• Report: #190958

Complaint Review: Primerica

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  • Submitted: Wed, May 10, 2006
  • Updated: Thu, June 22, 2006

  • Reported By:Gresham Oregon
Primerica
3120 Breckinridge Blvd. Duluth, Georgia U.S.A.

Primerica, ripping off the religious, taking advantage of the uneducated, ripoff Duluth Georgia
*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: Cat

*UPDATE Employee: Why people HATE Primerica

*Consumer Comment: Joshua displays he doesn't know primerica myth from facts

*UPDATE Employee: My final Word.

*Consumer Comment: Joshua continues to chant the myths

*Consumer Comment: Josh

*Consumer Comment: Josh

*Consumer Comment: Josh

*Consumer Comment: Josh

*UPDATE EX-employee responds: Rebutting Josh (Oviedo)

*Consumer Suggestion: dimwitted josh the crimerica puppet

*UPDATE Employee: In Addition to Leeroy

*UPDATE Employee: Leeroy the Cynic!

*Consumer Comment: Joshua, repeating the myths

*UPDATE Employee: You act surprised that people want to help you?

*Consumer Comment: Stuart- 2nd attempt at a response

*UPDATE EX-employee responds: Question

*Consumer Comment: Response to Brian. Primerica is an MLM. Unlike other forms of business which try to build consumer recognition and brand loyalty an MLM simply needs new cannon fodder to succeed

*Consumer Comment: Aaron. Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

*Consumer Comment: Aaron. Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

*Consumer Comment: Aaron. Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

*Consumer Comment: Aaron. Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

*Consumer Suggestion: Every company will have customer service issues.

*Consumer Comment: Eveyone Want's to Be A Critic

*Consumer Suggestion: Gary, you're joking, right?

*Consumer Comment: Gary and recruiting

*UPDATE Employee: Pants on Fire

*Consumer Comment: Joanne...yes!

*Consumer Comment: Are Primerica techniques same from state to state?

*Consumer Comment: My friend is also being taken advantage of

*Consumer Comment: Hi Gary

*UPDATE Employee: To Annie in New Orleans Edwin in Canada

*Consumer Suggestion: Gary in Wichita I Believe You Are An Anomoly

*Consumer Comment: Answering Gary's points

*UPDATE Employee: Hi Annie in New Orleans....

*UPDATE Employee: Hi Annie in New Orleans....

*UPDATE Employee: Hi Annie in New Orleans....

*UPDATE Employee: Hi Annie in New Orleans....

*Consumer Comment: Gary, you're spinning...

*Consumer Comment: Gary AGAIN incorrectly states Primerica is a 'division" of Citigroup

*Consumer Suggestion: L - Listen to your gut instincts

*UPDATE Employee: Hi L in Gresham, OR

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Recently I was approached by a young couple recruiting for Primerica, the woman was pregnant and they had their two year old daughter with them. They approached me while I was selling my artwork at an art fair in Troutdale, Oregon. The woman commented on some of the cards I had made that quoted scripture from the Bible, then she asked me if my artwork was my main sorce of income.

Actually I sell my art on the internet and at two monthly fairs, along with a part time job doing paperwork on my home computer for a trucking company so that I can stay home with my daughter.

The woman and I conversed on the cost of raising children and she brought up the subject of her own business. She was extremely vague, only really saying that she worked in the Financial field. She promoted her company as a good choice for stay at home mothers looking to make a few extra dollars to support their family.

I was somewhat interested so I set up an appointment to meet her for coffee. She didn't show up due to illness, but sent along her husband. He was a very nice and charming man and he showed me several professional looking brochures and explained in vague terms what Primerica does and what I would do as a representative. He bought me coffee, and bought a juice for my two year old who I had brought along.

The more he talked about the hard work involved, the recruiting, the meetings, and so forth the more I relised that this company is absolutely not a good idea for anyone that wants to spend any quality time with their children.

However, he sounded very convincing about how much extra income potential Primerica could bring to my family. He said that it was normal to be a little hesitant and he assured me that he and his wife would go with me on my first recruiting attempts as support.

Then he told me I should go to their next meeting at an office in a mall on Saturday. When I told him I had difficulties traveling that far away he told me that his wife and he would pick me up at my home at 8am and get me home by 1pm. He told me I would need to find a baby sitter. This didn't sit well with wish to be a stay at home mother who is very involved in the raising of her child. Still, he convinced me to attempt to find a sitter and I agreed to be picked up Sat.

While I gave him my information to be contacted and picked up, with my phone number and my home address, he or she never once gave me their phone number or a way to contact them for information or to cancel.

Once I got home I immediatly googled Primerica, and wouldn't you know it, the second link given after Primerica's website itself was the link for this website at ripoffreport.com ..that was my first major red flag.

I began to research this company, reading posts from current and ex employees and others. Most of what I found was extremely negative. I also read the text of a lawsuit that was filed against them after an investigation in the 90s that resulted in a $175,000 civil money penalty awarded to the US Treasury.

