• Report: #142382

Complaint Review: Primerica - Citigroup

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  • Submitted: Wed, May 11, 2005
  • Updated: Fri, September 01, 2006

  • Reported By:Marietta Georgia
Primerica - Citigroup
683 Henderson Drive Cartersville, Georgia U.S.A.

Primerica - Citigroup ripoff, takes money, offers a future but lies. Cartersville Georgia
*UPDATE: Primerica recognized by Rip-off Report a business opportunity well worth considering - it's not for everyone but many representatives make solid commission incomes. Primerica takes appropriate action against representatives conducting themselves improperly, pledges 100% commitment to customer service.

*Consumer Comment: Day in Brooklyn

*Consumer Comment: Victor in NY repeats propaganda

*UPDATE EX-employee responds: Rebutting Crimerican whipping boy/girl Day further

*UPDATE Employee: Stuart from Crimerican Day (Brooklyn)

*UPDATE EX-employee responds: Rebutting Crimerican boy Victor (College Point)

*UPDATE Employee: I have read most of the claims and i don't see the issue.

*UPDATE EX-employee responds: Crimerican shiller Day (Brooklyn) is busted.

*UPDATE Employee: Primerica, brief operation procedures 101

*Consumer Comment: Burt in Canada

*Consumer Comment: Burt- you are both right and wrong

*UPDATE Employee: Respond to Leroy

*Consumer Comment: responding to Chris

*Consumer Comment: Underhandedness is not from the company? HA! HA! HA!

*UPDATE Employee: Underhandedness is from the person, not the company.

*UPDATE EX-employee responds: In agreement to the post above

*UPDATE EX-employee responds: In agreement to the post above

*UPDATE EX-employee responds: In agreement to the post above

*UPDATE EX-employee responds: In agreement to the post above

*UPDATE EX-employee responds: Rebuttal to Lynyrd (Seattle) not enough people attending to go trolling over here and do some shilling for Primerica

*UPDATE Employee: There is NO scam...

*UPDATE EX-employee responds: Yes it is a scam

*Consumer Comment: I got a call from the very same office you're reporting against, about the same time you filed this report, and they found me on careerbuilder!

*Consumer Suggestion: Go back again. This time kick his ass. And, keep hitting him until he reaches for his wallet and gives your money back.

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Well Lets see... They got my info. from careerbuilder.com and asked me to come in. I was up to it since I have been doing small jobs and really need income. Well I say the glamor and was like a fly to a light bulb. I came in for the 2nd time, and they told me to sign up to earn money.

Too bad to earn the money you have to do the same things to other people. But never the less I signed up. I paid the $199 to get started. Well next thing you know I relize while driving home it is a sceam. But they left the office and so I told my self I will call tomarrow.

Well I called and we talked. Next thing out of his mouth is, "I thought you was a winner." In a way I am because I relized it before too long. So I asked about the money I paid. He told me he already sent it. Well, I asked to get the $150 back, since I had 120 days to change my mind. They keep the $40 for a processing fee.

I understain the fee and all... but all I got from him was the sound of him hanging up. I am currently trying to find a way to get the $150 back, since it is in the contract. But the bad news is they keeped the contracted. So right now I am out of $199 for my mistake and stupidty. Do not trust them, and ask for a copy of everything.

D
Marietta, Georgia
U.S.A.

This report was posted on Ripoff Report on 05/11/2005 03:38 PM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica-Citigroup/Cartersville-Georgia-30120/Primerica-Citigroup-ripoff-takes-money-offers-a-future-but-lies-Cartersville-Georgia-142382. 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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#1 Consumer Comment

Day in Brooklyn

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

Day boldly states that if primerica rips someone off on a loan then its the consumer's fault for not shopping around.

Thank You very much!

p.s- If you're paying $90 a month for your primerica term and you're 40 years old I certainly hope that you and your husband are both covered for $750,000 each if its 20 year term or you're overpaying. If so its your fault for not researching more. I know the most a 40 year old couple paying $90 a month can get at primerica is under $500,000.
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#2 Consumer Comment

Victor in NY repeats propaganda

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

Victor in NY had a lot of good points about being a business owner and all however, he accepted two pieces of primerica propaganda and without ever questioning them he parrotts them here.

#1. Primerica adds value to their term and thats why its not the cheapest.
<<<
I really want to know exactly how primerica adds value. Its not the conversion option. A conversion option gives the client flexibility in futrure years should they decide they want or need permanent insurance. Its not the Terminal Illness Rider because lots of companys include that in their policy and most pay 50% instead of the 25% primerica does.

Its certainly not their rates. A 38 year old single woman with $25 a month to budget for term life can only get a $198,000 policy with primerica but she can get $397,000 from an A++ rated company instead. What possible value does primerica have that would make up a $200,000 difference tro her family if she died.

#2. You say primerica licensing and training are recommended by the government??????? PUH-LEEZE!!!
The government (State Departments of Insurance) sets licensing standards for companies to meet. They recommend NOBODY!!!!!
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#3 UPDATE EX-employee responds

Rebutting Crimerican whipping boy/girl Day further

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

Really burning the midnight oil Day at 4:13:50 AM.

Point by point:

"Oh, my bad you hate on people making a decent living..." Decent living and Crimerica are an oxymoron you moron.

