underlings"...which they are fond of calling employees.

*Consumer Comment: Keep up thr name calling Ron.

*UPDATE EX-employee responds: Leroy proves that Crimerica discriminates against women and the middle class

*UPDATE Employee: Rebuttal to Stuart & Leroy

*Consumer Comment: Primerica is for the little guy

*UPDATE EX-employee responds: Let the readers decide oh Great Ron

*UPDATE EX-employee responds: Another rebuttal to Ron (Bonita)

*Consumer Comment: selling lowest price

*Consumer Comment: Game , set, match point

*Consumer Comment: Game , set, match point

*Consumer Comment: Game , set, match point

*UPDATE Employee: Anthony, do you even have a clue?

*UPDATE Employee: Skull, we make SURE they invest the difference

*UPDATE EX-employee responds: Chargeback clarification for Stuart

*Consumer Comment: Ron, you call me naive?

*UPDATE EX-employee responds: Crimerican Ron admits Crimerica discriminates against women ..just another shiller for Crimerica

*UPDATE Employee: Loan Lesson for Leroy and Skull Pilot

*Consumer Comment: Lets do the math PFS Ron

*Consumer Comment: gee Ron, you're scaring me

*Consumer Comment: Rebutting Ron

*UPDATE Employee: Response to the 3 amigos

*Consumer Comment: The usual name calling from a so called PFS professional

*UPDATE EX-employee responds: Rebutting Ron of Bonita

*UPDATE EX-employee responds: Rebutting Ron of Bonita

*UPDATE EX-employee responds: Rebutting Ron of Bonita

*UPDATE EX-employee responds: Rebutting Ron of Bonita

*UPDATE EX-employee responds: Rebutting Ron(ald McDonald) from Bonita

*UPDATE Employee: Response to Stuart

*UPDATE Employee: Response to Debra. PFS reps don't watch training tapes and then go out in the field, zombie-like, and blindly repeat something that someone said verbatim.

*UPDATE EX-employee responds: Ron - You better check your rah-rah tapes

*UPDATE EX-employee responds: PFS has lots of issues Ron, that keeps getting ignored

*UPDATE EX-employee responds: Another rebuttal to Ron (Bonita)

*UPDATE EX-employee responds: Another rebuttal to Ron (Bonita)

*UPDATE EX-employee responds: Another rebuttal to Ron (Bonita)

*UPDATE EX-employee responds: Another rebuttal to Ron (Bonita)

*UPDATE Employee: Putting the BS to Bed

*UPDATE EX-employee responds: Further rebuttal to Ron (Bonita)

*UPDATE EX-employee responds: Rebutting Dallas (San Antonia)

*Consumer Comment: Keep trying Ron.

*Consumer Comment: Dallas... the problem starts with PFS

*UPDATE Employee: Rebuttal to Skull Pilot, Leroy & Stuart

*UPDATE Employee: All companies have problems

*Consumer Comment: Ron says that Primerica often uses a blended interest rate that is often lower than the client's home loan and consumer rates combined.

*Consumer Comment: answering skull pilot

*Consumer Comment: answering skull pilot

*Consumer Comment: answering skull pilot

*UPDATE EX-employee responds: Rebutting Ron (Bonita)

*Consumer Comment: What are the real questions

*Consumer Comment: You choose to sell products that you know are not the best value

*Consumer Comment: Ron.. Calif Dept of Insurance had a lot to say

*UPDATE Employee: Response to Jay and Skull Pilot

*UPDATE EX-employee responds: To Ron: Primerica is a joke, it is what it is..

*Consumer Comment: Do you really want to match wits?

*UPDATE EX-employee responds: Clarification request for Ron (Bonita) sounds like more PFS double-talk

*Consumer Comment: **tap tap** (tapping foot impatiently) ...still waitiing

*UPDATE EX-employee responds: Responding to Ron (Bonita)

*UPDATE Employee: Rebuttal to Skull Pilot

*Consumer Comment: PFS gives superior service? ..every primerica policyholder I ever ran into had the same complaint

*Consumer Comment: Not minor flaws; Character flaws

*UPDATE Employee: For Debra and Skull Pilot

*UPDATE EX-employee responds: Rebutting Scott (Arlington)

*UPDATE EX-employee responds: Rebutting Scott of Texas - Many PFS agents use mis-leading scripts to get the prospect to their office

*Consumer Comment: Answering Scott = Its a brilliantly concieved marketing idea designed to sell overpriced products by exploiting individuals without much sophistication or experience as both the buyer and the seller.

*Consumer Comment: For Ron, I said the up line exploits a new recruit.

*UPDATE Employee: Questions for you

*UPDATE Employee: Questions for you

*Consumer Comment: P.S - D in Victorville

*UPDATE EX-employee responds: Ron hasn't been with PFS to realize the truth yet

*UPDATE EX-employee responds: Further rebutting D (Victorville)

*UPDATE Employee: And now for you Leroy...

*UPDATE Employee: Back to you Stuart

*UPDATE Employee: Response to Kitka's "Exploitation is a Rip-Off"

*Consumer Comment: Exploitation is a rip off

*UPDATE Employee: Primerica may be a lot of things, but it is NOT a rip-off.

*UPDATE Employee: Primerica may be a lot of things, but it is NOT a rip-off.

*UPDATE Employee: Primerica may be a lot of things, but it is NOT a rip-off.

*Consumer Comment: Scam... It really does seem like a scam, if they would call some one with out even a high school diploma.

*Consumer Comment: D in Victorville says.. attempting to defend the indefensible 'Wow, show me a single whole life policy that has a lower premium than Primerica term

*Consumer Comment: D in Victorville says.. attempting to defend the indefensible 'Wow, show me a single whole life policy that has a lower premium than Primerica term

*Consumer Comment: D in Victorville says.. attempting to defend the indefensible 'Wow, show me a single whole life policy that has a lower premium than Primerica term

*Consumer Comment: D in Victorville says.. attempting to defend the indefensible 'Wow, show me a single whole life policy that has a lower premium than Primerica term

*UPDATE EX-employee responds: Rebutting D (Victorville)

*Consumer Comment: rebuttal to last post by Stuart - I am in no way affiliated with Primerica. I am just offering my opinion.

*UPDATE Employee: Just to clear a few things up.

*UPDATE EX-employee responds: Rebutting Jesse (Glenwood) you must have overlooked this

*UPDATE Employee: About Attained Education and Primerica; Also, Why Primerica Itself is a Valuable Part of Citigroup

*Consumer Comment: Run as fast as you can from Primerica

*Consumer Comment: Primerica not a Ponzi scheme

*Consumer Comment: RipOff Report, I Owe You 8-10 Hours A Week

*Consumer Suggestion: I got my call, so glad for this report. Thank you!

*Consumer Comment: Ponzi's original marketing scam remains firmly in place at Primerica

*Consumer Comment: being a Regional Vice President with primerica really doesn't mean much.

*Consumer Comment: Just some questions

*Consumer Comment: Contacted by Primerica

*Consumer Suggestion: Recruited by Primerica

*UPDATE EX-employee responds: Rebutting Cody (Rochester) further

*UPDATE EX-employee responds: Not Ownership Cody

*Consumer Suggestion: It's just a lack of life experience, Cody

*UPDATE Employee: Points refuted

*UPDATE EX-employee responds: Also for Cody, scan a copy of the RVP contract

*UPDATE EX-employee responds: Rebutting Cody (Rochester)

*UPDATE EX-employee responds: Skull Pilot: Very Articulate Point

*Consumer Suggestion: Cody, Your mortgage example is flawed and your logic is a little off.

*UPDATE EX-employee responds: I made the best of it

*UPDATE EX-employee responds: Cody, there are some things you should understand.

*UPDATE Employee: I think your missing the point... in a sense, you're right. We aren't comparing apples to apples. We're comparing apples to oranges. And that is precisely what makes us better!

*UPDATE EX-employee responds: Rebutting Cody (Rochester) How are you helping out the consumer victims of Crimerica Cody?

*UPDATE Employee: Here's where the difference may lie...

*UPDATE Employee: Here's where the difference may lie...

*UPDATE Employee: Here's where the difference may lie...

*UPDATE EX-employee responds: Rebutting Cody (Rochester) and Robert (Modesto)

*Consumer Comment: You guys crack me up. You say the company is legit and in the sense that it is not illegal, you're right. I say that PFS has many faults and here are a few.

*UPDATE Employee: Thank God I didn't listen to the negative people on this site.

*UPDATE Employee: This has gone on long enough

*Consumer Comment: Primerica Abuse of Monster.com

*UPDATE EX-employee responds: You're a # everywhere else, but not primerica?

*UPDATE EX-employee responds: Rebutting Lindsay (Lincoln) Lindsay. How are you helping out the victims of Crimerica which is the main point to this website?

*Consumer Suggestion: Pushy people???

*Consumer Suggestion: Pushy people???

*Consumer Suggestion: Pushy people???

*Consumer Comment: Companies like Primerica hurt the credibility of job seeker websites

*UPDATE EX-employee responds: Crimerica caught with their pants down

*Consumer Comment: Questions for Jessica

*REBUTTAL Individual responds: Rebutting Reyes (San Fernando) and Donald (Boulder)

*Consumer Comment: PFS almost had me...thanks Ripoff Report

*Consumer Comment: PFS almost had me...thanks Ripoff Report

*Consumer Comment: PFS almost had me...thanks Ripoff Report

*Consumer Comment: PFS almost had me...thanks Ripoff Report

*Consumer Comment: PFS Rhetoric

*Consumer Comment: Appreciative Job Seeker

*UPDATE EX-employee responds: Responding to Gary (Morrow)

*Consumer Comment: My Experience

*Consumer Suggestion: Look, here's the whole scam in a nutshell. The only people who make money at primerica are the top executives.

*UPDATE EX-employee responds: Rebutting Brian (Brooklyn)

*Consumer Suggestion: Disturbing Pattern

*UPDATE EX-employee responds: Responding to C (Riverside) Read the Ripoff Reports on Crimerica. Learn from other's mistakes.

*Consumer Suggestion: No recruit benefits from either primerica or citi. Stay away from the scam before it costs you or someone you know big money.

*UPDATE EX-employee responds: "Check up from the neck up" part 2

*Consumer Comment: I think it is a scam and so he had his mentor come over and talk to me.

*UPDATE EX-employee responds: FURTHER DISCUSSION ON WHY PRIMERICA MAY BE DEEMED AS "FRAUDULENT", "VAGUE", AND "DECEPTIVE"

*UPDATE EX-employee responds: Responding to Kari (Brooklyn) How are you helping the victims of Crimerica

*UPDATE Employee: Listen to... my 2 Cents

*Consumer Comment: Ripoff Indeed~~ A L Williams all over again.!!!

*Consumer Suggestion: My own experience with the liers of Primerica

*UPDATE EX-employee responds: Faultering Success Rates

*UPDATE EX-employee responds: Rebutting Lee (Dillon) Even Primerica's own metamorphosis website isn't very flattering towards itself and it's documented that Primerica has had crooks working for it

*REBUTTAL Individual responds: hard to believe... watch.

*Consumer Comment: stuart...

*Consumer Suggestion: Primerica was doomed right from the start. Any business that relies on fraud and deception has a limited potential for success.

*UPDATE EX-employee responds: Answering the Danielle question - What a bunch of morons these Primerican shillers are

*Consumer Comment: The truth is self-evident

*UPDATE EX-employee responds: Rebutting Reyes (San Fernando) and Donald (Boulder)

*UPDATE EX-employee responds: Rebutting Reyes (San Fernando) and Donald (Boulder)

*UPDATE EX-employee responds: Rebutting Reyes (San Fernando) and Donald (Boulder)

*UPDATE EX-employee responds: Rebutting Reyes (San Fernando) and Donald (Boulder)

*Consumer Comment: Danielle....

*Consumer Comment: Danielle....

*REBUTTAL Owner of company: Sorry to hear all this...

*Consumer Comment: Run. Run in terror.

*Consumer Comment: Felt lucky to get out of there with my soul after declining to "join" a number of times, and refused to implicate any family or friends.

*UPDATE EX-employee responds: Responding to Richard (Chico) comment which caught my eye

*Consumer Suggestion: I'd like to say thanx all the primerica agents who come here and help to put their fraudulent company out of business

*UPDATE EX-employee responds: There is always a silver lining

*UPDATE EX-employee responds: Rebutting Mark (Seaside)

*Consumer Suggestion: Do your research

*Consumer Comment: a BIG Thanx to all

*Consumer Suggestion: Emotional Levels

*Consumer Comment: Thanx for all the posts on this company. CK & Associates and Primerica are both scams.

*UPDATE EX-employee responds: Clarifying Salvador (Broadview) ..Primerica still scams regardless of the law

*Consumer Comment: Personal experience and general remarks

*Consumer Comment: Primerica shills are just too easy

*UPDATE EX-employee responds: Rebutting Andrea (Kitchener) I'm sure Citigroup made sure that Primerica would be as crooked as them.

*Consumer Suggestion: Why does primerica always send the illiterate here to make comments? I guess that's the best the company has.

*UPDATE Employee: Facts anyone?

*Consumer Suggestion: I was called yesterday by a Primerica Rep

*Consumer Suggestion: you need to be independantly prepared to judge their products and defend yourself from the sales techniques

*UPDATE EX-employee responds: Accentuating Paul's report (from Anaheim)

*Consumer Suggestion: Who has big money to throw away on trash from primerica and citi? Nobody I know, that's for sure!

*Consumer Suggestion: Why are all of you dogging on this company tell me 1 company that has a perfect track record.

*Consumer Suggestion: The sad part is that many citi clients actually believe they are saving money.

*Consumer Comment: I would believe it if there were responses from clients.

*Consumer Comment: I would believe it if there were responses from clients.

*Consumer Comment: I would believe it if there were responses from clients.

*Consumer Comment: I would believe it if there were responses from clients.

*UPDATE EX-employee responds: Commentary on Paul from Anaheim's most recent posting - blind leading the blind

*Consumer Suggestion: An analytical dissection of primerica's lead generation and marketing strategies-unveiling the fraud and examining its implementation

*UPDATE EX-employee responds: Rebutting Mike (Hamilton) there is no hundred-grand opportunity

*Consumer Comment: Responding to Mike from Hamilton

*Consumer Comment: Responding to Mike from Hamilton

*Consumer Comment: Responding to Mike from Hamilton

*Consumer Comment: Responding to Mike from Hamilton

*UPDATE Employee: More of "Where is the harm?"

*Consumer Suggestion: This isn't recruiting. They lie to victims to suck money out of them. Primerica is an amoral, disgusting scam that helps no one but themselves.

*UPDATE Employee: 2 years and they are still talking

*UPDATE Employee: Pro-primerica

*UPDATE Employee: Attitude

*UPDATE EX-employee responds: A warning to Scott (Lake City)

*Consumer Suggestion: Glad to hear that you made a sale. I hope the whole thing works out for you. But running a primerica scam on families is not for me.

*UPDATE Employee: Just because you Failed doesnt make everybody else a failure

*Consumer Suggestion: A million people before you have joined and quit this loser company. None of them made enough money to stay, so what chance do you have, sport?

*UPDATE EX-employee responds: Rebutting Scott (Lake City)

*UPDATE Employee: Chanting Amen and Primerica a Cult

*UPDATE Employee: Chanting Amen and Primerica a Cult

*UPDATE Employee: Chanting Amen and Primerica a Cult

*UPDATE Employee: Chanting Amen and Primerica a Cult

*Consumer Comment: Response to the contradiction.

*Consumer Suggestion: My Goodness!!

*UPDATE EX-employee responds: Straightening out Keir (Atlantic City) you're contradicting yourself

*Consumer Comment: Capitalism to its fullest extent.

*Consumer Comment: Saved me the Insult

*Consumer Suggestion: I see old One Eye is still only seeing half the picture.

*UPDATE EX-employee responds: Addressing the All Seeing Oddball and Paul from Anaheim - the absurdity of Primerica

*UPDATE Employee: MLM review. Best ratings

*UPDATE Employee: You think Term insurance sucks? Then you better study your life insurance book

*UPDATE Employee: You think PFS is a scam? Read this.

*UPDATE Employee: I Hope the Objective Read My Response

*UPDATE Employee: Did you know that the CEO of Primerica is employed by Citigroup? He

*UPDATE Employee: Did you know that the CEO of Primerica is employed by Citigroup? He

*Consumer Suggestion: Where is the harm with primerica? They always ask that same question over and over again. Where is the harm?

*UPDATE Employee: Still nothing?

*UPDATE Employee: Your $199 Fee. a good company with a good mission

*UPDATE EX-employee responds: Responding to Joseph (Fresno) Suspect fled to Florida, brought back to California to stand justice for stealing money form senior citizen and family

*UPDATE EX-employee responds: Responding to Joseph (Fresno) Suspect fled to Florida, brought back to California to stand justice for stealing money form senior citizen and family

*UPDATE EX-employee responds: Responding to Joseph (Fresno) Suspect fled to Florida, brought back to California to stand justice for stealing money form senior citizen and family

*UPDATE EX-employee responds: Responding to Joseph (Fresno) Suspect fled to Florida, brought back to California to stand justice for stealing money form senior citizen and family

*UPDATE Employee: Response the good and the bad

*Consumer Comment: Too many Cult characteristics

*UPDATE EX-employee responds: Primerica realities

*Consumer Comment: correction to post = grateful for these testimonies

*Consumer Comment: Thank goodness for this site...I almost bought it, hook, line and sinker...

*UPDATE Employee: History Lessom

*UPDATE EX-employee responds: Hyprocrisy abounds with PFS

*UPDATE Employee: Like to hear from more comsumers....

*UPDATE Employee: Like to hear from more comsumers....

*UPDATE Employee: Like to hear from more comsumers....

*UPDATE Employee: Like to hear from more comsumers....

*UPDATE EX-employee responds: Primerica can work... if you're lucky.

*Consumer Suggestion: The challenge remains

*Consumer Comment: Response: Thoughts after first meeting and some research

*UPDATE Employee: I just signed on with PFS last week and so I'm not firmly entrenched in their camp.

*UPDATE EX-employee responds: responding to Doug (Laurel) not a loser because you learned

*UPDATE EX-employee responds: I was hurt by Primerica

*UPDATE Employee: How do I answer illogics

*Consumer Suggestion: Come back in 3 months and then you can tell us how well you did with your great business opportunity.

*UPDATE EX-employee responds: Rebutting Troy (Shelbyville) what are you doing to help the victimes of Primerica?

*UPDATE Employee: PRIMERICA - MOST OF YOU ARE SIMPLY IGNORANT TO THE FACTS!

*Consumer Comment: The Sales Pitch Appeals to the Good and Bad in People

*UPDATE EX-employee responds: Rebutting Paul (Brooklyn) Primerica does their business across the kitchen table

*Consumer Comment: Good points Richard, but... you are wrong about one part.

*UPDATE Employee: Primerica to me, The information they gave me was terrific. I consider myself intelligent

*Consumer Comment: Sorry, that did not answer the question.

*UPDATE Employee: In every business you will have people not doing the right thing, but does make the whole company bad.

*UPDATE Employee: To Patrick, It is called business model.

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) How can anybody rely upon your word when you're

*Consumer Comment: Question still not answered.

*Consumer Comment: What is the price for Financial Freedom?

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) the pot calling the kettle black

*Consumer Suggestion: Replies to Keith and Mike - pros and cons of being a captive agent

*Consumer Suggestion: Replies to Keith and Mike - pros and cons of being a captive agent

*Consumer Suggestion: Replies to Keith and Mike - pros and cons of being a captive agent

*Consumer Suggestion: Replies to Keith and Mike - pros and cons of being a captive agent

*Consumer Suggestion: I'm not an insurance agent for a competing company. The reason I come here is because I don't like your crooked company ripping off Americans.

*UPDATE Employee: Still arguing over semantics

*UPDATE EX-employee responds: The Primerica Challenge

*Consumer Comment: Here's another idea

*Consumer Comment: Here's another idea

*Consumer Comment: Here's another idea

*Consumer Comment: Here's another idea

*UPDATE EX-employee responds: Advice for Doesn't (DFF)

*Consumer Comment: I have had one of these guys basically STALKING me for the last month to a point that i am afraid to answer my phone...

*UPDATE EX-employee responds: Responding to Patrick (Gilbert) this site was never meant to be used in the way Primerican weasels like to use it to go trolling around on Ripoff Report. They don't address basic issues that they know are indefensible, so they hide shilling for Primerica.

*Consumer Comment: Comments for Stuart, and everyone in general. If the products and services offered by Primerica are so competative with other companies, why don't they just offer them in a traditional agent office like everyone else?

*UPDATE Employee: We are not employees of any company but captive agents.. Not being an employee is having the freedom to do what you want when you want..

*UPDATE EX-employee responds: Rebutting Paul from Brooklyn

*Consumer Suggestion: PFS in Canada is not PFS in the U.S.A.

*Consumer Suggestion: PFS in Canada is not PFS in the U.S.A.

*Consumer Suggestion: PFS in Canada is not PFS in the U.S.A.

*Consumer Suggestion: PFS in Canada is not PFS in the U.S.A.

*UPDATE EX-employee responds: What are you talking about Mike? simply pointed out facts about claims to ownership which have never been disputed or can be disputed.

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) how you're helping out Primerican victims?

*UPDATE Employee: Once again stuart... the pot calling the kettle black!

*UPDATE Employee: I'm Back! nothing has changed in the months since I stopped posting. TO ALL PRIMERICANS, stop trying to use logic, reason, and good argument against these idiots.

*Consumer Comment: Unbelievable, I've damn near made myself sick reading about this organization. What's even scarier yet, is that Primerica seems to be safely shadowed under the Citi umbrella

*UPDATE Employee: I'm Joining Primerica - my thanks to the owner of this site

*Consumer Suggestion: Something is wrong in your numbers. It's a lot harder than you suggest.

*UPDATE EX-employee responds: If a PFS rep never recruits anyone, he will never get above a 25% commission level.

*UPDATE EX-employee responds: Test Ownership, use a simple litmus test - you've invested sweat equity in what belongs to PFS Corporate, not you

*UPDATE Employee: Yes, it can be done (make a living at Primerica without recruitment)

*Consumer Suggestion: PFS is running a diamond mine. They need to search thru tons of people to get that one customer who will buy.

*UPDATE EX-employee responds: Lacy (Idaho Falls) If Primerica were to reform and be in line with your viewpoint and the way you run your operation, there'd be many more happy campers.

*UPDATE Employee: Some Primerica offices do it better!

*UPDATE Employee: Some Primerica offices do it better!

*Consumer Comment: Going to find a better way to spend my saturday!

*UPDATE EX-employee responds: Freakonomics

*UPDATE EX-employee responds: Rebutting Sam (St. Catharines, ON)

*Consumer Suggestion: For Christ's sake primerica, take advantage of this site's mediation process before it's too late. And, you too citi.

*UPDATE EX-employee responds: ..Every business has its devoted followers (i.e. employees) and Primerica is no exception.

*Consumer Suggestion: Stuart, I read that the other day. I laughed my ass off.

*Consumer Comment: narrow minded

*UPDATE EX-employee responds: Rebutting Inside/John, Some City/Georgia ..Any wonder why Primerica is having recruitment problems?

*Consumer Comment: Take a look at Succes Magazine June Issue

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) 6/21 posting - follow your handy dandy Primerica manual which says something to the effect of quoting out of context to try to reduce your adversary's credibility and create confusion.

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) 6/21 posting - follow your handy dandy Primerica manual which says something to the effect of quoting out of context to try to reduce your adversary's credibility and create confusion.

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) 6/21 posting - follow your handy dandy Primerica manual which says something to the effect of quoting out of context to try to reduce your adversary's credibility and create confusion.

*Consumer Suggestion: Reality Check - Working For Yourself

*UPDATE Employee: Stuart... your nerve continues to astound

*Consumer Suggestion: Where's The Consumer? Your post more than undescores the deceptive practices of Primerca - the dicotomy between what the customer is told and what really occurs.

*UPDATE Employee: Stuart....All I Have To Say Is.... My income is no secret I'm in the Financial Independence Council book...

*UPDATE Employee: INSIDE INFORMATION

*UPDATE EX-employee responds: Making money in Primerica

*UPDATE EX-employee responds: You're still in class Mike (Oshawa) - Here are the questions that newbie Primericans

*UPDATE EX-employee responds: 2nd Rebuttal to Mike (Oshawa) ..huge turnover since policyholders keep cancelling their policies which Primerica admits to at their website

*Consumer Comment: Been to the meetings and am seeing some flags....

*UPDATE Employee: I especially love your ongoing attempts to reduce anyone's intelligence who contradicts you, by using the ol' "Primerica play book" line.

*UPDATE Employee: Wow... it's finally my turn to say "prove it"

*UPDATE EX-employee responds: Rebutting Mike (Oshawa)

*Consumer Suggestion: Primerica is the biggest joke

*Consumer Comment: Primerica is like the Athens of Old... The company is also structured so that it makes a ton of money from it's unheard of amount of turnover.

*UPDATE Employee: I don't see the "ripped off" part

*UPDATE EX-employee responds: Your RIGHT, Primerica doesn't babysit their REPS, in fact they have no real control AT ALL

*UPDATE Employee: Am in BX NY, HOW did I prove your point? Wow, you COMPLETELY missed the message...

*UPDATE EX-employee responds: questions that newbie Primericans would and should be asking

*Consumer Comment: RESPONSE TO KEVIN ..you have done nothing but prove that my whole post was true in every fashion

*UPDATE EX-employee responds: 2nd response to Kevin (Oklahoma City) ..You ask why do I post. My answer is to help the victims of Primerica by giving guidance.

*UPDATE Employee: Am in BRONX, NY, are you sure you were talking about PRIMERICA?

*Consumer Comment: pyramid scheme - They group u like cattle, fill your head with unrealistic promises of great fortune...

*UPDATE Employee: Yes I would like to feel importance. Who wouldn't - I PROMISE each and everyone of you

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) ...the average Primerican nets out is way worse than what you would make at a McDonalds. So much for MLMs and pyramid schemes

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) ...the average Primerican nets out is way worse than what you would make at a McDonalds. So much for MLMs and pyramid schemes

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) ...the average Primerican nets out is way worse than what you would make at a McDonalds. So much for MLMs and pyramid schemes

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) ...the average Primerican nets out is way worse than what you would make at a McDonalds. So much for MLMs and pyramid schemes

*Consumer Comment: Do I really need to tell you what stats are relevant? Sure, it's better than Amway, but that's like saying that dog crap smells better than horse crap.

*UPDATE EX-employee responds: If you're currently so satisfied with Primerica, what brings you to Ripoff Report?

*UPDATE EX-employee responds: To Kevin in OK- I commend you for your Eagerness, but caution you on your Naiveness. You my friend have fallen into the same pit I crawled out of

*Consumer Comment: My take on Primerica and all MLMs. - PFS has tried to recruit myself, and other members of my family. Every time they are told to get lost, we have real JOBs.

*UPDATE Employee: My complete and honest experience with Primerica, so far...

*Consumer Comment: Primerica in Chicagoland - private police officer in Kenosha, Wisconsin, contacted by Primerica Recruiters on multiple times

*UPDATE EX-employee responds: response to trollers such as Detective John (Washinton, DC)

*UPDATE Employee: I was planning to post this long, drawn out letter to all of you but...

*UPDATE Employee: What kind of stats would be of use?

*Consumer Comment: Pyramids - you asked for it, and you're going to get it.

*Consumer Comment: so I guess all companies are a pyramid scheme

*UPDATE EX-employee responds: Rebutting John (aka Financially, City, Georgia) Your credibility has been shot to pieces. John? Are you getting bored with the Primerica meetings and just decided to troll over here to do your shilling.

*Consumer Comment: Let's talk specifics

*Consumer Comment: my investigation on Primerica

*UPDATE EX-employee responds: Rebutting Mike (Oshawa) ..How are you helping the victims of Primerica

*UPDATE Employee: I'll see you in Georgia, Bob. We're also very excited about heading to the Dome... some neat new stuff coming. Next trip... Hawaii.

*Consumer Suggestion: Good for consumers but bad for potential primerica employees

*UPDATE EX-employee responds: Rebutting Bob (Yardley) - Round 2 - - Primerica is known for duping people to join up to get at their warm markets while the newbies literally get raped financially by Primerica who do not get back what they give to Primerica.

*Consumer Comment: Put up or shut up! you're not really helping people so much as you're just selling them a product.

*UPDATE Employee: 110,000 Representatives and growing to be exact....

*UPDATE EX-employee responds: Rebuttal to Bob (Yardley) - Documentation to Ripoff Report is what we need, not vague statements that you put out

*UPDATE Employee: Primerica has allowed me to be me and make three (3) times the money I made working for somebody else.

*Consumer Comment: I Completely Agree with the unusual behavior!

*Consumer Comment: Some suggestions that will never be implemented

*UPDATE Employee: BE WISE IN YOUR ACTIONS - enjoyed lot of the comments. Great web site.

*UPDATE Employee: BE WISE IN YOUR ACTIONS - enjoyed lot of the comments. Great web site.

*UPDATE Employee: BE WISE IN YOUR ACTIONS - enjoyed lot of the comments. Great web site.

*UPDATE EX-employee responds: Similarities between Primerica and the Holocaust (adding to Timothy from Valparaiso)

*UPDATE Employee: Altruismn is a by-product of this opportunity - designed to be profitable, a money-maker, nothing else.

*Consumer Comment: I don't buy the altrusitic justification for mass recruiting

*UPDATE Employee: You make good points, Timothy

*Consumer Comment: Ellie, thanx for the honest and up front assessment of your company.

*Consumer Suggestion: Choose your battles = a lot of bad people involved in the company. They make it a lot harder for people who are out there trying to offer better solutions for families

*UPDATE Employee: Imagine! It's easy if you try! The MLM "feel" does present quite a dilemma for those of us who are honestly trying to build in Primerica and we shouldn't white wash the fact that it exists.

*UPDATE EX-employee responds: Daniel from Canada - The more questions I asked the up line the more I got told to go out and recruit and the money will come.

*UPDATE Employee: Certain issues need to be clarified

*UPDATE EX-employee responds: to Mike from Canada, I really don't believe that a person who claims to have spent over 100K on his education would give that up to be apart of a pyramid scheme company

*UPDATE EX-employee responds: to Mike from Canada, I really don't believe that a person who claims to have spent over 100K on his education would give that up to be apart of a pyramid scheme company

*UPDATE EX-employee responds: to Mike from Canada, I really don't believe that a person who claims to have spent over 100K on his education would give that up to be apart of a pyramid scheme company

*UPDATE EX-employee responds: to Mike from Canada, I really don't believe that a person who claims to have spent over 100K on his education would give that up to be apart of a pyramid scheme company

*UPDATE Employee: Fair enough

*UPDATE EX-employee responds: Right there in the open? It is now. ...$4 million just for people changing their minds, what a company?

*UPDATE Employee: All anecdotal?

*UPDATE EX-employee responds: Way to go Frank, keep it up. You like your colleague above just read from the same playbook. You ignore and write off all the experience on this site.

*Consumer Suggestion: Where do you idiots see any money? Can you point it out to me, because all I've been reading about are people who lost their asses?

*Consumer Suggestion: HIGH PRICED "HELP" BY PRIMERICA

*UPDATE EX-employee responds: Rebutting Frank (SanDiego) - it's only the fat cats that are benefitting, certainly not the frontline agents..

*Consumer Comment: Im not successful. If this opportunity is great for you, thats nice. But, you obviously think you are better.

*UPDATE Employee: Primerica IS for everyone... no exceptions

*REBUTTAL Owner of company: For all the negative people in the Rip-Off Site

*UPDATE EX-employee responds: Scam! PFS is a scam, a lie, and nothing more then a giant pat on the back of someone who reeps the benefit of your hard work.

*Consumer Suggestion: If you are even THINKING about getting involved with Primerica, take a few hours to first read all the complaints here.

*Consumer Suggestion: Some more information - you have a lot of valid points, based on the prior negative experiences.

*Consumer Suggestion: Not sure, you say? Well, then take the job and buy the financial products. See how it all works out.

*Consumer Suggestion: Not sure what to think

*Consumer Suggestion: Can't find the ripoff? It's easy to see. Just look for the complaint that starts with primerica offered me a position as an office manager.

*Consumer Suggestion: Can't find the ripoff? It's easy to see. Just look for the complaint that starts with primerica offered me a position as an office manager.

*Consumer Suggestion: Can't find the ripoff? It's easy to see. Just look for the complaint that starts with primerica offered me a position as an office manager.

*Consumer Suggestion: Can't find the ripoff? It's easy to see. Just look for the complaint that starts with primerica offered me a position as an office manager.

*UPDATE Employee: how could it be a "rip off"?

*Consumer Suggestion: All primerica expects is a few sales from your family and friends. Once you do that, they're done with you.

*UPDATE EX-employee responds: You wouldn't know common sense if it knocked you upside the head.

*UPDATE EX-employee responds: COMMON SENSE

*UPDATE EX-employee responds: Response to Brandon generally what primerica does is good for most people

*Consumer Comment: All the catch phrases, from "opening a new branch in your area" to "better than your current position" popped up in just my first two phone conversations.

*Consumer Comment: Buy Term and invest the difference response

*Consumer Comment: Not giving the whole picture, David

*UPDATE Employee: To Fraud Chick I wish somebody on this site would say how they got hurt.

*UPDATE EX-employee responds: long term not monthly acerages - the PFS one size fits all philosophy is short sighted and incomplete.

*UPDATE Employee: I agree that if 12% was used as a reasonable interest rate for mutual funds, this is incorrect and should be addressed (filing a complaint with Primerica's Office of General Counsel should put an end to that..

*Consumer Comment: Primerica Agents Education and Training

*UPDATE EX-employee responds: Here's the fraud

*UPDATE Employee: Still, Specifics - maybe they don't have the best deal in town. that doesn't constitute fraud.

*UPDATE EX-employee responds: No Wrong Doings By Primerica... Don't Make Me Laugh

*UPDATE Employee: So far, in all my prying, I have not seen any major wrong doing on the part of Primerica.

*UPDATE EX-employee responds: Now we are on the right track

*Consumer Suggestion: Valid Concerns, However...

*UPDATE EX-employee responds: Flaws With Business Model

*UPDATE Employee: If you don't evolve you die

*UPDATE Employee: this is the last post. ..You will try to debate everthing I say, in turn making this a neverending battle.

*UPDATE EX-employee responds: Getting to the nitty gritty with Drew F.

*UPDATE Employee: Revolt from within

*Consumer Comment: IS PRIMERICA SO GREAT?, THEN WHY SO MUCH CONTROVERSY?

*UPDATE Employee: responding to Stuart - North Brunswick, New Jersey - Fruad? That I have no clue about. If there are people commiting fruad then get proof

*UPDATE EX-employee responds: Rebutting Drew F. Is Primerica looking for part-time agents or, ultimately, full-time? Ripoff Report is primarily designed to help those who have been victimized by companies.

*Consumer Comment: Thanks to all of you, for and against Primerica.... I was fooled long enough to offer three references, all of whom I've contacted to apologize in advance for any future contact by PFS.

*UPDATE Employee: our goal is still, "To help families become debt free and financially independent

*UPDATE EX-employee responds: Primerica hacks always doing what's in the best interest of the client

*UPDATE Employee: Primerica - - A Company Who Has Lost Its' Way

*UPDATE EX-employee responds: Rebutting Derek (Orangeville) Ripoff Report is primarily designed to help those who have been victimized by companies. Aside from Primericans coming around to tout the company

*UPDATE EX-employee responds: Rebutting Derek (Orangeville) Ripoff Report is primarily designed to help those who have been victimized by companies. Aside from Primericans coming around to tout the company

*UPDATE EX-employee responds: Rebutting Derek (Orangeville) Ripoff Report is primarily designed to help those who have been victimized by companies. Aside from Primericans coming around to tout the company

*UPDATE EX-employee responds: Rebutting Derek (Orangeville) Ripoff Report is primarily designed to help those who have been victimized by companies. Aside from Primericans coming around to tout the company

*Consumer Comment: For prospective Salespeople of Primerica... Not a cult...

*UPDATE Employee: Just stating my thoughts

*UPDATE EX-employee responds: Hi Drew, That was a very heart felt post. working for a company that limits your ability to do what is best for your clients

*Consumer Comment: $199

*Consumer Comment: "Warm fuzzies" are not enough. Get facts.

*UPDATE EX-employee responds: Responding to Drew (Arcadia) my biggest question Drew is what has Primerica

*UPDATE Employee: Please do not dismiss this. I want to apologize...

*Consumer Comment: They're still up to their old tricks!

*Consumer Comment: Neighbor's Experience

*Consumer Comment: Looking to save a potential client from Primerica Refi

*UPDATE EX-employee responds: Rebutting Paul from Brooklyn - As far as trying the so-called Primerica opportunity, does one have to try jumping off a cliff to know what will happen next?

*UPDATE Employee: Lauren, Thank you for breath of fresh air.

*UPDATE EX-employee responds: Here we go again steve

*UPDATE Employee: Recently got invloved with Primerica and pleased so far

*UPDATE Employee: Misquoted again

*UPDATE EX-employee responds: SMART Loan "Services" ..I was suckered into refinancing my mortgage into a SMART loan last year.

*Consumer Comment: Paul Canton: Absolutely WRONG!!! misleading to imply that insurance money is tax free as I see so often

*UPDATE EX-employee responds: Steve you have the typical "everyone else but PFS is wrong " attitude.

*Consumer Comment: Same song, next verse. Primerica is actually the old A L Williams company, which spent a lot of time in litigation regarding business practices (recruiting as a market plan, etc).

*UPDATE Employee: What is different is how dissimilar businesses recruit.

*UPDATE Employee: Helpful? The part that I'm lery about is the whole recruiting thing.

*UPDATE EX-employee responds: Rebutting Steve (N. Canton) ..I want someone who knows what they're doing, not that clown, Paul from Brooklyn nor his clone, Paul from Cape Coral.

*UPDATE Employee: Stuart, you drive me nuts. By law, we are classifed as agents.

*UPDATE EX-employee responds: Rebutting Steve (N. Canton) ..I quoted directly from Primerica's website

*UPDATE Employee: You get what you pay for

*UPDATE Employee: Educated Part-timer w/ Primerica Needs to Comment

*UPDATE EX-employee responds: PFS "plan" is not a plan. If you don't believe me, look at the front page of the FNA.

*UPDATE Employee: If you are a business with a report(s) filed against you, you have a chance to make it right.

*UPDATE EX-employee responds: Responding to Paul (and Paul) putting your foot in your mouth

*UPDATE Employee: We have highlighted one of the most misunderstood aspects of Primerica which causes a large number of these postings

*Consumer Suggestion: Law makers must get involved

*UPDATE Employee: No one in Primerica offers anyone a job.

*Consumer Comment: Job INterview With Primerica

*UPDATE Employee: Don't judge by what you read. Judge by giving the company a try.

*UPDATE EX-employee responds: I WAS SO CLOSE TO BEING SCAMMED, got home and did a search for Primerica and I found this site. If they were a good reputable company they say who and what they're about ...they'd be up front right from the start

*Consumer Comment: Greetings from a UW-Whitewater graduate ..put my resume on Monster.com, after being downsized from my former place of employment. A few weeks later I received a phone call from a Primerica

*Consumer Comment: I was contacted by Primerica. Based on the information I collected here, I will certainly not attend the interview.

*Consumer Comment: Personal Experience with Misleading Practices

*Consumer Comment: INTERESTING

*Consumer Comment: a relative will ruin or put a relative relationship in jeapardy to recruit or sell a product

*Consumer Suggestion: Deceived but almost scammed

*Consumer Comment: Liars

*Consumer Suggestion: They will never admit that they are dishonest, misdleading and stretching the truth about their products.

*Consumer Suggestion: I sounded the alarm on this company nearly 20 years ago

*Consumer Suggestion: HOW ARE YOU HELPING PEOPLE BY TAKING MONEY FROM THEM

*Consumer Suggestion: Here is how to tell them that you do not want to work for them

*UPDATE EX-employee responds: Okay now Primerica shill Manuel, listen up. (West New York)

*UPDATE EX-employee responds: Free Profile

*UPDATE EX-employee responds: To Paul from NY - You're out of your' mind AND so is anyone else who's been in Primerica long enough to know what really goes on.

*UPDATE Employee: Choices

*UPDATE EX-employee responds: Now we have two Primerica shills I need to respond to. Lori the Liar from LA and Paul from Brooklyn

*Consumer Comment: I resent that!

*UPDATE Employee: This is in support of Lori against an attack by Stuart

*Consumer Comment: Who Are You Kidding? I was coerced into coming to one of these moronic Primerica meetings and I just laughed my head off.

*UPDATE Employee: Hey Stuart In New Brunswick - Let's Not Get Personal Here

*UPDATE EX-employee responds: Rebuttal to Lori (Los Angeles)

*Consumer Comment: I also received a call from Primerica

*UPDATE EX-employee responds: PFS Income claims wrong

*UPDATE Employee: Don't Judge All Primerica Rep's by a few Bad People

*Consumer Suggestion: MLMs often misrepresent business opportunites as legitimate jobs.

*Consumer Suggestion: My Brother Was Tricked A Little Over A Year Ago

*Consumer Comment: I found the speaker very patronising and eventually left feeling quite offended ...

*UPDATE EX-employee responds: Response to Jennifer (Bellflower)

*Consumer Comment: Serious Question, just a junior college student who is only 23, but it seems that I am only hearing about business opportunities and-or employment offers

*UPDATE EX-employee responds: One of the biggest problems I had with Primerica's product is that they tell you that your interest rate doesn't matter.

*UPDATE EX-employee responds: I WAISTED two years of my life

*REBUTTAL Individual responds: do a search for Russ Whitney, you'll find the same way to scam people

*Consumer Suggestion: I was lied to about a Mortgage job from this company

*Consumer Comment: to me it felt like either speaker is a real bastard or the story was just all hype.. here he is talking about his mother crippled and his father struggling with no compassion

*Consumer Comment: Almost went for the second interview... grateful for this website

*Consumer Comment: Lance seems confused. What did they do for you other than give you the 14 page report and tell you to pay on the principle?

*UPDATE EX-employee responds: Just Facts,, It scares me how much Primerica is able to brain wash other wise itelligent people. Primerica recruits between 10-20,000 reps per month.

*UPDATE EX-employee responds: Lance is very good at spinning tales. ..Primerica is still the biggest

*UPDATE Employee: What a shame

*Consumer Comment: Add me to the list of recruited.

*Consumer Comment: WELCOME TO AMERICA, everyone is trying to scam, and make you promises. People words are as useful as a 250 dollar bill.....Find out on your own!!!!!!

*Consumer Suggestion: Why does Primerica try to recruit HEREW? RipOffReport.com, helping the economy that our Govt screwed up...

*Consumer Comment: Primerica's "20 minute" presentation!!!!

*UPDATE EX-employee responds: Please don't give- in your hard worked $200. you'll never see them back!i am a single mother in south central, la-another victim-this is not right!

*UPDATE EX-employee responds: Rebutting Justus, Trying to equate Primerica with other respectable companies won't work

*UPDATE EX-employee responds: Rebuttal to Adam (Thomasville) Primerica is still the pyramid-schemed company as it always was benefitting the fat cats at the top of the pyramid.

*REBUTTAL Individual responds: Danielle, Like every company Primerica has its good and bad

*UPDATE Employee: What primerica is... You wont understand until you go to a meeting

*UPDATE EX-employee responds: Response to Danielle

*Consumer Suggestion: Confusion about what Primerica really is

*Consumer Comment: Hypocrisy Indeed

*Consumer Suggestion: Ex-Employees: Getting your money back

*Consumer Comment: Hypocrites- SPEAKING OUT BOTH SIDES OF MOUTH

*UPDATE EX-employee responds: PFS is shady and cultish

*Consumer Suggestion: Understanding Primerica

*Consumer Comment: To the Ed of this site, an honest opinion. Makes you think. I just don't think it's for me.

*UPDATE EX-employee responds: My personal experience with Primerica--Cult-like group

*Consumer Comment: RESPONSE TO: Chris - Jersey City, New Jersey

*UPDATE EX-employee responds: PRIMERICA A PYRAMID. JUST SELL SELL SELL BRING BRING BRING HIRE HIRE HIRE

*UPDATE EX-employee responds: Eric the Brainwashed and proud of it

*Consumer Comment: The TRUTH about Primerica, Eric? No, you don't have to go to school to get these licenses. You can get them with a no-cost self-study sponsorship from a broker.

*UPDATE EX-employee responds: Eric Costa Mesa if it walks like a duck and talks like a duck. ..well you know the saying.

*UPDATE EX-employee responds: The truth about Primerica.

*UPDATE EX-employee responds: The service is for real

*UPDATE EX-employee responds: The service is for real

*UPDATE EX-employee responds: The service is for real

*UPDATE EX-employee responds: Responding to Wendy "Not defending all MLMs" ..challenge I'm making is to Primerica in general. Put your money where your mouth is.

*Consumer Comment: 'Not defending all MLMs' is wise, Wendy

*Consumer Comment: Not defending all MLMs

*Consumer Comment: Btu What really does it for me is the class of the R VP.

*Consumer Comment: PFS reference... World Marketing Alliance (WMA)

*Consumer Comment: Wendy: On behalf of the "real world", Welcome

*UPDATE EX-employee responds: Rebutting Wendy (Tecumseh) and responding to Dayton

*Consumer Comment: Stuart, welcome to the real world

*Consumer Comment: Out $199, despite my HUGE protests, got involved in Primerica on the advice of a friend

*Consumer Comment: Out $199, despite my HUGE protests, got involved in Primerica on the advice of a friend

*Consumer Comment: Out $199, despite my HUGE protests, got involved in Primerica on the advice of a friend

*Consumer Comment: Out $199, despite my HUGE protests, got involved in Primerica on the advice of a friend

*Consumer Suggestion: I also got contacted by Primerica.

*UPDATE Employee: Response to Stuart

*UPDATE EX-employee responds: Re; Response to Dayton

*UPDATE EX-employee responds: Response to Dayton

*UPDATE EX-employee responds: Coming To Tampa? Don't mean to burst any bubbles, but the big P has been in tampa for about 10 years.

*UPDATE EX-employee responds: Coming To Tampa? Don't mean to burst any bubbles, but the big P has been in tampa for about 10 years.

*UPDATE EX-employee responds: Coming To Tampa? Don't mean to burst any bubbles, but the big P has been in tampa for about 10 years.

*UPDATE EX-employee responds: Coming To Tampa? Don't mean to burst any bubbles, but the big P has been in tampa for about 10 years.

*Consumer Comment: Thx for saving me time!

*Consumer Comment: Thx for saving me time!

*Consumer Comment: Thx for saving me time!

*Consumer Comment: Thx for saving me time!

*Consumer Comment: Coming soon to the Tampa Bay Market!!! Beware!

*Consumer Suggestion: i want the time i spent back in my life

*UPDATE Employee: Something To Think Of

*UPDATE EX-employee responds: Don, You are once again WRONG!

*UPDATE EX-employee responds: Response to some of Stuart's responses

*UPDATE EX-employee responds: Rebutting Don, Primerica is a slave company with no opportunity

*UPDATE EX-employee responds: Buyer Beware! Don't be taken by hype and excitement.

*Consumer Comment: Primerica IS Al Williams. ..to set the record straight you are not financial analysts. You are salepeople.

*UPDATE EX-employee responds: Blatant Lies of Phillip

*Consumer Comment: Primerica equals Freedom

*Consumer Comment: Primerica equals Freedom

*Consumer Comment: Primerica equals Freedom

*Consumer Comment: Primerica equals Freedom

*UPDATE EX-employee responds: Response to Genelle, Keep in mind that Primerica sells a piece of garbage which barely makes it legal to stay in business as defined under the law.

*Consumer Comment: how do you suppose they do this legally? How are they in the Dow Jones 30?

*UPDATE EX-employee responds: Rebuttal to Eric (Irvine)

*Consumer Comment: Please Read Take a look at your intentions if you want to get rich quick you will fail

*REBUTTAL Owner of company: PRIMERICA GOES WAY BEYOND OVER PRICED!

*Consumer Comment: recruited my son said that it reminded him of a cult

*UPDATE EX-employee responds: The big picture (response to Mike from Chino and his kind)

*Consumer Comment: Mike in Chino, you still haven't gotten past the MLM mindset.

*Consumer Comment: Many analogies and opinions

*Consumer Comment: For people like Dan , hope I can save other people the crow that Dan will eat when he finds out he could have done the same thing with better results at just about any lender

*UPDATE Employee: I believe I am a victim of Primerica ..brought in my friends to be recruited, I felt like the presenters were pressuring my friends into the program

*Consumer Comment: Here are my suggestions

*Consumer Comment: Ruth from Washington - Where the Hell Did You Come From? You probably work for Primerica, and you're upset because I'm exposing the truth about this crappy company.

*UPDATE Employee: Open to Advice; Not receptive to Name Calling

*Consumer Suggestion: Dan Bartlett IL is totally ignorant

*Consumer Comment: Dan!

*Consumer Comment: Let's see your numbers, I will even help you with TVM if you need it.

*Consumer Comment: Ruth from Bedford, OH sounds high on cocaine...

*Consumer Comment: HOW PRIMERICA EXPLOITS PEOPLE! ..happy to debate any of you Primerica hotshots that want to take me on!

*Consumer Comment: COMMONLY USED FALSE, MISLEADING, AND DECEPTIVE BUSINESS PRACTICE INDUCEMENTS ORCHESTRATED TO CONSUMERS BY THE PRIMERICA SALES DIVISION

*UPDATE Employee: Call it "Ball Park" Math

*UPDATE Employee: Call it "Ball Park" Math

*UPDATE Employee: Call it "Ball Park" Math

*UPDATE Employee: Call it "Ball Park" Math

*Consumer Comment: Dan doesn't understand math, doubt that Primerica is the reason you saved interest on your mortgage

*Consumer Comment: Dan doesn't understand math, doubt that Primerica is the reason you saved interest on your mortgage

*Consumer Comment: Dan doesn't understand math, doubt that Primerica is the reason you saved interest on your mortgage

*Consumer Comment: Dan doesn't understand math, doubt that Primerica is the reason you saved interest on your mortgage

*Consumer Comment: Dan, Dan, Dan!

*UPDATE Employee: Solid, Productive Response to Criticism

*Consumer Comment: Sheep? - Who Are the Sheep? - ???

*Consumer Comment: sheep?

*Consumer Comment: One of the representitives tried targeting me in church!

*Consumer Comment: Thanks to this site I have decided to not even get involved in this scam

*Consumer Comment: this place is what the majority of people here say it is

*Consumer Comment: this place is what the majority of people here say it is

*Consumer Comment: this place is what the majority of people here say it is

*Consumer Comment: this place is what the majority of people here say it is

*Consumer Comment: I wasn't declined, read my report MD Clergy

*Consumer Comment: I wasn't declined, read my report MD Clergy

*Consumer Comment: I wasn't declined, read my report MD Clergy

*Consumer Comment: I wasn't declined, read my report MD Clergy

*Consumer Suggestion: HomeTown Clergy Declined

*Consumer Suggestion: Stuart - North Brunswick, New Jersey's Unawareness about the world around him

*UPDATE EX-employee responds: To Recruit or not to Recruit.?

*UPDATE EX-employee responds: The true problem

*UPDATE EX-employee responds: Wendy from Kansas is full of hot air

*Consumer Comment: Can someone define the Christian Principles?

*Consumer Comment: Can someone define the Christian Principles?

*Consumer Comment: Can someone define the Christian Principles?

*Consumer Comment: Can someone define the Christian Principles?

*UPDATE Employee: Reponse to "My Experience"

*Consumer Comment: Still working at local burger joint

*Consumer Comment: Still working at local burger joint

*Consumer Comment: Still working at local burger joint

*Consumer Comment: Sort it out for yourself.

*UPDATE EX-employee responds: My Primerica Experience

*UPDATE Employee: An attempt at a "Balanced Insider Response"

*Consumer Comment: Primerica Follow Up Call ... They Won't Give Up.

*Consumer Comment: 'By Consumers For Consumers' is Correct, Lee in Boyce, TX.

*Consumer Comment: You Say By Consumers For Consumers.

*Consumer Comment: If Primerica has the heart (and the balls) to help with compassion, I might think differently

*REBUTTAL Individual responds: HELP ME GO TO SCHOOL

*Consumer Comment: And if you bought a policy

*Consumer Comment: Thanks ffor the Warnings and Flags!

*Consumer Comment: One posssible way they get your resume... Monster.com /scams online?

*UPDATE EX-employee responds: Refund of $199 in Wisconsin

*UPDATE EX-employee responds: Refund of $199 in Wisconsin

*UPDATE EX-employee responds: Refund of $199 in Wisconsin

*UPDATE EX-employee responds: Refund of $199 in Wisconsin

*REBUTTAL Individual responds: Is this a fraud? What can I do to get my full $199 refund?

*Consumer Comment: Good and Bad in Everything - The Human Nature Factor

*UPDATE Employee: No Acknowledgment ?? ..Primerica isn't going anywhere, GET OVER IT....take a look at other company's...

*Consumer Suggestion: RipOff Report saved me, thank you!

*Consumer Suggestion: RipOff Report saved me, thank you!

*Consumer Suggestion: RipOff Report saved me, thank you!

*REBUTTAL Individual responds: Primerica - Monster.com scam

*Consumer Comment: The owners of primerica seem to be very defensive

*Consumer Comment: Primerica is a terrible company

*Consumer Comment: Thank you everyone...Almost made a HUGE mistake

*Consumer Comment: Nieghbor Almost Sucked In, PFS was definitely not the place

*UPDATE Employee: The Good, The Bad, & The Ugly

*Consumer Comment: They Helped My Parents Already in Retirement

*UPDATE EX-employee responds: The lowdown on PFS, company in itself isn't a scam, it's the agents within the organization that makes it that way.

*UPDATE Employee: Employee of parent company Citigroup

*Consumer Comment: A suggestion for those contacted by PFS

*Consumer Comment: My Experience

*UPDATE EX-employee responds: Stop before you get started with Primerica ..not an interview, but rather an orientation of propaganda

*UPDATE EX-employee responds: Primerica is STILL a ripoff 15 years later!

*Consumer Comment: Your information will be wrong

*Consumer Comment: Happened to stumble on these postings, and did a little research; this appears to be a scam

*UPDATE Employee: Primerica Rips Consumers and Reps

*Consumer Suggestion: Well Acquainted ..The basis of this business is multi-level marketing

*Consumer Suggestion: To All Cry Babies

*Consumer Suggestion: Scams Here, Scams There

*Consumer Comment: A Scam or Just a Different Way of Doing Business?

*UPDATE EX-employee responds: primerica is a rip off..

*UPDATE Employee: LIVE AND LEARN

*UPDATE Employee: LIVE AND LEARN

*UPDATE Employee: LIVE AND LEARN

*UPDATE Employee: LIVE AND LEARN

*Consumer Comment: Thanks for the reports!!

*Consumer Comment: Thanks for the reports!!

*Consumer Comment: Thanks for the reports!!

*Consumer Comment: Thanks for the reports!!

*Consumer Comment: Bunch of ripoff artists!!

*Consumer Comment: Pumping America

*UPDATE EX-employee responds: Primerica from the inside: what it's really like

*UPDATE EX-employee responds: Primerica from the inside: what it's really like

*Consumer Comment: Doesn't a cold call for an interview set off a red flag? ..thankful for web sites such as this

*Consumer Comment: References list?

*Consumer Suggestion: Primerica is a joke

*Consumer Comment: My in depth experience with Primerica as an "almost" employee

*Consumer Comment: MY experience with Primerica--Hard work, few successes, ..the truth of the matter is that you basically would have to turn into a major harasser to your family and friends in order to recruit enough people for you even to make any type of money.

*UPDATE EX-employee responds: Primerica: Misleading, lies, the employee experience, and the Primerica convention

*Consumer Comment: Check All Sources of Information and then Make Your Decision!

*Consumer Comment: Check All Sources of Information and then Make Your Decision!

*Consumer Comment: Check All Sources of Information and then Make Your Decision!

*Consumer Comment: Check All Sources of Information and then Make Your Decision!

*Consumer Comment: Primerica doesn't require an investment in its product by the new recruits, and thus avoids liability as a pyramid scheme.

*Consumer Comment: Primerica products are NOT priced competitively.

*UPDATE EX-employee responds: !!The Real Scoop!! on Jobs, and the Primerica Concept

*UPDATE EX-employee responds: Not a Pyramid? What else do you call it?

*UPDATE Employee: Primerica Answers ..I would like to apologize for any of our representatives that have given any of you false or misleading information about Primerica Financial Services.

*Consumer Suggestion: Does this at all really matter

*UPDATE EX-employee responds: Beware of Primerica, I was recruited by a close family friend who had been recently brain-washed by the Primerica format for such.

*Consumer Comment: Desperate Recruiting at College Career Fair

*UPDATE EX-employee responds: Think what you will

*Consumer Comment: Wrong ..ridiculous, subversive loan tactics used by the company

*Consumer Suggestion: Primerica- a balanced view

*Consumer Comment: same bs interview

*REBUTTAL Individual responds: Primerica-a few simple points

*Consumer Comment: I too heard the amens

*Consumer Comment: The Original Writer of this report is 100% right!!!!! Way to go!!!

*Consumer Comment: Primerica is a SCAM No matter what anyone says

*Consumer Comment: If it sounds to good to be true, it probably is

*Consumer Comment: Disgusting tactics to recruit myself, family, and friends

*Consumer Comment: DJ I hope that you are proud

*UPDATE Employee: Look before you leap into Pittsburg!

*UPDATE Employee: Complaints vs Compliments

*UPDATE Employee: Jealousy, Jealousy, Jealousy

*Consumer Comment: THIS DAMON SALESMAN IS THE DIRTIEST

*0: EDitor's Comment to the Above Mindless Rant:

*UPDATE Employee: poor Lonnie ...More drivel below

*Consumer Comment: primerica - they own YOU

*Consumer Comment: God and my money

*Consumer Comment: preaching your faith

*Consumer Suggestion: Primerica is NOT For everyone.......

*Consumer Comment: Primerica: The Good, the Bad, and the Ugly

*UPDATE EX-employee responds: My PFS experience

*Consumer Comment: primerica is a mlm scam and the people that are involved with them are brain washed and to stupid to relieze this

*REBUTTAL Individual responds: Meeting set up Tomorrow - Not After reading Reports

*UPDATE Employee: Good Points and Not so Good Points of Primerica

*Consumer Comment: Work on your HR skills, please

*Consumer Comment: I was contacted as well....

*Consumer Comment: I had an ironically similar interview as the original complaint.

*Consumer Comment: I had an ironically similar interview as the original complaint.

*Consumer Comment: I had an ironically similar interview as the original complaint.

*REBUTTAL Owner of company: Primerica's true value *EDitor's Comment. Owner of what? .. more drivel

*Consumer Comment: The root cause of all evil at Primerica

*Consumer Comment: Recently contacted ..I would like to thank the person who started this site

*0: Another problem i have with primerica is that citigroup, its parent is chiefly recognised as a bank, or financial institution.

*0: I will site all lawsuits in my major report for all of you naysayers.

*0: I just received the same recruiting call.

*0: ..your ridiculous McDonalds analogy

*0: DOESN'T MCDONALDS FOCUS ON HIRING A TEAM AND MARKETING

*0: Obviously, you weren't having any luck with anything else

*0: Response to College Education, Take a look, and Racism

*0: No Ripoff Report posted has accused Primerica of racism.

*0: TAKE A LOOK AT WHAT THE COMPANY THAT YOU WORK FOR DOES?

*0: TAKE A LOOK AT WHAT THE COMPANY THAT YOU WORK FOR DOES?

*0: ..because you have a college education that your better then me?

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SPECIAL UPDATE: November 23 2012: Primerica remains committed to increased customer satisfaction and has improved their business practices over the years to better serve their customers. Primerica is truly dedicated to making sure their customers are satisfied and that any complaints which do arise are addressed promptly and fairly.

To date, Primerica has made good faith efforts to resolve all complaints reported on Ripoff Report. Based on our experience, the member business has proven to be among the top members of the Ripoff Report Corporate Advocacy Business Remediation and Customer Satisfaction Program as a Verified Safe Business.

Over time and since becoming a member, Primerica has remained actively engaged and improving the way they address customer service complaints. As an active and current member of the Ripoff Report Corporate Advocacy Business Remediation and Customer Satisfaction Program we are happy to report that now more than ever Primerica remains committed to improving customer satisfaction.

Remember, no company or individual can ever satisfy 100% of the people 100% of the time. There are no products or services that will always be perfect for everyone and even the best companies will receive complaints from time to time. However, by participating in the Corporate Advocacy Program, the member business has made a commitment to working with its customers to resolve complaints quickly and fairly whenever possible.