During my research into their company I learned about the fee of $199 that is charged for their "training" and literature. Something that was never mentioned by either the wife or husband in either of my two meetings with them. A fee that I could never pay since I can barely afford to feed and cloth my child and myself as it is. I also learned in my research that I would not earn any significant amount of money without being licensed. Something that brings an additional cost. Being licensed was also never mentioned in either encounter.

The woman representative had touched on religion in our first encounter, and I've since read reports that many of the meetings for Primerica around the nation have also had religious overtones. Because of this I consulted my bible and biblegateway.com about what God might say about this company and its practices. Did you know that the words insurance and insure are not mentioned in the Bible?

In fact the Bible encourages people to not worry about their worldly future. Matthew 6:24-34 and Psalm 56:3-4 and 1 Peter 5:6-11 are just a few places in the Bible that encourage us to bring our anxiety to God and trust in Him. Isn't buying insurance kind of like saying you only trust in God just so far. Like saying, just in case God doesn't take care of me I'll set aside this money. I suppose Primerica would rather I invest in their products than tithe to my church.

After my research into Primerica I felt very ripped off and outraged at how they were ripping other people off. I feel like I was robbed of an afternoon that I could have otherwise used to actually earn my family some money instead of just hearing about an opportunity to make money that would probably never pan out anyway.

(Note: Please excuse any typos, I'm trying to type around a wiggly toddler)

L.
Gresham, Oregon
U.S.A.

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This report was posted on Ripoff Report on 05/10/2006 07:56 PM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica/Duluth-Georgia-30099-0001/Primerica-ripping-off-the-religious-taking-advantage-of-the-uneducated-ripoff-Duluth-Ge-190958. 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

Cat

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

Does your compassion for clients mean you don't sell females primerica term insurance that is almost double in cost from other better known, higher rated companies?

Does compassion for clients mean you feed them nonsense about loans like "interest rates don't matter".?

Does compassion for clients mean you repeat the lies and distortions in the canned sales pitch like "you have to borrow your own money from a cash value policy"?

It boils down to these things;

1. primerica charges everyone to much for term insurance. Women are singled out for especially bad rates as are smokers. People with diabetes are turned away when other companies will write them for good rates if they are under control.

2. The not-so-SMART loan primerica peddles uses all the same jargon and tactics jack Guttenberg warns about in his book about mortgages. On pages 112-123 he details the things scammers do to people on mortgages and it sounds like it came directly from primerica's loan sales presentation.
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#2 UPDATE Employee

Why people HATE Primerica

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

Ask yourself WHY people HATE Primerica.

There are only two categories of people who hate Primerica:

1. Representatives who've left the co. who didn't feel supported or appreciated in their indiv. offices, OR those who didn't work hard and follow instruction. The latter wanted "get rich quick" and Primerica is NOT that.

2. Competitors who benefit financially from taking business away from Primerica.

Which anti-Primerica types are posting MOST on Rip-Off? Real people who get ripped off? Or just people who want to burn Primerica?

My husband and I run our own Primerica office, we're legitimate businesspeople helping our clients have better lives. My hubby and I get to work together and take days off to spend with family--it's a wonderful business when run with compassion for clients and good business sense!
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#3 Consumer Comment

Joshua displays he doesn't know primerica myth from facts

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

First Joshua says "primerica term offers A+++ quality" and infers that is why its overpriced.

<<< What quality Joshua? What makes primerica term any better than anyone else? Primerica claims they are the only ones to attach a Terminal Illness Rider to its policy at no extra charge. EVERYONE does it at no charge. . Not everyone offers it, but ALL who do make no separate charge. Plus all the TIR riders I have seen are for 50% or more of the death benefit...not 25%.


Primerica term isn't better because of its conversion option. Other companies allow you to convert to universal or whole life should your circunmstances change...primerica doesn't. By the way Josh, did you know primerica still has a bunch of old whole life policies on its books? Go ahead and try to replace one with term. See what home office reaction is.
....

Joshua dismisses the fact primerica charges females almost twice what everyone else does and says "its how we do it. what else can I say?".
<<< How about "I promise to never ripoff a female by selling her primerica term insurance"
....

Joshua- says Term is always better than whole life.

<<< IT DEPENDS!!!!! It depends on the situation. My own estimation is that term is better in about 90% of the situations. Only an idealogue with no traing would say anything is best 100% of the time.
....

Joshua repeats the primerica myth that the only reason whole life gets sold is because of the commissions.

<<< here is the real deal Joshua. If after doing factfinding a family indicates it can only pay a certain amount for life insurance.....THE COMMISSION TO THE AGENT WILL BE ABOUT THE SAME REGARDLESS OF WHETHER TERM OR WHOLE LIFE GETS SOLD!!!!!! A $75 a month premium commitment will net an agent between $720 to $900 commission whether whole life or term is purchased. primerica lied to you. What else did they lie about?
....

Joshua says "who would want whole life on a limited income?'

<<< The main type of consumer who wants whole life on a limited income is an elderly person who wants a small burial policy. There is no way in hell you will convince a 76 year old living on soc. security to invest in the stock market. They want a little policy so that they are not a burden on their family when they die. They could give a rat's behind less about the returns on the cash values.
.....

Joshua says "who needs a policy that will pay them $1 million when they can have it in investments instead".


