• Report: #154890

Complaint Review: Primerica

  • Submitted: Wed, August 24, 2005
  • Updated: Fri, January 27, 2006

  • Reported By:Allen Texas
Primerica
12700 Hillcrest Plaza Dr Dallas, Texas U.S.A.

Primerica Ripoff waste of time to turn around and tell you it costs you Dallas Texas
*UPDATE: Primerica recognized by Rip-off Report a business opportunity well worth considering - it's not for everyone but many representatives make solid commission incomes. Primerica takes appropriate action against representatives conducting themselves improperly, pledges 100% commitment to customer service.

*Consumer Comment: Robert in Modesto's claims

*Consumer Comment: Questions for Robert. How can a person be considered debt free when s/he is still on a mortgage?

*UPDATE Employee: Only complainers

*UPDATE Employee: Primerica is an MLM that requires hard work

*Consumer Comment: More ridiculous shillery - not all pyramids are illegal

*Consumer Suggestion: Once someone comes here and reads these complaints, primerica and citi can forget about doing any kind of business with that person ever again

*UPDATE Employee: really commission??

*UPDATE Employee: Primerica is an oppurtunity, not a pyramid

*Consumer Suggestion: That main company that you speak of, well, that would be citigroup. They make the primerica fraud look like small potatoes.

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EDitor's Comment: Rip-off Report Investigation: Primerica gets a POSITIVE RATING in customer support from Rip-off Report and is fulfilling its commitment to provide excellent customer service. Primerica pledges to resolve complaints and address representative issues. For a long time this EDitor had concerns about Primerica because of the number of Reports about them. For many months Rip-off Report was looking into the company, even before they contacted us to resolve any issues and mostly misunderstandings being posted by competitors. With over 100,000 representatives and 6 million clients, Primerica is bound to be the subject of a certain number of complaints about improper agent conduct, as well as product and administrative complaints. Rip-Off's investigation found such complaints, but importantly also found that Primerica is committed to resolving such complaints quickly and doing everything possible to satisfy its clients. It also takes appropriate action against any of its representatives who are found to have conducted themselves improperly or unethically. We believe that the number of complaints against this company, whether through the Internet or other channels, is small when put into the context of its enormous size. Most big companies would never commit themselves like Primerica has. Read our investigative Report and Primerica's commitment to 100% consumer satisfaction. www.primerica.com provides products and services through independent representatives. Primerica www.primerica.com has more than 100,000 licensed representatives who serve more than 6 million clients in the U.S., Canada, Puerto Rico, Spain and the United Kingdom. Through a Financial Needs Analysis www.primericafna.com, the companys representatives provide a snapshot of a familys financial picture and suggest a strategy for financial security via Primericas products and services www.primericafinancialsolutions.com. Primericas 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.


