• Report: #5310

Complaint Review: Primerica | Ripoff Report Verified™ …businesses you can trust. Commitment to customer satisfaction, positive rating for its customer support.

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  • Submitted: Thu, May 31, 2001
  • Updated: Mon, February 17, 2014

  • Reported By:Tempe Arizona
Primerica | Ripoff Report Verified™ …businesses you can trust. Commitment to customer satisfaction, positive rating for its customer support.
Nationwide United States of America

Primerica REVIEW: Primerica offers excellent business opportunities & stands behind its products & services, feel confident & secure when doing business with Primerica, backed by Ripoff 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 RipOff Report that Primerica pledges to resolve complaints & address any inquires from the past, present & in the future.

*Consumer Comment: I have seen worse products than primerica's

*UPDATE EX-employee responds: Public Service Announcement regarding Primerica

*UPDATE Employee: I agree with everything john - new york, New York have seen nothing unethical so far

*Consumer Comment: Another 12% projection by a primerican

*UPDATE EX-employee responds: Rebutting Travis (Las Vegas)

*Consumer Comment: Do you really need any more than this??

*Consumer Comment: To Mr. VUL

*Consumer Comment: The better business bureu agrees along with the Fed. Governement, state govenments, Money Magazine, Forbes, Fortune, Success and countless others.

*Consumer Suggestion: Primerica is a direct descendant of AL Williams who was shut down and sued time and again for unethical business practices by the federal government.

*Consumer Comment: Can you say Jonestown?

*UPDATE Employee: been reading some of these articles and well to be honest, some definitely have merit...

*UPDATE Employee: Apology to those with bad experiences:

*Consumer Suggestion: Hamburger University

*Consumer Comment: Primerica and the other MLM's donkeys

*Consumer Comment: Primerica's Cult-like Methodology - An Outsider's Perspective

*UPDATE EX-employee responds: Response to Graeme... Why am I being attacked?

*Consumer Comment: tony, you don't see both sides

*UPDATE Employee: Seeing Both Sides

*Consumer Comment: Thanks to everybody for the input

*UPDATE Employee: Current recruit, wants out, how?

*Consumer Comment: In response to Rick

*UPDATE Employee: Northwestern Mutual???

*Consumer Comment: Am Best Rated Company BS!!!!!

*Consumer Comment: Real Financial Advisors

*Consumer Comment: Sales is Sales....ALL of the other companies are doing preety much the same thing...SELL, SELL and SELL AGAIN.

*UPDATE EX-employee responds: Slow down and think!! I was not successful at Primerica because they mislead and misrepresent what they are doing

*UPDATE Employee: Man you guys know everything

*Consumer Comment: Gee, sure sounds like my expereince, not a company I shall recommend to my friends. Poor service, rates higher than others for insurance

*UPDATE Employee: Wake up and move your butt... Not bad -for a "cult".

*UPDATE Employee: Response to Duane - Only a fool would think that multi-billion dollar corporations would support unethical behavior

*Consumer Comment: Let us know how you're doing in a year

*UPDATE Employee: CitiGroup Says it all

*Consumer Comment: Join Primerica... check you logic at the door

*Consumer Comment: Join Primerica... check you logic at the door

*Consumer Comment: Join Primerica... check you logic at the door

*UPDATE EX-employee responds: Primerica Stole 3 Years of my Life

*Consumer Comment: the differences are little, find another agent, either with PFS or any other financial planning company out there

*Consumer Comment: the differences are little, find another agent, either with PFS or any other financial planning company out there

*Consumer Comment: the differences are little, find another agent, either with PFS or any other financial planning company out there

*Consumer Comment: the differences are little, find another agent, either with PFS or any other financial planning company out there

*Consumer Comment: Does PFC bring value to clients?

*UPDATE EX-employee responds: how do i get my 199.00 back??? nothing but a scam so i quit!

*Consumer Suggestion: Can you provide more detail? Also, a financial plan

*UPDATE Employee: It works for me and my friends!!

*Consumer Comment: Significan others beware ..My girlfriend joined this highly unethical company.

*Consumer Comment: If you want to go into financial planning, at least TRY to find a small stable independent firm that will take you in

*UPDATE EX-employee responds: PFS is a wrong move ..I wasted twenty minutes of my life listening to two guys do a tag team presentation about how miserable and financially hopeless their lives were prior to Primerica.

*UPDATE Employee: I've never read so much nonsense at one site before

*UPDATE EX-employee responds: is it ethical to have a business model that makes you money? MLM benefits ONLY PFS

*UPDATE Employee: compares Primerica with the Adult Film industry, Nevada prostitution, and "miracle pill" companies.

*UPDATE EX-employee responds: Ex-Primerican Offers the Following:

*UPDATE Employee: Someone please name a company that is ranked higher than Primerica on Forbes.

*UPDATE EX-employee responds: Primerica is Legitimate, eh? ..also fits the description of the Adult Film industry

*UPDATE EX-employee responds: You've got to be kidding!!!

*Consumer Comment: My professional opinion: Don't Join

*UPDATE Employee: I'm on pace to hit $300k by the beginning of 2005 (at age 24)!!

*Consumer Comment: Reality check, 6 million customers and a handful of dissatisfied folks doen't make for a bad company

*UPDATE EX-employee responds: clarification, PFS one can not become a financial planner, since financial planners must be independent.

*UPDATE Employee: What about the customer

*Consumer Comment: ..After doing extensive research on them I chose not to spend my hard earned money on them.

*UPDATE Employee: A True Opportunity

*UPDATE EX-employee responds: Josh, Get Real. one can go out and buy a financial planner license

*Consumer Suggestion: More baloney from a defender of PFS, lies and the brainwashing techniques

*Consumer Suggestion: There are alot of numbers and statements w/ no backing.

*Consumer Comment: How MLMs profit from rapid turnover

*UPDATE EX-employee responds: Agreed, Run Away fast

*UPDATE Employee: Response to Kim from Gilbert, AZ ..look in the resume postings on such websites as monster.com

*Consumer Suggestion: I have yet to see Primerica advertise in a major newspaper or job fair.

*UPDATE Employee: majority of Americans are financially ignorant and Primerica provides

*UPDATE Employee: Being a legitimate company, Primerica does try to recruit some people via resume sites.

*UPDATE EX-employee responds: Primerica works for some....

*Consumer Comment: If you need to make money then you need to get out. The system is designed for failure. The people at the top profit more from a rapid turnover

*Consumer Comment: If you need to make money then you need to get out. The system is designed for failure. The people at the top profit more from a rapid turnover

*Consumer Comment: If you need to make money then you need to get out. The system is designed for failure. The people at the top profit more from a rapid turnover

*Consumer Comment: If you need to make money then you need to get out. The system is designed for failure. The people at the top profit more from a rapid turnover

*Consumer Suggestion: Josh, please reconsider and read all the complaints on this site. Primerica is feeding you a load of BULL.

*UPDATE Employee: Yes, there are problems with Primerica, but they are not insurmountable.

*UPDATE Employee: Still Confused, I thought the primerica sales pitch seemed to good to be true, but it also seems plausible

*UPDATE EX-employee responds: "We're here to help people" --> B.S. ..recruiting practices are nothing short of shameful

*Consumer Suggestion: Why your getting screwed!!!

*Consumer Comment: Have any of you ever worked in the Financial 'Sales' industry?

*Consumer Comment: Primerica is a cult!

*Consumer Comment: Run as far away from this company as you can!

*Consumer Comment: an MLM is an MLM

*UPDATE Employee: What is the difference between Primerica and, say, American Express Financial Advisors?

*Consumer Comment: Actually I think MC Hammer had two hits

*Consumer Comment: How Did Primerica Find YOU?

*UPDATE Employee: In response to Hammertime ..This guy sounds more like MC Hammer a one-hit

*Consumer Comment: Take those MLM glasses the rest of the way off, Ken

*Consumer Comment: Not quite accurate ..When PFS people claim that MLM is taught in MBA programs at prestigous colleges and universities, they go a little further.

*Consumer Comment: Primerica's Goons

*UPDATE EX-employee responds: I could go on for days but....

*Consumer Comment: The legitimacy of Primerica

*Consumer Comment: The legitimacy of Primerica

*Consumer Comment: The legitimacy of Primerica

*Consumer Comment: The legitimacy of Primerica

*UPDATE Employee: SEC and a general rebuttal

*UPDATE Employee: Personally I dont have much respect for this company, they claim to be a rich and a legitimate company

*Consumer Comment: United Shills of Primerica, listen UP!

*Consumer Comment: if they are so honost, why are they under investigation?

*Consumer Comment: Not everyone is lazy or 80%'s ..They're DESPERATE. Don't get sucked in.

*Consumer Comment: Cory, I hope your experience continues to be positive BUT...

*UPDATE Employee: What???? ..There are things that this company has to offer that no other company can

*UPDATE Employee: What???? ..There are things that this company has to offer that no other company can

*UPDATE Employee: What???? ..There are things that this company has to offer that no other company can

*UPDATE EX-employee responds: To Rebuttal: John 7-15-02

*Consumer Comment: Those who complain are known as 80%ers! ...then, *EDitor's Comment to more drivel

*UPDATE Employee: Shut Down?

*UPDATE Employee: Shut Down?

*UPDATE Employee: Shut Down?

*UPDATE Employee: Shut Down?

*UPDATE EX-employee responds: I worked for Primerica, That office was shut down, and this IS a corrupt scam.

*Consumer Comment: To John, July 12

*Consumer Comment: Tell us please

*UPDATE Employee: Ignorant People

*Consumer Comment: Wish you knew what you were doing

*Consumer Comment: Wish you knew what you were doing

*Consumer Comment: Wish you knew what you were doing

*Consumer Comment: Wish you knew what you were doing

*UPDATE Employee: Be informed

*0: My experience with Primerica has been positive *Then why so many Rip-off Reports on this company. Click on the link below!

*0: My experience with Primerica has been positive *Then why so many Rip-off Reports on this company. Click on the link below!

*0: My experience with Primerica has been positive *Then why so many Rip-off Reports on this company. Click on the link below!

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SPECIAL UPDATE: February 17 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 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. [continued below]....

..... 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

Ripoff Report Verified .. part of Ripoff 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..

RipOff Report REVIEW Progress Report on Primerica Financial Services 02-06-2013

*UPDATE: Ripoff 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. Ripoff 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 Ripoff Report believe that Primerica is a solid, reliable company that stands behind their agents and its products. If you think that becoming a Primericarepresentative 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
=====================

*UPDATE Ripoff Report REVIEW: 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.


Primerica Financial Services 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 - Multi-Level Scam brainwashing, definitely another cult ..RUN AWAY!

WATCH OUT! I have seen my best friend be lured by the promises of "wealth" and "financial freedom". Before receiving a dime (and having to pay to "join") he received several awards....some payment for hard work and MANY hours spent peddling and recruiting.

He has been convinced that anyone that does not like Primerica is not worth having in your life.

He has been TOLD to attend church and join church organizations for the "contacts" and to improve his reputation.

I have heard cult horror stories that don't compare to the brainwashing my best friend has received from Primerica.

Read all the other Rip-off Reports on this web site as to what they have done to so many others!

I simply say to anyone foolish enough to consider going anywhere near Primerica, "RUN AWAY!!!"


This report was posted on Ripoff Report on 05/31/2001 12:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica-Ripoff-Report-Verified-businesses-you-can-trust-Commitment-to-customer-satisfaction-positive-rating-for-its-customer-support/nationwide/Primerica-REVIEW-Primerica-offers-excellent-business-opportunities-stands-behind-its-pr-5310. 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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#1 Consumer Comment

I have seen worse products than primerica's

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

I have seen worse products that primerica's. What makes primerica particularly galling is how they say everyone else in the business is a crook but them, they are out to help people, they want to do what is 100% right 100% of the time....and then sell products that are overpriced and uncompetetive.

They do sell them too...they sell the heck out of them....but not to smart consumers. Smart consumers look at the high insurance rates and turn away. Smart consumers look at the high interest, points and fees charged on the loans and turn away.

Primerica's success selling life insurance can't be determined by the quality of their products.
Many are even worse. However, those companies do quite well too because in reality life insurance is sold, not bought. You can sell the worst crap in creation if you know how to market it....and primerica knows how to market their crap.

Smart consumers may fully buy into the idea of buy term and invest the difference, but they know the more difference in premium there is the more they will have to invest.
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#2 UPDATE EX-employee responds

Public Service Announcement regarding Primerica

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

For all who want to join up with Primerica, protect your warm market (your friends and relatives).

Get licensed first before going on appointments with your "trainer". This way you have your best shot at making some commission at Primerica before your upline can grab it all for themselves. If they try to talk you into holding off on getting your license, turn a deaf ear, get licensed first, then sell to your warm market and get your best chance at making commission.

Regarding Man from Regina, I've seen you post before under other names and you're a big, lying shiller for Crimerica. Put your money where your mouth is and put documentation on Ripoff Report backing your claims which I know you won't do because you don't have the evidence to back you up.
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#3 UPDATE Employee

I agree with everything john - new york, New York have seen nothing unethical so far

AUTHOR: Man - (Canada)

I agree with everything John in New York said, I am just getting involved in Primerica Financial Services, and have seen nothing unethical so far. The only thing that concerns me is approaching people about MLM, to be quite honest. Also every self employed contract basis position, that requires licensing, requires that you pay that fee upfront. I know this because before I was an insurance salesman with Pensylvania Life Insurance Company, and that required me to pay that fee upfront.(Which was $199) Also I am making a hell of alot more money, doing this, than I was selling just insurance. I have not seen anything wrong.
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#4 Consumer Comment

Another 12% projection by a primerican

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

I constantly see 12% being thrown around as the average historical return for the stock market.

here is the real truth according to two well known sources not shilling thier own books, like Suze Orman....

If you go to the SP500 website and take the historical data that they give for thier own index the raw return on the SP500 is 8.40% since its inception. "Raw return" means BEFORE expenses and taxes. It does not include the effects of inflation.

The Wall Street Journal says that since 1926 the REAL RETURN for the Dow Jones Industrial Average is 6.40% AFTER taking into account typical expenses, taxes and the effect of inflation. 6.40% ain't nothing to sneeze at...but its also not 12%.

When someone is throwing around a 12% average for the stock market know immediately they are shilling for the themselves as salesmen or for the securities industry in general.

By the way...my take on the VUL debate is that it is fine for someone who can;
1. overfund it right up to MEC guideline premiums
2. needs to yearly contribute more into cash advantaged accounts than can be done in a ROTH
3. should never be used for someone who needs to be conservative in paying life insurance premiums
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#5 UPDATE EX-employee responds

Rebutting Travis (Las Vegas)

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

Quoting:

"Do a comparison, see how many people complain about something like wal-mart and then see how many complaints Primerica has."

Great idea Travis. I looked up Wal-Mart and Primerica on Ripoff Report today (2/19/06) and saw this:

Wal-Mart: 227 entries
Walmart: 294 entries
Primerica: 519 entries

Now Crimerica is just a pimple compared to Wal-Mart, yet far more complaints per thousand customers are registered against Crimerica on Ripoff Report which is designed just for that. The BBB doesn't do it for me because I know they heavily favor business members as opposed to businesses that are not members.

Since this website is designed to help out victims
(including agents), then as a public service to the new agents, I urge you to get licensed before
going out on any training appointments so that you
can get paid some commission, meager as that commission may be (if any policies are sold, make sure that your name is on the contract).

Sorry to run but I have to deal with that loser, Ron, on another thread. Thank you for your post Travis.
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#6 Consumer Comment

Do you really need any more than this??

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

Special Report
The Forbes Global 2000
Edited by Scott DeCarlo, 03.31.05, 6:00 PM ETThe
By The Numbers
The Best...


Top Ten
1.Citigroup (NYSE: C)

2.General Electric
3.American Intl Group
4.Bank of America
5.HSBC Group
6.ExxonMobil
7.Royal Dutch/Shell Group
8.BP
9.ING Group
10.Toyota Motor

http://www.forbes.com/2005/03/30/05f2000land.html
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#7 Consumer Comment

To Mr. VUL

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

LIFE INSURANCE WITH OPTIONS GALORE Many people spurn life insurance as an investment vehicle. Here's the industry's latest bid to change minds.

By MICHAEL McFADDEN RESEARCH ASSOCIATES Rachael Grossman, Joan W. Campo, and Susan Caminiti
November 11, 1985
(FORTUNE Magazine)

But is it a good deal? FORTUNE asked Pruco to project the future cash value of a $100,000 policy for a 35-year-old nonsmoking male, assuming various rates of return on the invested premiums. In the most optimistic projection, the investments would rack up a total return -- price-appreciation plus interest and dividends -- of 12% a year, giving the policy a cash value of $41,914 after 20 years (see chart, page 155). The same individual, however, could buy term insurance and invest the difference in a no-load mutual fund. One of the cheapest term policies, offered by Berkshire Life of Pittsfield, Massachusetts, initially costs $136 a year for the same male. Like all term insurance, its premium rises, to $532 in the 20th year. Over two decades the term policy is $14,926 cheaper than the variable-universal policy. If the owner invests the savings in a mutual fund that earns a 12% total return and charges shareholders a fairly typical 1% for expenses, his investment plus total return grows to $57,255 -- far more than the cash value of the variable-universal policy.But why does the cash value of variable-universal lag so far behind the pretax earnings on the mutual fund? The answer lies partly in insurers' high sales costs and administrative expenses. It takes a complex computer program to keep track of fluctuating premium payments, as well as the cash value of investments that can be switched around. Because the returns are unpredictable, the Securities and Exchange Commission has tentatively designated variable-universal policies ''securities,'' with all the attendant risks. It has also barred insurers from charging annual administrative fees exceeding 9% of the premiums. Many insurers say that's not enough to cover costs and are holding off on variable-universal while they await a final SEC ruling. In the meantime, some insurers caution that variable-universal isn't for everyone.

as well as Susie Orman Calls Cash Value Policies, VUL's a "rip off" ever heard of her?

Hey buddy anytime you want to run the numbers, lets do this. People like you irritate me, especially when I think about how you harm the consumer then I just think, keep bringing it on buddy, cuz evertime I see a new office for companies that sell this crap open up, I just think of how much fun and how much business I am gonna have replacing all this crap.
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#8 Consumer Comment

The better business bureu agrees along with the Fed. Governement, state govenments, Money Magazine, Forbes, Fortune, Success and countless others.

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

have a question?, check out the better business bureau. Do a comparison, see how many people complain about something like wal-mart and then see how many complaints Primerica has. Or do this, look up this, "I hate Jesus Christ" on google and see how many sights you find. Anybody can make one, just like the people with their opinions on this sight. This IS a prestigious company like it or not. There sight is www.bbb.org. Remember not to take advice from someone more skrewed up than you. These are the same people who could have bought a McDonald's franchise in in the 1950's for 900 bucks but called it a scam or didn't want to flip burgers. This is a business for people who have vision and dreams and desire. For all you haters, keep hating, because when you see one of these offices on every street corner in the US in about 15 years, you will be the first ones to cringe when you drive buy on the way to the same dead end job you hate to go too everyday right now.
This is straight from the BBB, is your company a member????

Primerica Financial Services, Inc.
3120 Breckinridge Boulevard
Duluth, GA 30099


General Information

Original Business Start Date: February 1977
Principal : ms Stephanie Chancey
Customer Contact: Mr. Mark Supic Sr. V.P., Corporate Relations
Phone Number: (770) 381-1000
Fax Number: (770) 564-6110
Email Address: stephanie.chancey@Primerica.com
BBB Membership: This company is a member
Type-of-Business Classification: Financial Planning Consultants
Website Address: www.primerica.com

The information in this report has either been provided by the company, or has been compiled by the Bureau from other sources.

BBB Membership

This company has been a member of this Better Business Bureau since January 1980. This means it supports the Bureau's services to the public and meets our membership standards.

Nature of Business

Primerica offers a variety of financial products and services to consumers through their nationwide sales force. Primerica and its affiliate companies are subsidiaries of Citigroup.

Customer Experience

Based on BBB files, this company has a satisfactory record with the Bureau. Any complaints processed by the Bureau in its three-year reporting period have been resolved. The number and type of complaints are not unusual for a company in this industry.
Primerica representatives are independent contractors. This Better Business Bureau report on Primerica's headquarters in Duluth, Georgia, is to serve as the national report on this firm. This ensures that all communications regarding the company are accurate and consistent.

Better Business Bureaus do not advise consumers of the type of insurance programs they should purchase since each person has different individual needs and requirements. However, we offer a pamphlet entitled "Tips on Life Insurance" as a matter of general information pertaining to the entire subject.


To have a "Satisfactory Record" with the Bureau, a company must be in business for at least 12 months, properly and promptly address matters referred to it by the Bureau, and be free from an unusual volume or pattern of complaints and law enforcement action involving its marketplace conduct. In addition, the Bureau must have a clear understanding of the company's business and no concerns about its industry.

When evaluating complaint information, please consider the company's size and volume of business. The number of complaints filed against the company may not be as important as the type of complaints and how the company handled them.

The Bureau processed a total of 47 complaints about this company in the last 36 months, our standard reporting period. Of the total 47 complaints in the last 36 months, 23 of those were closed in the last 12 months.
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#9 Consumer Suggestion

Primerica is a direct descendant of AL Williams who was shut down and sued time and again for unethical business practices by the federal government.

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

Amazing! All kinds of off hand comments, emotional dribble, mis-information, false pride... I'm adding this comment to add "The Rest of the Story".

But first, I was to say Amen to Jessica of Glendale, CA; & Amen to Beth of New York. Finally, some intelligent and useful information to refer too.

My credentials come from a 6 figure income as an employee of 3 years at a highly respection life insurance organization.

So, here's my story;
I moved back to my hometown and hooked up with a friend of mine still stuck in the same dead-end bartending job I left him in more than 5 years prior. After letting him know of my financial services background working back office for a 3rd party administrator for qualified plans, he tells me he's part of an organization he'd like me to look at. I said, "Sure". I mean, what could it hurt; a "friend" asked me to look into something he's been a part of for 2 years. Yes, I'm talking about Pri-whatever. I've seen many MLM schemes and avoided trying most of them. I've been in sales for 20 years and if it looks legit enough I don't mind giving it a try as extra income.

Long story short, I dismissed myself; more because I didn't have the $200 than because I wasn't interested at the time and was just hired as a Sales associate for an advertising firm. About 6 months later, I get a call inviting me to meet with him and his "Regional Manager" to look at the company again. I wasn't dis-interested at the time and accepted the invite. He paid for my lunch and asked me if I was interested and said sure, what do I have to do. He says, go to the meetings and get appointments. The appointments are easy, the meetings were impossible because at the same time I was a Youth Soccer Coach and the meetings conflicted with that activity.

I strongly believe we have to give back to our youth at some time in our life in some capacity.

Anyway, this so-called "Regional Manager" runs into my wife at a Business function and tells her that if she would only let me go to the meetings I could be very successful and why would she want to hold me back.

She was confused and mad and came to me. Needless to say, any manager of any outfit that would out n out lie like he did needed to be put in his place quickly.

The next time I ran into him, he was with a recruit at another business function and I pointedly told him to stay away from me and my family; then I turned to the recruit and told him how this yahoo lied to my wife and that he should be careful.

About 2 years later I hooked up with an outfit that got me licensed and I took that license to the company I'm with now of 3 years.

To The Facts!