<<<< Anyone who needs $1 million cash to come immediately to the family, income and estate tax free, at the time of death, and free of the probate process, thats who!

A life insurance policy inside an Irrevocable Life Ins. Trust does just that. Mutual funds, stocks and real estate can get crushed by taxes at death. The $1 million can quickly turn into $300,000.
....

Joshua says "The only time a person needs life insurance is when they are young, have debt, and no savings". In other words Joshua is reciting the nonsensical Theory of Diminishing Responsibility.

<<< I agree with you, Someone young, in debt, with no savings, should own a giant wad of reasonably priced term insurance (that leaves primerica out). However, the THEORY of Diminishing responsibilty is just that....a THEORY. In real life it rarely works. People in their 50s and 60s are continually taking on new responsibilities, like the vacation or dream home. They retire from a job with a corporation and start a business. The corpration they worked for goes belly up and wipes out their pension....like the factory workers in a small town in Ohio who's plant was bought by a Citigroup subsidiary who immediately raided the pension plan, then closed shop. Life doesn't progress in a straight line like fastball. Life is full of curves and changeups. Flexible financial planning is needed Thats why term insurance with optional coversion to a good whole life is far preferable to a term that has no conversion option. Since the ones with good conversion options can be purchased for far less than primerica charges, why buy primerica?


Joshua asks what I know firsthand of primerica.

<<< I have seen primericans say and do the dumbest things under the sun...things that hurt people. I'll just give 2 examples. 1 told his father-in-law with the rare blood disorder to drop his universal life and buy term insurance. Father-in-law didn't, paid premiums two more years then died. I saw a primerican tell a man with Second-To-Die life insurance inside an Irrevobale Life Insurance Trust to drop it and buy term insurance + mutual funds. The agent didn't know til I told him that if the client did that at death both the life insurance and the mutual funds would get estate taxed at 55%, plus the mutual funds would have a capital gains tax on top of it. I even saw one inflict a not-so-$MART loan on his parents. I could write a book of primerica agents dumbass statements and recommendations.


Joshua mentions someone writing an ABC book about money.

<<< was this the same guy who the Insurance Commissioner of Pennsylvania discovered was commissioned by A.L. Williams to write a favorable book about the company? I forget.
....

Joshua says he did a $MART loans for his parents.

<<< YOU DID WHAT???????????? MAY GOD FORGIVE YOU. tell you what Joshua...now that you know what the yearly amount your poor parents will pay for that loan....go get a quote for them from someone else. Plug in the SAME YEARLY payment into their interest rate. You can go online to find out how much more quickly it will pay off the loan than the not-so-$MART loan. Here let me predict. If your parents pay the same monthly amount to the new mortgage they will trim about 3.5 YEARS off their loan compared to the primerica loan. On a $250,000 loan thats about $87,000. Thats how much you cost your parents with your own gullibility and lack of intellectual curosity. In fact, supply me the numbers and I'll do it for you.


Joshua says no one will make the 13th house payment per year to equal a a biweekly plan because of lack of discipline.

<<<< Congrats Joshua. That is EXACTLY the same argument whole life salesmen use when they debate buying term and investing the difference. You're no different from them!!!!!


Joshua states primerica is the only company that doesn't charge for a biweekly payment plan.

<<< Big deal! Once again had you shown any intellectual curiosity you'd quickly find out that the $395 typically charged to setup a biweekly plan (I agree thats a ripoff) is made up in ONE MONTH when the competing loan has an interst rate 1.5% lower than primerica.
....

Joshua gives the WRONG ANSWER to two simple, elementary questions that ANY loan officer should know before ever advising anyone about a loan.

<<< a.) The Rule of 78 calculates how much interest is paid in the early part of a loan as compared to later in the loan. In the first 1/12th of the loan (2.5 years on a 30 year loan)
the consumer will pay 12/78ths of the interest. In the next 12th he will pay 11/78ths, so forth and so on.

b.) Joshua was asked the maximum amount of difference in interest paid between a scheduled interest mortgage and simple interest. I gave him two hints. He answered "ITS A HUGE DIFFERENCE". No Joshua. Its 29 days of interest ....twenty nine days. Don't matter a lick whether its bi-weekly, tri-weekly or whetever. If there is a 1.5% difference in the interest rate the maximum difference is made up within 5 months. After that its gravy for the consumer.


Joshua was asked why the statement "You have to borrow your own money from a life insurance policy" is false.

<<<< Joshua gave no answer. He doesn't know.


Joshua states primerica would pay its newbie reps commission for their "warm market sales if they could".

>>>> BULLPUCKEY Joshua! All that would be necessary for primerica to do that would be to wait til the newbie had his license before going out on training appointments....LIKE EVERY OTHER COMPANY IN THE INDUSTRY DOES!!!!!!!!!! Honestly, your gullibility and lack of intellectual curiosity make you a menace...as your poor parents will someday find out.