Last night I went to an interview for Primerica that I thought might be beneficial to my degree. I have a medical assistant degree, so I have been putting my resume on the internet searching for employment. Well I got a call from Primerica stating that they are a medical financial service company. I thought wow great this could be right up my alley. Well I got to the interview to find out it was a group interview. Previously that day I had called my recruiter and asked if this was a marketing, sales, or telemarketing interview of any sort. She said no, so I figured I would go. Anyways I got there and right off the bat I figured I had been lied to. Being as nice as I am I gave it the benefit of the doubt. Then I started to notice things that really didnt seem right. Like first two of the speakers were talking about their life experince with Primerica and how they helped them to get out of debt and the speakers spouse, well neither of them had a wedding ring on and the lady speaker was a little unsure of her "so called husbands name". Second, on of the "VIP" was showing a slide of people who had "worthless" jobs before Primerica and where they are now thanks to Primerica, well the guy couldn't even stay on the right line and couldn't even pronounce half of the crap he was trying to say. Then to top it off I asked my recruiter what this had to do with my medical field. She stated that people need to buy life insurance, because something could happen and they could die and in the medical field, you deal with death. That was the connection she used to get me there. The lady next to me use to do apartment leasing and her connection was that you have to buy mortgage help on a house or apartment and so since she use to lease apartments, that was her connection. Give me a break, they literally will pull anyone and anything off the street. What's funny is they state from the beginning "this is not a pyramid scheme", however you recruit people who recruit people who oh wait recruit more people and get paid for it. Pyramid---hello. Then what makes me laugh is instead of the word commission, because a lot of people do not want to work for commission, they call it "compensation", you know they tell you you'll make $1,000 for your work, its not commission, but we will "compensate" you a $1,000 for your first recruit. Please, same thing. Then about an hour into the meeting they drop the bomb on you. You can have this great job, at $199 cost to you, on the night of your meeting. Then you have to work at least 5 years before you will see any kind of "compensation" worth seeing and then you will receive $82.50 back of the original $199 you spent to give your license, oh if you train for 5 hours, and you pass the test. Not everyone passes the test. Also this is not a telemarketing company is a kitchen table marketing company. You go to people's home after 5 hours of training and tell them what to do with their money. Please I would not want some "warm body" coming to my home and telling me how to spend my money, when Ive been spending it the way I want to spend it for years. This company is a ripoff and a scam, and I wonder if the people they are supposively a branch off of know what they are doing. This company is dragging the main companies name through the mud and back again. Kayla Allen, Texas
U.S.A.

This report was posted on Ripoff Report on 08/24/2005 06:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica/Dallas-Texas/Primerica-Ripoff-waste-of-time-to-turn-around-and-tell-you-it-costs-you-Dallas-TexasUPDAT-154890. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Robert in Modesto's claims

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

Robert doesn't need to submit documents as Edwin asked. I can shed some light. To start with I am very familiar with Modesto and the agents there. My office was there from 1976-1998. The primerica office there was shut down by the Department of Insurance because of the shennigans by the two brothers that ran it. It only reopened a few years ago so Robert's claim he watched his forklift driver buddy at primeica there for 7-8 years is highly doubtful.



Secondly for Robert to pay under $100.00 for million of term for he and his wife is highly doubtful too. Robert and his wife would both have to be 22 years old to have a premium with Primerica that totalled one million in 20 year term insurance. The rest of his story makes you believe he is close to 40.



My opinion is Robert made up the whole story.
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#2 Consumer Comment

Questions for Robert. How can a person be considered debt free when s/he is still on a mortgage?

AUTHOR: Edwin - (Canada)

Robert, can you please elaborate on one statement? I was confused when you claim to be debt free, yet you also say your mortgage will be paid off in 8 years. How can a person be considered debt free when s/he is still on a mortgage?



I have no idea how valid are your other claims on your report (would be helpful if you can submit documents to back up your claims. Without valid documents, readers will never know whether your claims are true or fairy tales), but I want to let you know that if you go to the ripoff report main page and do a search on Primerica, it list all reports filled against the company and also say how many of them there are in total. It doesn't require a person to manually count the total number of complaints. How did you even come up with the logic that the person has too much time on his hands?
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#3 UPDATE Employee

Only complainers

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

I am going through reading some of these ridiculous messages and one I came across claimed there are over 450 complaints about Primerica. Well first, you have too much time on your hands to know how many complaints there are. Secondly, the only people who will take the time out to post remarks on this site about Primerica are those who are dissatisfied with the company in some way. You really don't expect the happy satisfied people to respond or post on these sites. But let me one of them that will.