Please keep in mind that as a consumer you have some responsibilities as well. Success has many definitions that based on your past experiences, current situation and your perceived expectations. Success with any product or service is always based on the proper application and understanding. The fastest car will not run if you never turn the engine on. Look at how you used the product or service that was provided in relation with the instructions that you received. The Corporate Advocacy Business Remediation and Customer Satisfaction Program will help you get your voice heard but please be prepared with documentation and fair representation of your concern, also have an idea of how the company can fix your concern. Can they offer additional services, extend warranties, offer a fair refund or just get you talking with someone that can help. ..let them know and let us know!

*Any consumer not receiving satisfaction from a member of the Corporate Advocacy Program should email us at editor@ripoffreport.com
 Primerica is Rip-off Report Verified

Rip-Off Report Investigative Progress Report on Primerica Financial Services 10-16-08

*UPDATE: Rip-off Report re-evaluated Primerica Financial Services and finds that the company continues to offer a business opportunity that is well worth considering. Thru our experience with Primerica, we continue to find that they maintain a high level of commitment to treating consumers fairly and in most cases they have gone way beyond the call of good customer service. Since Primerica became a member of the Corporate Advocacy Business Remediation & Customer Satisfaction Program almost 2 years ago, Rip-off Report has continued to monitor Primerica and work closely with home office executives to resolve consumer and agent inquiries and concerns. Rip-off Report is pleased to report that Primerica continues to show outstanding commitment and dedication to respond and resolve issues promptly, many times going over and above the expectations of consumers and this website. To our knowledge Primerica has responded to all legitimate inquiries we have forwarded to them, and to inquiries the company has received directly. We at Rip-off Report believe that Primerica is a solid, reliable company that stands behind their agents and its products. If you think that becoming a Primerica representative or buying a Primerica product is right for you, we would urge you to give the company careful consideration.

=====================
NOW TO THE ORIGINAL REPORT THAT WAS FILED
=====================

PRIMERICA INVESTIGATED
EDitor's Comment: Rip-off Report Investigation: Primerica gets a POSITIVE RATING in customer support from Rip-off Report and is fulfilling its commitment to provide excellent customer service. Primerica pledges to resolve complaints and address representative issues. For a long time this EDitor had concerns about Primerica because of the number of Reports about them. For many months Rip-off Report was looking into the company, even before they contacted us to resolve any issues and mostly misunderstandings being posted by competitors. With over 100,000 representatives and 6 million clients, Primerica is bound to be the subject of a certain number of complaints about improper agent conduct, as well as product and administrative complaints.

Rip-Off's investigation found such complaints, but importantly also found that Primerica is committed to resolving such complaints quickly and doing everything possible to satisfy its clients. It also takes appropriate action against any of its representatives who are found to have conducted themselves improperly or unethically. We believe that the number of complaints against this company, whether through the Internet or other channels, is small when put into the context of its enormous size. Most big companies would never commit themselves like Primerica has. Read our investigative Report and Primerica's commitment to 100% consumer satisfaction.


www.primerica.com provides products and services through independent representatives. Primerica www.primerica.com has more than 100,000 licensed representatives who serve more than 6 million clients in the U.S., Canada, Puerto Rico, Spain and the United Kingdom. Through a Financial Needs Analysis www.primericafna.com, the company's representatives provide a snapshot of a family's financial picture and suggest a strategy for financial security via Primerica's products and services www.primericafinancialsolutions.com. Primerica's business opportunity is attractive to people from many different backgrounds, including women www.womeninprimerica.com, African-Americans www.primericaaalc.com, Hispanics www.primericalatino.com and young adults www.generationprimerica.com.


I recently received a call from a recruiter representing Primerica. However, my caller ID indicated it was Larry's computers.

Further inquiry revealed he was calling from another business line. When asked where he obtained my resume, it was a legitimate site.

I set up an interview, 45 minutes of my time is worth gathering information. The interview had nothing to do with my skills as an Instructional Designer, Consultant so I asked where he saw me fitting into the company.

"As a manager" was the response." I asked who were the company's competitors and was told none. I was invited back for a second interview the following night.

Now the red flags were going up. I checked the Web site for Primerica which was very comphrehensive. I gave Larry the benefit of the doubt and thought that most people in a current job could not take time off 2 days in a row; therefore, the night meeting.

This interview was actually an orientation meeting. A few of us asked direct questions but were given vague answers by the trainer.

But, the discussions were about how to help people get out of debt. Reputable sources and articles were presented the CEO and the office we were in was that of a Regional director.

So far,so good. Then Larry takes me aside and asks me to fill out information about myself...background, education, etc. When it came to references and I said I would have to fill that in later due to the fact that I did not have my address book with me, he said that I should think of as many people as I can for refernces. It asked for 6 which struck me odd since most ask for 3.

I was invited to a training meeting on Saturday. Still not ready to pass negative judgement, I went. Now, all the flags were going up and waving in my head.

We watched a video of 2 top Primerica entrepeuners. When I started to hear "Amen" and "Yes" chanted in the background of both the video and from the people in the room with me, I felt as if I was in a cult.

After the video, I asked Larry if this organization had any similar qualities to Amway. "Oh NO, we help people." When I stated what I got out of the meeting and video was the recruiting of people and nothing about helping people get out debt, he clammed up and his brother jumped in with a very clear explanation.

Yes, Primerica helps people with financial services but the bottom line is You recruit people and they recruit people, etc. and that is how you make your money. I continued to ask questions and the answers were vague and come to more meetings.

Although this is not a true Pyramid set up since there is no money passing hands, it has the foundation of one. People substitute the money issue. It doesn't matter what Primerica is providing or not selling (as is the case of Amway), the product has nothing to do with the way it operates.

The recruits I met had little or no college education, and came from a variety of backgrounds. I have no prejudice with working with a mixed variety of people, but I also work a job where higher salaries are based on education and experience.

I have a Master's degree and felt as if I would start from zero with this company. I do not want more training for an entirely new career.

Plus, when I started questioning the integrity of the company or the people who represent it, and my answers were vague, I knew it was not for me. Perhaps comparing Primerica to a cult is unfair, but when chanting "Amen" after statements made by a presenter are heard, and this is not church, I think one should examine the company more closely. For some, Primerica may be their "thing".

Danielle

San Diego, California

This report was posted on Ripoff Report on 12/28/2001 12:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica-/San-Diego-California/Primerica-Financial-Services-Research-of-its-financial-products-and-Business-Opportunity-10157. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 UPDATE Employee

Question for Leroy

AUTHOR: Lisa - (U.S.A.)

I quickly reviewed most of the threads and found that you basically "live" on this website. Do you have any friends? Do you have a social life? Actually, you don't have to answer that becuase as evidenced on this website, you don't have a life at all. ahhh - how sad.

I bet that if you spent a quarter of the time that you spend on this website actually "helping your clients", you could actually retire in a couple of years. Well, unless you are salary, if you are, then I wonder if your boss knows how much time you spend "at your second home" while you should be actually working or maybe you get an incentive by "living" here, I don't know -- the only thing that I know is that you have a lot of time on your hands -- again, how sad :(

In fact, that reminds me, I have to go to work and since I don't get paid by "living" on this website and quite frankly, I have a career and family and friends, so I don't have time to "live" here so this is my last entry -- so Leroy, you don't have to respond to this because I won't be back, I have more important things to do with my time. But, of course you will respond because, again, you have no life.
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#2 Consumer Comment

Lisa in Cleveland

AUTHOR: Leroy - (U.S.A.)

To begin with if your portfolio was making 10-13% in the years leading up to 2000 it was underperforming. Secondly it would not have made 10-13% over the last 5 years, in fact in all liklihood it would have lost money so you should be thankful for the 3-5% return Western Soutern or whoever earned for you.

Lastly, you don't have to borrow your own money. Its obvious you have a varaible life policy. maybe your agent didn't explain this but you can take withdrawals from the cash value account which are not loans. Not only that on the moneys you do borrow it interest rate the company charges doesn't matter!!!! (that felt good after hearing 250 or so primericans say interest rates don't matter over the last few years).

The only thing that does matter is the NET INTEREST rate. You see when you take a cash value loan you aren't really borrowing your own money. The insurance company sends you THEIR money. YOUR MONEY stays in your account and earns interest. YOUR money is held as collateral for the loan. It goes out of the stock market and into a fixed interest account. In a large portion of variable life policies the amount of % you recieve on your money and the % charges ion their money are EXACTLY THE SAME!!!!
That would mean the NET INTEREST RATE would be zero. In almost all variable life policies the NET interest rate is lower than 2%. Maybe your isn't, I don't know.

What I do know is you're obviously a typical half trained primerica agent and you just got an education (from me) on how a variable life policy actually works.
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#3 REBUTTAL Owner of company

Other insurance companies rip people off everyday

AUTHOR: Lisa - (U.S.A.)

About 5 years ago, I had an investment portfolio, I had a guy from Western Southern convince me to transfer the money in my portfolio into a life insurance policy!!!!!! What really ticked me off is that the guy lied to me and said that it was the same thing, but failed to tell me that I could not take my money out of the insuance policy until about 7 years later and they would CHARGE ME me 8% interest and fees to borrow MY OWN money!!!!! What kind of crap is that!!!!

Also, the insurance policy only accrued an average of 3%-5%, my portfolio was making about 10%-13%. Western Southern costed me several thousand dollars and I can't get that back --- ever.

So when you read "bad" things about primerica, please keep in mind that we NEVER did that kind of crap to anyone, in fact, as you know, we encourage people to invest in portfolios, not life insurance.
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#4 Consumer Comment

Answering Bob's question

AUTHOR: Edwin - (Canada)

Bob,

It shouldn't be difficult to understand how a company can be bad for nearly 30 years and still be around. Amway has been in business for 40 years and they are still going.

A company may do many things that is unethcial (eg have reps lying to you that company is looking for manangers when in fact they are really looking people into a MLM sale), but as long as it is not doing anything illegal, the law can't shut it down.
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#5 Consumer Suggestion

Leroy seems to practice fuzzy numbers

AUTHOR: Bob - (U.S.A.)

People don't listen to Leroy or to anyone for that matter on the link!!! Logically there are very few people who will pay more than there monthly mortgage payment states. The rates may be a little higher but the reality is that the rate is not something that should be shopped for in a loan. I work for a mortgage company and we do not simply give clients the best rate. We give them what is essential for there lifestyle at that moment. It may not be correct either but Leroy seems to suggest that the american debt is a good thing when people can't save a dime today. If you run across someone from Primerica and you are in a debt crisis wouldn't it be worth exploring what they have to offer. Everyone wants to say it is to good to be true but no one wants to say it is to bad to be true. All of these people seem to say they are ex-employees but if a company was so bad and crooked than how would it be around for nearly 30 years? I don't understand that so if you could Leroy would you please explain the last part to me?
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#6 Consumer Comment

Primerica smart loans cost the consumer

AUTHOR: Leroy - (U.S.A.)

No question, no doubt, primerica loans cost the cosumer 10s of $1000s over the course of the loan.

Take the straw man argument of Simple versus Scheduled interest. Given equal interest rates it is correct simple interest saves money, HOWEVER, primerica rates run 1.5-2% higher than anyone else.
The net result is:
ALL the savings between simple and scheduled interest is made up in the lower cost loan in about 4 months. Every month after that the lower cost loan is saving the client literally hundreds of dollars over the primerica not-so-smart loan. Anyone professing to be a financial adviser who cannot see past company propaganda and make this analysis on his own doesn't deserve your business.

Bi-Monthly payments are no big deal. All they do is create 13 monthly payments a year thus accelerating the loan payoff. EXACTLY the same thing can be accomplished adding 8.33% of the principle and interest payment to each payment.
You don't have to get a bi-monthly payment plan from your bank, primerica or anyone else to shorten your loan. Just pay an additional $83 a month on each $1000 of your mortgage payment.

If you're too lazy to add the 8.33% to each payment yourself go to your bank and get a bi-monthly plan. Even if they charge you $395 to set it up, like my bank wanted to do, you'll make up the difference between that and a primerica loan in ONE MONTH.

On a $250,000 loan with EXACTLY THE SAME PAYMENT SCHEDULE, a primerica SMART loan that is 1.75% higher than a conventional loan will cost the consumer and about an extra $88,000 in interest
over the course of the loan.

By the way...the reason primerica doesn't charge mortgage insurance is that they more than make up for it by charging EVERYONE 1.75-2% more for the loan. That makes up for the defaults that mortgage insurance would have covered PLUS...now get this.............on a conventional loan with mortgage insurance once you have 20% equity in your home the mortgage insurance charge is dropped. On a primerica NOT-SO-SMART loan the interest rate is NEVER dropped. They get to keep charging 1.75% more until the loan is paid off.

Lastly....if your financial adviser cannot see past company propaganda to have made these analytical comparisons for you, they don't deserve your business.
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#7 Consumer Comment

Make your own decisions

AUTHOR: Elle - (U.S.A.)

I have spent the last hour or so reading all of these comments. Probably too much time but because I have family who works for PFS and have had my concerns for a while, I thought I should do some more research. What should I think? Well, first and for most, I was hoping to find out more specifics on the company. For example, how they get paid, exactly what do they get paid for, why do they need to recruit etc. These questions, I have been asking myself for along time.

I did have a chance to ask but I always came up short with answers. Because of my family being allowed, I spent a weekend at a convention of all PFS. WOW! The only thing I got from the weekend was vague answers. The whole time that I was there I felt uneasy, scouted by others, and it seemed like a cult. All of them could only talk about how much money so and so made. And what is with "the rings"?

For every $100,000 you earn, you get a ring with a diamond. Interesting, maybe even motivating. But when I met a couple who wore them on the their ring fingers, married to each other or PFS. I do have to say, I met alot of really nice people from around the world....and they were all there for free and getting lots of free stuff. Who doesn't like free stuff....but they could think about donating that money to important causes.

After the weekend I asked people around me if they had heard about the company....I either got laughs or plain look of your family is stupid.
Now in saying all this, I would like to remain optimistic that the people involved are good people doing the right thing. I am concerned with their promises of lots of $$$ and getting people that have very little experience in what they do/sell.

I have and will not have my family member work with me on insurance...I have a great experienced agent with a long standing reputation in the community. As for my mortgage, I associate very closely in the industry and my lender has a Master in Finance (I do believe in education for certain fields). My financial advisor has his degree in finance and works for a company that didn't show up on the BBB or this website. My family member only has the few classes PFS had him take....not enough for me. Call me an education snob but I wouldn't go to an M.D. who didn't have a degree.

In saying all that, I want all people to succeed and I am not quick to say "cimerica" but I am not an advocate.

When is enough enough? My family member works a ton of hours, for over two years, and still not making enough money to support his family. That concerns me. Why is this company still encouraging him to be apart of Primerica and not telling him to get a job that support his family. I feel that maybe he is not a match for what he is doing. But no one inside of this company is telling him to do anything else.
When in most jobs if you are not succeeding, you usually get fired or sent in a different direction.

As for so many people who have posted....do what you feel is right. If the company is so wrong it will prove itself someday but maybe it is a good company and you will have success.
Make your own decisions and not those who are jaded by anger....
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#8 Consumer Comment

Make your own decisions

AUTHOR: Elle - (U.S.A.)

I have spent the last hour or so reading all of these comments. Probably too much time but because I have family who works for PFS and have had my concerns for a while, I thought I should do some more research. What should I think? Well, first and for most, I was hoping to find out more specifics on the company. For example, how they get paid, exactly what do they get paid for, why do they need to recruit etc. These questions, I have been asking myself for along time.

I did have a chance to ask but I always came up short with answers. Because of my family being allowed, I spent a weekend at a convention of all PFS. WOW! The only thing I got from the weekend was vague answers. The whole time that I was there I felt uneasy, scouted by others, and it seemed like a cult. All of them could only talk about how much money so and so made. And what is with "the rings"?

For every $100,000 you earn, you get a ring with a diamond. Interesting, maybe even motivating. But when I met a couple who wore them on the their ring fingers, married to each other or PFS. I do have to say, I met alot of really nice people from around the world....and they were all there for free and getting lots of free stuff. Who doesn't like free stuff....but they could think about donating that money to important causes.

After the weekend I asked people around me if they had heard about the company....I either got laughs or plain look of your family is stupid.
Now in saying all this, I would like to remain optimistic that the people involved are good people doing the right thing. I am concerned with their promises of lots of $$$ and getting people that have very little experience in what they do/sell.

I have and will not have my family member work with me on insurance...I have a great experienced agent with a long standing reputation in the community. As for my mortgage, I associate very closely in the industry and my lender has a Master in Finance (I do believe in education for certain fields). My financial advisor has his degree in finance and works for a company that didn't show up on the BBB or this website. My family member only has the few classes PFS had him take....not enough for me. Call me an education snob but I wouldn't go to an M.D. who didn't have a degree.

In saying all that, I want all people to succeed and I am not quick to say "cimerica" but I am not an advocate.

When is enough enough? My family member works a ton of hours, for over two years, and still not making enough money to support his family. That concerns me. Why is this company still encouraging him to be apart of Primerica and not telling him to get a job that support his family. I feel that maybe he is not a match for what he is doing. But no one inside of this company is telling him to do anything else.
When in most jobs if you are not succeeding, you usually get fired or sent in a different direction.

As for so many people who have posted....do what you feel is right. If the company is so wrong it will prove itself someday but maybe it is a good company and you will have success.
Make your own decisions and not those who are jaded by anger....
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#9 Consumer Comment

Make your own decisions

AUTHOR: Elle - (U.S.A.)

I have spent the last hour or so reading all of these comments. Probably too much time but because I have family who works for PFS and have had my concerns for a while, I thought I should do some more research. What should I think? Well, first and for most, I was hoping to find out more specifics on the company. For example, how they get paid, exactly what do they get paid for, why do they need to recruit etc. These questions, I have been asking myself for along time.

I did have a chance to ask but I always came up short with answers. Because of my family being allowed, I spent a weekend at a convention of all PFS. WOW! The only thing I got from the weekend was vague answers. The whole time that I was there I felt uneasy, scouted by others, and it seemed like a cult. All of them could only talk about how much money so and so made. And what is with "the rings"?

For every $100,000 you earn, you get a ring with a diamond. Interesting, maybe even motivating. But when I met a couple who wore them on the their ring fingers, married to each other or PFS. I do have to say, I met alot of really nice people from around the world....and they were all there for free and getting lots of free stuff. Who doesn't like free stuff....but they could think about donating that money to important causes.

After the weekend I asked people around me if they had heard about the company....I either got laughs or plain look of your family is stupid.
Now in saying all this, I would like to remain optimistic that the people involved are good people doing the right thing. I am concerned with their promises of lots of $$$ and getting people that have very little experience in what they do/sell.

I have and will not have my family member work with me on insurance...I have a great experienced agent with a long standing reputation in the community. As for my mortgage, I associate very closely in the industry and my lender has a Master in Finance (I do believe in education for certain fields). My financial advisor has his degree in finance and works for a company that didn't show up on the BBB or this website. My family member only has the few classes PFS had him take....not enough for me. Call me an education snob but I wouldn't go to an M.D. who didn't have a degree.

In saying all that, I want all people to succeed and I am not quick to say "cimerica" but I am not an advocate.

When is enough enough? My family member works a ton of hours, for over two years, and still not making enough money to support his family. That concerns me. Why is this company still encouraging him to be apart of Primerica and not telling him to get a job that support his family. I feel that maybe he is not a match for what he is doing. But no one inside of this company is telling him to do anything else.
When in most jobs if you are not succeeding, you usually get fired or sent in a different direction.

As for so many people who have posted....do what you feel is right. If the company is so wrong it will prove itself someday but maybe it is a good company and you will have success.
Make your own decisions and not those who are jaded by anger....
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#10 UPDATE Employee

Everyone has there own take. I have had nothing but great experiences.

AUTHOR: Neil - (U.S.A.)

I am a rep for PFS. I have had nothing but great experiences. I field train my downline and they get all commisions for everything they are licensed for. Once they obtain the correct license I code there client to them.

Our smart loan saves money, no doubt and no arguement. Every othe bank charges a monthly fee to make bi-monthly payments. Then even at bi-monthly they do not apply it the balance but once a month. We apply it as soon as it is made which lowers the principle amount from the get go.

Everyone on here says would you trust a PFS rep with your investments.... Well we turn the money over to the largest and most profitable investment firm in the world. We do not sit and control the money in any way. We have a program that the top advisement company in the world (morningstar) recommends for each client. So how can we go wrong??????

I have seen to many families helped to say this is a scam.

Not everyone can do this business, but I know it helps people
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#11 Consumer Comment

PFS benefits

AUTHOR: Leroy - (U.S.A.)

sales reps are independent contractors so no, they do not have benefits or a pension plan. Home office employees do.
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#12 Consumer Suggestion

an open letter to employees and reps of PFS

AUTHOR: Mike - (U.S.A.)

i was very hesitent to write this but after much deliberation, i decided to give it a go.

i want to make it very clear, i have never been a client nor any professional relationship with primerica. in fact, i have run my own financial planning business and now am affiliated with a global (based in the US) fortune 100 company that works exclusively in financial services. i will not mention their name (though i am quite proud of that affiliation) because i dont want any misconception that i am trying to direct business to my company.

however, this is a letter primarily to those who WORK for primerica. sometimes you just dont know what you dont know. in my over 1 year of interviewing companies before selecting my current company, i interviewed (meaning i interviewed them) with about 2 dozen companies. here is what someone in financial services should know if they were looking for a reputable broker with who to affiliate.

1. in the financial services profession, there is no such thing as "up-line" or "down-line". if this is what you are looking for; Amway, Mary Kay, and Team America are standing by for your phone calls.

2. a supervisor of yours should NEVER share in or worse yet take commissions (or pay) from anyone who you brought to the table for an interview (by this i mean fact finding interview for professional financial services). supervisors first responsibility in this whole world is to help you be successful. NOT to live off the sweat of your brow.

3. training should be just that ... training. it can have motivational aspects of it but it is never motivational rah rah with some training tips mixed in. the training should be focused, documented, and based on your needs. eventually, you wont need to learn what a Roth is; it is time to teach you how to do a 412(i) plan.

4. anyone who tells you that only permanent insurance or only term insurance is the only way to go is incompetent. further, anyone who can only sell one not the other of these products is unable to act as a fiduciary for their clients. in fact, the ONLY way in the world to fund a 412(i) plan is WITH PERMANENT INSURANCE!!!

5. no reputable company will tie your commission break out to recruiting. while a company MAY provide you a finder's fee for recommending a quality candidate - how in the world can you recruit someone to do a job you yourself have no experience in???

6. if primerica's goal for only offering term is predicated on "buying term to invest the difference" then you really need to run your numbers. if you need short term protection then you must have short term insurance. if you are providing for long term needs, you need permanent insurance. now, this is a debate that you can have at length with someone other than me. but if you are a professional in this industry, RUN THE NUMBERS yourself. if you find that term is better for long term needs, you don't understand the numbers.

7. training at professional firms is run by professionals. in my company we have a primary trainer in the office who is backed up by additional staffs of offsite professionals. the off-siters come in to supplement training. here is the kicker - the trainers are paid by the company! they are on salary. they don't get an override on your sales and they under no circumstances take a "cut" of what you make - even if they conduct a whole appointment and product placement FOR you - they still take none of your earnings!

8. there is no "cost for training" like the $199 i hear bantied about. in fact, reputable companies will provide you study materials, classroom training, mentoring, and pay for your licensing. while i have a fair amount of knowledge about primerica, i dont fully understand this $199 thing so i am only commenting on what i have read on this site.

9. bulding your own business is not done on the backs of others you recruit. earlier in this thread i saw that someone said this is how you build a business - and that it can be done no other way!!! how wrong this is! first off, you build a business by helping people. when you bring value to their lives, they have more financial needs. you help them again. they refer you to others who are important in their lives and you add that family to your "book of business". it takes about 100-200 client families to have a mature practice. this mature practice (generally) will generate about $200K in annual gross pay to an advisor. THIS IS THE ONLY WAY TO BUILD A LEGITIMATE FINANCIAL PLANNING or ADVISORY BUSINESS. in my dinky little office i have one advisor who will make a million gross this year and several who will be in the $200K range. not a single one of them recruited anybody - ever!

10. reputation is everything. in the early period for our advisors, they are welcome to piggy back off of our reputation - which is stellar! it is stellar because we dont have 10,000 rip off reports about us; it is stellar because we don't get mongosso fines levied by the SEC and NASD or the state insurance regulators; and finally it is stellar because all of the outside independent rating agencies say it is. in very short order because of our training and mentoring system, our advisors have established their own personal reputation. and they NEVER have to worry about whether we as a company will sully them personally.

well, 10 is a nice place to wrap it up. remember, this is written to those who are employed by primerica. if you are a hard worker and are smart and really do enjoy helping people make dreams become reality - there are companies out there (many companies, not just mine) where these 10 points are truisms.

are they true for primerica?
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#13 Consumer Comment

Question about PFS

AUTHOR: Mike - (Canada)

Does this company offer its employees full benefits with a pension plan?
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#14 UPDATE Employee

PFS isn't for everyone but... for me, its all good

AUTHOR: T - (U.S.A.)

This business isn't for everyone, just like college. I too, am a college grad with a degree in Communications. Except for the financial aspect, it works for me because you have to talk to people and that's what I know how to do.

I've been with Primerica for a few months and for me, its all good. I didn't read all the responces because of time but there was one post that talked about the Term Insurance and how its an extra expense. Well, that is true but that goes for car insurance as well. People get that to protect their vehicle in the event of an accident. Our product essentially does the same. The purpose of offering Term is because it is cheaper. It may not be the cheapest but it's still cheaper compared to whole life and VUL policies.

Someone said that people don't save money. The money saved is the difference in cost of what they may be currently paying for a product they have.

Now, my upline is one of the best in this business. Yes, recruiting is stressed but not more than helping or should I say educating people about finances. Those who had a bad experience with a recruiter, sorry you feel that way. Not everyone is in this to just get paid. If people are at PFS just to get paid, they need to change their priorities. That can be applied to all jobs if you think about it.

I'm not in it to make loads of money because I know that will come from my hard work and I feel great when I show people that it's possible to accomplish dreams and there is a way for you to get out of debt.

Utimately, it's up to the client whether they want to purchase a product or not. I know I don't force something onto someone. I simply just show them that their are options. One of my teammates would tell a client that if their is a better product out there, go with that instead of ours. That shows that there are people in this industry that actually care about their clients. I think that is important in this business not matter who you work for is affliated with.

There are quite a few people who jumped the gun on PFS. Some knocked it without even trying. I know our office don't chant "AMEN". So I can see how that can freak you out.

For those who passed, that's fine. I honestly wish all those the best in life and in their future endeavors. God Bless!
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#15 UPDATE EX-employee responds

This was My experience...

AUTHOR: Keya - (U.S.A.)

A woman who is a close friend of my family is a Regional Vice President of Primerica. She recruited me due to my entrepreneural spirit. No disrespect to anyone but my close friend earn almost 80k annually. She do not have anyone working underneath her (I quit). Most RVP's earn over 100k. Her superiors often tell her, she's a hard worker but she needs to recruit people who will produce. Yes, they think they are helping people get out of debt. Yes, they can refinance your house. Yes, they offer life insurance. No matter how you view it, it's a sales job. Most Primerica agents are extremely inexperienced and are the bottom of the totem pole regarding finance. They do not keep up with market trends. As a primerica customer, once you enroll into a mutual fund, you are on your own! When the market is down, a REAL and experienced broker give u a heads up. Plus they give you alternatives. Primerica's main focus is to get as many customers as possible and recruit others into your pipe line. It's not exactly a bad thing if you are heavily into sales. Personally, I quit because if I work my butt off, why should everybody else reap the reward MORE than me? This is what happened:
I completed 6 SMART Loans within my first week. I submitted many more during the next few weeks. Cool. Was compensated between $600 - 820 for each loan because they only give u a percentage. Cool. The person who recruited me, received over $3000 for each loan. NOT COOL! I would not care if they received a fee for each loan I presented. However, they should not receive a hell of a lot more when I DID ALL OF THE WORK!THEY DID NOTHING EXCEPT HAVE ME PAY FOR A JOB! They gave me an award at the convention but they gave the person who recruited me an award too! Her award was based on number of loans within a certain time period. Most of them were my loans or referrals. My reason for quitting was because i was really upset someone else can earn more money and recognition for MY work. I felt like hurting someone. When you work hard, it's not fair for other people (your upline) to get compensated more than you. If they gave me the 3 grand and paid them the 600, I probably would've stayed. I do not mind them earning something, just not more than the person who served as the worker ant. My promotion should not automatically mean your promotion if you do not deserve it.
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#16 UPDATE EX-employee responds

This was My experience...

AUTHOR: Keya - (U.S.A.)

A woman who is a close friend of my family is a Regional Vice President of Primerica. She recruited me due to my entrepreneural spirit. No disrespect to anyone but my close friend earn almost 80k annually. She do not have anyone working underneath her (I quit). Most RVP's earn over 100k. Her superiors often tell her, she's a hard worker but she needs to recruit people who will produce. Yes, they think they are helping people get out of debt. Yes, they can refinance your house. Yes, they offer life insurance. No matter how you view it, it's a sales job. Most Primerica agents are extremely inexperienced and are the bottom of the totem pole regarding finance. They do not keep up with market trends. As a primerica customer, once you enroll into a mutual fund, you are on your own! When the market is down, a REAL and experienced broker give u a heads up. Plus they give you alternatives. Primerica's main focus is to get as many customers as possible and recruit others into your pipe line. It's not exactly a bad thing if you are heavily into sales. Personally, I quit because if I work my butt off, why should everybody else reap the reward MORE than me? This is what happened:
I completed 6 SMART Loans within my first week. I submitted many more during the next few weeks. Cool. Was compensated between $600 - 820 for each loan because they only give u a percentage. Cool. The person who recruited me, received over $3000 for each loan. NOT COOL! I would not care if they received a fee for each loan I presented. However, they should not receive a hell of a lot more when I DID ALL OF THE WORK!THEY DID NOTHING EXCEPT HAVE ME PAY FOR A JOB! They gave me an award at the convention but they gave the person who recruited me an award too! Her award was based on number of loans within a certain time period. Most of them were my loans or referrals. My reason for quitting was because i was really upset someone else can earn more money and recognition for MY work. I felt like hurting someone. When you work hard, it's not fair for other people (your upline) to get compensated more than you. If they gave me the 3 grand and paid them the 600, I probably would've stayed. I do not mind them earning something, just not more than the person who served as the worker ant. My promotion should not automatically mean your promotion if you do not deserve it.
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#17 UPDATE EX-employee responds

This was My experience...

AUTHOR: Keya - (U.S.A.)

A woman who is a close friend of my family is a Regional Vice President of Primerica. She recruited me due to my entrepreneural spirit. No disrespect to anyone but my close friend earn almost 80k annually. She do not have anyone working underneath her (I quit). Most RVP's earn over 100k. Her superiors often tell her, she's a hard worker but she needs to recruit people who will produce. Yes, they think they are helping people get out of debt. Yes, they can refinance your house. Yes, they offer life insurance. No matter how you view it, it's a sales job. Most Primerica agents are extremely inexperienced and are the bottom of the totem pole regarding finance. They do not keep up with market trends. As a primerica customer, once you enroll into a mutual fund, you are on your own! When the market is down, a REAL and experienced broker give u a heads up. Plus they give you alternatives. Primerica's main focus is to get as many customers as possible and recruit others into your pipe line. It's not exactly a bad thing if you are heavily into sales. Personally, I quit because if I work my butt off, why should everybody else reap the reward MORE than me? This is what happened:
I completed 6 SMART Loans within my first week. I submitted many more during the next few weeks. Cool. Was compensated between $600 - 820 for each loan because they only give u a percentage. Cool. The person who recruited me, received over $3000 for each loan. NOT COOL! I would not care if they received a fee for each loan I presented. However, they should not receive a hell of a lot more when I DID ALL OF THE WORK!THEY DID NOTHING EXCEPT HAVE ME PAY FOR A JOB! They gave me an award at the convention but they gave the person who recruited me an award too! Her award was based on number of loans within a certain time period. Most of them were my loans or referrals. My reason for quitting was because i was really upset someone else can earn more money and recognition for MY work. I felt like hurting someone. When you work hard, it's not fair for other people (your upline) to get compensated more than you. If they gave me the 3 grand and paid them the 600, I probably would've stayed. I do not mind them earning something, just not more than the person who served as the worker ant. My promotion should not automatically mean your promotion if you do not deserve it.
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#18 UPDATE EX-employee responds

This was My experience...

AUTHOR: Keya - (U.S.A.)

A woman who is a close friend of my family is a Regional Vice President of Primerica. She recruited me due to my entrepreneural spirit. No disrespect to anyone but my close friend earn almost 80k annually. She do not have anyone working underneath her (I quit). Most RVP's earn over 100k. Her superiors often tell her, she's a hard worker but she needs to recruit people who will produce. Yes, they think they are helping people get out of debt. Yes, they can refinance your house. Yes, they offer life insurance. No matter how you view it, it's a sales job. Most Primerica agents are extremely inexperienced and are the bottom of the totem pole regarding finance. They do not keep up with market trends. As a primerica customer, once you enroll into a mutual fund, you are on your own! When the market is down, a REAL and experienced broker give u a heads up. Plus they give you alternatives. Primerica's main focus is to get as many customers as possible and recruit others into your pipe line. It's not exactly a bad thing if you are heavily into sales. Personally, I quit because if I work my butt off, why should everybody else reap the reward MORE than me? This is what happened:
I completed 6 SMART Loans within my first week. I submitted many more during the next few weeks. Cool. Was compensated between $600 - 820 for each loan because they only give u a percentage. Cool. The person who recruited me, received over $3000 for each loan. NOT COOL! I would not care if they received a fee for each loan I presented. However, they should not receive a hell of a lot more when I DID ALL OF THE WORK!THEY DID NOTHING EXCEPT HAVE ME PAY FOR A JOB! They gave me an award at the convention but they gave the person who recruited me an award too! Her award was based on number of loans within a certain time period. Most of them were my loans or referrals. My reason for quitting was because i was really upset someone else can earn more money and recognition for MY work. I felt like hurting someone. When you work hard, it's not fair for other people (your upline) to get compensated more than you. If they gave me the 3 grand and paid them the 600, I probably would've stayed. I do not mind them earning something, just not more than the person who served as the worker ant. My promotion should not automatically mean your promotion if you do not deserve it.
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#19 UPDATE Employee

What you should know before you join

AUTHOR: Joe - (U.S.A.)

First, I would like to thank everyone for posting their points of view, and their own personal experiences with Primerica. I have always found this website entertaining, as well as educational over the past 2 years. Now whether you're someone who likes Primerica or not, I feel that people need to know the facts. I'd like to take a moment to share with people what I wish I knew before I started.
You should know how you get paid whether you're already in the business, or are curious about joining. So, pay close attention for your own benefit.

It is true that everyone starts with a 25% contract for doing life insurance policies. Most of you are probably aware that most Primerica Representatives use a model of an annual premium of $1000. So let's start with that.
Here are the steps that will happen, and why people are generally surprised when they receive their first few checks.
1. You do a life application for an annual premium of $1000
2. 25% of $1000 is your cut which leaves you with a $250 commission. That's what most people think anyway.
3. You only get 75% of that commission right away which is $187.50 and will receive the remainder after the policy has been in effect for at least 9 months. Still, not a bad chunk of change to make right?
4. Your field trainer splits the commission when they go on appointments with you. So that $187.50 is now a whopping $93.75. Not all field trainers do this but you should all be aware that this is an option they have to take advantage of.
5. If the policy you get paid off of doesn't stay in effect for the first 9 months, you get what the company calls a chargeback. That means you either have to pay that commission back directly or have it taken out of your next check commission.

Now, even though most people are showed the example of a $1000 annual premium, the company uses an average annual premium of $700 in its literature. So, let's take a look at that now.

Annual Premium of $700.Your 25% cut is $175. Even though after having the policy in effect for 9 months you get the whole amount, you only get 75% of that right away which is $131.25. If your field trainer decides to split the commission which they are entitled to do, you will come away with $65.63

Assuming that some people don't make the average annual premiums, lets take a look at what will happen if you close a policy with an annual premium of $500 just to give you an idea of what a check of this sort would look like. A $500 annual premium at your 25% commission rate is $125. That means you will get the normal 75% upfront which is $93.75. If your field trainer goes on the appointment with you and chooses to use the split commission option, it will leave you with $46.88

Keep in mind splitting the commission and overrides are not one in the same. An override is the difference between what your commission rate is, and what your uplines is. The splitting commission's option is totally different. It is a way for the company to allow a field trainer to make some money while training new recruits. I think this may have been made available in the situation that someone other than you immediate upline takes you on an appointment. I could be wrong but that is my guess.

Make sure you find out the cost of all the licenses you wish the get. Always ask and make sure you find out about if and when they are due to renew, and how often. Plus, also find out how much the renewals will cost you. Certain licenses also require continuing education as well, so find out how many hours you need, and how much it will cost you. All of this stuff varies from state to state that's why I can't give specific amounts.

I just wanted to let you know that expenses in Primerica can rise quickly, so add all this to your $199 IBA fee and you can see what I mean. It all adds up, and does so quite quickly.

Whether you like or dislike Primerica, were or currently are involved in, or are considering joining, these are things you should know, and with all the expenses involved, I felt it was important to show you how a particular paycheck gets broken down. Apart from that, I feel it is also necessary to show you some other things that should come into play during your decision of whether or not to join this company.

1. Primerica has over 100,000 licensed representatives.
2. Primerica estimates an annual (2006) payout of close to $650,000,000
3. If you do the math, that means an average payout of $6,500 to each licensed representative

That's not a whole hell of a lot of money to go around. The sad part is I don't think that is even an accurate description of what people can expect to make in this company. Let me tell you why. First here are the numbers Primerica uses for there opportunity night business overview.

Here's what Primerica states:

Personal Income Reps
$50,000 - $99,999 4,789
$100,000 - $999,999 2,084
$1,000,000 - $1,999,999 37
$2,000,000 - $4,999,999 16

To get e real estimate of what people are to expect to earn with this company, take a nice hard look at these numbers. If we go by the model of 100,000 licensed representatives that means only 6,926 people out of over 100,000 make more than $50,000. That's only 6.93%. Now I did some calculations to estimate the amount of money to be paid out. Assuming that in all the income ranges that people only made the minimums (i.e. 50,000, 100,000, 1 million, 2 million. I used these values because even at 10% of the income ranges listed in the table will pass there budget) the annual personal income distributed to the top 6.93% is $516,850,000. That is 79% of Primerica's $650,000,000 distribution!! The remaining $133,150,000 is left to split among the other 93% of the company!! That means that the other little over 93,000 people would get an average of $1431.72 each.

Really take the time to take in this information before you decide whether or not to join this company. It requires a lot of time and commitment. So before you get all psyched up about how much money you were told you can make, be aware of how little you can make as well. I'm not here to tell you whether or not you should join this company or not, or tell you whether or not you can be the next millionaire. I'm simply putting out the facts, and letting you make your own educated decision. Don't be afraid to ask your interviewer questions, you deserve to get the answers you desire. I hope this was as of some help to whoever reads this.
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#20 Consumer Comment

Licensing for Primerica "Advisors"

AUTHOR: C - (U.S.A.)

Yes, I guess I probably do have a prejudice, but when I ran across a couple "planners" from Primerica they had neither a General Registered Representative License (Series 7) nor were Certified Financial Planners. This tells me they were neither "planning" nor "advising". As I mentioned in my first sentence, I have both of these credentials, and more, so I am probably unfairly biased. I know I wouldn't let any of my frinds or family work with them...
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#21 Consumer Comment

My Primerica Experience

AUTHOR: Sara - (U.S.A.)

Ladies and Gents,

I had the pleasure of taking part in the Primerica "experience" last night. I was quite pleased to find that it wasn't a "rip off" scheme but rather a RIP OFF/PONZI SCHEME that promised to only take 1 hour and ended up wasting 3!

RUN FAR AWAY FROM PRIMERICA!!!!!

My reasons?

A) The rep. was thrilled to teach me the Rule of 72. Hmm, sorry lady my dad is a CFP (see: CERTIFIED FINANCIAL PLANNER) and has a FINANCE degree so I learned about the rule of 72 in second grade when we started division! Furthermore I took ONE basic accounting class in college and the rule was further drilled into our heads! So, yeah already know it, so you need not make a pathetic attempt to "impress" me with it. Although kudos for telling me I was the smartest person you had met with--I am smart although I assume you made this comment in yet another pathetic attempt to get me to sway.

B) I'm so glad that you can get your securities license in a month--it's not that difficult. However, it saddens me to see that you think this is acceptable for you to sell insurance and securities with little education (other than your cult like "trainings") to validate what you are selling. These are people's lives, do not fool yourself into thinking you know what you are doing because you passed the easy insurance test and paid some company $200k.

C) MOST FINANCIAL PLANNERS DO A NEEDS ANALYSIS COMPLIMENTARY TOO! So what is the deal with saying that these cost thousands of dollars? Did I mention my dad is a CFP!!!

D) We target middle class Americans . . . blah, blah, blah. No you don't, you target Americans that are lower middle class in hopes that you in turn can get their hopes up and have them sign over $200 plus monthly "investments".

E) Your term life insurance policies rank the 3rd highest in the country!

F) Your "retirement savings plans" i.e. the annuities and mutual funds you con people into have the highest maintenance fees and the highest percentage fees that I have ever seen! They're higher than my insurance companies!! Which by the way is too high ($30 annual fee, plus a total of 2.6% maintenance fees!!)

G) I tell you I am scheduled to take my LSAT's in a few weeks and your response is that I should cancel? Are you seriously that caught up in this Ponzi scheme?

H) You state that attorneys are the most destitute class of workers in the world? Again, are seriously that caught up in this scheme?

I) My college education is too expensive? Well, thank you very much I happen to quite enjoy the fact that I am college educated and attempting to be able to pursue a law degree. In reality, there are less opportunities for non educated individuals to make the same amount of money in the same jobs as educated people. Do not criticize my education I work damn hard balancing 40+ hours of work owning a business with my husband, two children and a full time college schedule!

J) Family is number one to me--my children and husband, so exactly why would I want to waste 10+ hours a week at night to make pennies on the hour? Yes, okay I slightly overexaggerated the pennies portion, however you see my point.

K) If this was all it took for alot of people to get suckered into this scheme than I feel bad--we should have a financial education class in high school, but oh well . . .

L) No dearie, you are not the largest company in the world and you do not make profits of 1.5 trillion dollars. Hon, your company is a SUBSIDIARY of Citigroup. Did you happen to realize that most "parent" companies use subsidiaries to limit their risk in the "child" company? Hmm, yeah Primerica has alot of risk . . .

M) Finally, as mentioned previously in many other posts, if a Google search is done on "Primerica" or "Primamerica" the first 5 out of 10 search results are from ripoffreport.com. Doesn't this say something to you?

Oh, and it is totally a cult--and the only thing that I want to be 'religious' about is God. And I am sure that other religious persons--regardless of religion--feel the same about their beliefs!
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#22 UPDATE EX-employee responds

Rip-off...don't be fooled

AUTHOR: Joseph - (U.S.A.)

I was fooled into thinking I could make an extra $1000-1500 per month part time. I was approached by a person named James at BestBuy. I was told I could earn some extra money part time (not being told it was commission). Assuming it would be a salary based job, I went to their "meeting". I thought I would be the only one being interviewed...on the contrary, I showed up and at least 10 other people were there.

I showed up in a suit and tie while others showed up in jeans and more casual wear. Their "office" if you want to call it that is and was located behind Meineke of all places. It is a legitimate opportunity, however only a few make it to the top. They can promise you a 1,000-1,500 per month when in reality you'll spend that much on gasoline to get to their office before you make any real cash.

Oh yeah, and James also known as Jimmy told me the interview/meeting would be held closer to my house...at the last minute he changed the location to somewhere 45 minutes away. NOT CONVENIENT. And he wasn't even there for the meeting; some guys were there to explain the "opportunity".

I know I should have thrown up a red flag but might as well just go to see what they had to offer. I've only been with the company a week or two, and after reading the reports on this company I will not be going back to the office. I'll also attempt to recover the $199 bogus charge that I should have never given them. Good day to you all and stay away from this horrible company.
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#23 Consumer Comment

God and Primerica

AUTHOR: Eric - (U.S.A.)

Well, obviously God should be the main focus in the business world. However, using God's name to make a business look better is actually disobeying one of the Ten Commandments. Using God's name in vain is anything from cursing or using His name falsely to the better of a dishonest act or business.

So to comment on Primerica using God's name as a "hook" to join, is not only rediculous, but morally wrong.

Just be honest and say "money" is your reason for what you do, not "God". Any person believing God is the reason for working would be ignorant.
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#24 Consumer Suggestion

My take on Primerica

AUTHOR: Ben - (U.S.A.)

Primerica is more complicated to understand than most financial companies. Their training is unorthodox, allbeit neither bad or wrong. You get to interact with many people from many companies in the financial services buisness, and I've met many Primerica Reps and I have been impressed with their zeal and their passion. There are many hard-workers in that company. The main problem is that they don't employ many full-time professionals they employ a lot of part-time folks. Now I have no doubt that nearly everyone in their organization wants to help people. The problem is that they don't have the tools, training, and education to do so. Financial advising is not the same as selling Tupperware or Avon. Almost anytime you place life insurance with a family is a good thing. Here are my problems with Primerica:
1. How can a Primerica Rep immediatelly recruit others to work under them? They haven't been trained or educated? How are you going to do right by your friends, family, and neighbors if you don't know what you're selling?
2. If your target market is 25-45 with families, why don't you sell disability insurance? The odds are 2:1 that someone becomes disabled rather than die.

3. If your target market is 25-45 low-income why does your company sell long term care? I've talked to Primerica reps and they don't do estate planning, so why would you sell long term care to seniors without being able to place whole-life insurance for burial expenses or whatever else their heirs may have.
4. To say term insurance is always the best is as silly as a company like Northwestern Mutual saying that whole life is always the best. There is a different solution for every situation. Primerica doesn't give their agents the tools to solve those problems.
5. Most of the time Primerica Reps are not planners, they are product peddlers. Now almost anytime you place life insurance with a family its a good thing, but Primerica isn't doing comprehensive planning and covering all the bases, and I feel that's irresponsible if you're going to put yourself out there as a financial professional.

6. Financial advisors selling mortgages? That is nonsense. What are you trying to accomplish by selling mortgages, you can refinance through a bank. People aren't asking you to be their banker, they want some help with their insurance, investemnts, and estate planning. At least that's what I find.

If you are serious about being a financial advisor, I'm not saying Primerica is a bad place to start, but be careful about what you do for people, because you can create more problems than solutions. This is a serious business and while Primerica Reps may be as committed as anyone else out there, they don't have the education, training, or products to truely do comprehensive planning, and that's dangerous both to the client and Primerica Reps when they find out what they've done to their friends and family.

If some Primerica Reps are truely interested in being a financial advisor, I'd like them to read about Joe Jordan at Met Life or John McTigue at Northwestern Mutual, Wayne Cotton, or Mitch Anthony. It will open your eyes. No other company generates this level of controversy. New York Life, AFLAC, Ameriprise, Mutual of Omaha, Northwestern Mutual, Banker's Life, Met Life, American General, A.G. Edwards, Piper Jaffrey, Edward Jones, American Family, Thrivant, none of them have so many claims of fraud and misconduct. Primerica is not the place for people serious about being financial advisors. I'd look to their recruiting. They don't want someone that has worked at any of the companies above. Why wouldn't an insurance and financial services company want to recruit people with experience? Because they can't be exploited.
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#25 Consumer Suggestion

My take on Primerica

AUTHOR: Ben - (U.S.A.)

Primerica is more complicated to understand than most financial companies. Their training is unorthodox, allbeit neither bad or wrong. You get to interact with many people from many companies in the financial services buisness, and I've met many Primerica Reps and I have been impressed with their zeal and their passion. There are many hard-workers in that company. The main problem is that they don't employ many full-time professionals they employ a lot of part-time folks. Now I have no doubt that nearly everyone in their organization wants to help people. The problem is that they don't have the tools, training, and education to do so. Financial advising is not the same as selling Tupperware or Avon. Almost anytime you place life insurance with a family is a good thing. Here are my problems with Primerica:
1. How can a Primerica Rep immediatelly recruit others to work under them? They haven't been trained or educated? How are you going to do right by your friends, family, and neighbors if you don't know what you're selling?
2. If your target market is 25-45 with families, why don't you sell disability insurance? The odds are 2:1 that someone becomes disabled rather than die.

3. If your target market is 25-45 low-income why does your company sell long term care? I've talked to Primerica reps and they don't do estate planning, so why would you sell long term care to seniors without being able to place whole-life insurance for burial expenses or whatever else their heirs may have.
4. To say term insurance is always the best is as silly as a company like Northwestern Mutual saying that whole life is always the best. There is a different solution for every situation. Primerica doesn't give their agents the tools to solve those problems.
5. Most of the time Primerica Reps are not planners, they are product peddlers. Now almost anytime you place life insurance with a family its a good thing, but Primerica isn't doing comprehensive planning and covering all the bases, and I feel that's irresponsible if you're going to put yourself out there as a financial professional.

6. Financial advisors selling mortgages? That is nonsense. What are you trying to accomplish by selling mortgages, you can refinance through a bank. People aren't asking you to be their banker, they want some help with their insurance, investemnts, and estate planning. At least that's what I find.

If you are serious about being a financial advisor, I'm not saying Primerica is a bad place to start, but be careful about what you do for people, because you can create more problems than solutions. This is a serious business and while Primerica Reps may be as committed as anyone else out there, they don't have the education, training, or products to truely do comprehensive planning, and that's dangerous both to the client and Primerica Reps when they find out what they've done to their friends and family.

If some Primerica Reps are truely interested in being a financial advisor, I'd like them to read about Joe Jordan at Met Life or John McTigue at Northwestern Mutual, Wayne Cotton, or Mitch Anthony. It will open your eyes. No other company generates this level of controversy. New York Life, AFLAC, Ameriprise, Mutual of Omaha, Northwestern Mutual, Banker's Life, Met Life, American General, A.G. Edwards, Piper Jaffrey, Edward Jones, American Family, Thrivant, none of them have so many claims of fraud and misconduct. Primerica is not the place for people serious about being financial advisors. I'd look to their recruiting. They don't want someone that has worked at any of the companies above. Why wouldn't an insurance and financial services company want to recruit people with experience? Because they can't be exploited.
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#26 Consumer Suggestion

My take on Primerica

AUTHOR: Ben - (U.S.A.)

Primerica is more complicated to understand than most financial companies. Their training is unorthodox, allbeit neither bad or wrong. You get to interact with many people from many companies in the financial services buisness, and I've met many Primerica Reps and I have been impressed with their zeal and their passion. There are many hard-workers in that company. The main problem is that they don't employ many full-time professionals they employ a lot of part-time folks. Now I have no doubt that nearly everyone in their organization wants to help people. The problem is that they don't have the tools, training, and education to do so. Financial advising is not the same as selling Tupperware or Avon. Almost anytime you place life insurance with a family is a good thing. Here are my problems with Primerica:
1. How can a Primerica Rep immediatelly recruit others to work under them? They haven't been trained or educated? How are you going to do right by your friends, family, and neighbors if you don't know what you're selling?
2. If your target market is 25-45 with families, why don't you sell disability insurance? The odds are 2:1 that someone becomes disabled rather than die.

3. If your target market is 25-45 low-income why does your company sell long term care? I've talked to Primerica reps and they don't do estate planning, so why would you sell long term care to seniors without being able to place whole-life insurance for burial expenses or whatever else their heirs may have.
4. To say term insurance is always the best is as silly as a company like Northwestern Mutual saying that whole life is always the best. There is a different solution for every situation. Primerica doesn't give their agents the tools to solve those problems.
5. Most of the time Primerica Reps are not planners, they are product peddlers. Now almost anytime you place life insurance with a family its a good thing, but Primerica isn't doing comprehensive planning and covering all the bases, and I feel that's irresponsible if you're going to put yourself out there as a financial professional.

6. Financial advisors selling mortgages? That is nonsense. What are you trying to accomplish by selling mortgages, you can refinance through a bank. People aren't asking you to be their banker, they want some help with their insurance, investemnts, and estate planning. At least that's what I find.

If you are serious about being a financial advisor, I'm not saying Primerica is a bad place to start, but be careful about what you do for people, because you can create more problems than solutions. This is a serious business and while Primerica Reps may be as committed as anyone else out there, they don't have the education, training, or products to truely do comprehensive planning, and that's dangerous both to the client and Primerica Reps when they find out what they've done to their friends and family.

If some Primerica Reps are truely interested in being a financial advisor, I'd like them to read about Joe Jordan at Met Life or John McTigue at Northwestern Mutual, Wayne Cotton, or Mitch Anthony. It will open your eyes. No other company generates this level of controversy. New York Life, AFLAC, Ameriprise, Mutual of Omaha, Northwestern Mutual, Banker's Life, Met Life, American General, A.G. Edwards, Piper Jaffrey, Edward Jones, American Family, Thrivant, none of them have so many claims of fraud and misconduct. Primerica is not the place for people serious about being financial advisors. I'd look to their recruiting. They don't want someone that has worked at any of the companies above. Why wouldn't an insurance and financial services company want to recruit people with experience? Because they can't be exploited.
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#27 Consumer Suggestion

My take on Primerica

AUTHOR: Ben - (U.S.A.)

Primerica is more complicated to understand than most financial companies. Their training is unorthodox, allbeit neither bad or wrong. You get to interact with many people from many companies in the financial services buisness, and I've met many Primerica Reps and I have been impressed with their zeal and their passion. There are many hard-workers in that company. The main problem is that they don't employ many full-time professionals they employ a lot of part-time folks. Now I have no doubt that nearly everyone in their organization wants to help people. The problem is that they don't have the tools, training, and education to do so. Financial advising is not the same as selling Tupperware or Avon. Almost anytime you place life insurance with a family is a good thing. Here are my problems with Primerica:
1. How can a Primerica Rep immediatelly recruit others to work under them? They haven't been trained or educated? How are you going to do right by your friends, family, and neighbors if you don't know what you're selling?
2. If your target market is 25-45 with families, why don't you sell disability insurance? The odds are 2:1 that someone becomes disabled rather than die.

3. If your target market is 25-45 low-income why does your company sell long term care? I've talked to Primerica reps and they don't do estate planning, so why would you sell long term care to seniors without being able to place whole-life insurance for burial expenses or whatever else their heirs may have.
4. To say term insurance is always the best is as silly as a company like Northwestern Mutual saying that whole life is always the best. There is a different solution for every situation. Primerica doesn't give their agents the tools to solve those problems.
5. Most of the time Primerica Reps are not planners, they are product peddlers. Now almost anytime you place life insurance with a family its a good thing, but Primerica isn't doing comprehensive planning and covering all the bases, and I feel that's irresponsible if you're going to put yourself out there as a financial professional.

6. Financial advisors selling mortgages? That is nonsense. What are you trying to accomplish by selling mortgages, you can refinance through a bank. People aren't asking you to be their banker, they want some help with their insurance, investemnts, and estate planning. At least that's what I find.

If you are serious about being a financial advisor, I'm not saying Primerica is a bad place to start, but be careful about what you do for people, because you can create more problems than solutions. This is a serious business and while Primerica Reps may be as committed as anyone else out there, they don't have the education, training, or products to truely do comprehensive planning, and that's dangerous both to the client and Primerica Reps when they find out what they've done to their friends and family.

If some Primerica Reps are truely interested in being a financial advisor, I'd like them to read about Joe Jordan at Met Life or John McTigue at Northwestern Mutual, Wayne Cotton, or Mitch Anthony. It will open your eyes. No other company generates this level of controversy. New York Life, AFLAC, Ameriprise, Mutual of Omaha, Northwestern Mutual, Banker's Life, Met Life, American General, A.G. Edwards, Piper Jaffrey, Edward Jones, American Family, Thrivant, none of them have so many claims of fraud and misconduct. Primerica is not the place for people serious about being financial advisors. I'd look to their recruiting. They don't want someone that has worked at any of the companies above. Why wouldn't an insurance and financial services company want to recruit people with experience? Because they can't be exploited.
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#28 Consumer Comment

response to Matthew - Rancho Cucamonga

AUTHOR: Karen - (Canada)

Over the weekend a friend of mine attended one of these seminars in Halifax, NS. I took it upon myself to look into this Primerica to see for myself how much truth thier is to this company.
My comment is in response to Matthew - Rancho Cucamonga, California
U.S.A., posted Submitted: 10/18/2006 10:56:00 PM Modified: 10/18/2006 10:56:00 PM
You stated
" QUESTION*** why does crimerica deceptively recruit for "management positions because we are expanding in your area"?

ANSWER*** Personally I have never heard of anyone in Primerica recruit for "MANAGEMENT" positions because there is no such thing. However, we are ALWAYS recruiting in your area because there is a HUGE need for what we do"

Well I just want to let you know that this was the first thing said to my friend about Primerica, that we are looking to expand to your area, and we are looking for you to be the manager to run the new store.

So I will be printing off this comment so she can see the first of many lies that were told to her by a "Primerica Representative" as per your quote above " there is no such thing "

Thanks for making it easy

Karen
Nova Scotia
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#29 UPDATE EX-employee responds

General

AUTHOR: Michael - (U.S.A.)

Hello, this is my first time posting here. I have been reading all the reports on Primerica for a few months now and I think its time for me to put in my 2 cents. I used to work for primerica.

I joined back in 2004 after a recruiter would not stop calling me for 2 weeks straight. I finally joined and decided to give it a try (it looked good). Never did I think I would be forced to go to so many meetings where all they talked about was money money money. The "we help people become debt free and financially independent" is so cliche. They sweet talk you, "you going to be helping people", "imagine what a friend would think when you help him out".

Anyway, I got "trained" got 2 licenses and basicaly used up all my warm market in those training appointments. Why did i do that? Because my "trainer" would not go out with me if i did not make appointments. ( This is when i started noticing things)."Our FNA is free and complimentary", ofcourse its free it only take 2 seconds to do it on the computer.

A lot of banks and financial institutions offer the same exact service and with more options. Most of the sales were completely forced and i was never able to get refferals because of that. Good thing i had good credibility with my friends and family and didnt make a fool out of myself.

After the last sale, i was not happy the way it went so i decided to just take some time off from the business, it was just too much. During this time i started noticing that my upline was not doing business anymore, then i come to find that he was doing fraudulant things and got terminated. So that made me think, oh let me give this one more try, maybe it was my trainer that was messing things up for me.

I was then direct downline to a regional vice president (mind you this guy is making 600k a year). We went out on a couple of appointments and he did not close 1 sale. And for every time we didnt close there was an excuse, "oh they were panzies" , or "they were not the right market". Mind you, i was taking them to people that were well off. So I kept trying and then a few month later I see that my old trainer is back.

What kind of reputable company hires back a person that was once a possible huge liability for them?. At that point I was very upset and realized that thats not where I wanted to be. At this point also ALL my recruits quit because they were also being trained by my orignal upline because I was not trained enough to go out with them. Something was wrong.

Well to make the long story shor,t 18 months later after struggling and actually giving it a try I let it go. I noticed that a lot of people that were actually joining were people that had no other chance in life. Primerica was their last and only chance. I didn't belong in that group. I knew my education was important and Primerica also consistantly in these meeting kept bringing education down and how it "only takes heart" to win no matter your education or background. I can go on and on.

All in all i think like me there are tons of people and the odds of making it in Primerica are 2%. We have more of chance in openning our own business, although primerica insists otherswise. There is probably lots of things i left out, but in a nutshell, it was a good learning experience, would i recommend it? probably not unless you are in the hole and dont mind ripping people off especially with that S.M.A.R.T loan. That is all.
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#30 UPDATE EX-employee responds

General

AUTHOR: Michael - (U.S.A.)

Hello, this is my first time posting here. I have been reading all the reports on Primerica for a few months now and I think its time for me to put in my 2 cents. I used to work for primerica.

I joined back in 2004 after a recruiter would not stop calling me for 2 weeks straight. I finally joined and decided to give it a try (it looked good). Never did I think I would be forced to go to so many meetings where all they talked about was money money money. The "we help people become debt free and financially independent" is so cliche. They sweet talk you, "you going to be helping people", "imagine what a friend would think when you help him out".

Anyway, I got "trained" got 2 licenses and basicaly used up all my warm market in those training appointments. Why did i do that? Because my "trainer" would not go out with me if i did not make appointments. ( This is when i started noticing things)."Our FNA is free and complimentary", ofcourse its free it only take 2 seconds to do it on the computer.