"I am not here to show my credentials..." That's because you have none to show, liar and deceiver.

"I, as a licensed individual will refrain for BSing clients, but I know people who will to make money. But, just because there are people who would do so in ___________ this doesn't mean the company's rip-off." Just check the postings here on Ripoff Report. More than enough to meet statistical requirements for a sufficient sampling to prove that Crimerica is a ripoff, scumbag pyramid-schemed company.

"It is difficult to recruit in Primerica?at least it has been for me." You must have worn out your shoes hawking the trash at shopping malls and street corners.

To show you how deceitful and inconsistent Day is,
just check the following statements:

"I should be studying for my NY state life prelicensing exam..." This indicates that Day doesn't have a life license yet and shouldn't be
selling life insurance in NY. Read on.

"Three months I have in the company..." How can you be in the company without a license? Read on.

"I only have one person recruited..." From Day's
first report. Doesn't have a license for life, yet is already recruiting.

Since Day is lying about his/her involvement with Crimerica, why should we believe anything else from this shiller?

Burn this into your brain dummy:

"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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#4 UPDATE Employee

Stuart from Crimerican Day (Brooklyn)

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

Stuart, my heart goes to you ha ha ha ha! What a hater. You must really find Primerica, its Reps, and the services we provide threatening to whatever it is that you do. Oh, my bad you hate on people making a decent living you fail to make with a legitimate company and write stupidity all over the place.

"Under any circumstances anyone from Primerica should be contacting anybody looking for a 9-5, salary requirements about a commission position." Salary? Commission? The salary job applicants aren't looking for a commissioned position (a Crimerican such as Day would get the two mixed up).

No my dear I did not get it mixed up you did. Read it over and put your brain to use?SEE what seating in a job that doesn't help you think for yourself does.

I am not here to show my credentials to someone who is insulting and disrespectful just because something did not work for him. You believed I was sent here to spy and you expect me to post my credentials to feed your ignorance?Sit and wait!

Whether Primerica ?teaches you is about second-rate selling, nothing about finances? is for each individual to consider. Whether you walk into a bank, a construction company, a financial institution or many other places offering services?SALES PEOPLE ARE SELLING FOR THEMSELVES?It's your job to do the math. People get licenses for different reasons. I, as a licensed individual will refrain for BSing clients, but I know people who will to make money. But, just because there are people who would do so in Primerica this doesn't mean the company's rip-off. Anyone purchasing insurances, investments securities should shop around.
Primerica concentrate in term insurance. As a licensed individual it should be my job to find as much information I can about my client to see if this insurance is the best one for them. If is not I can't offer my services.

It is difficult to recruit in Primerica?at least it has been for me. I have other priorities in my life right now that wouldn't make me a good trainer; therefore I rather not have the responsibility of having to train right now.
"Primerica teaches things like Suze Orman does about finances and tells yo uhow to use that knowledge to get pay to teach others." Crimericans
like to reference Suze Orman on here. Crimerica
doesn't pay Crimericans to teach, just to sell.
I do not know about you but you can't sell what you do not know about?So YES! We have to be educated on the services we provide first.
I read one lawsuit that was brought upon Primerica by SEC and what does it have to do with people who got licensed to do a business and use it to abuse and rip-off people. But that can happen in any place of business in any industry. People tend to abuse the power they are giving and that does not have to do with the company they represent but with their own values and morality. It is not any business' fault that some individuals have no regards for ethics and professionalism.

(1) Recruitment - duping people to come on down for a salaried position when all they have are commissioned positions.
Three months I have in the company and my previous experience with Primerica I have never been told to recruit out of newspapers, websites or approach anyone who I know is looking for a 9-5 salaried position.

(2) Ripping off unlicensed recruits by selling to
their warm markets (friends and family/relatives)
so that the uplines get the commission leaving nothing for the recruit.
I totally agree with you in this point that is why I keep ignoring my trainer about coming to meet my family and friends and I just got my life insurance so now I can work my own friends and family and make sure they get the best.

(3) Selling an overpriced, piece of garbage term policy which is useless for retirement purposes.
I got over a good policy I think?If anything was to happen to my husband or me the survivor and the kids will be ok financially. I pay less than $90/ monthly for that. We are also non smokers. We do not drink and we have no medical problems.

(4) Ripping customers off on borrowing whereby the
loans run from 1 and 1/2 to 2 percent higher than
competition costing the borrower $100,000 extra
over the life of the typical loan.
On these matter I blame the client?Let me explained. I am a Primerica Rep in the process of buying a home, even though I can get my mortgage through Primerica and pay myself on it, Primerica does not guarantee me the best rates and that is what I need. So Customers should do their homework because not everyone is an honest individual.
A friend of mind almost lost her house because she let Primerica brain washed her about taking a double payment a month mortgage just to finish paying the house sooner. Some things are just common sense that was just plain STUPID! And I told her that.