I avoided joining this company for 10 years when my friend tried to recruit me. I was in a very good carreer with great benefits and I loved what I did. He was a fork lift driver. I also have a BA in business finance, so I am no "dummy" or "uneducated" person like someone described all PFS reps. My friend was a fork lift driver, and over the years I watched him become wealthy in PFS. Today he earns well over $500k a year. After 8 years of wathcing him, I decided to take a look at the company. Yes it all sounded too good to be true, so I did not sign up right away. I did, however, asked him to do a plan for me. Here WAS my situation; $65k in debt, a 29 year mortgage, a total of $500k in life insurance I was paying $450 a month for (VUL) from a "reputable' company, and a 40k at work. After PFS did my plan, today I am debt free (for 2 years now), my mortgage will be completely paid off in 8 more years (taking the money that was freed up by consolidating them and applying it to the principle of my mortgage), I now have over $1 million dollars in term insurance for my family that I spend less than $100 a month for, I am saving the $350 that was saved from my life insurance program and have it in a ROTH IRA with Fidelity (one of the 13 funds offered by PFS), $10,000 cash in a money market account for emergencies, and have a will, living will, and durable power of attourney in affect. My financial life is great. I have no financial stresses. I don't feel like I am living paycheck to paycheck life I had been feeling for the last 13 years of my life before Primerica. Primerica was NOT the first financial service company I have sat down with. "Chuck" did not do any of this when I held my investments with them nor did the so called "reputable" insurance company I had my life insurance with, nor did my 401k administrator. So there it is, a true testimony on how this company helped me and my family. And yes, after that, I did join the company because I saw that they offer real solutions to a real problem, debt and lack of savings (just read your local news paper). I have been with PFS for 3 years now. I recently went full time, and yes I am making more money with them then I did in my 13 year career. As a matter of fact I was making about the same amount in PFS on a part time basis that I was making on my full time job. I am now full time with PFS. I have helped over 300 families, and of those families, about 5 were dissatisfied with me and PFS. And ALL were dissatisfied because they read things like these comments on sites like this not the work that was done for them.



If anyone have any questions about this company, feel free to email me. I promise, I will NOT try to "recruit" you. I will give you honest feed back about the company and what they do.



(((REDACTED)))
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#4 UPDATE Employee

Primerica is an MLM that requires hard work

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

It is true that Primerica is an MLM, multi-level marketing, program. And, it is true that most people that start with Primerica will never earn any money what-so-ever.



Only between 5-10% of all agents will earn more than $50,000. But, most people quit early on. Currently, we average 20,000 new recruits each month, which makes 240,000 recruits each year. But, our ranks only grow by approximately 2,000 per year.



Let us go over costs again:

The initial investment is $199, which is must less than any other business that one might want to start. A Dairy Queen franchise requires +$200K. A small reseller of used clothing requires a store front that leases for +$1500 per month. Primerica's $199 is extremely reasonable. The $199 covers a $40 background check to ensure that one can sell insurance in one's home state. The additional $159 covers the cost of insurance licensing course and materials. One does have the option of only paying the $40, and then take a course at a local college of technical school. But, that tends to cost much more than $159. No one earns $1000 for each new recruit that they bring in. A recruit can bring the potential of $1000 in overrides; but most recruits are non-producing quitters as the statistics above demonstrate.



Additional costs include the exam fee and state license application fee. These additional fees are reimbursed within 2 months after Primerica receives and approves the license. But, if you need to take the exam more than once, the failed attempts are your expense so, study before hand.



As an independent agent, one is responsible for purchasing all of one's own supplies. But, again, this is much less than purchasing a store's inventory or even the cost of tools if one wants to work as a mechanic. Primerica makes it very cost effective to become self employed. But, by being self employed one must be responsible to produce one's own income or to accept responsibility for the lack of production.



The fact is most people come to Primerica looking for a full time career. And, most people that complain at this site complain that they did not find the full time career that they had hoped to find. But, Primerica is not designed for most of its agents to be full time agents. Very few positions warrant full time status. The role of representative is meant to be, and even designed to be, part-time.



The largest numbers of recruits enter this program with the belief that they will quickly move up to a full time position. But, the numbers tell a different story. Most full time representative took several years of very hard work to achieve their position. But, most people will not work that hard to achieve those positions.