1) Primerica lies to recruit the gullible and manipulate the uneducated.
2) Primerica is a direct descendant of AL Williams who was shut down and sued time and again for unethical business practices by the federal government.
3) Three regional Primerica business offices were shut down in San Francisco Area about 3 or 4 years ago.
4) They sell Mutual funds using fake statistics and misrepresentations of earnings to sell them.
5) I'm not 6 or 6.3 license and talked circles around the 8 year touted veteran of Primerica during my first year as a life agent and blew holes in his pitch in-front of his pupil during an interview in-front of one of my client's. No my client never wasted his time or money with Primerica.
6) Primerica has absolutely no Knowledge of Universal Life Insurance because if they did, I would go head to head against their principle of buy term and invest the difference. I have a product that earns over a 30 year period about an 8% internal rate of return at tax deferred growth. Primerica would have to Guarantee a 10-11% taxable product to compete with me. And if they spoke the truth to their clientele, they would tell them the average investor, according to one of Wall Street Journals' articles, only earned 5% between 1986 & 1999.
7) Primerica has been sued many times in the recent 5 years and lost due to unethical business practices.

The bottome line is; it doesn't matter who you sell for as long as you have the credentials, such as CLU, LUTCF, ChFC, CFP. A series 7 doesn't make you a Financial Advisor. Of all the brokers and life agents in america, there are only about 143,000 actual Certified Financial Planners / Financial Advisors in the USA.

I'm glad I saved my $200 for my CE's, my LUTCF, my ChFC, my CFP, & my CLU.

Rick, Ryan, Justin -- It's too bad you are too close minded to check out the benefits of other life insurance products that are available to real Life Insurance Agents. Thank god the law is protecting our Seniors from Predators such as you. You'd liquidate and churn their accounts till there was nothing left in them for your personal gain.

You'd sell your mother for a Quarter and all behind the name called PriMerica.

OH, one more thing, Checking the BBB may not be perfect, but, it is the best thing out there protecting BAD Business from leeching their cancer into our society.

CHECK THE BBB BEFORE DOING BUSINESS WITH ANY COMPANY!!
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#10 Consumer Comment

Can you say Jonestown?

AUTHOR: Graeme - (Canada)

If ever there was a Primerica Rep (not employee, they don't believe in those) that finally admits to Primerica being a cult, it's good 'ol Josh from Saskatchewan. And I quote:

"This has been my experience, the man who hired me, all of our co-workers, and of course myself all see this business as a ministry."

If I ever find myself at another Primerica office with a pep talk going on, I'll have to remind myself not to drink the Kool Aid.
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#11 UPDATE Employee

been reading some of these articles and well to be honest, some definitely have merit...

AUTHOR: Josh - (Canada)

I have been reading some of these articles and well to be honest, some definitely have merit... but too many things said in this forum is all circumstantial or hyped up emotions...



First off, I would like to break down some things with you...



To be licensed as a person to sell life insurance or segregated funds you need;

-A book to study (called a Life License Qualification Program) in this it teaches the several different types of insurance and segregated funds and how they work. (Usually about the size of a mid to large sized phone book... so there is a decent amount of information you need to retain in order to take and pass the exam)

-40 hours of training

-pass a LLQP (restricted) exam and City Bylaw exam

-yearly renew of your E & E

-yearly renew of your 'life license'

-every 2 years you need 20 hours of in class training

-a sponsorship

-With-in two years of being licensed the person will have to take their second LLQP exam which will then make them an unrestricted rep.



These are the rules... whether you are sponsored with Primerica or any of the other financial institutions, these are the rules. In Primerica, to get all of the above, it will cost you under $350 when all is said and done (and that is definitely a high figure) I won't try and quote other organization's prices to get the same thing, you can find that out yourself. (But I can almost guarantee you couldn't do that for that price anywhere else... but hey, prove me wrong)



No matter what institution you are apart of, you must adhere to the rules and restrictions set out by the life council, fed. and provincial government's laws. If you act in a manner against any such body, your sponsorship and or license will be either suspended or canceled. If an office does this, they will be shut down. Remember, this is all the generic rules... period!

To hold a mutual funds license or anything else, similar rules are enforced as well.



Has there been many Primerica Reps that have abused there position out of greed and self-centeredness! For sure! Yes, there are offices that have not followed all the rules set out by the governing bodies and yes they have been shut down. Yes people... many many people, have come on board and then quite soon after. These are all true.



Things that are not true... you do not need to meet a certain quota of sales or recruits. You are not a professional in anything to do with mortgages and in certification for $mart Loans... they tell you that! In fact, if you advise any person in anything to do with mortgages or anything else financial that you don't have a license for, then you stand to get your sponsorship canceled!



Never ever EVER have I EVER heard of someone ever telling a client to make a decision that is not in the best interest of that person. And every time that I was out being trained, I was always told that if the person is doing everything right, then GREAT! The Financial Needs Analysis will tell them that on paper.



A Primerica Rep. is in no means an expert on everything financial... we know some basic concepts about money that most people don't know that we think everyone should know. We don't believe that a person needs life insurance for their entire life nor should have their savings plan wrapped in with their life insurance. There are reasons why we don't believe this helps the consumer. We don't believe that the banks have their client's best interests at heart because their primary way to make money is to keep you in debt. If you disagree, and can argue something legit, then by all means!



This has been my experience, the man who hired me, all of our co-workers, and of course myself all see this business as a ministry. I solidly believe that our products are competitive and help out the consumer. We sit with many many families and teach them concepts about money. We bring in 3rd party material that teaches people about concepts. We teach people about what products they have, what they do, and how they work. Never have I had to 'sell' anything. All I had to do is show both sides. We show families who think they are doing great with their current plans, which in actuality they are going to be broke 10 years after they retire. These are the numbers and figures, the client can do those themselves... you can't argue with the numbers. So if I can show someone how I can rearrange where they are currently spending their money and use it more efficiently, is their anything wrong with that? So if I can show a person on paper, the numbers, that they can get out of debt sooner, realize 'THEIR' financial goals (not mine!), and protect their loved ones in the case of a premature death with out spending any more money... that would make me happy. And if I got paid to do that, that would make me happy as well!



I can't speak for any of your experiences, but I have seen how we can help families. I have seen how you can bring people, with out using pressure sales tactics, into the company. I don't work for money; I work to help out families. So please, in your generalizing of Primerica, please don't include me in that. I work with kids with mental and physical disabilities. I work in ministry and in the next month I will be moving from a nice home on the outskirts to live in the inner-city... to live in ministry! I help people for a living... I am not in this to make money, there is no 'shifty sales pitch'... and yet, I'm still successful...



I'll end off with two points...

-High turnover rates are created when either you do not provide what your employees need, or you provide too much freedom. 80% of people are not disciplined enough to actually be self-motivated... 20% are the Bill Gates, Donald Trumps, etc. The people who do not need the structure of a job to keep their financial security in check. That means we will have an 80% turn over rate because to be successful, you need to be that 20%.

-Think of this... If you owned a company worth ONE TRILLION DOLLARS (that's McDonalds, Wal-Mart, Star Bucks, Microsoft, a few successful oil companies and who ever owns this web space all put together... well actually that comes close to a half of a trillion dollars... but we can say it equals a trillion for arguments sake) If you owned that kinda company, in that kind of level... would you ever even think about touching something that you thought could be illegal in any way shape or form??? If you owned a trillion dollar company, you would be very good at making good financial decisions... so investing money and time into a company that was illegal would probably not be in your best interests.



I hope my opinion helps at all in this, and of course, this is all just my opinion. At the end of the day, I still am going to be doing what I'm doing, this forum will not be changing how I life my life. God Bless.
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#12 UPDATE Employee

Apology to those with bad experiences:

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

It really is unfortunate to hear all of these stories of bad experiences, but as a Primerica Financial Services agent, I would like to add my input on this matter.



First, it is very unfortunate that some have had bad experiences, but it is stereotyping to talk poorly of the company. Each office is operated independently by an RVP, and in some ways is similar to a franchise. This is why some have had problems and it is a blessing to others. If a child plays football and doesn't like it, does he tell all of his friends and everyone he speaks to that football is horrible and that they should never play it? This business is a blessing for some, but it's not for everyone, and that does not make it a scam.



I can only speak for our offices here in Oklahoma with which I am affiliated, but we are running a legitimate business with Christian principles and a heart for serving people who are dying financially. God has placed me in this business to bless others, and I will continue to do just that. We are told from the beginning here in our offices that if the money is our motivator, we will not see the success we want to achieve. My goal is to bless as many people as I can with the tools Primerica has put in my hands, and I have changed the lives of my friends and family forever as a result. I became a District Manager with Primerica in less than 45 days from the day I started, and I will continue to advance.



Our mission is to help families become debt free and financially independent, and in order to bless people in such a great way, we will have to face some opposition. If you don't face struggles and trials, there's something wrong with what you're doing. We can't expect to get rich overnight-- that's not going to happen unless you hit the lottery. Some people join PFS expecting instant wealth. Other people find themselves in the wrong office and leave bitter as a result, but these people need to direct their despair toward the individuals who lied to them instead of the company in general. We are backed not only as a company, but in our financial philosophies by Money Magazine, Kiplinger's, and author Suze Orman, and we were ranked the #1 career opportunity 2 years ago by BestJobsUSA.com. We have also been backed by financial analysts on MSNBC, and Merrill Lynch, one of our competitors, spoke highly of Primerica in a recent report.



I personally have never been able to wake up happy to go to work before I found Primerica. It is a very positive environment, and I love to bless families every single day in the area of their finances. I wish people didn't have bad experiences with the company, but I hope that they can understand that it really is a great opportunity, but it's not for everyone. I would like to add that it's not necessarily being lazy that keeps people from succeeding. There are some very educated and hard-working people with very prestigious degrees and resumes who don't survive in this business. It's all about vision. If what Primerica does for people is not your vision, that's fine because we are all unique. Nothing against the individual-- they simply have a different vision. I hope this helps some people to have a better understanding of this whole issue. I know that I can't help everyone understand because I can't do what God has called me to do and always be able to please everyone at the same time.
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#13 Consumer Suggestion

Hamburger University

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

Yesterday I went for an interview with Primerica. The second I walked into the office they were ready for the interview. I was told this was the first of three possible interviews. On the third they decide if you will be hired. I've heard this before. I'm ready to walk out. The interviewer is still talking I watch the pen follow the script. His body language hints disgruntled worker.



Their is a lack of interest in what he is doing. I wonder how many people he has interviewed today? He finishes the script and tells me they only accept people who are interested and motivated or something like that, "Does this sound like something you are interested in?" Hmmm, I don't recall him saying anything in regards to anything. All he did was show me a script with some information about loans. He does the Mcabe nod, so I give the confirming nod back like a true shmuck would. Great, a second interview tomorrow.



I show up since it is 5 minutes from my house. I've got another job so no worries. Perhaps I should have brought popcorn to this episode of the surreal world? Wouldn't you know it the parking lot is packed. There is a line of people from one end of the build to the other. Everyone is standing there while people walking back out are wearing name tags. One lady comments that at least she is walking the other way. I notice people are very talkative as if they know each other.



There are at least 100 people interviewing. I ask the person in front of me if we are all interviewing for the same position. Of course the Primerica positiong. But, what is that position. He doesn't know. I nod to the Primerica employees standing on both sides of the line. Turn around and walk out. I come home type Primerican in ripoffreport.com and what do I find...



Don't be a sucker. It is a pyramid scheme.
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#14 Consumer Comment

Primerica and the other MLM's donkeys

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

Since moving to the Atlanta area about a month ago, I have yet to find employment. I've submitted resumes online, gone to different companies and submitted my resumes and I've networked. So it seems that the only people calling are these MLM donkey companies that promise you the world. Well, I'm glad I've stumbled onto this website because it has become clear that I will not be pursuing this opportunity with Primerica. So thank you to those who suffered first hand the wrath of Primerica. You know, I just want to help people and make a decent living while I'm helping them. I'm seeking a change into sales after coming from a healthcare background as a counselor. So, I am very green when it comes to sales and all of this donkey-ism that comes along with "Hey, become a millionare and play golf all day but neglect to leave out the important details about the job"...



Thanks again and for some of you, if you are submitting a response, make sure you have a dictionary handy because some of you are looking like you have a 5th grade edumucation.......lol
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#15 Consumer Comment

Primerica's Cult-like Methodology - An Outsider's Perspective

AUTHOR: George - (Canada)

Let me start by saying that I worked in a professional office that was in operation 24 hours a day. I worked an evening shift, and the office directly below mine was.. A Primerica office/training place. Having to work above it was horrid, because when they had meetings there once or twice a week, about every 5 or so minutes, there would be thunderous applause. During their breaks many members would smoke (everyone seemed to smoke heavily during these) outside. I asked one of them what the big deal was, since our business dealt with heavy phone work and the applause was distracting. The fellow I spoke with told ne that every time a member had a big win or gain, they would applaud to encourage that person. Then he asked me if I would be interested in Primerica!



I've been aware of selling tactics that were called "cult-like" in the past, so I observed the folk from that office. When on their breaks, they could not talk about anything but Primerica, sales tactics and numbers and so forth. They tried to rope passers by into the fold of Primerica. From the nearby bus stop no less. I did more research. I found they have more in common with an actual cult than a business, pressuring members to reach for that next step up (even though they may never be able to achieve it), alienating people from friends and family by pressuring them to sell to these very people (sometimes Primerica agents will talk of nothing else, even outside the training office), seeding the belief that those who cannot see the "brilliance" of Primerica are "lazy", "underachievers" or "stupid" and that Primerica is THE way to financial freedom. Plus the notion that your upline is your (only) friend and confidante when it comes to all things Primerica (IOW, they don't want you talking to anyone who may point out the errors in Primerica tactics or practices)



The list goes on, but I started making comparisons, then the light went on and I had the *perfect* comparison to the indoctrination of Primerica agents and their attempts to get others to join their group.



When they say; "Have you ever heard of Primerica?"



I hear: "Have you ever heard of Scientology?"



That's all I needed to remember when I was approached very, VERY recently to attend the "free seminar", to run screaming in the other direction, clutching my wallet.
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#16 UPDATE EX-employee responds

Response to Graeme... Why am I being attacked?

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

Graeme,



Why am I being attacked? I think you REALLY misinterpreted what I said. I'm not defending Primerica. As a matter of fact, I just got my 200 bucks back this week. I just didn't understand why everyone was specifically targeting Primerica. You stated that when you spend 1K on floor mats at a car dealership that you still are getting floor mats (a product).



Well, with Primerica, you're still getting life insurance. It may be at different rates than other insurance companies but you're still getting insurance. So I don't see your point on that one. If I get a VISA card with a 12% APR and then I go to DISCOVER and they have an 8% APR, should I do a rip off report on Visa? All I was saying is that all companies make their money in overt ways as well as hidden ways that you have to look REALLY hard at to see.



As far as Primerica brainwashing people into believing they'll be rich, I have no sympathy for people that fall for it. If you are fool enough to quit a guaranteed job to join Primerica then your problems run deeper than you think. Nine times out of 10, the same people that fall for these schemes, have fallen for many others in the past and will continue to do so in the future. At some point we all have to take responsibility for the decisions that we make as adults. That is why I got my 200 bucks back and is no longer a part of Primera. And guess what, it didn't cost me my current job or six months of wasted time to do so.
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#17 Consumer Comment

tony, you don't see both sides

AUTHOR: Graeme - (Canada)

Deconstructing Tony's blatantly biased post is my mission here.



First of all, Tony mentions:

"What makes Primaerica so different from other reputable companies? They all ultimately have one thing in common, GETTING YOU TO SIGN ON THE LINE WHICH IS DOTTED AND MAKING THE SALE! Nothing else matters"



You just described Primerica tactics, which you claim they are not. Primerica spouts off wanting to "help people first," right? Before I was even given a chance to "help" someone, my sponsor wanted me to help him get a bigger commish check by signing me up. Before I was allowed to ask more than 2 questions, I was urged to fork over $250 (cdn) for their BS insurance course and licensing. Former victims know that Primerica's training is nothing more than watching their reps try to get naive, uninformed ppl to hand over thier money for "dreams of financial freedom." Let's not even get started about doing cold call sessions from an empty office using #67; call display blocking where I come from. How ethical can you be if you don't want your victim, er, customer to see whom is calling b4 they pick up the phone.



Also:



"How come you don't condemn the car dealeships that charge you 1000K just for floor mats "



Because, Tony, you are stil getting floormats. That is more than I can say for people who quit their real jobs/careers losing GUARANTEED income for the broken dreams Primerica offers of "early retirement" and "unlimited wealth." Remember the promise of the Tropical Vacation given at the 1st presentation? Has anyone here went on that vacation??? I'd love to see just ONE person testify to getting onto that vacation.



My opinion emotionally charged? Yes, to a certain degree. One can't help but get angry at themselves for falling victim to one of MLM's biggest Venus Fly Traps. That does not, however, take away from the real life experiences and TRUTHS that victims here want to convey.



BTW, how much financial freedom are you enjoying with Primerica? A yearly gross would be sufficient for all the readers here? Let us know when you've retired by 30.
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#18 UPDATE Employee

Seeing Both Sides

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

I've read all the defenses and complaints about Primerica and have come to only one conclusion. We live in a cynical dog-eat-dog world that is run by our desire for power and WEALTH. Both sides of the coin have intersting views, but they are all emotionally based. What makes Primaerica so different from other reputable companies? They all ultimately have one thing in common, GETTING YOU TO SIGN ON THE LINE WHICH IS DOTTED AND MAKING THE SALE! Nothing else matters. If you happen to help out a few people on the way, then it's a bonus. No one is in business to break even or lose money. You talk about ethics. How come you don't condemn the car dealeships that charge you 1000K just for floor mats that you could get at Wal-Mart for 39.99? What about the department stores that tell you that you can buy this 3000K washer and dryer set and only pay $25 a month? Unless you ask or have your magnifying glass handy, you won't know that along with that thrifty rate of $25 a month comes a 21% APR! Point is, whether it's Primerica and any other company that operates on sales, they are all here for one main reason...to make money! Not everyone is cut out for this business and they can't blame that on the sales pitch or method that a company decides to use. We all make decisions and do things in our everyday life that walk the fine line between legal/illegal and ethical / unethical. I say, as long as you are leaning toward the legal and ethical, then have at it. Nobody in a position of leadeship has gotten there without knowing how to sidestep a few landmines. I understand that this is an primarily emotinal opinionated forum so please don't take any of my comments as attacks. We are all competent adults (I think) capable of makeing decisions. Do your homework and take responsibilites for the decisions you make and stop blaming other people. Good luck!
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#19 Consumer Comment

Thanks to everybody for the input

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

I just want to thank all the people who did my research for me. I was contacted today,(by a family friend no less) about this great company he works for, and how they were looking for a few good people, would I be willing to check it out? I asked him what he did (I wasn't sure), and he said it would be easier to show me, but he did give me the name of the company.. dah dah dah Primerica. Obviously now I understand why I had to see it, so they could fill my head with fantasies of thousands of dollars.



Truth be told, I'm easily sucked in to things like this, who doesn't like the idea of retiring at 30? But the truth is just as everyone has said, there is no such thing as an easy buck, unless it's from a sucker such as myself!



Now that I've read all of these comments, I certainly do feel more informed about the kind of work that goes into all insurance sales,and to be honest, Primerica isn't that much worse than any other place, except for the sales pitch to get people involved. Primerica is only capitalizing on money that idiots everywhere would have spent on something else, can you blame them?
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#20 UPDATE Employee

Current recruit, wants out, how?

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

I was recruited last week to join PFS. I am supposed to have three consultations set up for 7/23 and attend the meeting on 7/22. After talking with friends and family and reading comments online, I have decided to not continue my work with PFS.



I realize that when I call and try to get my $199 back and quit they are going to try and pitch me again to keep me. I just can't believe I actually joined, I went to a meeting five years ago and went away thinking it was a joke. Their pitch is better now and I can see benefits for some people but I am not included. Alienation of my friends and family is not my goal.



Has anyone had any experience trying to do this?



What are the obstacles to getting it done?
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#21 Consumer Comment

In response to Rick

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

Rick,

First things first. While the FTC may state that the average rate of return is 1.3%, every company is different as well as several products within those companies having different rates of return. So that being said does the average mean anything. No. A consumer would be more interested in the rate of return with in the specified company in which they wish to do business. Whats Primerica's rate of return on whole life insurance? Oh thats right you don't sell whole life insurance.Just the most expensive term in the industry. How can you speak about a product you can't even sell?



On to the mutual funds, No Load, Front Load or Back Load. Would you be willing to tell your client why you would only sell them front load mutual funds. Isn't it because your commission is higher? How many sales do you think you would make if your clients had that information?



I have more integrity than you could ever wish for. I don't lie to my clients. I have consulted industry experts. I have an attorney friend with a degree from Harvard law who argues everyday with people like you that buy term and invest the difference crap is NOT always the answer. Every persons needs are different.



You only give your clients one option because its all you have. You give them nothing to compare it too. Face it Primerica gives insurance companies a bad name. Who's ripping off who? As far as my knowledge of finance being a 2 as you put it how long have you been doing this?
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#22 UPDATE Employee

Northwestern Mutual???

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

Give me a freaking break. You are obviously ignorant. I'd rather work for Snake Farm if I had my choice. The Federal Trade Commission says that the average rate of return in a whole life policy is 1.3%!!



How is that better than investing the difference? You could get better savings in a savings account. Why don't you read what experts outside of PFS say about cash value insurance. YOU WON'T FIND A THIRD PARTY PUBLICATION WHO SAYS THAT CASH VALUE IS BETTER THAN TERM. I wonder why insurance companies are the only people who say that term is bad and whole life is better?? They make a lot more by selling whole life than term--come on Beth, show some integrity.



There is no such thing as a no load mutual fund. Some say that they are but ALL mutual funds have fees.



On a scale from 1-10 I would say that you're are about a 2 when it comes to knowledge in finance. Get back on here when you're done doing some research.
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#23 Consumer Comment

Am Best Rated Company BS!!!!!

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

This is in response to Ryan in Okc Oklahoma. You are so brainwashed it is pathetic. Do you even have any idea how moronic you sound. You talk about the people who are bashing Primerica and how they need to do some research before speaking. You should do the same.



If you had then you would know that Northwestern Mutual has the following ratings:

AAA by Moody's Investor Services (17 consecutive years)

AAA by Standard & Poor's (17 consecutive years)

AAA by Fitch (13 consecutive years)

A++ by A.M. Best Company (27 consecutive years)

"Americ'a Most Admired" Fortune Magazine

"Best Sales Force" Sales & Marketing Management Magazine (8 consecutive years)

As far as you being "on track" to make 330K this year I ask, how many loaded mutual funds did you have to sell and how many whole life policies from legitimate companies have you replaced with your Term and invest the differnce moto.



Furthermore, please tell me how you are helping people by selling term and investing the difference? Explain how selling an insurance policy that expires and leaves the client with no protection helps them. Oh thats right you invest the difference! So what happens when the client loses their shirt with the loaded mutual funds you sell them and after the term insurance expires? What are they left with? NOTHING!!!! But you sure made alot of money doing it so who cares right? Well I would think that the people you ripped off will care. Please don't respond with you generic robotic answers either. Put you money where your mouth is. Prove it!!!!
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#24 Consumer Comment

Real Financial Advisors

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

Primerica says they provide a Financial Needs Analysis (FNA) leading consumers to believe that they are getting a financial plan. They also provide it for "FREE" leading consumers to believe that they are getting the advice of a financial advisor for free.



These acts are misleding due to several things. First, they're financial representatives are NOT licensed to give financial advice and charge for it. Their financial advice isn't worth anything because it's the same as getting free advice from your friend or co-worker. In order to provide advice and charge a fee you need an investment adviser license (Series 66).



Primerica reps only have a Series 6 (Mutual Funds) and a CA Life and Health License. They're philosophy of "buy term and invest the difference" works because they CAN'T provide Cash value life insurance because they are not licensed for it. They also can't make stock transactions or recommendations that requires a Series 7.