"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."
Stuart, by all means if you felt rip off is good for you to want justice, but discrediting everything behind this company is not the way I think?There are obviously some uplines individuals running these business whichever way they feel like and by all means I think you should go after that particular office or individual whir o you off, but you do not know me so why insult me and what I as an individual represent. Primerica does not make me or break me. Remember there are those who let the money make them and those who make money.
Take care Stuart,
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#5 UPDATE EX-employee responds

Rebutting Crimerican boy Victor (College Point)

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

Pont by point:

"Before you place your 199 you are told you will recieve it back after you complete your training. If we went around giving the opportunity for free most people would sign up. we'd shell out the 600 bucks, and never see that person again." Going out on six appointments on your warm market doesn't qualify for training. Crimerica doesn't do any training to get your license as you have to go outside to do that or Crimerica will bring in someone who's not part of Crimerica to do the training (btw how do you go from $199 to $600?).

"we already established pyramids are illegal and most people dont even know what they are." Crimerica admits by their metamorphosis website that they are "pyramid-like." There's no question that it is a pyramid-schemed company.

"Also we DO train on the services, how will you learn about the products if you dont come into trainings or go out for trainings." The ONLY training Crimerica does is to give a second-rate
live course on selling using your warm market.

"This is a business not a handout. Ive been in the business less then a year and i am almost a vice president because of my hard effort put forth. Doesnt mean everyone else will have the same growth i do or may happen even faster." No agent nor RVP (regional vice president who isn't an officer btw) has a business at Crimerica because Crimerica owns your clients and downline (check the IBA contract).

"Now about the companies being a scam... this is the funniest alligation i hear. I mean even the government recommends ____________ for financial services for the comprehensive plans and education you will get." Outright lie shiller. Prove it in
writing that the government recommends Crimerica
(a government website will do).

"About the price of our term? Fine we can give you the cheapest term out there and cut out all the value behind our term. FOR INSTANCE! During 911 primerica was the first company to pay death claims for the terrorist act because we are the only ones that cover acts of terrorism and war, all other companies wanted to back out till the government made everyone pay." I haven't researched this but I believe there's more to this
story. It's definite that Crimerica sells a very expensive term insurance (as Crimerica admits by their website).

"i believe the main reason people dont succeed in primerica is because they are not willing to work for it." This shiller's way of saying that the quitters are lazy. What he's left out that over
100,000 people quit Crimerica each year leaving behind their warm markets for the fat cats to devour as Crimerica is a pyramid-schemed company.

"out of all the people who go to YALE do you think ALL of them graduate? NO! but that doesnt make the school a bad school. is it a scam that you paid for 2 years and quit and didnt get the degree? no because you didnt work for it." The scam is that Crimerica lies and deceives about what you should expect from Crimerica.

"You do not earn money by signing up other people, in fact you do not make a dime for recruiting." Another shiller lie as most of the money is made through your downline as it is a pyramid-schemed company.

"disclaimer: the words expressed above do not necessarily represnt the views of the company but only that of the writer." Another lie as Crimerica
promotes lying and deception throughout the company.

Burn this into your brain whipping boy:

"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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#6 UPDATE Employee

I have read most of the claims and i don't see the issue.

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

Before you place your 199 you are told you will recieve it back after you complete your training. If we went around giving the opportunity for free most people would sign up. we'd shell out the 600 bucks, and never see that person again.

All i ever ask the people who work with me is give me 90 days and if you dont see the value of the business then walk away with your license and the 199 back.

plus in NY that 199 also includes a morgage license. I mean where is the scam?

we already established pyramids are illegal and most people dont even know what they are.

Also we DO train on the services, how will you learn about the products if you dont come into trainings or go out for trainings.

how do people learn how to swim? walking around reading about it or going to the pool and paddling?

To the comment about the "freedom" what do you expect? you want to open up a busines and become successful the next day? the freedom is earn through a small sacrafice in the begining. a sacrafice of time and effort for a short period of time (2-5yrs) to be able to live the rest of your life how you choose. JUST LIKE ANY BUSINESS

This is a business not a handout. Ive been in the business less then a year and i am almost a vice president because of my hard effort put forth. Doesnt mean everyone else will have the same growth i do or may happen even faster.

Now about the companies being a scam... this is the funniest alligation i hear. I mean even the government recommends Primerica for financial services for the comprehensive plans and education you will get.

About the price of our term? Fine we can give you the cheapest term out there and cut out all the value behind our term. FOR INSTANCE! During 911 primerica was the first company to pay death claims for the terrorist act because we are the only ones that cover acts of terrorism and war, all other companies wanted to back out till the government made everyone pay.

Our price has value while other people strip the value of theres for people looking for price over value. I explain what the client is getting and why they pay what they do.

back to the issue of the 199, first the way they got your information was not the normal way of doing so but either way you went in TWICE before paying it. And then on the way home you decided no? To get your money back you can mail the company directly.

Now i dont see how it lied to you? the company i mean, according to your title. They OFFERED you a future you didnt take it.

i believe the main reason people dont succeed in primerica is because they are not willing to work for it. Primerica doesnt guarantee success you do, they offer you a chance that no corporate company gives you. The chance to get paid what ever the effort you put forth. (on commission) and before i read on about commission protests, what do you think owning your own business does for you? you think you generate a salary?

If your leadership is bad you just move up the chain of ladder or you are even given the option to move to another office so leadership should never be the reason. People (just like any other thing in life) jjust quit to soon.

out of all the people who go to YALE do you think ALL of them graduate? NO! but that doesnt make the school a bad school. is it a scam that you paid for 2 years and quit and didnt get the degree? no because you didnt work for it.

