*UPDATE Rip-off Report Investigation:
EDitor's Comment: 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 - MILICO Life Insurance Scam
I am writing to obtain information about Primerica/Milico Life insurance on behalf of my 67 year old mother. During a recent review of her Life insurance and Will I questioned my mother about the value of her life insurance policy. She indicated to me that on December 2, 1988 she bought a $100,000 life insurance policy from Massachusetts Indemnity out of Deluth, Georgia. She indicated that the policy had been transfered three times because the Life Insurance company changed hands.
My mother is not in good health and gets very confused with this type of matter. She said she found a policy from Primerica/Milico and it stated that it only had a $7000 face value. She has no phone number for the company and for years the monthly payments have been taken out of her account automatically by EFT. She gets no monthly or annual statements and has no Insurance Agent to contact.
I tried locating them on the Internet and I found your site with claims of fraud and Rip-Off's against this company. I have her policy number and the company name and that is all. I am wondering if you have any record of this type of a switch in policy values? I have very little to go on at this time. I am asking her to trace down all the paperwork she can find about the policy and the company since 1988 to see if I can piece together what has happened. She plainly thinks that she was sold a $100,000 Life Insurance policy and I fear she has been taken.
The biggest problem is that if the policy has any value at all and is only worth $7000 and she will not be able to obtain additional insurance due to her age and current health. Back in 1988 she was 54 years old and in realtively good health. She now has countless health problems and is probably not insurable or will have to pay an enormous amount for additional coverage.
Can you help me piece all of this together and decide if I need legal help ?
David de Poincy