Joshua states that the results of every Financial Needs Analysis (FNA) is different.
<<<< True Joshua. Some say you need $200,000 of overpriced primerica term while others say you need $215,000 of overpriced primerica term. Some say you should invest $45 a month in loaded Legg Mason mutual funds while other say that should be $50 a month in loaded legg mason funds. Some say you should refinance your existing 6.0% loan for a mere $8,000 in fees and charges while another FNA says $8,250. Its bacon and scarmbled eggs Joshua. The only difference between two servings of it are how many slices of bacon and how many eggs.
.....

Joshua says "he enjoys helping the helpless"
<<<< Me too Joshua...thats why I enjoy posting here. I like to help the helpless brainwashed primerica newbies, like yourself, see the light of day. I like to cut through the propaganda that those with a lack of intellectual curiosity fall for. Failing that I know for a fact others see what I write so they are far more able to tell Cousin Larry, the newbie primerica rep "thanks but no thanks. I'll use a professional instead".

p.s- you did a $MART loan to your parents. SHAME!!!!!
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#4 UPDATE Employee

My final Word.

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

First of all, you all make some silly assumptions. You assume that you know the hearts and minds of everyone that joins Primerica. You assume because we all start somewhere that we will never gain the knowledge necessary to make well informed decisions. You assume that we are out to exploit people rather than help them. You assume that we are unethical with hearts such as yourselves.

Our Term is NOT overpriced for the A+++ quality that we offer. Yes you could get females a cheaper rate I am sure, but I am sorry that is not how our company calculates them, what else can I say? We are not the most expensive either and many things decide the quality from claim volumn, actual payouts and longevity of the company, but I can tell you that Term Insurance is by far, BY FAR, a better product than whole life, PERIOD. I know you make really good commission on those whole life policies and I am willing to bet money that as a "well informed" financial planner you would never take one of those policies for yourself on a limited income. Who needs a policy saying your worth 1,000,000 dead when you can save properly and have 1,000,000 by retirement regardless if you die or live. Insurance is only necessary for a portion of your life while you are young and have massive debt and no savings. But, its no surprise that you brag about everything you make in commission, because you have no problem exploiting the same uneducated and unexperienced that you claim we do. Point and case, the reason why we are needed is to educate clients and based on that knowledge they can do business with us or take their new found knowledge (and licenses for that matter) and do more research and go elsewhere. See you'd like to imagine that we are just these cheap sales people, but i guarantee you that we save customers thousands and thousands of dollars and give them hope when they had none. But since you've never actualy worked for us what would you know? Seriously, what would you actually know first hand?

Most reps that come aboard do not have the discipline nor drive to be coachable and learn something that they've never done before. There is nothing wrong with that, its part of life, people can change their mind. Many people throughout college either don't know what they want to do or don't end up working in the field they thought they would want to. So I am never surprised to see people not stick it out regardless of the help we offer. Our organization does have some religious overtones which I am not ashamed of, but as you can understand some people are uncomfortable with that. Many of our meetings are pumped up and full of excitement about what we do, some people may not be comfortable with that. So, my point is, there are people that are looking for an excuse for not to try something new, which is why someone would come here to weight only negative reports instead of doing searches and finding the other thousand positive ones. The ABC's Of Making Money by Dr. Denis Cauvier and Alan Lysaght (hmmm educated?), quoted our great company as having all 15 criteria that they would foresee a company to need to be successful and build personal wealth overtime. Read it and check it out.

I have done a SMART loan for my mother and step dad. We calculated by the biweekly program, it would save them roughly 300,000 in interest by the end of the loan, not bad eh? You guys mention that it is the same as making a 13th payment, sure it is, BUT how many people are disciplined or educated for that matter to make that decision by themselves? I would say out of 10 middle income family only 1 (and that's being generous) would actually save the money necessary to do that during the holiday season. There are other companies that do Biweekly as well, we are not the only one, but most if not all of them (i haven't come across one yet) that doesn't charge extra for that service where we do not. And there is a HUGE difference between Biweekly payments and interest that is recalculated Biweekly. Depending also on how much money they have to work with, we also encourage them to start a home savings account that can possibly (since no high yielding security can be guaranteed) to out perform their interest rate on the loan so that with that acceleration can pay off the loan even quicker. About the interest rate, with biweekly the higher interest rate is better than a low interest rate without biweekly. If a customer had a low interest rate and made a 13th payment that's a good way to do it, but as i said a majority of people don't have the knowledge nor do they have the discipline. And i am aware of the Rule of 78, its a difference in how loan interest is calculated, simply put, simple interest loans are better. If someone had a Rule of 78 loan a lot of times once you consider the prepayment penalties it would not always be in their interest to refinance at that time.

It would be very very difficult to effectively train someone without taking them into the field and showing them. A warm market is best because they are more patient and are potential recruits for that rep. It is ILLEGAL to pay someone who isn't licensed so we would pay them if we could. But if a rep depends SOLELY on his warm market it will eventually be used up and if he/she hasn't learned the business or doesn't learn to have people skills they won't thrive in the business. We do have scholarships to reimburse people once they do get their licenses and some offices do that part differently and eventually when the rep is licensed all clients rollover to that rep. I personally will be very generous with my recruits because i too am sympathetic to that situation. Recruits will only get out of their training what they put into it. If they are coachable and have a strong RVP to support them, they should be successful. But people quit on themselves long before anyone else does and that we unfortunately can't control.