A lot of banks and financial institutions offer the same exact service and with more options. Most of the sales were completely forced and i was never able to get refferals because of that. Good thing i had good credibility with my friends and family and didnt make a fool out of myself.

After the last sale, i was not happy the way it went so i decided to just take some time off from the business, it was just too much. During this time i started noticing that my upline was not doing business anymore, then i come to find that he was doing fraudulant things and got terminated. So that made me think, oh let me give this one more try, maybe it was my trainer that was messing things up for me.

I was then direct downline to a regional vice president (mind you this guy is making 600k a year). We went out on a couple of appointments and he did not close 1 sale. And for every time we didnt close there was an excuse, "oh they were panzies" , or "they were not the right market". Mind you, i was taking them to people that were well off. So I kept trying and then a few month later I see that my old trainer is back.

What kind of reputable company hires back a person that was once a possible huge liability for them?. At that point I was very upset and realized that thats not where I wanted to be. At this point also ALL my recruits quit because they were also being trained by my orignal upline because I was not trained enough to go out with them. Something was wrong.

Well to make the long story shor,t 18 months later after struggling and actually giving it a try I let it go. I noticed that a lot of people that were actually joining were people that had no other chance in life. Primerica was their last and only chance. I didn't belong in that group. I knew my education was important and Primerica also consistantly in these meeting kept bringing education down and how it "only takes heart" to win no matter your education or background. I can go on and on.

All in all i think like me there are tons of people and the odds of making it in Primerica are 2%. We have more of chance in openning our own business, although primerica insists otherswise. There is probably lots of things i left out, but in a nutshell, it was a good learning experience, would i recommend it? probably not unless you are in the hole and dont mind ripping people off especially with that S.M.A.R.T loan. That is all.
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#31 UPDATE EX-employee responds

General

AUTHOR: Michael - (U.S.A.)

Hello, this is my first time posting here. I have been reading all the reports on Primerica for a few months now and I think its time for me to put in my 2 cents. I used to work for primerica.

I joined back in 2004 after a recruiter would not stop calling me for 2 weeks straight. I finally joined and decided to give it a try (it looked good). Never did I think I would be forced to go to so many meetings where all they talked about was money money money. The "we help people become debt free and financially independent" is so cliche. They sweet talk you, "you going to be helping people", "imagine what a friend would think when you help him out".

Anyway, I got "trained" got 2 licenses and basicaly used up all my warm market in those training appointments. Why did i do that? Because my "trainer" would not go out with me if i did not make appointments. ( This is when i started noticing things)."Our FNA is free and complimentary", ofcourse its free it only take 2 seconds to do it on the computer.

A lot of banks and financial institutions offer the same exact service and with more options. Most of the sales were completely forced and i was never able to get refferals because of that. Good thing i had good credibility with my friends and family and didnt make a fool out of myself.

After the last sale, i was not happy the way it went so i decided to just take some time off from the business, it was just too much. During this time i started noticing that my upline was not doing business anymore, then i come to find that he was doing fraudulant things and got terminated. So that made me think, oh let me give this one more try, maybe it was my trainer that was messing things up for me.

I was then direct downline to a regional vice president (mind you this guy is making 600k a year). We went out on a couple of appointments and he did not close 1 sale. And for every time we didnt close there was an excuse, "oh they were panzies" , or "they were not the right market". Mind you, i was taking them to people that were well off. So I kept trying and then a few month later I see that my old trainer is back.

What kind of reputable company hires back a person that was once a possible huge liability for them?. At that point I was very upset and realized that thats not where I wanted to be. At this point also ALL my recruits quit because they were also being trained by my orignal upline because I was not trained enough to go out with them. Something was wrong.

Well to make the long story shor,t 18 months later after struggling and actually giving it a try I let it go. I noticed that a lot of people that were actually joining were people that had no other chance in life. Primerica was their last and only chance. I didn't belong in that group. I knew my education was important and Primerica also consistantly in these meeting kept bringing education down and how it "only takes heart" to win no matter your education or background. I can go on and on.

All in all i think like me there are tons of people and the odds of making it in Primerica are 2%. We have more of chance in openning our own business, although primerica insists otherswise. There is probably lots of things i left out, but in a nutshell, it was a good learning experience, would i recommend it? probably not unless you are in the hole and dont mind ripping people off especially with that S.M.A.R.T loan. That is all.
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#32 UPDATE EX-employee responds

General

AUTHOR: Michael - (U.S.A.)

Hello, this is my first time posting here. I have been reading all the reports on Primerica for a few months now and I think its time for me to put in my 2 cents. I used to work for primerica.

I joined back in 2004 after a recruiter would not stop calling me for 2 weeks straight. I finally joined and decided to give it a try (it looked good). Never did I think I would be forced to go to so many meetings where all they talked about was money money money. The "we help people become debt free and financially independent" is so cliche. They sweet talk you, "you going to be helping people", "imagine what a friend would think when you help him out".

Anyway, I got "trained" got 2 licenses and basicaly used up all my warm market in those training appointments. Why did i do that? Because my "trainer" would not go out with me if i did not make appointments. ( This is when i started noticing things)."Our FNA is free and complimentary", ofcourse its free it only take 2 seconds to do it on the computer.

A lot of banks and financial institutions offer the same exact service and with more options. Most of the sales were completely forced and i was never able to get refferals because of that. Good thing i had good credibility with my friends and family and didnt make a fool out of myself.

After the last sale, i was not happy the way it went so i decided to just take some time off from the business, it was just too much. During this time i started noticing that my upline was not doing business anymore, then i come to find that he was doing fraudulant things and got terminated. So that made me think, oh let me give this one more try, maybe it was my trainer that was messing things up for me.

I was then direct downline to a regional vice president (mind you this guy is making 600k a year). We went out on a couple of appointments and he did not close 1 sale. And for every time we didnt close there was an excuse, "oh they were panzies" , or "they were not the right market". Mind you, i was taking them to people that were well off. So I kept trying and then a few month later I see that my old trainer is back.

What kind of reputable company hires back a person that was once a possible huge liability for them?. At that point I was very upset and realized that thats not where I wanted to be. At this point also ALL my recruits quit because they were also being trained by my orignal upline because I was not trained enough to go out with them. Something was wrong.

Well to make the long story shor,t 18 months later after struggling and actually giving it a try I let it go. I noticed that a lot of people that were actually joining were people that had no other chance in life. Primerica was their last and only chance. I didn't belong in that group. I knew my education was important and Primerica also consistantly in these meeting kept bringing education down and how it "only takes heart" to win no matter your education or background. I can go on and on.

All in all i think like me there are tons of people and the odds of making it in Primerica are 2%. We have more of chance in openning our own business, although primerica insists otherswise. There is probably lots of things i left out, but in a nutshell, it was a good learning experience, would i recommend it? probably not unless you are in the hole and dont mind ripping people off especially with that S.M.A.R.T loan. That is all.
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#33 Consumer Comment

the fact is Alan is yet another Crimerica Tool

AUTHOR: Jay - (U.S.A.)

this latest crimerica shill blindly repeated 5 classic crimerica myths and was craftly enough to separate the lies into 5 distinct paragraphs. hopefully, Alans military background doesnt mean the a$$clown recruiters at Crimerica are now deceiving the fine men and woman who bravely serve our country. they deserve better than to be taken by the snake oil salesman who call themselves RVP's.
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#34 UPDATE EX-employee responds

Poor performer

AUTHOR: Alan - (U.S.A.)

The fact is that PFS is an excellent company.

1. Even if you dont get involved with the company, they will provide you with a free financial needs analysis and information about how money works.

2. I was a rep out of Kansas City, while serving on Active duty in the Army at Fort Leavenworth.
During that time I was able to educate and help a variety of families, some of whom are doing quite well with PFS products.

3. You can obtain your life insurance license and a Securities license. Both of these achievements are money makers, not only with PFS, but with many other agencies.

4. Primerica exposes the lies associated with Whole life insurance policies and allows people to be more in control of their money.

5. I highly recommend the company
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#35 Consumer Comment

For Patrick, the answer is easy

AUTHOR: Jay - (U.S.A.)

pay the extra 150K with your not so smart loan, do not pass go, do not collect $200, and head straight to Crimerica Jonestown and enjoy a tall glass of RVP KoolAid. cheers, Jay

p.s. tried to rebut Matthew the brainwashed but RipOff seems to pick and choose what to post and what to censor
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#36 UPDATE EX-employee responds

Patrick in Orlando - SMART Loan

AUTHOR: Paul - (U.S.A.)

Patrick where are you getting your numbers???

Just went to bankrate.com, figured out your loan scenrio, ,

$289,900 financed,
30 years, 6.1%

Total interset, $342,500 + $289,900 = $632,440..
so that totally blows your scenrio right out of the water, now if you take that same loan and do a bi-weekly payment, here are the numbers

Interset =265607.65 + $289,900 = $555,507..

so both these scenrios blow your SMART loan out of the water, so you tell me what loan would you take for yourself?
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#37 Consumer Comment

Patrick

AUTHOR: Fish - (U.S.A.)

If interest rates don't matter, would you be OK if Primerica were to bump your APR to say 20%?
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#38 UPDATE Employee

numbers dont lie

AUTHOR: Patrick - (U.S.A.)

before primerica...
mortgage $289,900 financed
--------------------------
30 year fixed, 6.1% interest rate, $972K+ in payments...

after...

SMART Loan
done in 20 years, 7 months, 9+% interest rate (who cares), $721K in payments

I'M DONE 10 YEARS FASTER AND SAVE $250K IN INTEREST

Look, money paid out and time in loan is everything... why focus on the APR when it doesnt matter????

BTW - someone point out where i can purchase $1.6 million in term life for less than $155 a month???
--------------------------
BTW AGAIN, yes i'm a rep in part time but will be much more very shortly, the products work, END OF STORY. the education is real. primerica costs you nothing but time and when your realize what you're learning about, the opportunities available, for nothing.... NOTHING.... state and federal licensing costs you money... THATS IT... what you make of it is what you're willing to put into it.

cynics will say things like "its a cult", "its a pyramid", etc. EVERY BUSINESS RECRUITS... you just get paid on how well you train - a great incentive to train well.
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#39 UPDATE Employee

numbers dont lie

AUTHOR: Patrick - (U.S.A.)

before primerica...
mortgage $289,900 financed
--------------------------
30 year fixed, 6.1% interest rate, $972K+ in payments...

after...

SMART Loan
done in 20 years, 7 months, 9+% interest rate (who cares), $721K in payments

I'M DONE 10 YEARS FASTER AND SAVE $250K IN INTEREST

Look, money paid out and time in loan is everything... why focus on the APR when it doesnt matter????

BTW - someone point out where i can purchase $1.6 million in term life for less than $155 a month???
--------------------------
BTW AGAIN, yes i'm a rep in part time but will be much more very shortly, the products work, END OF STORY. the education is real. primerica costs you nothing but time and when your realize what you're learning about, the opportunities available, for nothing.... NOTHING.... state and federal licensing costs you money... THATS IT... what you make of it is what you're willing to put into it.

cynics will say things like "its a cult", "its a pyramid", etc. EVERY BUSINESS RECRUITS... you just get paid on how well you train - a great incentive to train well.
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#40 UPDATE Employee

numbers dont lie

AUTHOR: Patrick - (U.S.A.)

before primerica...
mortgage $289,900 financed
--------------------------
30 year fixed, 6.1% interest rate, $972K+ in payments...

after...

SMART Loan
done in 20 years, 7 months, 9+% interest rate (who cares), $721K in payments

I'M DONE 10 YEARS FASTER AND SAVE $250K IN INTEREST

Look, money paid out and time in loan is everything... why focus on the APR when it doesnt matter????

BTW - someone point out where i can purchase $1.6 million in term life for less than $155 a month???
--------------------------
BTW AGAIN, yes i'm a rep in part time but will be much more very shortly, the products work, END OF STORY. the education is real. primerica costs you nothing but time and when your realize what you're learning about, the opportunities available, for nothing.... NOTHING.... state and federal licensing costs you money... THATS IT... what you make of it is what you're willing to put into it.

cynics will say things like "its a cult", "its a pyramid", etc. EVERY BUSINESS RECRUITS... you just get paid on how well you train - a great incentive to train well.
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#41 UPDATE EX-employee responds

PFS Sales Force is the Commodity

AUTHOR: Anthony - (U.S.A.)

I'm going to offer another opinion here. And that is, to Primerica Financial Services (PFS) corporate the agent is the commodity. That is why time after time their commodity shows up on this site echoing the same time-tested drivel. This is why debating them is futile, because if one disappears another one pops up to take his place. Sort of like the arcade game "Wack a Mole"

If PFS corporate could come up with a business plan that was profitable and did away with this commodity (the sales force) and sell directly over the internet and lower their prices they would do it in a heartbeat. However, what the commodity provides is that precious warm market (leads) which PFS knows is its gold mine. In fact they use to sell term over internet via The Travelers, a former sister company. And the local Citi-Financial offices compete directly with the PFS agents in the selling of the SMART? loans. Citibank sell credit cards directly over the internet again bypassing the sales force. All the while magically convincing their own sales force that they are not a bank at least not like the others.

Sandy Weil, Former CEO of Citigroup which he put together to wreak revenge on American Express, when asked by a prominent PFS'er about the fact that the field agents were now competing with the Travelers in selling of term insurance, said words to this effect. Son, we're in the business of making money. (I'm paraphrasing) and was dead serious. I suggest if PFS corporate could replace this commodity (their sales force) with blinking lights and fancy whistles, if it sold more insurance they could care less. Of course there is nothing necessarily wrong for a business to be profitable, that's the whole point of running a business, however the blatant use of systematic deception (as proven by the number of complaints on this site alone) to achieve this does not make it right.

Regards,
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#42 UPDATE EX-employee responds

You continue to help people????

AUTHOR: Paul - (U.S.A.)

Hey Matthew in CA.

How do you continue to help people? Advise your clients, you can buy Primerica life insurance or another companies for 20-30% less, which do you think they will choose?

Advise customers on mortgages, you can take our mortgage for 8-9%, and you know its true, you will not get any mortgages or SMART Loans less than this percentage, or do you want one thats 6-6.5% which is the national avergage right now, what do you think they will take??

Ok wait your mortagage will be paid off in 22 yrs, right?? Just tell your precious cleints that they can just make bi-weekly payments on a conventional loan and achieve the same results and thus save $1,000's over your product.

so explain to us all how your helping your cleints???

And read your contract and state the true facts, i will later when i get home i dont have my IBA agreement with me, but it clearly states that if you leave the company for any reason, that Primerica owns your clients... so if you own your own company, why dont you offer more than one insurance company?? or mortgage company??? b/c you cant, so its not like owning any other company, if I own a insurance company, i can offer as many different insurance companies as i wish, not limited to one and thats it..
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#43 Consumer Suggestion

The Fall of PFS

AUTHOR: Francis John - (U.S.A.)

PFS will fall victim to the Internet. Not that the company will fold because it is huge company and they will always attract new people who believe they will make a fortune. Of course, the new people and their family were really recruited as customers, they just didn't know it.

While they have other products...term insurance is the flagship. Anyone can go online and find term insurance much cheaper than Primerica and a host of other companies.

The Internet allows the companies to deal directly with the retail client. This is why there are an enormous number of ex-PFS out there.

You can see the real state of the industry by viewing the following video: (((ROR REDACTED LINK FOR SECURITY PURPOSES)))

Dr. Maguire


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#44 UPDATE Employee

Responding to Stuart

AUTHOR: Matthew - (U.S.A.)

Stuart,

I say that "I have my very own business with Primerica and am very fortunate" because it's how it's true. I am bound by the terms and conditions, which Primerica sets down but I chose those conditions as would I have chose the conditions of any other business (such as State Farm, Prudential whom control all the same factors). They own my clients? There is nothing in the agreement that states they own my clients. If I made the decision to separate with Primerica and contract with another company then I could go to those clients again, but I choose to stay with Primerica.

To be completely fair, I have just finished re-reading the entire contract from beginning to end. It says and I quote (page 9 section 6) "You are an independent contractor which means you may exercise considerable discretion in how you conduct ****your business****." It is my own personal business and I can do with it as I please within the the company quidelines (as in any company) I just read. I can operate my office how I choose, I can train how I choose. I can do as much or as little work as I want. I do not get paid for recruiting but can benefit of those below me whom I personally train myself. Last time I checked that is how every single business in the world worked. People at the top benefit financially from the work of those below them, whether positively or negatively. Otherwise business would be futile.

The fortunate thing about all this is that it doesn't matter. Primerica is a good company with great intentions and great products to back it up. We will continue to help people.
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#45 UPDATE EX-employee responds

Rebutting Matthew (Rancho Cucamonga)

AUTHOR: Stuart - (U.S.A.)

Hey Matt, where do you get the nerve to say this:

"I have my very own business with _________ and am very fortunate." Your own business? Crimerica owns your downline and clients (as per your IBA contract)
and can dictate who you can sell the business to.
And it's not a stretch to say that they own your soul too.
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#46 UPDATE Employee

answer to your questions Jay

AUTHOR: Matthew - (U.S.A.)

QUESTION*** why am i giving my warm market to my trainer and why do i have to pay $199 for this great opportunity?

ANSWER*** Your trainer might be taking the commissions for the training appt in your warm market but the trainee is the one that gets all the referals from those people. It is true you don't get paid for sell life insurance but (in california you can get paid for loan almost immediately) you can't get paid until you have a license, it's not Primerica's rule it's the LAW. Plus you don't have to use your entire warm market with your trainer either.

$199 for the Independent Business Application goes to the STATE not to anyone in Primerica. The classes and tests you get for that money would cost nearly if not more than $1000 if you did it on your own (in California), Primerica puts in the difference. On top of that you get your $199 back after 6 training appts. You don't have to buy a ton of merchandise to sell like other company that recruit masses to sell knives, knick knacks and other junk.

QUESTION*** is your term insurance vastly overpriced? if so, ask yourself why?

ANSWER*** This question is vague and I don't understand what you are asking. Level Term Insurance is the cheapest type of insurance there is aside from Accidental Death and Dismemberment which will refuse to pay a claim about 95-99% of the time (check it out if you don't believe me, it's true. Or if you don't want to believe me buy it let your family find out if it will pay.)

QUESTION*** why would cash value insurance be appropriate for a client facing a potentially large estate tax?

"Second to Die" life insurance is a very good thing to have if you are potentially going to face a large estate tax. If you choose to have Cash Value life insurance to provide that, then more power to you. It will probably cost more.

QUESTION***your one size fits all canned sales pitch doesnt address that scenario does it?

ANSWER*** It will be addressed if the individual needs it. Why address an estate tax if someone is not anywhere close to that being an issue (like most people in America)

QUESTION*** why does crimerica deceptively recruit for "management positions because we are expanding in your area"?

ANSWER*** Personally I have never heard of anyone in Primerica recruit for "MANAGEMENT" positions because there is no such thing. However, we are ALWAYS recruiting in your area because there is a HUGE need for what we do.

QUESTION*** would you trust your mom/dad's portfolio with the average crimerican?

ANSWER*** Never heard of Crimerica before but I would trust my Parents portfolio to a company called Primerica, Yes.

QUESTION*** why does your not so smart loan cost the average consumer tens of thousands in extra interest payments?

ANSWER*** Actually a SMART loan not only will not cost the average consumer tens of thousands in extra interest payments, it WILL SAVE the average consumer 100,000's in interest payments. I know because I have helped numerous people with them. If you don't believe me call your local Primerica office and they will gladly show you how it works and how the industry is ripping you off.

There are the answers. I am anxious to hear your reply.

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#47 UPDATE Employee

answer to your questions Jay

AUTHOR: Matthew - (U.S.A.)

QUESTION*** why am i giving my warm market to my trainer and why do i have to pay $199 for this great opportunity?

ANSWER*** Your trainer might be taking the commissions for the training appt in your warm market but the trainee is the one that gets all the referals from those people. It is true you don't get paid for sell life insurance but (in california you can get paid for loan almost immediately) you can't get paid until you have a license, it's not Primerica's rule it's the LAW. Plus you don't have to use your entire warm market with your trainer either.

$199 for the Independent Business Application goes to the STATE not to anyone in Primerica. The classes and tests you get for that money would cost nearly if not more than $1000 if you did it on your own (in California), Primerica puts in the difference. On top of that you get your $199 back after 6 training appts. You don't have to buy a ton of merchandise to sell like other company that recruit masses to sell knives, knick knacks and other junk.

QUESTION*** is your term insurance vastly overpriced? if so, ask yourself why?

ANSWER*** This question is vague and I don't understand what you are asking. Level Term Insurance is the cheapest type of insurance there is aside from Accidental Death and Dismemberment which will refuse to pay a claim about 95-99% of the time (check it out if you don't believe me, it's true. Or if you don't want to believe me buy it let your family find out if it will pay.)

QUESTION*** why would cash value insurance be appropriate for a client facing a potentially large estate tax?

"Second to Die" life insurance is a very good thing to have if you are potentially going to face a large estate tax. If you choose to have Cash Value life insurance to provide that, then more power to you. It will probably cost more.

QUESTION***your one size fits all canned sales pitch doesnt address that scenario does it?

ANSWER*** It will be addressed if the individual needs it. Why address an estate tax if someone is not anywhere close to that being an issue (like most people in America)

QUESTION*** why does crimerica deceptively recruit for "management positions because we are expanding in your area"?

ANSWER*** Personally I have never heard of anyone in Primerica recruit for "MANAGEMENT" positions because there is no such thing. However, we are ALWAYS recruiting in your area because there is a HUGE need for what we do.

QUESTION*** would you trust your mom/dad's portfolio with the average crimerican?

ANSWER*** Never heard of Crimerica before but I would trust my Parents portfolio to a company called Primerica, Yes.

QUESTION*** why does your not so smart loan cost the average consumer tens of thousands in extra interest payments?

ANSWER*** Actually a SMART loan not only will not cost the average consumer tens of thousands in extra interest payments, it WILL SAVE the average consumer 100,000's in interest payments. I know because I have helped numerous people with them. If you don't believe me call your local Primerica office and they will gladly show you how it works and how the industry is ripping you off.

There are the answers. I am anxious to hear your reply.

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#48 UPDATE Employee

answer to your questions Jay

AUTHOR: Matthew - (U.S.A.)

QUESTION*** why am i giving my warm market to my trainer and why do i have to pay $199 for this great opportunity?

ANSWER*** Your trainer might be taking the commissions for the training appt in your warm market but the trainee is the one that gets all the referals from those people. It is true you don't get paid for sell life insurance but (in california you can get paid for loan almost immediately) you can't get paid until you have a license, it's not Primerica's rule it's the LAW. Plus you don't have to use your entire warm market with your trainer either.

$199 for the Independent Business Application goes to the STATE not to anyone in Primerica. The classes and tests you get for that money would cost nearly if not more than $1000 if you did it on your own (in California), Primerica puts in the difference. On top of that you get your $199 back after 6 training appts. You don't have to buy a ton of merchandise to sell like other company that recruit masses to sell knives, knick knacks and other junk.

QUESTION*** is your term insurance vastly overpriced? if so, ask yourself why?

ANSWER*** This question is vague and I don't understand what you are asking. Level Term Insurance is the cheapest type of insurance there is aside from Accidental Death and Dismemberment which will refuse to pay a claim about 95-99% of the time (check it out if you don't believe me, it's true. Or if you don't want to believe me buy it let your family find out if it will pay.)

QUESTION*** why would cash value insurance be appropriate for a client facing a potentially large estate tax?

"Second to Die" life insurance is a very good thing to have if you are potentially going to face a large estate tax. If you choose to have Cash Value life insurance to provide that, then more power to you. It will probably cost more.

QUESTION***your one size fits all canned sales pitch doesnt address that scenario does it?

ANSWER*** It will be addressed if the individual needs it. Why address an estate tax if someone is not anywhere close to that being an issue (like most people in America)

QUESTION*** why does crimerica deceptively recruit for "management positions because we are expanding in your area"?

ANSWER*** Personally I have never heard of anyone in Primerica recruit for "MANAGEMENT" positions because there is no such thing. However, we are ALWAYS recruiting in your area because there is a HUGE need for what we do.

QUESTION*** would you trust your mom/dad's portfolio with the average crimerican?

ANSWER*** Never heard of Crimerica before but I would trust my Parents portfolio to a company called Primerica, Yes.

QUESTION*** why does your not so smart loan cost the average consumer tens of thousands in extra interest payments?

ANSWER*** Actually a SMART loan not only will not cost the average consumer tens of thousands in extra interest payments, it WILL SAVE the average consumer 100,000's in interest payments. I know because I have helped numerous people with them. If you don't believe me call your local Primerica office and they will gladly show you how it works and how the industry is ripping you off.

There are the answers. I am anxious to hear your reply.

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#49 UPDATE Employee

I am fortunate

AUTHOR: Matthew - (U.S.A.)

I think this is a rather childish show of a bunch of people ignorant about a lot of things. I have my very own business with Primerica and am very fortunate.

Primerica offers an OPPORTUNITY (referenced in a horrible way) to make extra money. Most people who make it in this company work hard. There are many that see the amount of work that you need to do to get really good and quit. It takes time to get good, especially since most people that become agents with Primerica, like myself, have a job.

After reading a lot of the above responses it concerns me. I work in an office with very AWESOME people who promote helping people and making money doing it. Any job revolves around the money you make. How many of you with nothing but negative things to say go to work for free?? If I can help a family keep from losing their home or pay it off 10 years earlier with the same amount of money (generally both)and help them retire earlier than they ever thought possible while making money in the process I think that is a fair trade.

It is ashame that so many people out there in Primerica have NO TACT at all. And since most people who get started in Primerica don't have the slightest clue about most of the things Primerica does because it's not necessary. When you apply yourself, which is necessary in any trade, you learn more and more daily.

It works to no ones good for me to try and explain the details of why Primerica is good, but I will explain why it might appear bad. As for ANYthing 9 out of 10 people have a great heart to help people, but the 1 person that most of you have had contact with make the rest of us look bad.

I am sure that someone will find something wrong with what I wrote, though there is nothing, but rest assured myself and many other people will continue to help as many families as possible.

If you have doubts about Primerica then I'm guessing that you haven't had an Financial Needs Analysis done. Look up the nearest office and get it done. IT'S FREE. IT MOST LIKELY WILL HELP YOU. YOU CAN SAY NO. THEY WILL SHOW YOU HOW IT CAN HELP YOU, BUT IF YOU WANT NOTHING TO DO WITH GETTING INVOLVED IN THE BUSINESS AND JUST TELL THEM THAT AND LET THEM SEE IF THEY CAN HELP YOU.
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#50 Consumer Suggestion

hey newb, is this groundhog day?

AUTHOR: Jay - (U.S.A.)

every day i wake up, fire up the ole laptop, log on to ripoffreport.com and read some crimerica newbie repeating the same ole lies and half truths. before you find yourself in credit card debt in 6 months(probably with your beloved Citibank) answer this:

why am i giving my warm market to my trainer and why do i have to pay $199 for this great opportunity?

is your term insurance vastly overpriced? if so, ask yourself why?

why would cash value insurance be appropriate for a client facing a potentially large estate tax? your one size fits all canned sales pitch doesnt address that scenario does it?

why does crimerica deceptively recruit for "management positions because we are expanding in your area"?

would you trust your mom/dad's portfolio with the average crimerican?

why does your not so smart loan cost the average consumer tens of thousands in extra interest payments?

i'll tune in tomorrow and wait for your response.

cheers, Jay
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#51 UPDATE EX-employee responds

Rebutting Newb (Fort Worth)

AUTHOR: Stuart - (U.S.A.)

"So please if you find yourself condeming an entire company for what bad experience you had think about it...." Not an individual issue here Newb as there are over 500 hundred threads here on RipoffReport.com with thousands of reports against Crimerica so there's nothing to think about. I can add on that Crimerica is rotten to the core.
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#52 UPDATE EX-employee responds

Newb is new

AUTHOR: Term - (U.S.A.)

Newb: one thing you have to understand is some of the people who post here are former agents of PFS. It's not so mauch as PFS being a scam or someone not working hard enough, it's about the facts. The Term product is a high priced product when shopped on the open market.

You have to ask yourself how many clients over the years have benefited from the Buy Term And Invest The Difference concept?

Yes PFS has a Term to Term conversion, but at what cost? If a person developed a health issue, how long could they afford to pay premiums? When a health issue is developed usually other cost get higher. So at least a term conversion to a perm product is a good benefit.

That being said.. As of now PFS Term is OBSOLETE. Why not do some comparison shopping on term quote sites, you will see the difference in cost. Now what if you sold the lower cost term and added that to your clients investment program? I myself would think that price is an issue to your clients.

Look outside the company for some other view points. The kool-aid you are drinking won't seem so sweet when you open up your mind to the facts.

You don't know what you don't know. Why is it you don't see any RVP's and above setting message boards straight? You will see Regina Woods from PFS, but I wonder if she owns a PFS term product and if she did would she pay a higher premium just to be loyal to PFS? The policy is to protect her family, not PFS. So I ask, where are your priorities? To PFS, your clients, or your family..You choose which order..
Knowing what I know, I can sleep well at night.
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#53 UPDATE Employee

This all makes me laugh

AUTHOR: Newb - (U.S.A.)

I am new to Primerica, but some of the things that I read on this R.O.R. humor me. I didnt read all of the rantings of mad individuals, but I will say this . In EVERY business (of any kind) you will find people that do things that are not... lets say your cup of tea.

I went to one of the meetings that a few of these people went to and I myself walked out the door, because of the way that the so called teacher had presented the company. He kept telling me that I needed to have another meeting, and another and another. I got fed up and told hiom never to call me again, BUT I believe whole heartedly that the things that Primerica cna offer to the majority of the public would benefit the public grealty.

In my limited experience with the company, I have seen A lady that works for a HUGE healthcare organization be shown that she was not covered in the fashion she was promised. There are alot of people out there that are to trusting, and do not take the time to read the fine print. I would not try to screw over my family and friends, but those are the exact people that I have worked with the most.

If I don't get rich doing this then so what, I want to help people get out of their own way so that they can retire with some wealth and not be 75 working at Wal-Mart as a greeter to pay the bills.

I have not heard anything even remotely similar to what I read above, "chanting" and other such nonsense. Although I can't fault you for not liking that, I would not have liked it either. The rest of you who are just jumping on the band wagon with but maybe a tiny recollection of what Primerica is and what they actually do... please keep your comments and false accusations to your self.

I have been in telecom for 10 years, and have worked for several companies including temp agancies, and not a single one of them had the same process of getting to the end result as the other. One office and standard of practice at Primerica didn't work for me, the other fit just right.

So please if you find yourself condeming an entire company for what bad experience you had think about it before you defame their name in such a crude manner.
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#54 Consumer Comment

Dr McGuire

AUTHOR: Leroy - (U.S.A.)

You are correct sir!!!! Term insurance is a commodity. The Primerica people saying their term insurance is "added value" term is simply nonsense and something dreamed up by a marketing exec to try to justify their bloated premiums.

I started selling term through newpaper ads and over the net a few years ago. Less stressful, less time sitting in someone's home having them tell me they can't afford $25 a month to protect their family while a 52 inch flat screen TV they are paying $150 a month to Sears for sits in the corner.
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#55 Consumer Comment

Why all the noise?

AUTHOR: Francis John - (U.S.A.)

I read these posts and find them humorous, at best.
One group calls another Crimerica while others are incessantly quoting rates of their company versus another and, of course, Primerica people extolling that " we are full service ". I still don't understand how full service applies to term insurance. You write it and that is it. There is no addeed value. Cost is cost...buy the most inexpensive.

But all this is for naught anyway, as 39% of all term insurance will be sold over the Internet directly by companies in 2006. Some projections, whether highly accurate or not, estimate 85% of all term will be sold directly over the Internet and banks by 2010.

So, essentially term insurance agents and stagecoach drivers will have a lot of time to talk to each other.

Whole life, Uinversal Life and Variable life will not suffer the same fate, as these products are still a little too complex for the general public to buy over the Internet.

When something is a little confusing to a person, then they want the assurance of sitting and talking with someone.

Those selling term...simplified the market. They did such a good job that they will be out of a job.

But good luck to all wherever you land.

Dr. Francis John Maguire
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#56 Consumer Comment

Why all the noise?

AUTHOR: Francis John - (U.S.A.)

I read these posts and find them humorous, at best.
One group calls another Crimerica while others are incessantly quoting rates of their company versus another and, of course, Primerica people extolling that " we are full service ". I still don't understand how full service applies to term insurance. You write it and that is it. There is no addeed value. Cost is cost...buy the most inexpensive.

But all this is for naught anyway, as 39% of all term insurance will be sold over the Internet directly by companies in 2006. Some projections, whether highly accurate or not, estimate 85% of all term will be sold directly over the Internet and banks by 2010.

So, essentially term insurance agents and stagecoach drivers will have a lot of time to talk to each other.

Whole life, Uinversal Life and Variable life will not suffer the same fate, as these products are still a little too complex for the general public to buy over the Internet.

When something is a little confusing to a person, then they want the assurance of sitting and talking with someone.

Those selling term...simplified the market. They did such a good job that they will be out of a job.

But good luck to all wherever you land.

Dr. Francis John Maguire
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#57 Consumer Comment

Why all the noise?

AUTHOR: Francis John - (U.S.A.)

I read these posts and find them humorous, at best.
One group calls another Crimerica while others are incessantly quoting rates of their company versus another and, of course, Primerica people extolling that " we are full service ". I still don't understand how full service applies to term insurance. You write it and that is it. There is no addeed value. Cost is cost...buy the most inexpensive.

But all this is for naught anyway, as 39% of all term insurance will be sold over the Internet directly by companies in 2006. Some projections, whether highly accurate or not, estimate 85% of all term will be sold directly over the Internet and banks by 2010.

So, essentially term insurance agents and stagecoach drivers will have a lot of time to talk to each other.

Whole life, Uinversal Life and Variable life will not suffer the same fate, as these products are still a little too complex for the general public to buy over the Internet.

When something is a little confusing to a person, then they want the assurance of sitting and talking with someone.

Those selling term...simplified the market. They did such a good job that they will be out of a job.

But good luck to all wherever you land.

Dr. Francis John Maguire
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#58 UPDATE Employee

Primerica is for some...but not all

AUTHOR: Emil - (U.S.A.)

I have read and heard a lot about the wrong Primerica does and whatnot. I just don't understand if it's the actual company that people are upset with or some of the agents that may be giving Primerica a bad reputation. I don't think I have to remind some of you that there is bad in all things unfortunately and Primerica is no exception.

I would like to start off by saying yes, I am a representative with Primerica. My goal, and only goal is to assist families and individuals in protecting themselves from a finanical disaster. How many of you reading this right now are living paycheck to paycheck? If you answered yes, then you are just one mishap, germ, disease or accident from losing everything you have worked hard to obtain. That's where Primerica comes in.

Primerica's agents are in the business of helping people save money, make money and get out of debt. Of course, not every situation is the same. I don't recall ever giving families the exact same advise when it came to their finances.

I understand there are agents out there that will use deceptive tactics to engage individuals and to have them sign up for the business. I, for one, am not one of them. When I approach an individual, I just simply ask them if they are interested in making money using their spare time? If they are, I will set an appointment with them and will expressly state that this is not a job, but an opportunity for them to go into business for themselves, which is exactly what Primerica offers. If they are still interested at that point, I will continue to set the appointment and proceed accordingly.

Some individuals feel that Primerica offers them a job. They don't. True, some of the agents are a little "wierd", but that's what sets them apart from everyone else. You have to be a litle wierd to succeed in this business. The majority of us are living paycheck to paycheck and have been taught that this is the normal. It's normal to be a slave to your mortgage. It's normal to be a slave to your car payment. It's normal to be a slave to your credit card bills. It's normal to dedicate countless hours to a job where in reality, your job is to make someone else rich. Does anyone see something wrong with that picture?
Doesn't anyone feel they deserve better? Doesn't anyone feel their family deserves better? If you answer no, why not?

I've gone to school. I've received my degree. I have what I thought was my ideal career. What I don't have is time to sepnd with my wife and 4 children. What I don't have is freedom to take time off work without having to request it off and risk not being approved for it. What I don't have is the ability to travel and enjoy life. What I don't have is the ability to save properly for my retirement because my montly pay goes to my ridiculous rent and bills. Are you in that same situation? How does it make you feel? When does the madness end? If you work a job, it doesn't. Some of you may say that there are a lot of people making really good money at their jobs. Show me someone making good money at their job and I'll show you someone working too many hours, someone who is missing time with their family, and someone who is looking for a change.

First you have to hear and accept the truth. The truth is that the system that we work in doesn't work for us. We work in a systme that limits our hours of working, pays us by the title of the position and not the person, gives us just enough money to pay our bills and very little else.

Second, you have to ask yourself "is this what I want"? If yes, then good luck to you. Because chances are you will work until you die. If your answer is no, then there is another question you have to ask yourself..."what am I going to do about it"? For some, this is an easy revelation. For others, not so easy. You see, you have to respect business owners because they decided not to be normal. The decided to take a risk, because they believed in themselves, they believed in the reward, they understood the needs of their family, and they stared the fear of failure in the face and said "bring it on".

Most successful business owners are Ivey League drop outs or don't have a college degree. The only things you need to be a successful business owner is the will to stand and push forward when everything else is pulling you back. Be determined. Be enthusiastic. Be encouraged to succeed. Don't be afraid to win because you're afraid to lose. My basketball coach once said "a shot not taken is worse than taking a shot, because if you at least take a shot, you have a 50% chance of making it, rather than limiting yourself to no chance by not taking the risk". Doesn't a 50% chance sound better than zero?

Here is my bottom line. Don't let the reps at Primerica steal from you what the company really offers. Yes, there's a lot of chanting. Yes, there's a lot of cheering. But it's not the company doing that. This business is for individuals who are ready to accomplish more than what is being offered to them right now. Someone posted that if this business was so great, why isn't everyone doing it? Here is my answer...what is stopping each and everyone of you from taking a risk to improve your situation?

Are you going to let comfort and fear rob you?
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#59 Consumer Comment

Instead of being contacted, I was dragged into the meeting....

AUTHOR: Densha - (Canada)

I know two friends that are working in Primerica. Both of them have been msging me on MSN and calling me to come to the info sessions. At first I kept telling them that I was busy and had stuff to do. Then I told them I would go since they wouldn't stop bothering me.

So I went, and I sat down with few other candidates in the room. There weren't quite a few, but enough to make it look reasonable. The whole session talked about how to get low income families get out of debt and what not. They also touched upon how much money they can save before their retirement. It sounded really good and all, but to me I wasn't just in the mood to get involved.

Later on that evening after the info session, we were told to fill out a personal info sheet. Our names, phone number, address, etc. The first time I looked at it I knew there was something wrong, but I filled it out anyways since I was too tired to think about anything. Then one of the reps came up to me and said: "So it seems like you are interested in this program. When are you available, I would like set up an interview with you so you can get more info about our company."

Without further hesitation, I told him the date and time. Again, I didn't really care at that point, cause I just wanted to get out and go home. The day of the interview arrived, and I came with my friend who currently works in PFS. The three of us sat down and we talked for a good hour. Most of it were repeats from the info session.

Then, he took out an application package and told me that he's going to first check if I am suitable for the job or not, and if yes then all I have to do is fill it out and I am in. At that point, I was like HELL NO!! You didn't even say anything and already you want me to sign this paper. What the hell is that? So I immediately said no and explained to him my situation and my feelings towards the company. He then became silent, and also a bit sad. Inside my head I was laughing cause I have won half the battle.

Heading out to the waiting room ready to go, another rep introduced himself and told me to stay a bit longer so he can explain more things to me. So the three of us went back to the room and sat down for another lecture. Again, I told him that I wasn't interested. However, in the near future, I might reconsider (Obviously by that time I'll be gone, so this hope I gave them is just to temp. comfort them). That was my story. Now for the key points that I am about to make:

First of all, whoever wrote something that PFS was like a Pyramid structure, I give you 2 thumbs up!! I totally agree with that. Seriously, from what I heard, almost every rep had told me that: "yea, right now we are looking forward to expand our company and what not so we need more people to help us out." Ok, fine. Sounds good and all, but what's next? Are you going to expand so that the whole world only depends on one single financial service company? I certainly don't think so.

Moreover, I really don't think it's fair to say that the employee or the self-employed are poor and that they can't control anything. Well, who said that there's gonna be free lunch? In order to gain something that we want, we have to work for it, am I correct? Sure they are not earning as much but as long as you work hard, you can get anything you want.

People at PFS kept telling me that: "yea, once you get promoted to certain positions, you can earn something close to like couple thousands dollars a week." I am sorry, is it me or do I need to get my ears washed. COUPLE THOUSAND DOLLARS PER WEEK. Wow, someone ate too much candy last night. Another statement shocked me, and it was said by one of the reps: "yea, once you join us, you first take a course and do a test and get your license. Then, all you have to do is do nothing and let me do all the work and money will fall into your pocket." Once again, wow, very nice. What brand of candy did you just ate? Excel?? LOL You guys sure know how to sweet talk.....sigh.....

I can go on and on with this, but seriously I have to say one thing. If Primerica was really the best place to learn and earn dollars like what I said above, then why don't everyone right now just drop out of school, or quit there current job and join them? It's simple right? Just fill out the form, pay the 199 and you are good to go. Let's all move from the left side of the board to the right side. You are killing yourselves out there. THINK! BEFORE YO DO! AND BRUSH YOUR TEETH AFTER EATING THOSE CANDIES!!

PS: I want to thank my parents and ma bro for supporting me and grabbing me before I drop down into the hole. REMEMBER KIDS, STAY ALERT, STAY SAFE!
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#60 Consumer Suggestion

Primerica arghhh

AUTHOR: Peter - (Canada)

i am well versed with PFS, i have been a financial services professional for close to 10 years. when i first got started inthe business i was afraid of them, but after a few face to face agent confrontations,(pfs would try to suprise me with) i quickly found out that the mass majority really do not understand the field at all, they are given a certain agenda and script adn thats all they know. i now see primerica as a asset to my business, they are amatures and are very expensive.

if you re interested in getting into the industry, go to -----, or mentor with an experienced broker, you will make more money and have more respect in the business and comunity, and people do take you serious.

im not going to bash anyone for what they believe, but it is only one point of view and not all clients call for the same solution. isnt it sad how pfs people bash the "trash value shole life industry" when there sister company is city and travellers insurance.

if you are beeing approached by a "recruiter" and you are workig at the loading dock at home depot, ask yourself why nesbit burns recruits university grads and this guy is at the mall looking for recruits......not employees

rebuttals welcome, and ps i was recruited by pfs in the beginning of my career, and left after 2 months for the above reasons, and i have enjoyed more success since
PG

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

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#61 UPDATE EX-employee responds

Following up with Edgar, La Habra

AUTHOR: Stuart - (U.S.A.)

"Stuart wants to get into some type of war of words that I forbid to engage in...." Not my words Edgar but Crimerica as I've quoted them. As I've said check out that website for yourself.

It seems you have some doubts as to what you've selected as you went to two more agents to get quotes which is what you should do. That's one way of doing it, but Crimerica's website makes it clear regarding their market and their product (term) being expensive. In any case I have a feeling you'll be having doubts as time moves along.
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#62 Consumer Suggestion

Response to Leroy

AUTHOR: Edgar - (U.S.A.)

Leroy- I actually like you! It sounds like you somewhat understand me. I don't have the answers as to why someone would buy a car with no air for a higher price, but it has been done. Your example of the difference in term coverage is dead on. Why would you pay more? Don't know but it has been done as well. Those are questions that I can not answer my simple purpose was simply to tell people that believing that Primerica is the most expensive is simply not true. I said previously that I went to a couple of what is considered top notch companies and ended up getting higher quotes. That is all that I was stating.


Stuart wants to get into some type of war of words that I forbid to engage in and more than likely I do not have the knowledge to engage in such a debate with him. I used my example of what I did and that was it. There may be some major a--holes at Primerica trying to simply make some cash, but you know what there are crap load at mortgage companies, car dealerships, and even retail stores. What I do know is that I've worked in the mortgage field for quite a while and by my standards I have not made what I would like to make, but others would disagree and wish they could make what I've made. At this rate I would still have work 9-5 five days a week for another 20-30 years and if there was a way to change that without causing other people harm I would. I look forward to hearing your reply.
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#63 Consumer Comment

Under-insured and overpriced...

AUTHOR: Melissa - (U.S.A.)

Yes, Crimerica is deceptive in their recruiting practices. It seems like every time someone dares to post about how they were called on a "job" interview and instead ended up at an "op night," some shiller writes back, "I'm sorry you had a bad experience" and blames it on "bad apples." Um--are they all bad apples? The practice seems pretty pervasive. I think my favorite explanation came from a gentleman who said, "We can't saturate the market, but we can saturate the name, which is why we do not use the name Primerica overly on the phone." Uh...what?

I'm the ex-daughter-in-law of a Primerica (see my report under my maiden name, Kelly.) I already submitted a ?report? of my own about how Crimerica tried to recruit my younger sister, a social worker. Like so many other people, she was told, ?We're looking for someone to manage our new branch offices.? One of the shillers on this site?Gary, I believe?belittled the people who lose their time (and sometimes cash) in this manner, saying something along the lines of ?They were led to think it was a job instead of a business opportunity?Poor babies!?

Well, yes, Gary, they ARE poor babies if they are told that they will be interviewing for a job and instead they are being suckered into listening to an MLM sales pitch. They may lose only some time and gas, but if Crimerica is so wonderful, why do so many of these so-called recruiters have to LIE to get people to come to their ?opportunity nights?? If Crimerica was truly ?beating the rest of the industry like a drum,? why wouldn't people willingly come to these meetings without being misled? Yes, I know that you believe one day that Crimerica will be SO big that people will be knocking down the doors to become reps and you'll be laughing because you'll be a millionaire, but...in the 30 years of AL Williams' existence, your growth has really been pretty slow. Our insurance agent, who is NOT a captive agent, laughed when I brought up Primerica. He replaces these policies constantly, and consistently gets people more insurance at a lower price.

I've read a dozen reasons from shillers on this site who try to explain why someone might pay more for a Primerica policy. The most common seems to be ?service.? Exactly what service do you provide that is worth an extra $500+ a year??? My favorite reason came from one rep who said he provided ?excitement and enthusiasm.? Personally, between paying an extra $500 for ?excitement? and buying an extra $100K worth of coverage, I'll take the coverage. Or I'll put the extra $500 in my mutual funds. The last time I went to the grocery store, they weren't accepting ?enthusiasm? in the place of hard currency for my groceries.

Taking some of your other points one by one:

1) Primerica reps make house calls, so people will pay more.
>>This is just silly. Every insurance agent I ever dealt with makes house calls?and maybe I've just had a lucky streak, but they were all professional and listened to our concerns. They didn't simply work off an obnoxious ?kitchen table presentation? and try to sell us overpriced products. Which brings me to the next point:

2) Primerica gives you a free FNA.
>>Again, just silly. NY Life and Metlife both provided me with a similar analysis for free. Besides, reading even a few finance books will give you all the info you need to do your own. It certainly isn't worth buying into a higher-premium policy (and don't even get me started on the SMART loans. I don't see how anyone can push those to the middle-class families you purport to ?help? and still sleep at night.)

3) Primerica gives people without an education or experience a chance to be ?financial advisors,? make a ton of $$$ and realize their dream of financial independence.
>>Pray tell, how is this a GOOD thing? I don't know about you, but I want my finances to be handled by someone who has something other than a tenth-grade education and a couple of company-sponsorerd classes under their belts. You can rant all you want about how college is ?elitist? or whatever, but let's face it, it does weed out patently unsuitable people from telling others how to manage their money. If you have a former burger-flipper who takes a couple of classes and declares himself a ?financial advisor??do you REALLY want this person in charge of your retirement, decisions that will affect your entire FUTURE? Yes, a CPA or CFP could conceivably screw up your plans just as badly. But there's far more oversight of these folks, and retirement planning is all about minimizing risks.

And for those of you (like Gary) who look down on college?it's true that college doesn't always teach one about life's ?practical? aspects. I should know?my husband and I are both professors, and I know I see kids every day who are pretty clueless. But I will say that a college education at least teaches you how to think critically?something I've seen lacking in a lot of Crimerica shillers. (I mean, come on??enthusiasm and excitement? makes up for spending an extra $80Gs in a SMART loan? Please!)

As for the ludicrous assertion, ?All companies are pyramids??my God, do you guys really BELIEVE this? By that logic, the university president would get a cut every time a student signed up for my course, or he'd get a piece of the librarian's salary every time a student checked out a book. I can't imagine you really believe this, though. Similarly, you make the claim that ?Every company has complaints.? The housewife two doors down sells Discovery Toys. I've hosted a few parties with her, as my sons love Discovery Toys. True, Discovery Toys is MLM, but the products are good and she makes a decent part-time income without a huge downline. From what I've read, it's impossible to make $$$ without recruiting at Primerica?a red flag. In addition, she has expenses, but they're mostly for her sample toys. If she quits tomorrow, or if she never made a sale, she'd still have the toys (not an overpriced life insurance policy). And, oddly enough, I could not find one complaint about Discovery Toys on this site.

As for the allegation that those of us who post negative things about Crimerica are ?hate mongerers? or ?crushing dreams??hey, maybe we just don't want to see people die broke, in debt, and under-insured. If you really want to help families, why not become a CFP and get people the best rates and best advice on policies, home loans, and debt restructuring? You could follow the same path you do at Primerica, but REALLY help people.
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#64 UPDATE EX-employee responds

Edgar (La Habra)

AUTHOR: Stuart - (U.S.A.)

You stated, "...though all the naysayers made it sound like ________ charged the highest premiums in the world...." This website gets a bunch of shillers pretending to be spokespersons for Crimerica saying that their term insurance is not expensive at all.

"PFS charges more than many of its competitors in the term market, but consumers seem willing to pay for what they perceive as better service, Albanese said. Even Travelers, its sister company, charges less for term products. At a time when competition is driving down term prices, Albanese said, Primerica has not been forced to solely compete on price."

"'If you can't be the cheapest term insurance in town -- because we have a lot of people to pay because of the hierarchical structure -- then you'd better provide value to people or they're not going to pay what you charge,' Plumeri said."
(Plumeri was the former head of Crimerica - unfortunately he doesn't explain what that value is).

"Despite its high prices..." So Edgar check this for yourself at that website. Why would Crimerica
make such statements? (I only want to hear what Edgar thinks, no one else).
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#65 Consumer Comment

Edgar

AUTHOR: Leroy - (U.S.A.)

Yes, there are some companies that charge more than primerica for term insurance. The question is why would anyone pay more for term insurance
than is necessary when the very highest rated companies offer it for less, and have better conversions options to boot.

To use your Toyota Camry metaphor if you could pay less for a Camry with air conditioning why in the world would you pay more for a Camry without air from a different dealership.

Term insurance is very cheap right now. If you're working on a tight budget why get $250,000 for $30 a month from one company when that same $30 would buy you $375,000 from another? If you die that $125,000 would make life a heckuva lot better for your survivors.
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#66 Consumer Suggestion

Response to quotes

AUTHOR: Edgar - (U.S.A.)

Leroy- I will agree with you that it is best to shop and that goes for any type of purchase. When I first posted on this site though all the naysayers made it sound like Primerica charged the highest premiums in the world and I have come to see that it is not necessarily true. I am not saying that there isn't some insurance company that would charge less. I mean you can get the same exact toyoya camry for a much different price from one dealership to another. If I had just taken the words of some of the naysayers on this site it could have costed me anywhere from $200 to $500 bucks a year. This is a suggestion that my dad gave me and it was that no matter what primerica might say don't put all of your eggs in one basket. So if you put some retirement away with them than you should also try to put some away somewhere else as well.
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#67 Consumer Comment

primerica quotes

AUTHOR: Leroy - (U.S.A.)

Since we don't know what ages Edgar was using all I could do was use a 40 year old to see how primerica stacked up.

For $250,000 on men there were 12 companies with lower premiums than primerica....as much as 30% lower. All of them guaranteed both the premium and the death benefit for the entire 30 years. I've never had a primerica agent tell me if the primerica product is guaranteed for the full 30. There is a substantial difference in premium for products with that guarantee.

On a 40 year old woman primerica is so grossly overpriced that the opposite was true. There were only 14 companies out of almost 500 that were higher than primerica.

No one else sells a 35 year term policy so my guess is Edgar's quote that primerica was $10 a month less was comparing their 35 year term policy to a universal life policy (with cash values) designed to run for 35 years.

primerica term is simply overpriced and doesn't compete well. Thats why they have chosen having your cousin sell it to you as the only way to get it sold. Other companies have overpriced term too......what they offer is convenience, conversion to a good whole life or universal life later if necessary, and an agent who handles all your needs.

Either way it makes no sense to purchase too expensive term insurance. When the difference in coverage between one company and another can be $100,000 for the same premium it really pays to shop.
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#68 Consumer Suggestion

Still looking for a top notch comp that will sell term for less

AUTHOR: Edgar - (U.S.A.)

I've been on this thread for quite some time now and I actually went to two supposedly top notch life insurance companies on Friday. If Primerica is so expensive I didn't see it that way. I was quoted a 30 yr term at 250K for $58.90 a month at one and the same conditions for $60.20 a month at the other. It just seemed funny that with

Primerica I was quoted a 35 yr term for the same amount for $10.00 less per month and a lot of you have stated how overpriced they are. I mean I can see the frustration in all of you who have gone to work for them and someone else takes the commission that you helped provide a lead for, but isn't that kind of like starting at the bottom and working your way up. Just a thought.
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#69 Consumer Comment

Primerica is the amway of insurance

AUTHOR: J - (U.S.A.)

If you are looking to be fooled out of your time and money, then join up with primerica. It is a feel good, get rich quick scheme that doesn't work. The company is always 'hiring' and they'll take any idiot that walks in from the street, as long as they're not a felon! Oh yeah....I'd love to invest my money with some guy from Primerica that tells me that my buddy who got a degree in finance and works for A.G. Edwards doesn't know anything about investments.

LETS DO SOME MATH...650 million paid out this last year(all numbers are gross) by citigroup divided by 120k reps = $5412 per year. Ok ok, lets say HALF the reps don't do anything = $10,824 per year. But wait, what about the folks who make over 100k? So that leaves about 400 mil divided by 116000 reps minus the HALF that sit on their butt = $6,897 per rep per year.
WOW looks like an opportunity to me. Well not really. You see at minimum wage in this great state of Oregon is 7.50/hr. Working 'parttime' (as Primerica loves to call their new 'business owners')30 hrs a week at McDonalds will get you $11700 for that year. THAT SURE BEATS WORKING 'parttime' FOR A PYRAMID SCHEME!! Well no wonder the illigals in my town aren't rushing into this 'opportunity,' they are better off taking my order at the drive-thru.

This organization looks for anybody to join because that means sales and commission for them. They tap into your friends and family and suck every last lead out of you. People last a few months in this hyped up business only because of the false hope that it brings. I dealt with this company in 1998 when they tried to give me an 'opportunity.' The opportunity was only for them, the folks at the top of the pyramid. At least in other pyramids you won't be sold highly important life changing products from a bunch of high school dropouts.

You are better off signing up for $199, get your license, and go work for Allstate. The only deal that they offer is the cheapest way in town to get licensed!
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#70 UPDATE EX-employee responds

Responding to Paul (Brooklyn)

AUTHOR: Stuart - (U.S.A.)

Quoting:

"We are a full service company..." How can you claim that when you only sell a very expensive term policy and you can't offer other life insurance policies?
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#71 Consumer Comment

I'm here to fight profiteers too

AUTHOR: Leroy - (U.S.A.)

I'm here to fight people wanting to profiteer from an unsuspecting public too.

I want to fight those people that charge too much for term insurance.

I want to fight people who charge women so much for term insurance they could have purchased a cash value insurance policy for the same premium with a higher rated company.

I want to fight profiteers who tell unsophisticated prospepective borrowers;
< simple interest saves lots of money over scheduled interest
< a 7.75% loan paid bimonthly can save lots of money over a 6% loan because we're the only ones who will do that

Yep...I want to fight the profiteers at primerica who couldn't sell their lousy products unless they used the MLM approach in which people are convinced to buy and sell crappy products so they can be on a caribbean beach raking in $$$.
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#72 UPDATE Employee

Mike Good Start

AUTHOR: Paul - (U.S.A.)

To all the jerks and those who are profiteers off the unsuspecting public.

It's been over a year since I posted here. That's because I don't have the time (as I make money --thank you-- and build my business) to repeat over and over the same responses to negativism -- and to rebut the small group that lives only to post here.

Mike tells about the silliness of your posts. Good job Mike. Especially about the suits. There is so much lying on this site by those who hate us.

Do we have the cheapest pricing -- NO.

But we do provide more service than most of the negative posters here do. We are a full service company, and like most full service companies, there are some extra charges inherent in the pricing.

OK. I see nothing has changed. Those that hate us still do. Those who failed still blame us and not themselves. And those who are losing money to us still lie outright on this site.

So I will continue to make money. I will continue to replace the "bad" policies. I will still continue to help families get their financial act together.
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#73 UPDATE Employee

Mike Good Start

AUTHOR: Paul - (U.S.A.)

To all the jerks and those who are profiteers off the unsuspecting public.

It's been over a year since I posted here. That's because I don't have the time (as I make money --thank you-- and build my business) to repeat over and over the same responses to negativism -- and to rebut the small group that lives only to post here.

Mike tells about the silliness of your posts. Good job Mike. Especially about the suits. There is so much lying on this site by those who hate us.

Do we have the cheapest pricing -- NO.

But we do provide more service than most of the negative posters here do. We are a full service company, and like most full service companies, there are some extra charges inherent in the pricing.

OK. I see nothing has changed. Those that hate us still do. Those who failed still blame us and not themselves. And those who are losing money to us still lie outright on this site.

So I will continue to make money. I will continue to replace the "bad" policies. I will still continue to help families get their financial act together.
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#74 UPDATE Employee

Mike Good Start

AUTHOR: Paul - (U.S.A.)

To all the jerks and those who are profiteers off the unsuspecting public.

It's been over a year since I posted here. That's because I don't have the time (as I make money --thank you-- and build my business) to repeat over and over the same responses to negativism -- and to rebut the small group that lives only to post here.

Mike tells about the silliness of your posts. Good job Mike. Especially about the suits. There is so much lying on this site by those who hate us.

Do we have the cheapest pricing -- NO.

But we do provide more service than most of the negative posters here do. We are a full service company, and like most full service companies, there are some extra charges inherent in the pricing.

OK. I see nothing has changed. Those that hate us still do. Those who failed still blame us and not themselves. And those who are losing money to us still lie outright on this site.

So I will continue to make money. I will continue to replace the "bad" policies. I will still continue to help families get their financial act together.
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#75 Consumer Comment

Jonathan...you missed the bashing?

AUTHOR: Leroy - (U.S.A.)

Apparently you didn't read many posts because the products primerica sells have been bashed here plenty....and with good cause.

The term insurance is very overpriced for males and unconscionably overpriced for females. For females, the term rates primerica charges are so bad that they can go ouit and buy cash value insurance with many otrher companies for the same premium.

The primerica not-so-SMART loan is horrible. On a $250,000 loan over twenty years your average middle class family will pay about $85,000-90,000 more in interest than they would had they taken the same lending qualifications to another lender. All the crap about simple versus scheduled interest, biweekly payment plans, "interest rates don't matte"r is just that....crap. Its all smoke and mirrors designed to take the consumers focus away from the mush higher intyerest rate primerica will saddle them with than they could have qualified for elseweher. Its all designed to take advantage of unsophisticated consumers. You can read a book called Mortgages by Fitsgerald that devotes a chapter to mortgage scam,s and the chapter sounds exactly like the primerica canned mortgage sales pitch.
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#76 Consumer Comment

Jonathan...you missed the bashing?

AUTHOR: Leroy - (U.S.A.)

Apparently you didn't read many posts because the products primerica sells have been bashed here plenty....and with good cause.

The term insurance is very overpriced for males and unconscionably overpriced for females. For females, the term rates primerica charges are so bad that they can go ouit and buy cash value insurance with many otrher companies for the same premium.

The primerica not-so-SMART loan is horrible. On a $250,000 loan over twenty years your average middle class family will pay about $85,000-90,000 more in interest than they would had they taken the same lending qualifications to another lender. All the crap about simple versus scheduled interest, biweekly payment plans, "interest rates don't matte"r is just that....crap. Its all smoke and mirrors designed to take the consumers focus away from the mush higher intyerest rate primerica will saddle them with than they could have qualified for elseweher. Its all designed to take advantage of unsophisticated consumers. You can read a book called Mortgages by Fitsgerald that devotes a chapter to mortgage scam,s and the chapter sounds exactly like the primerica canned mortgage sales pitch.
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#77 Consumer Comment

Jonathan...you missed the bashing?