Alot of people come on here mad at the company because the individual decided to quit and because they quit too soon they didnt earn there money back which makes it there own mistake and they dont want to assume the blame.

You do not earn money by signing up other people, in fact you do not make a dime for recruiting. But to build a long term income stream you have to develop independent individuals. You dont have to recruit if you are only looking for extra part time income. But if you intend to make it a business then you will need partners or employees or what ever you want to consider the associates.

Mariett i am sorry you ran into this bad experience but dont spoil it for the ones who ARE winners and do have potential. Just admit you rather work for a salary then for yourself. But realize that why you will be working for a salary for at least 30 years, building a business for yourself will allow you to work for 5 years and live for the rest of your life on that little time invested.

i am done for now but if anyone here would like to have an education and none bashing conversation let me know. also if you have any question to training and what not i am always available to help, even if i dont profit from this.

Inclosing, primerica is for individuals who are looking for something bigger and better then any company can offer them. Security for the rest of there lives if they decide to work for it. We are not charity, we are an opportunity to take your destiny into your own hands.

disclaimer: the words expressed above do not necessarily represnt the views of the company but only that of the writer.
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#7 UPDATE EX-employee responds

Crimerican shiller Day (Brooklyn) is busted.

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

Apparently Crimerica is planting shillers on here now that claim they have nothing to do with the company because their admitted agents have no credibility at all. I'll dismantle whipping boy Day piece by piece.

"Wow! I bumped into this website by mistake..." a standard line used by Crimerican trollers.

"Under any circumtances anyone from Primerica should be contacting anybody looking for a 9-5, salary requiremnets about a commission positon." Salary? Commission? The salary job applicants aren't looking for a commissioned position (a Crimerican such as Day would get the two mixed up).

"You will be surprised to know how few people really know. I have a BS in Business Administration with a concentration in finance and I stand 100% behind everything Primerica promotes as far as becoming educated and learning about your finances." Well at least Day got the bs part
right. The only thing Crimerica teaches you is about second-rate selling, nothing about finances
(if you do have the degree shiller, then post it on Ripoff Report).

"I only have one person recruited..." sounds Crimerican to me.

"Primerica teaches things like Suze Orman does about finances and tells yo uhow to use that knowledge to get pay to teach others." Crimericans
like to reference Suze Orman on here. Crimerica
doesn't pay Crimericans to teach, just to sell.

"Do not hate because people go get licenses to get pay to show you how to invest your money." Crimerica is hated due to all the ripping off done
by this company. The main areas are:

(1) Recruitment - duping people to come on down for a salaried position when all they have are commissioned positions.

(2) Ripping off unlicensed recruits by selling to
their warm markets (friends and family/relatives)
so that the uplines get the commission leaving nothing for the recruit.

(3) Selling an overpriced, piece of garbage term policy which is useless for retirement purposes.

(4) Ripping customers off on borrowing whereby the
loans run from 1 and 1/2 to 2 percent higher than
competition costing the borrower $100,000 extra
over the life of the typical loan.

I can go on with dozens of examples, but you'll see for yourself when you read the reports.

Oh whipping boy Day. I have a message for you to take back to your fat catmasters over at pyramid-schemed Crimerica. Burn 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."
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#8 UPDATE Employee

Primerica, brief operation procedures 101

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

Wow! I bumped into this website by mistake and boy was I surprise of my findings. I should be studying for my NY state life prelicensing exam I have in a few hours, but instead got caught up reading these claims. I have read so much information here and I would like to take the time to address my views on what I have read so far.

Seems like what initiated these claims was the way many of the individuals who shared their experiences on this site were contacted. I agree with anyone who was contacted out of job search website. Under any circumtances anyone from Primerica should be contacting anybody looking for a 9-5, salary requiremnets about a commission positon. Neither should they guide these individuals through a series of meetings and appointments without letting them know what is behind all of it.

The last I remember, Primerica is a company that takes pride teaching uneducated consumers how their money works. You will be surprised to know how few people really know. I have a BS in Business Administration with a concentration in finance and I stand 100% behind everything Primerica promotes as far as becoming educated and learning about your finances.

Recruitment is very demanding, but like many of you have read here it is not necessary, I only have one person recruited and I do not care to do anymore unless I'm approach about it. Why? Because just like going to college, and doing any other position in the real world, somethings are not for everybody. This is why once a person shows interest in the company is good for them to go to the meeting and watch before they sign any papers, and ofcourse before they pay any monies.

I have not been to a meeting yet, and whether it is carried on as a "cult" or not I could not tell. All I want is to use my current degree together with my license and educate friends, family, and anyone who would cares to listen what you need to do about your money to see a brighter financial future for you and your love ones.

If I knew at 18, what I know today I'm 30 years old, putting all the work I have done since I was 18 years old I could have been a millionaire! and that's the truth. Primerica teaches things like Suze Orman does about finances and tells yo uhow to use that knowledge to get pay to teach others. Do not hate because people go get licenses to get pay to show you how to invest your money. If I got to Fidelity or any other comapny to manage a fiancial potfolio for me they will charge me a lot of money and not only that but they usually require large investmnets.