I'm a financial advisor and I had a client whom was dealing with a Primerica rep about insurance. I always look into various policies for my clients because it is my job to research and give recommendations. I spoke to the rep and they try to tell me that the term insurance never expired and that at the end of the 25 year term, my client can pay the same premium and just transfer to a lesser term insurance while maintaining the same coverage. (This is such BS) If you know anything about term insurance, then you know that terms means the premium jumps at the end of the term. If you were to transfer to a whole new policy (say they allow you to bypass underwriting) Just based on your age, your premiums would be higher for the same death benefit. He lied to me either on purpose or through inexperience. He faxed me the contract because I asked to see the proposal and sure enough it does not state what he promised.



My advice, check credentials. A true financial advisor isn't afraid to answer questions about credentials, discuss other options, as well as provide other resources. If you have an "advisor" that only gave you 1 choice and no options, then you don't have an advisor, you have a "SALESMAN".
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#25 Consumer Comment

Sales is Sales....ALL of the other companies are doing preety much the same thing...SELL, SELL and SELL AGAIN.

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

I've read all of the comments on this site concerning Primerica. I just recently spoke with a rep and am investicating Primerica now.

I've worked in Insurance and Mortgage sales for a few years now and would like to make the following comments.



1. Most sales people do not make a good living.

2. Speak with Farmers, or Allstate or any of the P& C Agencies and you'll find that you'll have to pay for all your licensing, which adds up to close to a $1,000, plus you have to buy your own phone lines, pay rent for your office space and buy furnitue, plus marketing.

3. Most agents make next to nothing thier first few years.

4. Maybe 5% of the people who get into this busness make-it;



The bottom line is picking on this company is not right when ALL of the other companies are doing preety much the same thing...SELL, SELL and SELL AGAIN.

Why not pick on MEGA or MIDWEST LIFE of TENNESEE who promise thier sales people with qualified leads and end up giving all the salespeople the same leads and recycled leads up to four years old? I'm sure every Salesperson could come up with tons of examples of how thier employers have wronged them.

Anyway Good Luck TO ALL
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#26 UPDATE EX-employee responds

Slow down and think!! I was not successful at Primerica because they mislead and misrepresent what they are doing

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

Justin

You are absolutely right in many of the things you say.



I've talked to many PFS people in Oklahoma and for some reason you guys in Oklahoma are just very closed minded and completely brainwashed.



There are many very good people that joined PFS to help people and build their own business. What they discovered is that the "truth" that Primerica told them is different than what the rest of the world calls "truth."



Why would you want to sell people the highest-priced term insurance when there are many companies out there with the same thing, including a "FNA" -- for much less? Maybe you got them insurance that they didn't have before but you certainly were not doing the best that could be done for them!



Why on earth would you get anyone involved in one of their mortgages when any independent mortgage broker will tell you the SMART loans are some the worst mortgages out there?



Primerica claims that "EVERY" other insurance company out there is ripping people off and is dishonest. Are there some bad companies - definitely!!! But not every single one. There are many good companies.



I was with Primerica, I held up a mirror and looked and the reason I was not successful there was not because I didn't work or do as I was told. That's what I thought when I first left because I was told I was a loser. I was not successful at Primerica because they mislead and misrepresent what they are doing and I could not lie to my clients!!!!!



I am still in the industry making $3,000 to $4,000 a week now doing what's right for my client's 100% of the time because I now have products that will do that 100% of the time not just once in a while. I'm very grateful to Primerica for getting me in the financial services field. I don't blame Primerica for anything but there sure are a lot of people there that mislead and misrepresent what is possible and what is being done.



Let me know when you and your team have recruited between 3,000 and 5,000 people to get 1 or 2 RVPs that have ownership. You do realize it's a numbers game because the numbers are the numbers? I'd also like to know how the 3,000 to 5,000 that didn't get ownership feel about how they were recruited and treated while they were at Primerica!!!
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#27 UPDATE Employee

Man you guys know everything

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

Where does one begin. First, lets get some common sense business knowledge down: EVERY financial services firm, insurance company, investment firm, mortgage company, etc etc recruits. Research that all day long. Check the State Farm, Edward Jones, All State, AG Edwards websites--they have "meetings", "recruiting seminars" specific people who "recruit" (HR departments)---must be a "MLM" or "pyramid". Some do it on a larger scale than others, some have different methods. Hands down, we recruit more in one month than the entire industry recruits in a year. Edward Jones recruits 200 a month across the company. Why only 200 a month you ask--because their market is the top 2% income bracket, you can only have so many edward jones investment reps soliticing that market. 85% of the contry can benefit from what we do. How can you reach that many people as fast as possible? You explode distribution (recruit).



Second, if any normal person had to choose between some financial product that will get them to financial independance in 30yrs or working with us and getting there in 5yrs--what makes sense? We promote the best financial products bar none, research that all day long, we don't compete with the industry anymore, haven't for 20 yrs. We simply offer the best opportunity in the world. If you question that, give me a SPECIFIC example of a better one.



Third, most don't make the big bucks here. How many people make over $100K in this country--around 2%. How many people make over $100K in Primerica--2%. How many people make it to the major leagues that played t-ball when they were 5--2% How many people consider themselves Christians where were actually in church last Sunday--less than 10%. Hmm, I guess that means it's not Primerica, it must mean people are people.



If you give PFS a shot and decide it's not for you, at least you tried, you probably learned a ton. Primerica works 100% of the time, people just don't work.



If you "tried" Primerica and you didn't work and you quit the business and you are bitter--hold the dad gum mirror up and you're looking at 100% of the reason why, it's nobody's fault but yours. Take some freaking resposibility for where you are in life and stop blaming people and things, grow up.
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#28 Consumer Comment

Gee, sure sounds like my expereince, not a company I shall recommend to my friends. Poor service, rates higher than others for insurance

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

I was "recrutied" several times before attending a meeting. I had invested with the company and was in the process of changing my term policy to them. Following the meeting, when my recruiter/representative was questioned about contacts and where they were generated from I was told they had to come from me. As I am in a profesion where I felt that would create a conflict of interest for me, I declined to go further in the recruitment process. I was still asked for my 6 referrals though.



After 30 days, I inquired about where my insurance was in the underwriting process, since I had completed my physical. I was told that my medical records had just been requested (after 30 days of the company having my deposit, which isn't gonna pay me any interst if I don't take the policy.) I waited another 30 days before calling again.



When i was told things were status quo, I informed the office secretary that I wanted to cnacel the process. She informed me that I would have to talk to my rep. I heard from him shortly after, fro the first time in almost two months. When I informed him i wanted to cancel, he bwecame defensive, trying to remind my why I wanted the policy in the first place, like I didn't know, and that I was getting "free coverage" and the longer the free coverage, the better. I informed him, being the retired military person I am, that 60 days and no info fromt he company as to where I was and requesting medical info after having my money for 30 were not acceptable, He asked me how I knoew when my records were asked for, to which I repleid, it doesn't matter how I know, I know. He became deffensive once again and asked what he had to do to get me to keep on with the process. I gave him 30 days to have the policy in my hands at the prime insurance rate, since I had worked hard to emet the company height/weight criteria, or he could refund my money.



I am now waiting for the proceeds from my mutual fund account, which has made me about 5% this past year, when others I have have do over 30%. I will be anxious to see how long this one stalls on for, you kow, need a signature guarantee, or something else.



Bottom line, not a company I shall recommend to my friends. Poor service, rates higher than others for insurance. You be the judge.
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#29 UPDATE Employee

Wake up and move your butt... Not bad -for a "cult".

AUTHOR: Ron - (Canada)

I have to say, I have recently teamed up with Primerica here in Canada and to say the least, I am totasllt amazed about the B.S. I have read in this column. First off maybe it would be nice to have people that can spell, or at least use spell check, prior to putting forth their"views".



Secondly to call them a cult is outright crap. I have not heard once...go to church or join a group like that, maybe this person is a loner and they were trying to get them to mingle with people to help their business, who knows.



Thirdly, yeah they do encourage you to sell and recruit, hell how else do you make money, Have you gone to buy a car or anything else lately? and last but the best, they showed me the lies that my so-called church friend told me to buy whole life insurance, it was amazing, I am not trying to justify my joining up by any means, but facts are facts.



I had not heard hide nor hair from my agent other than INCREASING MY PREMIUMS AND TELLING ME IN A LETTER THAT THEY LOST $1300 OF MY CHILDREN"S EDUCATION MONEY THROUGH VERY POOR INVESTING! That is until I sent in my disclosure and wanted to leave the policy, then I have not been able to get rid of him, money from his pocket, that's why he is "concerned"..Think twice before you knock something, they have saved me over $400 a month in premiums, plus joining up, that $200, saves me $3,000 in tax refunds. Not bad I say for a "cult".
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#30 UPDATE Employee

Response to Duane - Only a fool would think that multi-billion dollar corporations would support unethical behavior

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

Thank you for letting us know that Primerica is an affiliate of Citigroup, Duane. Only a fool would think that multi-billion dollar corporations would support unethical behavior. My life will surely improve now that all this time I spent railing against PFS can be applied to more fruitful "opportunities." Failure no more!



Get real man. You know that little brochure that told you about how everyone who disagrees with you is either jealous or a failure? Well it lied to you. And here's something it didn't tell you: if you want people to give your comments any credence, you shouldn't "delegitimize" yourself. Dumb comments like "The people that put this company down are either jealous of someone they know in the company, or failed because they put more effort into typing remarks like this one than into their business!" just make you look like an idiot.



You want to talk about the Citigroup affiliation? How about this: Citigroup is also affiliated with Smith Barney. In general, Primerica serves the clients who don't have the kind of cash for Smith Barney. Smith Barney advertises that they only take on one out of every seven candidates, and that each advisor has several years of experience in the field. Primerica, on the other hand, takes virtually everybody who applies, regardless of their level of experience. Does this mean that, according to Citigroup, the money of the wealthy demands more expertise? Sure it does. Is that ethical? Nope. Does it make good business sense? You bet.



Primerica brings in lots of dough, ethically or not. Just because a company is large and successful doesn't mean that it doesn't continually antagonize people. To suggest otherwise is highly naive, as is your lack of critical analysis into this shaky opportunity.



Like Anthony said, check back with us in a year. I'll be here, will you?
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#31 Consumer Comment

Let us know how you're doing in a year

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

Duane,



Let us know how you're doing in a year.



It's funny; every time that challenge has been issued and accepted, the PFS recruit NEVER comes back. Because the attrition rate is over 100% at PFS, odds are overwhelming that they will quit without having ever made a cent. Not one penny. And they're too embarrassed to come back with their tail between their legs, angry that they fell for the MLM hype.



So, really Duane, come back in a year and let us know how PFS is for you, OK?
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#32 UPDATE Employee

CitiGroup Says it all

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

Primerica Works for Citi Group... That should tell you that they are not a scam. If you want non bias information, go to www.hoovers.com and search for "Primerica" it will tell you what we do, and that we are a subsidiary of CitiGroup.



The people that put this company down are either jealous of someone they know in the company, or failed because they put more effort into typing remarks like this one than into their business!



Primerica only works if you do. Just Like Life.



Everything else is just a lie.
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#33 Consumer Comment

Join Primerica... check you logic at the door

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

Great comments Trevor -



I hope prospective candidates will take your advice before they join; but it's a 50/50 shot at best. I suppose if one person listens and doesn't join it's worth your effort.



I've read a great deal about the cult-like behavior of Primerica reps and have also studied MLMs and have yet to hear one true explanation of why this behavior occurs. But it is fascinating.



Having been in insurance for more than a decade, know this:



It is NOT normal, logical, rational or even financially beneficial to ever, ever "recruit" a client to whom you're selling insurance. Especially, ESPECIALLY when you've just begun selling insurance yourself. It's irresponsible, has nothing to do with providing insurance, and borders on immorality.



It's a method used solely to create a downline and does not consider supply and demand or market saturation, and has absolutely nothing to do with selling insurance.



Think about it, if all insurance agents tried to recruit all their clients - there would be no clients and certainly no referrals - everyone would be selling insurance. And that's precisely what Primerica wants their agents to do - but it makes no sense, because once you've "recruited" your client and they're now an agent, then who do you have to sell additional product to? No one - you "recruited" your client and took them out of the market.



But it's okay for Primerica because they wrote a new policy, got another agent, and collected $199.



And this is where it gets really tricky, because Primerica will tell you "overrides!" But use your logic. A new insurance agent cannot exist on overrides, they're miniscule and it takes years and years to build them up - you need referrals to succeed, but you can't get referrals from your new "client" because once again, your "client" is now an agent and has no interest in referring anyone to you - why would they?



Your new "client/agent" who might have referred two or three people, now sells one of those people and recruits the client. Another policy for Primerica and another $199, another client and all his referrals taken out of the market, but you got an override! Woohoo - not - the client paid monthly, so your take... $1.99.



Primerica's take... another policy, another "agent" and another $199. What a great deal for Primerica to pay you $1.99 for all that work.



With Primerica's system, biggest market you have for new business (referrals) is taken out of the loop. So no referrals for YOU my friend.



As you, the new agent can see - there's a great benefit to this system, but it benefits Primerica, not you.



Overrides are for brokers, not green agents. Ask any agent who works for a company OTHER THAN Primerica - they will tell you the same thing.



So, if you're considering Primerica, consider this...



If you wanted to sell your house, but every time you met with your realtor they talked more about becoming a realtor than selling your house, would you use that realtor?



If every time you went into a 7-11 to get a slurpy they tried to get you behind the register, would you keep going to that 7-11?



If every time you went to McDonalds for a $.99 hamburger they tried to get you to buy a franchise, would you go back?



No, no and no. And that's how your "clients" will feel.



That's precisely the problem with Primerica. If you want to sell insurance (and it is a lucrative field for some) position yourself with a company that will actually let you do your job - sell insurance.



Do your due diligence, talk to other companies. If you talk to only ONE other company, you will likely see the light.



The only people who benefit from a "recruit everyone you know" policy are the ones at the top. Hmmm, beginning to sound an awful lot like an MLM isn't it.



The first rule of selling insurance is "do what's right for the client." "Recruiting" the client is NOT what's right for the client - OR for the agent. You end up with a pissed-off client or a new agent under you - either way you lose. No referrals either way.



So, if you're considering a career in insurance and you consider yourself to be intelligent, moral and ethical, and Primerica calls (including your agent)... hang up.
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#34 Consumer Comment

Join Primerica... check you logic at the door

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

Great comments Trevor -



I hope prospective candidates will take your advice before they join; but it's a 50/50 shot at best. I suppose if one person listens and doesn't join it's worth your effort.



I've read a great deal about the cult-like behavior of Primerica reps and have also studied MLMs and have yet to hear one true explanation of why this behavior occurs. But it is fascinating.



Having been in insurance for more than a decade, know this:



It is NOT normal, logical, rational or even financially beneficial to ever, ever "recruit" a client to whom you're selling insurance. Especially, ESPECIALLY when you've just begun selling insurance yourself. It's irresponsible, has nothing to do with providing insurance, and borders on immorality.



It's a method used solely to create a downline and does not consider supply and demand or market saturation, and has absolutely nothing to do with selling insurance.



Think about it, if all insurance agents tried to recruit all their clients - there would be no clients and certainly no referrals - everyone would be selling insurance. And that's precisely what Primerica wants their agents to do - but it makes no sense, because once you've "recruited" your client and they're now an agent, then who do you have to sell additional product to? No one - you "recruited" your client and took them out of the market.



But it's okay for Primerica because they wrote a new policy, got another agent, and collected $199.



And this is where it gets really tricky, because Primerica will tell you "overrides!" But use your logic. A new insurance agent cannot exist on overrides, they're miniscule and it takes years and years to build them up - you need referrals to succeed, but you can't get referrals from your new "client" because once again, your "client" is now an agent and has no interest in referring anyone to you - why would they?



Your new "client/agent" who might have referred two or three people, now sells one of those people and recruits the client. Another policy for Primerica and another $199, another client and all his referrals taken out of the market, but you got an override! Woohoo - not - the client paid monthly, so your take... $1.99.



Primerica's take... another policy, another "agent" and another $199. What a great deal for Primerica to pay you $1.99 for all that work.



With Primerica's system, biggest market you have for new business (referrals) is taken out of the loop. So no referrals for YOU my friend.



As you, the new agent can see - there's a great benefit to this system, but it benefits Primerica, not you.



Overrides are for brokers, not green agents. Ask any agent who works for a company OTHER THAN Primerica - they will tell you the same thing.



So, if you're considering Primerica, consider this...



If you wanted to sell your house, but every time you met with your realtor they talked more about becoming a realtor than selling your house, would you use that realtor?



If every time you went into a 7-11 to get a slurpy they tried to get you behind the register, would you keep going to that 7-11?



If every time you went to McDonalds for a $.99 hamburger they tried to get you to buy a franchise, would you go back?



No, no and no. And that's how your "clients" will feel.



That's precisely the problem with Primerica. If you want to sell insurance (and it is a lucrative field for some) position yourself with a company that will actually let you do your job - sell insurance.



Do your due diligence, talk to other companies. If you talk to only ONE other company, you will likely see the light.



The only people who benefit from a "recruit everyone you know" policy are the ones at the top. Hmmm, beginning to sound an awful lot like an MLM isn't it.



The first rule of selling insurance is "do what's right for the client." "Recruiting" the client is NOT what's right for the client - OR for the agent. You end up with a pissed-off client or a new agent under you - either way you lose. No referrals either way.



So, if you're considering a career in insurance and you consider yourself to be intelligent, moral and ethical, and Primerica calls (including your agent)... hang up.
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#35 Consumer Comment

Join Primerica... check you logic at the door

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

Great comments Trevor -



I hope prospective candidates will take your advice before they join; but it's a 50/50 shot at best. I suppose if one person listens and doesn't join it's worth your effort.



I've read a great deal about the cult-like behavior of Primerica reps and have also studied MLMs and have yet to hear one true explanation of why this behavior occurs. But it is fascinating.



Having been in insurance for more than a decade, know this:



It is NOT normal, logical, rational or even financially beneficial to ever, ever "recruit" a client to whom you're selling insurance. Especially, ESPECIALLY when you've just begun selling insurance yourself. It's irresponsible, has nothing to do with providing insurance, and borders on immorality.



It's a method used solely to create a downline and does not consider supply and demand or market saturation, and has absolutely nothing to do with selling insurance.



Think about it, if all insurance agents tried to recruit all their clients - there would be no clients and certainly no referrals - everyone would be selling insurance. And that's precisely what Primerica wants their agents to do - but it makes no sense, because once you've "recruited" your client and they're now an agent, then who do you have to sell additional product to? No one - you "recruited" your client and took them out of the market.



But it's okay for Primerica because they wrote a new policy, got another agent, and collected $199.



And this is where it gets really tricky, because Primerica will tell you "overrides!" But use your logic. A new insurance agent cannot exist on overrides, they're miniscule and it takes years and years to build them up - you need referrals to succeed, but you can't get referrals from your new "client" because once again, your "client" is now an agent and has no interest in referring anyone to you - why would they?



Your new "client/agent" who might have referred two or three people, now sells one of those people and recruits the client. Another policy for Primerica and another $199, another client and all his referrals taken out of the market, but you got an override! Woohoo - not - the client paid monthly, so your take... $1.99.



Primerica's take... another policy, another "agent" and another $199. What a great deal for Primerica to pay you $1.99 for all that work.



With Primerica's system, biggest market you have for new business (referrals) is taken out of the loop. So no referrals for YOU my friend.



As you, the new agent can see - there's a great benefit to this system, but it benefits Primerica, not you.



Overrides are for brokers, not green agents. Ask any agent who works for a company OTHER THAN Primerica - they will tell you the same thing.



So, if you're considering Primerica, consider this...



If you wanted to sell your house, but every time you met with your realtor they talked more about becoming a realtor than selling your house, would you use that realtor?



If every time you went into a 7-11 to get a slurpy they tried to get you behind the register, would you keep going to that 7-11?



If every time you went to McDonalds for a $.99 hamburger they tried to get you to buy a franchise, would you go back?



No, no and no. And that's how your "clients" will feel.



That's precisely the problem with Primerica. If you want to sell insurance (and it is a lucrative field for some) position yourself with a company that will actually let you do your job - sell insurance.



Do your due diligence, talk to other companies. If you talk to only ONE other company, you will likely see the light.



The only people who benefit from a "recruit everyone you know" policy are the ones at the top. Hmmm, beginning to sound an awful lot like an MLM isn't it.



The first rule of selling insurance is "do what's right for the client." "Recruiting" the client is NOT what's right for the client - OR for the agent. You end up with a pissed-off client or a new agent under you - either way you lose. No referrals either way.



So, if you're considering a career in insurance and you consider yourself to be intelligent, moral and ethical, and Primerica calls (including your agent)... hang up.
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#36 UPDATE EX-employee responds

Primerica Stole 3 Years of my Life

AUTHOR: Trevor - (Canada)

I am writing this only to hopefully help the new recruits who may be thinking of joining Primerica. I know from experience that if you are new and looking into the Primerica opportunity that you most likely are doing what I did and you are trying to research it as much as possible. Please listen to me when I say that you need to listen to all the negative advice that all these people have written on this website. Yes your RVP or upline is going to tell you that alot of these people are those who possibly work for other insurance companies and hate Primerica, or those who tried Primerica and failed at it and now are sour about it. This is true but also realize there are those who are only sharing their honest opinion and want to help others from making the same mistakes they made such as myself.



I have not been working for Primerica for almost two years now and this is the first time since then that I have ever expressed my experience for all others to hear. Why I didn't share my thoughts and experience sooner had to do at first with how much hatred and bitterness I had towards Primerica when I finally made the decision to quit the business. Now that I have had time and calmed down after my time with Primerica I feel and I can share my experience honestly.



I was with Primerica for three years. I was recruited approx. of March 2000. My wife and I got a phone call one day from someone who said they had sat down with my wife's cousin and was able to really help them out and that they wanted us to hear what she had to say. To make a long story short she came over and a couple appointments later we had our FNA done and were insurance clients. I was extremely excited what the company had done for us from the financial side of things considering my wife and I had no clue what we were doing with our money. At the time she invited us to the office to see a financial seminar to learn more but I never went. When our policy came in and it was time for her to come over to our home to deliver it she brought over her RVP who's sole purpose was there to recruit me. He stroked my ego real nice and told me I would be perfect for this business and that I should really come and check out the career aspect of Primerica. I hated my job and the money I was making I thought wasn't that great so I thought why not go and check it out. Well wouldn't you know it that December 31 of 2000 I quit my job and I came full time with Primerica. What a mistake!!



First of all let me tell you that I was for one lied to by my RVP when he told me that I could not obtain my life insurance licence (that I had passed two months before.) until I became full time. What I found out later was that the laws had actually changed of November 2000 when you could carry a life insurance licence on a part time basis. SO I went a couple of months where I could of have had my licence and been making money part time and not have had to been forced to quit my job.



So after coming full time let me explain that I actual did have some success with the company. I won awards, I spoke at big recruiting events, I won a few little trips (one on a houseboat and one to Toronto to be a part of a leadership conference). I did very well at recruiting others and eventually got very good at developing clients and selling Primerica's products. The only thing is the money was not there. My first year I made a whopping $4000 after quiting a $25,000 a year salary position with my former company. Having two children and a mortgage I had to rely on credit cards as my supplemental income. Please understand that I do not regret my experience with Primerica, I learned a ton and feel much better about my self after taking on the self improvement development that the company so preaches to instill in your daily life.



But along with that knowledge and experience and self improvement also came approx. $10,000 of credit card debt and a second mortgage added on to my home. So even though I felt great because of the self improvement the stress on the financial side was extreme.



Please realize that these decisions were not made on my own. I looked to my RVP as my mentor and trusted everything he told to do to help me grow my business which was supposed to help me reach my goals and dreams. When things were tight financially there were numerous times that I sat in my RVP's office and asked for advice and was told that short term debt would not be an issue when I would be RVP someday and making a $100K a year.