You have to understand that everyone that has a Primerica business is independently owned. Outside of breaking the law or Primerica's ethical policies, agents have freedom to recruit differently. I don't personally condone or agree with all their techniques, but then again, its not required for me to. All you independent brokers/agents that come here to bash us are the same people I gladly compete against because if this is how you talk to me being inside the industry then an unsuspecting customer stands no chance against you outside the industry. You like to take half truths and twist them to fit your agenda. I've CLEARLY stated that we are not the ONLY company that does what we do and we do NOT NECESSARILY end up being the cheapest of products, but our products are GREAT quality and service to the clients who have them. I couldn't have said it better than you Leeroy, "It Depends", every customer is different and every customer's FNA is different. It is not as cookie cutter as you would like. The only thing cookie cutter is the basic principles that the wealthy go by. Buy Term and Invest the Difference. Whether with Primerica or with another company, we have the hope that the education our clients and potential clients learn will help them make independent and wise decisions in the future to where they wouldn't need me to advise them period, but i can say that and happy be about it because i didn't get into this part-time for just the money (i could make a lot of money at a lot of places) i enjoy helping the helpless. Since further debate won't change either of our minds I'll conclude with this final word. May everything you do, do with a clear conscience, for one day both great and small will stand before the Lord and give an account. God bless you all regardless.
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#5 Consumer Comment

Joshua continues to chant the myths

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

Let's get this straight......primerica doesn't charge a consultation fee because it CAN'T!!!!!!
The people at Pru, Met, John Hancock, etc also don't charge a consultation fee. I don't charge a consultation fee. What you're saying would be the equivalent of Ford announcing "....and we are the only ones who give you a steering wheel with the car at NO EXTRA CHARGE!!!"

You do what's ALWAYS right?????? Have you ever told the owner of a whole life policy he had to "borrow his own money"? If so then you told him an outright lie. I have stated why here many many times. Let's see if you know why its a lie.

You do what is right 100% of the time? You ever sold a female primerica life insurance? Since they charge the same rates they charge men and since their underwriting is more stringent, there are literally a large number of women I can write universal life insurance on for the same premium primerica charges them for term.

You do what is right 100% of the time??????
.Have you told a client "interest rates on a loan don't matter...only time in debt matters"?. If so once again you have told a lie. I'm not talking about comparing interest rates between some oddball variable loan with negative amortization versus a conventional loan either. I'm talking about telling a client he is better off with a 7.75% loan with a biweekly payment plan
than a 6.00% loan. What you don't know, because primerica doesn't want you to know and you have been too intellectually lazy to question them is;
you can duplicate the benefit of a biweekly payment plan by simply making a 13th payment every year. Its as simple as that.
I notice you rolled right over the Rule of 78. Since you're a loan officer, tell us what it means and how it effects the decision of someone 5 years into a loan on whether they should refinance or not.

Okay, a guy can't make the payments on a rated policy. I can get him table B rates with some companies and still be lower than primerica rates. On women I can get them table D rates and still be lower than primerica rates. You start them out with rates they can't afford.

You asked if anyone else shows them "how not to have a mortgage". Let me ask you..... . have you ever shown someone the LOST OPPORTUNITY cost of paying down a mortgage early and compared that to the savings in interest of paying off a loan early? When I hear a primerica rep say "yes" to that question then I'l know they have graduated from the first grade in financial planning.

There is an entire school of thought that says NEVER pay your mortgage off and use your house like a private bank account. Is it the best for everyone? Should no one ever pay off a loan? The answer to both questions as it relates to any individual client is IT DEPENDS....but an answer like IT DEPENDS seems beyond the grasp of the primerica drones I have run across these last 29 years. So tyey sell cookie cutter financial plans with the same canned solution to every single set of circumstances.

People shouldn't be lured by low interest rates???? LOL. I suppose we can expect the normal drivel about scheduled versus simple interest. Tell us Joshua, what is the maximum amount of interest that can possibly be saved by simple interest over scheduled interest. Here is a hint. Its the same whether its a $10,000 loan or $10 million. Here is another clue.......if one loan is 1.5% lower than another (like a real loan versus the not-so-$MART loan primerica peddles)the difference is made up in the first 4-5 months.

1-stop shopping versus using specialists? Why would anyone want to do that in this era? Why would anyone want to be limited to talking to someone who can only sell them the not-so-$MART loan from primerica, only primerica's overpriced term insurance and only Traveler's DI when they can talk to different people and save literally TENS of THOUSANDS OF DOLLARS over 20 years. On a $250,000 loan primerica will overcharge clients $87,000 in interest. $87,000 is a LOT to pay for convenience.

Primerica CARES about its clients???? LOLOLOL. Trust me, primerica goes after unsophisticated consumers with unsophisticated sales reps who don't look into the smoke and mirrors. Thats why they rely so heavily on newbies selling to their warm market. They get killed when the consumer does research but the warm market trusts Cousin larry and wants to help him out in his new career. Besides, in every primerica case I have replaced the owner's had the same complaint....after Cousin larry dropped out the only thing they ever heard from primerica again was the monthly bill.