AUTHOR: Leroy - (U.S.A.)

Apparently you didn't read many posts because the products primerica sells have been bashed here plenty....and with good cause.

The term insurance is very overpriced for males and unconscionably overpriced for females. For females, the term rates primerica charges are so bad that they can go ouit and buy cash value insurance with many otrher companies for the same premium.

The primerica not-so-SMART loan is horrible. On a $250,000 loan over twenty years your average middle class family will pay about $85,000-90,000 more in interest than they would had they taken the same lending qualifications to another lender. All the crap about simple versus scheduled interest, biweekly payment plans, "interest rates don't matte"r is just that....crap. Its all smoke and mirrors designed to take the consumers focus away from the mush higher intyerest rate primerica will saddle them with than they could have qualified for elseweher. Its all designed to take advantage of unsophisticated consumers. You can read a book called Mortgages by Fitsgerald that devotes a chapter to mortgage scam,s and the chapter sounds exactly like the primerica canned mortgage sales pitch.
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#78 UPDATE EX-employee responds

Another pack of lies by Crimerica's whipping boy Jonathon (Westbury)

AUTHOR: Stuart - (U.S.A.)

Quoting:

"To the pyramid comment in reality all sales
position in almost in any buisness works that
way..." Focusing on the insurance industry, only a handful of companies such as Crimerica and the Torchmark group operate that way. Companies such as MetLife, Prudential and even Crimerica's affiliate, Traveler's, don't use a pyramid scheme. The way Crimerica is set up, frontline agents get at most 25% commission while competing agents get around 75% to 80% commission, furthermore Crimerican agents, to make those "six-figured incomes" must depend on a downline through recruitment efforts.

"i also was a loan officer i had my account
manager and he had his boss and there was the
owner that an example of a pyramid in realestate
and it's used in many company's yet no other
company is mention." Loan officer where? Did your commission from your own sales depend upon a downline? Give us a breakdown with documentation.

"Since i've been working for
them i've help many families understand there
financial situation i've showed them pointers on
investment and many other things becuase to many
might not know they had options in how to use
there money and have work for them ." What training has Crimerica given you out of their pocket? What degrees do you hold? (do document
please - btw your spelling is terrible and I can't
believe you were a loan officer).

"...is a great opportunity..." Over 100,000 disgruntled agents from Crimerica per year would disagree with that.

I'll be looking for your float at the Thanksgiving
day parade. In the meantime drill this into your
brain shiller:

"Victim of a consumer Rip-off? Want justice? Rip-off Report? is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#79 UPDATE Employee

Two sides to a coin

AUTHOR: Jonathan - (U.S.A.)

Hey i've read many of the comments so i felt i
should share my opinion. I just began working
with the company i've been to most of the
meeting and never heard anyone say "AMEN". To
the pyramid comment in reality all sales
position in almost in any buisness works that
way i also was a loan officer i had my account
manager and he had his boss and there was the
owner that an example of a pyramid in realestate
and it's used in many company's yet no other
company is mention. Since i've been working for
them i've help many families understand there
financial situation i've showed them pointers on
investment and many other things becuase to many
might not know they had options in how to use
there money and have work for them . I've have
nothing against other company's please dont take
anything i say the wrong way. For some people
this is not the line

of work for them all i read is basically a

bashing on the recruitment style the company

uses and nothing on the products they have and

given to people out there. I myself learned many

things that i did not know i could do. this for

me was and is a great opportunity i've grown as

an individual and i feel great when i know that

i educated another family in there situation

like i always say there two sides to a coin i

repeat again this line of work is not for

everyone and people might not like the fact that

this is how sales work so instead of looking

just at primerica look at other company's as

well and you will see there's not much in

difference. I cant account for other members in

the company just for myself and the things i've

done and seen.I know for a fact i've always been

sincere with my clients in all aspects of my

work expierence in sales. Hopefully this opinion

is able to shed some light on the situation.

Sometimes one has to see the whole picture and

not just what in front of them.
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#80 Consumer Comment

Mike in Belleville

AUTHOR: Leroy - (U.S.A.)

Mike suggests some reading for us. I have some for him. 10 Things You Need To Know About MLMs by Fitzpatrick, or How To Be Your Own Banker by Nelson Nash.

As far as the CEO of Compulife, he is a very nice person. I subscribe to the service he sells which tracks the term rates of almost 600 companies. It may influence his opinion.

My take on the whole life vs term debate is its silly. Both have their place. What happens is you get some people who think one if always superior to the other so both types of insurance get sold in inappropriate situations.

My advice; If anyone wants to talk to you about life insurance ask one simple question. "What's better...whole life or term?" If the first answer they give is anything other than "It depends" run as far as you can as fast as you can. If you don't you are about to be subjected to a canned sales pitch designed by some insurance company marketing department.
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#81 Consumer Suggestion

Response to Mike in Canada

AUTHOR: Edgar - (U.S.A.)

Hey Mike, Well put!!
Thanks for your intelligent insight.
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#82 UPDATE Employee

Personal Disgust with comments on both sides

AUTHOR: Mike - (Canada)

I have been a represenative of Primerica for just over 2 years now. And in my time have heard a lot of bad things on this company I have had to defend myself on, and equally bad things of other such companies as well. Yet this is the first time I have seen things so badly blown out of proportion... on both sides I regret to say.

First off as for the original message I found it a little disturbing but mostly amuzing. I did not find the original message to be racist though so lets clear that up now. Also I will have to indulge the idea of our company sometimes seeming to be a little cult like but I assure you we are not and that it is only in a matter in which we are all able to participate and enjoy and nothing more then that.
Secondly when it comes to these so called law suits I to have done some investigating and thought you may find it interesting to know that not even one large financial company nor institution in either the USA or Canada has ever not been attempted to be suited for some action or another. Also that Primerica has never been suited or convicted in any court in the world to date. Also I should remind our original writter that it is in fact illegal to even make such claims without a link to such information otherwise it is called misrepresentation and slanderous.. both of which are obviously illegal. But that is also no matter to me honestly.

As to those of you out there who have seen bad representation of this company I would like to offer my personal apologies for this and assure each of you that we do not all conduct ourselves in such ways. Alas we like all companies have our good and bad people. Though I will not stoop to the level of telling someone else how to run there business. For I may also point out that we are each individualy contracted do we are in essence each our own company. SO how one decides to do there business is not necessarily how we all do it.

Personally as I said have been in the business for almost 2 years and have gained in that time a healthy clent base of my own... yet only in the last 2 months have I personally started recruiting. You see my RVP reccomended getting to know the business first before building a full one of my own... advice to which I adhered to completly. Now that I have gained a firm knowledge of the products we offer and other things in this field as well I am now looking to expand business and recruit good people to do the same.

As for the gentlman who complained that we do not offer other types of Life Insurance other than Term... well he is entitled to his opinions. But I would recomend such books as "The Million Dollar Barber", "The ABC's of Making Money", oh hell and for something more recent check out a 4 part article in "Canadian Money Saver ... titled The Great Debate-Term vs Whole Life" written by the CEO of compulife... not in anyway affiliated with Primerica are any of these and see what there views on this are.
We in Primerica do in fact believe in helping people achieve financial security and worth. One way we do this is simply put Buy Term invest the rest. Also through our FNA which once again we offer for free. Oh and what do we charge our clients... oh yeah nothing. We work strictly on referal basis as to make it affordable for our clients. We focus on the middle income families who fir the most part are ignored in this business. So yes I am comfortable saying we do whats right for our clients.

Also I would like to say to my fellow represenatives to take the higher ground here and please stop attacking the respondents in here. As we all know everyone is entitled to there opinions and we as upstanding citizens should respect that. Please do not misinterpret and feel free to defend yourself in here, but do not take these comments personaly and attack the issuer of those comments. In all aspects of our business it is a matter of repect and dignity in the highest regards. Something in which we must adhere to everyday both in places like this and in person if you really want posts like this to stop.

I do sincerely hope I did not offend anyone, and better still showed some people out there that our company (Primerica) is one of good moral standing and respect.

Thanks you,
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#83 Consumer Comment

Upset friend

AUTHOR: Chris - (Canada)

I've got a friend who just joined crimerica. we both just graduated college together, and I found a job rather quickly, and he wasn't so lucky. He was always looking in the paper and he saw an advertisement saying, great opportunity all training provided. So he went to see what it was all about.

The guy that was doing the recruiting, told him that it would be $200 for his "independent business licence".

At first he was skeptical, as was I, but he went for a recruiting seminar, and he was all of a sudden hooked. He ended up totally signing up, and becoming totally consumed by it.

He's been doing this for almost two months now, been to numerous training sessions, working roughly 20-30 hours a week at it, he's made 3 or 4 sales, all of which his boss and his 5 superiors have made comission off of, and he has not made a dime. Not a single dime. He can't make anything until he passes the governemt exams set out for selling insurance and mutual funds, and his whole life he has not been great at testing and things like that, so he's having a hard time with that, but, they're not stopping him from getting them rich(bosses).... To keep him interested, his boss took him out to The Keg, for all the work he's done, but again, as i've said, after working for about 200 hours at a job, he hasn't made any return for his hard work. And i guarantee this happens to hundreds of people that try to work for Primerica, and every single person that has failed, has made their recruiters good commission.

His bosses and coworkers, are leading him to believe that he will be very wealthy if he keeps working at this job, dangling the buck in front of his face, and he keeps getting more and more excited. They take him to seminars to meet multi million dollar earners, and lead him to believe that he can be there one day. Out of 100,000 primerica employees i believe there are roughly a handful of million dollar earners. Out of that 100,000 there are 94,000+ employees that make less than 50,000.

I also went and sat in on one of these recruiting sessions, and the thing they try and do, more than anything else, is brain washing.
The guy that was giving the presentation said that he was in the middle of a 3 year diploma program and said he was sick of school and saw the add for Primerica and got into it. Really great guy to have as a boss don't you think? The whole point of the presentation was to try to appeal to people that don't want to go to college, don't want to work 40 hours a week, don't desire things like health benefits if you will. I thought it was a joke.

I would have to say that about 75% of the things i've heard about Primerica, are negative, the only people i've heard positive things from, are employees trying to defend their company and get another client.

I'm kinda sick of seing my buddy get ripped off, for his time and his work, and i'm sure there's tons more out there that aren't seeing the thing's i am.
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#84 Consumer Suggestion

Primerica, Most Aggressive

AUTHOR: Anne - (U.S.A.)

I just got a call this afternoon from the company in question. They found me on monster. The man on the phone didn't actually answer any questions, but did say that he noticed I did not have a background in their line of work.

He also made sure to ask if I was willing to keep my career options open. I agreed to go to the meeting, but probably will not attend, as I have better things to do.

I am a horrible saleswoman, tried it time and time again.

I think the best way to avoid being "recruited" is to keep your information hidden when you post to one of those job matching sites out there. You send your information where you want it, when you want it there and no one else has it.

Thus ends the resulting aggressive, almost harassing phone calls and every day annoyance.

Also, I have noticed that the responses to the original report have been rife with errors from people claiming to represent this company on a very high level.

Primerica, that does not look good for you when people look you up after you make a recruitment call.

Please take care to put your very best foot forward when you recruit, rebutt and orient.
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#85 Consumer Comment

Sales is Exactly what it is ....

AUTHOR: Leshon - (U.S.A.)

I was looking over some of the post, on this subject .currently I have a health and life, series 7, and series 63, and I have sold all kinds of securities in my life and the one thing that I learned is that in MOST sales business not all. There is always going to be some kind of fraudulent activity involved. All you can do as a sales person is try and separate yourself from that and make your money even if it is an MLM, TELEMARKETING-BOILER ROOM, or whatever . And for the record all of these companies claim to help there clients if they didn't how they would stay in business, what you younger reps have to learn is that. There will come to a point where you will need to separate your heart from your pocket. Because there is no way in any company that every client will be happy with
The company service.

Best of Luck ..
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#86 Consumer Comment

Sales is Exactly what it is ....

AUTHOR: Leshon - (U.S.A.)

I was looking over some of the post, on this subject .currently I have a health and life, series 7, and series 63, and I have sold all kinds of securities in my life and the one thing that I learned is that in MOST sales business not all. There is always going to be some kind of fraudulent activity involved. All you can do as a sales person is try and separate yourself from that and make your money even if it is an MLM, TELEMARKETING-BOILER ROOM, or whatever . And for the record all of these companies claim to help there clients if they didn't how they would stay in business, what you younger reps have to learn is that. There will come to a point where you will need to separate your heart from your pocket. Because there is no way in any company that every client will be happy with
The company service.

Best of Luck ..
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#87 Consumer Comment

Sales is Exactly what it is ....

AUTHOR: Leshon - (U.S.A.)

I was looking over some of the post, on this subject .currently I have a health and life, series 7, and series 63, and I have sold all kinds of securities in my life and the one thing that I learned is that in MOST sales business not all. There is always going to be some kind of fraudulent activity involved. All you can do as a sales person is try and separate yourself from that and make your money even if it is an MLM, TELEMARKETING-BOILER ROOM, or whatever . And for the record all of these companies claim to help there clients if they didn't how they would stay in business, what you younger reps have to learn is that. There will come to a point where you will need to separate your heart from your pocket. Because there is no way in any company that every client will be happy with
The company service.

Best of Luck ..
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#88 Consumer Comment

Sales is Exactly what it is ....

AUTHOR: Leshon - (U.S.A.)

I was looking over some of the post, on this subject .currently I have a health and life, series 7, and series 63, and I have sold all kinds of securities in my life and the one thing that I learned is that in MOST sales business not all. There is always going to be some kind of fraudulent activity involved. All you can do as a sales person is try and separate yourself from that and make your money even if it is an MLM, TELEMARKETING-BOILER ROOM, or whatever . And for the record all of these companies claim to help there clients if they didn't how they would stay in business, what you younger reps have to learn is that. There will come to a point where you will need to separate your heart from your pocket. Because there is no way in any company that every client will be happy with
The company service.

Best of Luck ..
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#89 Consumer Suggestion

To Stuart

AUTHOR: Edgar - (U.S.A.)

Well then that is good for you Stuart. If you are doing good things in the world, great. I know I am and will continue too. I made up my mind about whether or not I will join Primerica and to be honest I do not feel that I need to answer that with any of you. I checked this website too see what it was people hate about them. Jay, Leroy, and yourself had very good illustrations of the company, and than someone like Dave came on and had some good rebuttles. So I know that with this rebuttle the three of you will probably call me a moron and a shiller and all that crap even I did not answere so go right ahead. I look forward in your response and will then decide if it is worth my time to proceed seeking any type of information from you guys again. As you can see I have not insulted any of you with this response so I ask for the same respect.

Thanks for your time and insight. You guys offered both negative and positive information of the company.
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#90 Consumer Suggestion

To Stuart

AUTHOR: Edgar - (U.S.A.)

Well then that is good for you Stuart. If you are doing good things in the world, great. I know I am and will continue too. I made up my mind about whether or not I will join Primerica and to be honest I do not feel that I need to answer that with any of you. I checked this website too see what it was people hate about them. Jay, Leroy, and yourself had very good illustrations of the company, and than someone like Dave came on and had some good rebuttles. So I know that with this rebuttle the three of you will probably call me a moron and a shiller and all that crap even I did not answere so go right ahead. I look forward in your response and will then decide if it is worth my time to proceed seeking any type of information from you guys again. As you can see I have not insulted any of you with this response so I ask for the same respect.

Thanks for your time and insight. You guys offered both negative and positive information of the company.
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#91 Consumer Suggestion

To Stuart

AUTHOR: Edgar - (U.S.A.)

Well then that is good for you Stuart. If you are doing good things in the world, great. I know I am and will continue too. I made up my mind about whether or not I will join Primerica and to be honest I do not feel that I need to answer that with any of you. I checked this website too see what it was people hate about them. Jay, Leroy, and yourself had very good illustrations of the company, and than someone like Dave came on and had some good rebuttles. So I know that with this rebuttle the three of you will probably call me a moron and a shiller and all that crap even I did not answere so go right ahead. I look forward in your response and will then decide if it is worth my time to proceed seeking any type of information from you guys again. As you can see I have not insulted any of you with this response so I ask for the same respect.

Thanks for your time and insight. You guys offered both negative and positive information of the company.
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#92 Consumer Suggestion

To Stuart

AUTHOR: Edgar - (U.S.A.)

Well then that is good for you Stuart. If you are doing good things in the world, great. I know I am and will continue too. I made up my mind about whether or not I will join Primerica and to be honest I do not feel that I need to answer that with any of you. I checked this website too see what it was people hate about them. Jay, Leroy, and yourself had very good illustrations of the company, and than someone like Dave came on and had some good rebuttles. So I know that with this rebuttle the three of you will probably call me a moron and a shiller and all that crap even I did not answere so go right ahead. I look forward in your response and will then decide if it is worth my time to proceed seeking any type of information from you guys again. As you can see I have not insulted any of you with this response so I ask for the same respect.

Thanks for your time and insight. You guys offered both negative and positive information of the company.
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#93 UPDATE EX-employee responds

To set the record straight with Edgar (La Habra)

AUTHOR: Stuart - (U.S.A.)

Leroy is an independent agent so he's not tied down with any company, I'm not working in the insurance industry. With Jay I'll let him speak for himself.

With you, you're in league with the devil (Crimerica). I know that me, Leroy and Jay will go with a clean record and clear conscience. So Edgar, when will you come clean?
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#94 UPDATE EX-employee responds

To set the record straight with Edgar (La Habra)

AUTHOR: Stuart - (U.S.A.)

Leroy is an independent agent so he's not tied down with any company, I'm not working in the insurance industry. With Jay I'll let him speak for himself.

With you, you're in league with the devil (Crimerica). I know that me, Leroy and Jay will go with a clean record and clear conscience. So Edgar, when will you come clean?
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#95 UPDATE EX-employee responds

To set the record straight with Edgar (La Habra)

AUTHOR: Stuart - (U.S.A.)

Leroy is an independent agent so he's not tied down with any company, I'm not working in the insurance industry. With Jay I'll let him speak for himself.

With you, you're in league with the devil (Crimerica). I know that me, Leroy and Jay will go with a clean record and clear conscience. So Edgar, when will you come clean?
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#96 Consumer Suggestion

Everyone with Primerica

AUTHOR: Edgar - (U.S.A.)

Hey guys don't answer to these guys anymore it just makes the company look bad. Let them put there blog of blah, blah, blah and just get out there and show people that great things that the company does. So to all of you at Primerica: KEEP UP THE GOOD WORK.

To Stuart, Jay, and Leroy you guys keep up the good work as well. I will say that you are making your voices heard and if you feel that you are doing someone some good than you can rest easy, but if you are ripping people off as you claim Primerica is than you have to live and die by it and a higher power will deal with that.


Good luck to all of you!
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#97 Consumer Suggestion

to stuart ( and Leroy)

AUTHOR: Jay - (U.S.A.)

please accept my apology. i never meant to insinuate that Leroys rebuttals to the shillers are worthless or meaningless. to the contrary, my only point ( and you guys know this better than anyone) was that these braindead zombies ignore your facts and post the same ole b.s from the crimerica playbook. in fact, i tune into this site each evening after opening my beverage of choice in order to read (and occasionally contribute to ) tearing these crimerica koolaid drinkers to pieces. keep up the good work, cheers, jay
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#98 UPDATE EX-employee responds

To Jay (Little Compton)

AUTHOR: Stuart - (U.S.A.)

I don't regard Leroy's post are worthless, regardless of the effect it has on Crimerica's shillers such as Dave.

Since RipoffReport.com is open to the world at large, then Leroy is helping those who are considering Crimerica, whether it be to join or enroll in an "investment" program, to see Crimerica for what it really is - a wolf in sheeps clothing.

There are a number of posts to this wonderful website where many thank RipoffReport.com for his posts and others.

Currently Crimerica is on the run. I have certain information that clearly shows this. I just wonder what the shillers will do when Crimerica goes under.

To all the shillers, remember this:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#99 Consumer Comment

What's right isn't always popular and what's popular isn't always right!

AUTHOR: N - (U.S.A.)

PRIMERICA... Scam, pyramid scheme?
If so, it's the 1st fully licensed, federally audited, with a publically traded and NYSE listed parent company, pyramid scheme in the world. Are there some scams out there and should you be careful? For sure. Is Primerica structured different than your job or your business? Probably. I've been an employee like the most of you and I've been a ?traditional? business owner like many as well. And in either case there's very limited room at the top. Every Department Store, Grocery Store, Post Office, Library, Restaurant, School, Bank and Church have a lot of people on the bottom and very few on top. Lot's of people are barely making it and a few people are MAYBE achieving their dreams. And for one of us to get to the top, it's usually at the expense of someone else. Someone has to die, retire, get fired, or quit for us to have a shot. I imagine you are all on this website offering your feedback and insight because you care. Right? I hope. So how about build people, care about people, and really love people. How about unite and win rather than divide and conquer? We're not talking rainbows and fairy dust. We're talking about uniting for a cause, doing what's right and giving people a shot. That's why I'm in Primerica.

And just a note... Primerica is actually a lot more like Real Estate than it is like a typical MLM. We have agents and a broker, a real office, real people, a VERY real service (I am sorry that not everyone is shown that), but the difference is you can earn your brokerage rather than just buying one. And as someone said earlier, college degrees and management experience doesn't put you at the top when you get here. But if you ARE all that, you should be able to get there anyway. The company doesn't look at someone's past (aside from legal issues of course), the company looks at your potential, your heart, your desire, your excitement to do something more with your life.

Is there a need for what we do and do we do what's right? I obviously wouldn't be here if I didn't passionately think YES! But I won't spend too much time on this issue because I don't think I need to.

Banks are in the debt business. If you pay off your loans they don't make any more money. They are not in favor of this. Who taught you to shop for lower rates? The banks. How come less and less people are paying off their homes and foreclosures are sky rocketing? Hmmm...
But they got a low interest rate... Maybe there's more to it than that. The banks have it figured out.

I'm not trying to bash on banks. I have checking accounts and banks are good for some things. Their purpose is NOT to get you Debt Free and Financially Independent though.

What interest do banks give on a typical savings account? 1%, 2%, 3%? What do these same banks charge as interest on the credit cards they issue? !7%, 18%? Does anyone reading this have a savings account and a credit card? Probably a lot of you. So they use YOUR money to collect at a HIGH interest rate and they pay you the LOW interest rate. The banks thank you.

What's the purpose of a life insurance agent? Is it to help you become Debt Free and Financially Independent so that one day you are in position to be SELF insured? Nope. They sell you life insurance. Have a nice day.

Investment firms help the rich, the Gov't helps the poor and the middle class is generally left to figure it out on their own. Schools teach the capitals of all fifty states and how long the Nile river is but not so much about how money works. People need help. Everything we teach I have implemented for my own family. And I'm sure you could improve your financial situation and have a bit more peace of mind if you just knew more. The Rule of 72 IS real and the Theory of Decreasing Responsibility is vital you understand.

By the way I looked up and found entries on this web site about The SALVATION ARMY, GOODWILL, The PUBLIC LIBRARY, The FIRE DEPARTMENT and The US ARMY just to confirm what I already knew... Some people will always find the bad in everything. It's sad. This country's not perfect, my marriage isn't perfect, I know your job's not perfect and Primerica isn't perfect. But it's a chance! A chance for someone with an average and ordinary background to do something great in their lives. And ?great? probably means something different to you... But does your job give you that chance? How's it going? Just like life, most people won't make it in Primerica. Just like life, 10% of the people will make 90% of the money. People won't tap into their potential, won't put in the hard work, won't be disciplined enough, won't be giving enough and persist long enough to make this work. Just like life. Will that be your life? I know I have a lot to improve on and I know my family's financial security is at stake. I know that average and ordinary isn't what I had always dreamed of. Just give me a chance!

WRITE BAD about us or whatever you're going to do, but PLEASE check out the HOW MONEY WORKS section of Primerica.com. Take the time to understand it and it WILL make a difference in your life.

And yet the laws of the universe will hold true again as those who need the most help will be the first to turn it down and discourage it. All I can do is all I can do. But I feel better now. And the BEST PART is that while most of you will bash, pick, tear apart, and look for fault as if there was a reward for it, at least 1 person is going to give Primerica another look... or is going to check out the website... or is going to give themselves and their family a chance to do something great... or maybe they'll just cut up their credit card. Maybe one person will begin to wonder if life is really all about being told how many sick days you can have, what time they need to leave their children to go to work, and how much they're worth. That's the best part. And that's why I'm in Primerica!
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#100 Consumer Comment

Jay

AUTHOR: Leroy - (U.S.A.)

But every time you or me or Stuart or Skull Pilot refute a shiller, fresh eyes who might be consideribg primerica see it for the first time.. I'll never convince a shiller, I know that. In 99.9% of the cases time will convince them I'm right. I'm not worried about them. I want to save someone either the emotional trauma of having to turn down their brother-in-law trying to make a new "career" or trying to save them 10s of 1,000s of dollars by demonstrating to them their brother-in-law is a brainwashed zombie with only 50% of the knowledge necessary to manage someone's finances.
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#101 Consumer Comment

Belated response for Dave

AUTHOR: Edwin - (Canada)

Dave,

Not that I do not want to reply your post. The last reply that I typed was never posted. I'll try to reanswer your questions.

To answer your question about your friend's gym: I have not talked to any members of your friend's gym, so I wouldn't know the exact reason why more of them choose not to go full time. However, I can make an educated guess that the main reason why they choose not to go full time is because they need to dediciate more time working and earning money. If they have all the money in the world and do not need to work, they can probably afford to spend more time in a gym and less time at work. However, since they don't, they need to spend time earning money. Developing a good fitness is not a necessity of life, but earning money is.

The gym analogy doesn't answer the question if Primerica is such a great opportuntiy, why wouldn't more reps choose to work full time. We're talking about earning money here. The only educated guess I can think of why more reps choose not to go full time is because it isn't a good opportunity to make lots of money (you can make a few bucks, but not necessarily a lot of money). Once again, if there are other reasons, please let me know. My mind is open and is willing to listen (but not neccessarily agree) to any explanations that are reasonable or are things that I've never thought of.

I've reread your earlier posts. My appologies for not reading it carefully enough and thought you've worked with Amway. However, you have attended an Amway meeting before (which I have not). Please educate me (when my friend's upline went to my home to do a FNA on me, he told me that one of Primerica's job is to educate others.) on your Amway experience. I am always under the impression that to succeed in Amway, you need to work very hard, must be very dedicated towards your work, and willing to do whatever it takes. You will also be told that if you follow the system, you will make it big in Amway. I thought in an Amway Opportunity meetings, they will tell you these things (correct me if I'm wrong). These things are so similar to how you've described what it takes to succeed in Primerica. How are Amway's promises to its sales force different from Primerica's? You too can't suceed in Amway if you're lazy or if you don't follow the system.

Of course, if you don't remember what Amways told you 12 years ago, or if you think you don't know enough about Amway to answer this question, that's understandable.

I knew that you didn't say "all". But since you were talking about the 80/20 rule earlier, and in the previous paragraph, you've described the type of people who can suceed in Primerica, "many" under this context can be interpretated as 80% of the people who are not being productive.

Your definition of "many" may be different from mine, but your statment that "many Primerica reps choose to watch TV instead of making appointment" is still a blanket statement. A lot of people make blanket statements all the time (eg. I've just made one), but when you accuse others of sounding silly for making blanket statements, shouldn't you be more careful in not to make any blanket statements yourself?
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#102 Consumer Suggestion

Leroy, give it up, your effort is worthless

AUTHOR: Jay - (U.S.A.)

your argument with an imbecile shiller like Dave from el cajon reminds me of trying to convince my 9 year old that Oreos arent his most healthy option for breakfast. I know im right, you know im right, and anyone with an IQ over 100 knows im right, but all my son knows is that Oreos taste good. Dave the Dingleberry from el cajun "knows" crimerica is "backed by Citigroup", he knows that his term insurance provides better value (whatever the hell that means) than the substantially lower priced A++ rated competition, he knows interest rates dont matter, only time in debt matters, he knows that on the rare occasion you sell whole life it is because commissions are so much higher, he knows crimerica is the only company that provides a free FNA, he knows his brilliant RVP in the Bert Convy era leisure suit understands finances much better than any CPA, CFP, or JD like myself. in short, dave "knows" shi t!
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#103 Consumer Suggestion

Leroy, give it up, your effort is worthless

AUTHOR: Jay - (U.S.A.)

your argument with an imbecile shiller like Dave from el cajon reminds me of trying to convince my 9 year old that Oreos arent his most healthy option for breakfast. I know im right, you know im right, and anyone with an IQ over 100 knows im right, but all my son knows is that Oreos taste good. Dave the Dingleberry from el cajun "knows" crimerica is "backed by Citigroup", he knows that his term insurance provides better value (whatever the hell that means) than the substantially lower priced A++ rated competition, he knows interest rates dont matter, only time in debt matters, he knows that on the rare occasion you sell whole life it is because commissions are so much higher, he knows crimerica is the only company that provides a free FNA, he knows his brilliant RVP in the Bert Convy era leisure suit understands finances much better than any CPA, CFP, or JD like myself. in short, dave "knows" shi t!
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#104 Consumer Comment

Dave in El cajon

AUTHOR: Leroy - (U.S.A.)

What I do know is if you Google primerica RIPOFF REPORT pops up right away.

I do know is that after chiding you for almost 2 weeks you finally decided to ask what a Net Loan Rate is and you came up with an synonymous term. However, you not only did you still not explain it you made the same erroneous analogy a paragraph later. That leads me to believe your leisure suited RVP that you asked really didn't know the answer either.

You said something about "my philosophy". I assume you were making some attempt to tie me in with those few relics of the past that try to sell cash value insurance as the primary means to save for retirement. Incorrect.

My philosophy is that when I meet a clent the first time I have an empty notepad in front of me and I listen. I don't go armed with a canned sales pitch the marketing department labels Financial Needs Analysis, which is designed to solve all problems with the same solution regardless of whether they fit.

My philosophy is also that once the problem and the solution have been determined I seek out the best possible deal for my client in the marketplace. I ignore marketing departments. Thay all say the same thing anyway. We're No. #1 because blah blah blah. Rather than fall for it, I make my own determination. To put my money where my mouth is I pay for a premium tracking service that gives me the rates for 600 companies and updates them bi-monthly.

I agree, the front loading between a mutual fund and a life policy are very different. A mutual fund front loads from day #1 and never ever stops. By the way, you never addressed this question either........is the money in a mutual fund government guaranteed like the cash values in a life insurance policy are? A simple yes or no will do.

When you tried to make fun of the concept of having a death benefit in place for life you said I sounded like a "termite", (which is insider jargon for a person who believes in term insurance.) I am a termite. I sell term 90% of the time. However, there are times when term doesn't do the trick. In some of those times the cash values ARE irrelevant to the client. I'll repeat because obviously you didn't understand it the first time........"in essence the client is buying term insurance to age 100, or 120 in the new policies". The cash values are meaningless to this type of client. All he wants is a policy he will die with at the lowest possible premium. I can do that for him, you can't.

Lastly, even though I don't believe in funding retirement or college with cash value policies, I do think they can be a portion of the overall portfolio. They will give a client a NET return similar to municipal bonds, have better taxation, and be government guaranteed.
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#105 UPDATE Employee

Edwin, Leroy

AUTHOR: Dave - (U.S.A.)

Wow, you must see me as quite a formidable adversary Leroy, seeing as you put considerable effort into you responses. I feel honored.

I'm sure that most of you ROR readers have noticed (he makes it painfully obvious) how Leroy only addresses about 10% of my posts? Super easy for you to pick and choose, I know, but you really should try harder to discredit me if you intend build any sort of real credibillity around here. My favorite is that you stay miles away from my telling everyone to google "term vs. cash value". Tell me, Have YOU done that yet? When you do, tell me what you find (or more importantly, how many articles you had to search through that support 'buy term and invest the difference' to find a few that support your philosophy).

First of all, I am not part-time. Second, your net rate loans, or your fancy term for a "wash loan"--of course I know of these. But thank you for trying to sound all fancy about them...you must do a great job of confusing your clients. Selling a high-priced VUL must be a walk in the park for you.

Also, as far as front-loading goes, your comparing the MF to whole life is like comparing apples and oranges. While they are BOTH front-loaded, you don't have to borrow your money from the MF in the form of a policy loan.

Speaking of discrediting; Leroy says:
"Dave asks how many policies have I seen with Option B on them. It doesn't matter. Its a dumb question that demonstrates Dave's lack of knowledge about cash value products and their best use. This is why it doesn't matter;
a.) if the client is concerned with the cash values, like a small businessman using a policy as a temporary tax haven for moneys in a good year, he will opt for Option B. He wants his cash value back, however;"

(and this is where it gets good, folks)

"b.) if the policy is designed to provide a constant death benefit until the client dies, then the cash values become irrelevant and Option A is chosen because it will provide the lowest possible premium to achieve that goal. Option B is not better than Option A or visa versa. They are just different."

Wow. Did you really just write that!? You sound like an A.L. Williams 'Termite'! Do you realize that you said that the cash value is irrelevant in that cash-value policy? Why not have term then for much less premium? And BTW, as far as catagory A is concerned--WHO IN THEIR RIGHT MIND WHO BUYS A CASH VALUE POLICY ISN'T CONCERNED WITH THE CASH VALUE?!? That's just got to be the dumbest thing I've ever heard.

Now onto Edwin.

Did you even READ my posts? I was NEVER involved with Amway. Go back and re-read it for yourself.

You say: "You then said "the fact that many agents in PFS choose to watch TV instead of make a call to set up an appointment" ... How would you know about that? Did you too speak to all 125,000 reps to find this out?"

Here comes you IQ test: Did I say "all"? I believe, yeah, I sure did say 'many'. 'Many' is completely up to interpretation, and it's not my fault that you interpereted to mean 'all' of them.

Then you say: "Similary, there can be many reasons why people aren't making as much money in Primerica. How would you know "The ONLY reason people don't make money in PFS is because they CHOOSE not to"? When you don't interview all the reps from Primerica who aren't making money, wouldn't your statement sound like a 'blanket statement' as well?"

OK, here I don't need to generalize. This statement is FACT. If you WANT to make money at Primerica, then you can. Period. There is ABSOLUTELY NO REASON that someone who gets coded with our company cant make money outside of a choice not to do so. AND, you help me prove myself with your next statement that reads:

"You too are making generic statements Primerica reps. If you think another person should feel silly about making generic statements, shouldn't you feel silly yourself? I don't know whether your stats that says 80% of the reps who work at Primerica only work part time is a good sign. If Primerica is such a great opportunity, why wouldn't more reps choose to work full time?"

Would you agree that a gym is a pretty good opportunity for someone who wants to become physically fit? I think that you would. So, if a gym is such a great opportunity, why wouldn't more members choose to work out full time? I have a friend that does sales for a major fitness club, and the national stats for their chain show that only 16% of its members visit the gym at least once a week. Edwin, can you tell me why that is? Gyms are like $40 a month aren't they? Seems like a waste of money to me if your not going to use it.

Alright boys, have your fun with this one. Talk to you later.
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#106 UPDATE EX-employee responds

Rebutting Crimerican William the Shiller (Dallas)

AUTHOR: Stuart - (U.S.A.)

A couple of special points I'd like to make.

Everybody is aware of the saying, "Beware of a wolf in sheep's clothing." William the Shiller is an excellent example of this.

He pretends that he doesn't belong to Crimerica saying, ",,,so I'm about 80% of the way to joining,...." The primary reason why he does this is he's trying to identify himself with those who are considering joining Crimerica. This way he's trying to gain more empathy from those who are undecided.

My second point: Crimerican shillers like to say that when something goes wrong for a recruit or a consumer, that somehow relieves Crimerica of responsibility. Not true. I also like to point out
that those (including me) make a sweeping generalization to the entire company or to the fat
cats at least, we don't need to go to every branch
nor to the corporate headquarters to know what's going on in general. For those familiar with statistics from mathematics, you know that you don't have to consider the entire population. You
just need enough of a sample to know what's going
on and Crimerica has surpassed that point many
times over here on Ripoff Report, let alone the rest of the internet.

Now I'll move on to the rest of the numbskull's
report.

"where are the issues these people mentioned?" All
over the Ripoff Report dummy.

"This company is doing business with some of the big dogs out in the industry." Many companies only care about the bottom line as you'll see when you check out Ripoff Report (there are still some
ethical companies out there).

"this looks like a real business opportunity." Is this why there are thousands of complaints about Crimerica on Ripoff Report plus over 100,000 agents leaving Crimerica each year. And don't forget, even the RVPs let alone the mere agents, don't own their downlines and clients. Greedy Crimerica does (check the IBA contract).

So knucklehead William I have a message for your fat catmasters which you can stick into your brain:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#107 Consumer Comment

Where is the rip off or scam

AUTHOR: William - (U.S.A.)

My room mate just joined Primerica a couple of months ago. I'm very interested in this business. I'm still developing questions to be answered, so I'm about 80% of the way to joining, but haven't joined yet. My key question is where is the rip off? Where is the scam? I just don't see it in this report.

It's like when I was searching for hotels for this last trip I went on, and people made negative comments in their reviews, I was asking, where are the issues these people mentioned? It just seemed like this person had a bad experience with this group of people. But if I had meet some of the jerks and buster that work in my company before I accepted the position, and then let them be my whole opinion of the entire company. I would have missed out.

The original report that was submitted shows me this thing isn't for this person. I too can do without some of the amen rah rah cheering stuff. But people will be people. The vague answers, I haven't had to deal with that. My roomate and another guy in his upline have been straight forward and very porfessional. This company is doing business with some of the big dogs out in the industry. So their financial creditibilty isn't even a question. They have competitors throughout the financial services industry. What I haven't found is many companies targeting the same market. Which is middle america. I still have questions and those questions so far are being answered.

The other thing I'd like to point out is the original person seems to totally be thinking like an employee. Theres nothing wrong about that, if your looking for a job, which it seems like they were. Their questions and concerns are valid if he were trying to get hired, not start your own business. It almost seems like the person in Primerica who was trying to recruit them was being slim shady, which leads to confusion.

For what I can see, this looks like a real business opportunity I can get in and start for little money. And it looks like I can make what I want from this.

Let me know if you have any questions.
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#108 Consumer Comment

Where is the rip off or scam

AUTHOR: William - (U.S.A.)

My room mate just joined Primerica a couple of months ago. I'm very interested in this business. I'm still developing questions to be answered, so I'm about 80% of the way to joining, but haven't joined yet. My key question is where is the rip off? Where is the scam? I just don't see it in this report.

It's like when I was searching for hotels for this last trip I went on, and people made negative comments in their reviews, I was asking, where are the issues these people mentioned? It just seemed like this person had a bad experience with this group of people. But if I had meet some of the jerks and buster that work in my company before I accepted the position, and then let them be my whole opinion of the entire company. I would have missed out.

The original report that was submitted shows me this thing isn't for this person. I too can do without some of the amen rah rah cheering stuff. But people will be people. The vague answers, I haven't had to deal with that. My roomate and another guy in his upline have been straight forward and very porfessional. This company is doing business with some of the big dogs out in the industry. So their financial creditibilty isn't even a question. They have competitors throughout the financial services industry. What I haven't found is many companies targeting the same market. Which is middle america. I still have questions and those questions so far are being answered.

The other thing I'd like to point out is the original person seems to totally be thinking like an employee. Theres nothing wrong about that, if your looking for a job, which it seems like they were. Their questions and concerns are valid if he were trying to get hired, not start your own business. It almost seems like the person in Primerica who was trying to recruit them was being slim shady, which leads to confusion.

For what I can see, this looks like a real business opportunity I can get in and start for little money. And it looks like I can make what I want from this.

Let me know if you have any questions.
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#109 Consumer Comment

Where is the rip off or scam

AUTHOR: William - (U.S.A.)

My room mate just joined Primerica a couple of months ago. I'm very interested in this business. I'm still developing questions to be answered, so I'm about 80% of the way to joining, but haven't joined yet. My key question is where is the rip off? Where is the scam? I just don't see it in this report.

It's like when I was searching for hotels for this last trip I went on, and people made negative comments in their reviews, I was asking, where are the issues these people mentioned? It just seemed like this person had a bad experience with this group of people. But if I had meet some of the jerks and buster that work in my company before I accepted the position, and then let them be my whole opinion of the entire company. I would have missed out.

The original report that was submitted shows me this thing isn't for this person. I too can do without some of the amen rah rah cheering stuff. But people will be people. The vague answers, I haven't had to deal with that. My roomate and another guy in his upline have been straight forward and very porfessional. This company is doing business with some of the big dogs out in the industry. So their financial creditibilty isn't even a question. They have competitors throughout the financial services industry. What I haven't found is many companies targeting the same market. Which is middle america. I still have questions and those questions so far are being answered.

The other thing I'd like to point out is the original person seems to totally be thinking like an employee. Theres nothing wrong about that, if your looking for a job, which it seems like they were. Their questions and concerns are valid if he were trying to get hired, not start your own business. It almost seems like the person in Primerica who was trying to recruit them was being slim shady, which leads to confusion.

For what I can see, this looks like a real business opportunity I can get in and start for little money. And it looks like I can make what I want from this.

Let me know if you have any questions.
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#110 UPDATE EX-employee responds

To Edwin (Mississauga)

AUTHOR: Stuart - (U.S.A.)

Edgar's earliest post on that thread is dated 7/14/06 where he says he's changed policies twice and suggested going over the policy thoroughly before signing up. No problem with that post as consumers should know what they're getting involved with.

The problem started when that moron, Edgar, posted on 8/3/06 telling me, Leroy and Jay what to do which is what a typical Crimerican shiller would do (I believe this is another Crimerican ploy to pose as a wolf in sheep's clothing when he claims he doesn't work for Crimerica).

It's clear that posters such as myself, Edwin, Leroy, Jay and others are trying to help out the consumer (judging from the responses, it appears we're making a positive difference) while we know what shillers such as Gary from Wichita or Ron from Bonita stand for. Regarding Edgar he appears to have such little knowledge that I figure he recently went to work for Crimerica.

For all the shillers, drill this into your brains:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#111 Consumer Comment

Stuart, you might want to check this out

AUTHOR: Edwin - (Canada)

Hi Stuart,

It's quite interesting that you keep mentioning that you believe Edgar works (or will work) for Primerica. This report will probably be of interesting to you.

http://www.ripoffreport.com/reports/ripoff187667.htm

Can the Edgar who is rebutting as an employee of Primerica in that report be the same Edgar who keeps claiming in here that he does not work for Primerica nor has he ever signed an IBA with Primerica?
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#112 UPDATE EX-employee responds

Abbott and Costello live on at Crimerica

AUTHOR: Stuart - (U.S.A.)

First Crimerican whipping boy Dave of El Cajon:

Dave posted this on 8/18:

"All the documentation you need is that in 2005 Primerica paid out $610 million to its sales force. (BTW, we paid out more in death claims) Now, how is that just on my word? See for yourself:"

Dave that is just on your word because that's not how it reads. Here's what it actually says:

"Paid out $610 million in compensation in 2005." Now pay close attention Dave as I don't want you to strain your brain too much. Compensation can mean salary, but it can also mean covering a loss and based on context from that website you gave, I firmly believe that the second meaning is intended. (fatcatmasters, can't you do any better than this loser?)

Now on to Edgar of La Habra. I'm expecting that you'll someday post on here that you're going to go to work for Crimerica (although I have no doubt that you already do).

So for you, Dave and Tony from Temple, I have a
message to burn into your brains which is:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."

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#113 Consumer Suggestion

Jay and Leroy

AUTHOR: Edgar - (U.S.A.)

Thanks for making my day again boys!!! I just love your insights. It's wonderful and may you both have a great and productive day,
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#114 Consumer Suggestion

dave in el cajun a classic crimerica turdburglar

AUTHOR: Jay - (U.S.A.)

chanting the same ole bulldung but failing to address these hard facts:
your companys recruiting tactics are deceptive and borderline fraudulent.
the "recruiter" steals the recruits warm market leaving him/her to twist in the wind.
the vast majority of crimericas reps are undereducated assclowns pitching the same ole one size fits all b.s about their "unique" FNA.
your term insurance is vastly overpriced , especially for women, leaving your "valued" clients either underinsured or overpremiumed.
your not so smart loan costs your clients tens of thousands of dollars in extra interest payments.
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#115 Consumer Comment

response for Dave in El Cajon

AUTHOR: Leroy - (U.S.A.)

Why do I post same things over and over? The first reason is because primericans come here and repeat the same drivel they hear at their meetings over and over and over and over ad nauseum. Secondly I respond to each one as if I hadn't said the same thing before because most people will not take the time to read 40 different threads with anywhere from 5-500 posts in each one. What I said on May 22, 2005 probably won't get read by someone coming here to look on August 23, 2006. I say what I feel is pertinent to that person despite the fact I may have said the same thing 4 months ago. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> I made a blanket statement about PFS reps not knowing why the statement "you have to borrow your own money" is wrong because over 30 years I've asked my fair share of primerica reps that question and not one has ever responded correctly. You quickly followed up this paragraph with two more statements showing that you don't know either. You made no mention of NET loan interest rates, which average 2% and with many companies are contractually guaranteed to be zero percent. The reason you didn't mention it is because you didn't know it. You don't know because your handlers at primerica didn't tell you. It interferes with the story they spin for unsuspecting consumers and gullible newbie agents. It takes a bit of intellectual curiosity to find these things out but virtually every primerica rep I've ever spoken to or exchanged posts with doesn't want to know facts which may be disturbing to them about what they are doing and because it says something about themselves that they believed what they have been told without questioning it. They are afraid if they find out primerica lied to them they will begin to wonder what else they were lied to about. So now I'll ask you the same question Gary in Illinois and Ron in Bonita, both who claimed to be RVPs, couldn't answer. Tell me why the statement "you have to borrow your own money from a cash value policy" is wrong. You have the advantage. If you want to you can go back and read about 50 of my posts in which I reveal the answer. By the way, your example about not having to "borrow" money out of a mutual fund was a non sequiter. Its meaningless to this conversation. Its as meaningless as if I had said "mutual funds are not FDIC or CIGA insured". Its true but meaningless to the conversation at hand. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< Just an aside Dave....you object to whole life policies being front loaded for expenses but then you turn around and sell front loaded mutual funds. Curious juxtaposition of moral outrage I'd say. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< You say you have no dispute that cash value policies have a place. I'm glad to hear you say that. I can count on one hand the primericans that have said that to me in the last 30 years. I would however, need a jumbo jet to hold all the ones who said cash value insurance is NEVER the right solution. You are in a tiny minority at primerica with your reasonable stance on cash value policies. <<<<<<<<<<<<<<<<<<<<<<<<<<<< Option B discussion. For those of you who don't know what it is Option B when chosen on a universal life or variable life product pays both the death benefit and the cash value upon the insured's death. Since the mortality charges deducted from these types of policies are charged only on the difference between the cash value and the death benefit, policies with Option B tend to cost the consumer more money over time than those without it. Dave asks how many policies have I seen with Option B on them. It doesn't matter. Its a dumb question that demonstrates Dave's lack of knowledge about cash value products and their best use. This is why it doesn't matter; a.) if the client is concerned with the cash values, like a small businessman using a policy as a temporary tax haven for moneys in a good year, he will opt for Option B. He wants his cash value back, however; b.) if the policy is designed to provide a constant death benefit until the client dies, then the cash values become irrelevant and Option A is chosen because it will provide the lowest possible premium to achieve that goal. Option B is not better than Option A or visa versa. They are just different. By the way, Paid Up Additions on a dividend paying whole life policy does pretty much the same thing as Option B does on a universal or variable product without any increase in client expenditures. <<<<<<<<<<<<<<<<<<<<<<< Income at primerica. Dave objects to the fact that I pointed out the average primerica rep earns less than $5,000 a year (his numbers are $610 million commission divided by 125,000 reps). He says many are part-time and that is why. I have a better illustration. As I recall only 8,000 primerica reps make $50,000 or more. It takes a full time commitment to do that. That is truly a poor statistic when you consider these two things gleaned from US Dept of Labor Statistics; a.) the average self employed person makes $143,000 b.) the median income in 43 of 50 states is over $50,000. Those two stats point out how exceedingly difficult it is to make a decent living selling overpriced products when you are being undercompensated to sell them. Now...you as a consumer,,,,how comfortable are you with a part time representative? I know primerica reps only have to learn about one line of overpriced term insurance and one really bad loan product, but there are over 9,000 mutual funds available for purchase. There are a multitude of variable annuities available that allow you to invest in the market with a guarantee of principle while maintaining your ability to participate fully in all the potential gains of an up market. In light of these facts do you really want someone working 10 hours a week managing your retriement funds? <<<<<<<<<<<<<<<<<<<<<<< Dave says something about primerica reps choosing to watch TV rather than make phone calls. I'm glad. Primerica could not sell their overpriced products in any other way than having newbie rep go out with his built in credibility to sell Cousin Larry some stuff. When a primerica rep chooses to watch American Idol rather than push bad products it means some family somewhere is better off. <<<<<<<<<<<<<<<<<<<<<< Just for good measure; primerica term insurance is overpriced for men and grossly, outrageously overpriced for women
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#116 Consumer Comment

Questions for Dave

AUTHOR: Edwin - (Canada)

Dave,

First, you asked Leroy "Have you actually spoken to ALL 125,000 PFS reps and asked them about whole life? Hmmm, sounds like a 'blanket statement' to me. I'll bet you feel a bit silly now, don't you?"

You then said "the fact that many agents in PFS choose to watch TV instead of make a call to set up an appointment" ... How would you know about that? Did you too speak to all 125,000 reps to find this out?

Similary, there can be many reasons why people aren't making as much money in Primerica. How would you know "The ONLY reason people don't make money in PFS is because they CHOOSE not to"? When you don't interview all the reps from Primerica who aren't making money, wouldn't your statement sound like a 'blanket statement' as well?

You too are making generic statements Primerica reps. If you think another person should feel silly about making generic statements, shouldn't you feel silly yourself?

I don't know whether your stats that says 80% of the reps who work at Primerica only work part time is a good sign. If Primerica is such a great opportunity, why wouldn't more reps choose to work full time?

Since you too have been involved with Amway, I hope to ask for your opinion. You have so much faith in the Primerica's business model. I understand your gf is doing very well. At the same time, look at how you're describing Primerica's business model. YOu said

"Primerica is a business for people who WANT to win, and are willing to do what it takes. Does it take hard work? Yes. Discipline? Yes. Dedication? Yes. Do many people fall short in these areas? Hell yes."

Wouldn't Amway sales people use the way to describe its business model? And there are people who succeed and make millions and millions of dollars from Amway too; and for them to suceed, they also need to work hard with disicipline, and are willing to do whateer it takes.

Some people will succeed in Amway, and some people will suceed in Primerica (ie your gf). Since you've been with Amway (and you hated it) and Primerica, can you please tell us the inside scoop on how are their business models different from each other? Thanks.
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#117 UPDATE Employee

To Leroy

AUTHOR: Dave - (U.S.A.)

It seems to me that you post here over and over because you are trying to convince yourself that that PFS is bad and you are good. Why do you feel the need to post here and say the same things day after day after day? Have you ever taken the time to think about that? Maybe a therapist can help you with this, so that you can spend more time trying to be a productive member of society.

You say that I am not qualified to judge whether or not I have made an improvement for my clients simply because of a rebuttal post on this website? I'd hate to have you on a jury. If you look back at the (seemingly) several hundred posts that you have made here, you will notice that you make many remarks that are not qualified with facts. When you are at dinner with someone who says that they like salmon, do you ask them to qualify their statement?

"My favorite example of this is "in a whole life policy you have to borrow your own money". Not true and 99.9% of primericans can't tell me why."
--Have you actually spoken to ALL 125,000 PFS reps and asked them about whole life? Hmmm, sounds like a 'blanket statement' to me. I'll bet you feel a bit silly now, don't you?

You and I both know that certain types of cash value have their place in certain situations. I wont dispute that. BUT, you also know that the majority of agents push cash value in almost any situation because they make a fatter commission on it than they do for term, and many do so knowing that term would be the better option. Just Google "term vs. cash value" and you all can find out for yourselves.

I have several clients who had a cash value policy in place and have advised them to keep it in force for various reasons. The blanket statement that I WILL make is this: For the majority of people the obvious choice is term, but many have been duped into some type of cash-value.

Speaking of borrowing money from a policy, what about the policy loan provisions do you have trouble understanding? Once you actually have any sort of cash value on your policy (2 to 5 years into it or more), you can take a policy loan if you need the money. You do have to borrow your own money from a cash value policy if you plan to keep it in force. And you have to repay the loan at an interest rate of between 6% and 8% if you want to recieve the full death benefit. Now, if option B is selected, this can change things, but really Leroy, how many cash value policies have you seen where option B was selected?

You can choose not to repay the policy loan, but you risk the policy lapsing in certain scenarios. Being as educated in insurance as you are Leroy, I'm sure you know what these scenarios are and therefore I will not go into it much further. BTW, If you had invested you money into a mutual fund and wanted to get the money, would there be a provision in place that asked you to pay the fund back a 6% interest? Just curious...

And now on to your unqualified statement about PFS commissions and the poverty level. How does that have ANYTHING to do with a business model like Primerica? You divided up the total commissions by the number of reps? I hope you don't use the same 2nd grade math techniques to help your clients out. The ONLY reason people don't make money in PFS is because they CHOOSE not to. Yes, what you do in this life comes down to a choice, and you have to make it. The 'fat cats" as you call them, and myself included, we made the choice to follow the system, and as a result we are making good money at it.

Did you know that about 80% of PFS agents are part-time? That's the beauty of the Primerica opportunity--you can do PFS without leaving the steady income of your full-time job. You can earn an extra $500, $1000, or more per month on a part-time basis, and decide for yourself if you want to recruit a team and go full time. Now, as we all know, not everyone who has a gym membership shows up at the gym 3 times a week. The same holds true just about anywhere else, and is true in PFS as well. Out of the 125,000 coded PFS agents we have now (give or take), about 20% of the people do about 80% of the production. The 80/20 rule applies pretty much everywhere--your church, your job, your family--stop and take notice once in a while. And truth be told, some agents don't do ANY production--they simply keep coming because they like the atmosphere. God bless 'em.

Primerica is a business for people who WANT to win, and are willing to do what it takes. Does it take hard work? Yes. Discipline? Yes. Dedication? Yes. Do many people fall short in these areas? Hell yes. Why do 90% of new small businesses fail within the first year or two? Why are there thousands of different diet and weight loss programs out there when medical experts have claimed over and over again that for the majority of overweight people excercise AND a healthy diet (yes, you need to do both) is all it takes? Why is the college drop-out rate in America one of the highest in the industrialized world? Do you think hard work, discipline and dedication might have a few things to do with it?

Does the fact that many agents in PFS choose to watch TV instead of make a call to set up an appointment have any REAL bearing on the income potential associated with Primerica? Please dig real deep into that IQ of yours to answer this question...and PLEASE think real hard before you respond to this question in particular. Your credibillity may depend on it.
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#118 Consumer Comment

Tony in Texas

AUTHOR: Leroy - (U.S.A.)

Here is the difference between us......you say if the SMART loan strategy won't work, you abandon it. I wouldn't be caught dead selling that thing to anyone under any circumstances. My analogy is this....you find a person who has a knife stuck 8 inches into him. You pull it out and stick a different knife into him but only 4 inches and then say you're a great guy because you have improved his situation. NOT TRUE. You aren't supposed to just screw him less...you are supposed to direct him to where he can get the wound healed.

The SMART loan is bad news because it locks a person into an interest rate far higher than they could have qulaified for and over the course of the loan it literally means the poor consumer will pay $100,000 or so more in interest. I agree ARMs, negatively amortized loans, etc.... are all bad, but I throw the SMART loan into the same category.

You say you sell primerica because of the Financial Needs Analysis (FNA)and it works if the client follows it. FNAs are not in the least unique to primerica. You can buy the forms on the net by the boxload if you want to. Every other company has a similar instrument....and yes, they will all work too.

You say the only difference between primerica and the others in the industry is the marketing strategy. I have seen other companies with slick marketing programs that are bad for the consumer too. Primerica sends out half trained people to counsel others on finances when they simply don't know what they are doing and have no business doing so. 99% of primerica people really just have the bare bones basics about this business down, and even then not all the basics. Remember, you only have to score 70% to pass the licensing exam.

I would never be a captive agent again for love nor money. I have a problem with captive agents. How can you sleep at night knowing you have to sell your stuff no matter how lousy it may be because its all you're allowed to sell? How can any primerica agent look a female in the eye and say "these prices we are quoting you are competetive" when you know they are nearly double other company female rates?

How can you guys continually use 12% as your Rule of 72 figure when less than a handful of mutual fund companies have averaged that for any length of time? I know you don't tell people they can be assured of getting 12%....but when you use 12% in all your generic statements you are implanting that figure in the mind of the unsophisticated consumer you people target. Its purposely deceitful without being illegal. The entire presentation primerica gives is full of examples where it is deceitful without being illegal from term insurance to loans.

Lastly, I can't understand how you people can have so little knowledge of how the rest of the industry works. Primerica tells you folks they are the only place that will give you this opportunity. Bullfeathers. There are at least a half dozen others doing the same thing PLUS, you can simply do it on your own and get compensated far more, compensate your downline far more, and sell better products to your clients. I have told at least a half dozen primericans on this board this and yet not a one has done anything but give me a rationalization of why they wouldn't look and see if I was lying or not.

How can you be happy sticking in that knife only 4 inches when someone is saying "here is the direction to learn how to treat knife wounds".?
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#119 Consumer Comment

Dave in El Cajon

AUTHOR: Leroy - (U.S.A.)

You say your clients are better off each and every time you do business with them. My reply is that far too many part-timers at primerica really don't know whether someone is better off when they are done or not because all they have accomplished is successfully present a canned sales pitch. They really don't know the ins-and-outs of the products they are replacing, they only know what they have been told. My favorite example of this is "in a whole life policy you have to borrow your own money". Not true and 99.9% of primericans can't tell me why.

Your next statement shows precisely why you're not a qualified judge of whether what you have done is to the betterment of the client. You say "we replace cash value products with term.......yada yada yada". There was no qualifying remark like "inappropriate cash value products" or "poorly designed cash value products". You made a blanket statement because the presumption is that no cash value product could possibly be as good as primerica term. I can show you specifically where females can purchase cash value products for less premium than primerica term. How would they benefit from a term policy that charges more premium than the cash value product they have?

Your example about not worrying about paying 25 cents more for lemonade in the desert doesn't hold water (pardon the pun). Its one thing to pay $3 too much for cosmetics from Mary Kay than the supermarket charges, or to pay Amway $4 more for a box of laundry soap, or even to pay $25 a month more to primerica for term insurance............but when you dupe a poor unsuspecting person into paying $100,000 more in interest on a home loan than they should, (like the not-so-SMART loan does) ......then you have greatly effected in a negative way the long term finances of that family.....the very ones you say you are out to help.

You said MATH IS FACT. You're right...and anyway you cut it, any way you slice when you talk some poor sucker into paying 7.75% for a not-so-SMART loan when they could have qualified for 6.0% elsewhere, you have damaged that family very deeply and for a long time.

Here is another MATH is FACT line for ya.......when you divide up all that commission
you brag about primerica paying and divide it buy the number of reps it comes out to less than half the qualifying amount for poverty level...and that average includes the fat cats making seven figures.

Another fact, you throw in a statement about paying death benefits....well according to the figures supplied to me by another primerican (Ron in Bonita) the average death claim primerica paid is about $43,000 less than the industry wide average for death claims from term policies. I suspect it has to do with primerica term being overpriced so the average Joe can't buy as much as he needs.

You say nowhere else can you get the excitement and recognition primerica offers. All that "excitement" and "recognition" helps your client how exactly????? Does it help him make the extra $400 a month in interest payments on his home loan because you successfully transferred your excitement into talking him into a lousy mortgage when he could have had better?
Does it help his family if he dies and has $150,000 less death benefit than he could have had for the same premium from a higher rated company?

You say you're will on your way to high passive six-figure income just following the system others laid before you. Well, I'll never argue that the right person can't make a bucketload at primerica. I have a client who makes a bucketload of money too. He winters near here. He talks people into spending $30 trying win a $4 stuffed toy at a rigged carnival game. He too is following the same system set down by generations before him. Just because someone has devised a way to successfully market something doesn't mean what is being marketed is good for the consumer.