To summarize what to expect or to realize some of the things that will happen to you if you still decide to join Primerica I will write in point form.



-Expect to have to recruit your wife and all your friends and family. And those who do not come on board with you either as a recruit or a client you will be told to avoid because they are negative.



-To go trips every month or two on your own dime and if you don't go they will make you feel like your going to be so far behind everyone else.



-You will be told that if your not making money your not a hard worker.



-At first expect to hear everything you want to hear so that they know you will put your IBA $199 in.



-Expect that if your RVP is not leading by example on the scoreboard in terms of how many insurance cases he/she has sold he/she will steal your new recruits and sell through their warm market even if you were the one who put all the work into recruiting them and you are classified as a field trainer.



I could go on but I would be writing for ever. Maybe your reading this and wondering why did you go through this experience for three years. Lots of reasons, I had a team of recruits that looked to me for leadership and I thought they were my friends as well. I was already in so much debt that I thought I had no other options but to become a RVP or die trying and I was going to take down whoever with me. And lastly I didn't want my wife to think I was a failure or a quiter.



Primerica will tell you that you will make what your worth. So if your new and only making $100 a month or whatever they will tell you thats all your worth and that you need to get better. Well three years later and after countless hours of self improvement, going to seminars around North America, taking sales courses, being 100% coachable to what my RVP was telling me to do I was still only making $3000/year and he's telling me that that is all that I was worth. I don't think so. I worked my butt off prospecting and training other representatives and I know that I was worth a whole lot more.



Post Primerica life is great, the reason I say I don't regret the experience is because now I know what is really important in life. Making $100K a year is nice but not important. Family is important. My children having food in the house is important, having heat in the house is important, being positive is important. Being there at bedtime to read my kids a story is important. Not feeling guilty to take a day off, is important. Not having to feel ashamed at Christmas dinners because my family are not clients with Primerica is important. Making Primerica your lifestlye and that is all they want you to eat, sleep, walk and talk about, that is not important. And guess what happened to all those friends that I thought I had with Primerica. I haven't heard from one of them in over a year. I actually tried to contact one of the couples that I recruited not long after I quit and I new they were having a baby and all that, she actually said to me "you know how it is, were not supposed to hang around with negative people."



So when this website is telling you that you will be brainwashed, that it is a MLM scam, that it is a cult and you should run away, I hope you listen to me and all those others and do it. Run Away and I hope you can run fast.
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#37 Consumer Comment

the differences are little, find another agent, either with PFS or any other financial planning company out there

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

I have looked at, interviewed, and been offered jobs with several financial services including primerica. I am not an employee of any yet. I will tell you that my training in fincances consists of business manegement drop out and six years of electrical labor. That is what my resume said when posted to an emolyment web site. I was contacted by primerica, edward jones, american express finacial services, securian financial services, farm bureau financial services, and american family insurance.

I have interviwed with all extensively for the last two months. They all basically offer the same thing: six figure income, the best training program in the country and the opportunity to be your own boss. However, only Primerica seems to be picked on everywhere you look. The difference I have found is this. Primerica will offer a job to anybody (if you have read this thourghly you will see they all offer a job to anybody because I am anybody) who wants one. Primerica will let you start part time ( three out of the six offered to let me start part time, including primerica) to build your business. I could go on and on.

Basically you can get started in this career anywhere because financial services are based on nothing more than helping people and SALES,SALES,SALES AND MORE SALES!!!



Every fincacial advisor is compensated by either fees or commissions, every financial institute is going to be or has been invetigated for something ( Met-Life is the latest)

The only difference between primerica and all these others, is thier reputation for being a MLM and the result of that being a very poor screening process for employees.

I hope this was somewhat educational. Again I don't yet work for any of the above mentioned conpanys yet.



My advice is this, if you are here because your PFS agent couldn't or didn't help you; find another agent, either with PFS or any other financial planning company out there. If you are here because you didn't get what you expected as a PFS agent apply somewhere else. Chances are they will talk to you, and if they think you can sell they will train you in financial planning.

Do your home work. Nothing is free and nothing is easy.

Thank you for your time.
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#38 Consumer Comment

the differences are little, find another agent, either with PFS or any other financial planning company out there

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

I have looked at, interviewed, and been offered jobs with several financial services including primerica. I am not an employee of any yet. I will tell you that my training in fincances consists of business manegement drop out and six years of electrical labor. That is what my resume said when posted to an emolyment web site. I was contacted by primerica, edward jones, american express finacial services, securian financial services, farm bureau financial services, and american family insurance.

I have interviwed with all extensively for the last two months. They all basically offer the same thing: six figure income, the best training program in the country and the opportunity to be your own boss. However, only Primerica seems to be picked on everywhere you look. The difference I have found is this. Primerica will offer a job to anybody (if you have read this thourghly you will see they all offer a job to anybody because I am anybody) who wants one. Primerica will let you start part time ( three out of the six offered to let me start part time, including primerica) to build your business. I could go on and on.

Basically you can get started in this career anywhere because financial services are based on nothing more than helping people and SALES,SALES,SALES AND MORE SALES!!!



Every fincacial advisor is compensated by either fees or commissions, every financial institute is going to be or has been invetigated for something ( Met-Life is the latest)

The only difference between primerica and all these others, is thier reputation for being a MLM and the result of that being a very poor screening process for employees.

I hope this was somewhat educational. Again I don't yet work for any of the above mentioned conpanys yet.



My advice is this, if you are here because your PFS agent couldn't or didn't help you; find another agent, either with PFS or any other financial planning company out there. If you are here because you didn't get what you expected as a PFS agent apply somewhere else. Chances are they will talk to you, and if they think you can sell they will train you in financial planning.

Do your home work. Nothing is free and nothing is easy.

Thank you for your time.
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#39 Consumer Comment

the differences are little, find another agent, either with PFS or any other financial planning company out there

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

I have looked at, interviewed, and been offered jobs with several financial services including primerica. I am not an employee of any yet. I will tell you that my training in fincances consists of business manegement drop out and six years of electrical labor. That is what my resume said when posted to an emolyment web site. I was contacted by primerica, edward jones, american express finacial services, securian financial services, farm bureau financial services, and american family insurance.

I have interviwed with all extensively for the last two months. They all basically offer the same thing: six figure income, the best training program in the country and the opportunity to be your own boss. However, only Primerica seems to be picked on everywhere you look. The difference I have found is this. Primerica will offer a job to anybody (if you have read this thourghly you will see they all offer a job to anybody because I am anybody) who wants one. Primerica will let you start part time ( three out of the six offered to let me start part time, including primerica) to build your business. I could go on and on.

Basically you can get started in this career anywhere because financial services are based on nothing more than helping people and SALES,SALES,SALES AND MORE SALES!!!



Every fincacial advisor is compensated by either fees or commissions, every financial institute is going to be or has been invetigated for something ( Met-Life is the latest)

The only difference between primerica and all these others, is thier reputation for being a MLM and the result of that being a very poor screening process for employees.

I hope this was somewhat educational. Again I don't yet work for any of the above mentioned conpanys yet.



My advice is this, if you are here because your PFS agent couldn't or didn't help you; find another agent, either with PFS or any other financial planning company out there. If you are here because you didn't get what you expected as a PFS agent apply somewhere else. Chances are they will talk to you, and if they think you can sell they will train you in financial planning.

Do your home work. Nothing is free and nothing is easy.

Thank you for your time.
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#40 Consumer Comment

the differences are little, find another agent, either with PFS or any other financial planning company out there

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

I have looked at, interviewed, and been offered jobs with several financial services including primerica. I am not an employee of any yet. I will tell you that my training in fincances consists of business manegement drop out and six years of electrical labor. That is what my resume said when posted to an emolyment web site. I was contacted by primerica, edward jones, american express finacial services, securian financial services, farm bureau financial services, and american family insurance.

I have interviwed with all extensively for the last two months. They all basically offer the same thing: six figure income, the best training program in the country and the opportunity to be your own boss. However, only Primerica seems to be picked on everywhere you look. The difference I have found is this. Primerica will offer a job to anybody (if you have read this thourghly you will see they all offer a job to anybody because I am anybody) who wants one. Primerica will let you start part time ( three out of the six offered to let me start part time, including primerica) to build your business. I could go on and on.

Basically you can get started in this career anywhere because financial services are based on nothing more than helping people and SALES,SALES,SALES AND MORE SALES!!!



Every fincacial advisor is compensated by either fees or commissions, every financial institute is going to be or has been invetigated for something ( Met-Life is the latest)

The only difference between primerica and all these others, is thier reputation for being a MLM and the result of that being a very poor screening process for employees.

I hope this was somewhat educational. Again I don't yet work for any of the above mentioned conpanys yet.



My advice is this, if you are here because your PFS agent couldn't or didn't help you; find another agent, either with PFS or any other financial planning company out there. If you are here because you didn't get what you expected as a PFS agent apply somewhere else. Chances are they will talk to you, and if they think you can sell they will train you in financial planning.

Do your home work. Nothing is free and nothing is easy.

Thank you for your time.
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#41 Consumer Comment

Does PFC bring value to clients?

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

Wow! That's my reaction to the long list of comments and condemnations regarding PFC. I am an advisor in San Diego for a large financial services firm. Before I started with this company, I interviewed many of the agencies in town to find out more about their character, mission, compensation, etc. The most important concept I've learned about the insurance/investment industry is that you have to right thing for the client and bring value to the table. Sometimes that means a whole life policy, a college savings plan, long-term care coverage and so on. As long as what you do is a reflection of the clients goals, a product is vehicle to get them there.



As for Ryan -- good luck with PFC. You have to be one the most uninformed people on this thread. You have no idea what you're talking about. While you blaze your trails into the future, recruiting any moron who will listen, the talented few who take pride in this profession, will be content earning our money helping people.
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#42 UPDATE EX-employee responds

how do i get my 199.00 back??? nothing but a scam so i quit!

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

I paid primerica $199.00 and then discovered that it was nothing but a scam so i quit! however i did pay them 199.00 by my credit card that has not been charged yet but they claim it will! how do i stop this charge? im no longer interested so why should my application be processed??? and what company is processing these applications?
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#43 Consumer Suggestion

Can you provide more detail? Also, a financial plan

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

Ben,



You are correct in that a lot of people tend to post emotional opinions either "for" or "against" Primerica. I wouldn't necessarily label them as "useless", just emotional.



You obviously feel good about your experience with Primerica in that you stated that you have saved $60,000. Can you provide more detail? Was it a savings realized from switching insurance policies? Refinancing a mortgage? If you could explain in more detail how Primerica's services and products helped you save that enormous amount of money, I'm sure you could sway some people's opinions. However, just stating "I saved $60,000" might ring hollow with people and perhaps sound phony.



As for your request for someone else to come up with a financial plan, I have one that is applicable for nearly everybody. Credit goes to Scott Adams, creator of "Dilbert":



1. Make a will.



2. Pay off your credit cards.



3. Get term life insurance if you have a family to support.



4. Fund your 401(k) to the maximum.



5. Fund your IRA to the maximum.



6. Buy a house if you want to live in a house and can afford it.



7. Put six months expenses in a money market account.



8. Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement.



9. If any of this confuses you, or you have something special going on (retirement, college planning, a tax issue), hire a fee-based financial planner, not one who charges a percentage of your portfolio.
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#44 UPDATE Employee

It works for me and my friends!!

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

Hello all,



I've never read so many useless opinions!! :)



My wife and I have been happily involved in Primerica for 14 months. We have 6 Certified Public Accountants (CPA's) and several MBAs, and people with Masters degrees on our team. I don't think we're a bunch of incompetent people.



We don't need Primerica. Several of us already make six figures in our careers. We want Primerica. It's a vehicle that may provide us the opportunity to do something really big.



We see this as a good service and opportunity for middle Americans. We've helped out many families with their debt, insurance, and investments.



This is a good, legitimate company for middle Americans. Can you guys provide me a written financial plan? I saved over a mere $60,000 (just by doing investsments) in the last 12 months just following a simple solution. This "brainwashing" is good for my bottom line. Woohoo!! I'm $60,000 richer! :)



What can you provide besides complaints and whine? For all the complainers and whiners - how much money did you save and how many families have you helped?
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#45 Consumer Comment

Significan others beware ..My girlfriend joined this highly unethical company.

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

They actually have a night where the agents are "encouraged" to bring their significant other (spouse, boyfriend/girlfriend). She took me. They called the significant others "partners". They basically told us that if we "loved" our partners, we would join them in selling insurance. Primarica is such a hard job, they argued, a person needs all the support they can get. They defined support as joining Primierica. They had couples go up on stage and give testimonials. One woman, "It was so hard until my partner joined me. I love him so much". Another one said "There was no possible way for him to understand what I was going through. It was so frustrating. Now that he's in Primarica he understand what I'm going through. It has brought us closer together". All of the RVP's in the branch had their significan others working at Primerica. There was obvious implication that if you don't join, you must not care about your significant other. In my opinion, this is a divisive, underhanded, unethical recruiting tactic.



We had a big discussion on the way home. I was very curious as to why love had come to be defined as adopting your significant other's profession.



So, if you're going to join Primerica, make sure your significant other doesn't have any professional hopes and dreams of their own so that they can join you in selling insurance. Otherwise, your relationship will have problems.



Thank you for your time.
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#46 Consumer Comment

If you want to go into financial planning, at least TRY to find a small stable independent firm that will take you in

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

I stumbled across this arena and have found it intensely interesting. With a lot of well thought out opinions and some decent research it is a lively debate.



Having previously been the V.P. of Marketing for a small, independent and successful insurance and financial planning firm, I would give new recruits this suggestion: If you want to go into financial planning, at least TRY to find a small stable independent firm that will take you in, help you get licensed if necessary and will actually train and help educate you in the field.



We hired a lot of ex Met Life, Primerica, etc. agents who had been unsuccessful with the big boys (guess they didn't like cold calling from the phone book), and they did quite well with us. We had a decent VARIETY of products, a strong marketing plan (mine of course!), ETHICS and we provided them with QUALIFIED leads.



When going into any new field, you need to find a mentor who is successful and will help bring you along. Solid, successful people often want to share their wealth of knowledge and skill. It will pay you life-long rewards to do a little research and inquiries in your local market to find a small, reputable firm and approach them with your desire to enter the field. Most agencies are always looking for eager candidates and in my experience, they will try to fit you in if they can. If not, you might gain some valuable insight to your quest, or get leads to other independents who are hiring. Of note, we paid a $500/week draw, but we never cut it off after a set time period. Most of our agents moved off the draw to commission after a few months. Others, of course, weren't cut out for the business and moved onto other things. But I don't think we ever had any agents who didn't feel we gave them a fair shake.



That's my two cents for anyone who's interested.



And what't the deal with Sandy Weill? What was the sequence of events between The Travelers and Primerica?
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#47 UPDATE EX-employee responds

PFS is a wrong move ..I wasted twenty minutes of my life listening to two guys do a tag team presentation about how miserable and financially hopeless their lives were prior to Primerica.

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

I had never been tempted to participate in an MLM, but after getting solicited by several people (mostly current and former co-workers) over the years, I decided to see what Primerica was all about. This was mostly out of curiosity.



What a farce!



I wasted twenty minutes of my life listening to two guys do a tag team presentation about how miserable and financially hopeless their lives were prior to Primerica. They were very good at their presentation, but it was more like a revival meeting than anything else. I nearly expected them to reveal that PFS was actually selling nirvana.



I was not impressed by their beating up of people who have jobs (job = just over broke) and corporate America as a slave master. Really people, your employer IS using you because that's how the god blessed system works.



I have been working in a non-sales area of the Financial Services industry for over 15 years. I've seen Fortune 500 sales presentations as well as back office sales meetings and I've seen some pretty interesting things. I have never seen anything as cult-like as this meeting.



Additionally, I have an MBA (no it's not from Harvard or Yale) and I can tell all of the posters who keep bickering about whether or not MLM is taught at business schools that: YOU'RE BOTH RIGHT!!! MLM is "taught" in business schools. I recall that it was mentioned in a Marketing Management class book as a half page blurb on "alternative" structures for marketing. It certainly was not ever promoted as a recommendable business model - more like a circus freak-like curiousity. Besides, you know what? (yes, I'm talking to you, Brian from Wayne PA) People study the holocaust in colleges too, but it doesn't mean they endorse it as a lifestyle!



Anyway. I'm glad to say that I left the meeting with my $200 intact. After reading this website, I apparently made the correct decision.



Oh, by the way, I recently started my own company on the side. I'm doing very well without any MLM or anybody showing me the way to financial freedom. By the way, financial freedom is all in your head - stop spending so damn much money. Consumerism is a rip-off too!
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#48 UPDATE Employee

I've never read so much nonsense at one site before

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

It's remarkable that so many people are so ignorant about this company. It's been around a long time, so you would think that people would accept it for what it is. It's simply a financial services company offering life insurance, investments via mutual funds, and loans.



Does the company have or ever had some bad apples? Sure they have! Who or what company hasn't? Have they been investigated? Yes they have, along with companies like Prudential, New York Life, John Hancock, and hundreds of others.



It's true that Primerica does market their products differently perhaps than other financial service companies, but it seems to be working for them. I will try and address a few things that I've read today at this site that are laughable.



First of all, in regards to why people don't or won't be successful with Primerica I think is pretty simple. It's the same reason a person would not be successful with Prudential or any other firm. It's the fear of rejection!



No one likes being rejected, so if you can't over come that issue, Primerica is not for you. Better yet NO sales job is for you. Does that make you bad, or Primerica. Heck NO.



Primerica likes to state that anyone can do this business, but it's not for everyone. Simply stated if you can't handle rejection don't bother with this company or any other business involving sales.



As for training, I do agree that Primerica offices need to do a better job, however that probably applies to all companies. I used to work for John Hancock more that 25 years ago and the same thing could be said of them.



As to overrides,..well when I worked for John Hancock, to the best of my knowledge my immediate supervisor over-rode my business way back then. My guess is the general agents office got a cut too,...but I'm not sure. It's been a long time.



I recall reading at this site one man commenting about his contact list. You know people between the age of 25 and 45, married, home owners with children, and a job! Well isn't that the market that you want to go after for the most part? Sure there are exceptions, but isn't this the market that Prudential will want you to pursue as well.



For goodness sake man, you can't do much to help the homeless working in financial services. If you have a complaint with Primerica at least make sure it would not apply to all financial service companies.



This same person complains of being called an expert by watching a 20 minute video on mortgages. Well if a 20 minute video is all your state requires for you to write loans, then your issue is with your state, not Primerica. The states make the rules.



By the way, MLM is NOT taught at universities. People hear that stuff from MLM sites promoting lotions and potions, and believe it to be true. Not the case.



I have no idea why people call this company a cult, and for that reason I will not even try to address that.



Another thing I'd like to address. Someone mentions the fact that the turnover rate is higher with Primerica than other firms. This is probably true. But on the flip side of this issue, Primerica will give you the chance or opportunity to try and do this. Should they?



Maybe not,..but who am I to tell someone they can't succeed. How do I really know one way or the other what will drive this person. Primerica is truly an equal opportunity employer, and should not be condemned for that.



Well I've wasted enough time here already. If you happen to be reading this site for info on Primerica,..you are probably wasting your time as well.



Just one question for the editor,..why not post the amount of money other financial service companies have paid out in violations of state insurance laws and SEC laws?



I think your audience would find it interesting. You do realize it amounts to tens of millions of dollars. Must be all that great "training" that the other firms are giving their reps.



Have a great day,
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#49 UPDATE EX-employee responds

is it ethical to have a business model that makes you money? MLM benefits ONLY PFS

AUTHOR: Graeme - (Canada)

Makes who money?????????



The so called "entrepreneur" that your recruiter makes you think you are? The 95 out of 100 recruits that leave PFS because they realize that MLM benefits ONLY PFS. These newbie suckers join, convince their FFAR to join, and then are left high and dry with no more prospects. The sad part is that the newbie didn't get the comission, his/her recruiter did. Primerica got $$$ for the new contracts and paid the newbie ZILCH dollars. The newbie, discouraged, leaves while PFS made 100% profit from zero investment. He/she is out 200 dollars, annoyed or alienated family/friends, and missed opportunities to find REAL career opportunites. There's your ethical conduct.



Speaking of ethical, did you miss the post in which I mentioned the cold call sessions where the PFS agents block the call display of the people they intend to solicit life insurance to? If PFS is so intent on "helping people", why do they need to hide their identity calling people?
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#50 UPDATE Employee

compares Primerica with the Adult Film industry, Nevada prostitution, and "miracle pill" companies.

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

Primerica is often attacked on these threads as not being legitimate. Graeme from Winnipeg, Manitoba compares Primerica with the Adult Film industry, Nevada prostitution, and "miracle pill" companies.



To compare a large financial company with adult entertainment is indeed a stretch, however they do share something in common: they are all legal, and they are all regulated by the government (with the exception of the miracle pills, which if found fradulent, can cause legal problems with the manufacturer).



Primerica is a very legitimate company, based on a legitimate and legal business model. There is nothing wrong with the business functions of this company.



What most people seem to confuse legitimacy with is ethics. To use Graeme's example, is it ethical to sell adult material, or for Nevada to allow prostitution? On the other side, is it ethical to have a business model that makes you money and helps people who otherwise wouldn't receive help?



All ethical questions are answered by the society in general. If Primerica was not ethical, society and the government would not allow it to exist.
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#51 UPDATE EX-employee responds

Ex-Primerican Offers the Following:

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

1. Your clients' buying motives, in most cases, do not mirror your own.



2. Ethics do not drive sales. Appointments do.



3. You are either on an appointment or making an appointment.



4. Always Be Closing.



5. Twelve-hour days; six days per week.



6. You are in SALES. Keep it simple.



7. You decide.
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#52 UPDATE Employee

Someone please name a company that is ranked higher than Primerica on Forbes.

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

Name a company that has a higher AM Best Rating. You might be thinking "Primerica isn't ranked on Forbes, Citigroup is". History lesson: Primerica and Smith Barney were together long before Citigroup was even thought of. Primerica is the foundation behind Citigroup, do some dang research on the company. We've been the largest Life Insurance Company since 1984, why, because other companys can't figure out that recruiting is the key. How can you feel pride in recruiting somebody to second rate companies like: State Farm, Allstate, NW Mutual, New York Life, Met Life, Merrill Lynch, Farmers? As long as they sell whole life they have no credibility with the consumer, and there's no pride in becoming a typical insurance agent. Those companies are the reason the insurance industry has a negative taste in the American public's mouth. Still the only company that sells 100% Term Insurance. We do what's right 100% of the time. Argue that.
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#53 UPDATE EX-employee responds

Primerica is Legitimate, eh? ..also fits the description of the Adult Film industry

AUTHOR: Graeme - (Canada)

Someone posted earlier through deductive reasoning, Primerica falls into the category of legitimate business because it fits the definition of legitimate. You know what? That self-serving line of argument also fits the description of the Adult Film industry, prostitution in Nevada, and companies that tout "miracle pills." Please, legitimate does not encompass ethical.



PFS preys on the naive, desperate, and uneducated, period. When is the last time you've seen a Certified General Accountant or MBA sign up for PFS??????
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#54 UPDATE EX-employee responds

You've got to be kidding!!!

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

You say Primerica has the best compensation out there. I know of absolutely no other company out there that starts people off at 25% commission on term life insurance and no company out there that starts people off at 16.5% GDC on securities. Primerica' compensation is some of the WORST in the industry.



There are many companies that educate clients and do the right thing. You are in Oklahoma one of the states that allow refinancing of home loans at 100% of the home value. The SMART loan is a terrible product.



Don't just blindly follow, don't be coachable (just another word for gullible), open your mine and do some research before you do some harm to your client's financial situation. YOU ARE DEALING WITH THEIR FUTURE JUST BECAUSE YOU EDUCATE THEM A LITTLE BIT DOES NOT GIVE YOU THE RIGHT TO RIP THEM OFF!!!!