You asked if I only sell life insurance. Nope. I also do securities, group health insurance, first deeds of trust and like a lot of people, I was a genius in the real estate market the last 5 years. I flipped a few properties. Ain't so easy to do now.

Lastly, you asked who my carriers are. Okay, here is a very partial list.

((30 names redacted by bob staff see note))

You want more? Too bad, I'm tired of typing names..
Here is what I can do for a client that a one-stop shop like primerica can't do

a. get diabetics preferred rates on term insurance
b. get preferred smoker rates
c. get non-smoker rates on people who use only pipes, cigars or chew
d. get non-smoker rates on very light smokers
e. get people with high blood pressure or high cholesterol preferred rates on term insurance
f. sell Return of Premium term. Don't even try to tell me its a ripoff when the ROP rates for females are virtually the same as the regular rates primerica charges women
g. get groups of two underwritten for health insurance with guaranteed acceptance at rates no more than 10% higher than standard rates (I'm borrowing a tactic from primerica here, lets see if any primerican knows what I am doing.)
h. put people into investments that ACTUALLY return 12%...and with protected principle to boot, as opposed to the theoretical 12% primerica reps tell their clients the unprotected stock market will return to them.

6 million ENJOY primerica products? They wouldn't enjoy them so much if somone educated them. I also find 6 million hard to believe. That would be 2% of the entire population including kids, yet the Texas Dept of Insurance says primerica only has 1.33% of the market. Hmmmmmmmmm....sounds like maybe when John and Betty have $5,000 child term rider on each of their 6 kids primerica is counting them as 8 clients.
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#6 Consumer Comment

Josh

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

You had a very interesting response to Leroy. But if I may....

If they could, I guarantee Primerica would charge the max they could for a FNA. Why would I say that?

Well, you dont have to refinance ANY loan to get into a biweekly program, as Primerica seems to state

Interest rates, APR, AND time in debt all go together, which Primerica states otherwise.

You CAN train your people without taking commissions from them, which apparently goes against what Primerica teaches.

So please dont go on about what Primerica can do for free, as if they would if they would be allowed to charge for it.

The difference is, many companies are able to charge for a FNA, but choose not to. Primerica has no choice but not to.
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#7 Consumer Comment

Josh

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

You had a very interesting response to Leroy. But if I may....

If they could, I guarantee Primerica would charge the max they could for a FNA. Why would I say that?

Well, you dont have to refinance ANY loan to get into a biweekly program, as Primerica seems to state

Interest rates, APR, AND time in debt all go together, which Primerica states otherwise.

You CAN train your people without taking commissions from them, which apparently goes against what Primerica teaches.

So please dont go on about what Primerica can do for free, as if they would if they would be allowed to charge for it.

The difference is, many companies are able to charge for a FNA, but choose not to. Primerica has no choice but not to.
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#8 Consumer Comment

Josh

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

You had a very interesting response to Leroy. But if I may....

If they could, I guarantee Primerica would charge the max they could for a FNA. Why would I say that?

Well, you dont have to refinance ANY loan to get into a biweekly program, as Primerica seems to state

Interest rates, APR, AND time in debt all go together, which Primerica states otherwise.

You CAN train your people without taking commissions from them, which apparently goes against what Primerica teaches.

So please dont go on about what Primerica can do for free, as if they would if they would be allowed to charge for it.

The difference is, many companies are able to charge for a FNA, but choose not to. Primerica has no choice but not to.
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#9 Consumer Comment

Josh

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

You had a very interesting response to Leroy. But if I may....

If they could, I guarantee Primerica would charge the max they could for a FNA. Why would I say that?

Well, you dont have to refinance ANY loan to get into a biweekly program, as Primerica seems to state

Interest rates, APR, AND time in debt all go together, which Primerica states otherwise.

You CAN train your people without taking commissions from them, which apparently goes against what Primerica teaches.

So please dont go on about what Primerica can do for free, as if they would if they would be allowed to charge for it.

The difference is, many companies are able to charge for a FNA, but choose not to. Primerica has no choice but not to.
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#10 UPDATE EX-employee responds

Rebutting Josh (Oviedo)

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

I have a message for shiller Josh and his fat cat puppetmasters:

"Victim of a consumer Rip-off? Want justice? Rip-off Report? is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers."

How are you helping the victims, shiller?
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#11 Consumer Suggestion

dimwitted josh the crimerica puppet

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

answer this my fecal brained friend:

is your term insurance vastly overpriced?

are 95% of new agents gone in 6 months?

is the PFS sales force undereducated in basic financial services knowledge?

is the not so smart loan something you would recommend to your mom,dad,brother, sister? if so, why?

do the fatcats make money off the warm market of all new hires?

would you ever recommend whole life as a method of minimizing or paying estate taxes? do you know what the federal estate tax threshold is? do you know what estate taxes are?
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#12 UPDATE Employee

In Addition to Leeroy

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

Since you don't work for "A" company, please bring to light the companies you get your clients rates from so that we can look into the actual payment of claims from those companies. Also, do you personally believe in buy term and invest the difference or do you personally own cash value and invest differently? Honest questions, since we know so little about you.
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#13 UPDATE Employee

Leeroy the Cynic!

