• Report: #73907

Complaint Review: Primerica TRUSTED BUSINESS REVIEW: Primerica is a Main Street Company for Main Street North America.Primerica's mission is to help families earn more income, become properly protected, debt free and financially independent.

  • Submitted: Wed, December 03, 2003
  • Updated: Mon, May 09, 2016

  • Reported By:Greer South Carolina
Primerica TRUSTED BUSINESS REVIEW: Primerica is a Main Street Company for Main Street North America.Primerica's mission is to help families earn more income, become properly protected, debt free and financially independent.
3120 Breckinridge Blvd. Duluth, Georgia United States of America

Primerica TRUSTED BUSINESS 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.
*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.

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REVIEW UPDATE: September 14 2016 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.

Rip-off 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. [continued below]....

..... 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 Rip-off Report believe that Primerica is a solid, reliable company that stands behind their agents and its products. If you think that becoming a Primerica representative or buying a Primerica product is right for you, we would urge you to give the company careful consideration.

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..


*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 provides products and services through independent representatives. Primerica 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 Need Analysis 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. Primerica's business opportunity is attractive to people from many different backgrounds, including women, African-Americans , Hispanics and, young adults.



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.

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Ripoff Report would like to let readers know that Ripoff Report emailed this customer so the member business could make things right with them. When a business joins the Corporate Advocacy Program, Ripoff Report emails everyone from the past so the member business can make things right with them. Of course, everything within reason. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer. The author of the Ripoff Report below never responded to our offer to help them

THE ORIGINAL REPORT THAT WAS FILED IS BELOW


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

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

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

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

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

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

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

Dallas Greer, South Carolina
U.S.A.


This report was posted on Ripoff Report on 12/03/2003 03:47 PM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica-TRUSTED-BUSINESS-REVIEW-Primerica-is-a-Main-Street-Company-for-Main-Street-North-AmericaPrimericas-mission-is-to-help-families-earn-more-income-become-properly-protected-debt-free-and-financially-independent-/Duluth-Georgia-30099/Primerica-Life-Insurance-Company-ripoff-Primerica-decreasing-term-life-insurance-invest-th-73907. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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

Click Here to read other Ripoff Reports on Primerica TRUSTED BUSINESS REVIEW: Primerica is a Main Street Company for Main Street North America.Primerica's mission is to help families earn more income, become properly protected, debt free and financially independent.

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#1 Consumer Comment

A satisfied customer for over 10 years.

AUTHOR: judith44 - ()

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

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#2 Consumer Comment

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

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

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

20 years and you have been Ripped off, Really?

AUTHOR: john - (United States of America)

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

you invest the difference, not the insurance company

AUTHOR: Christine - (Canada)

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

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

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

You did not purchase a whole life policy

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

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