Is ALL about the money Dave. I liked it better when you didn't try to rationalize it. I've been in your shoes. I was once a captive agent for AAA. I couldn't stand it and left after 5 years to become independent so I could do what I KNEW WAS THE BEST FOR MY CLIENT....not what the marketing department and sales manager said was best for my client. Now I don't have to rationalize my sales on boards devoted to telling the world how shoddy the products I sell are.
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#120 Consumer Suggestion

tony the toolman is the latest shill

AUTHOR: Jay - (U.S.A.)

i need to call crimerica headquarters and find out if a quarterly memo goes out asking for uneducated volunteers on the ripoffreport.com website.
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#121 UPDATE Employee

To be honest, I think...

AUTHOR: Tony - (U.S.A.)

To be honest I believe the names you've mentioned above are paid to rant, look up only the negatives, and become chicken littles. If they are I suppose I do have to respect that they are doing their job, not only that they may have been(and please allow me to use their vocabulary) "brainwashed" , but I'm sure they have their own family to feed. Regardless, if they do or don't, I've heard of competing businesses pay their agents to constantly complain and rant about how horrible Primerica is.

What I do advise people to do, is not to take advice from me, nor anyone else on websites like these. It takes 30 seconds to register, and a few minutes to type a rebuttal or post. Find your information from a credible source, where someone cannot just register with an email address with a fake address and complain about how the world is going to end. Seriously, search on hear about Mc Donalds..apparently they have scams too. Search Bank of America, so do they. Search any well known business name and YOU WILL SEE "SCAM".

Ridiculous. But regardless, I love you all.
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#122 Consumer Suggestion

Reponse to Tony

AUTHOR: Edgar - (U.S.A.)

Hey Tony- Nice response. Be prepared to be called a Shiller and a Moron. That's what they did to me and I just purchased a term policy and have been putting some money away into a retirement program. I initially was never going to respond but Jay, Stuart, and Leroy truely make my day. They get on here and insult everyone that does not agree with them. So Tony enjoy life and live it to the fullest.
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#123 UPDATE Employee

Wow..

AUTHOR: Tony - (U.S.A.)

This is a long, long, long, report. To be honest I skipped like half of it.

My story goes like this for mortgages. I look at the truth in lending documents. I ignore interest rates, I look at Annual Percentage Rates. More importantly I look at the type of the loan, is it fixed, balloon, arm, and if there are any other catches hidden in the contract. The most important thing I look at after looking the other things, is "Total Amount Paid" and "Term of Loan". If I the Primerica Rep see's that my loan has a higher APR, higher total amount paid for the home, and loan, I abandon the S.M.A.R.T. strategy. Yes, I know there could be other mortgages through other companies that could have something better than Citibanks S.M.A.R.T. loan, but I am a captive agent, so I can't market those products. Regardless, if the S.M.A.R.T. loan was better for the client number wise, I give them that recommendation and they make their own decision. Why do I choose to work with this company then, if I could market something a bit better? Well, very few mortgage companies are able to market their financial products with the FNA. And yes, it can help improve peoples finances, if they follow the FNA, assuming the FNA was done properly and thoroughly.

I help people with their finances with the tools I am given with my best effort. If its something beyond me, I tell them, "sorry but I can't help you". End of story.

Regardless, I treat my Primerica business very professionally and thoroughly. The only difference between our financial services and others is the way we market our products. Our company doesn't mass advertise on T.V., Radio, Newspapers. So does that mean we don't spend money on advertising? No, we do but differently. That money goes to the sales force, the Primerica Agents. What is important is that most Primerica agents are recruited because they believe they get to do the right thing, not screw people over, wouldn't you agree? I'm sure the flamers, probably heard this more than once, but hear it again. There will NEVER be a perfect organization made up of all perfect people, whether it be our schools teachers, churches, basketball teams, and even our government(isn't it ironic we blame our government even though our government is us the people? So if you're against the government, well, then you're against the majority of our country).

So, where am I going with this? Well, lets imagine a basketball team made up for 30 people. I sure we could say 5 of them on average are the non-team players, ball hoggers, those who play unfair. So lets use 1/6 of every organization are those type of people. Assuming Primerica still has around 125,000 licensed representives, 1/6 of those reps are not doing whats right. That is alot of people. This isn't including new recruits which I have no idea how many we have that talk to people about the opportunity, nor does it include the high turnover rate of licensed agents.
Now I'm not using the 1/6 of bad or not good people in every organization, I'm just using it for statical and usuable example.


So what I am saying is don't blame us all for the few who don't do it right. If you still want to rant, just visualize this, you and your family owns a store, any store. One of your employee sells me this shoe for $100 when I told him I can only afford $50 out of my budget by cohercing or whatever misleading way. Later that week I find out I've been mislead about this shoe and tell everyone, on the internet, friends, family, the police, and even sticking up a sign right next to you and your families store that says "SCAM, THEY WILL RIP YOU OFF". How would you feel? Doing this shows lack of integrity and respect doesn't it?

Unfortunately that is exactly how I feel about what you are doing. Not trying to be presumptuous, but for all I know you could be paid to write such reports and insults, especially if you are posting reports on here and you work as our competition. Regardless if you are or not, I will respect you as a person and will not go as far as insulting you as you did to others. Obviously, I do expect your response as you have replied to just about every rebuttal and I am willing to continue this discussion.
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#124 UPDATE Employee

Wow..

AUTHOR: Tony - (U.S.A.)

This is a long, long, long, report. To be honest I skipped like half of it.

My story goes like this for mortgages. I look at the truth in lending documents. I ignore interest rates, I look at Annual Percentage Rates. More importantly I look at the type of the loan, is it fixed, balloon, arm, and if there are any other catches hidden in the contract. The most important thing I look at after looking the other things, is "Total Amount Paid" and "Term of Loan". If I the Primerica Rep see's that my loan has a higher APR, higher total amount paid for the home, and loan, I abandon the S.M.A.R.T. strategy. Yes, I know there could be other mortgages through other companies that could have something better than Citibanks S.M.A.R.T. loan, but I am a captive agent, so I can't market those products. Regardless, if the S.M.A.R.T. loan was better for the client number wise, I give them that recommendation and they make their own decision. Why do I choose to work with this company then, if I could market something a bit better? Well, very few mortgage companies are able to market their financial products with the FNA. And yes, it can help improve peoples finances, if they follow the FNA, assuming the FNA was done properly and thoroughly.

I help people with their finances with the tools I am given with my best effort. If its something beyond me, I tell them, "sorry but I can't help you". End of story.

Regardless, I treat my Primerica business very professionally and thoroughly. The only difference between our financial services and others is the way we market our products. Our company doesn't mass advertise on T.V., Radio, Newspapers. So does that mean we don't spend money on advertising? No, we do but differently. That money goes to the sales force, the Primerica Agents. What is important is that most Primerica agents are recruited because they believe they get to do the right thing, not screw people over, wouldn't you agree? I'm sure the flamers, probably heard this more than once, but hear it again. There will NEVER be a perfect organization made up of all perfect people, whether it be our schools teachers, churches, basketball teams, and even our government(isn't it ironic we blame our government even though our government is us the people? So if you're against the government, well, then you're against the majority of our country).

So, where am I going with this? Well, lets imagine a basketball team made up for 30 people. I sure we could say 5 of them on average are the non-team players, ball hoggers, those who play unfair. So lets use 1/6 of every organization are those type of people. Assuming Primerica still has around 125,000 licensed representives, 1/6 of those reps are not doing whats right. That is alot of people. This isn't including new recruits which I have no idea how many we have that talk to people about the opportunity, nor does it include the high turnover rate of licensed agents.
Now I'm not using the 1/6 of bad or not good people in every organization, I'm just using it for statical and usuable example.


So what I am saying is don't blame us all for the few who don't do it right. If you still want to rant, just visualize this, you and your family owns a store, any store. One of your employee sells me this shoe for $100 when I told him I can only afford $50 out of my budget by cohercing or whatever misleading way. Later that week I find out I've been mislead about this shoe and tell everyone, on the internet, friends, family, the police, and even sticking up a sign right next to you and your families store that says "SCAM, THEY WILL RIP YOU OFF". How would you feel? Doing this shows lack of integrity and respect doesn't it?

Unfortunately that is exactly how I feel about what you are doing. Not trying to be presumptuous, but for all I know you could be paid to write such reports and insults, especially if you are posting reports on here and you work as our competition. Regardless if you are or not, I will respect you as a person and will not go as far as insulting you as you did to others. Obviously, I do expect your response as you have replied to just about every rebuttal and I am willing to continue this discussion.
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#125 UPDATE Employee

Wow..

AUTHOR: Tony - (U.S.A.)

This is a long, long, long, report. To be honest I skipped like half of it.

My story goes like this for mortgages. I look at the truth in lending documents. I ignore interest rates, I look at Annual Percentage Rates. More importantly I look at the type of the loan, is it fixed, balloon, arm, and if there are any other catches hidden in the contract. The most important thing I look at after looking the other things, is "Total Amount Paid" and "Term of Loan". If I the Primerica Rep see's that my loan has a higher APR, higher total amount paid for the home, and loan, I abandon the S.M.A.R.T. strategy. Yes, I know there could be other mortgages through other companies that could have something better than Citibanks S.M.A.R.T. loan, but I am a captive agent, so I can't market those products. Regardless, if the S.M.A.R.T. loan was better for the client number wise, I give them that recommendation and they make their own decision. Why do I choose to work with this company then, if I could market something a bit better? Well, very few mortgage companies are able to market their financial products with the FNA. And yes, it can help improve peoples finances, if they follow the FNA, assuming the FNA was done properly and thoroughly.

I help people with their finances with the tools I am given with my best effort. If its something beyond me, I tell them, "sorry but I can't help you". End of story.

Regardless, I treat my Primerica business very professionally and thoroughly. The only difference between our financial services and others is the way we market our products. Our company doesn't mass advertise on T.V., Radio, Newspapers. So does that mean we don't spend money on advertising? No, we do but differently. That money goes to the sales force, the Primerica Agents. What is important is that most Primerica agents are recruited because they believe they get to do the right thing, not screw people over, wouldn't you agree? I'm sure the flamers, probably heard this more than once, but hear it again. There will NEVER be a perfect organization made up of all perfect people, whether it be our schools teachers, churches, basketball teams, and even our government(isn't it ironic we blame our government even though our government is us the people? So if you're against the government, well, then you're against the majority of our country).

So, where am I going with this? Well, lets imagine a basketball team made up for 30 people. I sure we could say 5 of them on average are the non-team players, ball hoggers, those who play unfair. So lets use 1/6 of every organization are those type of people. Assuming Primerica still has around 125,000 licensed representives, 1/6 of those reps are not doing whats right. That is alot of people. This isn't including new recruits which I have no idea how many we have that talk to people about the opportunity, nor does it include the high turnover rate of licensed agents.
Now I'm not using the 1/6 of bad or not good people in every organization, I'm just using it for statical and usuable example.


So what I am saying is don't blame us all for the few who don't do it right. If you still want to rant, just visualize this, you and your family owns a store, any store. One of your employee sells me this shoe for $100 when I told him I can only afford $50 out of my budget by cohercing or whatever misleading way. Later that week I find out I've been mislead about this shoe and tell everyone, on the internet, friends, family, the police, and even sticking up a sign right next to you and your families store that says "SCAM, THEY WILL RIP YOU OFF". How would you feel? Doing this shows lack of integrity and respect doesn't it?

Unfortunately that is exactly how I feel about what you are doing. Not trying to be presumptuous, but for all I know you could be paid to write such reports and insults, especially if you are posting reports on here and you work as our competition. Regardless if you are or not, I will respect you as a person and will not go as far as insulting you as you did to others. Obviously, I do expect your response as you have replied to just about every rebuttal and I am willing to continue this discussion.
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#126 UPDATE Employee

Wow..

AUTHOR: Tony - (U.S.A.)

This is a long, long, long, report. To be honest I skipped like half of it.

My story goes like this for mortgages. I look at the truth in lending documents. I ignore interest rates, I look at Annual Percentage Rates. More importantly I look at the type of the loan, is it fixed, balloon, arm, and if there are any other catches hidden in the contract. The most important thing I look at after looking the other things, is "Total Amount Paid" and "Term of Loan". If I the Primerica Rep see's that my loan has a higher APR, higher total amount paid for the home, and loan, I abandon the S.M.A.R.T. strategy. Yes, I know there could be other mortgages through other companies that could have something better than Citibanks S.M.A.R.T. loan, but I am a captive agent, so I can't market those products. Regardless, if the S.M.A.R.T. loan was better for the client number wise, I give them that recommendation and they make their own decision. Why do I choose to work with this company then, if I could market something a bit better? Well, very few mortgage companies are able to market their financial products with the FNA. And yes, it can help improve peoples finances, if they follow the FNA, assuming the FNA was done properly and thoroughly.

I help people with their finances with the tools I am given with my best effort. If its something beyond me, I tell them, "sorry but I can't help you". End of story.

Regardless, I treat my Primerica business very professionally and thoroughly. The only difference between our financial services and others is the way we market our products. Our company doesn't mass advertise on T.V., Radio, Newspapers. So does that mean we don't spend money on advertising? No, we do but differently. That money goes to the sales force, the Primerica Agents. What is important is that most Primerica agents are recruited because they believe they get to do the right thing, not screw people over, wouldn't you agree? I'm sure the flamers, probably heard this more than once, but hear it again. There will NEVER be a perfect organization made up of all perfect people, whether it be our schools teachers, churches, basketball teams, and even our government(isn't it ironic we blame our government even though our government is us the people? So if you're against the government, well, then you're against the majority of our country).

So, where am I going with this? Well, lets imagine a basketball team made up for 30 people. I sure we could say 5 of them on average are the non-team players, ball hoggers, those who play unfair. So lets use 1/6 of every organization are those type of people. Assuming Primerica still has around 125,000 licensed representives, 1/6 of those reps are not doing whats right. That is alot of people. This isn't including new recruits which I have no idea how many we have that talk to people about the opportunity, nor does it include the high turnover rate of licensed agents.
Now I'm not using the 1/6 of bad or not good people in every organization, I'm just using it for statical and usuable example.


So what I am saying is don't blame us all for the few who don't do it right. If you still want to rant, just visualize this, you and your family owns a store, any store. One of your employee sells me this shoe for $100 when I told him I can only afford $50 out of my budget by cohercing or whatever misleading way. Later that week I find out I've been mislead about this shoe and tell everyone, on the internet, friends, family, the police, and even sticking up a sign right next to you and your families store that says "SCAM, THEY WILL RIP YOU OFF". How would you feel? Doing this shows lack of integrity and respect doesn't it?

Unfortunately that is exactly how I feel about what you are doing. Not trying to be presumptuous, but for all I know you could be paid to write such reports and insults, especially if you are posting reports on here and you work as our competition. Regardless if you are or not, I will respect you as a person and will not go as far as insulting you as you did to others. Obviously, I do expect your response as you have replied to just about every rebuttal and I am willing to continue this discussion.
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#127 UPDATE Employee

As I said....

AUTHOR: Dave - (U.S.A.)

Boy, did I call it or what!?! You guys are sooooooo predictable. Funny even. Anyhow, I just wanted to say that for us it's not JUST about making money. My clients are better off after having done business with me than they were before, in every case. Period.

I replace their cash value policies with term, I get them out of ARMs and into a fixed rate mortgage that pays of 33% sooner with bi-weekly payments, and I free up money for them to invest. Now, would they have done it on their own had I not approached them for an appointment? Probably not.

Whether or not our products and services are the best really isn't the point. If you were walking through a small-town suburban neighborhood on a sweltering summer day, and a 6-year-old offered you a glass of lemonade for 25 cents, I doubt that you'd walk from neighborhood to neighborhood just to search for the cheapest lemonade stand. You'd pay the boy a quarter, enjoy the ice cold lemonade, and be on your way, better off now (having been hydrated) than you were ten minutes ago. Do you see my point?

So yes, it IS a crusade, because while the money is good, helping people take control of their finances and express to us a renewed glimmer of hope about their future is even better than the money. Could I go work for WFG and offer a broader range of products to my clients? Sure, but no other company has what PFS has, and that is an atmosphere of excitement and recognition unlike anything else out there.

Last time I checked, 1+1 still equals 2. My point is that math is science, and science is fact. My clients always see the calculations (that's math, mind you--I know how slow some of you are) that show them the improvements in their finances that I have made for them. They see it as FACT. That is how I average 8-10 referrals per client I see, and that is why our Primerica business has grown so well over the past 12 months.

I'll say it again for the many of you who missed it the first time: My clients are always better off financially after they meet with me. I do what is right for the client 100% of the time. I have taught everyone on our downline to do the same, and I always review FNA's personally before any carryback. Why, because I'm on a crusade.

Now for the fun part. Let's see....oh yeah, you said something about documentation:

"I'm here to say that ___ is a money-making opportunity for anyone who can pass our background check, and is willing to follow the system." The problem here is, shiller, it's just on your word. Prove it with documentation and don't skimp on the details. Otherwise I'll be looking for your float filled with hot air at the next Thaksgiving Day parade."--Okay, I'm not sure what documentation you want. Do you need me to fax you a paycheck or something?

All the documentation you need is that in 2005 Primerica paid out $610 million to its sales force. (BTW, we paid out more in death claims) Now, how is that just on my word? See for yourself:

http://www.primericabusinessopportunity.com/public/businessopportunity/primerica_who.html

So Leroy, you are right--it IS about the money! I'm well on my way to a high six-figure passive income, and I'll have gotten there in 1/2 to 1/4 the time it takes many people to do it. How is that possible? Because I'm following the same system that Hector LaMarque followed, that Bob Safford followed, that Jimmy Meyer followed, etc... How were THEY able to succeed to the degree that they have? Is the Primerica system so phony that we have added 12 new million dollar earners to the group of elite over the past 5 years?

And you will say that only the people that got in early are doing well and they only keep getting richer--they do get richer, but I know that there is more than enough money in this company to go around. Collis Temple has been with the company for less than three years and he is already earning $250K rolling 12. What does he have that I don't have? We both have access to Primerica, and that is all I need to know.

So I say again, we improve our client's financial situations every single time. It is a crusade to help families become debt-free and financially independent. It is also about the money, because Primerica offer the chance to live the life of your dreams to ordinary people like you and me. The opportunity is real. The company is real. And the money that goes into my bank account is VERY REAL. Say whatever you want about the company, but I must ask...is YOUR company going to allow you to earn as much passive income as you are willing to work to build? Just a guess, but I think the answer to that one is going to be 'no'.

Oh yeah, I love the cute little "Crimerica" nickname---did you think of that one all by yourselves?
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#128 UPDATE EX-employee responds

Crumbling Crimerica and the FTC

AUTHOR: Stuart - (U.S.A.)

I've posted before that Crimerica has been walking a fine line between legal and illegal. The FTC intends to redraw that line which has Crimerica quite nervous. I urge everybody to support the FTC's Business Opportunity Rule R511993 by writing the FTC and your congressional reps.

In regards to Edgar from La Habra: if it walks like a skunk and talks like a skunk...well I'm sure you know what I mean Edgar as you're still Crimerica's little whipping boy (nobody believes you're merely a consumer). I now quote you:

"Great job Dave and Kalani you put Stuart in a position where he had to quote his freedom to post here." Not true at all shiller, in fact this is what Kalani has said:

"Stuart: Thank you for including factual evidence to this forum rather then opinion and absurd accusations. I look forward to the implementation of the new proposal and hope that it will bring integrity to not only Primerica but also other business opportunity sellers."

In fact moron you, Ron from Bonita and Paul from
Brooklyn are the basis for my statement as you would love to see me disappear from Ripoff Report (not in your wildest fantasies a$$wipe). Too bad for you that I can't accommodate you (however I love to see you come over to Ripoff Report as you're another embarrassment to Crimerica).

Time for your refresher, *&*&:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#129 Consumer Comment

who compared fixed to ARMs

AUTHOR: Leroy - (U.S.A.)

Every comparison I made was for a 7.75% not-so-SMART loan to a fixed conventional 6.00% loan the same person can typically qualify for with a less expensive lender. No one ever mentioned ARM loans. No matter how you cut it or how you slice it a typical 7.75% primerica loan rips off the consumer when compared to a 6.00% loan.

If you're happy overpaying for your term insurance, and you're happy paying an extra $5,000-6,000 a year in interest to primerica then you're either very affluient and in a position where convenience matters to you more than money, or you're just not too bright. You better be happy with it. Primerica loans are relics in that they still have lengthy and substantial prepayment penalties the rest of the industry abandoned years sgo.

Dave still gets a ribbon for being honest about primerica...it ain't about a crusade, it ain't about serving the middle class...its all about the money!!!!
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#130 Consumer Suggestion

dave in el cajun says it all about crimerica

AUTHOR: Jay - (U.S.A.)

give the shiller credit for telling the truth about this band of incompetent thieves.
he basically admitted. "our products are worth *&*& but you can make a lot of money"...
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#131 Consumer Suggestion

Response to Stuart, Jay, and Leroy

AUTHOR: Edgar - (U.S.A.)

Hello Stuart, Jay, and Leroy-
I am back just to say hello. I get on here now just to see what else you guys have to say. It makes my bleeping day. I think Dave and Kalani just whipped you boys. Great job Dave and Kalani you put Stuart in a position where he had to quote his freedom to post here. That is great, and I wish both of you the best in your venture with Primerica. I am not a representative nor have I filled out an IBA but I am a customer and very happy with the work you do. Keep up the good work. By the way gentlemen any fixed loan is better than any ARM option loan. From my understanding that is the only thing that Primerica offers. Kalani, Dave is that true. Stuart, Leroy, and Jay you can try and put all of your diagrams and examples together but as an employee of a Direct lender every arm program is junk no matter what the rate is.
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#132 Consumer Comment

Dave in El cajon is truthful

AUTHOR: Leroy - (U.S.A.)

Dave in El Cajon, a primerica rep, finally is 100% truthful. Its not about doing what is right 100% of the time, its not about being on a crusade to rid the world of bad whole life policies, its not about helping middle class families..........ITS ABOUT THE MONEY!!!!!!!!!

That is what I have always claimed. Its nice to see someone there is finally honest about it.

A.L. Williams looked at the insurance world as it existed in 1976 and saw the average new life insurance salesman made 6-7 sales to his/her "warm market" and then disappeared from the business. Good old A.L. figured out a marketing scheme whereby he could get the commission from those 6-7 sales for himself without investing any time or effort into the new recruit. He didn't even have to really educate him about insurance....all he needed was enough knowledge to get 70% on a very easy licensing test, and a canned sales pitch.

It worked brilliantly. Even today 100,000 new suckers buy in per year. A handful make enough money to stick and then get publicized so that a new 100,000 suckers can be brought in the following year.

The products are bad, but Dave in El Cajon is honest enough to admit that doesn't matter. All that matters is MAKING MONEY!!!!!!!!

Thank you for your honesty Dave
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#133 UPDATE EX-employee responds

Rebutting Crimerica's whipping boy Dave (El Cajon)

AUTHOR: Stuart - (U.S.A.)

"Okay, you all have just WAY overcomplicated this whole ___________ thing." Actually it's very simple. Crimerica is a scam.

"While many people feel that ___________ recruiting practices are deceptive (ie job interviews, and the like), that doesn't change what ___ is." Which is a fraudulent pyramid-schemed ripoff company. Pretty simple, huh?

"While people may feel that their term insurance costs too much..." Who cares about opinions? Crimerica's metamorphosis website admits that their term insurance is very expensive without explaining what the compensating benefits are.

"ANd it doesn't change the fact that there are thousands of ___ reps who ARE earning 6-figures in their businesses" Thousands you say? Closer to a thousand from the last figures I've seen. And keep in mind this is before business expense and chargebacks to commission (which, on average, is 50% according to Crimerica's metamorphosis website). Also no reps own their own businesses because it's Crimerica that owns the downline along with your clients (just get a specimen IBA contract and check it out).

"Those of you who are approached by a ___ agent and invited to an orientation, or to coffee to discuss the potential to change careers, you need only take a look and then make up your own mind. That's all we ask." And I would urge you to do this because there's nothing like getting it straight from the horse's mouth. But be prepared before you go for the following:

(1) Being pressured to join (including giving so-called references, your warm market of friends
and relatives whereby the Crimerican rep will pressure you to give six names). You'll find that the Crimerican rep wants those references so that he can make a commission (being that he's licensed and you're not) for himself so, in effect, you're giving away your commission to your "sponsor."
(BTW your way out of the so-called opportunity meeting may be physically blocked).

(2) You'll be asked to cough up $199 for training
to get a life insurance license at the meeting.
I would ask that you hold off on that and DON'T give out your CC information, ssn# and any other
personal and financial information about yourself
no matter what your sponsor says until you have a chance to check out Crimerica thoroughly.

(3) After the so-called big successes get done with their spiel, follow them out to the parking lot and see what kind of car they drive.

(4) Do your research and be armed with many questions. If you don't get a straight answer to
your satisfaction, then you should walk away.

"I'm here to say that ___ is a money-making opportunity for anyone who can pass our background check, and is willing to follow the system." The problem here is, shiller, it's just on your word. Prove it with documentation and don't skimp on the details. Otherwise I'll be looking for your float filled with hot air at the next Thaksgiving Day parade.

So shiller how are you helping out the victims of
Crimerica? Are you concerned with the FTC's proposed Business Opportunity Rule No. R511993?
Burn the following into your brain 100 times:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#134 Consumer Suggestion

Business oppertunity rule and Primerica

AUTHOR: Kalani - (U.S.A.)

If you check out my earlier post "our corrupt government hard at work" which is menat to be sarcastic if you didn't notice. At the end of that post you can find a brief summary of the proposed business opportunity rule.

Although it is a very good rule and should have been in place earlier it does not ,in any way, target or have anyhting to do with the "pyramid scheme". All it is proposing is strict control over companies who misrepresent facts such as earnings and potential income. It legally holds companies such as Primerica responsible for operating business in full honesty.

For once can we as educated people realize that the Federal Trade Commission has strict policy and has found anything that resembles or is found to operate as a "pyramid scheme" illegal and in turn immediatley put under investigation and shutdown. So can we stop using terms from the 80's when the first "pyramid schemes" surfaced and realize that it is an outdated, illegal and strictly enforced.

I would think that the number 1 company of the fortune 500 for 2006, that is CitiGroup, might just have a couple of lawyers with at least knowledge equal to our own take a peak into the illegal practices of Primerica before they brought them on as a subsidary, which means they own at least 50% of Primerica, so can we get off of the big bad illegal company issue because it is really is obsurd and has no factual support.
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#135 UPDATE Employee

Simple--it is what it is.

AUTHOR: Dave - (U.S.A.)

Okay, you all have just WAY overcomplicated this whole Primerica thing. Primerica is nothing more than opportunity to earn money outside of being an employee. Pretty simple, huh? There are thousands, if not millions of ways to make money outside of being an employee. And guess what? People will find something wrong with EVERY SINGLE ONE OF THEM!!!

While many people feel that Primerica's recruiting practices are deceptive (ie job interviews, and the like), that doesn't change what PFS is. While people may feel that their term insurance costs too much, that still doesn't change what PFS is! If you can find an opportunity to build a business that generates to you a high 6-figure passive income after years of hard and dedicated work, then go do that! Nobody is making anyone do Primerica!!

All of the people that are in PFS that post here to defend the company and the opportunity, well, they see PFS for what it is. Do all of them have the work ethic and sheer desire to succeed in PFS? HELL NO!! Only 2% of people who join PFS even stick around longer than 6 months, and fewer than that actually make it to any kind of significant income. But I say again, that doesn't change what PFS is. ANd it doesn't change the fact that there are thousands of PFS reps who ARE earning 6-figures in their businesses, and 53 that make 7-figures. Tell me, how many people at your company make that kind of money? Just curious...

Only 2% of the American population earns a 6-figure income, and about 2% of the people who join a gym actually become totally fit. Do you see a pattern developing? Earning a 6-figure income is no easy task, and if it were, well, I think you see where I'm going with this.

Those of you who are approached by a PFS agent and invited to an orientation, or to coffee to discuss the potential to change careers, you need only take a look and then make up your own mind. That's all we ask. I know that I like to gather all of the information first before I say 'no' to something, and that includes researching the internet. By the way, when I research ANYTHING on the internet I can easily find site that are dedicated to opposing views, whether it be a company, a product, a deity...etc.

I find it foolish to say 'no' to something before I've had the chance to really ask some questions, and that is what I did before joining Primerica. I was the hardest sell to do this, because I'd been to an Amway meeting about 12 years ago and at the ripe old age of 19 I wasn't quite ready for all of that. When I attended my first Op Night meeting, I instantly felt the same way--"No way, Jose! I've seen this before!" Say, come to think of it, I used to hate bleu cheese 12 years ago too--I've since developed a taste for it.

Since my girlfriend had joined a few weeks prior (she has a BA in financial services and turned down positions from American Express, AIG, and Merrell Lynch) I kept coming to support her. I had made it very clear that I was going to go on to grad school and become a family therapist. Problem was that at age 30 I wasn't looking forward to 3-4 more years of school. The more I watched my girlfriend do what she was doing, I began to really take notice. She was one of the rare few that really grasped the concept of making money in an MLM, and got promoted very quickly. She was making money--REAL money--at this thing, and told me that I really should consider it.

Seeing her success was enough for me. I'm a pretty competitive guy, and to see my girlfriend kicking butt and making money with far less stress and far more enthusiasm than in our restaurant jobs got me a little riled up. I submitet my $199 and was off to the races. We have since submitted our partnership agreement and are full-time in the business. We are now Regional Leaders and are looking to go RVP in March of 07. And guess what? We make REAL money at this thing. The checks that are deposited in my bank account help me buy the same $3.25 gasoline that you do.

The bottom line--no one put a gun to my head and forced me into the business. After taking all of the information that I had into consideration, I made the decision that it was right for me. And you know what? I have interviewed lots of people. I have invited tons of folks to op meetings. Did they all join? No, but some of them did. Some of them saw PFS as nothing more than an opportunity, and they decided to see if they have what it takes to make it work for them. THAT'S IT! Not too complicated, is it?

I'll tell you a secret though--no one that I invited to an op meeting or interviewed who joined my business has EVER been pissed off at me for doing so. In fact, I have been thanked more times than I can count by the people in our organization for taking the time to offer such a great opportunity to them. They came, they saw, and they made up their own freakin minds! WOW, what a concept!

Home stretch now. Since I'm not a TOTAL fool, I expect that upon reading this rebuttal some of you are going to pick it apart, point out all of the things that I didn't say (whatever those may be), classify me with some pet term, and finally, run back to saying all the same crap that you say over and over and over and over and over again in this thread: "You rip people off! Your SMART loan os a rip-off! Your insurance is a rip-off! Blah, blah, blah." Save your breath. That's NOT what this post is about. I'm not here to say we have the best products. I'm here to say that PFS is a money-making opportunity for anyone who can pass our background check, and is willing to follow the system. Yes, there is a system in place, just like at YOUR job. If you don't follow the system at your job, how productive is your business? Just a thought...

So in closing, If it's not for you, then GOOD! Go do something else! I would love to say "...but don't tell everyone else that it's a scam and that it's a waste of time and blah blah blah"--I live in the real world and I know THAT'S not going to happen. I've seen how long this thread is, and so for me to tell you all to knock it off would of course be in futility. I just wanted to put my two cents in, and hope that at least one person who is seriously considering the opportunity with Primerica would see past all of the (generally) unsubstantiated babble that you spend (apparently) most of your lives writing here, and take the time to gather the information, ask the questions that they want answered, and make a decision for themselves. That's what I did, and it worked for me. Maybe, just maybe, it can work for you too.

Dave, RC
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#136 Consumer Suggestion

revisiting Lori part Deux....

AUTHOR: Jay - (U.S.A.)

im quite confident the average nursing home resident drooling in the hallways knows more about finances than the average Crimerican, i.e. lori the shiller. these newbie puppeteers actually believe their RVP's are financial geniuses out saving the world from the evil banks, insurance and credit card companies.
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#137 Consumer Comment

revisiting Lori

AUTHOR: Leroy - (U.S.A.)

Lori talks about how she "helped" this family and that family. First of all, most primericans are inadequeatly trained to know whether they helped or hurt someone.

Secondly, and more importantly, just because salesperson #2 rips someone off less then the salesperson #1 did doesn't mean that the consumer is not still the victim off a ripoff. Its just a different one.
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#138 UPDATE EX-employee responds

Rebutting shiller Lori of Weston

AUTHOR: Stuart - (U.S.A.)

First Lori, drill this into your brain:

"Victim of a consumer Rip-off? Want justice? Rip-off Report? is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."

Clearly you're not a consumer of Crimerica.

It's also clear that Crimerica is rotten to the core. The shillers' postings to this great website is clear evidence for that (just the fact, e.g. Ron from Bonita, that shillers show great disrespect towards others who try to help out victims is proof). I've documented by referring to Crimerican websites and quoted off of them and giving the links so that people can see I don't take things out of context.

Getting down to the nitty gritty, the basis of Crimerica is the term policy. The number one reason why people get life insurance is to provide for the spouse when the insured dies or, in short, for retirement purposes. But when you buy term for retirement, you might as well kiss your money goodbye because the average age people live to is 80 and chances are great that the term policy will expire before the insured does (of course you can convert term into another type of life insurance policy assuming you have the option, but that can get very, very expensive and you start off with a very expensive policy with Crimerica to begin with). Of course the Crimerican agent either doesn't know or doesn't care to inform his or her
client about this as the focus is to get a sale, not service the client properly.

"If the company learns of a situation that is harmful to a customer, the company will do whatever they can (within legal boundries) to make it right." Such as what happened with Herbert Amos Jones in California, an RVP who got prosecuted for fraud. Of course Crimerica did make restitution to the victims according to the newspaper report. But I'm sure their ass would have been hauled into court if they didn't.

Currently Crimerica is walking a fine line between what's legal and what isn't. The FTC is proposing Business Opportunity Rule R511993 to help curb abuses such as pyramid-schemed Crimerica has been getting away with to rip off the consumer (and frontline agents). Anyone reading this posting who wants to make their voice heard in favor of this proposal should write to the FTC and your congressional representatives to let them know you back them 100%.
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#139 Consumer Suggestion

lori, queen of the absurd

AUTHOR: Jay - (U.S.A.)

your rant is straight out of the crimerica playbook, full of half truths and outright lies. care to refute any of the points i made in my earlier post? you will be hearing from leroy and stuart shortly...
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#140 Consumer Comment

Lori in Weston

AUTHOR: Leroy - (U.S.A.)

No you don't do whats right 100% of the time. Whenever a primerica rep talks someone into one of those awful not-so-SMART loans that charge 1.75% more interest than he could qualify for elsewhere you aren't doing the right thing. That client will get pay literally $75,000-100,000 more in interest than he should have, (based on a $250,000-300,000 loan). The fact there may be other bad loans out there, like negatively amortized loans, doesn't excuse primerica for selling a bad loan package. When you decieve people with crud like "simple interest saves lots of money over scheduled interest" or "interest rates don't matter...only time in debt matters" you are not doing the right thing for anyone except the commissioned salesman selling that garbage and the predatory company issuing it.

Not all cash value insurance products are bad. Many are. The trouble is primerica reps make absolutely no distinction. They rip out the good and the bad alike and then replace it with overpriced term insurance. The reason they make no distinction is that they recieve very poor training and they don't know the difference. They are on a "crusade", as you admitted, so individual circumstances that might justify a cash value policy are not considered.

Primerica doesn't educate consumers, or reps. To do that you have to give both sides of the issue. Primerica doesn't. They fill their reps with lies about cash value insurance like "you have to borrow your own money". Primerica indoctrinates, it doesn't educate.

The REAL primerica crusade is to recruit unsuspecting people to hand over their warm market to primerica so they can rip off the commissions, sell overpriced term insurance, and sell arguably the worst loan in the business.

Primerica term rates on women are so high in many instances I can sell a cash value policy to a woman for the same premium primerica charges for 20 year term.

Want an example?
A 40 year old healthy smoking female can buy $200,000 primerica 20 year term for $1203 a year
OR she can buy 20 year RETURN OF PREMIUM term for $759 a year. At the end of 20 years she gets back the $15,800 she paid in premium tax free. At primerica she gets NOTHING!!!!!

How can any primerica rep who knows this and has a conscience still offer primerica term to a smoking woman?

Lets say she is a healthy non-smoker. Primerica is $339 a year. RETURN OF PREMIUM with another carrier is $357. Primerica would have to find the woman a guaranteed tax free return of 24.4% (twenty four point four percent) on the $18 a year difference to equal what she will get back on her return of premium term insurance from a different carrier.

How can any primerica rep sleep at night if they knew these kinds of differences existed?

Primerica is without a doubt the most cynical marketing organization I have ever seen.
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#141 Consumer Suggestion

PFS Rep's Story

AUTHOR: Lori - (U.S.A.)

It is unfortunate you were exposed to an environment where "Amen", etc. were used. Not all of them are like that. I know. I have had the opportunity to be in two separate organizations (one in Arizona and one in Kansas).

Neither of them have ever used "Amen" as part of the Business Overview meeting.
In fact, if you had attended the Business Overview meeting in my current organization in Kansas you would have learned, first and foremost what we do to help the consumer (not just in the USA but in England, Spain, Canada and Puerto Rico). Then you would have heard about the four ways to make money in our society and how Primerica fits. Only after all of that would anyone tried to "recruit" you.

As for what we do-- the first time you experience replacing a cash value life insurance policy for $50,000 for the breadwinner of a family with a term policy worth $350,000 (for less monthly payment) you know you are on the right track. But, it is only when that breadwinner dies and you can deliver a check for $350,000 to his widow and kids and know you've made a difference in their lives is it when you really "see" what we do.

Or, if that does not do it for you, here are a couple more. The young family that has an interest-only ARM as one mortgage and a 15-year balloon note as a second mortgage on their home. They were paying about $950 per month and only $13 per month was going to principle. They were going to be in the interest-only ARM for over 50 years, and in 15 years the amount of principal they needed to pay was only $2,000 less that when they started.

Or, another client of mine found herself in a negative amortization loan. Ever heard of it? Me neither, before joining Primerica. Here is how it works-- You pay your monthly payment. They charge you a variable interest each month based on a specific index.

If your interest is more than your payment (say your payment is $600 and the interest is $775) the difference ($175) is added to your principal. This person, after 5 years of making "payments" actually owed more on her house than she originally borrowed-- and it was going to get worse now that interest rates are climbing. And, as for her budget-- every six months her house payment adjusted (based on the then current interest).

I know this is a lot of "stuff", but it is what we really do to help educate the consumer. Do you really believe anyone would have gotten themselves into any of the above situations on purpose? I doubt it. But the insurance and mortgage industries prey on people and their ignorance of how their industries really work.

This is where our "crusade" comes from. We educate and really do what is right for our consumers 100% of the time. That is not to say all Primericans are created equal and 100% of us do what is right 100% of the time. But, I can speak from personal experience. If the company learns of a situation that is harmful to a customer, the company will do whatever they can (within legal boundries) to make it right.

So, before you really consider us a "ripoff" try going to another meeting- not in the same office, but another office in your area. You may find it is a whole different environment, and more to your liking.

I am not saying-- join Primerica-- I am saying don't judge all of us harshly because you were uncomfortable at this meeting. Actually, it sounds like the people trying to "recruit" you and those you talked with were new. An experience PFS person would have had good solid, truthful answers to the questions you asked.
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#142 Consumer Suggestion

Our corrupt government hard at work

AUTHOR: Kalani - (U.S.A.)

Stuart: Thank you for including factual evidence to this forum rather then opinion and absurd accusations. I look forward to the implementation of the new proposal and hope that it will bring integrity to not only Primerica but also other business opportunity sellers.

Thomas: To base the integrity of an entire institution, especially when one that is vaguely connected, on the comments of one non-permanent politician is foolish. The fact that Rumsfeld the Secretary of Defense gives any insight to the integrity of the Federal Trade Commission confuses me, especially considering that the FTC has bee active since 1914 and Rumsfeld has been in office since 2001. With that said I would assume that your generalizations carry over to the dishonorable actions of the soldiers at Abu Ghraib, and you must believe that the actions of those soldiers reflect the integrity of all military members, include the brave action of the soldier who exposed these immoral practices at the expense of his safety and his life. What then can I believe are your views on the thousands of soldiers, government employees, who gave their lives in support of this corrupt and untrustworthy government.

Everyone needs to realize that recruiting is not a new or horrific trap only practiced by the corrupt companies. I was recently approached by a recruiter from another financial services company, a very reputable company with over 100 years experience and a top fortune 100, this company is much more attractive then Primerica and widely respected in the financial world. My point is can we stick to facts and really analyze the substantial evidence against Primerica and not focus on the actions less then honest agents and offices.

It is true that any corporation would fail a test of integrity if the corrupt were to be singled out and put on display. IT IS SYNICAL PEOPLE WHO TURN HELPFUL SITES LIKE THESE INTO THEIR OWN PERSONAL OPINION FORUMS, IN SHORT COME WITH REAL FACTS OR DO NOT COME AT ALL.

I skimmed the proposed business opportunity rule, which would be an addition to the already standing franchise opportunity rule, and found it to be a much-needed addition in order to control the misrepresentation of business opportunities such as Primerica. Although I do not see it having a negative affect on the future of Primerica. Here are some of the high points of the new rule you can find the entire rule here:


SUMMARY: The Federal Trade Commission (the Commission'' orFTC'') is commencing a rulemaking to promulgate a trade regulation rule entitled The Business Opportunity Rule'' (or the Rule''), based upon the comments received in response to an Advance Notice of Proposed Rulemaking (ANPR'') and other information discussed in this notice. The proposed Business Opportunity Rule would prohibit business opportunity sellers from failing to furnish prospective purchasers with material information needed to combat fraud and would prohibit other acts or practices that are unfair or deceptive within the meaning of section 5 of the Federal Trade Commission Act (FTC Act'').

Business opportunity sellers would be prohibited from misrepresenting: (1) Earnings; (2) costs or the efficacy, nature, or central characteristics of the business opportunity or the goods or services sold to the purchaser as part of the business opportunity; (3) cancellation or refund policies; (4) promised assistance;
(5) the calculation and distribution of commissions, bonuses, incentives, premiums, or other payments from the seller; (6) the likelihood of finding locations for equipment or accounts for services; (7) a business opportunity as an offer of employment; (8) territorial exclusivity or more limited territorial protections; (9) endorsements; and (10) shills as references. Finally, the proposed Rule would prohibit business opportunity sellers from failing to make promised refunds, as well as assigning to any purchaser a purported exclusive territory that, in fact, encompasses the same or overlapping areas already assigned to another purchaser.''
_________________________________________________
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#143 Consumer Comment

Primerica is a scam. Are 5 recruiters really ever egnough?

AUTHOR: Todd - (U.S.A.)

Unfortunately for me I have a Primerica HQ located in nearby Oakbrook, IL. When I put my resume online back in January. Not 1, not 2, but 5, yes five Primerica recruiters tried to contact me. The only way 5 recruiters call from any organization is if there is direct compensation for doing so. For me this meant the people with this organization were either extremely hungry or extremely disorganized.

I had fun scheduling, rescheduling, missing appointments, and otherwise bamboozling that which seemed like a team of retarded chimps over the next month, even after getting a real job. I blew off one guy 3 weeks in a row and he simply kept calling me and setting up new interview times (they were all for 'group interviews' which are typically a scam 99.9% of the time). I said more power to you buddy.

It's all about getting people hyped up to do something that they would otherwise not. The presence of a group adds pressure to the overall decision making process, similar to how gangbangers pressure people into trying crack cocaine. Peer pressure controls the minds of the weak. All the equation takes then is a charismatic leader to convince everyone Primerica is a great deal, which is something they want to believe anyway or they wouldn't attend the interview. Look I have a BBA, slightly less than our friend with an MBA but not by much.
Truth be told, it takes very little business sense to realize when 5 people try to recruit you, it's probably not a very good opportunity. If it was they wouldn't need to, you'd come to them.

I had been to similar events in the past (when I was about 17 w/ no money) for Excel (a pyramid scheme/ communications company) so I knew this was a scam. As far as racial profiling, I saw more minorities including European immigrants at these gatherings than traditional white Americans. This was my actual observation, not debatable. This is probably because of the ludicrous compensation promises these types of organizations make.

Any money, even fast money is appealing when your chips are down AND ORGANIZATIONS LIKE THESE WILL TAKE WHAT LITTLE MONEY YOU HAVE LEFT. Economic slavery is still an American reality (its actually getting worse, even consuming the middle class- yes, white people too are suffering) and unscrupulous big companies like Primerica are poised to take advantage of those looking to make a living, especially when they don't know any better. They take what little hope people have and smash it in the name of corporate greed.
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#144 Consumer Suggestion

pyramid scheme, MLM or ponzi scheme.....

AUTHOR: Jay - (U.S.A.)

who gives a rats arse whether Crimerica fits the legal definition of these terms as defined by the FTC? having practiced law for almost 20 years i can vouch for the fact that while Crimerica may not legally be an MLM or Ponzi scheme they are absolutely guilty of the following:
1) deceptive and borderline fraudulent recruiting practices
2) stealing the "warm market" of each new recruit under the guise of training
3) sending out poorly educated and grossly undertrained newbies into the homes of unsuspecting middle america
4) selling overpriced term insurance (especially to woman) with a one size fits all canned sales pitch their reps claim is unique to crimerica
5) costing their clients tens of thousands of dollars in extra interest payments with their pathetic not so smart loan.
case closed!
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#145 UPDATE EX-employee responds

Crimerica's has a new FTC problem

AUTHOR: Stuart - (U.S.A.)

Looks like a new chapter is being written on pyramid schemes, MLMs, network marketing and the like. Please read on Kalani of Tucson.

I googled FTC along with ___________ and discovered the following website:

www.ftc.gov/os/comments/businessopprule/
522418-11732.pdf

The report at this website is dated July 17, 2006 about a proposed FTC rule referred to as "Business Opportunity Rule (R511993)."

This report records a Crimerican's representative
opinion about the proposed rule (not surprisingly Crimerica is against it). I excerpt portions of this report:

"But I appeal to you in this letter to reconsider the scope of the proposed FTC Rule so that it will not put legitimate business owners like me out of business." (note: it's Crimerica who owns the downline and clients of the RVP, not the RVP himself).

"Second, I believe that a 7-day 'cooling-off' period would be devasting to any business."

(as a further note Mike Evans makes statements in his letter that contradicts what's reported here on Ripoff Report or elsewheres). If you're in favor of this proposal, I'd recommend writing the
FTC and your congressman indicating your support.
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#146 Consumer Comment

Your Trustworthy Government at Work

AUTHOR: Thomas - (U.S.A.)

NPR related 15 minutes ago (or so) how a soldier in Iraq who had accidently received a CD containing pictures of prisoner abuse at Abul Garab decided that morality required him to provide same to the military authorities. This soldier was promised TOTAL ANONIMITY by the nice folk at the Pentagon; that ANONIMITY would then protect him from any retaliation.

What happened? Rumsfield blabberedd that soldier's name at a press conference. So the soldier, along with his wife and mother, is now in a witness-protection situation.

So you see... You CAN trust your government's word that it will protect you, and your interests!

So we should confidently accept the proffered Government definitions of MLM and Pyramid schemes and rest easy.....??
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#147 Consumer Comment

So the Duck wears a chicken suit?

AUTHOR: Thomas - (U.S.A.)

Then he had better beware Chic-Fil-A.

If a business model emphasizes fees for entry training and pushes the endless purchase of "motivational material" as well as recruitment less than emphasizing learning the product and how it can best benefit the customer, then we can view it as a Pyramid scheme.

I am a "preferred customer" of (((REDACTED BY ROR))) which allows me to buy AMSOIL products at wholesale, and many knowlegeable people unaffilliated with (((REDACTED BY ROR))) agree that (((REDACTED BY ROR))) offers the best lubrication products, bar none. And I pay $20 a year or less. (((REDACTED BY ROR))) University gives courses in tribology that are reasonable in cost, but these courses are neither 'pushed' nor 'required' in any way.

(((REDACTED BY ROR))) is a worthwile MLM company that sponsors winning racing teams that rely on (((REDACTED BY ROR))) products in racing stock cars, motocross, snowmobile racing, and power boat racing- to name a few categories.

I see no evidence or consensus that Primerica offers the best financial products, bar none. Quite the contrary, it would seem. And I do not ever see Primerica sponsoring anything.

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. In this case we removed an alleged competitors name
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#148 Consumer Suggestion

Real facts from the Federal Trade Commission

AUTHOR: Kalani - (U.S.A.)

Here are some facts from the FTC to insure that other people are using terms such as "Pyramid" and "MLM" currectly and not as scary words to capture the atention of other un-informed readers.

I am a small business owner who has been approched by recruiters and I also have a friend who works as a receptionist in a Primerica Office. I own a retail location and am a authorized dealer for a major satellite and cellular service provider.

I have noticed that a few people like to throw around words that carry a strong feeling and mis-label companies with terms such as "Pyramid".

Here are some facts, which are rare here, from the FEDERAL TRADE COMMISSION.

Here is the short for those who don't like to read on how to spot A "Pyramid or Ponzi Scheme"

1-Money ONLY FLOWS UP, NEVER FLOWS DOWN

2-There are no products or services exchanged, you only get paid for RECRUITING PEOPLE

3-You can never advance higher or make more money then the person who recruited you

Although there are concerns with Primerica I feel it is unfair to use these terms to describe them. You can also find more information at the FTC website "www.ftc.gov". Being a business owner and dealing with people I think that it is best said: "YOU CAN'T PLEASE ALL OF THE PEOPLE ALL OF THE TIME". In any business there are dishonest people so be sure to only do business with someone you trust and be very slow to commit. Just be sure to do your research and use credible sources such as the FTC.

THANK YOU
________________________

-MLM, also known as "network" or "matrix" marketing, are a way of selling goods or services through distributors. These plans typically promise that if you sign up as a distributor, you will receive commissions -- for both your sales of the plan's goods or services and those of other people you recruit to join the distributors. Multilevel marketing plans usually promise to pay commissions through two or more levels of recruits, known as the distributor's "downline."

If a plan offers to pay commissions for recruiting new distributors, watch out! Most states outlaw this practice, which is known as "pyramiding." State laws against pyramiding say that a multilevel marketing plan should only pay commissions for retail sales of goods or services, not for recruiting new distributors.

Why is pyramiding prohibited? Because plans that pay commissions for recruiting new distributors inevitably collapse when no new distributors can be recruited. And when a plan collapses, most people -- except perhaps those at the very top of the pyramid -- lose their money.

The Federal Trade Commission cannot tell you whether a particular multilevel marketing plan is legal. Nor can it give you advice about whether to join such a plan. You must make that decision yourself. However, the FTC suggests that you use common sense, and consider these seven tips when you make your decision:

Avoid any plan that includes commissions for recruiting additional distributors. It may be an illegal pyramid.

Beware of plans that ask new distributors to purchase expensive inventory. These plans can collapse quickly -- and also may be thinly-disguised pyramids.

Be cautious of plans that claim you will make money through continued growth of your "downline" -- the commissions on sales made by new distributors you recruit -- rather than through sales of products you make yourself.

Beware of plans that claim to sell miracle products or promise enormous earnings. Just because a promoter of a plan makes a claim doesn't mean it's true! Ask the promoter of the plan to substantiate claims with hard evidence.

Beware of shills -- "decoy" references paid by a plan's promoter to describe their fictional success in earning money through the plan.

Don't pay or sign any contracts in an "opportunity meeting" or any other high-pressure situation. Insist on taking your time to think over a decision to join. Talk it over with your spouse, a knowledgeable friend, an accountant or lawyer.

Do your homework! Check with your local Better Business Bureau and state Attorney General about any plan you're considering -- especially when the claims about the product or your potential earnings seem too good to be true.

____________________________

-What is a Pyramid Scheme and What is Legitimate Marketing?

Pyramid schemes now come in so many forms that they may be difficult to recognize immediately. However, they all share one overriding characteristic. They promise consumers or investors large profits based primarily on recruiting others to join their program, not based on profits from any real investment or real sale of goods to the public. Some schemes may purport to sell a product, but they often simply use the product to hide their pyramid structure.

There are two tell-tale signs that a product is simply being used to disguise a pyramid scheme: inventory loading and a lack of retail sales. Inventory loading occurs when a company's incentive program forces recruits to buy more products than they could ever sell, often at inflated prices. If this occurs throughout the company's distribution system, the people at the top of the pyramid reap substantial profits, even though little or no product moves to market.

The people at the bottom make excessive payments for inventory that simply accumulates in their basements. A lack of retail sales is also a red flag that a pyramid exists. Many pyramid schemes will claim that their product is selling like hot cakes. However, on closer examination, the sales occur only between people inside the pyramid structure or to new recruits joining the structure, not to consumers out in the general public.

A Ponzi scheme is closely related to a pyramid because it revolves around continuous recruiting, but in a Ponzi scheme the promoter generally has no product to sell and pays no commission to investors who recruit new "members." Instead, the promoter collects payments from a stream of people, promising them all the same high rate of return on a short-term investment.

In the typical Ponzi scheme, there is no real investment opportunity, and the promoter just uses the money from new recruits to pay obligations owed to longer-standing members of the program. In English, there is an expression that nicely summarizes this scheme: It's called "stealing from Peter to pay Paul." In fact some law enforcement officers call Ponzi schemes "Peter-Paul" scams. Many of you may be familiar with Ponzi schemes reported in the international financial news. For example, the MMM fund in Russia, which issued investors shares of stock and suddenly collapsed in 1994, was characterized as a Ponzi scheme.(2)

Both Ponzi schemes and pyramids are quite seductive because they may be able to deliver a high rate of return to a few early investors for a short period of time. Yet, both pyramid and Ponzi schemes are illegal because they inevitably must fall apart. No program can recruit new members forever. Every pyramid or Ponzi scheme collapses because it cannot expand beyond the size of the earth's population.(3) When the scheme collapses, most investors find themselves at the bottom, unable to recoup their losses.

Some people confuse pyramid and Ponzi schemes with legitimate multilevel marketing. Multilevel marketing programs are known as MLM's,(4) and unlike pyramid or Ponzi schemes, MLM's have a real product to sell. More importantly, MLM's actually sell their product to members of the general public, without requiring these consumers to pay anything extra or to join the MLM system. MLM's may pay commissions to a long string of distributors, but these commission are paid for real retail sales, not for new recruits.
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#149 UPDATE EX-employee responds

Educational commentary to shiller Edgar (La Habra)

AUTHOR: Stuart - (U.S.A.)

"I said the others would push all the crap we know as cash value and not term." What about Citigroup, the parent of Crimerica?
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#150 Consumer Comment

Response

AUTHOR: Edgar - (U.S.A.)

Leroy-
You did not read my response obviously dumb***.
I said the others would push all the crap we know as cash value and not term. Maybe I got in contact with the wrong agencies, and maybe I'm a dumb*** for not doing a better search. For now though I am happy of where I am at.
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#151 Consumer Comment

The only company selling term

AUTHOR: Leroy - (U.S.A.)

Edgar says he bought primerica term because they were the only agency who didn't try to sell him something other than term insurance.

OH PUH-LEEEEZE!!!

Apparently Edgar never saw or heard the 1000s of radio, TV and newspaper ads from places selling term?
Edgar has a computer....apparently he never got on the internet and Googled term life insurance to see the 1000s of places he could buy term insurance (including mine). Apparently Edgar never opened his mail and got a solicitation for term life insurance? Hell, I got 2 in the mail just today.

Edgar, I'll ask you the same question Gary and Ron ducked.......if no one else but primerica pushes term, how come I can purchase software that tracks the term rates for 600 companies and updates the rates on the net every 2 weeks? If no other agencies were selling term...as you claim...wouldn't the software company that sells this service go out of business?? If no one is selling term would they have ever been able to get started selling their service in the first place?

Edgar is just mouthing the primerica line. He is a shill. Its easy to tell because what he says and the truth are diametrically opposed.
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#152 Consumer Comment

The only company selling term

AUTHOR: Leroy - (U.S.A.)

Edgar says he bought primerica term because they were the only agency who didn't try to sell him something other than term insurance.

OH PUH-LEEEEZE!!!

Apparently Edgar never saw or heard the 1000s of radio, TV and newspaper ads from places selling term?
Edgar has a computer....apparently he never got on the internet and Googled term life insurance to see the 1000s of places he could buy term insurance (including mine). Apparently Edgar never opened his mail and got a solicitation for term life insurance? Hell, I got 2 in the mail just today.

Edgar, I'll ask you the same question Gary and Ron ducked.......if no one else but primerica pushes term, how come I can purchase software that tracks the term rates for 600 companies and updates the rates on the net every 2 weeks? If no other agencies were selling term...as you claim...wouldn't the software company that sells this service go out of business?? If no one is selling term would they have ever been able to get started selling their service in the first place?

Edgar is just mouthing the primerica line. He is a shill. Its easy to tell because what he says and the truth are diametrically opposed.
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#153 Consumer Comment

The only company selling term

AUTHOR: Leroy - (U.S.A.)

Edgar says he bought primerica term because they were the only agency who didn't try to sell him something other than term insurance.

OH PUH-LEEEEZE!!!

Apparently Edgar never saw or heard the 1000s of radio, TV and newspaper ads from places selling term?
Edgar has a computer....apparently he never got on the internet and Googled term life insurance to see the 1000s of places he could buy term insurance (including mine). Apparently Edgar never opened his mail and got a solicitation for term life insurance? Hell, I got 2 in the mail just today.

Edgar, I'll ask you the same question Gary and Ron ducked.......if no one else but primerica pushes term, how come I can purchase software that tracks the term rates for 600 companies and updates the rates on the net every 2 weeks? If no other agencies were selling term...as you claim...wouldn't the software company that sells this service go out of business?? If no one is selling term would they have ever been able to get started selling their service in the first place?

Edgar is just mouthing the primerica line. He is a shill. Its easy to tell because what he says and the truth are diametrically opposed.
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#154 UPDATE EX-employee responds

Rebutting Crimerican Edgar (La Habra)

AUTHOR: Stuart - (U.S.A.)

Very simply when it walks like a duck and talk like a duck...

I'm still convinced that Edgar is working for Crimerica. It's hard to believe that someone who says he doesn't work for Crimerica (on his word only to on) comes trolling to Ripoff Report, then tells Jay to quit referring to Leroy about Crimerica's so-called S.M.A.R.T loan adding that Jay is Leroy's puppet and then says that me and Leroy post too much, which is how a Crimerican talks. Then this moron goes on to say we should get jobs to make something out of our lives. Finally he indicates he'll be ignoring our rebuttals and makes a false
promise about not coming back to Ripoff Report, yet this a$$wipe continues to post here.

Carve this into your brain for your next boring meeting pinhead:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#155 Consumer Suggestion

Reponse to stupid Stuart

AUTHOR: Edgar - (U.S.A.)

The answer to your question is no, I am not affiated with Primerica except as a customer. I am very happy with my Term life insurance policy. Just so that you have a better understanding of my position, the reason I went with them is because they were they only life agency that would not try to sell me anything but term. Everywhere I went wanted to give me some type of cash value policy, which is a scam itself. People save your own money no matter how you do. Yes there are better ways and I don't make a lot of money but I save every nickel I have. These guys have every right to post what they want but it is kind of funny the way they insult everyone that does not agree with them. I did the wrong thing by telling a couple of them to think for themselves and it showed me there mind set. Jay, Stuart, Leroy I have appreciated all of your insight and wish you all of the best in your endeavors!
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#156 UPDATE EX-employee responds

I am addressing the moronic Crimerican whipping boy - Edgar.

AUTHOR: Stuart - (U.S.A.)

Edgar of La Habra, you don't know when to quit when you're ahead. So what should we call you? Jerk, loser, shiller, liar, a$$wipe (which matches up with the overpriced toilet paper that Crimerica sells).

I don't see you denying that you're an agent for Crimerica. As far as rebuttals go I'll do them whenever appropriate and as often as I please (your rebuttals are embarassing Crimerica further).

"I simply wanted to let a couple of you guys know how it sounded to me being that I am not employed by Primerica." From Crimerica's perspective, the shillers are fond of saying that it's not a job, but an opportunity. So Edgar did you sign an IBA contract with this company, yes or no?

Edgar, do go on posting as I love taking Crimericans down several pegs. Here's some refreshment for your brain:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#157 Consumer Comment

I Almost Got Suckered

AUTHOR: Kay - (U.S.A.)

I just wanted to add that I was also called by Primerica to interview. I had to take a train 3 hours to get to where they were holding the meeting. When I arrived I noticed most of the people in the interview had their own businesses and were way out of my league. I am only a high school graduate with two years of college. I felt uncomfortable from the start. When the sales pitch started I knew it was a scam and I just couldn't wait to get out of there. I turned down the second interview and walked out. I'm glad I didn't fall for it even though I'm really desperate to find a new job. Reading this report just confirmed my suspicions.