Primerica is intended to work like Avon, Tupperware, and other MLMs. You are to continue working at whatever job you had, selling the occasional financial product to your peers. For those who pursue this type of Primerica business, they receive a nice supplementary income to their regular income. And, these agents are very happy.



It is wrong, however, to think that you can get a top income while putting in low effort. One must decide if you are pursuing a part time income or you are going to work extremely hard to satisfy your ambition. Most people lack the discipline it takes to be self employed. And, most people refuse to offer the immediate sacrifices necessary to achieve long term success as an independent agent. Working with little or no pay for several months is a sacrifice most people are unwilling to make.



Primerica is not easy. Unfortunately, most of these complaints feel that it should be easy. Primerica does not offer a free business, complete with loyal customers. People complain that Primerica should have offered them a private office with a steady stream of clients. What Primerica offers is a framework within which a person can work hard to develop his own loyal customer base.



It takes several years of hard work to accomplish this goal. People must be in some kind of La-La Land to think it will come extremely easy after just a few short months, weeks, or even worse mere days.
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#5 Consumer Comment

More ridiculous shillery - not all pyramids are illegal

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

A few comments on some lines from Patrick's above rebuttal:



1) "Pyramids first and foremost are illegal, becuase there's no product being marketed."



Not entirely true on either account. First of all, not all pyramids are illegal. There are many organizations in operation that are clearly pyramid schemes, but don't meet the LEGAL definition thereof. The legal definition is very narrow, and is designed to capture only the most egregious of offenders, but it doesn't accurately reflect the common definition of a pyramid scheme, just like the legal definition of insanity fails to capture some of the craziest people out there. Furthermore, even an illegal pyramid scheme can have products. Amway was the original illegal pyramid scheme in the 70s, and they were selling products.



2) "Maybe you need to pick up the July 2005 issue of Success Magazine, because the whole magazine is dedicated to Primerica Financial Services"



And why would a magazine commit an entire issue to a single company? Could it be because Success Magazine is nothing but a paid endorser for pyramid schemes? From what I have seen, every issue of that magazine is devoted entirely to one company. And guess what! Those companies PAY to be featured! Success Magazine is a trustworthy source of information like Michael Jackson is a trustworthy babysitter.



3) "I know that Success Magazine would'nt dedicate a whole magazine to a pyramid or a scam."



That's all that Success Magazine does!



4) "See, in Primerica, you make money when the people you bring in, are doing the same thing your doing"



THAT'S THE VERY DEFINITION OF A PYRAMID SCHEME!



5) "This is a company that gets to the kitchen table"



Yeah, your mom's kitchen table.



6) "Your talking about spending your money the way you want to? Good luck, because at some point your going to want to retire, unless you want to still be working at 65?"



That would be a valid point if it weren't completely belied by the reality, which is that the average Primerican will have to work well into his hundreds to have enough money to retire. Kind of silly to use a fear tactic to sucker somebody into a situation that's far worse than what you have told them to fear, isn't it?



7) "This is financial services lady, the Real McCoy, not no buy a business kit or selling juice"



Juice, vacuum cleaners, makeup, life insurance, whatever. It's all just one form of door-to-door marketing or another.



8) "so you and your family aren't like the millions filing bankrupcy, thinking that's going to get you out of debt!"



Um, do you know what bankruptcy is? Bankruptcy can erase all of your debts in as little as three months. How long does it take a Primerica client to get out of debt? Do you ever advise clients that bankruptcy may be their best option? Because I would bet that, for many of them, it is.



9) "My family buried my Grandfather on short notice, trying to round up 5,800.00 dollars in 7 days, it's not cool"



No life insurance policy pays out within 7 days of death.
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#6 Consumer Suggestion

Once someone comes here and reads these complaints, primerica and citi can forget about doing any kind of business with that person ever again

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

If you search for primerica here, you will find over 450 different pages of complaints. And, many of the pages have multiple victims and comments on them. You are talking about hours and hours of reading. You could start and do a page ever 5 minutes. That's 12 per hour. You'd still need about 40 hours just to read them all. Actually, I don't even think that would be enough, because many of the complaints are long and involved. No way that you'd read the whole page in just 5 minutes.