I started with Primerica and now I am an independent agent making top commissions, doing the right thing for all of my clients--not just the five pointers--as well as showing my associates how to do the same.
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#55 Consumer Comment

My professional opinion: Don't Join

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

I will preface by saying that I work for a large firm that provides business assurance and advisory services to multi-billion dollar companies. My particular focus is on the insurance industry. In the past several years, my firm has spent tens of thousands of dollars training and educating me on insurance and actuarial functions (this training is, of course, above and beyond my degree in financial accounting). I share this information only to outline my perspective on this issue.



Several years ago, one of my friends joined Primerica and invited me to join as well. He brought his "coach" to my house to give me their presentation. During the presentation, I was less than impressed by the knowledge or understanding of financial systems possessed by my friend and his coach. Out of friendship loyalty, however, I attended one of their regional meetings (I guess it was a recruiting event of some sort?) during which videos were shone and presentations were made. During the meeting, it became apparent that my product-related questions were not appreciated and that no one had satisfactory answers for many of them. The meeting focused on how independent and wealthy Primerica could make me. Again, my impression of the participants was not that they were aspiring financial professionals, but that they had been convinced of the Primerica Truth and nothing could change their minds. It seemed almost to be a religion. Needless to say, I did not join and am glad that I did not. When I last spoke to my friend, he was working odd jobs to make ends meet until his business got up and running.



All of the above, however, only outlines my opinion and its basis. I advise anyone who is investigating Primerica to do as much research as possible, specifically, making sure that the products are completely valid (there have been claims of predatory lending, etc.), and that you have a real understanding of financial and insurance systems beyond what they teach you in their courses. Remember, if it sounds too good to be true



I still regret that I didn't try harder to convince my friend to go back to school and pursue a more stable career. Another of my friends, who joined, netted only $500 in three years (he fully admitted that he did not put forth as much effort as he should have). So, be careful.



Finally, to generally respond to some of the rebuttals I have seen on this site, I will point out that the same arguments seem to be used over and over. They are also the same ideas I heard during the presentations. I also noticed a hesitation by the posters to say how much money they actually earned last year, using phrases such as on track and on pace to earn $X this year. Most financial services organizations focus on products and clients when recruiting, not on personal compensation; that compensation will mirror good service is a given. I laughted out loud at Ryan's assertion that Primerica is twice as big as Wal-Mart. I can only assume that he is specifically referring to Citigroup, of which Primerica is a part, but even so, Wal-Mart had revenues of $247 billion last year while Citigroup had revenues of $101 billion (less than half of Wal-Mart's). Come on, don't let yourselves get suckered and then have to start making up fantasy worlds to justify it.
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#56 UPDATE Employee

I'm on pace to hit $300k by the beginning of 2005 (at age 24)!!

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

I've been with this company for almost 2 years, I'm on pace to hit $300k by the beginning of 2005 (at age 24)!! If you're researching this company be sure and check credible sources--not some moron's response who is going to die broke no matter what they do-that's not research (type in Wal-Mart, over 100,000 websites that rip that company exist, our company is 2 times their size) Try the Better Business Bureau, SEC, NASD, any third party finance publication, your state Insurance Commissioner etc.



If there was a better company with more credibility, does a better job of EDUCATING clients--HAS THE BEST COMPENSATION ON THE PLANET, find that company and let me know. Of all the life insurance licenses held in the country, 46% of them are appointed with Primerica Financial Services.



If you're not independant-you're dependant. How many successful employees do you know? The most wealthiest people in America are Self-Employeed Business Owners. Long story short- If you're willing to work like most people won't for 5-10yrs, you can live a life that most people can't. I'll challenge anyone that disagrees.
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#57 Consumer Comment

Reality check, 6 million customers and a handful of dissatisfied folks doen't make for a bad company

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

I have been researching Primerica and came upon this site and have read nearly all the posts, both good and bad. As previously mentioned, most of the complaints are additions to other threads. It's seems clear to me that the detractors to Primerica and it's business model simply don't fit in. There is nothing wrong with that...can't please everyone. But to suggest that Primerica is sinister and brainwashes it's "victims", is laughable.



Bottom line: 6 million customers and a handful of dissatisfied folks doen't make for a bad company.



Regards,
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#58 UPDATE EX-employee responds

clarification, PFS one can not become a financial planner, since financial planners must be independent.

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

To Jenn of Wisconsin,



I never said that all one had to do is watch a video and become a financial planner. Far from it, in PFS one can not become a financial planner, since financial planners must be independent. What I said was that one can watch a video in PFS to do the Mortgage portion of the FNA's that tout their "SMART" home equity loans. At least this is case in the state of Maryland. Other states have different requirements. But congrats! on avoiding PFS. And as for Adam in San Jose. I don't want to name company names, but there are plenty of cheaper term products. I for one have a 300,000 30 year level term that was 100 cheaper per month than PFS's 20 year level. Being a former agent I read the fine print and your statement about that is baloney! You have'nt "research" anything. As for "people have to get paid somehow" statement this is true, but is it mentioned during their presentations about no-loads, especially when there is a large inital lump sum involved? Are the agents made aware of no-loads? After all you do what's right 100% of the time right? And you could not address the other points I was making could you? Regarding high interest rate on so-called SMART loans or who really owns your clients can you? Because there is no defense, just denial. This all I hear when I read these rebuttals. I know and knew what this company does and how it operates, and when the fog clears so will you.



Regards,
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#59 UPDATE Employee

What about the customer

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

Technically, I am still a member of Primerica because my license is still valid but I am no longer selling Primerica products. I was EDUCATING families in the area of finances FOR FREE several years before joining Primerica. My recruiter used that fact against me and asked me why I should not get paid for helping people. Not seeing a problem with that, I paid my $199. It was at the first appointment I found out that the mutual funds they wanted me to sell were loaded. I faced telling friends and family the opposite of what I'd been preaching to them before but my RVP had an answer for that too. If they don't know how to invest for themselves then a loaded fund is better than no fund at all. The straw that broke the camels back was seeing a married couple (who obviously, from their apartment) who could not afford to start a retirement account, a money market account, let alone buy insurance, yet, reducing their debt was never addressed. Actually, they were told to change the withholdings to be able to afford just the insurance. So scraping up $199 each to get both of them to join was out of the question but "The question had to be asked". What about educating the customer before selling them anything? Would the customer still choose Primerica products?
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#60 Consumer Comment

..After doing extensive research on them I chose not to spend my hard earned money on them.

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

Roger,



I just wanted to correct you on the assumption that you just watch a video and are suddenly a financial planner. They require you to go to classes and actually take tests to get your license.



I was contacted in November about becoming a Primerica agent. After doing extensive research on them I chose not to spend my hard earned money on them. I did however decide to send my resume in to Northwestern Mutual to become one of their representatives.
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#61 UPDATE Employee

A True Opportunity

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

I have been reading the slander about PFS, and I feel I need to comment.



Fist of all I have been involved with the company for a year now. I am a Sr. Rep about to turn District Leader. When I was first recruited by an RVP, I didn't like most of what I was seeing or hearing from this particular RVP. I did like that a reputable company like Citigroup decided to use a MLM model to do business. Before joining I did some research on Primerica, A.L. Williams and Sandy Weill, and it came down to two things for me.



First you have to look at whom you're going into business with. In PFS you are in business for yourself but not by yourself. The first office I went to, I didn't get a good feeling about the RVP. I didn't feel I could trust him. Not all offices are run the same. There are guidelines to follow on how to operate an office in regards to compliance, ethics, sales presentations, etc. However it is up to the individuals to implement these guidelines. You shouldn't judge a company or a whole sales force on the actions of a few individuals. We have all seen or have experienced a bad doctor, dentist or teacher. You seek out a professional that works for you. I found an office that works for me. My office promotes self-improvement, product knowledge, team building, and client relationships. We do what is right for our clients all the time, no exceptions. I formerly worked for a major bank as a personal banker then later as a business banker. We were trained to cross-sell and not help clients. I have gained valuable financial concepts that are proven. Math doesn't lie. I do believe that some people have been taken advantage of at PFS, as clients or associates. I also believe that not everyone should be in this business. I am very selective of whom I prospect. You have agents that are money hungry and aren't looking at it as a long-term career. You have leaders that haven't taken the time to train there down line because they are focusing on just recruiting more people in the business. That's why it is important to really take a look at whom you are getting involved with before you join an office or start a financial program.



The second thing for me is I realized that it is time and effort that is going to make me successful at PFS. I haven't made a lot of $$ yet, a few thousand here and there. That's because of the lack of time I have put in. A good opportunity becomes a great opportunity when it is utilize it. I don't believe that all people fail at PFS because they are lazy. I think a good portion of the people fail at PFS because they are not used to working the way you have to work to be successful PFS. This business shows in a matter what you are really made of. People blame the products or the business model. The products are great and highly competitive. If you really do your research you will come to that conclusion. (Cheaper term then PFS: purchase one of those policies then read the fine print.)(No load funds that perform the same or better than our Smith Barney funds: nothing is free in America, people have to get paid some how).



I am no scholar by any means but neither were some of the most successful business people of the last century. I owned a caf and grocery store in the past. I also own a notary firm now. I can tell you it is easier to get a traditional business like those off the ground then it is to get PFS moving. The learning curve is greater, but the rewards are greater too. If you have been taken for a ride by one of our agents or RVPs, please report them to Primerica Corp. in Georgia, or the insurance bureau and the FTC office for your state. We don't need people like that representing our company or working in our industry.



Even if you do quite and fail at PFS, you should have some mortgage experience, gained a life license and a series 6 & 63 license at major discount. Those tools will make you more marketable in the job market. Even if you loose you still gain.
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#62 UPDATE EX-employee responds

Josh, Get Real. one can go out and buy a financial planner license

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

I have respond to Josh's statement that one can go out and buy a financial planner license. This reasoning applies to every license that's obtained. The point is that licensed financial planners are usually independent, and had pass exams to obtain their license. The problem with PFS is the agent watches a 30 minute mortage tape and now go out and wreck havoc touting the FNA and ruining people's financial lives. Just check recent postings. Josh, you must wake up. It is what the many complaints on this site says it is. Deal with it and stop living in denial!



Regards,
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#63 Consumer Suggestion

More baloney from a defender of PFS, lies and the brainwashing techniques

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

Josh there is also an opportunity to win the Powerball jackpot when you buy a ticket, however those odds are about 1 in 80 million. The odds of working for Primerica and making 100k are almost as bad. Almost. It's the lies and the brainwashing techniques these recruiters use to employ naive people who have families to support, who actually think they are going to be one of those people to make 100k+. Not true. If PFS would be upfront, and tell people that most people that get hired do NOT make more than 20k, that would be more honest. And you would not have so many complaints on this website.
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#64 Consumer Suggestion

There are alot of numbers and statements w/ no backing.

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

I did not want to respond to all of this negativity, but feel I must. Several of you are throwing around numbers, percentages, titles, etc. without backing up or comparing apples to apples.



First, please don't use the term Financial Planner ("The agents tout their Finacial Needs Analysis (FNA) as if they are financial planners which they are not.) without letting everyone know what a financial planner is and that the vast majority of those in the financial industry are not 'Financial Planners'. Anyone can buy a license that makes them a Financial Planner.



Second, you should not throw around percentages for turnover without comparing them to the industry average (and I imagine you made up the percentages anyway for effect). The turnover rate in the financial industry and sales in general is high. It is the nature of the business.



Third, don't write "thank you for your thoughtful and professionally presented insights" when referring to writings concerning 'brain washing'. What is the definintion of this? Primerica states there is an OPPORTUNITY to make 6-figures, not a GUARANTEE.



Finally, anyone reading these reports should seriously consider what they read, but do yourself a favor and do real research on sites that are unbiased. When posting here, you are either the company, the owner, an employee, an ex-employee or my favorite: 'I have a Consumer Suggestion or a constructive solution on how to resolve or avoid this 'Rip-off' in the future. Any other nonsense will be ignored.' There is no option to state that you don't think it is a rip-off. Just keep in mind what this site is about and what keeps people coming back.
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#65 Consumer Comment

How MLMs profit from rapid turnover

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

David and Brian... thank you for your thoughtful and professionally presented insights. If more of Primerica's defenders had your level of clarity I would think higher of this organization.



On the benefit of rapid turnover, consider this: the goal of the massive recruiting effort is to bring in vast quantities of people. These recruits are what would be considered "unqualified," (note that unqualified has a different meaning here than the usual) meaning that there is no real effort put forth to determine if the recruit actually has any aptitude for the job. The first several presentations are made to friends and family, who are extra prone to purchase due to the trust involved in their relationship or pure sympathy, and the recruit does not share in the commission. Additionally, the new recruit is asked to give the names of several acquaintances who may be interested in the products or employment offered by Primerica.



Essentially, the new recruit is an unpaid salesperson, and also serves as an avenue for further solicitation. Commissions earned are shared by the levels of uplines, and the recruit receives no benefit from the work that he puts into the organization.



If the recruit does make it past this point he is certainly a source of continued income for the upline. However, the uplines make less money from his sales because now they have to share the commisions with him. Also, if he makes it to a certain level, he and his downlines form a new pyramid and some of the uplines lose the share of commisions they were making from him.



For the people at the top, who don't absorb the risk of loss due to training expenses, rapid turnover at the bottom ensures that most of the customers are friends and family of the salespeole, increasing the per-presentation success rate by capitalizing on the personal relationships of the recruits. Socially this can prove very damaging, but it's an ingenious way to fatten the pocketbooks of those at the top.



This method is a hallmark of the MLM industry. Bring in vast quantities of people with no aptitude for the job, have them make a few uncommissioned sales to friends and family, and let them walk out the door. If the people at the top really desired that the majority of the recruits would succeed they wouldn't employ MLM. Instead, they would do everything possible to make sure that each person they brought into the organization was at least minimally capable of doing the job. MLM ensures that most people will fail (this is actually a mathematical necessity: if even half of the recruits brought into Primerica were to succeed the business model would topple), and this is good for the bottom line. In a goods-based MLM, such as Amway, it's much worse because the recruits are actually out the money they spend on products. At least with Primerica you only lose $200 and alot of time.



This is not to say that there aren't success stories, only that they are few and far between. David presented a very good synopsis of what it takes to succeed in this organization. Unfortunately, the recruit is given a very different picture. Even following those instructions, however, your chances of success are slim. Going in to Primerica the recruit should ask himself if he is willing to work that hard for something that might not pan out, and, perhaps more importantly, if he can actually bring himself to be a recruiter/salesperson. Most people can fool themselves into thinking that they can sell or recruit, but very few people can actually do it.
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#66 UPDATE EX-employee responds

Agreed, Run Away fast

AUTHOR: Roger Anthony - (U.S.A.)

It never ceases to amaze me how Primerica apologist want to live in denial. No Brain washing occurs? Oh sure. The overwhelming responses on this site have been negative, yet the apologist just don't get it. Kim from Arizona is right. Run away. "System designed for success?". Give me a break. If this is not brain washing then what is? Lets look at Primerica?



1) The agents tout their Finacial Needs Analysis (FNA) as if they are financial planners which they are not. The ultimate goal of the FNA is to sell the over price term life insurance. There are companies out there that just flat out blow Primerica rates for term insurance out of the water. Does the PFS agent know this or has he or she been brain-washed?



2) The Annual Percentage Rates on Primerica's so-called SMART (Save Money and Reduce Taxes)home equity loans are just plain high. So the agent must now via a dance using the FNA that show them

by accelerating their mortgage (ala bi-weekly or bi-monthly payments) they will save gobs of money. They agent of course hopes the client missed the part about the high interest rate. And "preys" (not a typo) that you will do business with them. Of course chances are that the client and get a better rate somewhere else and can use the difference to accelerate their mortage through their present mortage company or the one they switched to. Does the PFS agent know this or has he or she been brain-washed.



3)The variable annuties and mutual funds PFS offers are loaded. The client can obtain no-load funds that perform the same and better. Does the PFS agent know this or do they have to be brain-washed?



4) PFS touts to prospective recuits that this is a chance to own your own business, however Family Headquarters in Duluth GA calls all the shots and can and does change "your business" at anytime and in anyway. They also have complete "ownership" of any and all clients that you bring in. Does the PFS agent know who really owns the business? Or have they been brain-washed?



In conclusion, the use of brain washing techniques are not some sort of trendy rebuttal. It is obiviously a fact, just look at all the rebuttals. I predict that the so-called "legitmate business model" will ultimately fall. But only time will tell.



Regards,
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#67 UPDATE Employee

Response to Kim from Gilbert, AZ ..look in the resume postings on such websites as monster.com

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

Response to Kim from Gilbert, AZ



Being that Primerica is a legitimate company in every aspect, including the laws of the United States, it would therefore have the right to acquire people to help their business. One such way is to look in the resume postings on such websites as monster.com.



Before Primerica, I was briefly unemployed. I received an email from a pharmaceutical company regarding a job opening. I have absolutely no experience in pharmaceuticals, and had no references in regard to the type of job they were offering. I couldn't say that they were preying on me. They were simply offering me an opportunity to work for their company. Primerica does the same.



I do have problems with the company, so if it sounds as if I'm trying to sugar coat Primerica, please don't get that idea. However, the recruiting practices are perfectly legal and moral. If a person does not like the opportunity they are presented with, or any aspect of the company, they can always simply leave.



As far as the brainwashing that the agent can make a lot of money, it is possible to make a large amount. I'll agree that it isn't very likely, however. And the high turnover rate can be partially attributed to the extreme difficulty to be found in financial sales. Actually, sales positions in just about any industry have a high turnover rate. If I were to wager a reason as to why Primerica's turnover rate is so high, I would have to say because most people are not salesmen, and after a few setbacks, they give up and find something else they can do better.



You asked "why there have been almost 200k victims of this scam." I'm not totally sure I understand your question. Who are the victims? If you are talking about the clients, I would differ with your opinion, being that the gross majority of the time, the company was able to help people financially, and in some cases, get them to retirement with fairly large sums of money to live off of. If you are talking about the number of agents, I wouldn't call them victims of a scam. They each had full knowledge of what they were doing, and as adults, chose to pursue this avenue. Each agent, and each adult human being for that matter, should be able to take responsibility for their own actions. This being the case, Primerica can not possibly even be considered as a scam.



Your post of January 9, 2004 read "This company would not have 100's of complaints on here if they are legit." Most of the posts on this website are threads from an original complaint with a few various complaints tacked on for good measure. Like I said above, there are problems with the company, however not one person is a Primerica agent against his/her will. And considering that, from what I've read, most of the complaints are about the recruiting process, those complaints can be safely ignored.



In a final note, I currently own my own business outside of Primerica, and outside of the financial industry. If anyone is going to "warn" people to stay away from Primerica, then I would like to warn people to stay away from the corporate world, meaning jobs at desks and cubicles. Primerica, despite its faults, somehow brought out the motivation I needed to get things done to help myself and my family.
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#68 Consumer Suggestion

I have yet to see Primerica advertise in a major newspaper or job fair.

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

Primerica does PREY off of resume jobsites, tell us, why do they target the totally inexperienced then? It's Preying because the applicant is toally brainwashed into thinking they will make a ton of $$$, which most do not. Tell us, if PFS is so great to work for, why is there a 95% turnover rate, and why have there been almost 200k victims of this scam? If it was so great to work for, there would not be constant openings.
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#69 UPDATE Employee

majority of Americans are financially ignorant and Primerica provides

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

Agree with Brian from Wayne, PA



Primerica does not thrive on high turnover. As Brian describes correctly it is the recruits who stick around, making sales and providing leads, that an up-line wants.



As far as the initial $199 for life insurance licensure - the up-line gets nothing for that. It is simply a cost of doing business for Primerica.



The level of sophistication of an FNA (Financial Needs Analysis) from Primerica may seem simplistic to some of you, but the truth is it is enlightening to many potential clients. I believe a majority of Americans are financially ignorant and Primerica provides, at the very least, a starting point for folks who haven't given much thought to the consequences of their saving, investment, and debt behavior.
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#70 UPDATE Employee

Being a legitimate company, Primerica does try to recruit some people via resume sites.

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

As a response to Kim from Gilbert, Arizona, Primerica does not "prey" on people posting on resume sites. Being a legitimate company, Primerica does try to recruit some people via resume sites. However, it also recruits via newspaper ads, job fairs, and a variety of methods. It might just be that the office you had contact with might have decided to recruit with a heavy emphasis on resumes.



To say that Primerica preys on people from resume sites would be the same as saying Glaxo SmithKline, Sears, and all large companys prey on resume sites. During a short unemployment, I was called by those and others, along with Primerica.



Also, as a response to Tim from Valparaiso, Indiana, the system is not designed for failure. A high turnaround does not help those who are higher up. Actually, the longer people stay in the business and work, the more the higher ups can make. If I were mid-level with Primerica and had (as a large reference) 5000 recruits who stayed for 4 months, got their licenses, never wrote any business, and then left, I would not have much money based on them. However, if I had 10 recruits who worked hard and wrote business, I would receive a fairly decent amount of money.



The system is designed for success. That having been said, there are two glaring problems with Primerica.



The first is that the corporate side of the company doesn't really do much to help the agents, which can result in bad blood between the two. My recruiter tried hard to help a few families, and the company decided not to do business with them based on minor details, causing the agent to become bitter over time.



The second glaring problem is also with the corporate side of the company. The overall "cost" to the consumer is higher on average than other companys. In other words, if the average person had a fairly basic knowledge of how money works, they could shop around and get better deals and get themselves out of debt quicker. As an example, while the mortgage rates were around 5%, Primerica was writing some mortgages at anywhere between 7-9%. The company pushed that time is more important than the rate, which is true to some degree. However, if you had a 5% mortgage and paid it off the way Primerica sets you up to do, you would have your house paid off in a significantly shorter period of time.



In conclusion, Primerica is a legitimate business based on a legitimate business model. They focus on people who don't have basic financial knowledge. So, if you want to have what the promise, I would suggest learning about the flow of money. If you do, you would have a better track to get where you want to go.
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#71 UPDATE EX-employee responds

Primerica works for some....

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

I am an ex-sales rep for Primerica. First off, the organization is not a cult and does not brainwash anybody. Anyone describing it as such is just sensationalizing the company's practices simply because it is hip to do so.



Primerica is a Multi-Level Marketer (MLM). Other MLMs include Quixtar (formerly Amway), Herbalife, etc. There is nothing illegal in the MLM business structure. However, many people find MLMs to be rather sleazy. On the other hand, MLMs thrive because they offer legitimate products and services.



Primerica didn't work for me. Plain and simple. For those of you willing to make a go of it, realize that the financial advisor gig is tough no matter which company you go with. With Primerica, I agree that statistically it will be tougher. You are an independent contractor working for a highly de-centralized organization. Support is limited and depends entirely upon your up-line. If you don't produce quickly and consistently, your up-line will not be there to train you. Strictly business. The up-line has a vested interest in your production because he/she gets generous overrides. Why would he/she bother spending time training you if you can't make any money for them?



Here's some advice on getting to RVP in 12-18 months from a recently promoted RVP in my ex-hierarchy:



1. Plan to work twelve-hour days six days a week.

2. Recruiting is your first order of business.

3. You are either on an appointment or making an appointment. Period.

4. No excuses.



Being presented as a part-time opportunity initially, I quickly found that any successful rep was pounding the pavement and hitting the phones on a full-time basis. You really have to get to Regional Leader before you see the kind of money a first-year financial advisor would make.



There is definately opportunity to make a living and a good living at that. You must be a schmoozer and you must be willing to hear 'no' 49 times before getting to a 'yes.'