Primerica gives working class the opportunity to start investing for as low as $25 a month and increase and move along s you can. Try that on Meryl Lynch or any other investmnet firms and see what you can get.

The recruitment method use was run, but do not label the comapny as a ripoff if all areas of the business are not fully understood. Thanks

Day---Brooklyn, NY
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#9 Consumer Comment

Burt in Canada

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

Yeah I've read a few whole life policies in my time. What was your NET loan rate? I know you said the loan rate was 9.5% but I wanted to know the NET loan rate.

I am not at all familiar with London Life. I do know I just did a $40,000 policy loan for a client of mine and his NET loan rate was 4/100ths of 1%. On my own variable life policy my NET loan rate is contractually guaranteed to be ZERO PERCENT.

None of this means your whole life policy was good or your new "buy term invest the difference"
approach is bad. It depends entirely on your own individual set of circumstances. Whole life gets inappropriately sold and by the same token it is many times inappropriately replaced by poorly trained primerica agents.

FYI.......when 30 year term products were first introduced primerica called them "just anther insurance company ripoff. NO ONE needs term insurance for 30 years". Then as they realized most mortgages are for 30 years they changed their tune and introduced one of their own. When rhetoric/ideology clashed with profits it was no contest. Profit won.
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#10 Consumer Comment

Burt- you are both right and wrong

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

Term life is intended to provide financial benefits for your dependants if "something bad" ever happens to you WHILE YOUR POLICY IS IN EFFECT.

VERY FEW term policies are EVER collected on- very few, as in "approaching zero".

You want to understand that the actuarial (life expectancy) tables used by the insurance companies are always WAAAYYYY out of date, and therefore they are VERY "conservative".

This does not say that term life is "bad". Many of us never collect on our homeowner's insurance, either, but if your house were suddenly toast could you afford to replace your house from your own pocket? Some of us can, but we STILL have homeowner's insurance.

I have a cash life policy from the company that I retired from, and it offers some benefits that never go away. However, your method of buying term at a reduced premium over "cash-value" life insurance, and saving that difference in a bank account, is also valid. [I use a local "money-market" bank account that gives 4.7% interest for our free cash.]

I believe the primary points being made here is that Primerica's insurance is simply overpriced.

And many people WILL NOT save that premium difference in a bank account, but rather they will spend it on an HDTV or whatever.
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#11 UPDATE Employee

Respond to Leroy

AUTHOR: Burt - (Canada)

Hahahaha Leroy
Well now we all know why ur not a loan officer....
2nd Have you ever read a Whole life policy ,if you have u need to read it again .

I owned a Whole life policy and was paying 225 per month now, i have a 35 year term i pay $30 per month and am curently ivesting the 195 per month with a rrsp loan .
I asked my LONDON LIFE agent if I could get my 8000 out and he told me i would have to borrow it at 9.5 %

ps Leroy do more research
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#12 Consumer Comment

responding to Chris

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

Chris says primerica is not about recruiting but its about selling product.

PUH-LEEZE!!!!! Its ALL ABOUT THE DOWNLINE!!!!!!!
If it were about commission then the salespeople there would look at what the industry actually pays in commissions as opposed to what primerica says they pay.

For example;
a.) term insurance. A beginning part-timer can get 80-100% commission right from his very first policy sold instead of the 25% at primerica. True, the premiums are lower with other companies the commission per policy still comes out far ahead of what primerica pays and there is no giveaway of your warm market like is required at primerica. THE ONLY REASON a representative would accept being exploited by a 25% commission
is if he has a belief better things might happen later...i.e. growing a downline will mean more money in the long run.

b.) mutual funds- a beginner can start elsewhere
for no less than 50% of the Gross Dealer Concession instead of 25% at primerica. Most start at 60% and go up to 75% in a hurry. The Gross Dealer Concession is the commission paid to the broker-dealer (Schwab or Merrill-Lynch or primerica). On a typical mutual fund its around 4% of the amount invested so someone on a 25-75% commission split gets 1% of the investment while someone on a 75-25% split gets 3%. THE ONLY REASON a representative would accept being exploited by such a low commission rate is a belief that more money can be made growing a downline instead.

c.) loans- I'm not a loan officer but I have friends who are. They make $3,000-4,000 per loan
(loans are bigger in California) and the broker is getting another $1,000-2,000. As I understand primerica reps get $1,350 maximum. The ONLY REASON etc.......

d.) prepaid legal- the primerica reps get $50 per contract according to Chris. You got us there ol' boy!!!!!! My broker dealer forbids us to sell these because they are viewed as scams with heavy complaint ratios. So Chris...you go out there and you can sell 50-60 of these a month at $50 a pop to sustain yourself while you are waiting for your licensing to come in.

Finally, if primerica trains on other products why is their canned salespitch so misleading? Why do they teach patently false things like the owner of a whole life policy has to borrow his own money?

What primerica trains on is the sales pitch and the product knowledge necessary to execute the sales pitch. No other product knowledge is necessary.
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#13 Consumer Comment

Underhandedness is not from the company? HA! HA! HA!

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

"Underhandedness is from the person, not the company."

The genius who came up with this must have worked in Uncle Adolph's Ministry of Truth for Gobbels.

If the company does NOTHING to stop the "Underhandedness" then the "Underhandedness" IS from the company. Once is enough.

