• Report: #211206

Complaint Review: Primerica Life Insurance Company - PFS Investments

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  • Submitted: Fri, September 15, 2006
  • Updated: Sat, October 21, 2006

  • Reported By:Orange California
Primerica Life Insurance Company - PFS Investments
1026 S. San Rafael Ave. Pasadena, California U.S.A.

INVESTIGATION: Primerica offers excellent business opportunities & stands behind its products & services, feel confident & secure when doing business with Primerica, backed by Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Pasadena California
*UPDATE: Primerica offers a good business opportunity & stands behind its products & services- - Company Executives have told Rip-Off Report that Primerica pledges to resolve complaints & address any inquires from the past, present & in the future.

*Consumer Comment: Confusing Regena

*Consumer Comment: Confusing Regena

*Consumer Comment: Confusing Regena

*Consumer Comment: Confusing Regena

*UPDATE EX-employee responds: Rebutting Regena (Duluth) and Crystal (Opelika)

*UPDATE EX-employee responds: Further rebutting Regena (Duluth)

*UPDATE Employee: Confused

*UPDATE Employee: Home Office response to Stuart

*Consumer Suggestion: A point of clarification on what Regena said (Duluth)

*UPDATE Employee: Response to Stuart

*UPDATE EX-employee responds: Responding to Regena Wood (Home Office)

*UPDATE Employee: Primerica employee responds to false report

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EDitor's Comment: *UPDATE 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.


Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,..A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works. ===================== THE ORIGINAL REPORT THAT WAS FILED IS BELOW ===================== Primerica Life Insurance Company PFS Investments - Ripoff Warning Wolves Are Loose Pasadena California Warning to all. Wolves are on the loose and Primerica is the "Fox watching the Hen House." So, all of you Primerica Rep readers, please tell everyone why your TOP earner Michael L. (CA lic no. 0589867) (CRD no.1016710 is appointed with ING USA ANNUITY AND LIFE INSURANCE COMPANY? I'll tell you why? Because he is a double talking CON ARTIST and WOLF in sheeps clothing. By contract, all Primerica reps are "captive" agents and prohibited from working with any non PFS-affiliated company. Oh Yeah.. is the highest paid SNSD in Primerica and working from his private home in Pasadena. What's wrong with that picture? Some of "top gun" downlines are David in MS, Hector La Marque in CA, Jorge Benitez in CA, Mical Pyeatt in CA, Chris Howard in NV. I'm curious? Are these guys also working with ING USA? No. So much for Primerica being an "Equal Opportunity" employer. See for yourselves at www.insurance.ca.gov and (((ROR redacted link))). Please remember that wolves run in packs, and so its no coincidence that pal from the A.L. Williams days and now executive with World Leadership Group (WMA/WFG), Hubert Humphrey aka Steeley Hubert Humphreyis also appointed with ING USA. Yeah..both and Humphrey were both appointed to ING USA on 01/0/04. Something tells me that the rest of the pack--Richard L. Thawley (CA lic. no. 0827571)(CRD no. 1131657) Mont Holmes (CRD no. 1103018) and former "Compliance" Director for Primerica, Barry Milton Clause (CRD no. 1100092) may be lurking in the bushes somewhere. It's funny, Primerica was featured in "Success from Home" Magazine in the July 2005 issue. Hubert Humphrey & World Leadership Group (aka World Financial Group)were featured in the August 25,2006 issue of the same magazine. Both companies, Primerica and WLG provided bonus DVDs for the readers. HA HA!!! What better way to sell a TON of magazines than to feature two scam companies who have thousands of reps who desperately need to LEGITIMIZE their business opportunities by showing third-party material to potential unsuspecting recruits. Many former Primerica reps with regulatory, criminal, and serious financial problems like judgments, bankruptcies and tax liens now work with World Financial Group (WMA/WLG). I guess that really spells SUCCESS! No, what it spells out is Primerica, World Financial Group, and Humphrey are COLLUDING AND RUNNING A "RACKET." Well...it looks like the Federal Trade Commission (FTC) is onto this scheme and others like it in the "direct selling" industry. Because, the FTC is proposing a new business opportunity rule R511993 to "sweep" the direct selling industry of fraudulent MLMs and pyramid marketing schemes. It seems to me that Mike's millionaire POST-RETIREMENT uplines---Douglas E. Hartman in Anaheim, CA Bobby Buisson in Gainseville, GA William Stewart in Lubbock, TX Michael Tuttle in Addison, TX and Michael Utz in FL better spend LESS time on the golf course and MORE time watching their hierarchies before they start dwindling. Hey..these guys were retired when I was an RVP, are they still alive? Remember...Wolves are GREEDY PREDATORS and they hunt in the dark! Please PFS reps..don't get bent out of shape when you read this post. The truth hurts, but it's liberating. I also know how strong brainwashing (propaganda) can be. Been there. Done that. So I will leave you with this reference from the Bible: Ephesians 5:9-11 "For the fruit of the Spirit is in all goodness, righteousness, and truth, finding out what is acceptable to the Lord." "And have no fellowship with the unfruitful works of darkness, but rather expose them." GF Orange, California
U.S.A. 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.