The products Primerica offers are sound. If you want some real business info, rather than the ranting and ravings (myself included) you find here, I suggest you do your research elsewhere. A great source for legal information is the Public Access to Court Electronic Records (PACER) system. You can find it on-line. You may also want to get information from AM Best, Hoovers, NASD, etc.



Best of luck to those of you pursuing the Primerica opportunity.
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#72 Consumer Comment

If you need to make money then you need to get out. The system is designed for failure. The people at the top profit more from a rapid turnover

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

Josh, don't worry about the spelling. I can never figure out how to spell liscence either, and I'm not even sure I got it right just now.



If you are in a position where finances are tight and you need to support your family you should know that putting all your eggs in the Primerica basket is an extemely risky proposition. There is certainly a possiblity of good earnings with Primerica, but there's also a possibility that you'll strike it rich off a slot machine. If you don't have the time to throw away on a venture that is, statistically, most likely to produce no or very little income, I would suggest finding different employment. On the average Primerica reps earn less than minimum wage and most don't stick around longer than six months. And despite what some may say, this is not always, or even usually, due to laziness.



The system is designed for failure. The people at the top profit more from a rapid turnover at the bottom than they would if most people were actually successful. If you don't have to worry too much about finances for a while and don't mind taking a huge risk, and if you have a natural aptitude for sales (but don't fool yourself, very few people are actually cut out for it) then by all means give it a shot. Otherwise, you'd be better off, for now at least, flipping burgers.
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#73 Consumer Comment

If you need to make money then you need to get out. The system is designed for failure. The people at the top profit more from a rapid turnover

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

Josh, don't worry about the spelling. I can never figure out how to spell liscence either, and I'm not even sure I got it right just now.



If you are in a position where finances are tight and you need to support your family you should know that putting all your eggs in the Primerica basket is an extemely risky proposition. There is certainly a possiblity of good earnings with Primerica, but there's also a possibility that you'll strike it rich off a slot machine. If you don't have the time to throw away on a venture that is, statistically, most likely to produce no or very little income, I would suggest finding different employment. On the average Primerica reps earn less than minimum wage and most don't stick around longer than six months. And despite what some may say, this is not always, or even usually, due to laziness.



The system is designed for failure. The people at the top profit more from a rapid turnover at the bottom than they would if most people were actually successful. If you don't have to worry too much about finances for a while and don't mind taking a huge risk, and if you have a natural aptitude for sales (but don't fool yourself, very few people are actually cut out for it) then by all means give it a shot. Otherwise, you'd be better off, for now at least, flipping burgers.
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#74 Consumer Comment

If you need to make money then you need to get out. The system is designed for failure. The people at the top profit more from a rapid turnover

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

Josh, don't worry about the spelling. I can never figure out how to spell liscence either, and I'm not even sure I got it right just now.



If you are in a position where finances are tight and you need to support your family you should know that putting all your eggs in the Primerica basket is an extemely risky proposition. There is certainly a possiblity of good earnings with Primerica, but there's also a possibility that you'll strike it rich off a slot machine. If you don't have the time to throw away on a venture that is, statistically, most likely to produce no or very little income, I would suggest finding different employment. On the average Primerica reps earn less than minimum wage and most don't stick around longer than six months. And despite what some may say, this is not always, or even usually, due to laziness.



The system is designed for failure. The people at the top profit more from a rapid turnover at the bottom than they would if most people were actually successful. If you don't have to worry too much about finances for a while and don't mind taking a huge risk, and if you have a natural aptitude for sales (but don't fool yourself, very few people are actually cut out for it) then by all means give it a shot. Otherwise, you'd be better off, for now at least, flipping burgers.
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#75 Consumer Comment

If you need to make money then you need to get out. The system is designed for failure. The people at the top profit more from a rapid turnover

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

Josh, don't worry about the spelling. I can never figure out how to spell liscence either, and I'm not even sure I got it right just now.



If you are in a position where finances are tight and you need to support your family you should know that putting all your eggs in the Primerica basket is an extemely risky proposition. There is certainly a possiblity of good earnings with Primerica, but there's also a possibility that you'll strike it rich off a slot machine. If you don't have the time to throw away on a venture that is, statistically, most likely to produce no or very little income, I would suggest finding different employment. On the average Primerica reps earn less than minimum wage and most don't stick around longer than six months. And despite what some may say, this is not always, or even usually, due to laziness.



The system is designed for failure. The people at the top profit more from a rapid turnover at the bottom than they would if most people were actually successful. If you don't have to worry too much about finances for a while and don't mind taking a huge risk, and if you have a natural aptitude for sales (but don't fool yourself, very few people are actually cut out for it) then by all means give it a shot. Otherwise, you'd be better off, for now at least, flipping burgers.
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#76 Consumer Suggestion

Josh, please reconsider and read all the complaints on this site. Primerica is feeding you a load of BULL.

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

Primerica is feeding you a load of BULL. Listen to people on here. This company would not have 100's of complaints on here if they are legit.



Primerica totally preys off people like you: Somebody who posts on monster.com looking for a job, this person probably has no experience or prior training in insurance or finance. They prey on people just like you. You will be asked to submit the names of friends and family so they can be harassed by a Primerica agent. These people do not hire in an ethical way which is posting in employment ads in papers, jobsites, job fairs, nope. They bug people that post their resumes on monster, hotjobs, etc..



You will make very little $$ if any working for these guys. Look through the reports on here. I think the % is something like less than 1% of agents actually make 100k a year. 95% of agents make less than 10k a year. Those are not very good odds. If you have a family to support then you do not want this. Remember, they make you pay for your own training, and you are technically self employed so you will get no base pay or benefits.



PLEASE do not waste anymore time on these guys. Walk away. Any money that you have spent now, will seem trivial than the amount you stand to lose if you stay with PFS.



Check back with us,
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#77 UPDATE Employee

Yes, there are problems with Primerica, but they are not insurmountable.

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

General Comments, Part 2



MLM is a legitimate business model, as based on the definition of legitimate. Some people may disagree based on their individual ideas of how business should run.



Primerica is an MLM styled business. Therefore, by logic, Primerica is a legitimate business. If not, it would have never gotten as far as it has.



First, I would like to provide some background of myself. My first jobs, as with many people, were in retail (Kmart, and other stores such as that). After that, I moved into the corporate world as a relative peon. For years, I worked for someone else, basically giving them the benefits of my hard work. I quit the corporate world and joined Primerica in order to find a way to make decent money and escape the corporate world.



A little while later, I'm still involved in Primerica, and I own my own business (other than Primerica). What I didn't get from Primerica in financial gain, I got in the form of experience and knowledge that easily ported over to my own business.



Yes, there are problems with Primerica, but they are not insurmountable. If you do work hard, and really try to help those in need, you can do well in every aspect. It is very difficult, but if you succeed with the company, you are certainly well padded.



I was "lucky". My recruiter told me flat out what the job was. In my interview, I was told that it was MLM, and that was a lot of sales work dealing with the financial aspects of peoples' lives. That recruiter is no longer with the company, but he and I are still friends.



My advice to those of you who are considering joining Primerica: riddle your recruiter with questions. If you are not satisfied with his/her answer, simply walk away, or ask someone else.



For those who are relatively new, the best advice to give is "don't give up your day job." Chances are, even if you're really good in financial sales, you won't make "serious" money for a little bit of time. So keep your day job (or if you don't have one, get one), and make it work for you. Any questions or doubts go to your upline or RVP. Pick an open-minded friend if you need unbiased advice. Or post on this board, and I'll answer as soon as I can.



Regardless of your attitude or involvement with Primerica, good luck and I hope you make work whatever you choose to do.
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#78 UPDATE Employee

Still Confused, I thought the primerica sales pitch seemed to good to be true, but it also seems plausible

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

I have been with the company for about 2 weeks now and am about to go through another licensing class (pardon the spelling). They got my number from monster.com and called me up for a meeting. Now before i go any further im not bashing the company or advocating them. i just got out of the military and of course am looking for a job to support my family. I thought the primerica sales pitch seemed to good to be true, but it also seems plausible. the office i was recruited in was not some "run down, hole in the wall in an alley" but a nice office building with expensive furniture. I did think it was a little fishy when all i did was watch a video to get a mortgage licence (again pardon the spelling). Anyway so far the company seems ok. But my opinion might change later.
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#79 UPDATE EX-employee responds

"We're here to help people" --> B.S. ..recruiting practices are nothing short of shameful

AUTHOR: Graeme - (Canada)

Primerica's ethical conduct and recruiting practices are nothing short of shameful. When I was at the introduction, I was not allowed to ask any questions. They showed a loaded 20 minute video of how great they are and that being a part of Citigroup validates their existence. The presenters were quick talkers who allowed very little time for analysis and question. The first thing they wanted was $250 (cdn) before I could even get a few questions in regarding what I was to do for the company. Unfortunately, I signed on thinking I was going to get rich by living off the commissions of people I sell to, people those people sell to, etc. Therein lies the pyramid.



The RVP at the time was some egotistically charged guy who believes that we should all become RVPs. He said that only with hard work will we be successful like him. Well, you know what? I am sure he is well off, but that is because he got his start early in the Pyramid scheme in this humble town of Winnipeg.



Here are some giveaways that Primerica is too good 2 be true:



-$249 makes anyone a Certified Financial Planner. B*llsh*t! College or University makes a CFP.



-FFAR > Friends, Family, and relatives. This is Primerica's bread and butter. After FFAR has given you all the pity they can stomach, you're on your own to peddle to complete strangers. Do you really think that the person who recruited you is going to tell you where to find new clients? Despite all the promises of helping others (you would be considered "other"), your recruiter isn't stupid; they'll glom onto as many clients as they can. Why would they give their paychecks away?



-ethics. As in, they have very little. I was sitting in on their cold call session and they were using the *67 feature (call blocking in MB) when dialing up customers. What reputable company hides their identity when calling people?



-promise of a Tropical Vacation. This is a gimme when it comes to identifying a MLM scam.



-The then current RVP told us, a room of 40-50 people, that he needs us all to become regional vice presidents. Ummm....what the hell would a city of 650,000 need 40 RVPs for? McDonalds has MAYBE 4-6 here in the Peg.



-there was not ONE FILING CABINET in the entire place!!! I dunno about you, but I felt pretty uncomfortable about having my files stored in a rep's appartment; which is what they do with your valuable and private information. They do not have a professional appearance. This was evidenced in by the 4 room, 800 sq.ft bldg which had all of 3 desks, 6 chairs, and a projetor for their propoganda vid.



I consider myself pretty lucky. I quit after a week and got 200 dollars back. I hope this posting will educate others to find a reputable financial institution to do business with. At the very least, make sure they have a REAL office building with hourly/salaried workers.
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#80 Consumer Suggestion

Why your getting screwed!!!

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

I noted from some of the comments made something is seriously wrong. I noted one author wrote that the company was sold and renamed from A.L. Wiilliams. First of all, if the alledge companies is committing fraud, the people who the predadors(spanish)transaltion=losers, should be contacting the States Attorney General Office in that state that allowed it to happen. Secondly, I am aware companies are changing their names over night. I.E. Quistar was formally Amway, I lost a small denomination of $ 125.00. I won't go after them because I fiqure sooner or later they will get hung out to dry. It's true alot of these huslers "con (short for convict)", hook desperate people to wasting time and resources. If these con artist continue in the scheme, I am sure the government will shut them down. If they the government choosed to look the other way because of personal interest they stand as loser too. While were on the topic of losers, you may want to write the Whitehouse on why the Secretary of the Treasury was asked to step down. A relative of my works for the largest auditing firm in the USA, I doubt very much they want to screw every body, I will push for prosecution, if any of the above is true about Primerca formally the Williams bunch.



Have a nice day!!!
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#81 Consumer Comment

Have any of you ever worked in the Financial 'Sales' industry?

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

I began reading these comments because I too have been contacted by a friend who is currently working for Primerica.



I had not planned on making any comments of my own (I do not know much about MLM or Primerica) but I am concerned by the comments made by those who talk about turnover and scams. Anyone who wants to get into the Financial services fields should be aware of these things.



1. I worked for one year for Morgan Stanley as a financial advisor (I left because I did not want to be a salesman). I can tell you from first hand experience that the turnover in this industry is about 80-90% in the first 2 years. This business is finding people with money and convincing them to invest it (just like what Primerica is doing).



2. To the person who commented on not being able to work with people not making at least 30k, all I can say is "in this line of business, no matter what company, you can not make a living off of people with no money. This is a sales business and you are trying to get people to invest, refinance, etc.



3. To Tim who says that "First year agents at most other financial services companies make between 20 and 40 thousand, with income increases coming rapidly thereafter." Most of the major finance companies will hire you for this amount your first year as a salary. That salary will be reduced to a draw of $2000/month by the end of that first year and you will have to 'Sell' to make more. About 10% of those hired at any of the financial institutions will make that in their second year (only about 15% will still be working there).



4. When I worked at Morgan Stanley, a good comission off a sell would be 1.5-2.0% or which the beginning FA would get 15-20% and the experienced FAs would get up to 35%. That equates to making $15 - $20 for every $100 in commission (the other $80 goes up).



I could go on. I just felt that interested people should know that many of the comments about Primerica could be said about any of the Financial institutions out there.



Finally, Tim is wrong about one thing. From reading most of the comments, I believe that many of the people who failed were not smart enough for this business. You still have to know what you are talking about to advise others and get them to trust you enough to invest. Primerica can't be all about recruiting, you could have still made money helping people better plan for their retirement.
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#82 Consumer Comment

Primerica is a cult!

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

I definitely agree with the fact that Primerica is a cult. I myself was accosted while peacefully shopping in Target by one of their "workers" who was cleary just trying to get money by roping me in. A friend of mine encountered the cult while at a job fair (which to me seems like a contradiction) and actually went to their lame-ass information session. He should've left when the first thing anyone said to him was "who brought you here?" Yep, definitely a cult...
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#83 Consumer Comment

Run as far away from this company as you can!

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

David... if you do the research (and research does not mean asking the Primerica folks for their perspective) you will understand why we target Primerica. Here are some answers to your specific inquiries, and justifications for why we focus so much attention on Primerica vs. American Express or any other financial services.



1) Turnover rate. A heavy turnover rate speaks volumes as to the quality of any career opportunity. Yes, American Express has a significant turnover rate as well, but it is less than half of Primerica's. Why is this? Because Primerica does not take the time to ensure that recruits will be able to do the job. Primerica doesn't care that you have a college degree. They use a computerized analysis that doesn't require prior knowledge or education. American Express won't even let you in the door without some sort of finance related degree, thus they ensure that their hirees are qualified and have the aptitude for the job. Why would you, an intelligent college educated individual, want to start your professional career on the same level as people who have not put the time into getting an education? As a simple matter of respecting the worth of your education you should stay away from Primerica.



2) Primerica's sales management structure is not like American Express', or any other non-MLM outfit. Any traditional sales agency can run efficiently with five levels (international, national, regional, district, local). Any more levels and the system is inefficient. Primerica allows for multiple levels, branches, offices etc., way more than what the market is capable of accomodating.



3) The average first year Primerica agent makes less than a minimum wage income, and income increases come, on the average, very slowly after that. First year agents at most other financial services companies make between 20 and 40 thousand, with income increases coming rapidly thereafter. Primerica reps are hugely decietful about their incomes with new recruits. The easiest way for them to do this is to quote the amount of money they brough into the company as being their income. Ask some of the agents if you could see their tax papers from last year and figure out what their actual net income is, I'll guaruntee you it's significantly lower than what they'd tell you outright. Don't buy into the tales of wealth. Less than five percent of the Primerica sales force makes over 50k a year.



4) You will still be working for somebody else's bottom line. The notion of "self employment" and "owning your own business" through Primerica is bogus. Primerica is still your boss. If you open your own office, they will preclude you from selling other products and also may shut down your office at any time. Being a Primerica rep does not fit most people's definition of being self employed or being your own boss, and running your own office does not fit most people's definition of owning your own business.



5) If you are a bright guy and have a college degree, you are too smart for Primerica. It won't be long before you realize that the actual probability of making money with Primerica is very slim, it usually happens sometime after you've lost your third or fourth friend because Primerica is trying to capitalize on your personal relationships.



If the other non-MLM financial service companies are, in fact, just like Primerica, I would suggest choosing a different field.
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#84 Consumer Comment

an MLM is an MLM

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

David,



MLM is not just another tool of sales management as you claim. MLM is the entire philosophy of business. Look at the list of companies that are MLM. It is endless. You have the typical Amway and Excel, then you have operations set up to sell crap like magnets to 'straighten' your water, homeopathic cancer cures, healing crystals, and every farce and scam ever developed.



They are there because what they sell and the price they sell it at can not be successful with a legitimate operation. MLM is meant to suck the massess dry to make a few people some bucks. Period.



If you truly are unable to recognize the clear, deep, wide divide that separates Primerica from the rest of the legitimate financial services industry, then go for it. Come back in a year and tell everybody how you're doing.
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#85 UPDATE Employee

What is the difference between Primerica and, say, American Express Financial Advisors?

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

I am a bright guy with a college degree. I have slaved in many jobs for many years and have grown tired of working my butt off for somebody else's bottom line.



Anyway, when I told my family I was considering financial services as a career, I was warned of the "sleaze factor" in the industry.



I have never worked in sales, but I have come to believe that the sales field provides better income than most jobs.



I went to a "Opportunity Meeting" at Primerica, a "Business Briefing" at American Express Financial Advisors, an "Informational Meeting" with Waddell & Reed, and two personal interviews with MetLife.



Primerica is not the only recruiting machine out there. The others I just listed are always recruiting. So is Prudential. So is GE Financial. So is The Hancock.



At all of these organizations it is the recruits' responsibilities to become licensed in life insurance, securities, etc. at your own cost. That is the way the industry works. A green kid just out of college can become a "financial advisor" in about three months. He can rip you off whether he works for Prudential, Primerica, or any of the others. So can a ten-year veteran with CFP & ChFC designations. Am I wrong?



The industry generally requires new recruits to do a certain amount of "pre-contract activity" before being brought on board.



Very few make it at Primerica. Very few make it at American Express. Very few.... yadda yadda yadda. So why target Primerica?



I've interviewed at mortgage companies. I've been an accountant in the re-sell market. Branch managers at mortgage houses overide their reps. Division managers overide their branch managers. Vice Presidents overide their divisions. Yadda yadda yadda. That's how sales management works.



So why target Primerica?



I'm not telling you; I'm asking you. Yes, I agree Primerica is an MLM. I would argue that MLM is just another tool of sales management. Any large successful organization uses sales management to market their business. Why is Primerica any better or worse than these other financial services companies? Why are their services any better or worse?



Currently, I am proceeding cautiously with my involvement in Primerica out of an RVPs office in Salem, NH. Meanwhile, I am still slaving at my day job.



I am finding this discussion worthwhile, with the exception of the "Hammer" mentality folks.



Thank you and please respond below....
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#86 Consumer Comment

Actually I think MC Hammer had two hits

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

AJ... first off, I agree with you in regards to our hammer friend. That kind of silliness is counterproductive to the informed debate we are trying to have here.



However, I think your line of reasoning as to those who fail in the Primerica system is flawed. To blame it on the individual is simplistic and ignores obvious facts.



Consider this: the average industry has a turnover rate of about 25%, meaning that in a given year 25% of the workforce will leave the company, and this is figuring quite high. Primerica has a turnover rate that is more than three times the national average. There is obviously something beyond individual apathy at work. To deny that fact is absurd.



Traditional places of employment have relatively low turnover rates because when they hire people they make sure that those people are cut out for the job. Judging from my own experience and the tales of others the only qualifications Primerica is concerned with is that you value income over self actualization and you don't question things too much.



This is why Primerica's turnover rate is so much higher than almost any other business. They don't "screen" their applicants to find people who will actually succeed. If a hospital told anyone they could be a doctor and make tons of money with no previous experience tons of people would sign up, but very few would cut it. Not because they are lazy people who don't "have what it takes," but because they were decieved into signing up for a job that they were not qualified for in the first place. Actually, it is more beneficial to those in the higher echelons of Primerica if you don't succeed (seriously).



And yes, AJ, I'm sure you've heard the tales and maybe even met the millionaires. However, there is a difference between "possibilities" and "probabilities." Much like when you walk into a casino you have the "possibility" to strike it rich but the "probability" of it actually happening is very low, so is the situation with Primerica (and most MLMs for that matter). Anecdotal evidence is no substitute for actual data, which suggests that most people fair very poorly.



There is clearly an ethical problem at work, and it cannot be attributed to the failures. Most people end up worse off financially for signing on to Primerica. This cannot be said of almost any other company. So, even if all the failures were just too lazy to do the job, isn't Primerica culpable for luring these inapt sloths in in the first place?
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#87 Consumer Comment

How Did Primerica Find YOU?

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

My husband got a phone call from one of these Primerica recruiters. He had posted his resume on Monster.com.



These bottom feeders cull these online job search sites and call everyone trusting enough to place their contact information online in hopes of finding a better job to support thier families.



What tipped my husband off was the fact that the recruiter could not tell my husband what the job was, he only insited that my husband come to an "informational meeting" and then for a 2 part interview.



He even flat out lied to my husband about how he got our phone number and knew he was looking for another job. When my husband asked the recruiter who had given him his name, the recruiter hemmed and hawed unitl my husband asked if it was an insructor from school, and they recruiter says "YES!".



My husbands instructor had never heard of this guy.



The truth is these people are liars. If you have to lie to people and can't even tell them what kind of job you are offering them upfront, you are not to be trusted.
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#88 UPDATE Employee

In response to Hammertime ..This guy sounds more like MC Hammer a one-hit

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

The only thing that sounds painful is

your illiterate e-mail. Sounds like you need to

be in a 7-Eleven with a mask and a gun, or better yet having already done that and now in an eightby ten jail cell.



You talk about intelligence, but you couldn't grasp it if it were pasted all over you with sticky tape. I thought you had to be 18 to comment on this site.



Where ever Cory found you, he should have left you. You don't belong in this kind of business or any other kind where the public is located. Who ever reads this Hammer's garbage should throw it right in the trash where it belongs. As far as this opportunity is concerned, it is real only for those who will jump in with both feet and work very hard.



Anyone else that attempts to be successful in

Primerica, and isn't driven inside themselves to

win, will not make it. Many people enter and many

people leave. Few stay and few really win. To

say it isn't a legit opportunity is unintelligent

based on the results of some of the company's true winners. I've seen the money and the proof of many of these successful people. Success here involves true grit and discipline, the likes that many are not willing to undergo. Being successful where you are before entering Primerica may have a lot to do with you success as well. But most of it comes down to simply being aware of your surroundings, what is said to you, who you learn from.



In fact Hammer may have truly been lied to, but his e-mail paints a bad picture of his own

intelligence. Many people get mad at the world

when they quit, but the true-to-themselves group

that quit, know they quit, because it didn't work

for them. And usually it is just because it was

too hard. Many people blame their leader or someone else for their failures. Did these people really soul search themselves and do everything possible to be successful. Sure, bad people enter the opportunities of life, and they usually lie and hurt people; however, the greatness of a company lies in those who have made the dream come true. To them, hats off, they had what you or I did not. But to the people who quit, regardless of your degrees and successes elsewhere, you simply couldn't cut it here.



Doesn't mean you are a bad person, and you should just accept it. Your trash talking about a company that will be around well after your time, is a waste of your time.



Why don't you find something else to do to become

successful, but just be wary, there is probably

going to be lots of work involved. Nothing in

life is free, except this advice!
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#89 Consumer Comment

Take those MLM glasses the rest of the way off, Ken

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

You saw through the Primerica cloud, but still have a little bit of that MLM fog clouding your eyes. There is actually quite a lot wrong with MLM as a business model, especially the way Primerica does it. MLMs, and Primerica especially, are built on faulty mathematical principles and false conceptions of consumer dynamics.