And, that's just this site. Ripoffreport. What about the whole internet in general? It's just filled with one complaint after another about citi ripping off someone or being involved in a major scam. As soon as you search for enron or worldcom, you find the citi name, right there in your face.



Citi has had to pay major money for all their scams. But, so far it's just the cost of doing business to them. Steal 100 billion, pay a 20 billion fine. The cost of doing business.



Here's what I can't understand. You're talking about one of the biggest cons on the face of the earth, right? And, out of all the people who work there, who do they send here to file rebuttal comments? Guys like Patrick who claim primerica is an oppurtunity. What's the matter, they don't have spell check on their computers?



Here's the thing. Who do these people think they're fooling? Do they actually think they by coming here they are going to convince anyone to come on back and give the primerica scam a try? Hell, the whole fraud is laid out in excruciating detail. One victim after another explains how he or she was told to come in for a manager's position only to find that there is no job, only a vague business opportunity.



Hell, even the people who have went on to get the license and give the whole thing a try have found out that there is no hundred grand income like they were told. One person after another has come here to report that they barely made hamburger money.



So, both primerica and citi have no credibility here! Zero. None. No matter what they want to come here and claim, nobody is ever going to change their minds and go back. Once the potential victim reads just a small fraction of the complaints here, the scam is over for them. They will quit and never go back.



So, why even bother trying? Obviously, primerica lives in a fantasy world. They actually are so caught up in their live the dream nonsense. Here's the thing. They just look like fools. Nobody believes them. They can come here until the cows come home and still, nobody will ever believe them.



In fact, by coming here, the idiots from the company actually make the situation worse. You see, each new comment places the complaint right back up at the top of the new additions for that day. So, a first time reader may never have heard about primerica before. But, because the idiot had to get his two cents in, they will see the new addition and be able to read all about it.



Another problem is that the search engines target any site with new activity. So, by coming here and filing rebuttals, the frauds are sure to move each complaint up in the search engine listings. So, whenever someone googles primerica, these complaints come up right on the first page. In other words, any time someone checks the internet, they will see that primerica is a fraud.



Now, in this day and age, who do you know that gets involved in a new business opportunity without checking the internet? Nobody!



You'd think that a company that claims to be the world's largest would understand search engines, right? After all, they could hire a webmaster to explain it all to them. Then, they would understand that the best thing they could do would be to shut up and not add fuel to the internet fire.



You really have to wonder about a company that claims to be the world's largest, when they can't even understand how the internet works. And, they can't understand human nature. They actually think they can come here and change people's minds.



When I look at their actions, I know that this is not a company that I'd trust to handle anything important.



Clearly, they should take some of their stolen money and use it to hire a public relations firm that can help them deal with all the accusations of fraud they have all over the internet. Let a professional handle the job, instead of sending someone like Patrick with his oppurtunity silliness.
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#7 UPDATE Employee

really commission??

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

Quote: Then you have to work at least 5 years before you will see any kind of "compensation" worth seeing and then you will receive $82.50 back of the original $199 you spent to give your license, oh if you train for 5 hours, and you pass the test.



I trained I passed....so where's my money??

In fact getting my license cost me even more money 1.taking the test and 2.filing with the state. They don't tell you this beforehand.

I haven't seen a penny since day 1.

Oh..oops not been 5 years....well screw that.



By the way. I did get reinbursed only after lawsuits and filing with the better business bureau.
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#8 UPDATE Employee

Primerica is an oppurtunity, not a pyramid

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

Primerica is not a pyramid or a scam. Pyramids first and foremost are illegal, becuase there's no product being marketed. Primerica Financial Services, falls under the Insurance Services category, the second most regulated industry in the U.S. to Nuclear Waste. Whoever recruited you should've been real about who we are and what we do!



