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  • Report: #73907

Complaint Review: Primerica Life Insurance Company | Ripoff Report Verified™ …businesses you can trust.

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  • Submitted: Wed, December 03, 2003
  • Updated: Wed, February 26, 2014

  • Reported By:Greer South Carolina
Primerica Life Insurance Company | Ripoff Report Verified™ …businesses you can trust.
3120 Breckinridge Blvd. Duluth, GA 30099 Nationwide United States of America

Primerica Life Insurance Company ripoff Primerica decreasing term life insurance invest the difference formerly A. L. Williams Duluth Georgia


*UPDATE: Primerica gets a POSITIVE rating from Rip-off Report in customer support & satisfaction. Primerica pledges to resolve complaints from the past, present and in the future, and give 100% commitment to customer service-say Company Executives!

*Consumer Comment: A satisfied customer for over 10 years.

*Consumer Comment: A response to the Primerica Life Insurance Complaint .... It sounds as though you did not fully understand and failed to do any research on your own before posting these comments.

*Consumer Suggestion: 20 years and you have been Ripped off, Really?

*Consumer Comment: you invest the difference, not the insurance company

*UPDATE Employee: You did not purchase a whole life policy

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SPECIAL UPDATE: February 26 2014: 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 Rip-off 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. [continued below]....

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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

Nearly 20 years ago,I purchased a policy under what was then called "A.L.Williams". At the time, it was one of those MLM cash-cows that promised that, as I grew older, my term life insurance needs would decrease, and they'd invest the difference.

By paying the same rate over the course of the ploicy, I was promised, the amount applied to the term life insirance polcy would decrease, with the difference invested so that I could build a nest egg for my future and that of my family.

Well, nearly 20 years later, with A.L. Williams having been bought by Primerica, I checked on my "investments". I have nothing with them but a straight term life insurance policy that pays off only if I die.

The representatives knew what I was talking about, but passed me back and forth between insurance and investments. The two are completely separate, they said, leaving me with nothing but a $6000 to $7000 investement in, you guessed it, my demise.

If any of you purchased plans under A.L. Williams back in the mid to late 1980's, you'd better check it out with Primerica. I will be collecting my original materials. If enough of us find that we've been similarly hoodwinked, may be we can band together and do something about it.

Don't take your status with Primerica as a former A.L. Williams customer for granted. I did, and it has come back to bite me. I know that I am not alone in this - check and see for yourself. Then, comment about it on this post until one or more interested attorneys see a class action lawsuit in it!

Dallas Greer, South Carolina
U.S.A.


This report was posted on Ripoff Report on 12/03/2003 03:47 PM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica-Life-Insurance-Company-Ripoff-Report-Verified-businesses-you-can-trust-/nationwide/Primerica-Life-Insurance-Company-ripoff-Primerica-decreasing-term-life-insurance-invest-th-73907. 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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REBUTTALS & REPLIES:
0Author 5Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

A satisfied customer for over 10 years.

AUTHOR: judith44 - ()

I am a happy and satisfied customer for over 10 years know. When I bought term life insurance from Primerica, the representative was really professional, and sat down with me and my husband and gave us different options and he tried to find the best for us not the best one for the company, and he explained the difference between whole life insurance and the term insurances. Before I had a insurance with another company that sold whole life insurance but because I requested the term life insurance they sold that to me but they sold the wrong one the annual renewal term which increases every year (bad idea), so I was so happy when Primerica showed me the difference. They let me know it was a straight term insurance and then I invest the difference that I was paying in this other whole life insurance. If I die my beneficiary will get my savings in my investment plus the benefit from my coverage. Something that was not going to happen with a whole life insurance. Primerica is simple and no hidden stuff. I am a happy customer.

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#2 Consumer Comment

A response to the Primerica Life Insurance Complaint .... It sounds as though you did not fully understand and failed to do any research on your own before posting these comments.

AUTHOR: Terry W. - (United States of America)

I am responding to the person who claims he was " Hoodwinked" by Primerica. First of all I'm sure your agent told you that you were getting a term insurance policy. It sounds as though you did not fully understand and failed to do any research on your own. Everywhere on the internet now if you type in life insurance there is an abundance of information as well as definitions for both Term & Cash Value Life Insurance Policies. If you attempted just a minimum amount of research you would have quickly found out that Term Insurance is pure insurance with no savings attached. It works just like your auto insurance if a claim is filed the company pays (No Frills). You know people like you really bother me. You purchase something that you obviously don't understand and refuse to do any due diligence of your own and then you're quick to slam an entire company and ruin a reputation all because of your ignorance. Do everyone a favor PLEASE EDUCATE YOURSELF, and get a life you have too much time on your hands.
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#3 Consumer Suggestion

20 years and you have been Ripped off, Really?

AUTHOR: john - (United States of America)

I can understand your point of view. I too have a policy with them and  familiar with the term and investing in mutual fund conversation. I havent had a problem because I have a guy that explained it right and has followed up. I am amazed that you are bashing the company instead of the agent, also it puzzles me that it took you 20 years to accumulate $7000 and you didnt see a need to talk to your agent 15 years ago. Did you all even discuss how much money you would need to put away to possibly have a chance to accumulate 500K?  It doesnt sound like you took much diligents with your understanding of how it works yourself, which I know for sure they offer. My guy tried to recruit me! Please do your own research and dont be afraid to ask questions, that will at least test the how competent your agent is.
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#4 Consumer Comment

you invest the difference, not the insurance company

AUTHOR: Christine - (Canada)

As already noted by one respondent, the claim was 'buy term, invest the difference'. "You" is implied in that phrase - you invest the difference, not the insurance company.

I invested in mutual funds in 1988 when I purchased the term policy from AL Williams and by the time my daughter needed university funds, I had well over $5000 saved up (I was investing only $35 per month in '88, which I then increased to $50 per month by '98). That money paid for the first two years of tuition, and I am so glad that I heard of AL Williams.

Sorry that the 'ripoff' complainer didn't understand the terms of his policy, but many of us did and we have reaped the benefits.
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#5 UPDATE Employee

You did not purchase a whole life policy

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

you did not purchase a whole life policy. The buy term and invest the difference idea is properly protecting your family in case you die for a cheaper amount than whole life allowing you to invest the difference (the extra money you would have paid if you had bought whole life) it does not mean money will be automatically invested for you through the policy if this were the case you would have bopught a whole life policy and not from primerica because it is not offered.The money you saved by purchasing term instead should have been invested properly in a different vehicle. You definatley misunderstood the concept let me ask you this did you put money aside in a retirement vehiclew as well???
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