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#158 Consumer Comment

More Correction Leroy

AUTHOR: Edwin - (Canada)

The original quote is

"Even if I only make an extra $1000 a month working 10 hrs or so (thats $100/hr not $5)"

Jason expects he can only put in 10 hours of work for the entire MONTH (not week) and make $1000 - hence explaining that $100/hr figure that he's dreaming about.
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#159 Consumer Comment

leroy corrects himself

AUTHOR: Leroy - (U.S.A.)

I meant to say "who would want to trust the financial future of their family to someone who only works at it 10 hours a WEEK", not 10 hours a day. Ten hours a day is more like it.
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#160 Consumer Comment

This argument over mortgages seems a mite silly....

AUTHOR: Thomas - (U.S.A.)

First, write your own equations in EXCEL and solve the scenarios for yourself. This is what I do ANY TIME a financial question arises for us. Should I retire? Work it out in EXCEL. Program in the effects of inflation and interest rates. What kind of mortgage at what interest rate? Solve it in EXCEL and see the total cost and TVM. If you cannot solve these problems in EXCEL, then you do not understand them.... they are pretty simple mathematics problems.

That said, obviously the lower the interest rate you PAY on borrowed money, the better off you are. Ever notice the glut of refi's when interest rates drop significantly accross the board after sustained periods of higher interest rates? Do you think that thousands of people suddenly have the "raging stupids"?

The corollary is that obviously the HIGHER the interest rate that you COLLECT on your money, the better off YOU are. Again, this should be a NO-BRAINER!

Now we have free cash in money market bank accounts, and those money market interest rates are very close to our mortgage interest rate. The secret here is that a house is an illiquid asset, and the only real way to free your money in a house is to sell it- but then you cannot live there! Which brings me to the next point:

Mortgage principal reductions are NOT credited by any bank until the bank actually GETS your mortgage payment. And guess what- when you make your mortgage payment then YOU are no longer collecting interest on that money in YOUR money market account (or where ever you have your money right then}, just as the bank holding your mortgage is no longer charging you interest on that small portion of your mortgage principal that you have just paid off. It tends to be a wash if the spread is less than 1%!

But if you are paying 7.75% mortgage interest rate when you could have a 6.00% mortgage interest rate then you ARE getting burned. Big time!

This does not require a PhD in advanced math. Just competence with EXCEL. So this arguement should not be necessary- just solve it in EXCEL.
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#161 Consumer Suggestion

jason, listen to leroy

AUTHOR: Jay - (U.S.A.)

jason, you are correct in assumingthat you could make 1K a month working only 10 hours a week, just not at primerica. if your RVP did not rape you of your commissions from your first 6 appts ( your warm market) you could have some breathing room while you learn the business.
your RVP is not being paid to "train" you, he/she is stealing your livlihood while convincing you all the great referrals you get are worth this invaluable training.
wake up and smell the fecal matter that is being thrown your way and save yourself the 26% interest you will be paying as you max out your credit cards over the next 6 months.
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#162 Consumer Comment

it ain't Wal Mart and Target either

AUTHOR: Leroy - (U.S.A.)

Jason....it ain't Wal Mart and Target either

When a person pays $3 more for a toaster at Target than Wal Mart charges for the same one, they are out $3. Maybe they are willing to exchange the $3 to shop in a nicer store. When you are talking about your family's financial security and future, its a far far different eqaution.

A 38 year old non-smoking healthy male paying $50 a month can purchase $138,000 more 20 year term insurance with an A++ rated carrier instead of primerica. You go ahead and try to tell me if he dies that $138,000 wouldn't make a HUGE difference to his family.

A 38 year old healthy single Mom paying $50 a month can buy almost THREE TIMES as much insurance from an A++ rated carrier than she can at primerica, or she can save almost $30 a month on premium for the same coverage. Tell me again how that equates to paying $3 more for a toaster at Target.

No matter how you cut it, no matter how you slice it, a 7.75% loan costs more than a 6% loan you could have qualified for instead. The difference there to the family is in the 10s of 1000s depending on loan size. Thats a tad more than the difference between Target and Wal Mart.

You're going to make $1000 a month part-time? OK. Lets say you can. When will you do market research? When will you do servicing? Why would a client want their financial future in the hands of someone only wanting to devote 10 hours a day to their business?

You said other companies have the same market model of having the trainer paid to train. Not hardly. The other companies PAY THE TRAINER TO TRAIN YOU. The trainee doesn't pay the trainer. The other companies want you to get the commission from your warm market to give you a head start in the biz. In contrast, A.L. Williams figured out a scheme in which he could get the agent's warm market for himself and then turn the guy out in the cold. In the one chance in 1,000 the guy sold something more than his few freinds and relatives then cool. If not, so what?

Jason,.... primerica looks at you as cannon fodder and a source for 6 sales visits. Anything else you do for them is gravy. They have NOTHING invested in you.

Finally, you compare primerica to Target? I compare primerica to the barker at the carnival game who tries to get you to spend $30 attempting to win a $4 stuffed animal.

"Hey you, buddy, show the little lady that interest rates don't matter..only time in debt matters".
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#163 Consumer Comment

nope, it ain't the simple interest

AUTHOR: Leroy - (U.S.A.)

Jason- nope, it ain't the simple interest

If you have the same payment plan, whether monthly or biweekly, the maximum amount of interest saved by a simple interest plan over a scheduled plan will be one month's interest. On a $250,000 loan this amounts to about $2100. The difference in interest you pay when you take a 7.75% loan over a 6.00% loan you could have qualified for instead is about $400 a month. That means in 5 months all POSSIBLE difference between scheduled and simple interest is made up..

In the canned sales pitch primerica delivers to its prospective clients when pitching them a loan there is a basic fallacy in the comparison they use. They show them what an accelerated payment plan does as opposed to a non-accelerated plan, and then try to lay the credit for ther savings to the sheduled versus simple interest issue when in reality the savings is due to paying 13 payments a year instead of 12.

fallacy number two is that primerica pretends they are the only institution that credits payments on the day recieved. Many do that. All you have to do is look for one when you are shopping loans. Just ask the question.

The basic math says no matter what you do, how you wrap it or how you package it a 7.75% loan will cost the consumer more than a 6% loan.

That doesn't even take into account the exorbitant fees primerica charges for their loans compared to others AND the prepayment penalty which has all but disappeared in the rest of the marketplace.

BTW....my math was done for me by a tenured math/science professor at College of the Canyons in Santa Clarita, not some insurance company marketing department.

p.s- you can also duplicate a biweekly payment plan by simply adding 8.33% of the principle and interest payment to each monthly payment. There is no need to purchase a biweekly plan through anyone or to pay $6,000 to refinance in order to get one.
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#164 Consumer Comment

Jason making extra $1,000 a month?

AUTHOR: Edwin - (Canada)

Jason, you're new to Primerica. I don't know how you got the impression that you can make an extra $1000 a month by only working 10 hrs or so. If your uplines lead you to believe that you can make that much amount by only working 10 hours, you have been grossly deceived. And for you to give the public the impression that you can make that much amount by only putting in 10 hours, you're grossly deceiving the public.

To make money at Primerica - especially when you've just started - you need to work extremely hard. Don't be suprised that you need to put in 40 to 60 hours a week (ie over 160 to 240 hours in total for a month) before coming close to making $1,000 in gross income a month - minus your business expense and charge backs.

Good luck in choosing a career that is best for you and your clients.
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#165 Consumer Suggestion

jason in st pete

AUTHOR: Jay - (U.S.A.)

youre no different than any other crimerica newbie: full of piss and vinegar while swallowing the b.s. your upline fed you hook line and sinker.

if you can make $1000 a month working 10 hours you will be the first crimerica newbie to do so. kindly post your evidence of this when it happens.

like most crimerica first time shillers to this website we will not hear from you in 6 months as your credit card debts pile up and your family and friends avoid you like the plague.
have a nice life.
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#166 UPDATE Employee

Response to Leroy's Mortgage numbers

AUTHOR: Jason - (U.S.A.)

Finally a rebuttal to Leroy's mortgage numbers!

Leroy, the reason you keep coming up with a huge gap is because it is not JUST the bi-weekly rate (which you are right, it can be done by anyone or the person taking out the loan), it is WHEN those payments on that loan are applied.

On a scheduled loan, even if the payments are taken bi-weekly, both payments are applied at the beginning of the next month which only adds that one extra payment a year.

In a SIMPLE loan, the payment is APPLIED twice a month. What this means is that each payment actually pays off more principal then a scheduled loan does. Now, with less principal, the interest lowers as well. So, over time the interest WILL not be the same amount as a scheduled loan over time, that is why your numbers come out higher for the higher rate. Another good point about this type of loan. When you say people usually sell after 5 - 7 years, this loan helps them more. Since they are paying off more principal, in 5-7 they have typically payed of 3 times as much principal with a SIMPLE loan vice a schedules loan so are in a better position to collect that money on a sale.

You use your equation to do the math when the payment is APPLIED to the loan bi-weekly and you will see I am correct. Maybe I'll post some numbers up if you guys aren't willing, but I am loathe to bump this site again. :(

Jason, St. Pete
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#167 UPDATE Employee

Additional Response

AUTHOR: Jason - (U.S.A.)

Greetings,

After spending a better part of the evening reading this thread, I find I can't get to sleep without adding some comments.

I'm fairly new at Primerica. In the future I may decide to go elsewhere but at the time they are providing an opportunity that will allow me to help others and make extra money. Even if I only make an extra $1000 a month working 10 hrs or so (thats $100/hr not $5) it will really help my family out.

Concerning rates - For the person that has the software that has rates for 600 companies. When you choose the lowest rate are you posting on here about the other 599 companies? Probably not. What you and Leroy keep saying is that you are Wal-Mart and we are Target. In my travels, I still see plenty of people shopping at Target.

Concerning the $199 - Amazing the people complaining about this. In FL, it costs almost $500 to get your STATE REQUIRED license. So, I pay $199 and Primerica pays the rest. Worst case I take my license the day after I get it and work and train with Skull's company instead. Big risk, eh?

Concerning Traing visits - 2 points here.
1)The trainer is getting the commission because they are TRAINING the person. This happens in a lot of business models. Trainers get paid to train. My wife is a bartender and has worked multiple places. When she trains new people she watches and points things out and gets the tips for the night. I'm not sure but I don't think the American Legion has been reported on this site for that practice, nor have the other bars she has worked at.

2)Yes, the trainer is getting the commission for the newbie's first 6 appointments. At that point, since those people have had their questions answered by a knowledgeable person and hopefully been helped in some way they should have no problem giving referrals to the new person. In fact, at the end of the training, the trainer asks "Would you have any trouble refering people to "Newbie" in the future." So, instead of initially floundering, they already will have MORE then the 6 initial referrals.

Unfortunately, it seems 99% of the people had an issue with the OP meeting and never really experienced the company. Unfortunately (and I had an issue with this myself) people are embaressed by enthusiasm. Successful people ARE enthusiastic.

I'll leave with a few of my favorite quotes from Ralph Waldo Emerson--

Nothing great was ever achieved without enthusiasm.

People only see what they are prepared to see.

"No successful man ever complains of want of opportunity."

Have a good evening (or morning by now! ;) )

Jason - St. Pete, FL
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#168 Consumer Suggestion

poor edgar

AUTHOR: Jay - (U.S.A.)

i was merely pointing out that your borderline retarded response was typical of the high school dropouts crimerica seeks out for "employment" at the Orange Julius counter of your local shopping mall. your recent post leads me to conclude that you have what it takes to be one of crimerica's elite, i.e. one of the 10,000 RVP's chanting "amen" at your tuesday night meeting, bragging about your riches and then slipping out the back door into your beat up 88 chevy mailibu parked just around the corner out of sight of the local repo man. have a nice evening!
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#169 Consumer Comment

Edgar

AUTHOR: Leroy - (U.S.A.)

Various aged and classifications of males paying $50 a month for 20 year term life insurance can purchase;

38 healthy non smoker can purchase $350,000 from primerica or $488,000 from another A+ rated carrier. What possible service can primerica give that 38 year old that would make up for his family getting $138,000 less if he died?

44 healthy smoker can buy $55,000 from primerica or $144,000 from an A++ rated carrier. What possible service can primerica give that would make up an $89,000 difference to his family if he died.

Its worse for females.

44 year old healthy smoking female can buy $55,000 from primerica or $194,000 from an A+ rated carrier. What possible service can primerica give that would make up a $139,000 difference to her family if she died

38 year old healthy non-smoking female can purchase $350,000 death benefit from primerica or
ALMOST $ONE MILLION from an A+ rated carrier. She could also buy the same $350,000 for $22 a month from that A+ rated carrier. Once again, what possible service could primerica offer etc......

Why any female would buy from primerica is beyond me. How any female could sell primerica to another female and still sleep at night is beyond me.

Bottom line-----saying you are happy with your primerica term in reality means you just don't feel like going out and finding a good deal instead....and thats OK. I just wanted to illustrate how much more they are than the other A+ and A++ rated carriers.
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#170 Consumer Comment

Jay you typical East Coast Jack***

AUTHOR: Edgar - (U.S.A.)

I wasn't going to reply but being called a moron by Jay really ticked me off. I got on here to see what insight you guys could give me and than you insult me. I simply wanted to let a couple of you guys know how it sounded to me being that I am not employed by Primerica. I wanted a simple term insurance policy which I am happy with. Jay if you truly want to make a difference than you need to choose your words wisely. Trying to make yourself wiser than are will never get you anywhere, but if you are happy being a joke than go ahead.
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#171 Consumer Comment

RVP takes commissions

AUTHOR: Leroy - (U.S.A.)

I do the SIMPLE IRA for a company near Modesto. I was just talking to an employee who wanted to sign up. He brought up primerica. He signed up with the Modesto Office. He showed me his primerica business card he still kept with him. He told me how when he first signed up he had taken his RVP out to meet his cousins. He said the RVP sold them insurance, and then later the RVP then explained why he couldn't share the commissions because with this new agent because he hadn't gotten licensed yet. This gentleman said had he been told that beforehand he would have waited until he was licensed. He was ticked and didn't go on with primerica. Apparently this couldn't have been Tom in Modesto's office because he said they didn't do that sort of thing at his office.

When I showed him the life rates he and his wife could qualify for he said a bad word.
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#172 Consumer Comment

Crimerica

AUTHOR: Andrei - (U.S.A.)

I have been reading this report for last couple of days as my wife started going through Crimerica training weeks ago, her RVP also wanted to meet with me, to my understanding the purpose of this meeting was to "make sure I am not a wall to her success, and I support her 100 percent" it was then I was introduced to a lot of smoke in mirrors discussed by many in this report,

- "we are the largest in business"
- "we are the best in business"
- "no one can offer deals that me make"
- "we are part of citigroup, again and again"
- "because of above we have power to help people like no one else, even if someone out there wanted help people as much as we do they would not be able to do so as they are not biggest and best and don't have our products"
- "credit cards are evil and everyone else is evil except us"
- "regular jobs are evil (job = just over broke) no one became millionaire working regular job"
- "I don't like to discuss my finances but I made this $$$$ just this month"

My 2 cents I wanted to through in to this report:

First of all I wanted to thank Leroy, Stuart and Jay for dedication to this report busting myths Crimericans will have you belive. Your efforts helped me and are highly appreciated.

Then subjects I wanted to touch on :

- $199 to get hired that covers some of your training cost, certification, background check and etc...
- Where else are you going to get financial training for 199?"

$199 to get hired? you got to be mad, the point of getting hired is to get money not to pay it. Anyone who remotely knows anything about business will tell you that hiring for a job is investment on company's part, even for lowest end job company investment may be well over $199. That is why good companies go through extensive hiring precess before saying "you are hired" and not just hire everybody of the street and make them cover some if not all of the hiring costs. The company that I am currently employed with paid around 20K for my training costs upon hiring.

Parallel to my wife's training I have purchased Suze Orman used book and paid $12, ($184 ahead in my finance educating)
asking my wife some questions presented in the book almost always resulted in "not sure we didn't discuss this in training" I am going to order a couple more books discussed on this report, I feel like that the rest of $199 is going to go far for my finance education.

- All companies have customers/employees bragging about them not just Crimerica

Yes, but how many company names that you put in the search engine will return rip off report as a 2ND LINK (search engine listings are mainly based on link popularity), I tried searching for my employer (large international company with 60k+ employees) on rip off report site and only found single posting.

My wife told me that RVP wants to talk to me again, this time I am going armed with term quotes for comparison, several books and some stuff I printed from this report.
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#173 Consumer Comment

Responding to Robert

AUTHOR: Leroy - (U.S.A.)

First of all, I'll give you the name and the phone number of the investigator responsible for bringing down that office you say never existed. You can tell him it never happened. He lives in Atwater. BTW..Modesto phone book lists 4 primerica offices, not 8 as you claim.

Robert says no one is ever pressured to give up their warm market
<<<<<
Robert says the Financial Needs Analysis is based on client's needs
<<<<< book and tell people the interest rate on a loan doesn't matter. The fact is EVERYONE gets offered the same solution after doing the Financial Needs Analysis (aka canned sales pitch). That solution is;
a. buy overpriced term insurance
b.) invest in load mutual funds
c.) take a really high interest loan.
The only thing that ever changes is the name on the FNA and the numbers inserted.

Robert says Primerica term insurance isn't overpriced.
<<<<< Lets take a look.
A 41 year old male non-smoker with $33 a month to budget for life linsurance can buy;
$250,000 20 year term from primerica OR
$350,000 20 year term from A++ rated company.
If he dies would that $100,000 difference help this middle class person's family?

Its worse for women. $33 a month buys;
$250,000 primerica 20 year term
$425,000 from A++ rated company

However, let me put it to you real simply. I have software that quotes the term rates for almost 600 companies including primerica. primerica rates consistently rank in the worst 1/3rd of companies for men and in the worst 2 or 3 companies for women. Its overpriced. Go to primerica's own metamorphosis site and primerica will tell you its overpriced and why it has to be overpriced (to support a bloated multilayered commission structure).

Now, before you give the common primerica response of "paying for value added service" just a few months ago I replaced primerica term insurance in Modesto for a couple in their early 40s. Even though they had been with primerica seven years I was still able to sell them term insurance from an A++ rated company and save them $400 a year. They also said they hadn't seen or heard from their primerica rep or anyone else from primerica in the intervening 7 years.....and this despite the fact that their are either 8 or 4 primerica offices in Modesto (depending on whether you believe Robert or the phone book white pages.

Robert gave some ratings sites........
<<<<<
Robert gave some names of mutual fund families primerica has selling agreements with as a response to my calling them "so-so".
<<<<< The "so-so" refers to the fact they are all loaded funds. Even Suze orman and dave ramsey, 2 people primericans love to quote about term insurance, say you should only buy no-load funds.

Robert asked if someone isn't better off having a 9% second mortgage rather than revolving credit at 12-21% or students loans.
<<<<< Dave Ramsey and Clark Hoover, two radio talk show financial hosts, both say NOOOOOOOOOOOOOOO!!!!!!!!! What they say is the family is better off first applying effort in to getting the highest interest debt paid off first, then the next highest, so forth and so on. They say elimintaing those debts one at a time is far more advisable than rolling consumer debt into home debt and eating up your equity. They accurately point out if you roll a car loanj into your home loan you will be making payments on a car long after its taken to a junk yard...and thats stupid! By the way, even if you think they are better off with the 2nd mortgage, they would still be better off with an 8% 2nd mortgage (the most common rate out there right now) than a bloated 9% 2nd mortgage.

Robert says he did research and still took primerica"
<<<< " I saw that I could take the primerica philosophies and execute them exactly the same away from primerica, get paid more, charge my client's less, build just as large a downline, and pay them more too, but I'll stick with primerica because.........................?"

Here, let me fill in the blank......"I, Robert", stuck with primerica because I'm too lazy to know anything about more than one insurance company's overpriced products, because I want my clients to be underinsured and overpremiumed while I am undercompensated and because I didn't want to admit to myself that I'd feel like an unprofessional mook after finding out what is really out there instead of just swallowing the company line without question".

Robert, I do stuff in Modesto too.....may we some day cross swords.
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#174 UPDATE EX-employee responds

Crimerica's version of Abbott & Costello whipping boys

AUTHOR: Stuart - (U.S.A.)

Robert from Modesto has been around for awhile, off and on. I start with Crimerica's latest whipping boy, Edgar from La Habra. Quote:

"I am a customer of Primerica or as some of you call it Crimerica...." All Crimerican licensed agents are customers since they're expected to show their support and belief in Crimerica (can you imagine any consumer sales agent not owning their company's product).

"Leroy and Stuart you have too many rebuttals on this site..." Too bad for you, moron. Me, Leroy and many others have the right to post rebuttals to the shillers on this website. Who are you to determine who can post on here or not? If you have a problem with that buddy, take it up with the EDitor.

"Get a job make something of your life." You mean like that door-to-door job peddling Crimerica's trash policy to make a magnificent $2,300 a year before chargebacks and business expense that you have? (oh I forgot that you can also hawk that trash at shopping malls and job fairs too).

"This will be the only time that I look at this website...." Promises, promises however I wouldn't
mind you coming back as you're an embarassment to Crimerica.

On to Robert:

"3) Follow the training system.. which is..go on 3 presentations BEFORE you start your prelicencing school for life insurance..." Now Robert is changing his story in midstream. Observe:

"..you don't HAVE to go on 3 presentations before school.." First he's talking about going on three
presentations before licensing and now, from the other side of his mouth, he says you don't have to
go. However in either case, YOU WILL LOSE COMMISSION because you're not licensed. "Also a new rep does make money during his/her 3 field training AND get their $199 back." Only when you have a license at the time. Otherwise you lose commission which isn't made up so Robert is lying.

"you will be at a 25% contract level instead of 50%" More nonsense from Robert as he knows Crimerica will never pay more than 25% commission to any agent.

""you can't get your $199 back.. but if you go on 3 presentations and then decide you don't want to do PFS then you will get $159 ($199 - $40 which is non-refundable)." This is false. You can get back $159 at any time, whether or not you do the presentations and there are reports of people getting back the entire $199, but you have to put pressure on Crimerica (possibly small claims court if you need to). > Not True.." Sorry Robert, you're lying on this one too (scan the Ripoff Reports and other websites).

To all the Ripoff Report visitors:

All purported representatives from Crimerica and other companies are simply shillers, plain and simple. What we really need are authorized representatives from Crimerica who are authorized to speak on Crimerica's behalf, otherwise you'll
continue to hear from these shillers whose words
don't amount to a hill of beans.

For Edgar and Robert, burn this into your brains:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#175 UPDATE EX-employee responds

Crimerica's version of Abbott & Costello whipping boys

AUTHOR: Stuart - (U.S.A.)

Robert from Modesto has been around for awhile, off and on. I start with Crimerica's latest whipping boy, Edgar from La Habra. Quote:

"I am a customer of Primerica or as some of you call it Crimerica...." All Crimerican licensed agents are customers since they're expected to show their support and belief in Crimerica (can you imagine any consumer sales agent not owning their company's product).

"Leroy and Stuart you have too many rebuttals on this site..." Too bad for you, moron. Me, Leroy and many others have the right to post rebuttals to the shillers on this website. Who are you to determine who can post on here or not? If you have a problem with that buddy, take it up with the EDitor.

"Get a job make something of your life." You mean like that door-to-door job peddling Crimerica's trash policy to make a magnificent $2,300 a year before chargebacks and business expense that you have? (oh I forgot that you can also hawk that trash at shopping malls and job fairs too).

"This will be the only time that I look at this website...." Promises, promises however I wouldn't
mind you coming back as you're an embarassment to Crimerica.

On to Robert:

"3) Follow the training system.. which is..go on 3 presentations BEFORE you start your prelicencing school for life insurance..." Now Robert is changing his story in midstream. Observe:

"..you don't HAVE to go on 3 presentations before school.." First he's talking about going on three
presentations before licensing and now, from the other side of his mouth, he says you don't have to
go. However in either case, YOU WILL LOSE COMMISSION because you're not licensed. "Also a new rep does make money during his/her 3 field training AND get their $199 back." Only when you have a license at the time. Otherwise you lose commission which isn't made up so Robert is lying.

"you will be at a 25% contract level instead of 50%" More nonsense from Robert as he knows Crimerica will never pay more than 25% commission to any agent.

""you can't get your $199 back.. but if you go on 3 presentations and then decide you don't want to do PFS then you will get $159 ($199 - $40 which is non-refundable)." This is false. You can get back $159 at any time, whether or not you do the presentations and there are reports of people getting back the entire $199, but you have to put pressure on Crimerica (possibly small claims court if you need to). > Not True.." Sorry Robert, you're lying on this one too (scan the Ripoff Reports and other websites).

To all the Ripoff Report visitors:

All purported representatives from Crimerica and other companies are simply shillers, plain and simple. What we really need are authorized representatives from Crimerica who are authorized to speak on Crimerica's behalf, otherwise you'll
continue to hear from these shillers whose words
don't amount to a hill of beans.

For Edgar and Robert, burn this into your brains:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#176 UPDATE EX-employee responds

Crimerica's version of Abbott & Costello whipping boys

AUTHOR: Stuart - (U.S.A.)

Robert from Modesto has been around for awhile, off and on. I start with Crimerica's latest whipping boy, Edgar from La Habra. Quote:

"I am a customer of Primerica or as some of you call it Crimerica...." All Crimerican licensed agents are customers since they're expected to show their support and belief in Crimerica (can you imagine any consumer sales agent not owning their company's product).

"Leroy and Stuart you have too many rebuttals on this site..." Too bad for you, moron. Me, Leroy and many others have the right to post rebuttals to the shillers on this website. Who are you to determine who can post on here or not? If you have a problem with that buddy, take it up with the EDitor.

"Get a job make something of your life." You mean like that door-to-door job peddling Crimerica's trash policy to make a magnificent $2,300 a year before chargebacks and business expense that you have? (oh I forgot that you can also hawk that trash at shopping malls and job fairs too).

"This will be the only time that I look at this website...." Promises, promises however I wouldn't
mind you coming back as you're an embarassment to Crimerica.

On to Robert:

"3) Follow the training system.. which is..go on 3 presentations BEFORE you start your prelicencing school for life insurance..." Now Robert is changing his story in midstream. Observe:

"..you don't HAVE to go on 3 presentations before school.." First he's talking about going on three
presentations before licensing and now, from the other side of his mouth, he says you don't have to
go. However in either case, YOU WILL LOSE COMMISSION because you're not licensed. "Also a new rep does make money during his/her 3 field training AND get their $199 back." Only when you have a license at the time. Otherwise you lose commission which isn't made up so Robert is lying.

"you will be at a 25% contract level instead of 50%" More nonsense from Robert as he knows Crimerica will never pay more than 25% commission to any agent.

""you can't get your $199 back.. but if you go on 3 presentations and then decide you don't want to do PFS then you will get $159 ($199 - $40 which is non-refundable)." This is false. You can get back $159 at any time, whether or not you do the presentations and there are reports of people getting back the entire $199, but you have to put pressure on Crimerica (possibly small claims court if you need to). > Not True.." Sorry Robert, you're lying on this one too (scan the Ripoff Reports and other websites).

To all the Ripoff Report visitors:

All purported representatives from Crimerica and other companies are simply shillers, plain and simple. What we really need are authorized representatives from Crimerica who are authorized to speak on Crimerica's behalf, otherwise you'll
continue to hear from these shillers whose words
don't amount to a hill of beans.

For Edgar and Robert, burn this into your brains:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#177 UPDATE Employee

Hmmm.. ??

AUTHOR: Robert - (U.S.A.)

It seems to me people on this site are twisting my words around..

Stuart wrote;


1) go on 3 presentations BEFORE you start your prelicencing school for life insurance (why?..." Why? Because Robert knows that unlicensed agents don't get paid any commission so it means more for
him and his upline and NOTHING for you. (in other words Robert wants to raid YOUR warm market).
-> Not true.. you don't HAVE to go on 3 presentations before school.. As a matter of fact it will be more financially beneicial for me if you DID go to school BEFORE you went out on your field training because you will be at a 25% contract level instead of 50% contract level. Also a new rep does make money during his/her 3 field training AND get their $199 back.

2) "you can't get your $199 back.. but if you go on 3 presentations and then decide you don't want to do PFS then you will get $159 ($199 - $40 which is non-refundable)." This is false. You can get back $159 at any time, whether or not you do the presentations and there are reports of people getting back the entire $199, but you have to put pressure on Crimerica (possibly small claims court if you need to).

-> Not True..

Leroy wrote;

1) BTW.....I didn't know primerica was active in Modesto again. It had its office there shut down several years ago by the D.O.I. As I understand There were two brothers running it who did some bad stuff.

-> Not True.. There are 8 offices in the Modesto area and have been here for at least 15 years.. And has NEVER been under investigation..

2) Most RVPs try to get their new recruit to subject their warm market to them first so they can reap any commissions made while during the period it is illegal for the recruit to recieve a commission.

-> Not True... Our business, just like yours, when it comes to training a new rep, is more easily done when you can get referrals from people you know.. That is in ANY commissioned based profession.. Besides, we do 100% right (it does not matter to me what you say about that) and therefore, who would you want to help first, those you care about or a stranger? hmm...

3) a person can get back $159 of his $199 initial fee to primerica IF the recruit takes someone to visit three people.

-> Not True. You don't have to go on ANY appointments to get the $159 back. As a matter of fact, in my office, if a person is unable to begin training or attend school within a reasonable time period, we ENCOURAGE and ASSIST them in getting the refund back from the company.

4) The FNA has no respect for the person being subjected to it. The FNA assumes the client is some poor wretch who really doesn't know what he wants "so by god primerica will tell him what he wants."

-> Not True.. The FNA is based on a Clients financial goals NOT Primerica's. And our FNA's have received high accolades from several financial experts such as Nick Murray (What every mutual fund investor needs to Know) and David Bach (Start Late Finish Rich.

5) Pure and simple, if you want to subject your freinds and family to a canned sales pitch

-> There are no "canned sales pitch". I sit down with clients and listen to WHAT THEY WANT.. and I put a game plan together for them to help them reach their goals.

6)designed to sell overpriced term insurance.

-> I have yet to find where we are so "overpriced". I have been on many Term life insurance websites and have found us to be in the top 10, often top 5, when it comes to lower price.. please direct me to the website you are comparing us to so I can check it out for myself.

Also here are some 3rd party websites that give our insurance great ratings.. check them out if you dare... (((ROR REDACTED LINKS FOR SECURITY PURPOSES))) (top 50 Term Life Insurance).. Hmmmm.. you might say these companies are rip offs too..

7) so-so mutual funds..

-> We offer 13 different TOP mutual fund companies, ie.. Legg Mason, Fidelity, Van Kampen, etc.

8)GROSSLY OVERPRICED loans
-> Not True.. We
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#178 Consumer Comment

If It Walks Like A Duck, Primerica Says Its An Eagle

AUTHOR: Richard - (U.S.A.)

MLM Watch Home Page

Ten Big Lies of Multilevel Marketing
Robert L. Fitzpatrick
The multilevel marketing (MLM) field grows, and its member companies multiply. Solicitations to join seem to be everywhere. Its promoters would like you to believe that it is the wave of the future, a business model that is gaining momentum, growing in acceptance and legitimacy, and will eventually replace most other forms of marketing. Many people are led to believe that success will come to anyone who believes in the system and adheres to its methods.

Unfortunately, the MLM business model is a hoax that is hidden beneath misleading slogans. Calling it a "great business opportunity" makes no more sense than calling the purchase of a lottery ticket a "business venture" and winning the lottery a "viable income opportunity for everyone." MLM industry claims of distributor income potential, its glorified descriptions of the "network'" business model, and its prophecies of dominating product distribution have as much validity in business as UFO sightings do in the realm of science.

The very legality of the MLM system rests tenuously upon a single 1979 court ruling on one company. The guidelines for legal operation set forth in that ruling are routinely ignored by the industry. Lack of governing legislation or oversight by any designated authority also enables the industry to endure despite occasional prosecutions by state attorneys general or the FTC.

MLM's economic scorecard is characterized by massive failure rates and financial losses for millions of people. Its structure in which positions on an endless sales chain are purchased by selling or buying goods is mathematically unsustainable, and its system of allowing unlimited numbers of distributors in any market area is inherently unstable. MLM's espoused core business -- personal retailing -- is contrary to trends in communication technology, cost-effective distribution, and consumer buying preferences. The retailing activity is, in reality, only a pretext for the actual core business, which is enrolling investors in pyramid organizations that promise exponential income growth.

As in all pyramid schemes, the incomes of those distributors at the top and the profits to the sponsoring corporations come from a continuous influx of new investors at the bottom. Viewed superficially in terms of company profits and the wealth of an elite group at the pinnacle of the MLM industry, the model can appear viable to the uninformed, just as all pyramid schemes do before they collapse or are prosecuted by authorities.

The growth of MLM is the result of deceptive marketing that plays upon treasured cultural beliefs, social and personal needs, and some economic trends, rather than its ability to meet any consumer needs. The deceptive marketing is nurtured by a general lack of professional evaluation or investigation by reputable business media. Consequently, there is widespread belief that MLM is a viable business investment or career choice for nearly everyone and that the odds of financial success in the venture are comparable or better than other employment or business ventures.

MLM's true constituency is not the consuming public but hopeful investors. The market for these investors grows significantly in times of economic transition, globalization, and employee displacement. Promises of quick and easy financial deliverance and the linking of wealth to ultimate happiness also play well in this market setting. The marketing thrust of MLM is directed to prospective distributors, rather than product promotions to purchasers. Its true products are not long distance phone services, vitamins, or skin creams, but the investment propositions for distributorships which are deceptively portrayed with images of high income, low time requirements, small capital investments, and early success.

Here are ten lies I have identified during more than 20 years of observing the MLM marketplace:

Lie #1: MLM offers better opportunities than all other conventional
business and professional models for making large amounts of money.
Truth: For almost everyone who invests, MLM turns out to be a losing financial proposition. Fewer than 1% of all MLM distributors ever earn a profit and those earning a sustainable living at this business are a much smaller percentage still.

Extraordinary sales and marketing obstacles account for much of this failure, but even if the business were more feasible, sheer mathematics would severely limit the opportunity. The MLM business structure can support only a small number of financial winners. If a 1,000-person downline is needed to earn a sustainable income, those 1,000 will need one million more to duplicate the success. How many people can realistically be enrolled? Much of what appears as growth is in fact only the continuous churning of new enrollees. The money for the rare winners comes from the constant enrollment of armies of losers. With no limits on numbers of distributors in an area and no evaluation of market potential, the system is also inherently unstable.

Lie #2: Network marketing is the most popular and effective new way to bring products
to market. Consumers like to buy products on a one-to-one basis in the MLM model.

Truth: Personal retailing -- including nearly all forms of door-to-door selling -- is a thing of the past, not the wave of the future. Retailing directly to friends on a one-to-one basis requires people to drastically change their buying habits. They must restrict their choices, often pay more for goods, buy inconveniently, and engage in potentially awkward business relationships with close friends and relatives. In reality, MLM depends on reselling the opportunity to sign up more distributors.

Lie #3: Eventually all products will be sold by MLM. Retail stores, shopping malls,
catalogs and most forms of advertising will soon be rendered obsolete by MLM.

Truth: Fewer than 1% of all retail sales are made through MLM, and much of this is consists of purchases by hopeful new distributors who are actually paying the price of admission to a business they will soon abandon. MLM is not replacing existing forms of marketing. It does not legitimately compete with other marketing approaches at all. Rather, MLM represents a new investment scheme couched in the language of marketing. Its real products are distributorships that are sold through misrepresentation and exaggerated promises of income. People are buying products in order to secure positions on the sales pyramid. The possibility is always held out that you may become rich if not from your own efforts then from some unknown person ("the big fish") who might join your "downline."

MLM's growth does not reflect its value to the economy, customers, or distributors, but the high levels of economic fear, insecurity, wishes for quick and easy wealth. The market dynamics are similar to those of legalized gambling, but the percentage of winners is much smaller.

Lie #4: MLM is a new way of life that offers happiness and fulfillment.
It provides a way to attain all the good things in life.

Truth: The most prominent motivational themes of the MLM industry, as shown in industry literature and presented at recruitment meetings, constitute the crassest form of materialism. Fortune 100 companies would blush at the excess of promises of wealth, luxury, and personal fulfillment put forth by MLM solicitors. These appeals actually conflicts with most people's true desire for meaningful and fulfilling work at something in which they have special talent or interest.

Lie #5: MLM is a spiritual movement.

Truth: The use of spiritual concepts like prosperity consciousness and creative visualization to promote MLM enrollment, the use of words like "communion" to describe a sales organization, and claims that MLM fulfills Christian principles or Scriptural prophecies are great distortions of these spiritual practices. Those who focus their hopes and dreams upon wealth as the answer to their prayers lose sight of genuine spirituality as taught by religions. The misuse of these spiritual principles should be a signal that the investment opportunity is deceptive. When a product is wrapped in the flag or in religion, buyer beware! The "community" and "support" offered by MLM organizations to new recruits is based entirely upon their purchases. If the purchases and enrollment decline, so does the "communion.'"

Lie #6: Success in MLM is easy. Friends and relatives are the natural prospects.
Those who love and support you will become your life-time customers.

Truth: The commercialization of family and friendship and the use of"'warm leads" advocated in MLM marketing programs are a destructive element in the community and very unhealthy for individuals involved. People do not appreciate being pressured by friends and relatives to buy products. Trying to capitalizing upon personal relationships to build a business can destroy one's social foundation.

Lie #7: You can do MLM in your spare time. As a business, it offers the greatest flexibility
and personal freedom of time. A few hours a week can earn a significant supplemental income
and may grow to a very large income, making other work unnecessary.

Truth: Making money in MLM requires extraordinary time commitment as well as considerable personal skill and persistence. Beyond the sheer hard work and talent required, the business model inherently consumes more areas of one's life and greater segments of time than most occupations. In MLM, everyone is a prospect. Every waking moment is a potential time for marketing. There are no off-limit places, people, or times for selling. Consequently, there is no free space or free time once a person enrolls in MLM system. While claiming to offer independence, the system comes to dominate people's entire life and requires rigid conformity to the program. This is why so many people who become deeply involved end up needing and relying upon MLM desperately. They alienate or abandon other sustaining relationships.

Lie #8. MLM is a positive, supportive new business that
affirms the human spirit and personal freedom.

Truth: MLM is largely fear-driven. Solicitations inevitably include dire predictions about the impending collapse of other forms of distribution, the disintegration or insensitivity of corporate America, and the lack of opportunity in other occupations. Many occupations are routinely demeaned for not offering"unlimited income." Working for others is cast as enslavement for "losers." MLM is presented as the last best hope for many people. This approach, in addition to being deceptive, frequently discourages people who otherwise would pursue their own unique visions of success and happiness. A sound business opportunity does not have to base its worth on negative predictions and warnings.

Lie #9. MLM is the best option for owning your own
business and attaining real economic independence.

Truth: MLM is not true self-employment. "Owning" an MLM distributorship is an illusion. Some MLM companies forbid distributors to carry other companies' products. Most MLM contracts make termination of the distributorship easy and immediate for the company. Short of termination, downlines can be taken away arbitrarily. Participation requires rigid adherence to a "duplication" model, not independence and individuality. MLM distributors are not entrepreneurs but joiners in a complex hierarchical system over which they have little control.

Lie #10: MLM is not a pyramid scheme because products are sold.

Truth: The sale of products does not protect against anti-pyramid-scheme laws or unfair trade practices set forth in federal and state law. MLM is a legal form of business only under rigid conditions set forth by the FTC and state attorneys general. Many MLMs are violate these guidelines and operate only because they have not been prosecuted. Recent court rulings are using a 70% rule to determine an MLM's legality: At least 70% of all goods sold by the MLM company must be purchased by nondistributors. This standard would place most MLM companies outside the law. The largest MLM acknowledges that only 18% of its sales are made to nondistributors.

Accountability Needed

An FTC trade regulation rule that forces honest disclosure of potential MLM distributor income is desperately needed. Toward this end, Pyramid Scheme Alert has launched a petition drive urging the FTC to force multilevel companies to disclose the true income of their distributors. The requested data would include: (a) the total number of distributors involved in the company for at least three years (or since the company's founding if less than three years); (b) the average incomes of all distributors who have signed up for a distributorship by percentiles, not just the ones deemed "active"; and (c) a "weighted" overall average income of all distributors so that the extraordinary high incomes of the small number at the top are not calculated in with vast majority so as to give a more statistically valid figure.

_________________

Mr. FitzPatrick consults and writes about trends in manufacturer/distributor relationships. He founded and is president of Pyramid Scheme Alert, a consumer advocacy group focused on exposing and preventing pyramid schemes. He has served as an expert witness in several cases involving pyramid schemes and MLM companies. He writings include False Profits (a book about MLM deception) and "Pyramid Nation" (a booklet that laments the growth and "legalization" of pyramid schemes.)
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#179 Consumer Comment

If It Walks Like A Duck, Primerica Says Its An Eagle

AUTHOR: Richard - (U.S.A.)

MLM Watch Home Page

Ten Big Lies of Multilevel Marketing
Robert L. Fitzpatrick
The multilevel marketing (MLM) field grows, and its member companies multiply. Solicitations to join seem to be everywhere. Its promoters would like you to believe that it is the wave of the future, a business model that is gaining momentum, growing in acceptance and legitimacy, and will eventually replace most other forms of marketing. Many people are led to believe that success will come to anyone who believes in the system and adheres to its methods.

Unfortunately, the MLM business model is a hoax that is hidden beneath misleading slogans. Calling it a "great business opportunity" makes no more sense than calling the purchase of a lottery ticket a "business venture" and winning the lottery a "viable income opportunity for everyone." MLM industry claims of distributor income potential, its glorified descriptions of the "network'" business model, and its prophecies of dominating product distribution have as much validity in business as UFO sightings do in the realm of science.

The very legality of the MLM system rests tenuously upon a single 1979 court ruling on one company. The guidelines for legal operation set forth in that ruling are routinely ignored by the industry. Lack of governing legislation or oversight by any designated authority also enables the industry to endure despite occasional prosecutions by state attorneys general or the FTC.

MLM's economic scorecard is characterized by massive failure rates and financial losses for millions of people. Its structure in which positions on an endless sales chain are purchased by selling or buying goods is mathematically unsustainable, and its system of allowing unlimited numbers of distributors in any market area is inherently unstable. MLM's espoused core business -- personal retailing -- is contrary to trends in communication technology, cost-effective distribution, and consumer buying preferences. The retailing activity is, in reality, only a pretext for the actual core business, which is enrolling investors in pyramid organizations that promise exponential income growth.

As in all pyramid schemes, the incomes of those distributors at the top and the profits to the sponsoring corporations come from a continuous influx of new investors at the bottom. Viewed superficially in terms of company profits and the wealth of an elite group at the pinnacle of the MLM industry, the model can appear viable to the uninformed, just as all pyramid schemes do before they collapse or are prosecuted by authorities.

The growth of MLM is the result of deceptive marketing that plays upon treasured cultural beliefs, social and personal needs, and some economic trends, rather than its ability to meet any consumer needs. The deceptive marketing is nurtured by a general lack of professional evaluation or investigation by reputable business media. Consequently, there is widespread belief that MLM is a viable business investment or career choice for nearly everyone and that the odds of financial success in the venture are comparable or better than other employment or business ventures.

MLM's true constituency is not the consuming public but hopeful investors. The market for these investors grows significantly in times of economic transition, globalization, and employee displacement. Promises of quick and easy financial deliverance and the linking of wealth to ultimate happiness also play well in this market setting. The marketing thrust of MLM is directed to prospective distributors, rather than product promotions to purchasers. Its true products are not long distance phone services, vitamins, or skin creams, but the investment propositions for distributorships which are deceptively portrayed with images of high income, low time requirements, small capital investments, and early success.

Here are ten lies I have identified during more than 20 years of observing the MLM marketplace:

Lie #1: MLM offers better opportunities than all other conventional
business and professional models for making large amounts of money.
Truth: For almost everyone who invests, MLM turns out to be a losing financial proposition. Fewer than 1% of all MLM distributors ever earn a profit and those earning a sustainable living at this business are a much smaller percentage still.

Extraordinary sales and marketing obstacles account for much of this failure, but even if the business were more feasible, sheer mathematics would severely limit the opportunity. The MLM business structure can support only a small number of financial winners. If a 1,000-person downline is needed to earn a sustainable income, those 1,000 will need one million more to duplicate the success. How many people can realistically be enrolled? Much of what appears as growth is in fact only the continuous churning of new enrollees. The money for the rare winners comes from the constant enrollment of armies of losers. With no limits on numbers of distributors in an area and no evaluation of market potential, the system is also inherently unstable.

Lie #2: Network marketing is the most popular and effective new way to bring products
to market. Consumers like to buy products on a one-to-one basis in the MLM model.

Truth: Personal retailing -- including nearly all forms of door-to-door selling -- is a thing of the past, not the wave of the future. Retailing directly to friends on a one-to-one basis requires people to drastically change their buying habits. They must restrict their choices, often pay more for goods, buy inconveniently, and engage in potentially awkward business relationships with close friends and relatives. In reality, MLM depends on reselling the opportunity to sign up more distributors.

Lie #3: Eventually all products will be sold by MLM. Retail stores, shopping malls,
catalogs and most forms of advertising will soon be rendered obsolete by MLM.

Truth: Fewer than 1% of all retail sales are made through MLM, and much of this is consists of purchases by hopeful new distributors who are actually paying the price of admission to a business they will soon abandon. MLM is not replacing existing forms of marketing. It does not legitimately compete with other marketing approaches at all. Rather, MLM represents a new investment scheme couched in the language of marketing. Its real products are distributorships that are sold through misrepresentation and exaggerated promises of income. People are buying products in order to secure positions on the sales pyramid. The possibility is always held out that you may become rich if not from your own efforts then from some unknown person ("the big fish") who might join your "downline."

MLM's growth does not reflect its value to the economy, customers, or distributors, but the high levels of economic fear, insecurity, wishes for quick and easy wealth. The market dynamics are similar to those of legalized gambling, but the percentage of winners is much smaller.

Lie #4: MLM is a new way of life that offers happiness and fulfillment.
It provides a way to attain all the good things in life.

Truth: The most prominent motivational themes of the MLM industry, as shown in industry literature and presented at recruitment meetings, constitute the crassest form of materialism. Fortune 100 companies would blush at the excess of promises of wealth, luxury, and personal fulfillment put forth by MLM solicitors. These appeals actually conflicts with most people's true desire for meaningful and fulfilling work at something in which they have special talent or interest.

Lie #5: MLM is a spiritual movement.

Truth: The use of spiritual concepts like prosperity consciousness and creative visualization to promote MLM enrollment, the use of words like "communion" to describe a sales organization, and claims that MLM fulfills Christian principles or Scriptural prophecies are great distortions of these spiritual practices. Those who focus their hopes and dreams upon wealth as the answer to their prayers lose sight of genuine spirituality as taught by religions. The misuse of these spiritual principles should be a signal that the investment opportunity is deceptive. When a product is wrapped in the flag or in religion, buyer beware! The "community" and "support" offered by MLM organizations to new recruits is based entirely upon their purchases. If the purchases and enrollment decline, so does the "communion.'"

Lie #6: Success in MLM is easy. Friends and relatives are the natural prospects.
Those who love and support you will become your life-time customers.

Truth: The commercialization of family and friendship and the use of"'warm leads" advocated in MLM marketing programs are a destructive element in the community and very unhealthy for individuals involved. People do not appreciate being pressured by friends and relatives to buy products. Trying to capitalizing upon personal relationships to build a business can destroy one's social foundation.

Lie #7: You can do MLM in your spare time. As a business, it offers the greatest flexibility
and personal freedom of time. A few hours a week can earn a significant supplemental income
and may grow to a very large income, making other work unnecessary.

Truth: Making money in MLM requires extraordinary time commitment as well as considerable personal skill and persistence. Beyond the sheer hard work and talent required, the business model inherently consumes more areas of one's life and greater segments of time than most occupations. In MLM, everyone is a prospect. Every waking moment is a potential time for marketing. There are no off-limit places, people, or times for selling. Consequently, there is no free space or free time once a person enrolls in MLM system. While claiming to offer independence, the system comes to dominate people's entire life and requires rigid conformity to the program. This is why so many people who become deeply involved end up needing and relying upon MLM desperately. They alienate or abandon other sustaining relationships.

Lie #8. MLM is a positive, supportive new business that
affirms the human spirit and personal freedom.

Truth: MLM is largely fear-driven. Solicitations inevitably include dire predictions about the impending collapse of other forms of distribution, the disintegration or insensitivity of corporate America, and the lack of opportunity in other occupations. Many occupations are routinely demeaned for not offering"unlimited income." Working for others is cast as enslavement for "losers." MLM is presented as the last best hope for many people. This approach, in addition to being deceptive, frequently discourages people who otherwise would pursue their own unique visions of success and happiness. A sound business opportunity does not have to base its worth on negative predictions and warnings.

Lie #9. MLM is the best option for owning your own
business and attaining real economic independence.

Truth: MLM is not true self-employment. "Owning" an MLM distributorship is an illusion. Some MLM companies forbid distributors to carry other companies' products. Most MLM contracts make termination of the distributorship easy and immediate for the company. Short of termination, downlines can be taken away arbitrarily. Participation requires rigid adherence to a "duplication" model, not independence and individuality. MLM distributors are not entrepreneurs but joiners in a complex hierarchical system over which they have little control.

Lie #10: MLM is not a pyramid scheme because products are sold.

Truth: The sale of products does not protect against anti-pyramid-scheme laws or unfair trade practices set forth in federal and state law. MLM is a legal form of business only under rigid conditions set forth by the FTC and state attorneys general. Many MLMs are violate these guidelines and operate only because they have not been prosecuted. Recent court rulings are using a 70% rule to determine an MLM's legality: At least 70% of all goods sold by the MLM company must be purchased by nondistributors. This standard would place most MLM companies outside the law. The largest MLM acknowledges that only 18% of its sales are made to nondistributors.

Accountability Needed

An FTC trade regulation rule that forces honest disclosure of potential MLM distributor income is desperately needed. Toward this end, Pyramid Scheme Alert has launched a petition drive urging the FTC to force multilevel companies to disclose the true income of their distributors. The requested data would include: (a) the total number of distributors involved in the company for at least three years (or since the company's founding if less than three years); (b) the average incomes of all distributors who have signed up for a distributorship by percentiles, not just the ones deemed "active"; and (c) a "weighted" overall average income of all distributors so that the extraordinary high incomes of the small number at the top are not calculated in with vast majority so as to give a more statistically valid figure.

_________________

Mr. FitzPatrick consults and writes about trends in manufacturer/distributor relationships. He founded and is president of Pyramid Scheme Alert, a consumer advocacy group focused on exposing and preventing pyramid schemes. He has served as an expert witness in several cases involving pyramid schemes and MLM companies. He writings include False Profits (a book about MLM deception) and "Pyramid Nation" (a booklet that laments the growth and "legalization" of pyramid schemes.)
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#180 Consumer Comment

Edgar in LaHabra and not-so-SMART loans

AUTHOR: Leroy - (U.S.A.)

For the record..... Jay is the loan officer, not me. 90% of what I have learned about not-so-SMART loans came from Jay. The rest came from individual's writing to this sight verifying everything Jay had said, like Edwin from Missagua. Jay's analysis of the not-so-SMART loan was top notch.
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#181 Consumer Suggestion

edgar the typical crimerica moron

AUTHOR: Jay - (U.S.A.)

read the sentence structure, spelling and punctuation of this typical Primerica employee and ask yourself whether this assclown is qualified to even wash your windows. he is however, eminently qualified to work for crimerica...
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#182 Consumer Comment

Customer

AUTHOR: Edgar - (U.S.A.)

I am a customer of Primerica or as some of you call it Crimerica. I don't make a lot of money but am very happy with what I do. They tried to recruit me so I decided to take a look at what some people had to say. I value everyones right to there opinions and there freedom of speech, but Jay out there you need to quit referring to Leroy about the S.M.A.R.T loan. Think for yourself buddy, you sound like a puppett to Leroy. Leroy and Stuart you have too many rebuttals on this site and I question if you are going off any other names. Get a job make something of your life. This will be the only time that I look at this website so who ever wants to respond to me go ahead but no expect and arguement. I will not be looking for your rebuttal.

Good Luck to all of you looking to Primerica to advance your lives and to those who won't or don't.
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#183 Consumer Comment

Robert in Modesto

AUTHOR: Leroy - (U.S.A.)

To begin with......primerica is not "BACKED" by citigroup. I have clients in Modesto. Don't ever tell one of mine this because it is a misrepresentation. Primerica is a wholly owned subdidiary of Citigroup. That means it is OWNED...NOT BACKED by Citigroup. Someone claiming to be a business/finance major ought to know the difference. In the event primerica goes belly up Citigroup has absolutely no legal obligation whatsoever to primerica policycyholders. Anything it does for them would be out of ethical considerations and given the fact Citigroup just paid $TWO BILLION in regulatory fines and class action suit settlements for ethical breaches, I wouldn't hold my breath waiting for them to come to my rescue.

BTW.....I didn't know primerica was active in Modesto again. It had its office there shut down several years ago by the D.O.I. As I understand There were two brothers running it who did some bad stuff.

Robert offers up some reading. Like all shillers he fails to mention a few books. Mortgages by Jack Guttenberg has a chapter on mortgage scams. It reads like the canned sales pitch primerica reps deliver while trying to rape some poor consumer with their not-so-SMART loan. He also doesn't mention
Be Your Own banker" by Nelson Nash which talks about using the tax advantages in cash value policies to become your own banker.

He does mention Dave Ramsey and Suze Orman, but only selectively. Everyday on his radio show Dave Ramsey rants and raves about what a bad idea it is to roll personal consumer debt, like cars and credit cards, into your home loan yet primerica reps advise people to do just that all day every day.

Suze Orman is constantly quoted by primerica reps because of her affinity for term insurance (which I share) however she can be incredibly shortsighted. For example all during the 1990s she told people stay away from variable annuities (which primerica also sells) because the only advantage they had was the death benefit and it was unnecessary anyway since the stock market keeps going up. As we speak the average death benefit on a variable annuity sold before 2000 is 29% greater than the actual cash value of the account because of the HUGE crash in 2000-2002.


When you consider variable annuitiesyou have to also take into account the existence of Guaranteed Living Benefits which allows the investor to shift his stock market investement risk to an insurance carrier so he is insulated from losses.

Robert apparently runs, or attempts to say he runs, his office differently than other primerica offices do. Most RVPs try to get their new recruit to subject their warm market to them first so they can reap any commissions made while during the period it is illegal for the recruit to recieve a commission.

Robert does give away the REAL story when he says
a person can get back $159 of his $199 initial fee to primerica IF the recruit takes someone to visit three people.

Robert says if he runs the FNA for his recruit then he takes 50% of the commission. ANYONE can do an FNA.....I mean ANYONE!!!!! It is nothing more than a tool to gather information from the
the prospect and deliver a canned sales pitch at the same time. My own personal FNA is an empty notepad. I actually listen to what the client wants to achieve rather than deliver a sales pitch. Rather than try to convince a client that everyone else is evil except me, I take the information and try to find the best possible product from the best possible company to solve whatever the CLIENT THINKS is his most pressing problem.

The FNA has no respect for the person being subjected to it. The FNA assumes the client is some poor wretch who really doesn't know what he wants "so by god primerica will tell him what he wants."

Pure and simple, if you want to subject your freinds and family to a canned sales pitch designed to sell overpriced term insurance, so-so mutual funds, and GROSSLY OVERPRICED loans, then call Robert and become a primerica rep.

Finally, Robert uses an assumptive tone in talking about what he has at primerica. The assumption is that yoyu can only achieve thatat primerica. The truth is there are at least a half dozen national agencies that do the same thing. The main differences are;
a.) all of them use a number of different companies instead of just one.
b.) they allow the agent to sell any product that fits the client's situation, not just term insurance.
c.) the agent starts at 80% commission on term insurance, not 25% like at primerica.
d.) you can start your recruits at 80% commission if you wish to.
e.) despite commissions 3-4 times higher to the agent the cost to the client is ALWAYS lower than primerica's
f.) when and if you decide to sell your business you can sell to anyone you want to.

If Robert is so intent on research he ought to be researching those opportunities. If he does and still likes primerica, he has at least made an informed decsion (albeit a bad one). If he doesn't bother to research it then he shows a lack of intellectual curiosity and willingness to do market research that I certainly wouldn't want in my financial advisor.
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#184 UPDATE EX-employee responds

They're crawling out from the woodworks again (Robert - Modesto)

AUTHOR: Stuart - (U.S.A.)

Point by point:

"I have a degree in business finance..." Would you like to post it on Ripoff Report for documentation
purposes since Crimerica is notorious for being deceptive?

"Get rich helping other people get rich." At Crimerica this means the fat cats as it is a pyramid-schemed company (when you cut out the fat cats, the average agent makes less than $2,300 a year before business expense and 50% chargebacks to commission).

"I wanted to help people invest their money and help them become rich." In over 20 years it has yet to be documented that any customer got "rich" through Crimerica.

"go on 3 presentations BEFORE you start your prelicencing school for life insurance (why?..." Why? Because Robert knows that unlicensed agents don't get paid any commission so it means more for
him and his upline and NOTHING for you. (in other words Robert wants to raid YOUR warm market).

"you can't get your $199 back.. but if you go on 3 presentations and then decide you don't want to do PFS then you will get $159 ($199 - $40 which is non-refundable)." This is false. You can get back $159 at any time, whether or not you do the presentations and there are reports of people getting back the entire $199, but you have to put pressure on Crimerica (possibly small claims court if you need to).

"After you are licensed go on as many appointments as you can with your field trainer until you feel completly comfortable with what you are doing.. The way I do it in my office is I do ALL OF THE TALKING and you do all of the FNA's (Finacial Needs Analysis). You make ALL OF THE MONEY. My rule in my office is if I have to do the FNA's for you then we will split the commissions 50/50 but if you do the FNA's by yourself, you make all of the commissions." Just make sure you are licensed
and you sign the contract with the customer.

"Business owners...." Another Crimerica scam as you don't own your business under them as they can
dictate who you can sell the business to.

"It's backed by the largest financial service company in the world" Another lie by Robert.
This is simply not a case of me against a shiller
as I can readily prove my case on this point to all the visitors to Ripoff Report. Just go to
Crimerica's website: http://ww4.primerica.com/public/
primerica_disclosures.htm and read the following:

"Each subsidiary of Citigroup, and not Citigroup itself, is responsible for its obligations to its customers." What this means is that if Crimerica goes under, don't bother to go to Citigroup to make up the difference because Citigroup won't back Crimerica in plain English.

This bottom feeder doesn't warrant my respect on this website. So I'll send this shiller back to his fat catmasters with a message burned into his brain:

"Victim of a consumer Rip-off? Want justice? Rip-off Report? is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
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#185 UPDATE Employee

Primerica is Awsome...

AUTHOR: Robert - (U.S.A.)

This is to all the new people who are doing their "research" into Primerica. I have been with Primerica for a little over 3 years now. I too, have been to this website BEFORE I joined the company and after reading some of them I was concerned. But I decided to ignore these postings because there were a few things that just did not add up.. like 1) Primerica has been around for a long time (once known as AL Williams)and if they were "ripping" people off, I am sure would be out of business. 2) It's backed by the largest financial service company in the world, 3) I was being ripped off by a so called reputable company that sold me a VUL.. So I decided to take a closer look and check it out for myself.

A little back ground about me.. I have a degree in business finance.. I had a great job with great benefits, and it paid very well, and I loved doing it. I had NO INTENTIONS of making a career change. I have always been ambitions and wanted something to do that was not going to rip people off and I could make a lot of money doing it. It was not until I had to do a term paper in college that I knew exactly what I wanted to do.. Get rich helping other people get rich. And recruiting people into a business was not what I meant. I wanted to help people invest their money and help them become rich. Primerica was the best answer for me because it was the only company I found (and yes I did look at other companies) that offered the right products for people, their mission was awsome, and I could do it on a part time basis. Well after working with Primerica for 1 1/2 years on a part time basis, what I was making in my well paying career working 50-60 hours a week, I was making in Primerica working only 6 - 10 hours a week. I came to a cross road in my life. I had to make a decision.. keep working at my career or walk away from it and build my Primerica business. I chose to walk away. After 13 years in my career that I loved... I chose to walk away and have no regrets about it. Today I am debt free, making decent money, helping a lot of people by helping them with their finances and RECRUITING other people.

To all of those who are reading this site, here is what you should do to be comfortable with your decision in joining Primerica.. These are things to do before joining.