This guy must have read Animal Farm too many times and not understood that it was satire. Well, I guess that "not understood" part is understandable.

Where I retired from, if someone slipped a toe over the legal or ethical line just once, they were gone. Fortunately, this situation very seldom happened because new hires were very well screened.
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#14 UPDATE Employee

Underhandedness is from the person, not the company.

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

Saying that all Primerica does is teach you to recruit people is not true. If someone says that, it tells me that they weren't in the business for more than a week or two. They tend to train by topic on Saturdays, sometimes covering two or three, so yes they may have spent one entire session on teaching recruiting techniques. However they do teach the workings of insurance, morgages, prepaid legal services, and investments so that their employees can do business.

NO ONE GETS PAID TO RECRUIT! Not one penny gets paid out to anyone for the $199 fee. I know, I've looked into it extensively and the fee pays $40 for a background check (not processing fees) and the other $159 pays for your learning material to take the insurance exam (which by the way Primerica pays for and other insurance companies leave that $200-400 for you to pay). Not only that, but you get reimbursed for your $199 by doing training appointments with your family and friends. I know that sounds like stemming recruits from people you know, but my trainer and I didn't recuit 1 person out of the 6 appointments we did; we conducted business selling insurance and offering mutual fund investments.

YOU CAN MAKE MONEY BEFORE GETTING LIFE LICENCED. Selling a pre-paid legal service contract pays the salesperson $50 a contract. Doesn't sound like much but selling a few before getting licenced helps keep cash flowing. But getting life, mortage, and securities licenced is how you get paid, not by tricking people to pay $199 to "have a shot."

Not only does any of the scam talk make little sense from a corporate standpoint (what major company can make money "stealing" $199 off of less than %1 of Americans?), someone sounding unprofessional can simply mean they were new to the buisness. Yes the initial complaint was legit, no one should be jerked around like that. She didn't sound like a Primerica employee to me anyways, her way of going about it was unlike anyone I've worked with so maybe she was a lone scammer or just a bad employee.

As for Citigroup dropping Primerica, I have no idea where that info came from but it is not true in any sense. Primerica is the marketing arm of all the other members of Citigroup, we sell select products from Citimorgage, Citibank, Traveler's, Smith Barney, etc. A large part of overall business stems from Primerica submissions. We like to say we are the Wal-mart of the financial system, one stop shopping.
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#15 UPDATE EX-employee responds

In agreement to the post above

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

I agree with the person that has all of the quotes from the other. I too have seen and heard enough from these people to infuriate me and my wife.

The nerve of people to tell others, You will have more freedom AND money, then tell them they have to attend Saturday training, taking up all morning away from your family. When you could have spent the day on a picnic or whatever.

The reality of Primerica is that they do not advertise through the normal media channels because they are a scam. They intentionally remain low key as to not bring on too much publicity. This is why they have you aproach your family and friends first, then have you give them the 6 contacts so that they can make money off of you.

We were told that they could have us making money in about two weeks. An absolute lie, you still have to have a license before you can sell any of the junk they offer. I had one of their senior peol tell me to my face, of course the insurance is high, how do you expect to make any money? ..... What a bunch of cr@#. I couldn't believe this guy actually told me this in front of several people at one the meetings. THat's wehn we got the HE## out of the place.

When you take a long hard look at a company like this, it makes you appreciate that J O B that you do have. At least your not ripping off your friends and family with Extremly high Insurance premiums and telling them you are going to be a Millionaire in a couple of years.

Thanks for letting me ramble, I just had to continue where the other person left off.
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#16 UPDATE EX-employee responds

In agreement to the post above

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

I agree with the person that has all of the quotes from the other. I too have seen and heard enough from these people to infuriate me and my wife.

The nerve of people to tell others, You will have more freedom AND money, then tell them they have to attend Saturday training, taking up all morning away from your family. When you could have spent the day on a picnic or whatever.

The reality of Primerica is that they do not advertise through the normal media channels because they are a scam. They intentionally remain low key as to not bring on too much publicity. This is why they have you aproach your family and friends first, then have you give them the 6 contacts so that they can make money off of you.

We were told that they could have us making money in about two weeks. An absolute lie, you still have to have a license before you can sell any of the junk they offer. I had one of their senior peol tell me to my face, of course the insurance is high, how do you expect to make any money? ..... What a bunch of cr@#. I couldn't believe this guy actually told me this in front of several people at one the meetings. THat's wehn we got the HE## out of the place.

When you take a long hard look at a company like this, it makes you appreciate that J O B that you do have. At least your not ripping off your friends and family with Extremly high Insurance premiums and telling them you are going to be a Millionaire in a couple of years.

Thanks for letting me ramble, I just had to continue where the other person left off.
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#17 UPDATE EX-employee responds

In agreement to the post above

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

I agree with the person that has all of the quotes from the other. I too have seen and heard enough from these people to infuriate me and my wife.

The nerve of people to tell others, You will have more freedom AND money, then tell them they have to attend Saturday training, taking up all morning away from your family. When you could have spent the day on a picnic or whatever.

The reality of Primerica is that they do not advertise through the normal media channels because they are a scam. They intentionally remain low key as to not bring on too much publicity. This is why they have you aproach your family and friends first, then have you give them the 6 contacts so that they can make money off of you.