This report was posted on Ripoff Report on 09/15/2006 01:11 PM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica-Life-Insurance-Company-PFS-Investments/Pasadena-California-91105/INVESTIGATION-Primerica-offers-excellent-business-opportunities-stands-behind-its-produ-211206. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
0Author 12Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Confusing Regena

AUTHOR: Francis John - (U.S.A.)

What you may have missed here is the fact that if a product is approved for sale by Primerica representatives, then representatives may be appointed with the company that manufactures the product. The Basic Agreement defines "Primerica Companies" as "Primerica and other companies authorized by Primerica to enter into agreements with, or to offer products or services through, agents in the Primerica sales force." This is true for all agents, not just Mike.



So any Primerica agent can sell ING products, correct?



Well, what if that Primerica agent contracted directly with ING? Then what?
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#2 Consumer Comment

Confusing Regena

AUTHOR: Francis John - (U.S.A.)

What you may have missed here is the fact that if a product is approved for sale by Primerica representatives, then representatives may be appointed with the company that manufactures the product. The Basic Agreement defines "Primerica Companies" as "Primerica and other companies authorized by Primerica to enter into agreements with, or to offer products or services through, agents in the Primerica sales force." This is true for all agents, not just Mike.



So any Primerica agent can sell ING products, correct?



Well, what if that Primerica agent contracted directly with ING? Then what?
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#3 Consumer Comment

Confusing Regena

AUTHOR: Francis John - (U.S.A.)

What you may have missed here is the fact that if a product is approved for sale by Primerica representatives, then representatives may be appointed with the company that manufactures the product. The Basic Agreement defines "Primerica Companies" as "Primerica and other companies authorized by Primerica to enter into agreements with, or to offer products or services through, agents in the Primerica sales force." This is true for all agents, not just Mike.



So any Primerica agent can sell ING products, correct?



Well, what if that Primerica agent contracted directly with ING? Then what?
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#4 Consumer Comment

Confusing Regena

AUTHOR: Francis John - (U.S.A.)

What you may have missed here is the fact that if a product is approved for sale by Primerica representatives, then representatives may be appointed with the company that manufactures the product. The Basic Agreement defines "Primerica Companies" as "Primerica and other companies authorized by Primerica to enter into agreements with, or to offer products or services through, agents in the Primerica sales force." This is true for all agents, not just Mike.



So any Primerica agent can sell ING products, correct?



Well, what if that Primerica agent contracted directly with ING? Then what?
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#5 UPDATE EX-employee responds

Rebutting Regena (Duluth) and Crystal (Opelika)

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

Quoting Regena:



"Therefore, the larger the downline the more product sold, and thus, the more income a representative may earn." Thank you for admitting what was lacking from your prior misleading reports.



"_________ has never been found by any State or regulatory agency to be a "pyramid" and your continue reference to Primerica as such is false, misleading and derogatory to our company." Two

comments:



First only the buying and selling of Crimerica's junk term insurance product keeps Crimerica legal as the law currently defines it. But that doesn't make it right and the law can be changed (e.g. the proposed Business Opportunity Rule R511993 by the FTC which Crimerica fears).