What I would really like to adress is this notion that MLM classes are taught at major universities. Here is a quote from Thomas Borona, a professor at Harvard Business School, from Marketing News:



"We do not teach such methods, MLM, at the Harvard Business School; they are not part of the curriculum; to my knowledge, they are not taught at this or any other reputable business school in the country . . . Multi-Level Marketing schemes, like chain letters and other devices, sometimes are at the borderline of what is legal -- and over the borderline of what is ethical . . ."



I myself did my own research into this and checked the course offerings of each public university busines school in the state of Michigan. Not one of them teaches any courses in MLM, CDM, or network marketing.



There is a textbook used by several universities that cites a study done into Mary Kay's marketing techniques, and it is thought that this is where the notion that "MLM is taught at major universities" came from. But, to say that something is taught, much less has its own class, simply because a study done into it may be used as part of the curriculum is like saying that bloodletting is taught in medical schools.



Business schools actually have no reason to teach MLM. First, the operators of MLMs do not want educated employees. Second, MLM is a failed business model; Since its inception in the 1950s it has failed to even grab a 1% share of the sales market. Third, the practices employed by MLMs go against everything that is known about how markets work and how people desire to do their business. Lastly, and most importantly, MLMs are legally sketchy and ethically unsound.



Business schools want to graduate good businessmen, it is important for the maintenance and improvement of their reputations. Why would they want to waste their time teaching people a failed and unethical business model?
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#90 Consumer Comment

Not quite accurate ..When PFS people claim that MLM is taught in MBA programs at prestigous colleges and universities, they go a little further.

AUTHOR: GP - (Canada)

Generally the claim is that it is widely taught and recognized as an excellent business model. This is NOT the case.



The MLM or network-marketing structure is explored to the extent that students gain an understanding of how it works and additionally, why and how it is so easily abused.



It is NOT endorsed, recommended, or even examined in depth in a MBA program. There is certainly no course such as "MLM 101" offered in the curriculum.



I am astonished that the "finance majors" and "MBA graduates" that work for Primerica and post on this site would not know this. Hmmmmmm.
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#91 Consumer Comment

Primerica's Goons

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

I am surprised Primerica hasn't sent their goons after this site. Say anything bad about Primerica and their lawyers come and hunt you down. Very unpleasant folks from Duluth, Georgia. I once said something bad about Primerica and got hammered by some guy named Sam.



I have studied Primerica and its business model. There is nothing wrong with it. It is true that MLM is taught at most universities now. They would be silly not to. I can't speak for Harvard or Yale, but it is taught. I don't know if there are classes actually named MLM 101, but if you call any university's business college, they will tell you it is taught.



Primerica has it's flaws: One flaw that makes Primerica not work for many people is that offices are often run by folks who are either relative amateurs. Another flaw is Primerica agents are taught to give canned answers to objections and agents often forget how to be genuine. Real people don't like canned answers.



Primerica bashes Corporate America. Primerica is Corporate America. Just try calling their main offices. There is more bureaucracy at Primerica than at any insurance company I've ever dealt with.



Lastly, most people who join Primerica quit. If you don't believe me, ask Primerica. They don't like to talk about it. I would guess that over 95% of the folks who sign up with Primerica quit within six months. It may be even higher than that.



Why do they quit?

1. It is sales and many people are uncomfortable with sales.

2. It is MLM and many confuse MLM with pyramids. Folks don't like the idea of someone overriding your business. Unfortunately, most jobs are much worse than that, but people don't see it that way.

3. At Primerica, people are required to be "coachable," which often means "do as I say and not as I do" or "do it even if it is really stupid."

4. Successful Primerica agents are unphased by "skeletons." A popular phrase heard in Primerica offices around the country is "some do, some don't, move on!" which means sales is a numbers game. Don't worry about the skeletons. Most agents don't like leaving skeletons.

5. Most agents are unwilling to do what it takes to succeed. Many are lazy. Many like complaining more than working. Many aren't coachable. Many aren't willing to put up with self-righteous uplines. Unfortunately, most successful Primericans are pretty self-important. Good folks, but pretty self-important.
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#92 UPDATE EX-employee responds

I could go on for days but....

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

To keep it short; I have a 30+ years sales and management background in an unrelated industry. No one could possibly say I didnt give Primerica every effort possible, I was with them for 5 years, three of them full time so I "could really be ritch". My resignation went in a few days after our annual awards banquet (I was always showered with awards) at which I won the award for top income below RVP (now this is out of over 350 people under RVP), I made less than $15,000 that year, my best year so far. I used to make much more than that in a month.



I resigned from Primerica to stay in the same business on my own; I spent several months seeking out where and how to go and my 4th month on my own made more than I made at Primerica in 5 years.



Financial Services is a great business, it just doesnt work when the upline is rapeing you for your market and then dumping you for the next market (recruit); and the excuse for this dumping is "if they are going to make it they will make it on their own". Bull, it's called taking every recruit for all their frineds business.



By the way I stayed so long as a result of the brainwashing, it's true and its tough. Dont do it, learn at a respectable company and then go out on your own.
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#93 Consumer Comment

The legitimacy of Primerica

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

Unfortunately for those of us who know why Primerica is not so great, they are a legitimate operation that operates within the limits placed on them (with a few anomolies like the case above). They are out of reach of any kind of pyramid-scheme enforcement because they market a service rather than a product, and technically there is no "investment" required of new recruits (there is the start up fee, but in Primerica's case it doesn't count for a couple of reasons). In order to prosecute a pyramid scheme the government must show that more than 30% of the income the organization derives comes from people within the organization, this is not the case with Primerica. Also, as far as the consumer end is concerned, Primerica has no interest in violating the law, they make plenty of money legitimately (although not ethically).



One importnt ramification of the SEC ruling, however, is the clearer definition it provides of the relationship between an MLM parent company and its individual agents. Most Primerica agents believe that they are self employed and own their own business but, as the SEC ruling shows, this is not true. If the Dearborn agents had actually owned their businesses, the SEC would not have been able to go after PFS, it would have been restricted to the individual "business owners." Supervision of agent activities is required by the SEC because these agents are employees of PFS, not franchise owners.
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#94 Consumer Comment

The legitimacy of Primerica

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

Unfortunately for those of us who know why Primerica is not so great, they are a legitimate operation that operates within the limits placed on them (with a few anomolies like the case above). They are out of reach of any kind of pyramid-scheme enforcement because they market a service rather than a product, and technically there is no "investment" required of new recruits (there is the start up fee, but in Primerica's case it doesn't count for a couple of reasons). In order to prosecute a pyramid scheme the government must show that more than 30% of the income the organization derives comes from people within the organization, this is not the case with Primerica. Also, as far as the consumer end is concerned, Primerica has no interest in violating the law, they make plenty of money legitimately (although not ethically).



One importnt ramification of the SEC ruling, however, is the clearer definition it provides of the relationship between an MLM parent company and its individual agents. Most Primerica agents believe that they are self employed and own their own business but, as the SEC ruling shows, this is not true. If the Dearborn agents had actually owned their businesses, the SEC would not have been able to go after PFS, it would have been restricted to the individual "business owners." Supervision of agent activities is required by the SEC because these agents are employees of PFS, not franchise owners.
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#95 Consumer Comment

The legitimacy of Primerica

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

Unfortunately for those of us who know why Primerica is not so great, they are a legitimate operation that operates within the limits placed on them (with a few anomolies like the case above). They are out of reach of any kind of pyramid-scheme enforcement because they market a service rather than a product, and technically there is no "investment" required of new recruits (there is the start up fee, but in Primerica's case it doesn't count for a couple of reasons). In order to prosecute a pyramid scheme the government must show that more than 30% of the income the organization derives comes from people within the organization, this is not the case with Primerica. Also, as far as the consumer end is concerned, Primerica has no interest in violating the law, they make plenty of money legitimately (although not ethically).



One importnt ramification of the SEC ruling, however, is the clearer definition it provides of the relationship between an MLM parent company and its individual agents. Most Primerica agents believe that they are self employed and own their own business but, as the SEC ruling shows, this is not true. If the Dearborn agents had actually owned their businesses, the SEC would not have been able to go after PFS, it would have been restricted to the individual "business owners." Supervision of agent activities is required by the SEC because these agents are employees of PFS, not franchise owners.
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#96 Consumer Comment

The legitimacy of Primerica

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

Unfortunately for those of us who know why Primerica is not so great, they are a legitimate operation that operates within the limits placed on them (with a few anomolies like the case above). They are out of reach of any kind of pyramid-scheme enforcement because they market a service rather than a product, and technically there is no "investment" required of new recruits (there is the start up fee, but in Primerica's case it doesn't count for a couple of reasons). In order to prosecute a pyramid scheme the government must show that more than 30% of the income the organization derives comes from people within the organization, this is not the case with Primerica. Also, as far as the consumer end is concerned, Primerica has no interest in violating the law, they make plenty of money legitimately (although not ethically).



One importnt ramification of the SEC ruling, however, is the clearer definition it provides of the relationship between an MLM parent company and its individual agents. Most Primerica agents believe that they are self employed and own their own business but, as the SEC ruling shows, this is not true. If the Dearborn agents had actually owned their businesses, the SEC would not have been able to go after PFS, it would have been restricted to the individual "business owners." Supervision of agent activities is required by the SEC because these agents are employees of PFS, not franchise owners.
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#97 UPDATE Employee

SEC and a general rebuttal

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

In response to John, of Salt Lake City, Utah, who offered the link of http://www.sec.gov/litigation/admin/3440269.txt.



Yes, Primerica Financal Services Investments were under investigation. If you read the document you have provided,



"This matter arises from PFSI's failure reasonably to supervise four registered representatives at an office located in Dearborn, Michigan (the Dearborn registered representatives), with a view to preventing violations of Section 17(a) of the Securities Act

of 1933 (Securities Act) and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. PFSI failed to have in place effective policies and procedures to follow up adequately on three complaints received about the Dearborn registered

representatives' "selling away" activities as

described below. As a result, PFSI failed reasonably to supervise the activities of the Dearborn registered representatives."



In short, these four individuals violated their contract with Primerica and sold unregistered securities. The SEC was investigating the PFSI compliance and auditing procedures because four of our representatives in Dearborn, Michigan were using illegal practices. Four people out of somewhere in the tens of thousands does not make it widespread.



I'd encourage you to read the entire document before deciding that PFS is operating illegally.
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#98 UPDATE Employee

Personally I dont have much respect for this company, they claim to be a rich and a legitimate company

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

My experience with Primerica. First of all I always have been skeptical about MLM Machine, but like all others I was curious, and thought to myself, "If only to get certified it's worth the risk, and maybe that will start for me a new potential career."



Well I paid my $199, and proceeded further. I was given special instructions, but I watched carefully as the top recruiter in the regional office instructed me on what I must do next. I wrote the peoples' names down that I thought needed help in refinancing, and the recruiter pushed me into making appointments with 6 of the people who qualified to be contacted under these terms. They should be married, have a house, over 25 years of age, and make over 30K. Speaking of helping people, in theory you were intitled only to help people falling in this group. The poorest of our nation, and people with major finacial problems, that in reality needed the most help from me, were disqualified.



Next I watched a 20 minutes video that made my head spin, and the recruiter came out with the jar of candies, and congradulated me for becoming the "Certified Professional" in Mortgages. I thought to myself what kind of expert do I become after a 20 min presentation? But thats true, you are a professional on the day you gave them that $199.



At the meetings I've attended, they pump you up with money promises and potential income.

They tell you that Primerica has been in business since 1972 which makes them legitimate. But when I asked them, "how come such a great company as your self, that provides people with such superb refinancing services and a bright retirement future, I have not heard of until now?" Their answer was "there are more than 30 other companies in competion with us, and they deceive people into believing that they provide the best services, but we try to bring people the light, the truth."



Well, after hearing such irrational arguments I decided that I would not sell anything to anybody before I understand the way this organization functions, and until I thouroughly understand their concept with insurance and mortgages...etc. They use a "system" where you dont need to know anything..you just follow the system for plugging in the #'s, and the computer spits out answers for you. Well thats easy enough, but what kind of expert are you if you dont get the basics behind insurance transactions? They recruit young people, who want to dive in head and toe, as fast as possible. These people dont have time to learn the basics, they just follow robotic system. They felt offended when I questioned their companies practices.



The way they stay in business, is they entitle you to do 2 important things. 1. You are entitled to make 6 appointments with people that fall into category of average families. 2. They urge you to recruit 3 other people in order for you to be successful in this new career. Well their maybe little benefit in it for you, but big benefit for them, since after those people are recruited through you, they will get brainwashed the same way, and they will too be entitled to make 6 appointments each, thats 18 total, and it goes on and on.



Personally I dont have much respect for this company, they claim to be a rich and a legitimate company, they are proud to say that they are part of citigroup.....but when I came into their office it was somewhere in the dark ally of the city, in an old shopping plaza that has been abandoned forever, and people no longer knew about its existence, because it is in such hidden location. The office is empty and very poorly decorated. Ummm...should I say more? obviously being part of "citigroup, the most respected and richest company on wallstreet" doesnt seem to appeal with their physical location and an inside unprofessional office.



What I explained here applies only to the Boise area office.



You suit for yourself.
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#99 Consumer Comment

United Shills of Primerica, listen UP!

AUTHOR: Fraud Hammer X - (Kiribati)

This is a shout out to Cory, John, et al: I am sick to death of you and your dirty lies about Primerica.



You spend your lackluster days shilling your crooked plans to friends and family. You justify your worthless existences at evening by coming here to lie. I'm calling for some SERIOUS fraud Hammertime on ALL your asses, yo! POW! Ooooh, that looked painful! OUCH!



Do I have your attention yet? Good! By all means if you have something intelligent and honest to share with us, we want to hear it. But if you stick your shill heads up again...let's not even go there. BANG!



You suck people into your sham pyramid game and brainwash them. Of course this is nothing new - it has been proved many times on the RipOff Report. The only thing new are the number of broke-ass desperadoes who honestly think they're part of the mainstream financial community coming on here to stick up for their bosses! Guess what? Why don't they show their scamming mugs here? I'll tell you why! One reason: They're SCARED of Hammertime! And them it's teabagtime! POW!
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#100 Consumer Comment

if they are so honost, why are they under investigation?

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

here's a link to the official SEC investigation for aligations of Securities improprieties.



http://www.sec.gov/litigation/admin/3440269.txt
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#101 Consumer Comment

Not everyone is lazy or 80%'s ..They're DESPERATE. Don't get sucked in.

AUTHOR: A - (Canada)

I know many people who work very hard for the money they earn without having to put money into their training. Just because some of us aren't gullible enough to fork out $200 that we really don't have, does NOT mean we are lazy or not willing to work for the money we deserve. That is a very nieve perspective.



I know numerous people who have gone to PFS's "interviews" and are very surprised when they are told that to work for this company it will cost them money. I myself have been contacted numerous times over the past 2 years and after the first "interview" I keep saying "no" and they keep calling. This seems very desperate to me.



My fiancee was contacted yesterday and when he told me by what company I told him what to expect.He then read this.And it just so happens PFS called again today. They're DESPERATE. Don't get sucked in.
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#102 Consumer Comment

Cory, I hope your experience continues to be positive BUT...

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

Anyone who has had a bad experience with an MLM will tell you that a month is not enough time to gauge whether or not you will view this as a positive employment venture later on down the road. This holds especially true if you are still in your training period. A person who is naive enought o believe the MLM hype presented during a recruits training period will certainly think he has found a gold mine.



The employment and income statistics surrounding this company are not good. Turnover is so high that it would make a McDonald's manager blush, and the average incomes are so small that a McDonald's manager would wish he could get away with paying his employees that little.



A minimum wage employee working full time can expect to gross about $11,000 in a year. The average income made by Primerica reps in a year is less than $1500. One cannot live on that kind of income, necessating a real full time job to supplement, and the MLM work becomes something which robs them of their free time (not exaclty a good version of "setting your own schedule"). This figure includes the people at the top who, in fact, are making millions. But how many of those people can there be when a sales force of around 100,000 people averages less than 1500 per year?



The important part of this figure is the masses of people at the bottom who make very little, make nothing, or actually lose money on the venture (the latter group represents the majority).



Your higher ups will tell you that these are the people who didn't want to put the hard work in to the organization, and this is maybe about 25% true. Many people put a great deal of effort into it and fail.



Many people don't put the hard work into it because they are completely unqualified to be selling financial products and are intimidaetd by the prospect of actually tring to do it. Without the people at the bottom who fail, the whole system would crumble.



MLMs are built on the premise of free labor in the form of new recruits who must first attempt their sales pitch on friends and relatives, knowing that a few sales will be made on sympathy, and a few more because your friends and family are apt to trust that you are not trying to rip them off.



Usually the "upline" gets the commission for these sales because the recruit is still in training. Be aware that Primerica misuses statistics regularly, and that uplines tend to grossly exaggerate their incomes. Also be aware that Primerica touts relationships which are necessary for any national business to be in (such as with the SEC) as distinctions. On the same note, the awards which Citigroup/Primerica and its executives have recieved are not reflective of the money making possibilities within the organization.



These people are recognized as good businessmen because THEY are successful, not because their employees are. I urge you, in the coming months, to analyze your success realistically, and not through teh MLM fog.



If you are not making a decent income within three months of full time work, then it is doubtful that you ever will.



Ask to see the tax records of the people who have been there awhile, and don't let them distract you by showing you where they deducted their fax machine as a business expense. I sincerely hope that your experience is positive, but I feel sympathy for you because I know that you are another potential victim.
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#103 UPDATE Employee

What???? ..There are things that this company has to offer that no other company can

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

I have been working for Primerica for about a month and I am already seeing results. I have been able to educate those around me on how money works and make a little money while I'm at it. I know more now about finance than I ever learned in school. There are things that this company has to offer that no other company can offer because of lack of resources. I suspect that some of these reports were written by cash value insurance salesmen and people that have tried Primerica and failed. Will everyone succeed in this business? I think that the answer is pretty obvious. You'd have to be an idiot if you really thought that everyone who tries would succeed. You have to be a certain type of person to be good at what we do. If you are one of the people that believes that Primerica ripped you off, I am sorry you feel that way. As far as offices being shut down by the government, I can't imagine what kind of idiots you were working with or what kind of operation you people had going on. The office that I work out of is a place that I actually enjoy going to every morning(if I choose). If you are a shallow person who is purely driven by money and don't really care about people, Primerica is not for you, so don't even try. But if you want a career that involves helping families, working with great people, freedom over your schedule, and job security, Primerica is the place for you.
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#104 UPDATE Employee

What???? ..There are things that this company has to offer that no other company can

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

I have been working for Primerica for about a month and I am already seeing results. I have been able to educate those around me on how money works and make a little money while I'm at it. I know more now about finance than I ever learned in school. There are things that this company has to offer that no other company can offer because of lack of resources. I suspect that some of these reports were written by cash value insurance salesmen and people that have tried Primerica and failed. Will everyone succeed in this business? I think that the answer is pretty obvious. You'd have to be an idiot if you really thought that everyone who tries would succeed. You have to be a certain type of person to be good at what we do. If you are one of the people that believes that Primerica ripped you off, I am sorry you feel that way. As far as offices being shut down by the government, I can't imagine what kind of idiots you were working with or what kind of operation you people had going on. The office that I work out of is a place that I actually enjoy going to every morning(if I choose). If you are a shallow person who is purely driven by money and don't really care about people, Primerica is not for you, so don't even try. But if you want a career that involves helping families, working with great people, freedom over your schedule, and job security, Primerica is the place for you.
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#105 UPDATE Employee

What???? ..There are things that this company has to offer that no other company can

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

I have been working for Primerica for about a month and I am already seeing results. I have been able to educate those around me on how money works and make a little money while I'm at it. I know more now about finance than I ever learned in school. There are things that this company has to offer that no other company can offer because of lack of resources. I suspect that some of these reports were written by cash value insurance salesmen and people that have tried Primerica and failed. Will everyone succeed in this business? I think that the answer is pretty obvious. You'd have to be an idiot if you really thought that everyone who tries would succeed. You have to be a certain type of person to be good at what we do. If you are one of the people that believes that Primerica ripped you off, I am sorry you feel that way. As far as offices being shut down by the government, I can't imagine what kind of idiots you were working with or what kind of operation you people had going on. The office that I work out of is a place that I actually enjoy going to every morning(if I choose). If you are a shallow person who is purely driven by money and don't really care about people, Primerica is not for you, so don't even try. But if you want a career that involves helping families, working with great people, freedom over your schedule, and job security, Primerica is the place for you.
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#106 UPDATE EX-employee responds

To Rebuttal: John 7-15-02

AUTHOR: April - ()

Spare us the BS. Yes, many people are lazy and want to get paid, but don't want to work, I'll give you that. But, I did work there and if their so "Legitamate" then why was the office I worked for shut down by the government? Money magazine posts what the company gives them, not what the consumers give them. I garentee they never looked to this website for the correct information on this company. Yes, the CEO is a great business woman, lets face it anyone who can continue to sucker and scam hard working people out of money is a great business person, but unethnical.



You want people to believe that the people complaining are complaining because they did no work and made no money. What planet are you living on? We complain because our money is gone, for me the office I worked in is gone, our pride is gone, our morals are gone, should I keep going? These people DO the 80% of work not making crap, while you sit on your ass, making the money we've busted our butts for. That's what we complain about. You make people believe that one day they'll sit on top of this pyramid, when the truth of the matter is, we will never see anywhere but the bottom. You will always sit on the top, no matter how much we bust are butts.



It's proven by your rebuttals, you sit on your butt collecting OUR hard earned money, writting these exact rebuttals over and over again. Like I said, you sure do have alot of time on your hands for someone making so much of your own, HARD EARNED money. Gives us a break. You just can;'t take it when people put your kind in it's place.
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#107 Consumer Comment

Those who complain are known as 80%ers! ...then, *EDitor's Comment to more drivel

AUTHOR: John - ()

It is sad to see the many complaints, made up of mostly half-truths and information taken out of context. You, as the Editor, should be ashamed, to participate in fanning the flames. Let me set the record straight- PRIMERICA is a legitimate company. We're part of CITIGROUP, one of the most admired companies in the world.



http://ww3.primerica.com/public/news/most_admired.html) Read MONEY MAGAZINE June 2002 issue. It's a very positive article on Sandy Weill, our CEO of CITIGROUP and Primerica. That is if you think that MONEY MAGAZINE is a legitimate magazine- maybe you think it's a scam too.



Why stop there, perhaps CONSUMER REPORTS July 1993 favorable article on Primerica is part of the scam too. No, maybe the complainers are the ones pulling a scam? There are basically two types of people in the world, 80%ers and 20%ers. 80% of the people do 20% of the work and 20% of the people do 80% of the work. I would bet that all the complainers are the lazy 80%ers. They came to Primerica with a dream to own their own business. They paid the $199 to get started or maybe they saw a friend pay it. Whatever the case, that's all they did. They put in no effort, they assumed that once they paid they would have it made.



When it didn't happen- they call it a scam. These are the same people that pay $2,000 for a health club membership and then never step foot inside again. They wonder why they are not getting in shape? They expect that things will work the same as they do at their day jobs. They show up and someone else picks up the slack of the work they don't do. They sit around in the lunch room complaining about management or their jobs, but they never lift a finger to change anything themselves. It's true- some people don't have the desire or effort to be successful in Primerica. It's unfortunate, but true. Mr. Editor at least you should have the sense to do a little research yourself, this so called site is no more than a rumor mill!
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#108 UPDATE Employee

Shut Down?

AUTHOR: David - ()

What kind of credibility can this place have if you are claiming that A.L. Williams was shut down? Even the firms biggest detractors will tell you that is a lie. A.L. Williams was never shut down. A. L. Williams was bought by a firm called American Can Company. When Commercial Credit, led by Sandy Weill (who this week was named CEO of the Year)bought American Can the merged company was renamed Primerica Corporation. Primerica Corporation then renamed ALW as Primerica Finanacial Services.