We were told that they could have us making money in about two weeks. An absolute lie, you still have to have a license before you can sell any of the junk they offer. I had one of their senior peol tell me to my face, of course the insurance is high, how do you expect to make any money? ..... What a bunch of cr@#. I couldn't believe this guy actually told me this in front of several people at one the meetings. THat's wehn we got the HE## out of the place.

When you take a long hard look at a company like this, it makes you appreciate that J O B that you do have. At least your not ripping off your friends and family with Extremly high Insurance premiums and telling them you are going to be a Millionaire in a couple of years.

Thanks for letting me ramble, I just had to continue where the other person left off.
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#18 UPDATE EX-employee responds

In agreement to the post above

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

I agree with the person that has all of the quotes from the other. I too have seen and heard enough from these people to infuriate me and my wife.

The nerve of people to tell others, You will have more freedom AND money, then tell them they have to attend Saturday training, taking up all morning away from your family. When you could have spent the day on a picnic or whatever.

The reality of Primerica is that they do not advertise through the normal media channels because they are a scam. They intentionally remain low key as to not bring on too much publicity. This is why they have you aproach your family and friends first, then have you give them the 6 contacts so that they can make money off of you.

We were told that they could have us making money in about two weeks. An absolute lie, you still have to have a license before you can sell any of the junk they offer. I had one of their senior peol tell me to my face, of course the insurance is high, how do you expect to make any money? ..... What a bunch of cr@#. I couldn't believe this guy actually told me this in front of several people at one the meetings. THat's wehn we got the HE## out of the place.

When you take a long hard look at a company like this, it makes you appreciate that J O B that you do have. At least your not ripping off your friends and family with Extremly high Insurance premiums and telling them you are going to be a Millionaire in a couple of years.

Thanks for letting me ramble, I just had to continue where the other person left off.
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#19 UPDATE EX-employee responds

Rebuttal to Lynyrd (Seattle) not enough people attending to go trolling over here and do some shilling for Primerica

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

Lynyrd,

Do you find those Primerica meetings boring or just not enough people attending to go trolling over here and do some shilling for Primerica?

You must have missed the mission of Ripoff Report
when you trolled over here. I'll be happy to repeat it for you:

"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."

So what are you doing for the victims of Primerica besides running your mouth off with your allcaps rhetoric?

Now I'll quote sections of your post:

"THE TRUTH is that people do not succeed in Primerica because:

1) THEY WEREN'T PROPERLY TRAINED.
2) THEY DIDN'T WORK!"

"They weren't properly trained." Nobody gets
properly trained from Primerica on how to service
the public with insurance let alone the other
investments the agents push. The only thing
Primerica teaches you is to how to recruit to build your downline. As far as "they didn't work"
goes, that's a copout excuse by Primerican mismanagement to point the finger away from their own failings in a system designed to benefit the fat cats at the top of the pyramid.

Another quote:

"Primerica has possibly the best training programs that is out there for self-improvement and developing new skills that would make you more money." In your opinion. About the only skill they give you is on how to recruit to build your downline.

Yet another quote:

"PYRAMIDS ARE ILLEGAL!" Primerica is a thinly-veiled pyramid scheme (the only thing that
makes it legal is that sale of a product is taking place). Even Primerica admits it is "pyramid-like" (check their website if you don't believe me).

Here's another quote:

"ITS IS PURE IGNORANCE AND BECAUSE OF THEIR IGNORANCE, THEY DESERVE THE LIFE THAT THEY HAVE AND CONTINUE TO HAVE." I wonder what kind of a life you have outside of Primerica Lynyrd?

Still another quote:

"I do not understand how people can come to this site and ruin the reputation of a great company like Primerica, when they did not even get involved in the business whatsoever. They just turned in their IBA and that is it. They didn't go on any field training. They didn't show up to any Saturday training." (what kind of unpaid training on Saturday besides on how to recruit?).

I readily understand why people are coming over to Ripoff Report to tell us about the so-called "great" company Primerica. They're not ruining Primerica's reputation because they didn't have much of a reputation to begin with. Face it Lynyrd, Primerica isn't an upfront company very much preferring to cloak itself in darkness.

One more thing Lynyrd. Citgroup announced in
January that it's dumping Primerica like a sack of potatos with the transaction scheduled to be
finalized this summer. I wonder what you have to say to that shill?
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#20 UPDATE Employee

There is NO scam...

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

Primerica is NOT A CULT or PYRAMID.

Why don't you ask yourself "What is a pyramid?", and you would find yourself having a hard time. Why? Most of you vaguely know what it really is.

PYRAMIDS ARE ILLEGAL!

I pose one question for you, if Primerica is a pyramid and we know that pyramids are ILLEGAL, why would Citigroup, the largest financial services company in the world, allow Primerica representatives to market and distribute their services? They would not do business with a company that would have a reputation that people on here claim.

So, for the past 28 years that Primerica has been educating families whom would not have had any education on insurance, mortgage, and investments, changing their lives...

"ITS A SCAM! ALERT THE GOVERNMENT! TELL CITIGROUP! TELL THEIR REPRESENTATIVES, THEY MIGHT NOT KNOW IT IS A SCAM!"