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

First of all, thank you for twisting my words. I NEVER said Primerica was the ONLY company that will tell you about the Rule of 72. What I said was "For many, Primerica is the first time they have EVER heard about the rule of 72 and its for FREE, no $300 or MORE consultation fee by other companies." As you can see i stated we do it for free, and we make financial services available to people that WEREN'T looking for help already. Most of our clients had a very dismal financial future ahead of them, they weren't already saving, they already had NO income protection, or over-priced cash value insurance. You can argue all you want about our product lines, but i assure that our 6 million clients enjoy them.

So the fact we don't charge for FNA's because we can't has any relevance to it? I am sure there are many good companies that also help many people in finance and just to quote myself again, "IT DOESN'T HAVE TO BE PRIMERICA. As an honest agent that wants the best for EVERYONE, help yourself." As you can see, I know that what i do for the customer is ALWAYS the right thing. I never claim EVER to have cheap products, I sell quality products not based on how "low cost" they are but on the fact that if they need what they bought they will most assuredly get it, unlike alot of companies that mislead and deceive people about what coverages they have. I am sure there are many other insurance companies that write cheaper term, and yes there are people that can't get approved because of their life styles, but you can't always tell me that paying rated rates is always in the customers best interest if they can't even afford to pay their monthly bills.

Mortgage companies never teach clients about how not to have a mortgage, they want you to be in debt forever to the bank. We merely do the right thing all the time for the client and show them how they can pay off their homes much quicker and actually OWN their own home for once in their life. You shouldn't be lured in by low interest rates, you should really ask, what are my monthly payments and when will my loan be paid off. If you get suckered in by typical mortgage brokers that sell out of control ARM's just because the interest rate is low, those are the people that will be crushed financially. We show them how they can properly be responsible with their finances.

It sounds like to me you just do insurance, is that correct Leeroy? And i have no ill will toward you trying to find the best rate through being a broker of insurance, but if your selling insurance your only addressing a third of what a client needs. Being a financial one-stop shop for a client that goes to their kitchen table is a HUGE advantage to a client. I guarantee you that we care TREMENDOUSLY about our clients, especially since alot of our clients are our own families and friends. What more could you want from an agent? Most Primerica representives are good people who want to make a better life for themselves and the people around them and for that you fault them how? Bottom line, do what is right for the client 100% of the time and you'll have referrals like you can't believe.
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#14 Consumer Comment

Joshua, repeating the myths

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

Joshua says ONLY at primerica can you find out about the Rule of 72 without paying a $300 fee.

<< Nonsense. To begin with the Rule of 72 has no practical application in investing in the stock market or real estate. In both of those areas what has happened before has absolutley nothing to do with what will happen in the future. It does have an application in determining how long it will take your 4% CD to double or your 6.75% US Treasury 'I' Bonds.

Since you're going to peddle high priced loans you would do much better to learn the Rule of 78.

You do not have to pay $300 to a financial planner to get the equivalent of an Financial Needs Analysis (FNA) done. You can purchase them for about 10 cents a dozen on the net. Pru, Met, Principal, John Hancock, etc.... all have similar things they do for free also. Besides, unless you have a specific type of license, you CANNOT charge for doing an FNA. Primerica brainwashes newbies into thinking they are offering a valuable service for doing no more than obeying the law.

Joshua paraphrases the old tripe that all companies are MLMs (pyramids).

<
Joshua says brokers train their competition but primerica doesn't.

< Marine Drill Instructor, left primerica and went out on his own because he recognized how lousy the loans were and couldn't live with himself. He said he was making more than he did at primerica within 12 months. That was 3 years ago.
It happens at primerica too. They don't want you to know that just like they don't want you to know there are a half dozen other national agencies where you can do Buy term and Invest the Difference, selling much lower cost term, better loans, the same mutual funds, and get 80-105% commission from the very first life insurance policy you sell without giving away your warm market to an RVP.

Joshua asks I put "MY COMPANY" out here for critical review.

<< I don't have "A" company. If I did that would be giving away the advantage a client has in coming to me as opposed to anyone who has "A" company. I can get the person a better deal, ALWAYS!!!! In contrast to the people I believe are my real competition, State Farm, Farmers and Allstate I can search the marketplace to find my clients the best deal. If they have a problem like diabetes, obesity, high blood pressure, recovered cancer, etc...... I can find insurance for them and sometimes at preferred rates. If they don't smoke much and can pass a nicotine enzyme test I can legally get them non-smoker rates. Being an agent for "A" company in life insurance or loans is yesterday's business model.

To me primerica isn't competetition. However, they since they spread myths, urban legends, distortions and outright lies about how the rest of the industry works they can handicap the people who have come into contact with them.......and paying an extra $80,000-100,000 in loan interest is about as big a handicap a middle class family can get.
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#15 UPDATE Employee

You act surprised that people want to help you?