I can't understand why such a consumer advocate as yourself would willfully distort the truth.
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#109 UPDATE Employee

Shut Down?

AUTHOR: David - ()

What kind of credibility can this place have if you are claiming that A.L. Williams was shut down? Even the firms biggest detractors will tell you that is a lie. A.L. Williams was never shut down. A. L. Williams was bought by a firm called American Can Company. When Commercial Credit, led by Sandy Weill (who this week was named CEO of the Year)bought American Can the merged company was renamed Primerica Corporation. Primerica Corporation then renamed ALW as Primerica Finanacial Services.



I can't understand why such a consumer advocate as yourself would willfully distort the truth.
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#110 UPDATE Employee

Shut Down?

AUTHOR: David - ()

What kind of credibility can this place have if you are claiming that A.L. Williams was shut down? Even the firms biggest detractors will tell you that is a lie. A.L. Williams was never shut down. A. L. Williams was bought by a firm called American Can Company. When Commercial Credit, led by Sandy Weill (who this week was named CEO of the Year)bought American Can the merged company was renamed Primerica Corporation. Primerica Corporation then renamed ALW as Primerica Finanacial Services.



I can't understand why such a consumer advocate as yourself would willfully distort the truth.
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#111 UPDATE Employee

Shut Down?

AUTHOR: David - ()

What kind of credibility can this place have if you are claiming that A.L. Williams was shut down? Even the firms biggest detractors will tell you that is a lie. A.L. Williams was never shut down. A. L. Williams was bought by a firm called American Can Company. When Commercial Credit, led by Sandy Weill (who this week was named CEO of the Year)bought American Can the merged company was renamed Primerica Corporation. Primerica Corporation then renamed ALW as Primerica Finanacial Services.



I can't understand why such a consumer advocate as yourself would willfully distort the truth.
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#112 UPDATE EX-employee responds

I worked for Primerica, That office was shut down, and this IS a corrupt scam.

AUTHOR: April - ()

The editor is completely right. I worked for Primerica. I put in many many hours of meetings, work, and listening to "Promises" of great financial stability. So what happened, that were shut down by the government. The exaime you take for your liceanse, lets face it people, you are given evry answer to study so that you pass it. They start out by making you think you will be this finacially responsible person you've always dreamed of. Whatever. I got paid, but after months of listening to crap and lieing to people about what their buying. Please, like and scam, they teach you how to screw even your own mother over. This company was the BIGGEST waist of time.



Someone rebuttaled that the company has this federal backing and that federal backing. Come on, Worldcom was federal backed, where are they going? How about Questar? What about Zerox? Get over yourselves. The biggest scams are federally backed.



As to the last rebuttal stating that Premerica doesn't use triangler tatics because their illegal, what? We're all talking about the same company, right? These people thrive on the younger workers (18 to 25), they show you a graph of what you'll make, they tell you how it works, and hello, it is triangler marketing. There's you, and many people above you, as you recruite "Suckers", they go below you, you'll never reach the top, you'll never move from your place in the triangle. It is definately a "Brainwashing" tatic that many use, including Primerica.



You want to know why people are trying to destroy other agencies, lets think for a minute, probally because they are scamming employees and buyers. Use your head. Nationwide, and little by little, the government has been closing Primerica offices. Your's may be next. Do they do this to other agencies? NO! I've been there, don't feed me this crap. I just feel sorry for all those that you're still screwing over.
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#113 Consumer Comment

To John, July 12

AUTHOR: Paul - ()

"First of all, everyone who has those wonderful corporate jobs, where is your security? Being an IT contractor, I've seen more people than I can count on both hands lose their jobs with Lucent and Sun Microsystems.

"



With unemployment still not much above 5% I'd say jobs are still secure for a lot of people. Besides, no job is truly secure--especially that of a salesman. If regular employees lose their jobs then no one will have the income to purchase Primerica/Citi products. Your job security depends on everyone else's job security.



"As for MLM, it is the business system of the future. This concept is taught WIDELY at Yale and Harvard business schools. Other companies such as MCI WorldComm and CocaCola use network marketing.

"

Though it is mentioned in some marketing classes at some schools it is not WIDELY taught anywhere. It also cannot be called a "business system" or model--it is a marketing mechanism, not an entire program of business. Below are links to Yale's School of Management marketing course descriptions and Harvard Business School's core curriculum courses with descriptions. Absolutely no mention of MLM.



"If any of you know anything about finance, stocks and mutual funds have averaged 11.9% since conception in 1802 (my source is both Primerica material AND a book called "you're 50 now what," by Charles S.

"



Yes, we all know the virtues of the equity investing. First, you probably mean INCEPTION not CONTRACEPTION of the stock market. You apparently do not understand the stock market. The stock market did not begin in 1802. The New York Stock Exchange was created in 1792. Stockjobbers had been operating in England for 150 years before that, going public with money-making schemes such as sending ships to the Americas. Before that the Italian city-states of the 15th century had the equivalent. There is no solid "beginning" to "the stock market". Charles' data refers to historical projections of US equities. These figures are ballpark. Besides the NYSE data there isn't a lot of data on true market capitalization before this century. The ASE and NASDAQ data is missing for much of the time. The Federal Reserve supplemented available data with their flow of funds data to estimate true capitalization. However, these data only exist for the period starting in the mid 1940s.



"i'm sorry if a lot of people are lazy and can't pay the price and do their job because primerica isn't easy"



Your assessment that all the only input required for success is hardwork is not accurate. There are some who would have preferred to make an easier dollar, but the contrapositive that if one really works hard he or she will succeed is false. Of my ex-Primerica friends two started successful businesses which they had sold before being involved in Primerica. A third, after leaving Primerica, is one year into franchise which is turning a profit. The second friend has an MBA from the Wharton School. These are not unmotivated slackers.



The formula for a successful business has several factors independent of hard work. First, a product that consumers actually want or need. The product must be competitive. Primerica's products are not on par with their industry equivalents. Second, there must be a market for the services. Besides the fact that MLMs when carried out to their mathematical and logical conclusions reach market saturation very quickly. There is also a regional factor to the market situation. The market varies by neighborhood or metro area for example. Primerica requires a very specific demographic to whom to sell. A side note here: At my Primerica opportunity meeting (my last personal experience with them) they harped on about the US saving rate. This statistic may be the most abused ever, especially in the political arena. Government economists do not count money held in equities. For this reason, most the money held by Americans in pension funds, 401(k)s, 403(b)s, sheltered or non-sheltered mutual funds, equity funds in general is not counted as "saved". In this case the market for Primerica's services, those without any financial background and in dire straits in the way of personal finance, is even smaller than is touted. Finally, there is an element of luck.



The point is that your generalization about how to be a success in Primerica is not supportable. It is anecdotal. And to further dampen the poignancy of your point I would ask, "Is the money you made gross or net?" Also, "with how much confidence would you say that your success is replicable, year after year?" This hits the market saturation problem again.







"So it's not like this is anything new. And the CEO of our company used to be the President of American Express. He is now one of the most highly respected businessmen on Wallstreet. Money magazine and BusinessWeek have done in depth reviews of our company and had nothing but good things to say about it. And for new people reading this, check your sources

"



Until the 1980s size was a decent indicator of corporate success and longevity. But it is a silly myth to say pretend that namebrand recognition means anything to the company's legitimacy or success potential. Smaller, more agile companies have much stronger growth rates on average. Sandy Weill's praise if you read business journals closely is due more to great success with mergers. And to be presumptive, everyone knows that mergers are a quick and dirty way to increase stock values. Seldom to the scale effects make a difference. Several recent studies have driven the point home that gobbling giants are like shooting stars. Mergers give a quick boost to stock prices but with some very intelligent exceptions the new company ultimately loses money on the deal. By then Mr Weill will be gone. This problem is exactly the reason why Worldcom, by the end of the 1990s was unable to continue growing so quickly. All they were doing was buying other companies. Then the FCC began to say no and they had to figure a way, outside their mediocre business model, to claim continued success--enter accounting issues.



Additionally, Mr. Weill's merger strategy includes the cross selling of products. This may be successful, however, their is no precedent of success and banks certainly have never made it work to date.



Finally, business journals are currently hard pressed to find optimistic stories to talk about. "There must be some company that is doing okay, about which we can write an article that will generate some stock brokering profits and interest readers enough to continue their subscriptions."



The issues I feel strongly about are these:



1)PFAs are compelled to sell only Primerica/Citigroup products. This diminishes competition for the consumer who is not educated enough to question the loan structure or the price of term insurance.



2)So what if PFAs could sell any product? That would make things better, IF they had a substantial education in financial services. I am certain that some PFAs have done their best to truly learn personal finance, to remain cutting edge in the way of changes in tax laws, new products etc. However, given the corporate focus on selling and recruiting, not financial and legal education, the majority of the 100,000 reps certainly are underqualified to deal the majority of situations. The push to sell compounds this problem. Beyond debt reduction and consolidation, roth IRAs, and term insurance there are thousands of issues which can be very costly if not planned for.



The rep who gave me an FNA tried to have me refinance my mortgage even though I had no consumer debt and a low interest rate. I really could not believe that she was serious. This is anecdotal, however, she rescheduled a meeting with me to which she brought her RVP. He came prepared to "push this sale through". After a few moments of speaking he realized that I wasn't the customer he expected to find. They left but the fact that an RVP would try the same script to sell me a product that would clearly cost me more in the long run is not good evidence for the company.
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#114 Consumer Comment

Tell us please

AUTHOR: C - ()

The most obviously glaring pieces of garbage in this post are:



a) that MLM is being 'taught widely' at Harvard and Yale. No they aren't. There is not a single course at Harvard or Yale about multi-level marketing. Try to prove it.



b) that MLM is 'the future'. No it isn't. MLM has been wallowing in its own feces since its inception decades ago. Constantly sucking in new recruits on the basis of greed, it has survived but if it ever reaches the growth promised to recruits, it will immediately crash.
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#115 UPDATE Employee

Ignorant People

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

First of all, everyone who has those wonderful corporate jobs, where is your security? Being an IT contractor, I've seen more people than I can count on both hands lose their jobs with Lucent and Sun Microsystems. In addition, why do you think the corporations pay you what you do? Because you make them money. As for MLM, it is the business system of the future. This concept is taught WIDELY at Yale and Harvard business schools. Other companies such as MCI WorldComm and CocaCola use network marketing. In addition, a pyramid scheme is illegal in the United States because once you join, you are confined to your place in a pyramid. In MLM systems, you can actually make more money than your upline if you work harder than them. Also, MLM systems work when the people work. This world is full of slackers. you see them all the time at your work or when you have to do their. Or maybe you see them when you look in the mirror every morning. But those who want to win, who work their butt off will succeed in MLM systems. In addition to Primerica Insurance, they do not only pay their claims, they pay claims that Prudential and other insurance companies won't pay... say you get killed in the military. If you read Primerica Life policies, death in the army is covered where it is waived in other companies. In addition, Primerica recommends term life insurance because it can provide more coverage for much less and to invest the rest. If any of you know anything about finance, stocks and mutual funds have averaged 11.9% since contraception in 1802 (my source is both Primerica material AND a book called "you're 50 now what," by Charles Schwab). If you invested a SINGLE dollar back in 1802 and got the AVERAGE return of 11.9%, that dollar would be worth over 10 million TODAY. Too good to be true? why do you think insurance companies and banks get so much money? they take the money you put in the bank and invest it. They get their 12% and give you 3%... and now a days you're lucky if it's 3%. Does the market go up and down? yes, but in the last 15 years the market has risen 9 times over itself. the rich put their money into mutual funds and make more money. If you're middle america and complaining how hard you work and these rich people get it easy, you can keep complaining or you can do what they do and invest. i am sorry if you have had bad experiences with primerica agents. badgering is NEVER encouraged at Primerica but you know what? people will be people and you can't control that and to pick on just primerica agents is biased. your kids badger, your boss badgers you about deadlines, cold calls from company X badger. People will badger you in life so get over it. if you don't like primerica's products or compensation system, fine. go someplace else. But i've seen primerica at work, i've met a black guy living in a 1 room apartment in the projects with his 4 brothers and sisters come out of there and make over 300k a year. i shook his hand and met his mother who 5 years ago, was supporting them off of food stamps. is that marketing BS? probably not because I've met many others like him and one thing they all share in common is that they are willing to pay the price. People who fail are slackers who aren't willing to pay that price and that's ok. Primerica is not a gimmie company. It's not about what the company can do for you, but for what you can do for the people and if you do what is good for the people, the company will take care of you. too many people want want want and aren't willing to give until they get what they want. so i'm sorry if a lot of people are lazy and can't pay the price and do their job because primerica isn't easy. You pay $199 and most people think we make money off of that. do you realize that the $199 does not pay primerica agents a thing? do you understnd that the $199 that you pay fronts you:



an independent contractor's license (because you are your own boss, you make your own hours)







a mortgage license (once you put in the paperwork and do the course. by the way, a mortgage license costs around $600 in NH and they pay for it, so Primerica actually puts money into agents initially)







Life, Heath and Accident Insurance License and materials (they give you books and classes to help you pass your insurance exam. In NH it costs $105 to take the insurance exam. When you pass, Primerica refunds you $110 dollars from your $199)







Another point of information, to write business in Primerica, you need to be licensed. These are FEDERAL AND STATE exams, not "primerica's exams" these are HEAVILY regulated and we are audited by the government on a quarterly basis. The SEC and NASD check our numbers for all transactions that we do. In short, we are one of the heaviest regulated companies in the industry. Also, the credibility of Primerica is excellent. Citigroup bought us out and they make up one of the top 30 Dow Industrial stocks. We were ranked #1 of forbes fortune 500 for the last two years and we have over 1 TRILLION dollars in assets, making us one of, if not, the largest company in the worst in terms of assets. So if you have beef with us, that's fine. people have beef with microsoft. but i'm here to help people and to make a difference. by the way, i just got promoted to Regional Leader recently, the next step is RVP and i'll be making $100,000 a year in the next year and a 1/2. Last year i made 8 grand working at CompUSA. I'm living proof that it works and I believe it in whole heartedly. Primerica's been around for 23 years. So it's not like this is anything new. And the CEO of our company used to be the President of American Express. He is now one of the most highly respected businessmen on Wallstreet. Money magazine and BusinessWeek have done in depth reviews of our company and had nothing but good things to say about it. And for new people reading this, check your sources. I have given examples of the government, magazines and even the stock market to back up my claims. Other people have the 3 year old arguements of "primerica sucks, stay away!" but can they back it up? not on paper. do your own research and come to your own conclusion.
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#116 Consumer Comment

Wish you knew what you were doing

AUTHOR: C - ()

Unfortunately, Inger, PFS's idea of "giving back" to the community includes deceptive sales practices of products like loans, misleading comparisons between term and cash value insurance, and pure sales pitches for your loaded mutual funds. All in all, "giving back" means selling commissioned products. Your are "giving back" the same way Amway, Quixtar, Trek Alliance, etc., "give back" which is by trying to recruit people in order to line your own pockets. The advice you give is flawed and deceptive, and your agent turnover is over 100% annually. Some "giving back" you're doing.
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#117 Consumer Comment

Wish you knew what you were doing

AUTHOR: C - ()

Unfortunately, Inger, PFS's idea of "giving back" to the community includes deceptive sales practices of products like loans, misleading comparisons between term and cash value insurance, and pure sales pitches for your loaded mutual funds. All in all, "giving back" means selling commissioned products. Your are "giving back" the same way Amway, Quixtar, Trek Alliance, etc., "give back" which is by trying to recruit people in order to line your own pockets. The advice you give is flawed and deceptive, and your agent turnover is over 100% annually. Some "giving back" you're doing.
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#118 Consumer Comment

Wish you knew what you were doing

AUTHOR: C - ()

Unfortunately, Inger, PFS's idea of "giving back" to the community includes deceptive sales practices of products like loans, misleading comparisons between term and cash value insurance, and pure sales pitches for your loaded mutual funds. All in all, "giving back" means selling commissioned products. Your are "giving back" the same way Amway, Quixtar, Trek Alliance, etc., "give back" which is by trying to recruit people in order to line your own pockets. The advice you give is flawed and deceptive, and your agent turnover is over 100% annually. Some "giving back" you're doing.
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#119 Consumer Comment

Wish you knew what you were doing

AUTHOR: C - ()

Unfortunately, Inger, PFS's idea of "giving back" to the community includes deceptive sales practices of products like loans, misleading comparisons between term and cash value insurance, and pure sales pitches for your loaded mutual funds. All in all, "giving back" means selling commissioned products. Your are "giving back" the same way Amway, Quixtar, Trek Alliance, etc., "give back" which is by trying to recruit people in order to line your own pockets. The advice you give is flawed and deceptive, and your agent turnover is over 100% annually. Some "giving back" you're doing.
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#120 UPDATE Employee

Be informed

AUTHOR: Inger - ()

I am sorry you feel the way you do about your friend's experience. I work for Primerica have been quite happy and successful. I notice your comments are all emotionally charged. You also mention that this is and MLM scam. My question to you is, did you bother to look into the company itself? How many scams do you know are regulated by the SEC, the FDIC, and the NAIC? Not to mention by each state in which they operate? How many scams have representatives that are licensed by the State in which they operate?



I would wager that you never bothered to look at the financial statements filed by the company. Nor did you bother to find out that the Company is on the NYSE and has been for many years.



Most of us in Primerica believe in giving back to our community and working within our community. If, by doing so, we meet people who have need of our services and we can help them, then why not do so. I would much rather give to my community than sit at home and never meet anybody and just make unfounded accusations about things I know nothing about.



Perhaps, if you really care about your friend, you will study the subject matter and have some factual information to present to him before not supporting him in his efforts.



Sincerely,
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#121 0

My experience with Primerica has been positive *Then why so many Rip-off Reports on this company. Click on the link below!

AUTHOR: - ()

This email is a rebuttal to RipOff #5310.

It was sent by Andy at a-msexton@home.com.



Primerica - Multi-Level Scam brainwashing, definitely another cult ..RUN AWAY! (#5310)



They filed the following rebuttal to the above Rip-Off Report:



Their email: a-msexton@home.com

Their name: Andy

Their phone number: 204-257-2402

Their relationship to the company: Supporter



Rebuttal:

Most of the comments in articles such as these are emotionally driven. I too am an emotional person. I do not believe that anyone should be forced to attend church (I currently attend church ). As far as tying Primerica to an individual, who obviously is in error, it is like saying there is nothing good in this world because we all have problems. I believe that a

Company should be judged on what potential it has to do good or bad.



Just like an investment of stocks in a company like Ford, Wal-Mart etc. The key thing for me is, has anyone been helped by this organization? Anyone can stir up conflict. There are good and bad, sometimes alarming, situations in most companies, if we really knew what was going on out there.



My experience with Primerica has been positive and I know that there are a lot of people out there who will have the same story. If a person is ethical they can be ethical in all situations because they create relationships, not clients. In this light the company should be assessed.



Get rid of the "Cracker heads" both outside and inside the

company. Then find out as much as you can. Third party information has only a limited value because it does not require a relationship with accountability.



As far as church goes, I would like to say that my experience here has been positive too and I know I'm not brainwashed. Just like business, there are many fruit cakes out there. These people do more harm to others than they care to admit.



Just remember, the truth can be intimidating at times but also brings with it certainty and a measure of comfort. If you care enough to get good reports on a business, get good information from church people you respect and have a good relationship with. You need to build a relationship first (church or business).



I will conclude my opinion with this. Banks will teach their tellers to know the fake bills by knowing the good bills better. If we all become experts at what is good, and knowing it well, what place will be given to that which is not good? None.

Respectfully,

Andy

::::::::::::end of REBUTTAL


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#122 0

My experience with Primerica has been positive *Then why so many Rip-off Reports on this company. Click on the link below!

AUTHOR: - ()

This email is a rebuttal to RipOff #5310.

It was sent by Andy at a-msexton@home.com.



Primerica - Multi-Level Scam brainwashing, definitely another cult ..RUN AWAY! (#5310)



They filed the following rebuttal to the above Rip-Off Report:



Their email: a-msexton@home.com

Their name: Andy

Their phone number: 204-257-2402

Their relationship to the company: Supporter



Rebuttal:

Most of the comments in articles such as these are emotionally driven. I too am an emotional person. I do not believe that anyone should be forced to attend church (I currently attend church ). As far as tying Primerica to an individual, who obviously is in error, it is like saying there is nothing good in this world because we all have problems. I believe that a

Company should be judged on what potential it has to do good or bad.



Just like an investment of stocks in a company like Ford, Wal-Mart etc. The key thing for me is, has anyone been helped by this organization? Anyone can stir up conflict. There are good and bad, sometimes alarming, situations in most companies, if we really knew what was going on out there.



My experience with Primerica has been positive and I know that there are a lot of people out there who will have the same story. If a person is ethical they can be ethical in all situations because they create relationships, not clients. In this light the company should be assessed.



Get rid of the "Cracker heads" both outside and inside the

company. Then find out as much as you can. Third party information has only a limited value because it does not require a relationship with accountability.



As far as church goes, I would like to say that my experience here has been positive too and I know I'm not brainwashed. Just like business, there are many fruit cakes out there. These people do more harm to others than they care to admit.



Just remember, the truth can be intimidating at times but also brings with it certainty and a measure of comfort. If you care enough to get good reports on a business, get good information from church people you respect and have a good relationship with. You need to build a relationship first (church or business).



I will conclude my opinion with this. Banks will teach their tellers to know the fake bills by knowing the good bills better. If we all become experts at what is good, and knowing it well, what place will be given to that which is not good? None.

Respectfully,

Andy

::::::::::::end of REBUTTAL


Respond to this report!
What's this?

#123 0

My experience with Primerica has been positive *Then why so many Rip-off Reports on this company. Click on the link below!

AUTHOR: - ()

This email is a rebuttal to RipOff #5310.

It was sent by Andy at a-msexton@home.com.



Primerica - Multi-Level Scam brainwashing, definitely another cult ..RUN AWAY! (#5310)



They filed the following rebuttal to the above Rip-Off Report:



Their email: a-msexton@home.com

Their name: Andy

Their phone number: 204-257-2402

Their relationship to the company: Supporter



Rebuttal:

Most of the comments in articles such as these are emotionally driven. I too am an emotional person. I do not believe that anyone should be forced to attend church (I currently attend church ). As far as tying Primerica to an individual, who obviously is in error, it is like saying there is nothing good in this world because we all have problems. I believe that a

Company should be judged on what potential it has to do good or bad.



Just like an investment of stocks in a company like Ford, Wal-Mart etc. The key thing for me is, has anyone been helped by this organization? Anyone can stir up conflict. There are good and bad, sometimes alarming, situations in most companies, if we really knew what was going on out there.



My experience with Primerica has been positive and I know that there are a lot of people out there who will have the same story. If a person is ethical they can be ethical in all situations because they create relationships, not clients. In this light the company should be assessed.



Get rid of the "Cracker heads" both outside and inside the

company. Then find out as much as you can. Third party information has only a limited value because it does not require a relationship with accountability.



As far as church goes, I would like to say that my experience here has been positive too and I know I'm not brainwashed. Just like business, there are many fruit cakes out there. These people do more harm to others than they care to admit.



Just remember, the truth can be intimidating at times but also brings with it certainty and a measure of comfort. If you care enough to get good reports on a business, get good information from church people you respect and have a good relationship with. You need to build a relationship first (church or business).



I will conclude my opinion with this. Banks will teach their tellers to know the fake bills by knowing the good bills better. If we all become experts at what is good, and knowing it well, what place will be given to that which is not good? None.

Respectfully,

Andy

::::::::::::end of REBUTTAL


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