THE TRUTH is that people do not succeed in Primerica because:

1) THEY WEREN'T PROPERLY TRAINED.
2) THEY DIDN'T WORK!

Primerica has possibly the best training programs that is out there for self-improvement and developing new skills that would make you more money.

I do not understand how people can come to this site and ruin the reputation of a great company like Primerica, when they did not even get involved in the business whatsoever. They just turned in their IBA and that is it. They didn't go on any field training. They didn't show up to any Saturday training.

ITS IS PURE IGNORANCE AND BECAUSE OF THEIR IGNORANCE, THEY DESERVE THE LIFE THAT THEY HAVE AND CONTINUE TO HAVE.

Primerica is one of the most successful companies in American history. You do not understand Primerica like I understand Primerica. Primerica is not a "thing", its "A HUGE THING!"

The company is great, the people, may not be. That is up to each and every individual. That is the only flaw, HUMANS AND THEIR BELIEFS.
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#21 UPDATE EX-employee responds

Yes it is a scam

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

I went with a friend to a meeting. We had just found out our Company was closing and I was looking for somthing new. Well I did not find what I was looking for. I went to two meetings,paid the money, completed the classes and took the test for my liscense. I was desperate for a new carreer. UNTIL I found out I was going to be a bonified telemarketer. Yes, They get around the dont call list when you give them six names. They let that person know that YOU gave them the number or better yet you are the one harassing your family and friends. The meetings are very big talk little answers. Yes Mcdonalds and other companies have hired and they make money by what you do for them. BUT guess what they dont promise that you are a financial savior. They also encourage people to tell there families who are nay sayers to hush. WHY?? Because those family memebers are jealous according to primerica. WHAT??? I was so desperate for employment I fell for this. Why is it that Mcdonalds doesnt sue for slander?? They use there name in every meetings and accuse them of a pyramid scheme. Maybe this will help someone else desperate. DONT be as deserate as I was.
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#22 Consumer Comment

I got a call from the very same office you're reporting against, about the same time you filed this report, and they found me on careerbuilder!

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

Wow! I knew it!!! I'm a very professional business person currently employed fulltime, but actively looking for something new. I've been screening my phonecalls and emails really well b/c I can't just leave my job to interview with everyone who calls me.

The person from Primerica in Cartersville who called me sounded VERY unprofessional, uneducated, and couldn't answer my questions...actually she even told me I asked more questions than most people (ha!), but asked me to come to Cartersville to see this presentation one night about 6:30pm.

I had already screened her phone number for accuracy and got the address of the place off the internet using her phone number. I told her I did that and would get directions off the internet myself. I went to that location and it was abandoned. I called her "office phone number" about 5 times that night and never got her so I left a message "killing her with kindness" to see if she'd call back. At this point I went home furious with myself for falling for a scam. She called me about 24 hrs later wanting to know where I was the night before...I responded, "Um excuse you! I left you a message after calling you 5 times...where were YOU?" She replies, "Oh yeah I do remember your message now"...umm...wow, that's all I'll say about that, but I'm sure you know what I was thinking...Anyway, she proceeds to tell me that they moved and the internet address wasn't the right one (why didn't she tell me that when I told her I got thier address off the internet) and could I try one more time.

I told her I was uncomfortable with this, I was used to very professional environments and people and I felt that she was not.

I told her I would not try to come to a presentation again unless I had a phone number to contact her at on the offchance I got there and it was another abandoned building (hint hint). She said, "Well I don't have a cell phone, but I have a car phone. I guess I could activate it between now and next week." WHAT? She's got to be kidding me! She said she would call to confirm the day before that I would still be coming. Because this lady was so weird I knew I wouldn't be going and that this was ridiculous, but feeling like it was a scam I wanted to "catch her bigtime" and go as far with it as possible. Well what do you know...she never called to confirm, I never went to the presentation, and this time she didn't call to see where I was!

If you're careful and hint like I did that you're onto them they'll run from you!

They're trying to catch people offguard who desperately need work, and that's just outright disgusting and makes me sick!!

I'm sooo glad I didn't make it to her presentation. Had I gone and they continuted to act unprofessional and actually tried to take my money I probably would have dropped my professionalism and given them a piece of my mind for what they're doing! Wow!
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#23 Consumer Suggestion

Go back again. This time kick his ass. And, keep hitting him until he reaches for his wallet and gives your money back.

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

You know, I'm so sick and tired of seeing innocent people getting cheated out of their money like this.

It's time to take a stand. You know, I actually wish it was me in your place. I'd go back and walk in with a steel bar. Or a pipe. Whatever's around.

I'd ask once for my money. In a calm voice. Heaven help the person that thinks I'm somebody to be fooled with.

Mr primerica would either give my money back, or together, we'd make the six o'clock news. I'll go either way with the fool.

Six months later, at his daily rehabilitation therapy session, the fool would finally realize the error of scamming innocent job seekers out of their money. Plus, it would make a lot of other primerica scammers sit up and take notice.

From what I read here about primerica, they sound more like leeches than actual people. I think you'd be doing society a favor.

If you don't have the guts for that, you can always file in small claims. About $25 to $50 to file. You get that back if you win.

There's a good chance the primerican won't even show up to defend himself. Car busted down. Or, no gas money to get to court.
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