Primerica is apart of the Citigroup family, the No.1 company in the world, right now as we speak. Maybe you need to pick up the July 2005 issue of Success Magazine, because the whole magazine is dedicated to Primerica Financial Services, I'm not talking an article, I'm talking a whole magazine, dedicated to what we do, and I know that Success Magazine would'nt dedicate a whole magazine to a pyramid or a scam.



See, in Primerica, you make money when the people you bring in, are doing the same thing your doing, which is helping a family, but the money the company gives you doesn't come out of the other persons pocket, it's comes from the company as a bonus for bringing that person in, not a scam, or pyramid, but profit sharing. Same thing musicians do when they bring other talent into the company, but it's not a scam then.



This is a company that gets to the kitchen table, and that's needed because I'm from Detroit and in my 27 years of being on earth, I don't ever remember any financial company coming to our house talking about finances, because the middle and lower class famalies are the most underserved families when it comes to finance, and the companies that get on TV and advertise, are targeting the upper class and the rich.



See when you come and sit at someones kitchen table, where their family eats, it gets personal and hopefully something will hit home for them to make them take action and take control of their financial situation. Your talking about spending your money the way you want to? Good luck, because at some point your going to want to retire, unless you want to still be working at 65?



This is financial services lady, the Real McCoy, not no buy a business kit or selling juice. I hope you learned something and schooled your family on the importance of having your finances right and credit in order, so you and your family aren't like the millions filing bankrupcy, thinking that's going to get you out of debt! No one on Wheel of Fortune wants to go Bankrupt, but everyone in America flies to it because they spend their money the way they want to and the moment times get hard, their a check away from financial devistation, because they didn't listen.



Hopefully you took advantage of the insurance or insurance from another company at least, so when you pass away, because everyone is going to die, they just don't know when, your family can bury you without having to have a money meeting with the family, passing the hat around, because the average cost of a funeral is 6,000.00 My family buried my Grandfather on short notice, trying to round up 5,800.00 dollars in 7 days, it's not cool. Lord forbid you have children, whaht will you leave them with, an inheritance, so they don't have to worry about college, or another broke generation, like the majority.



Sorry that the person that recruited you sold you a bad bill of goods, but Primerica is the truth, make no mistake about it.
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#9 Consumer Suggestion

That main company that you speak of, well, that would be citigroup. They make the primerica fraud look like small potatoes.

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

All primerica does is con people into attending stupid meetings where the losers preach from storybooks about tales of success and unimaginable wealth.



At worst, they sell a bunch of poor, uneducated victims junk life insurance at much higher prices than the more honest companies.



But all that pales in comparison to Citicorp. Here, see for yourself.



Search google for worldcom+citi.



Then, do the same for enron+citi.



You especially want to read the report in Business week magazine outlining citi's role in the enron scam. One professor at the Harvard School of Business who looked into the matter claims that "It looks like an updated Ponzi scheme -- more sophisticated than the original."



In other words, show me any scam or fraud that affects all Americans or even many of the industrialized nations around the world. Give me the name of that scam, and I can already tell you the name of the bank that is behind it.



How do you think citi managed to steal all their money? They sure as hell ain't running an envelope-stuffing scheme. That much I can tell you!



Any time you have fraud that affects the nation as a whole; we're talking billions of dollars here. They dream up new fraud everyday in their corporate offices. They call it business as usual.



Now you know the real story behind those funny ads you see about money ain't everything on billboards around the country.



You might want to think twice before you take out that citi credit card or apply for one of their mortgages. Unless, of course, you don't mind being another one of their victims.



Trust me, the nickel and dime nonsense that primerica does is nothing compared to the next multi-billion dollar scams that citi has cooked up and is about to unleash on the unsuspecting people of this country.
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