1) Get your financial house in order so you can see first hand what it is they are doing for families.

2) Do legitamate research.. This site is not research. Go to the library and read Rich Dad Poor Dad, Finance for Dummies, Whats wrong with your life insurance, Life insurance for Dummies, Suzie Orman, Dave Ramsey Total Money Makeover, David Bach Start Late Finish Rich (which by the way talks about our company in it), Nick Murray What all mutual fund investors should know, (which talks about Primerica), these are just a few books out of many that would prove to you that Primerica is doing what is right.

3) Follow the training system.. which is..

1) watch your debt training video so you can get paid for loans and refi..
2) go on 3 presentations BEFORE you start your prelicencing school for life insurance (why? Because if you go to the school first and decide you don't want to do PRimerica, you can't get your $199 back.. but if you go on 3 presentations and then decide you don't want to do PFS then you will get $159 ($199 - $40 which is non-refundable).

3) If you decide to take it further go to school and get your life license. After you are licensed go on as many appointments as you can with your field trainer until you feel completly comfortable with what you are doing.. The way I do it in my office is I do ALL OF THE TALKING and you do all of the FNA's (Finacial Needs Analysis). You make ALL OF THE MONEY. My rule in my office is if I have to do the FNA's for you then we will split the commissions 50/50 but if you do the FNA's by yourself, you make all of the commissions.

4) don't dare quit your job until you are completely debt free and have enough money saved in savings, and you have REPLACED your income working with us. So what you do is take all of the money you are making with Primerica and save 50% of it and take the other half and get rid of your debts. ONce your are debt free now you just freed up your monthly cash flow to be able to save even more money. This will take about 18-24 months. If you really want to grow BIG, work with Primerica part time until your home is paid off.. If you follow your FNA as well as apply your money from PFS to your home mortgage, you can have it paid off within 5 years.. Even if you have a 30 year mortgage (which is exactly what I did before I quit my career).

5) ONce you are completely debt free and have enough money saved, go full time with Primerica and just recruit train and develope people. This is what RVPs do.. They do not have to go out and chase sales. They can just focus on recruiting. that is what is meant by being a business owner instead of self employed. Self employed people have to continue to work to bring in income.. Business owners have others working for them.. ie Real Estate Brokers, Franchise owners, etc.. Primerica is no different. And now you can continue to build your business as big is you like.. Look for 2 types of people.. those who just want to make extra income, and those who want to build a business and be financially free.. Your train each according to their desires..

I am glad I didn't listen to the comments on this website. Today my wife and children are very happy and free.. We do a lot of things we were not able to do.. not because we are rich (we are not by the way).. we are just free to do what we want when we want to do it.. and that is awsome..

So, again, if you are considering Primeica, it is a great opportunity.. give it a try.. And if you have a sponser who is not taking you through the "system" I just mentioned, talk to your RVP about it..
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#186 Consumer Comment

Madeline

AUTHOR: Leroy - (U.S.A.)

What I said about the CALPERS retirement system is true no matter where you live. I live in the Central Valley. Yeah, home prices are lower here, but not like it used to be. The percentage gap between homes in California rural areas and urban areas has considerably narrowed these last 6-7 years. Real estate values aside no matter what you say a $70,000 a year for a 181 day work with no performance accountability (because you have tenure) year looks real good to people who work the typical 260 day work year for the average $52,000 a year and can be laid off any time any day.

I'd love to come to Long Beach and meet you. I don't really need to attend your meeting because I already know what will be said. You and I can meet one-on-one. You can tell me what primerica wants me to hear and then I can tell you what goes on in the real world.

You can tell me how primerica is the only company that will give anyone this chance. I'll give you the names and phone numbers of two west coast super agencies that do the same thing. I can give you some east coast ones too by why should we westerners bother?

You can tell me how primerica is the only place where you can build a downline to make you money. I'll take you 120 miles down the road to meet my buddy Richrad who working all by himself has put together over 1,000 agents under him producing 450 applications a month. He gets a 20% override on each one.

You'll tell me how Buy-term_Invest-the Difference is the best for everyone. I'll show you how each and every primerica client would have more difference to invest if they bought low priced term". I'll show you how a woman buying a primerica term policy would have to get a 22% guaranteed tax free net return to equal a Return of Premium term policy with an A+ carrier.

You'll tell me how "interest rates don't matter" and I'll show you the math in black and white why this is an outright lie. You can check around this board a little and find where I have done that on many occassions here.

You'll tell me how primerica is backed by Citigroup and I'll show you how Citigroup has absolutely no legal obligation whatsoever to a single one of primerica's policyholders.

You'll tell me how in a whole life policy the policyowner has to borrow his own money. We'll call a few companies and they will tell you how that isn't true. In reality they loan you their money and yours is held as collateral for the loan and it continues to earn interest. The net interest rate between what they pay you and what they charge you is almost always under 2% and many times is 0%.

You can show me that wonderful "unique" Financial Needs Analysis and tell me how other companies charge as much as $10,000 for it (your cohort Tom said this last week). I'll pull out the laptop and order you about 10 of them from different companies which are all very similar to your FNA. Then we'll call some of your competitors and ask them how much they charge to run their own version of it (the answer will be $ZERO.

You can tell me how primerica is the only company that will start a mutual fund investment with $25 and then I'll show you how the fund company, not the broker-dealer, decides that. To prove it, we'll do a 403b plan for you and start it with $25.

Lastly, I'll show you how you and your spouse (if you're married) are paying way too much for your life insurance with primerica and how you can have way more coverage for the same premium if I become your agent. Then we'll fill out the applications, arrange your physicals, and start calling all the people you sold overpriced primerica term to.

Madeline, I've dealt with primerica-types for 30 years. Most times I know more about primerica than they do. In all seriousness I really do have several former primerica reps as my clients now.

Madeline, you seem to me to be a really nice person. I'm sure you're 100% well intentioned as most primerica reps are. You all have been sold a bad bill of goods by one of the most cynical sales organizations on the face of the planet. Until you sit down and see what is really out there and quit taking the word of your upline, you'll never know. A lack of intellectual curiosity is a fatal flaw in a person who wants to be a financial adviser. It means your client will not get the benefit of every conceivable solution to his problem that exists but instead will get a canned sales pitch telling him this is the solution because its the only solution the adviser sells.

Primerica was a minor annoyance when they charged someone $20 a month more for term life insurance than was necessary, but when they started pulling that same crap with home loans and convinced people to pay $400 a month more for interest it really got my dander up. Any middle class family can recover from a $20 a month mistake....a $400 a month mistake HURTS middle class families substantially!

p.s- I taught for 5 years in California schools.
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#187 UPDATE EX-employee responds

Something for Madeline (Long Beach)

AUTHOR: Stuart - (U.S.A.)

"Long Beach is a beautiful city." It would be more beautiful without Crimerica around.

Madeline, drum this into your brain:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."

I hope your next visit is more informative for you.
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#188 Consumer Suggestion

dear madeline

AUTHOR: Jay - (U.S.A.)

would you sell your mom/dad a not so smart loan costing them tens of thousands extra of their hard earned dollars? Leroy will explain why this is a bad idea.

would you sell your sister 250K worth of term insurance when she could get 400K for the same premium dollars?

do you actually believe your financial needs analysis is unique to the industry and you guys are the only ones who dont charge for it?
do you really believe your RVP is better equipped to help a well to do couple on the verge of retirement than an estate planning attorney or a certified financial planner?

if you answered yes to any of these questions, welcome to Crimerica Jonestown, the Koolaid is in the fridge...
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#189 Consumer Suggestion

dear madeline

AUTHOR: Jay - (U.S.A.)

would you sell your mom/dad a not so smart loan costing them tens of thousands extra of their hard earned dollars? Leroy will explain why this is a bad idea.

would you sell your sister 250K worth of term insurance when she could get 400K for the same premium dollars?

do you actually believe your financial needs analysis is unique to the industry and you guys are the only ones who dont charge for it?
do you really believe your RVP is better equipped to help a well to do couple on the verge of retirement than an estate planning attorney or a certified financial planner?

if you answered yes to any of these questions, welcome to Crimerica Jonestown, the Koolaid is in the fridge...
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#190 Consumer Suggestion

dear madeline

AUTHOR: Jay - (U.S.A.)

would you sell your mom/dad a not so smart loan costing them tens of thousands extra of their hard earned dollars? Leroy will explain why this is a bad idea.

would you sell your sister 250K worth of term insurance when she could get 400K for the same premium dollars?

do you actually believe your financial needs analysis is unique to the industry and you guys are the only ones who dont charge for it?
do you really believe your RVP is better equipped to help a well to do couple on the verge of retirement than an estate planning attorney or a certified financial planner?

if you answered yes to any of these questions, welcome to Crimerica Jonestown, the Koolaid is in the fridge...
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#191 Consumer Suggestion

dear madeline

AUTHOR: Jay - (U.S.A.)

would you sell your mom/dad a not so smart loan costing them tens of thousands extra of their hard earned dollars? Leroy will explain why this is a bad idea.

would you sell your sister 250K worth of term insurance when she could get 400K for the same premium dollars?

do you actually believe your financial needs analysis is unique to the industry and you guys are the only ones who dont charge for it?
do you really believe your RVP is better equipped to help a well to do couple on the verge of retirement than an estate planning attorney or a certified financial planner?

if you answered yes to any of these questions, welcome to Crimerica Jonestown, the Koolaid is in the fridge...
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#192 UPDATE Employee

From Madeline in Primerica to Leroy and Stuart/My 2nd time now

AUTHOR: Madeline - (U.S.A.)

Dear Leroy, Stuart and ripoff report:

Thanks for the smile and laugh you gave me today. I wish you were more informed on more issues. Check out the cost of living in Long Beach, CA, compare salares, how long teacher really work, what we are really paid for, then do the math.

I logged on today for the 2nd time in my life because I wanted to see if anyone would take me up on my offer to visit our meeting. I invite you both to come together. It sounds like you need something to believe in and something to do. In my world it is hard to believe that one would think that someone would lie about something so insignificant as to how many times one had visited a website, but also in my way of thinking, we tend to expect others to act as we ourselves would and think as we ourselves do.

Therefore, I ask, how many times and under how many names have you commented on this matter? I think that Primerica has become a very big thing in your life, or maybe the ripoff report is a major factor in your life. Do you respond to all of their reports? If your intgrity and values are right, it seems to me that with proper guidance, you both may have the time and "stick-to-it-ness" necessary to be a successful crusader in this business, if you could ever understand the true mission, which is to help people, to take information to people who need it.

Long Beach is a beautiful city. If you ever come to visit Long Beach, I invite you to our office, attend our opportunity meeting. I love to teach and change lives.

Sincerely,
Madeline

P.S. I will logon once more to see your response. After that I must continue to build my business and try to make a positive impact on a sometimes negative, cynical world.
I wish you and your well. Primerica is not for everyone, but who knows it may yet be for you!
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#193 UPDATE Employee

From Madeline in Primerica to Leroy and Stuart/My 2nd time now

AUTHOR: Madeline - (U.S.A.)

Dear Leroy, Stuart and ripoff report:

Thanks for the smile and laugh you gave me today. I wish you were more informed on more issues. Check out the cost of living in Long Beach, CA, compare salares, how long teacher really work, what we are really paid for, then do the math.

I logged on today for the 2nd time in my life because I wanted to see if anyone would take me up on my offer to visit our meeting. I invite you both to come together. It sounds like you need something to believe in and something to do. In my world it is hard to believe that one would think that someone would lie about something so insignificant as to how many times one had visited a website, but also in my way of thinking, we tend to expect others to act as we ourselves would and think as we ourselves do.

Therefore, I ask, how many times and under how many names have you commented on this matter? I think that Primerica has become a very big thing in your life, or maybe the ripoff report is a major factor in your life. Do you respond to all of their reports? If your intgrity and values are right, it seems to me that with proper guidance, you both may have the time and "stick-to-it-ness" necessary to be a successful crusader in this business, if you could ever understand the true mission, which is to help people, to take information to people who need it.

Long Beach is a beautiful city. If you ever come to visit Long Beach, I invite you to our office, attend our opportunity meeting. I love to teach and change lives.

Sincerely,
Madeline

P.S. I will logon once more to see your response. After that I must continue to build my business and try to make a positive impact on a sometimes negative, cynical world.
I wish you and your well. Primerica is not for everyone, but who knows it may yet be for you!
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#194 UPDATE Employee

From Madeline in Primerica to Leroy and Stuart/My 2nd time now

AUTHOR: Madeline - (U.S.A.)

Dear Leroy, Stuart and ripoff report:

Thanks for the smile and laugh you gave me today. I wish you were more informed on more issues. Check out the cost of living in Long Beach, CA, compare salares, how long teacher really work, what we are really paid for, then do the math.

I logged on today for the 2nd time in my life because I wanted to see if anyone would take me up on my offer to visit our meeting. I invite you both to come together. It sounds like you need something to believe in and something to do. In my world it is hard to believe that one would think that someone would lie about something so insignificant as to how many times one had visited a website, but also in my way of thinking, we tend to expect others to act as we ourselves would and think as we ourselves do.

Therefore, I ask, how many times and under how many names have you commented on this matter? I think that Primerica has become a very big thing in your life, or maybe the ripoff report is a major factor in your life. Do you respond to all of their reports? If your intgrity and values are right, it seems to me that with proper guidance, you both may have the time and "stick-to-it-ness" necessary to be a successful crusader in this business, if you could ever understand the true mission, which is to help people, to take information to people who need it.

Long Beach is a beautiful city. If you ever come to visit Long Beach, I invite you to our office, attend our opportunity meeting. I love to teach and change lives.

Sincerely,
Madeline

P.S. I will logon once more to see your response. After that I must continue to build my business and try to make a positive impact on a sometimes negative, cynical world.
I wish you and your well. Primerica is not for everyone, but who knows it may yet be for you!
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#195 Consumer Comment

Madelline passes on some myths

AUTHOR: Leroy - (U.S.A.)

Myth number one... UNDERPAID TEACHERS!!!!!

Not in California they ain't. How many of you would like a job where you worked 8 months a year, had 10 weeks off in summer, 2 at Christmas, 1 at easter, plus every imaginable holiday off?

How many of you would like a job that once you managed to survive for 3 years you could not be fired no matter how lazy you got or how little effort you made? You could only be fired for having sex with or giving drugs to an underage student.

How many of you would like a job where you have full benefits.

How many of you would like a job where after 5 years if you become disabled you get 2/3rds of your salary tax free?

Lastly, how many of you would like a job that has a retirement plan second only to major league baseball> A california teacher retiring after 30 years of service retires on 72% of the salary of his/her last 3 years on the job PLUS a flat $4500 on top. For most California teachers that means they retire with a pension of $70,000-80,000 a year guaranteed by the government. You'd have to have $1.5-2 million in the bank to retire like that on your own.

Myth #2.....Primerica does the right thing 100% of the time
<<<< How a woman can say this when she knows primerica charges other women the same rates they charge men is beyond me. When is it right to charge a 44 year old single Mom with 3 kids and a mortgage $40 a month for a $250,000 policy when that same $40 would buy her $400,000 with someone else? (a primerica case I just replaced this week)

When is it the right thing to do to talk someone in to a loan at 7.75% when that person could qualify for a loan at 6% with fewer fees and points?

When is it right to counsel someone to drop a financial product they are in when the half-trained counselor doesn't know how that product works?

Myth #3... Madelline is getting her own business with primerica
<<<<
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#196 UPDATE EX-employee responds

Don't these Crimerican bottom feeders ever learn?

AUTHOR: Stuart - (U.S.A.)

Yet another shiller (Madeline from Long Beach) is adding on to the embarassment of Crimerica. From the way this report is worded, I'm certain that this "Madeline" has posted before under another name.

Quoting:

"I will end my saying that __________ has a motto, "To do the right thing ALL the time."" Er um I thought its motto was "Buy term and invest the difference."

"That's why I like ___________. It is an opportunity (not for lazy people nor for those who are not self-motivated" This slimeball makes me want to puke (this reference to laziness is a clue that this loser was sent down to Ripoff Report by the fat cats from Crimerica). Well alleged 30-year teacher with a Master's Degree, your claim is full
of crap as you misspelled influential, immediate,
representative and other words. You're just too
plain f___ing lazy to get a free spellchecker to check up on your spelling, yet you have the nerve to ask "Please excuse my errors. I just ran out time and can't proofread." Inexcusable you lazy troller. Clearly you're not fit to be an agent.

Here's another reason why I believe "Madeline" has posted here before:

"I would like to invite her to an opportunity meeting that I conduct and ask her to give me an honest critique of my message." What's the matter
bottom feeder? Can't recruit on your own so you have to run down to Ripoff Report in another desperate attempt by a Crimerican to do some shilling on this great website.

Drill this into your brain, loser:

"Victim of a consumer Rip-off? Want justice? Rip-off Report? is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."

PS Leroy, I'll await your spin on this poster.

Amen.
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#197 Consumer Comment

Primerica client, advocate, and future owner

AUTHOR: Madeline - (U.S.A.)

From one fair and opened minded reader to all the others. I just logged on to the Ripoff report for the first time, and only because I was looking up Primerica on the Internet. I saw your report because it was, I think the second or third, if not the first, link that comes up. I think that then means that the Ripoff report is either very influencial or pays big money or both; therefore, I felt the need from the heart to respond.

First of all, I want to say that I am addressing the young lady who wrote the original report, even though, some of my comments are directed to others who responded. I feel the need to clarify who I am. I am a school teacher in Long Beach, CA. I also have a Master's degree plus. I have taught for 30 years, in five different states and two countries. I love to teach, to help others and to make a difference in the lives of others. I want to do something to help make this world a better place, and I want to encourage others to do the same; and it is this desire that has me involved in Primerica. I do not say that I am an owner because I do not have me own office yet. I am, though, an Primerica independent contractor, working to build my own business, who will eventually open my own office, and who will then very proudly call myself an owner.

I'm sure that everyone knows that to build any business, you must start somewhere. In Primerica you do start by filling out an Independent Business and paying $199. It is like buying into a Franchise where the Franchise and your training cost you only $199. From there it is up to the individual where his/her business will go from there.

I must admit that even though I have been a Primerica Client for far more years than I've been a represent, that when I first entered as a independent contractor (representitive), it worried me that my Regional Vice President did try to, literally, push me into imediate recruiting. I actually resisted, no I actually refused. I didn't understand, it is very difficult for one person alone to build a business. It takes a team, and that is what the recruiting is all about, building your team and giving those new people with the same dreams and values a chance to start immediately building their teams and giving them the chance to learn and grow as they go.

As a teacher, I am paid for my years of experience and my level of Education, I have worked very hard and I give 200% to my school and my students, but no school district could ever pay a teacher what he/she is truly worth. no matter how may lives we change. That's why I like Primerica. It is an opportunity (not for lazy people nor for those who are not self-motivated - those types of people must always stay in a salaried or hourly position).

I've gone on too long. I could write so much more, but I will end my saying that Primerica has a motto, "To do the right thing ALL the time." The company was founded by people who believe in this and who promote this. It attracts and retains people who believe the same. That is possibly one reason that you will get "amens". But, please notice that I said "retains" in the above statement. There are some who come into the business only for money, and they may mislead people like the gentlemen that your ripoff reporter visited. Just know that the company tries to guide all representives and owners to do they right thing all the time, to build it right.

Last, I would like to say that the young lady did go three times before she passed judgement. I would like to invite her to an opportunity meeting that I conduct and ask her to give me an honest critique of my message.
Please excuse my errors. I just ran out time and can't proofread.
Thanks for you time. Please take me up onh this offer.
Sincerely a Primerica believer.
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#198 UPDATE EX-employee responds

Responding to Amber (Regina)

AUTHOR: Stuart - (U.S.A.)

I would say that Amber's story is just that, a story. The style of "Amber's" report sounds like it was written by a second-rate Crimerican reject using tired Crimerican phrases.

How would you judge a person who says "And I am sorry, but the $199 is a small price to pay to go through a course in life insurance..." (a Crimerican line) and then Amber says this "I did not even pay a dime to get involved with Primerica. My sponsor, who I only met once out of an ad in my newspaper, listened to me. He understood how hard we have struggled. And he took the upfront cost out of his own pocket for me." Do you find it interesting that for "...a small price...", Amber got her sponsor to put up the money? (if this is true, then send over a copy of the cancelled check to Ripoff Report for documentation).
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#199 Consumer Comment

Meeting in IL

AUTHOR: Nick - (U.S.A.)

I was recently contacted by a representative of this company, and having just started my job search and having thought that this was going to be my first interview, I was excited and it didn't cross my mind that this was anything out of the ordinary. I was told that it was an expanding company, looking to build up for the next two years, and that there were three types of positions that they would consider me for.

When I went to the meeting, the first thing that seemed very strange is how they divided people up into how many times they have been there. Is this something that they do every couple of days?
Then they did a short segment on the services that they offer for people. This was clearly not the focus though.

Most of the meeting was an attempt to get us to join the company. I am looking for a job... I don't want to be sold a job. Furthermore, I don't want to get promoted by selling jobs to other.

When I was contacted, they said they were interested in specific skills that I had listed on my resume. Having just earned my master's degree and being a very analytical person, I have a distint set of skills from the highschool graduate that hates numbers that was sitting across from me. How could could we both be the perfect fit for the same position? Well, we both have contacts for them to exploit, and they are taking absolutely no risk with hiring either of us.

To those of you that are thinking about going to the first meeting just to see what the company is about, you get bombarded with statistics about debt, told that you can make money with interest, and told over and over that they can help you make 'six digit income.'
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#200 Consumer Comment

Meeting in IL

AUTHOR: Nick - (U.S.A.)

I was recently contacted by a representative of this company, and having just started my job search and having thought that this was going to be my first interview, I was excited and it didn't cross my mind that this was anything out of the ordinary. I was told that it was an expanding company, looking to build up for the next two years, and that there were three types of positions that they would consider me for.

When I went to the meeting, the first thing that seemed very strange is how they divided people up into how many times they have been there. Is this something that they do every couple of days?
Then they did a short segment on the services that they offer for people. This was clearly not the focus though.

Most of the meeting was an attempt to get us to join the company. I am looking for a job... I don't want to be sold a job. Furthermore, I don't want to get promoted by selling jobs to other.

When I was contacted, they said they were interested in specific skills that I had listed on my resume. Having just earned my master's degree and being a very analytical person, I have a distint set of skills from the highschool graduate that hates numbers that was sitting across from me. How could could we both be the perfect fit for the same position? Well, we both have contacts for them to exploit, and they are taking absolutely no risk with hiring either of us.

To those of you that are thinking about going to the first meeting just to see what the company is about, you get bombarded with statistics about debt, told that you can make money with interest, and told over and over that they can help you make 'six digit income.'
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#201 Consumer Comment

Meeting in IL

AUTHOR: Nick - (U.S.A.)

I was recently contacted by a representative of this company, and having just started my job search and having thought that this was going to be my first interview, I was excited and it didn't cross my mind that this was anything out of the ordinary. I was told that it was an expanding company, looking to build up for the next two years, and that there were three types of positions that they would consider me for.

When I went to the meeting, the first thing that seemed very strange is how they divided people up into how many times they have been there. Is this something that they do every couple of days?
Then they did a short segment on the services that they offer for people. This was clearly not the focus though.

Most of the meeting was an attempt to get us to join the company. I am looking for a job... I don't want to be sold a job. Furthermore, I don't want to get promoted by selling jobs to other.

When I was contacted, they said they were interested in specific skills that I had listed on my resume. Having just earned my master's degree and being a very analytical person, I have a distint set of skills from the highschool graduate that hates numbers that was sitting across from me. How could could we both be the perfect fit for the same position? Well, we both have contacts for them to exploit, and they are taking absolutely no risk with hiring either of us.

To those of you that are thinking about going to the first meeting just to see what the company is about, you get bombarded with statistics about debt, told that you can make money with interest, and told over and over that they can help you make 'six digit income.'
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#202 Consumer Comment

Meeting in IL

AUTHOR: Nick - (U.S.A.)

I was recently contacted by a representative of this company, and having just started my job search and having thought that this was going to be my first interview, I was excited and it didn't cross my mind that this was anything out of the ordinary. I was told that it was an expanding company, looking to build up for the next two years, and that there were three types of positions that they would consider me for.

When I went to the meeting, the first thing that seemed very strange is how they divided people up into how many times they have been there. Is this something that they do every couple of days?
Then they did a short segment on the services that they offer for people. This was clearly not the focus though.

Most of the meeting was an attempt to get us to join the company. I am looking for a job... I don't want to be sold a job. Furthermore, I don't want to get promoted by selling jobs to other.

When I was contacted, they said they were interested in specific skills that I had listed on my resume. Having just earned my master's degree and being a very analytical person, I have a distint set of skills from the highschool graduate that hates numbers that was sitting across from me. How could could we both be the perfect fit for the same position? Well, we both have contacts for them to exploit, and they are taking absolutely no risk with hiring either of us.

To those of you that are thinking about going to the first meeting just to see what the company is about, you get bombarded with statistics about debt, told that you can make money with interest, and told over and over that they can help you make 'six digit income.'
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#203 Consumer Comment

Total Ignorance....news flash, not all of us "po' folks" are imbeciles

AUTHOR: Amber - (Canada)

I have been reading through all of these "scam" reports on Primerica, and I seem to be seeing the same things over and over again "low class-middle class people are not going to succeed in life regardless of what company they go with, as they lack the education and business skills to do anything, they will struggle financially anyways for the rest of their lives, as they do not have college degrees."

I have read repeatedly that "those who get involved with Primerica are desperate, pathetic, imbeciles etc." Why? Because we would like to enjoy some financial freedom in life as well?? I have recently gotten involved with Primerica because I saw an opportunity to give my son a life that I have not ever been able to have.

I am sorry that I did not have the opportunity to go to University or College. Not all of us are born with the silver spoon up our a$$ and have rich parents/families or whatever to foot the bill. Some of us are not able to even get student loans. I was not able to get a student loan because I have a dependant and my bank account balance is not strong enough for them to justify giving some loser like myself the opportunity to go to school. In other words, I am a "risk".

After being beaten down, having my hopes and dreams completely stamped out for my family by ignorant people like most of you out there, it was nice to have someone say to me "y'know what Amber? We are willing to help you, to give you an opportunity, to open the doors that have been slammed in your face constantly, all you have to do is want it, have the drive to succeed, to help others like yourself, and be willing to learn, grow, and work for it."

I did not even pay a dime to get involved with Primerica. My sponsor, who I only met once out of an ad in my newspaper, listened to me. He understood how hard we have struggled. And he took the upfront cost out of his own pocket for me. He actually beleives in me. And he is the first person who ever has. Now, this is not the case all the time, but to say that all Primerica Representatives are evil is just plain ignorance. A lot of them really and truly want to help families like mine. They have big hearts, and most of them also have been where I am.

To say that poor and middle class people are unworthy of financial growth and success is just plain wrong. The people who do say these things are exactly those who would throw rocks at a homeless person, or swing a quarter in their face and throw it down the street to watch them run for it.

If Primerica does not turn out to be what I think it is, I will not be dissapointed. Because atleast I got my a$$ up in the morning and tried. Atleast I will know that I worked hard. And sometimes, it is ok for hardwork not to financially pay off, because atleast you will have learned something. There is more to life then your bank account balance. And I am sorry, but the $199 is a small price to pay to go through a course in life insurance and get licensed to sell insurance with whoever and whenever you want. I looked into it, and to go to college for the same thing, tack on about $2000 more.

Being licensed to present and sell insurance is something that would mean a lot to me. I would never be able to afford the course in a college or university, and Primerica has given me that opportunity. Atleast if nothing else, I still will have my life license. So I lose nothing, I risk nothing. It is completely up to me whether I choose to fail or not.

So, am I a stupid person because I would like to give my family a good life? Because I don't want to be in a panic every week and a half because I ran out of paycheque, and now the groceries are low, utility bills are piling up, rent is due, etc.? I don't think it makes me stupid, it makes me human.

For all of you "upper class" who turn your nose up at the rest of us "only average" type, if you are so concerned about seeing a true imbecile, it is as simple and convenient as looking in a mirror. After all, unless it is easy, who would be interested right :)

I did not write this to put everyone down, but to stick up for those whose voice is very rarely heard, and even if and when it is, it is not taken seriously. I think Primerica is a good company so far. If it turns out it isn't, oh well! I am sorry for those of you who may have dealt with some bad representatives or have not had success with the company, but please don't tell me that I am a moron because I want to atleast give it a try. As the saying goes..."anything in life that is worth doing is never easy."

Thank you for taking the time to read this.
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#204 UPDATE EX-employee responds

Where do your loyalties lie (Wichita)?

AUTHOR: Stuart - (U.S.A.)

Gary,

I see you post often on here and your posts are so weak I have to believe that you're actually trying to undermine Primerica while pretending to represent them.

You may actually be an agent for a competitive
insurance company (which one I haven't determined yet). I hope under these circumstances the EDitor lets you keep posting.
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#205 UPDATE Employee

Leyroy

AUTHOR: Gary - (U.S.A.)

You're not our competition & never will be... just the opposition is all. You & people like you help create a market for us. You have cheap term ... so what ... I've never come across any of it! Doesn't mean it's not out there, just not here where I'm located. I have only gotten beaten a couple of times with 10 year level term. Group term in some cases will beat us but then there's also group term that's expensive, even more than ours as you so aptly keep stating. And we both know that if you get laid off or become disabled that group term will terminate or lapse.

Your comebacks about PFS are almost older than dirt... I'm glad you're content. There's an old indian saying, about not criticizing someone until you've walked 10 miles in their mocassins. We are recruiting people from your side who've seen the light. Just the other day we recruited a gentleman who's making 6 figures with his current company, he resigned & went full time with us. His old company offered him an additional $50 grand to stay ... & he turned them down. His reason: We have a system that beats the general agency system like a drum... his words not mine.
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#206 Consumer Comment

Gary still has no clue about rest of industry..evenm after being told

AUTHOR: Leroy - (U.S.A.)

gary says: My statement that a fulltime independent agent still holds.
<<
Gary says: you still need permission to have a general agency.
<<< Only if you want to subject yourself to one company. There are a half dozen super agencies out there that will let you become a general agent with subagents with a phone call. Why in the world someone would want to limit themselves to the products of one company in today's world is beyond me. Actually its a rather quaint notion, outdated for sure but kinda sweet and old fashioned.

Gary says; My Senior National Director has 14,000 blah blah blah and makes a gozillion bucks a year, or month, or whatever.
<<
Gary says: the guy making $500,000 is not an exception
<<
Gary says: primerica changed how insurance industry sells stuff.
<<<< Yeah right. We've heard this kind of crap from you before about how you're "riding a tidal wave of name recognition" and how you're "growing by leaps and bounds". The cold hard stats tell a different story. Primerica is barely in the top 50 of companies selling insurance even though their sales force is 10 times larger than any one else's. Primerica only had a 2.5% growth in premium income last year despite having 100,000-130,000 agents out there....and 98% of them are new from the year before. If you've changed the way the industry sells why are you using a canned sales pitch that was designed in the 1970s? If you're on a tidal wave of name recognition why do recruiting pitches start with a false claim about looking into a management position with Citigroup?

No matter what the rhetoric...the facts remain....primerica sells overpriced insurance products and overpriced loans to unsophisticated customers who don't bother to do a little shopping before buying.

No matter the primerica rhetoric to the contrary you can do exactly what primerica does without primerica's help. You can sell term life only if you want. You can do loans with dumbass biweekly payment plans if that floats your boat. You can sell the exact same mutual funds and start people with as little as $25 a month if you choose.. You can do it all somewhere else, not give away your first 6 sales, and make 2-4 times the commission from the very first sale while selling better products.
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#207 UPDATE Employee

Stuart in NJ

AUTHOR: Gary - (U.S.A.)

My statement about an independant full time agent, key word, full time agent will never make what we make with PFS still holds. Even if your (hypothetical) agent can become a general agent, he can't recruit & train until he gets permission to have a general agency. Correct? And I'm sure he's limited on the number of people he can have or recruit into his general agency.

When I came on board I could locate & train anyone I wanted in the business, so long as they had not committed any felonies. I did not have to become a general agent or own a general agency which I believe takes big bucks, right? My Senior National Sales Director (has over 14,000 people in his organization that he over-rides to the tune of $2.6 million dollars this year, and it's still growing, of which about 20-30 are direct to him, but then he was one of the founders so he's an exception.

We have a new guy on the block who began with us just 5-6 years ago & he's certainly not one of the fat cats, but his income is growing by over $100,000 per year, last month he was paid $60,000 in one month & his 12 month rolling income just went over $500,000. And he's not an exception!

From when we first began we did 2 things. One we changed the way insurance gets sold in the USA by tackling the largest & most powerful industry in the world. And 2nd we not only created wealth for those who founded the company, but we have continued to build new people who less that 8 years ago never even heard of our company.
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#208 UPDATE EX-employee responds

Poor Poor Gary (Wichita)

AUTHOR: Stuart - (U.S.A.)

Gary,

You're hopelessly outclassed. You know that an average means everybody who works at Primerica including the fat cats. If you cut out the fat cats, then the average income drops even further (it's probably realistic to cut out the fat cats since nobody who starts at the bottom works their way to the top anyways as far as Crimerica's history goes).

"We recruit people Part-time, what is it about part-time you do not understand?" What is it about making a decent income, part-time or full-time that you don't understand? Using your example of McDonalds, the average income per employee at McDonalds blows away the average income of a Primerican which you can't deny the truth of.

"You may say our term is 40%-something more expensive but it's still way cheaper than any whole life or universal (whole life) policy." Then why does Citigroup (which Primerica is part of) sell whole life policies?
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#209 Consumer Comment

Agree to disagree and then retreat...that works

AUTHOR: Leroy - (U.S.A.)

Gary, once again you show absolutely no knowledge whatsoever of the rest of the insurance industry. If you're a 20 year vet of this business then you have been the most sheltered 20 year vet in all of history.

You said an independent can NEVER make as much as you do in your system. NONSENSE. First of all an independent can become a general agent and have 100s of agents working under him. I have come to know at least three people in this business that started as producers and now have 100s of agents working under them. My buddy Richard W, in San Diego has 1,000 agents who write policies through him who produce an average of 450 apps a month. The difference between what he does and what primerica does is that each agent is also an independent and they write what they choose through him. They make 90% commission on each term policy and Richard gets 20%. The other difference is that its his office that directs each app through underwriting. You do the math. Richard has 4 full time employees.

Here is more bad news for your initial statement that an independent can never make as much......according to US Bureau of Labor Statistics the average self employed household makes $141,000 per year. Out of 100,000-130,000 Primerica reps (the numbers vary depending on which shill is talking) only 2,000 make $100k a year and only 8,000 make as much as $50k a year. The average household income in 43 of 50 states is over $50k a year.

Lastly, whenever you talk someone out of a 6% 30 year loan to give them a 7.75% loan with a biweekly payment plan you have shackled them with more debt. You make a few thousand, as you claim, but citigroup, who thought up this cynical marketing program, makes $50,000-100,000 extra per loan.

Its bad enough that you underinsure people because the primerica term life product line is overpriced to support the bloated MLM commission structure, but they take away $50,000-100,000 from someone's retirement with a double-speak loan and that is criminal in my opinion.

Gary.....you keep saying to read Kiyosaki about creating wealth....I keep telling you to read Jack Guttenberg about mortgages. Pages 112-123 talk about mortgage scams and it sounds like it reads straight out of the canned sales pitch you deliver to people.
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#210 Consumer Comment

Agree to disagree and then retreat...that works

AUTHOR: Leroy - (U.S.A.)

Gary, once again you show absolutely no knowledge whatsoever of the rest of the insurance industry. If you're a 20 year vet of this business then you have been the most sheltered 20 year vet in all of history.

You said an independent can NEVER make as much as you do in your system. NONSENSE. First of all an independent can become a general agent and have 100s of agents working under him. I have come to know at least three people in this business that started as producers and now have 100s of agents working under them. My buddy Richard W, in San Diego has 1,000 agents who write policies through him who produce an average of 450 apps a month. The difference between what he does and what primerica does is that each agent is also an independent and they write what they choose through him. They make 90% commission on each term policy and Richard gets 20%. The other difference is that its his office that directs each app through underwriting. You do the math. Richard has 4 full time employees.

Here is more bad news for your initial statement that an independent can never make as much......according to US Bureau of Labor Statistics the average self employed household makes $141,000 per year. Out of 100,000-130,000 Primerica reps (the numbers vary depending on which shill is talking) only 2,000 make $100k a year and only 8,000 make as much as $50k a year. The average household income in 43 of 50 states is over $50k a year.

Lastly, whenever you talk someone out of a 6% 30 year loan to give them a 7.75% loan with a biweekly payment plan you have shackled them with more debt. You make a few thousand, as you claim, but citigroup, who thought up this cynical marketing program, makes $50,000-100,000 extra per loan.

Its bad enough that you underinsure people because the primerica term life product line is overpriced to support the bloated MLM commission structure, but they take away $50,000-100,000 from someone's retirement with a double-speak loan and that is criminal in my opinion.

Gary.....you keep saying to read Kiyosaki about creating wealth....I keep telling you to read Jack Guttenberg about mortgages. Pages 112-123 talk about mortgage scams and it sounds like it reads straight out of the canned sales pitch you deliver to people.
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#211 UPDATE Employee

Same Old Same Old Stuart in NJ

AUTHOR: Gary - (U.S.A.)

You've posted these steps for newbies (such as protecting your warm market, not sharing info or referrals with anyone, etc.) so many times ... is that all you have in your arsenal? I know they don't make records anymore ... but you certainly sound like one ... or a CD that skips!

And this forum IS a place for people who "feel" or believe they've been ripped off ... in order to vent their frustrations but there also is a tab for rebuttals or didn't you notice that each & every time you respond??

Taking all the licensed people in PFS as a group, then dividing it by the total compensation paid to the field force & coming up with your $2,000 to $6,000 per year average ... also is assinine! Using that logic, if we take all the top management including the president or CEO's income (in any corporation) & put their income in the pot then add in all of the employee's pay & then divide that dollar amount by the total employees, are you saying now that CEO's don't make a 6 or 7 figure income, is that right? Your logic would say then that they only earn just a little more than their employees??

Dumb .... Dumb .... Dumb !

We recruit people Part-time, what is it about part-time you do not understand? They only go full-time when their part-time income equals or exceeds their job. That way there's nothing to lose & everything to gain. Some may just want to fund their IRA, or eliminate debt or buy a big screen TV to watch the NBA Playoffs or whatever. That's OK with us ... but a very few want to change careers & want to be their own boss. To those people who do the work ... & a little bit more ... come the big incomes. Everyone has the same opportunity, if they choose to work or not work...it's not our fault if they choose not to. Or if they quit that's their choice. Our turnover rate is about the same percentage as the industry... 80% - 85% quit. If you're an independant & you recruit 5 qualified people ... 4 will quit the first year. That's 80% which leaves just one producer. We recruit 100 & 80 quit (80%) that leaves 20 producers. Out of those 20 will emerge 2 Regional Vice Presidents. We don't know which 2 of the original 100 will make it ... so we give them all the same chance & we do not have a crystal ball. It's a numbers business but also a people business & we're building distribrution which is the life-blood of any organization. Our products are the back bone.

When Ray Crock formed McDonalds and other fast food franchises started popping up ... his managers would come to him & say ... We need to diversify & offer other stuff & he said ... No, first we need the outlets, then & only then will we diversify. When Micky - D's came out with the Happy Meals & put a little Hot Wheels car in each box, they marketed more hot wheels than all retail stores in the USA combined! Their franchise first sold for less than $700 & now you can't come within smelling distance of a McDonald's franchise for less that $800,000! And they sold more products because they had a distribution machine that was duplicatable & could be run by teenagers, college students & old people (who didn't plan for their retirement)!! We're building a distribution machine by puting outlets in place.

You may say our term is 40%-something more expensive but it's still way cheaper than any whole life or universal (whole life) policy. When a breadwinner dies & we not only deliver the death claim (which in most cases is 10 times the average death claim paid by the industry) but we help that survivor with a plan (Will) to invest that money, pay off debts, establish college funds for their kids ... I believe that extra $10
to $20 dollars a month is well worth it. Because cheap term from any company that sells trash value life insurance does not come with any other benefits at all.

Finally ... about 6 years ago we recruited a young man (married) 26 years old but with no kids who managed a retail store. His annual income was about $26,000 per year working 60 hrs a week on average. He recruited on, and like most struggled somewhat in the business but could see a real opportunity. He was not making much money & he went on the internet & discovered a website similar to this one & began to feel maybe he had made a huge mistake & should go back to his "real career" even though he felt he was over-worked, underslept & underpaid. Then he went to a builders school & something happened that renewed his belief just a little bit more ... & he committed to stick it out awhile longer. After about 90-days he decided to go full time & set a goal to quit his job to start out the new year. His old employer offered him $50,000 per year to give up this "deal" & stay with them. That was an insult! If he was now worth $50,000 per year he had been worth that all along while he had slaved away for $26,000 a year! FAST forward 6 years & Now he's almost 32 years old & last month he was paid over $60,000 in one month...his rolling 12 month's income just went over $500,000 ! ! ! Now if he would have listened to you or someone like you ... or his old boss he would have not failed but his life now would not even come close to what he has achieved
here with PFS ... you'd have to kill him to get him to quit.

Of course, with your logic, if you divide his income now by those who got licensed but did "nothing" with that license then he now has made only about $5,000 average annual income!

Mr Spock you're not!
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#212 Consumer Comment

Here is my suggestion

AUTHOR: Tom - (U.S.A.)

I have been on ripoff report for over a year. I have seen SO MANY things that made me laugh, cry, mad, and sick to my stomach.

Here is what i have learned in the end.

There is very little justice. God, who is watching, isnt going to determine that because you got ripped off by someone that YOU are going to heaven and the other guy to h**l. Thats trying to convince yourself YOU have never ever said something wrong to someone before, or ripped off your buddy's girlfriend, or lied to your parents blah blah blah......

No, before you start whining there is some kind of a 'sliding scale' here, it is for heinous crimes such as murder and rape and child molestation. But for ripoffs like this, its all the god damn same balony. People just justify that this is 'worse' than that blah blah blah....

I do believe God will give what is coming to us all. Unless we are Mother Teresa, we may find its the same plight, no better than ameriquest pricks or any other scam kings. Most people on here who were 'ripped off' are in TOTAL DENIAL of the other people they have ripped off in their past. Not paying bills is one good example.

Thus i have determined some things.

there are 2 kinds of people. One who scams , and one who gets scammed.

there are 2 kinds of scams. One outright crimminally illegal -called street crime such as drug trafficing, racketerring , vice, etc.....

the other 'white collar crime' which is -when the contract has enough 'disclaimers' - pseudo legal and is hard to shut down or get justice for.

There are 2 kinds of people who get scammed. Most of us in life have been scammed at one time or another.

the first person whines and complains , identifys with the 'victim' role and in fact continues to get scammed wherever they go.

the other stands up for themselvs -goes thru a long song and dance to quite often nowhere, BUT learns that NOT TO SET THEMSELVES UP TO BE SCAMMED.

Then there is the smart person, who gets scammed and realizes is not 'getting scammed' but merely the other person got the better of them, and they themselves take their head out of their butt- and start 'scamming ' others.

traditional scams:

-get someone to work for you. They do the work, you get the money.

-invest someone elses money. If it goes bad, THEY lose, not YOU.

-sell a service and charge an 'upfront fee' . Therefore if they back out -you still get something out of it. If they dont back out, gouge em for better terms using the 'deposit' over their heads.

-sell people extended warranties
-sell used cars
-sell people items with a 'mail in rebate'

-offer people trips -then make it a condition to use your overinflated service to go on the trip.

I have dozens of other totally legal scams.

I think you get the point.
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#213 UPDATE EX-employee responds

How to milk the Primerica opportunity for newbies

AUTHOR: Stuart - (U.S.A.)

Here's how to do it:

(1) Get licensed before going on appointments with your friends and relatives.

(2) Get referrals from your prospects and don't share them with anybody else (not even your "trainer").

(3) Cut out your "trainer" who is the middleman.

(4) Don't list the names of any references on the
sign-up application sheet.

(5) (bonus step) Try working off your referrals instead of going to shopping malls and job fairs. Your chances of selling would be far better when you use your referrals wisely (and easier on your feet and car gas)."

In general, the so-called trainers from Primerica
aren't licensed to train nor have they taken courses on finance in general, the only license they carry is to sell. That's why your upline goes after your friends and relatives (your warm market) to fatten his commission at your expense.
You can always learn how to sell for free from off the internet or read about it at the library.

So protect your warm market as it's YOUR MONEY, YOUR COMMISSION that you're entitled to. Don't let others steal that from you as it represents your best opportunity to make commission at Primerica.

Get your license and sell to your warm market as you don't need a trainer for that (if the trainer insists on training, let him find someone from his own clientele to demonstrate with).

Quoting Gary from Wichita:

"You will never earn more as an individual (independant) than with our system." The average
agent at Primerica makes less than $6,000 a year
(more recent figs list it as $2,000 which I'm
seeking confirmation on) and this is before business expense and 50% chargebacks (some system,
eh Gary?).

So Gary I guess you wore out your shoes hawking the trash term policies on street corners and malls. And you must be dozing off at the rah-rah
meetings. You're getting so desperate to come trolling over to Ripoff Report and do some shilling for Crimerica. You're in violation of the opening to Ripoff Report's mission which I'll quote on your behalf:

"Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."
You're not a consumer Gary nor are you an authorized representative for Primerica to represent Primerica on Ripoff Report. Most
important you don't try to help out the victims of Primerica as I and others are doing. The only reason why I hope the EDitor lets you keep coming
as you're another embarassment to Primerica.
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#214 UPDATE Employee

Agree to Disagree

AUTHOR: Gary - (U.S.A.)

You will never earn more as an individual (independant) than with our system. There are only so many hours in the day to work & you can only talk (sell)to a limited number of folks about your cheap term. Our system you can leverage your time by duplicating yourself thru training others. We're a hybrid system between MLM & the Real Estate Industy. We have taken the best of both worlds & combined them.

We can agree to disagree, right? You'll never convince me your way is better & likewise on my part convincing you any differently. I do know I will out earn any independant or captive agent in the business.

If I help a family get totally out of debt sooner, protect their income (or loss of it), and help them invest so when they're 59 - 67 years old they're debt free & have a half a million bucks (or more) to retire on, they're happy! Where before it was debt til they die & as for retirement it would have been ... hell-o - - welcome to WalMart? And if they die prematurely it would be devastating financially for their family. If I get paid a few thousand dollars to do all of that, am I over-paid? I say NOT!

I realize that some people have been approached by someone in PFS & it left a lot to be desired, as they felt used or deceived about whether we're PFS or Citigroup. A lot of people have been brain washed by these big liberal universities when it comes to jobs... and so they have preconceived notions about who we are.

So all of your old rantings about PFS (which by the way are old) will fall on my deaf ears... but I will agree to disagree... and that's the end of it.
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#215 UPDATE Employee

Agree to Disagree

AUTHOR: Gary - (U.S.A.)

You will never earn more as an individual (independant) than with our system. There are only so many hours in the day to work & you can only talk (sell)to a limited number of folks about your cheap term. Our system you can leverage your time by duplicating yourself thru training others. We're a hybrid system between MLM & the Real Estate Industy. We have taken the best of both worlds & combined them.

We can agree to disagree, right? You'll never convince me your way is better & likewise on my part convincing you any differently. I do know I will out earn any independant or captive agent in the business.

If I help a family get totally out of debt sooner, protect their income (or loss of it), and help them invest so when they're 59 - 67 years old they're debt free & have a half a million bucks (or more) to retire on, they're happy! Where before it was debt til they die & as for retirement it would have been ... hell-o - - welcome to WalMart? And if they die prematurely it would be devastating financially for their family. If I get paid a few thousand dollars to do all of that, am I over-paid? I say NOT!

I realize that some people have been approached by someone in PFS & it left a lot to be desired, as they felt used or deceived about whether we're PFS or Citigroup. A lot of people have been brain washed by these big liberal universities when it comes to jobs... and so they have preconceived notions about who we are.

So all of your old rantings about PFS (which by the way are old) will fall on my deaf ears... but I will agree to disagree... and that's the end of it.
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#216 UPDATE Employee

Agree to Disagree

AUTHOR: Gary - (U.S.A.)

You will never earn more as an individual (independant) than with our system. There are only so many hours in the day to work & you can only talk (sell)to a limited number of folks about your cheap term. Our system you can leverage your time by duplicating yourself thru training others. We're a hybrid system between MLM & the Real Estate Industy. We have taken the best of both worlds & combined them.

We can agree to disagree, right? You'll never convince me your way is better & likewise on my part convincing you any differently. I do know I will out earn any independant or captive agent in the business.

If I help a family get totally out of debt sooner, protect their income (or loss of it), and help them invest so when they're 59 - 67 years old they're debt free & have a half a million bucks (or more) to retire on, they're happy! Where before it was debt til they die & as for retirement it would have been ... hell-o - - welcome to WalMart? And if they die prematurely it would be devastating financially for their family. If I get paid a few thousand dollars to do all of that, am I over-paid? I say NOT!

I realize that some people have been approached by someone in PFS & it left a lot to be desired, as they felt used or deceived about whether we're PFS or Citigroup. A lot of people have been brain washed by these big liberal universities when it comes to jobs... and so they have preconceived notions about who we are.

So all of your old rantings about PFS (which by the way are old) will fall on my deaf ears... but I will agree to disagree... and that's the end of it.
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#217 UPDATE Employee

Agree to Disagree

AUTHOR: Gary - (U.S.A.)

You will never earn more as an individual (independant) than with our system. There are only so many hours in the day to work & you can only talk (sell)to a limited number of folks about your cheap term. Our system you can leverage your time by duplicating yourself thru training others. We're a hybrid system between MLM & the Real Estate Industy. We have taken the best of both worlds & combined them.

We can agree to disagree, right? You'll never convince me your way is better & likewise on my part convincing you any differently. I do know I will out earn any independant or captive agent in the business.

If I help a family get totally out of debt sooner, protect their income (or loss of it), and help them invest so when they're 59 - 67 years old they're debt free & have a half a million bucks (or more) to retire on, they're happy! Where before it was debt til they die & as for retirement it would have been ... hell-o - - welcome to WalMart? And if they die prematurely it would be devastating financially for their family. If I get paid a few thousand dollars to do all of that, am I over-paid? I say NOT!

I realize that some people have been approached by someone in PFS & it left a lot to be desired, as they felt used or deceived about whether we're PFS or Citigroup. A lot of people have been brain washed by these big liberal universities when it comes to jobs... and so they have preconceived notions about who we are.

So all of your old rantings about PFS (which by the way are old) will fall on my deaf ears... but I will agree to disagree... and that's the end of it.
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#218 Consumer Comment

Average People

AUTHOR: Peter - (U.S.A.)

It's funny how there are constant arguments here back and forth. The fact is this ripoff website lets anyone say anything about anything.For example in the search bar type in any company you can think of and there will almost always be complaints, i.e. target, walmart, circuit city, any mlm or home based business, nearly every business out there. All of you are average people and expect to get rich quick. The fact is that takes time,(most of the time). Primerica is a legite company and truly does help people and offers good services, as are the majority of the business' people comment on on this site. You people need to read books like Rich Dad Poor Dad by Robert Kiyosaki or just any book on wealth in general and educate yourselve's.

Everyone against this company i'm sure are middle class people just trying to get by, taking advice from other middle class people. The fact is this is the group of people this company Primerica helps; averagae people, and the ones who follow through and have enough discipline do great. You average people are taught, go to school, get a good job, then work your entire life for money; you are never taught how to have money work for you and that is why most of you will always be average and just complain about everyone else.

Keep playing the Powerball, you'll get your break.
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#219 UPDATE EX-employee responds

Responding to Will (Fairfax Station)

AUTHOR: Stuart - (U.S.A.)

I find it admirable that you're making the effort to investigate Crimerica.

Ripoff Report is loaded with anecdote about this company. The great majority of the postings are from those who've suffered from the despicable recruitment practices of Crimericans as evidenced by this website and others. As far as services go, there's no dispute that Crimerica sells a very expensive term insurance as Crimerica's own metamorphosis website attests to it (what it fails to explain is what the consumer gets in return for the extra money he or she pays for the policy). For the hard evidence you seek, I think it suffices to state that Primerica lacks the flexibility to service the consumer properly as compared to other life insurance companies (independent agents have even greater flexibility).

I hope you find this useful.
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#220 Consumer Comment

slightly more for a loan

AUTHOR: Leroy - (U.S.A.)

The difference between a $MART loan from primerica and a loan from other sources is about
$85,000-90,000 in interest paid on a $250,000 loan over 20 years. That is not "slightly" more when your self professed crusade is to SERVE the middle class. Seems more of a SERVICING to me.

What Ron and Gary and the other primerica shills don't want you to know is that you can do exactly the same things primerica preaches outside of primerica, offer better products to the consumer and get paid a lot more for doing it.

What primerica also don't want you to know is that they cherry pick the advice from so called financial experts and only relay what is favorable to their argument. When looking at Buy Term Invest the Rest those same experts they quote invariably say "find low cost life insurance and buy no load mutual funds".

Ron says 99% of who they visit with is in better shape later. Thats a matter of opinion and an opinion a half trained goon who works part time, from a company with a very limited product line, and who discourages their people from learning the rest of the business, cannot make.

Will, you're a business finance major. I can save a middle aged nonsmoking healthy couple
over $400 a year on 20 year term life insurance visa vi primerica. Ron says thats a slight difference. Whats the Lost Opportunity Cost of not investing that $400 a year elsewhere. Its $8,000 in raw premium NOT including the Lost Opportunity Cost of not having that $400 a year to invest elsewhere. Whats the lost opportunity cost on paying a 13th payment per year on your loan versus investing that 13th payment instead? Since the primerica folk like to throw around 12% as a reasonable expected rate of return on mutual funds and the loan they want to give you is 7-8%, the lost opportunity cost is 4-5% differential a year on that 13th payment.

NONE of that is in the elementary level Financial Needs Analysis they do for folks. No, instead they want you to repeat tripe to the people who trust you like "interest rates don't matter, only time in debt matters."

Will, if you're a business/finance major, you'd get deathly bored at primerica. Go to Merrill-Lynch, New York Life, Prudential, etc.....
Get a base of knowledge and then go out on your own. You'll make a LOT more money for yourself
and do a lot BETTER job for your clients. I can tell you from experience working 5 years at AAA where we only sold auto, home and tow cards I was so bored I couldn't see straight. You're obviously brighter than I am if you graduated with a business/finance major. You'd get bored much quicker.
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#221 UPDATE Employee

Response to Will's Request for Info

AUTHOR: Ron - (U.S.A.)

Will,
As you can tell by this thread, people have some pretty strong opinions about what we do and how we do it. To varying degrees, some points offer some valid observations and some are so blatantly off base as to laugable...not to mention suspect.

I would say this to you; any kid in his underwear sitting in his parents basement can come on here, with absolutely no credentials, and blast away at almost any firm. I don't know what their agenda is, I don't know if they are as "qualified" as they claim to be, and I frankly don't care. Neither should you.

If you want to find out about Primerica or any other company, a largely unregulated computer blog is hardly the place to find good data. If you have read some of the negative comments made on here, have you noticed that there is a distinct lack of attribution to credible publications? Primerica has been written about in all of the following: Forbes, Fortune, Success at Home magazine the Wall Street Journal, and SmartMoney Magazine. Typically, all of these credible sources have had positive things to say about Primerica Financial Services. Where are the sources (and I mean CREDIBLE publications) that are backing any of the allegations that Primerica is a scam, a rip-off, or a terrible company? Doesn't it strike you as odd that if we were really as bad as some of these idiots on here (no names, but two who come to mind have first names that start with L and S) claim we are, that someone, anyone recognized as being a reputable source, would get on the air with an expose' or publish a book or article telling everyone to avoid PFS like the plague???

It is KILLING those people I just mentioned that nothing like that is being done and the reason is that no one independent source in the financial industry is willing to come out and condemn this company because they actually believe we are helping tens of thousands of people get out of debt sooner, acquire some life protection, and save and invest money.

Are there companies that may offer less expensive loans or insurance? Undoubtedly, if someone looks hard enough, I'm sure that there is. Will most people do that? Of course not. Most people would continue to wallow in their own financial slime and want someone to show up and put things right for them. And, if they pay slightly more for the products they need to facilitate that, they don't care. That's what some of the buffoons on here just miss or deliberately overlook.

99.9% of the clients we serve are in far better shape financially after they work with us than were in before we met with them. And at the end of the day, isn't that what they wanted to begin with?

So, before you get concerned with the points that people like Leroy and Stuart make, recognize that it has never been PFS's goal to necessarily offer the cheapest term insurance, the least expensive refinance loan or the lowest load mutual fund in existence. Most people don't get those things from other firms, either.

Blasting PFS because we aren't the least expensive in every product area is like saying that anyone who paid more for a car than what a Yugo costs got ripped off. That isn't just unsound logic, it is asinine.

I would encourage you to ive PFS a try; you could go to work for much less valuable companies and learn far less in the process. If you decide against exploring a role for yourself with my company, however, we are going to go right on growing with you or without you.

Good luck!
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#222 UPDATE EX-employee responds

Responding to Frank, Las Vegas

AUTHOR: Stuart - (U.S.A.)

When it comes to education, I regard it as very important which is why I'm responding to Frank's post and some of his remarks.

Quoting:

"Pros.....No other company before this had ever came to me and offerd a finacial education." Do you think the rule of 72, life insurance and dollar cost averaging are a financial education? Crimerica doesn't support a financial education, period. Crimerica will not lay out a thin dime for higher education preferring to see its agents operate in the dark (to the shillers: paying commission to the agent doesn't count as financing nor subsidizing an education for the agents).

"In all I like that they provide a financial education to their prospective client." The FNA is a mere sale's tool and doesn't educate the consumer. Leroy will explain how smart loans and policy replacement is a typical consumer ripoff on the part of Crimerica.
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#223 Consumer Comment

financial education

AUTHOR: Frank - (U.S.A.)

I used to be a PFS rep. I did it for 5 years and accquired my Life License and my Series 6 and 63. After getting my licenses I was refunded my $200. I have since moved on to other types of businesses outside the financial services industry. Which I am very successful. I have some pros and cons when speaking of PFS.

Cons.....I didn't like the recruiting aspect of the business so much.(though not required) I found it very difficult to keep the recruits motivated, especially at the begining. I guess if you play the numbers you will eventually get some productive team members. I also didn't like the whole charge back system on the insurance policies, but i think every company has some type chrage back system. I wanted total ownership of my business but doubted that would ever be possible. Even at the higher promotion levels the company still had a major say on how you ran things. But I guess you get the samething if you buy into a franchise type business. Don't know of any franchise you can get into for $200.

Pros.....No other company before this had ever came to me and offerd a finacial education. I think my knowledge of compounding intrest, life insurance and dollar cost averaging are invauluable. Before them knowone had shown me how to figure my net worth, get out of debt let alone open my mind to locate and find more education on personal finance.

I personally think that a typical agent/company would rather keep you in the dark on your policies and other investments than you fully understand that you were getting negative returns or to fully understand how much he/she was making.(not to say all investments work like that) It was no secret to my clients what I was making.

Anyone on this site trying to say any type of insurance you save your money with is good for you should look at books and articles (or their own policy if they have one) out there that rebuts that.(not just what PFS says) When I when up against other agents they all sat back and said I didn't know what I was talking about till I showed the client and agents third party articals, books and compared policy to policy. Not one could ever explain the negative returns in the policies. It is there in black and white.

In all I like that they provide a financial education to their prospective client. I don't think any companies are out there doing that....I don't think they want too. I have a very solid finacial foudation as a result from being involved with PFS.

Regards
Frank
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You can get the hard data yourself. Simply get a quote for primerica term life insurance for yourself and a wife (real or imaginary).* Take the amount of premium the give you then go on the internet or call one of the national quoting companies and get a competing quote. Find out not how much lower the premium is...but find out how much more coverage you can get for the same premium.

After you have done this, get a quote for a $MART loan from them. Listen to all the stuff about scheduled versus simple interest, biweekly plans, interest rates don't matter only time in debt matters, etc...... Get it writing. A Good faith Estimate. Then go to any loan broker on the street or call one of national biggies. Get a competing quote. Now do some mathematical analysis. here is some info when you do it;

a.) the greatest possible advantage simple interest can have or scheduled interest on a loan of any length is 30 days. It doesn't take very long for a 6.00% scheduled interest loan to wipe out any possible savings a 7.75% simple interest loan will have...usually 4-5 months.