Second Crimerica's metamorphosis website refers to

Crimerica as being "pyramid-like." So speak to your cronies as they're making the "false", "misleading" and "derogatory" statements about themselves.



Now for Crystal who posted onto another thread

(dated 10/2/2006):



"I just wanted to make sure everyone realizes that everyone in Primerica are INDEPENDANT representatives." Independent? (which you misspelled). Per your IBA contract, Crimerica owns your downline and clients. Furthermore Crimerica can dictate who you can sell the business to. That isn't independence.
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#6 UPDATE EX-employee responds

Further rebutting Regena (Duluth)

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

"_________ has never been found by any State or regulatory agency to be a 'pyramid.'" Not yet because the way the law is written, as long as buying and selling of a product takes place, it's

legal (but those very few prosperous fat cats derive the vast portion of their income from their downline as you've finally noted).



"...your continue reference to _________ as such is false, misleading and derogatory to our company."

Not true here Regena because Crimerica itself admits to being "pyramid-like" (just check their metamorphosis website).
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#7 UPDATE Employee

Confused

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

So then Regena what product is it that Mike is allowed to market through ING. WHat is the product that has been approved?
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#8 UPDATE Employee

Home Office response to Stuart

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

Stuart-



My statement that Primerica representatives are not compensated for recruiting is factual and accurate. Primerica representatives are compensated solely based on product sales. Therefore, the larger the downline the more product sold, and thus, the more income a representative may earn. Our agency system where agents earn commissions and bonuses on their own personal production, as well as earning override commissions on agents they supervise is a common form of distribution in the industry. Primerica has never been found by any State or regulatory agency to be a "pyramid" and your continue reference to Primerica as such is false, misleading and derogatory to our company.



Regena Wood

Home Office

Primerica Financial Services

Duluth, GA
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#9 Consumer Suggestion

A point of clarification on what Regena said (Duluth)

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

Quoting:



"_________ representatives are not compensated for recruiting...." Misleading because the bigger the downline, the more income you're likely to derive (which is why I say that Crimerica is pyramid-schemed in nature).
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#10 UPDATE Employee

Response to Stuart

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

Stuart-



What you may have missed here is the fact that if a product is approved for sale by Primerica representatives, then representatives may be appointed with the company that manufactures the product. The Basic Agreement defines "Primerica Companies" as "Primerica and other companies authorized by Primerica to enter into agreements with, or to offer products or services through, agents in the Primerica sales force." This is true for all agents.
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#11 UPDATE EX-employee responds

Responding to Regena Wood (Home Office)

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

"Mike's appointment with ING USA is required for him to receive certain commissions on an approved non-Primerica product." This would represent a conflict of interest and would make Mike

be in violation of his IBA contract.



Why would Mr. be accorded such special treatment?
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#12 UPDATE Employee

Primerica employee responds to false report

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

I am a home office employee of Primerica and have been employed with Primerica for more than 15 years. My position within the home office affords me the knowledge to respond to this post on behalf of the company. The post by "GF" of Orange, CA is riddled with falsehoods. For example, Primerica representatives are not compensated for recruiting and they are not required to purchase or use Primerica products. Further, all representatives must hold the required regulatory licenses to offer Primerica's products and commissions paid to the representatives are based solely on product sales. Primerica representatives may only market products approved by Primerica, some of which are not Primerica products. Mike's appointment with ING USA is required for him to receive certain commissions on an approved non-Primerica product.



Mr. Humphrey has not been affiliated with the Primerica companies in over a decade. The allegations that Mr. Thawley, Mr. Holmes and Mr. Clause ?may be lurking in the bushes somewhere? is totally false and unfounded. None of these gentlemen are currently affiliated with the Primerica companies, and they haven't been for many years. The allegation that Primerica, World Financial Group, and Mr. Humphrey are "colluding and running a racket" is totally without merit, as Primerica and World Financial Group are direct competitors.



Regena Wood

Home Office

Primerica Financial Services

Duluth, GA
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