B.) the only thing a biweekly payment plan does is make you pay the equivalent of 13 mortgage payments in 52 weeks instead of 12. Simply add a 13th payment to your to your competing quote. You can do this by computing what 108.33% of the competing loans principle and interest payment is scheduled to be

C.) If you Google How much will my loan payments be" and also "How long will it take to pay off my loan" you can do all the calculations you need to do.

D.) Lastly, know this. Once licensed there are a half dozen super agencies out there who will start you at 80-105% commission from your very first policy, not 25% after you have given away your 6 best leads to your upline. I can't give you any names of Super agencies but I can tell you a story.

The other day I was climbing a MOUNTAIN thinking about all things FINANCIAL. I said to my wife DOT, we should visit my pal COM." After that we should go see good old Ric Gallegos...or agent X-105 as he likes to be CALLED. We should ask him what commissions he would pay us."

You're on your own as far as a broker-dealer for securities. However, you should be able to get a 60-40% split right from the start. I hear primerica people start at 25-75%.

I understand a loan with primerica earns the beginning agent a max of $1350. Independent brokers get $4,000-6,000 for the same loan. Go talk to one. They start almost all their people at 50-50 spilts. Some get more.

If you're a business/finance major you should easily be able to see through the primerica smokescreen. Just do the math and remember, you can create your own downline in numerous other places. In the REAL financial world they are called sub-agents, not downline.

*-By the way, I have primerica's rates. They stink. Do a search for my name on this board and you'll find lots of places where I compared primerica prices to other highly rated companies.
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What's this?
You can get the hard data yourself. Simply get a quote for primerica term life insurance for yourself and a wife (real or imaginary).* Take the amount of premium the give you then go on the internet or call one of the national quoting companies and get a competing quote. Find out not how much lower the premium is...but find out how much more coverage you can get for the same premium.

After you have done this, get a quote for a $MART loan from them. Listen to all the stuff about scheduled versus simple interest, biweekly plans, interest rates don't matter only time in debt matters, etc...... Get it writing. A Good faith Estimate. Then go to any loan broker on the street or call one of national biggies. Get a competing quote. Now do some mathematical analysis. here is some info when you do it;

a.) the greatest possible advantage simple interest can have or scheduled interest on a loan of any length is 30 days. It doesn't take very long for a 6.00% scheduled interest loan to wipe out any possible savings a 7.75% simple interest loan will have...usually 4-5 months.

B.) the only thing a biweekly payment plan does is make you pay the equivalent of 13 mortgage payments in 52 weeks instead of 12. Simply add a 13th payment to your to your competing quote. You can do this by computing what 108.33% of the competing loans principle and interest payment is scheduled to be

C.) If you Google How much will my loan payments be" and also "How long will it take to pay off my loan" you can do all the calculations you need to do.

D.) Lastly, know this. Once licensed there are a half dozen super agencies out there who will start you at 80-105% commission from your very first policy, not 25% after you have given away your 6 best leads to your upline. I can't give you any names of Super agencies but I can tell you a story.

The other day I was climbing a MOUNTAIN thinking about all things FINANCIAL. I said to my wife DOT, we should visit my pal COM." After that we should go see good old Ric Gallegos...or agent X-105 as he likes to be CALLED. We should ask him what commissions he would pay us."

You're on your own as far as a broker-dealer for securities. However, you should be able to get a 60-40% split right from the start. I hear primerica people start at 25-75%.

I understand a loan with primerica earns the beginning agent a max of $1350. Independent brokers get $4,000-6,000 for the same loan. Go talk to one. They start almost all their people at 50-50 spilts. Some get more.

If you're a business/finance major you should easily be able to see through the primerica smokescreen. Just do the math and remember, you can create your own downline in numerous other places. In the REAL financial world they are called sub-agents, not downline.

*-By the way, I have primerica's rates. They stink. Do a search for my name on this board and you'll find lots of places where I compared primerica prices to other highly rated companies.
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What's this?
You can get the hard data yourself. Simply get a quote for primerica term life insurance for yourself and a wife (real or imaginary).* Take the amount of premium the give you then go on the internet or call one of the national quoting companies and get a competing quote. Find out not how much lower the premium is...but find out how much more coverage you can get for the same premium.

After you have done this, get a quote for a $MART loan from them. Listen to all the stuff about scheduled versus simple interest, biweekly plans, interest rates don't matter only time in debt matters, etc...... Get it writing. A Good faith Estimate. Then go to any loan broker on the street or call one of national biggies. Get a competing quote. Now do some mathematical analysis. here is some info when you do it;

a.) the greatest possible advantage simple interest can have or scheduled interest on a loan of any length is 30 days. It doesn't take very long for a 6.00% scheduled interest loan to wipe out any possible savings a 7.75% simple interest loan will have...usually 4-5 months.

B.) the only thing a biweekly payment plan does is make you pay the equivalent of 13 mortgage payments in 52 weeks instead of 12. Simply add a 13th payment to your to your competing quote. You can do this by computing what 108.33% of the competing loans principle and interest payment is scheduled to be

C.) If you Google How much will my loan payments be" and also "How long will it take to pay off my loan" you can do all the calculations you need to do.

D.) Lastly, know this. Once licensed there are a half dozen super agencies out there who will start you at 80-105% commission from your very first policy, not 25% after you have given away your 6 best leads to your upline. I can't give you any names of Super agencies but I can tell you a story.

The other day I was climbing a MOUNTAIN thinking about all things FINANCIAL. I said to my wife DOT, we should visit my pal COM." After that we should go see good old Ric Gallegos...or agent X-105 as he likes to be CALLED. We should ask him what commissions he would pay us."

You're on your own as far as a broker-dealer for securities. However, you should be able to get a 60-40% split right from the start. I hear primerica people start at 25-75%.

I understand a loan with primerica earns the beginning agent a max of $1350. Independent brokers get $4,000-6,000 for the same loan. Go talk to one. They start almost all their people at 50-50 spilts. Some get more.

If you're a business/finance major you should easily be able to see through the primerica smokescreen. Just do the math and remember, you can create your own downline in numerous other places. In the REAL financial world they are called sub-agents, not downline.

*-By the way, I have primerica's rates. They stink. Do a search for my name on this board and you'll find lots of places where I compared primerica prices to other highly rated companies.
Respond to this report!
What's this?
You can get the hard data yourself. Simply get a quote for primerica term life insurance for yourself and a wife (real or imaginary).* Take the amount of premium the give you then go on the internet or call one of the national quoting companies and get a competing quote. Find out not how much lower the premium is...but find out how much more coverage you can get for the same premium.

After you have done this, get a quote for a $MART loan from them. Listen to all the stuff about scheduled versus simple interest, biweekly plans, interest rates don't matter only time in debt matters, etc...... Get it writing. A Good faith Estimate. Then go to any loan broker on the street or call one of national biggies. Get a competing quote. Now do some mathematical analysis. here is some info when you do it;

a.) the greatest possible advantage simple interest can have or scheduled interest on a loan of any length is 30 days. It doesn't take very long for a 6.00% scheduled interest loan to wipe out any possible savings a 7.75% simple interest loan will have...usually 4-5 months.

B.) the only thing a biweekly payment plan does is make you pay the equivalent of 13 mortgage payments in 52 weeks instead of 12. Simply add a 13th payment to your to your competing quote. You can do this by computing what 108.33% of the competing loans principle and interest payment is scheduled to be

C.) If you Google How much will my loan payments be" and also "How long will it take to pay off my loan" you can do all the calculations you need to do.

D.) Lastly, know this. Once licensed there are a half dozen super agencies out there who will start you at 80-105% commission from your very first policy, not 25% after you have given away your 6 best leads to your upline. I can't give you any names of Super agencies but I can tell you a story.

The other day I was climbing a MOUNTAIN thinking about all things FINANCIAL. I said to my wife DOT, we should visit my pal COM." After that we should go see good old Ric Gallegos...or agent X-105 as he likes to be CALLED. We should ask him what commissions he would pay us."

You're on your own as far as a broker-dealer for securities. However, you should be able to get a 60-40% split right from the start. I hear primerica people start at 25-75%.

I understand a loan with primerica earns the beginning agent a max of $1350. Independent brokers get $4,000-6,000 for the same loan. Go talk to one. They start almost all their people at 50-50 spilts. Some get more.

If you're a business/finance major you should easily be able to see through the primerica smokescreen. Just do the math and remember, you can create your own downline in numerous other places. In the REAL financial world they are called sub-agents, not downline.

*-By the way, I have primerica's rates. They stink. Do a search for my name on this board and you'll find lots of places where I compared primerica prices to other highly rated companies.
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#228 Consumer Comment

Where can we get hard data on Primerica's services?

AUTHOR: Will - (U.S.A.)

This thread has gotten pretty far off its original course about informing people about Primerica.

My relation:
I have been contacted by Primerica and have had one interview with them earlier today.

Sense then I have been doing substantial research on them. They seem like a horrible company but I have no hard data to prove this.


My Question:
Where can I find actual quotes and information on what Primerica does for its clients in comparison to other companies?


Recruitment:
Primerica's recruiting process for me is basically exactly what was described 4 years ago at the start of this thread. Resume and education irrelevant, diverse employees (ethnicity), all very young. They were very eager to sign me up right away and have me fork over the $199. Similar to a Pyramid Scheme setup if you've ever had any experience with that sort of thing you'd know/agree. -My interview was one on one with a 25 year old go getter who was pretty nice to talk to.

My Individual Circumstance:
Being a business major concentrated in banking and financing, I have been searching for work in this field, and I do want the licenses they are offering at a subsidized price. Though I have been advised away by a long time professional in the career from getting them with this company and recommended to get them with an actual company I would want to stay with.

Bottom Line:
I haven't written Primerica off completely because I don't actually know if they help or hurt their clients. Some have said they give crappy rates, where can I can the hard data to back this up? What are their rates and rates of their competitors? Give me irrefutable evidence so I can tell my recruiter he should quit his job and he is screwing people financially.


*side note, I did a search online and finding quotes isn't the easiest thing in the world. I just want to let you know I have tried and have gotten some quotes but not Primerica's and not enough to adequately represent the market to my standards.


Will - VA
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#229 Consumer Comment

So Primerica attacked the host of this website - read this!

AUTHOR: Leroy - (U.S.A.)

According to Maxine in Illinois Primerica called her within 13 hours of a post here and attacked the character of the host of this website.

It doesn't matter what the character of the host is here. He could be a card carrying communist child molester who kicks all dogs he sees that are under 20 pounds and contributes all his earnings to Al Qaeda.

That doesn't change these things;

a.) primerica charges too much for life insurance
b.) primerica charges WAY WAY WAY too much for loans

READ THIS LINK:
The Robert Paisola Report: A Formal Report on www.ripoffreport.com and Ed Magedson
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#230 UPDATE EX-employee responds

Making money at Crimerica's expense.

AUTHOR: Stuart - (U.S.A.)

Here's how to do it:

(1) Get licensed before going on appointments with your friends and relatives.

(2) Get referrals from your prospects and don't share them with anybody else (not even your "trainer").

(3) Cut out your "trainer" who is the middleman.

(4) Don't list the names of any references on the
sign-up application sheet.

(5) (bonus step) Try working off your referrals instead of going to shopping malls and job fairs. Your chances of selling would be far better when you use your referrals wisely (and easier on your feet and car gas)."

In general, the so-called trainers from Primerica
aren't licensed to train nor have they taken courses on finance in general, the only license they carry is to sell. That's why your upline goes after your friends and relatives (your warm market) to fatten his commission at your expense.
You can always learn how to sell for free from off the internet or read about it at the library.

So protect your warm market as it's YOUR MONEY, YOUR COMMISSION that you're entitled to. Don't let others steal that from you as it represents your best opportunity to make commission at Primerica.

Get your license and sell to your warm market as you don't need a trainer for that (if the trainer insists on training, let him find someone from his own clientele to demonstrate with).

As far as that loser's post, Ron from Bonita, on
4/17/06 I would say "selective amnesia" is very descriptive of you and the other shillers who choose to get around the main points made by me and others as you're fighting a battle you can't win.

"Why don't EITHER of you have a response to the fact that firms no less than Pioneer, AIM, MFS, Oppenheimer, Fidelity, VanKampen, Legg Mason, Putnam and a host of other mutual fund companies all do millions of dollars of business with PFS?"
During WWII I recollect Winston Churchill referring to Communist Russia as the "devil" as England allied with the Soviet Union to fight Germany - does that make Russia (at that time) any more legitimate? All those companies you named care about is the bottom line - they're not particularly concerned about the character of Crimerica (it's worthwhile mentioning that AM Best recently downgraded Primerica).

"I frankly don't know why Eliot Spitzer hasn't called you..." Well lame brain the answer is very obvious that since AG Eliot Spitzer represents the State of New York and I'm in New Jersey that Mr. Spitzer has no reason to be calling on me (however when Crimerica was Milico, NY State did go to court against them).

"Does your mom know you are playing on her computer?" Do you even have a dad?
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#231 UPDATE EX-employee responds

Making money at Crimerica's expense.

AUTHOR: Stuart - (U.S.A.)

Here's how to do it:

(1) Get licensed before going on appointments with your friends and relatives.

(2) Get referrals from your prospects and don't share them with anybody else (not even your "trainer").

(3) Cut out your "trainer" who is the middleman.

(4) Don't list the names of any references on the
sign-up application sheet.

(5) (bonus step) Try working off your referrals instead of going to shopping malls and job fairs. Your chances of selling would be far better when you use your referrals wisely (and easier on your feet and car gas)."

In general, the so-called trainers from Primerica
aren't licensed to train nor have they taken courses on finance in general, the only license they carry is to sell. That's why your upline goes after your friends and relatives (your warm market) to fatten his commission at your expense.
You can always learn how to sell for free from off the internet or read about it at the library.

So protect your warm market as it's YOUR MONEY, YOUR COMMISSION that you're entitled to. Don't let others steal that from you as it represents your best opportunity to make commission at Primerica.

Get your license and sell to your warm market as you don't need a trainer for that (if the trainer insists on training, let him find someone from his own clientele to demonstrate with).

As far as that loser's post, Ron from Bonita, on
4/17/06 I would say "selective amnesia" is very descriptive of you and the other shillers who choose to get around the main points made by me and others as you're fighting a battle you can't win.

"Why don't EITHER of you have a response to the fact that firms no less than Pioneer, AIM, MFS, Oppenheimer, Fidelity, VanKampen, Legg Mason, Putnam and a host of other mutual fund companies all do millions of dollars of business with PFS?"
During WWII I recollect Winston Churchill referring to Communist Russia as the "devil" as England allied with the Soviet Union to fight Germany - does that make Russia (at that time) any more legitimate? All those companies you named care about is the bottom line - they're not particularly concerned about the character of Crimerica (it's worthwhile mentioning that AM Best recently downgraded Primerica).

"I frankly don't know why Eliot Spitzer hasn't called you..." Well lame brain the answer is very obvious that since AG Eliot Spitzer represents the State of New York and I'm in New Jersey that Mr. Spitzer has no reason to be calling on me (however when Crimerica was Milico, NY State did go to court against them).

"Does your mom know you are playing on her computer?" Do you even have a dad?
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#232 UPDATE EX-employee responds

Making money at Crimerica's expense.

AUTHOR: Stuart - (U.S.A.)

Here's how to do it:

(1) Get licensed before going on appointments with your friends and relatives.

(2) Get referrals from your prospects and don't share them with anybody else (not even your "trainer").

(3) Cut out your "trainer" who is the middleman.

(4) Don't list the names of any references on the
sign-up application sheet.

(5) (bonus step) Try working off your referrals instead of going to shopping malls and job fairs. Your chances of selling would be far better when you use your referrals wisely (and easier on your feet and car gas)."

In general, the so-called trainers from Primerica
aren't licensed to train nor have they taken courses on finance in general, the only license they carry is to sell. That's why your upline goes after your friends and relatives (your warm market) to fatten his commission at your expense.
You can always learn how to sell for free from off the internet or read about it at the library.

So protect your warm market as it's YOUR MONEY, YOUR COMMISSION that you're entitled to. Don't let others steal that from you as it represents your best opportunity to make commission at Primerica.

Get your license and sell to your warm market as you don't need a trainer for that (if the trainer insists on training, let him find someone from his own clientele to demonstrate with).

As far as that loser's post, Ron from Bonita, on
4/17/06 I would say "selective amnesia" is very descriptive of you and the other shillers who choose to get around the main points made by me and others as you're fighting a battle you can't win.

"Why don't EITHER of you have a response to the fact that firms no less than Pioneer, AIM, MFS, Oppenheimer, Fidelity, VanKampen, Legg Mason, Putnam and a host of other mutual fund companies all do millions of dollars of business with PFS?"
During WWII I recollect Winston Churchill referring to Communist Russia as the "devil" as England allied with the Soviet Union to fight Germany - does that make Russia (at that time) any more legitimate? All those companies you named care about is the bottom line - they're not particularly concerned about the character of Crimerica (it's worthwhile mentioning that AM Best recently downgraded Primerica).

"I frankly don't know why Eliot Spitzer hasn't called you..." Well lame brain the answer is very obvious that since AG Eliot Spitzer represents the State of New York and I'm in New Jersey that Mr. Spitzer has no reason to be calling on me (however when Crimerica was Milico, NY State did go to court against them).

"Does your mom know you are playing on her computer?" Do you even have a dad?
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#233 UPDATE EX-employee responds

Making money at Crimerica's expense.

AUTHOR: Stuart - (U.S.A.)

Here's how to do it:

(1) Get licensed before going on appointments with your friends and relatives.

(2) Get referrals from your prospects and don't share them with anybody else (not even your "trainer").

(3) Cut out your "trainer" who is the middleman.

(4) Don't list the names of any references on the
sign-up application sheet.

(5) (bonus step) Try working off your referrals instead of going to shopping malls and job fairs. Your chances of selling would be far better when you use your referrals wisely (and easier on your feet and car gas)."

In general, the so-called trainers from Primerica
aren't licensed to train nor have they taken courses on finance in general, the only license they carry is to sell. That's why your upline goes after your friends and relatives (your warm market) to fatten his commission at your expense.
You can always learn how to sell for free from off the internet or read about it at the library.

So protect your warm market as it's YOUR MONEY, YOUR COMMISSION that you're entitled to. Don't let others steal that from you as it represents your best opportunity to make commission at Primerica.

Get your license and sell to your warm market as you don't need a trainer for that (if the trainer insists on training, let him find someone from his own clientele to demonstrate with).

As far as that loser's post, Ron from Bonita, on
4/17/06 I would say "selective amnesia" is very descriptive of you and the other shillers who choose to get around the main points made by me and others as you're fighting a battle you can't win.

"Why don't EITHER of you have a response to the fact that firms no less than Pioneer, AIM, MFS, Oppenheimer, Fidelity, VanKampen, Legg Mason, Putnam and a host of other mutual fund companies all do millions of dollars of business with PFS?"
During WWII I recollect Winston Churchill referring to Communist Russia as the "devil" as England allied with the Soviet Union to fight Germany - does that make Russia (at that time) any more legitimate? All those companies you named care about is the bottom line - they're not particularly concerned about the character of Crimerica (it's worthwhile mentioning that AM Best recently downgraded Primerica).

"I frankly don't know why Eliot Spitzer hasn't called you..." Well lame brain the answer is very obvious that since AG Eliot Spitzer represents the State of New York and I'm in New Jersey that Mr. Spitzer has no reason to be calling on me (however when Crimerica was Milico, NY State did go to court against them).

"Does your mom know you are playing on her computer?" Do you even have a dad?
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#234 Consumer Comment

Maxine in Illinois

AUTHOR: Leroy - (U.S.A.)

So you're gonna give Primerica try. You said as long as you're helping people and not hurting them what the heck.

First of all, since you will not get a real education on how whole life , universal life or variable life really work you will be in no position to tell these people if the policies should be replaced by term or not. All you will have is the propaganda of a competing company. You may hurt them. I had a client who's son-in-law tried to tell him to dump his universal life policy and buy term with no regard to the fact the father-in-law had a blood disorder that precluded him from buying insurance. I was at the table in one of those "agent confrontations" as primeridorks call them and this kid had NO CLUE WHATSOEVER how the policy worked. He kept repeating rhetoric as fact. Finally I told him if he pointed to the GUARANTEED MORTALITY TABLE and said that how much was being deducted from the policy each year I would personally file a complaint with the insurance commissioner. The man kept his policy in force and died from the disorder two years later.

I had another client who was told by a neophyte primerica agent he should drop his Second to Die whole life inside of an Irrevocable Life Insurance Trust and buy term plus mutual funds. This guy had no idea that idf my clent did that the mutual funds would becom,e part of his taxable estate and there would be a 55% tax on the entire amount of the funds, not just the growth. Any tax on the growth would be on top of the 55% estate tax.

When it comes to those god awful loans they peddle, you can REALLY hurt a family with those things. There is no way in hell, no way in hell, no way in hell ANYONE UNDER ANY CIRCUMSTANCES is better off taking a 7.75% loan when he can qualify for a 6% loan. All that crap about scheduled versus simple interest and biweekly plans and blended interest rates is just that....crap. Its designed to divert attention away from the interest rate being 1.5-2.0% more.

A mistake like that on a $200,000 loan will cost that family $87,000 in extra interest.

Come to California. They are hiring teachers here left and right. Not only that, California teachers have the second best pension plan in the world second only to major league baseball players. Retire here after 30 years and you will have a guaranteed pension of about $80,000 a year that can never be outlived. You'd have to have $1.5-2.5 million in the bank at retirement to equal it. Even the poorest districts start teachers at $36,000. The better ones start in the low $40,000s. They max out at $100,000-110,000. One last benefit.....and you will know what it is the first time you step outside your home on a chilly January morning and its ONLY fifty degrees. You'll know it again the following July when you come home and its eighty to ninety degrees with NO humidity. Why do you think there are so many of us here?
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#235 Consumer Comment

Chester in Utah

AUTHOR: Leroy - (U.S.A.)

I agreed with everything you said except one thing.......I feel people also ought to check out people like me...independents. Nothing wrong with any of those other people you mentioned. I strated out with one. However, now that I am independent I can sell all the products you mentioned, (with just a few exceptions) through the Mega-agencies and not be in a position to have to push any one companies products to meet a sales quota.
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#236 Consumer Suggestion

Primerica, A.L.Williams? Citigroup?

AUTHOR: Bruce - (U.S.A.)

Oh, what memories! I carried a Term Insurance policy through A.L. Williams. Then the name changed to Primerica. I was really more interested in the 0% interest mortgage ALW was going to offer. Their office was a sublease of our development company which was sliding into bankruptcy due to rising interest rates in the early 1980's.

I was licensed to sell insurance. The Agency manager carried the class fee. He didn't conduct classes anymore. The class was very enlightening. Universal Life was the most profitable for agents and never lived long. Term was the cheapest (wholesale rate, as I recall). ALM sold term. It always clobbered the popular whole-life for cost. I tried to sell one policy, to an old friend, and fellow employee of the then bankrupt developer.

"The old man", himself, A. L., didn't like agents to flaunt their riches, so the manager discretely called his wife on his new cell phone in the car. I don't remember if I was impressed by the phone, the story, or the manager flaunting his riches. I didn't need to worry about flaunting, for myself.

Primerica was surfacing in the news, and to get a better term deal, I jumped ship 10 years into my 15 year policy. [I have always found it odd that policies need to die for better deals; or, more coverage.]

The name resurfaced a couple years later. A fellow employee had their mutual fund and was touting its return. I checked. That fund had the highest fees (load) of all listed by a popular review.

CitiGroup? They are the next search on this site.
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#237 Consumer Comment

Possibly a PFSU Recruit

AUTHOR: Maxine - (U.S.A.)

Why possibly? Well, I am currently a teacher in IL making decent money. With all the layoffs, guess what? That's right - I got laid off. I can still find a teaching job but since I get summers off, I thought this might be an opportunity to see what Primerica is all about. My "recruiter" is a Regional VP and the son of a family friend. I came right out and told him that I don't want to be snowed. I don't want smoke blown up my you-know-what. I wanted nothing less than the absolute truth. I also turned the interview around and asked a few questions myself. I felt I had to because I, like many, are skeptics. I am going to give it a try and see what happens. I don't like the idea of "recruiting" because so many people are skeptical, yet on the other hand if I feel this is truly a good service (and I have yet to find out for sure), that others can benefit. The key is to be honest: honest with yourself and honest with others. Yes, making loads of money would be great, but if this company is also about helping others, what's wrong with that? And what's wrong with making money as long as you're not ripping people off? This is the land of opportunity, isn't it? Foreigners come here, work hard, make lots of money, drive around in Lexus's, Mercedes, and BMWs. Why can't native-born Americans do the same? Mainly because the majority of Americans are lazy and want everything handed to them. That'd be great, but it doesn't work like that for everyone...or even for most. I'm willing to work hard.

As the saying goes, the rich keep getting richer. There will eventually be NO middle-class. I don't want to be in an individuals of lower SES (socioeconomic status). I want my own Lexus and a nice house. If I can do that by helping others, I'm all for it. However, I'd rather drive around in my Chevy Malibu making an average salary than ruining the lives of others. With that said, I am going to give Primerica a try. I am analytical myself, and once I have all the facts I can make an educated decision. If this company does what they claim, that is help those in financial straits, I am interested because I want to help people.
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#238 Consumer Suggestion

well said, unfortunately

AUTHOR: Jay - (U.S.A.)

well said Chester, unfortunately

logic will get you nowhere with the paid crimerica shills like Gary. Give Gary credit though for hanging in, most of the PFS zombies who post here are new recruits full of piss and vinegar. after 6 months of no income, loss of friends and staggering credit card bills they disappear like jimmy hoffa leaving their warm market holding overpriced term policies and a not so smart loan that costs them tens of thousands of dollars in higher interest rates.

Gary continues to shill despite being intellectually devoured by Leroy on a daily basis.
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#239 Consumer Comment

A (Real) Financial Professional's Response

AUTHOR: Chester - (U.S.A.)

I read this post with interest. I am agent for the largest life ins company in the USA and have had many negative run-ins with Primerica in the past.

I have a few comments:
1.) One poster thanked PRIMERICA for offering their Financial Needs Analysis (FNA) for free. What Primerica doesn't mention is that they cannot charge a potential client for the service. You must be a licensed fee-based planner (ChFC, CFP, etc) to charge a client for your services. All other professionals can only charge for the products they sell.

2.) Primerica isn't the largest financial company. Citigroup is number one, Primerica is a subsidiary of Citi. Oh, and Citi is big mostly due their banking operations, not their investments or insurance.

3.) Primerica is the laughing stock of the financial industry. I'm not kidding, they are pathetic. My company replaces policies written by Primerica agents ALL THE TIME. The number one reason? Most agents from primerica don't last more than a few weeks in the business.

If any of you are considering purchasing insurance or investment products, or doing retirement planning, I HIGHLY recommend going through a local agent/representative of one of the large, reputable companies out there such as:
New York Life
Prudential
Northwestern Mutual
Charles Schwabb
Merryl-lynch
etc.

I work for one the above, but I would reccomend any of these companies. Find a good agent with a good company that you like and do your business with them.

Thanks.
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#240 Consumer Comment

Mike in Oshawa

AUTHOR: Leroy - (U.S.A.)

Primerica is not competetive in the United States. I've heard they are better in Canada but I don't have access to their canadien rates. Clarica no longer exists here in the States, they were bought out by Midlands National.

I'm just curious. Does primerica charge women the same premium as men in Canada like they do the USA? What a ripoff. No bigger ripoff exists in insurance.
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#241 UPDATE Employee

Crimerica?

AUTHOR: Mike - (Canada)

Hey Jay, s'up buddy?

That's actually quite creative. Very good.

Up here in Canada we have three main competitors, Clarica, London Life, and SunLife. So here's a question... since I have yet to lose a policy based on price to any of these three companies, what can you do with their names?

Oh, and never mind just using price alone as the criteria, all three still sell whole and universal life, the greatest ripoff ever perpetrated on the north american masses. Can you work that into their new nicknames too, if you would? Thanks kindly.
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#242 Consumer Suggestion

Charles, do your self a favor and listen to Leroy

AUTHOR: Jay - (U.S.A.)

Take his simple test of comparing prices on a typical term policy. ask yourself why Crimerica is 42% higher than average, then ask yourself if you would market this product to your mom ,dad, brother, sister, best friend etc...

When you're done, scroll back and read up on the painful realities of Crimericas not so smart loan and ask yourself once again if you would sell this P.O.S. to your family and friends.
If the answer is "yes, I believe in primerica and everything the RVP in a cheap suit told me" then Congratulations and welcome to the world of Crimerica!

If your answer is no then please send leroy and myself a note of thanks. We have just saved you 6-12 months of financial hardship while saving your family and friends tens of thousands of dollars in higher premiums, closing costs and higher interest rates. happy holidays, Jay
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#243 Consumer Comment

Charles in Baton Rouge what happened to #1? Every other primerican has been claiming Citigroup is the largest financial services company in the world.

AUTHOR: Leroy - (U.S.A.)

I am confused. You said "Primerica (Citigroup) is rated #8 in Forbes 500 of largest American Corporations.

First of all, what happened to #1? Every other primerican has been claiming Citigroup is the largest financial services company in the world.

Secondly, what exactly do you mean Primerica(Citigroup). There is Primerica. There is Citigroup. Citigroup owns Primerica. Hiowever that means absolutely nothing to primerica policyholders. If primerica ever went belly up Citigroup has no legal obligation whatsoever to primerica policyholders...none, zip, zilch, nada.
They can either bail them out or let them sink like American Express did when its pet insurance company ran into problems.

Let me ask you this. LIMRA says the average rate for $500,000 of 20 year term on a 40 year old
non smoking standard risk male in 2005 will be $640 yet Primerica charges $910. Isn't that a lot of difference? Thats 42% higher. Is this what you want to do to your clients? We won't even get into how bad SMART loans are.
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#244 UPDATE Employee

Please Explain

AUTHOR: Charles - (U.S.A.)

Please explain why Primerica (Citigroup) is listed in Fortune Magazine in the #8 spot as one of America's Largest Corporations. And my personal opinion is that there is no way that every corporation in america can please each employee 100%. I'm actually ready to join.
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#245 UPDATE Employee

most of you really dont seem to know what youre talking about

AUTHOR: Iril - (U.S.A.)

it is extremely depressing to see all this when barely half the people who left the rebuttals have had experience with the company. i think unless you have been in the company for more than a year; dont talk. because youre ruining the chances of other people for your own ignorance and stupidity. Primerica has many many representatives and dont you think if anything went horribly wrong at least one of those representatives would stand up to sue the company? its common sense. so unless you have experience with this company, please just keep your mouth shut and your opinions to yourself.
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#246 Consumer Comment

No in Orlando

AUTHOR: Leroy - (U.S.A.)

Primerica does not advertise in mass media because its founder, A.L. Williams, determined that it was more effective having a friend or family member deliver the company's message directly to a consumer in their living room with contract papers in hand. Friends and family have a built-in trust with the consumer
that a TV or newspaper ad could never have.

You seem like a very analytical person. I'd like to ask you to do two things for yourself;
1. get a quote from primerica for life insurance, then go to any website that quotes multiple carriers and compare it. Do it for yourself as a male, a female, a smoker and a non-smoker.

2. calculate the payment on a $250,000 primerica loan. Find out how many years it would take with a biweekly payment plan to pay the loan off. Then calculate the same loan with 1.5% less interest. Use the same payment you would make to primerica. See how long it takes to pay off that loan. Don't listen to the nonsense about how they are the only ones who can do biweekly or scheduled versus simple interest. Thats smoke and mirrors. Let the mathematics do the talking.

Now, after you have done that ask yourself "could I in good conscience sell this to my brother or sister, or Mom and Dad? If the answer is yes.....you'll make at primerica.
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#247 REBUTTAL Individual responds

All too familiar...good and bad

AUTHOR: No - (U.S.A.)

After reading 1/4 of this report I can say this sounds very familiar. But I can vouche that my expereinces arent 100% exactly what was said here.

I was contacted by a primerica rep recently and she found my resume through a reputable site. Again she also told me about managment position but I did have a background in Finance, Accounting, and Managment. People were very nice and genunine. I had leadership credentials that she was happy to see. She just seems like a regular employee looking to for a another good employee.

I have to say I love Primerica's plan. I love how they have tremndous resources at their disposal. And I thought this would help give the customer the best leverage in terms of planning their finances. I also thought this would make Primerica competative in insurence, morgages and mutal funds. According to some of the expereiences written I guess not.

Interview #1

went off great...and I truely thought this was a great insitution. They explained their concept and asked if I was interested. Naturally I said yes because it sounded great.

Interview #2

The red flags came up at interview #2 where I was put in a room with alot of candidates. Most had some expereince in business and perhaps majority of them were in managment. But not many had expereience in Finance nor a degree in finance. Im willing to say there are some that dont even have a degree at all. That was a concern becusae this is a finanical insitution and for a customer to build trust they would like credentials. either someone who has expereience working with a financial service sector or one that has been studying finance. I realize plenty of places people dont start off with finance degrees. But they manage to get a brokage license which is a crash course in finance.

like the guy from smith barney once said...you dont need a finance degree but it will give you incredible leverage in terms of understanding the market better then the guy who sold cars for 10 years. Infact I dont think most of those guys know what or how federal funds rate affects morgages, stock market or loans.

I relize expereince is weight heavily over a degree because thats they my school emphasis getting a internship. But expereience mixed with a financial/managment background is alot more potent then expereience with a art degree background and etc.

noding it off I assume these people were here for sales job becuase that doesnt require much experience or a degree in finance per say. You just have to be good at sales. So I assume this company has a bigger role for me as a manager. I was disapointed that they wanted to start me off at the bottom rung but that was understandable becaseu they want someone to be familiar of what the bottom rung feels like. And I do beleive that is how a good company is formed...by promoting within. Same as in the military where w general was once a liutenant.

But I was deeply disapointed to find out that someone without a finance degree or a college degree could be advanced more quickly then I can. Doesnt sound right becuase I spent a crap load of money in college thinking that it will give me leverage. A person can work hard and get great sales numbers and recruitment number but that has nothing to do with managment or making managment decisions. Thats a making of a great sales person or a good human resource person. Not a "manager" which is what the title suggest if you recruit enough people or sell enough insurence. Like again smith barney uses a example that their sales peopel make more then their manager. Infact lots of managers with their MBA think of forfiting their status to a lower sales job. But not every manager is a sales person. and not every sales person can handle managment. Of course smith barney is now a member of citigroup but it seems like their organization structure is completely different. Perhaps there are lots of CEO that dont have a degree in Finance or even busienss. But with a fortune 500 company (citigroup is now liek #8?) I would think that their managment team all have MBAs.

And even right now im looking at managment jobs in a finanical instituion on monster.com and they prefer atleast 5 years experience and a finance/managment or some type of business degree to be considered for the job. MBA is a plus! To be promoted to manager in less then a year is mind boggling. same with me. Someoen who is a recent college graduate and has no experience in managing a financial institution can be duped into promises of a managment position withing 30-60 days if the goals are met? you're right if it sounds too good then it must be.

Interview #3

redflag #2 was that the primerica email address is a hotmail account or yahoo account. infact its your personal email. I found it very unprofessional. So youre asking clients to trust you but you give them a private email account that has ---@hotmail.com? A long cry from what the UBS people have ---@UBS.com. I will use their favorite line. A company like citigroup has over 1.5 tillion in assets and yet they cant even provide their associates with a email address. Or like other have said with their own office/voice mail and etc. My friend works for a CPA firm 1/1,000,000,000 of the size citigroup is and yet they have thier own email address and private work lines. I find smith barney services much more organized and professional...even though they might do similar things. Im looking at their website right now and theres a way to contact local advisors and office locations. You cant even find local office locations for primerica.

redflag #3 was overhearing someone at Primerica try to contact another "recruit." I was waiting in the lobby and I overheard him saying, "we're not looking for someone with a strong financial background." I like to think they look at the candidates closely but it seems like he was more concerned about getting him in the office for an interview then he was about the person on the phone.

So I paid the $199 for the licensing class thinking if Primerica was really a rip off atleast I would still have my licenses to work for another firm. I asked her about certain certifications like a CFP. She said it was not nessecary. So I figured I'll give it a try. with such a big name like citigroup it can not be too much of a rip off.

So here I stand today ready to go into team meetings and orientation. I have what people said in the back of my mind and hoping that they will not pressure me into sales and recruitment. I told them flat out I would not be comfortable with recruitment and sales. I have a strong mind and I will not let them brainwash me. But if the things they tell me makes sense I will work for them. And from what was expressed in these rebuttals the info/training sessions are fantastic.

I may know my share of markets and derivatives but I know nothing about morgages or life insurence. so im looking forward to that

I gave up a internship at highly reputable UBS financial services becusae this happens to pay part time and a sort of gurantee advancment/job. Also there was a legal dispute between my school and UBS...so this was even more attractive. Job security is very important to a graduating senior in College. and unfortunately its prime hunting ground for Primerica.

The more I learn about primerica the moer I see that its a pyramid scheme or a MLM scheme. And wondering why wasnt a big red flag raised earlier since primerica started this and how they are able to skip by the FTC. Yet I keep hearing the same thing from Primerica. we do this because we care about our employees and we are very compliant with ruels and regulation. he assured me that theres no unethical business practices.

Big mistake was telling me that Primerica throws all its money in its employees and not in advertisement. resulting in redudant lines like, "Primerica, a member of citigroup." or "you may not have heard of us but you might have heard about out parent company citigroup." If they jsut spent more money on advertisment they would get more business back and Primerica would be a house hold name like Metlife, Prudential, New York Life and etc. This is the biggest red flag I ahve of the company. and horrible approoach to business. they would have to rely on recurit and their networks to draw in business. And that turns it into "okay you're my friend/family memeber...I will give you business." Then "I saw youre commercial and I feel like you can help me out." one is out of pitty and the other is inquiring your services out of free will. And I will feel much better helping those people then my own freinds and family. Unless I know someone who really needs help. And of course this concept sets up the MLM marketing scheme. And some may say its a pyramid scheme.

I come from a completely unbias standpoint. I have in the back of my mind doubts about this company. But I also have posititve thoughts that they do offer a fantastic service. I will give it a try and see if it truely is a rip off or not.

I'll report back on what I think about the company after completing it. The classes and licensing do not bother me as they can be used at another job. I wont truely know how primerica is until I start workgin for them. As a back up measure Im still searching for a job. If primerica ditch its recuriting methods and organization structure for more traditional ones I would not be so concerned about working for them. And I would have a 100% favoriable opinon about them. No doubt they have a excellent business plan and idea. its jsut the way they go about finding recruits that bothers me. And how you can make your money at primerica.


I am searching for a new job and leaving a back door open just incase I find primerica to be too suspicious. I just dont know if putting Primerica on my resume will hurt me or aid me.
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#248 Consumer Comment

Jose in Milpitas

AUTHOR: Leroy - (U.S.A.)

In California there is nothing in your license that would not allow you to immediately send Primerica a letter of resignation. You would immediately be able to get appointed with and sell for literally 100s of companies. If the editors here would allow it I'd give you the names and phone numbers of several nationwide super-agencies that would license you to sell for all the big names in term insurance....but they won't.

The contract you signed with Primerica may have a non-compete clause which could prevent you from selling for anyone else for a specified period of time. I know at one time they had one but I don't know if it only prevents you from contacting
the people you have already sold primerica too
...or your RVP has sold to, or if it prevents you for selling to anyone.
You'll have to check that out.

P.S.....don't forget, the people your RVP sold to can still turn down their policy with no loss of money if they are still in the Free Look period.
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#249 UPDATE Employee

Currently taking Life Agent classes through PFSU

AUTHOR: Jose - (U.S.A.)

I am actually a newly affiliated member of Primerica, having signed up about 6 weeks ago. I am currently taking the Life Agent classes through PFSU. But in, surprisingly, reading through this entire thread, I have come to the conclusion that there may be other opportunities available to help me reach my goals.

I understand that I am a captive agent, unable to help people getting something else outside of Primerica. WOULD I BE ABLE TO USE THE LICENSE I GET FROM PFSU AND USE IT SOMEWHERE ELSE SHOULD I DECIDE TO END MY AFFILIATION WITH THEM? I ask because I would hate to have to go through all 52 hours of the class again.

Another question I have deals with all the negative comments towards Primerica. For instance, Primerica agents actively seek out people to speak with, to educate them. The group I am with does not sell anything on the first visit with a person. But there are lots of comments that say that Primerica isn't really helping because their products are overpriced. I guess my question is, if you have better prices and can help people better, do you actively seek people out and give them financial advice free of charge regardless of whether they purchase anything with you or not?

I really truly want to understand what other financial services companies do the help people and what other opportunites are out there. I just signed someone up the other night and I don't want to sign more people up for Primerica if there is truly something better out there.

Thanks,
Jose in Milpitas, California
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#250 UPDATE Employee

Why I think this report got submitted.

AUTHOR: Richard - (U.S.A.)

I wont claim to have read everything here, there is just too much and my head hurts. I will say that having read about 1/4 of what has been said here that, even working for PFS, I agree, in part with this rip-off report.

Let me begin by telling you all how I became a part of PFS. My lovely wife to be was approached by someone in PFS and we sat down and discussed the business and what it had to offer. We both agreed that it would be a good chance to make money for our wedding. So we went to the overview meeting and then started going to teambuilding meetings.

Now that we have been in the company for a few months I can say that it is great and awefull at the same time. While the company is a great opportunity, it requires hard work. It also requires 200 dollars to get going.

I see that there is some concern about how much you are pushed to recruit. I will not lie or make excuses, it is true to an extent. I live in Michigan and the branch that I work for encourages recruiting, but it also encourages actually getting out there and helping people.

We are pushed to recruit primarily because that is how the over all business grows. We get recruited, we work for the company, we make money and learn, we then start our own branch office and repeat the process. Also because it is hard to recruit. People in general are very skeptical.

Why do we recruit people who have no experiance in the field? Mostly because we can. People that have experiance in the financial field are already working somewhere doing that, and many times they have a contract that says they have to stay there for a certain amount of time. Also, you dont need to know a lot about financial to do this, they teach you. Lastly, why shouldn't we?

What is it that makes this a good choice? A few things. First of all we really do not care where you are coming from. If you want to be given a chance we will give it to you. Also it feels good to really help someone, and we do that. We have little competition, not many companies try to help middle america like we do.

Pyramid scheme? I said I would not lie to you so i won't. It is very similiar to a pyramid scheme. The way you advance is as such: Recruit more people, make sales, repeat. It is a simple system and it does mean that you have people who work under you and above you at all times, but it also means the you really are in charge of how well you do. I will be the first to say that it look bad fromt he outside.

Can they help me financially? Maybe. That depends on what you need. In all honesty I can say that in order to help you you have to want to be helped. This applies to bith working for PFS, or being a client. I have personally helped people save a lot of time and money in getting out of debt and preparing for retirement.

What do I think went wrong in trying to recruit the person who initially made this report? They were, and others here it seems, approached by someone who care more about money than helping. I know that sounds strange, but it is true. Recruiting people makes you and those above you money, so they want you to recruit.

The branch I work for consists of 3 different teams, meaning 3 different offices really. We all help each other and we all believe in actually getting out there and helping people. Yes, we make good money doing it, but if we see that someone is only in it for the money we don't like it. We reward those who try and we all help each other to do better.

I also should mention that the people you talked to were focusing on getting you to join up with them and not on helping you and helping others. I really believe you made the right decision in not joining with them. I am just sad to see that the actions of the few can tarnish the reputation of the many. Or, perhaps I am lucky and got into a branch that is good and there are few of those. Either way I wish you the best of luck and I and in no way angry with you like many of the others seem to be.

Now, for those of you who work for PFS and have reacted with such hostility to this report. Get over it. You people are doing nothing to help the image of our company by attacking the author of this report like many of you have done. You are only helping to prove his point by sounding like you belong to a cult.

Have some sense people. Answer his questions and concerns in a way that is honest and concise. You make us all look like the raving loons he was afraid we might be.
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#251 Consumer Comment

Dean in Zionsville is right

AUTHOR: Leroy - (U.S.A.)

You don't get rid of debt just moving it around. Primerica people love to quote Suze Orman and Dave Ramsay when they say buy term insurance, but then love to ignore them when they make a statement that contradicts the primerica canned sales pitch (aka the Financial Needs Analysis). Ramsay, Bob Brinker and others say NEVER use the home equity to pay off consumer debt. They aptly point out you will be paying for a car or refrigerator long after it has outlived its usefulness and another is needed. All say to devote the most payment to the highest interest debts first. As soon as one high interest debt is eliminated attack another.

Here is one concept I've never seen a primerican, hungry to sell an unneeded home loan, present;

"paying off an 19% debt is the same as making 19% PLUS your tax bracket on an investment".

They'd rather you pay off that 19% loan with a new 7.5% home loan. Of course when you do that you typically add another $5000-6000 in closing costs to your existing debt because primerica is so sweet and will just roll it into your new home loan. Isn't that special??

Friends don't let friends buy primerica.
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#252 Consumer Suggestion

Opportunities - your values, your reasons...

AUTHOR: Bob - (U.S.A.)

Primerica appears as an opportunity. It exists for you to choose or to not choose, in accordance with your personal reasons and values.

You determine what your reasons and values are in accordance with your upbringing, beliefs and experiences.

If an opportunity matches your reasons, then you will invest your time to discover more in detail about the level of involvement you must commit in order to produce reasonable results.

If an opportunity matches your values, then you will commit your life to producing lifetime results.

Opportunities presented to you throughout your life will seem to you as variations of bad or good, hard or easy, and wrong or right. The choice of opportunities for your life has been, is now, and will always be, yours to choose.
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#253 Consumer Comment

You are NOT helping people!

AUTHOR: Dean - (U.S.A.)

It is quite FOOLISH to think that paying off one debt with another is getting rid of debt. It is just moving it around. GET A CLUE!! If you REALLY want to help people then counsel them on MONEY matters; Not simply SELL them something. You DONT solve money problems with money. It is the symptom. Oh, that is right, you are HELPING people though. SCUM!
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#254 Consumer Comment

Robert in lafayette

AUTHOR: Leroy - (U.S.A.)

Robert concludes primerica isn't out for what is best for the loan client and that interest rates do matter.

This leads to some more primerica myths that need exposing;

1. Charging someone 1.5% more interest on a loan and then bragging that you don't charge for PMI is misleading. In actuality the PMI is built into the interest rate and EVERYONEV pays it...even the folks who have more than 20% equity in their home. Unlike PMI which drops off after 20% equity level is reached, that ridiculously high interest rate stays on the books forever.

1a) . primerica makes a similarly false claim on its term insurance and the Terminal Illness Rider. Primerica reps say
we're the only ones who include the TIR rider at no charge".......(the TIR will pay a % of the death benefit to the owner of the policy if the insured is diagnosed as terminal within 12 months.) I'm a broker......there is an extremely small cost to the insurance company for issuing the rider. They would pay the money a few months down the road anyway....and the minimal cost is built in to the policy...just like primerica's/ NO company that I know charges extra for the Terminal Illness Rider.

2. Primerica is the only company that will let anyone give it a try and build a team.
FALSE!!!!

There are a half dozen other marketing companies doing the same thing. They differ with primerica in these very important areas;
a.) the reps sell for numerous different companies, not just one, so they can be in a position to find the best deal for their client, not try to talk every client into the same deal
b.) all the companies they sell are cheaper and larger than Primerica itself
c.) they make from 80-100% commission form the very first policy they sell....not 25% after giving away their first 6 sales like primerica reps do.

3. "Interest rates don't matter...what matters is length of exposure to the interest rate". You'd have to be a crack addict to believe this. Its simple mathematics. ANY...and I mean ANY payment plan a primerica rep can offer you can be duplicated elsewhere at a lower interest rate. That means you will PAY LESS!!!!!

4. Primerica is the only company that won't charge a fee to do a biweekly payment plan.
To begin with, even if your bank does rip you off by $395 to set up a biweekly payment plan, you ll make up the $395 in two months maximum if your interest rate is 1.5% lower. Secondly, you don't even need a formal plan....just send in a payment every two weeks. Even better...just add 8.33% of the principle and interest to every payment and you will have avoided any bank fees and du-licated the value of a biweekly payment plan almost to the penny.

I have more but this is too long already.
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#255 Consumer Comment

Robert in lafayette

AUTHOR: Leroy - (U.S.A.)

Robert concludes primerica isn't out for what is best for the loan client and that interest rates do matter.

This leads to some more primerica myths that need exposing;

1. Charging someone 1.5% more interest on a loan and then bragging that you don't charge for PMI is misleading. In actuality the PMI is built into the interest rate and EVERYONEV pays it...even the folks who have more than 20% equity in their home. Unlike PMI which drops off after 20% equity level is reached, that ridiculously high interest rate stays on the books forever.

1a) . primerica makes a similarly false claim on its term insurance and the Terminal Illness Rider. Primerica reps say
we're the only ones who include the TIR rider at no charge".......(the TIR will pay a % of the death benefit to the owner of the policy if the insured is diagnosed as terminal within 12 months.) I'm a broker......there is an extremely small cost to the insurance company for issuing the rider. They would pay the money a few months down the road anyway....and the minimal cost is built in to the policy...just like primerica's/ NO company that I know charges extra for the Terminal Illness Rider.

2. Primerica is the only company that will let anyone give it a try and build a team.
FALSE!!!!

There are a half dozen other marketing companies doing the same thing. They differ with primerica in these very important areas;
a.) the reps sell for numerous different companies, not just one, so they can be in a position to find the best deal for their client, not try to talk every client into the same deal
b.) all the companies they sell are cheaper and larger than Primerica itself
c.) they make from 80-100% commission form the very first policy they sell....not 25% after giving away their first 6 sales like primerica reps do.

3. "Interest rates don't matter...what matters is length of exposure to the interest rate". You'd have to be a crack addict to believe this. Its simple mathematics. ANY...and I mean ANY payment plan a primerica rep can offer you can be duplicated elsewhere at a lower interest rate. That means you will PAY LESS!!!!!

4. Primerica is the only company that won't charge a fee to do a biweekly payment plan.
To begin with, even if your bank does rip you off by $395 to set up a biweekly payment plan, you ll make up the $395 in two months maximum if your interest rate is 1.5% lower. Secondly, you don't even need a formal plan....just send in a payment every two weeks. Even better...just add 8.33% of the principle and interest to every payment and you will have avoided any bank fees and du-licated the value of a biweekly payment plan almost to the penny.

I have more but this is too long already.
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#256 Consumer Comment

Robert in lafayette

AUTHOR: Leroy - (U.S.A.)

Robert concludes primerica isn't out for what is best for the loan client and that interest rates do matter.

This leads to some more primerica myths that need exposing;

1. Charging someone 1.5% more interest on a loan and then bragging that you don't charge for PMI is misleading. In actuality the PMI is built into the interest rate and EVERYONEV pays it...even the folks who have more than 20% equity in their home. Unlike PMI which drops off after 20% equity level is reached, that ridiculously high interest rate stays on the books forever.

1a) . primerica makes a similarly false claim on its term insurance and the Terminal Illness Rider. Primerica reps say
we're the only ones who include the TIR rider at no charge".......(the TIR will pay a % of the death benefit to the owner of the policy if the insured is diagnosed as terminal within 12 months.) I'm a broker......there is an extremely small cost to the insurance company for issuing the rider. They would pay the money a few months down the road anyway....and the minimal cost is built in to the policy...just like primerica's/ NO company that I know charges extra for the Terminal Illness Rider.

2. Primerica is the only company that will let anyone give it a try and build a team.
FALSE!!!!

There are a half dozen other marketing companies doing the same thing. They differ with primerica in these very important areas;
a.) the reps sell for numerous different companies, not just one, so they can be in a position to find the best deal for their client, not try to talk every client into the same deal
b.) all the companies they sell are cheaper and larger than Primerica itself
c.) they make from 80-100% commission form the very first policy they sell....not 25% after giving away their first 6 sales like primerica reps do.

3. "Interest rates don't matter...what matters is length of exposure to the interest rate". You'd have to be a crack addict to believe this. Its simple mathematics. ANY...and I mean ANY payment plan a primerica rep can offer you can be duplicated elsewhere at a lower interest rate. That means you will PAY LESS!!!!!

4. Primerica is the only company that won't charge a fee to do a biweekly payment plan.
To begin with, even if your bank does rip you off by $395 to set up a biweekly payment plan, you ll make up the $395 in two months maximum if your interest rate is 1.5% lower. Secondly, you don't even need a formal plan....just send in a payment every two weeks. Even better...just add 8.33% of the principle and interest to every payment and you will have avoided any bank fees and du-licated the value of a biweekly payment plan almost to the penny.

I have more but this is too long already.
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#257 Consumer Comment

Robert in lafayette

AUTHOR: Leroy - (U.S.A.)

Robert concludes primerica isn't out for what is best for the loan client and that interest rates do matter.

This leads to some more primerica myths that need exposing;

1. Charging someone 1.5% more interest on a loan and then bragging that you don't charge for PMI is misleading. In actuality the PMI is built into the interest rate and EVERYONEV pays it...even the folks who have more than 20% equity in their home. Unlike PMI which drops off after 20% equity level is reached, that ridiculously high interest rate stays on the books forever.

1a) . primerica makes a similarly false claim on its term insurance and the Terminal Illness Rider. Primerica reps say
we're the only ones who include the TIR rider at no charge".......(the TIR will pay a % of the death benefit to the owner of the policy if the insured is diagnosed as terminal within 12 months.) I'm a broker......there is an extremely small cost to the insurance company for issuing the rider. They would pay the money a few months down the road anyway....and the minimal cost is built in to the policy...just like primerica's/ NO company that I know charges extra for the Terminal Illness Rider.

2. Primerica is the only company that will let anyone give it a try and build a team.
FALSE!!!!

There are a half dozen other marketing companies doing the same thing. They differ with primerica in these very important areas;
a.) the reps sell for numerous different companies, not just one, so they can be in a position to find the best deal for their client, not try to talk every client into the same deal
b.) all the companies they sell are cheaper and larger than Primerica itself
c.) they make from 80-100% commission form the very first policy they sell....not 25% after giving away their first 6 sales like primerica reps do.

3. "Interest rates don't matter...what matters is length of exposure to the interest rate". You'd have to be a crack addict to believe this. Its simple mathematics. ANY...and I mean ANY payment plan a primerica rep can offer you can be duplicated elsewhere at a lower interest rate. That means you will PAY LESS!!!!!

4. Primerica is the only company that won't charge a fee to do a biweekly payment plan.
To begin with, even if your bank does rip you off by $395 to set up a biweekly payment plan, you ll make up the $395 in two months maximum if your interest rate is 1.5% lower. Secondly, you don't even need a formal plan....just send in a payment every two weeks. Even better...just add 8.33% of the principle and interest to every payment and you will have avoided any bank fees and du-licated the value of a biweekly payment plan almost to the penny.

I have more but this is too long already.
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#258 UPDATE EX-employee responds

Do they really have the consumers interest in mind?

AUTHOR: Robert - (U.S.A.)

I am an ex primerican, for this one reason. I am by trade a mortgage broker. I got involved with primerica as it seemed like the perfect match with my business. However, they wanted me to use only their mortgage company in which to conduct my business. Then they tried to feed me the bull of "interest rates dont matter". Anyone who has been in the mortgage biz knows that interest rates matter. I have put clients into biweekly payment programs at their current interest rate, under their current lender, without charging them a cent. That, in my opinion, is better for them than charging more origination fees, processing fees, etc. If they are doing that on the mortgage side, what are they doing on the insurance and mutual funds??

I would love to hear the response on this. Remember primericans, I used to be one of u. I am still in the mortgage biz and have been for the last 15 years. The company DOES NOT have the consumers best interest in mind when conducting business.

The purpose of the financial advisor, as with any financial services provider, is to find the BEST product for your client, at the BEST price, and the BEST terms. Primerica does not do that.
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#259 UPDATE EX-employee responds

Adding to Leroy's response about PFS myths with regard to Shannon.

AUTHOR: Anthony - (U.S.A.)

Shannon,

Please read the other threads. This has been covered multiple times. And try to learn from them.

You don't own your own business:

-PFS Corporate owns your clients and your recruits (Read your IBA)
-PFS Corporate determines that you will market a SMART? Loan for interest rates 1-2% higher
-PFS Corporate determines that you will market expensive term insurance
-PFS Corporate determines that you will sell loaded Mutual Funds
-PFS Corporate determines your product line (which they can change at any time)
-PFS Corporate determines your pay scale
-PFS Corporate determines how you will advance (which they can change at any time)

PFS Corporate IS the business.

You're just an independent contractor with no benefits. But Shannon you do own and take all the risk. Now tell all of us who you assume are in a JOB (and therefore we must be miserable and broke) how your system is so superior?

Regards,
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#260 UPDATE EX-employee responds

Adding to Leroy's response about PFS myths with regard to Shannon.

AUTHOR: Anthony - (U.S.A.)

Shannon,

Please read the other threads. This has been covered multiple times. And try to learn from them.

You don't own your own business:

-PFS Corporate owns your clients and your recruits (Read your IBA)
-PFS Corporate determines that you will market a SMART? Loan for interest rates 1-2% higher
-PFS Corporate determines that you will market expensive term insurance
-PFS Corporate determines that you will sell loaded Mutual Funds
-PFS Corporate determines your product line (which they can change at any time)
-PFS Corporate determines your pay scale
-PFS Corporate determines how you will advance (which they can change at any time)

PFS Corporate IS the business.

You're just an independent contractor with no benefits. But Shannon you do own and take all the risk. Now tell all of us who you assume are in a JOB (and therefore we must be miserable and broke) how your system is so superior?

Regards,
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#261 UPDATE EX-employee responds

Adding to Leroy's response about PFS myths with regard to Shannon.

AUTHOR: Anthony - (U.S.A.)

Shannon,

Please read the other threads. This has been covered multiple times. And try to learn from them.

You don't own your own business:

-PFS Corporate owns your clients and your recruits (Read your IBA)
-PFS Corporate determines that you will market a SMART? Loan for interest rates 1-2% higher
-PFS Corporate determines that you will market expensive term insurance
-PFS Corporate determines that you will sell loaded Mutual Funds
-PFS Corporate determines your product line (which they can change at any time)
-PFS Corporate determines your pay scale
-PFS Corporate determines how you will advance (which they can change at any time)

PFS Corporate IS the business.

You're just an independent contractor with no benefits. But Shannon you do own and take all the risk. Now tell all of us who you assume are in a JOB (and therefore we must be miserable and broke) how your system is so superior?

Regards,
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#262 UPDATE EX-employee responds

Adding to Leroy's response about PFS myths with regard to Shannon.

AUTHOR: Anthony - (U.S.A.)

Shannon,

Please read the other threads. This has been covered multiple times. And try to learn from them.

You don't own your own business:

-PFS Corporate owns your clients and your recruits (Read your IBA)
-PFS Corporate determines that you will market a SMART? Loan for interest rates 1-2% higher
-PFS Corporate determines that you will market expensive term insurance
-PFS Corporate determines that you will sell loaded Mutual Funds
-PFS Corporate determines your product line (which they can change at any time)
-PFS Corporate determines your pay scale
-PFS Corporate determines how you will advance (which they can change at any time)

PFS Corporate IS the business.

You're just an independent contractor with no benefits. But Shannon you do own and take all the risk. Now tell all of us who you assume are in a JOB (and therefore we must be miserable and broke) how your system is so superior?

Regards,
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#263 Consumer Comment

Shannon in Riverside

AUTHOR: Leroy - (U.S.A.)

Shannon repeats some common primerica myths. 1. Every business is a pyramid >>>> No they are not. Most are totems. If Shannon goes to work as a cashier at McDonald's and then gets her cousin Tiffany a job doing the same thing, Shannon does not get a portion of every sale Tiffany rings up. She would if McDonald's were a pyramid....and you the consumer would be paying $4 for that Big Mac instead of $2.50. Primerica has to overcharge for its term insurance and loans in order to support the bloated commission structure necessary for a pyramid. 2. She implies primerica is BACKED by Citigroup. <<<< For owners of primerica policies nothing could be more INCORRECT. Primerica is not BACKED by Citigroup, its merely an owned subsidiary. Primerica could be selling cupcakes instead of life insurance and Citigroups responsibilities would be the same. What this means to you as the consumer is that if primerica finds itself in a position where it can no longer meet its obligations to pay claims CITIGROUP HAS NO LEGAL OBLIGATION WHATSOEVER TO PAY THE CLAIMS. Anything it pays to beneficiaries of life insurance policies under those circumstances would be totally voluntary. and a ethical obligation only. Considering Citigroup just paid $2 BILLION in regulatory fines and class action settlements because of ethical lapses if you trust them...good luck. 3. Shannon says primerica educates consumers <<<
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