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

When i first heard about Primerica I was excited. A friend convinced me to come to a meeting with my brother and shortly after He quit the company because he was sent an email by a friend about something negative about Primerica. It spooked him off, so I saw a great Opportunity in what I saw, but because my brother and friend who wanted to bring me in quit I decided I would quit too....but I never forgot. Fast forward 2 years, I ran into an RVP by the name of Terry Stringham in my area who tried to recruit my co-worker at Cingular and he too was stand-offish about coming to work even though he never went to a meeting, but I remembered how great I liked what I saw a few years earlier about the company. I Had always been looking for a Business Opportunity that i could grow to give me better income and freedom of time. So I pursued my co-worker for Terry's business card and found out where his office was and needless to say here I am today. I have been with Primerica for about 2 years now and have finally completed all my licensing. At the age of 26 now, I like what little I have accomplished with Primerica. It is totally my fault for my unsuccess thus far because I have had a busy life. I haven't been coachable and done all the things my RVP has asked and I haven't put all the time I need to, to finish my training. But, I see the potential still in the opportunity afforded me in Primerica. I realize I could make more money short term as just an Insurance Agent or just a Mortgage Broker, or just an Investment Broker, but I like being able to make a difference for people that so desperately NEED our help. And that's what I like most about Primerica's approach to our consumers.

It takes ALL 3 area's of finance to meet our clients needs. Sometimes they need certain products, sometimes they are already on the right track. We are in the Business of SELF education and see, businesses that compete with us HATE that to the core. They hate the fact that we show how the Industry and Banks have been ripping them off for YEARS. They hate that we bring to light the many evil and greedy deeds and practices by the industry. Primerica is a very small light in a very very dark industry.
For many, Primerica is the first time they have EVER heard about the rule of 72 and its for FREE, no $300 or MORE consultation fee by other companies. (Like this poster said, $199 is more than she can afford and that is only more the reason she needs help). The banks won't teach that because then you won't be satisfied with low yielding accounts anymore that don't keep pace with inflation. The arguements have nothing to do with one product being more expensive than the other. It has to do with ethics. Everyone I personally know in Primerica (I can't speak for others I haven't met) wants to make a positive impact not only in their lives but also their friends, families and everyone. As a country HEAVILY in debt, our government is no role model for anyone, nor is its social security programs meant to be the only source of income for retirement. But, sadly all too many families never get educated about finances.

All these financial experts WANT you to think that finance is rocket science, but its not. Buy term and invest the difference. IT DOESN'T HAVE TO BE PRIMERICA. As an honest agent that wants the best for EVERYONE, help yourself. Primerica is a great company with a great OPPORTUNITY for SELF MOTIVATED people, BUT you don't have to get your services through us to meet those financial goals. We offer TOP QUALITY income protection from Travelers, TOP QUALITY SMART loans from CitiFinancial and TOP QUALITY investments from companies like Smith Barney. You honestly think that a company which the government uses to monitor the health of the economy (CitiGroup) would put their name ANYWHERE near a company that was a scam? We've been around since 1977 and we aren't going away. Primerica is layered similar to MLM which you act like that's a bad thing, but so is any Corporation out there. You have the CEO, then the President, then the Vice President, then Senior Regional Management, then Regional Managers, then Area Managers, then Managers, then little ants we call Employees at the bottom. Each are paid in a pyramid, based on what each other produces from the bottom up, CEO overrides everything. We at Primerica, are similar to Real Estate Agents....you have a Broker (Manager with a professional lincense) who hires and TRAINS Agents (who get their professional lincenses) to go sell homes, the Broker OVERRIDES EVERYTHING the Agent does. But in Real Estate they also train their competition, because their Agents want to be Brokers too so they get their Broker's Lincense and open up across the street and probably take some Agents with them...wow, would love to be in that industry. Primerica helps solve that, because we help each other grow and learn at your own speed. Your RVP as a financial interest to help you grow and succeed. He is not concerned about your replacing him, he wants you to also become an RVP. Who cares what the company is paying him if your making great money too. It is not get rich quick, you WILL WORK YOUR BUTT OFF, but i can tell you that when you do what your coached to do you can make money like my RVP who in 2005 made $200,000 overall, from downlines to personal production.

YOU DON'T HAVE TO RECRUIT or HIRE PEOPLE, but, you won't make very much money with out promotions. You can do everything on peronsal production but that is not what Primerica is about. We are about helping one another grow and become financially debt free and independent for both ourselves and for our clients whom we help. You fault us because you don't like what we do. That's fine with me. But don't slander us because you didn't give the company an HONEST try. If your NOT coachable you WILL NOT be successful in the business. You can go as fast as you want, DON'T quit your full-time job until you know its for you. A LARGE portion of people (I believe its only 6,000) agents are Full-Time and a LARGE Portion of them make 50,000 or MORE a year. 50,000 is a pretty good income considering that most people out of college make half of that. I was fortunate enough to find a good job young with Cingular, I started young at age 19 and am still employeed with them at age 26, but I will be going full time with Primerica by next year. This year at Cingular I am on pace to make between 50-60k in sales so it pays my bills pretty good. It is a large reason why I haven't put more time into training and growing in Primerica, but like I said, I passed all my licenses and did it the long way lol. I could have been RVP a long time ago, but I let myself get caught up in every excuse along the way. See everyone coming to this site will NEVER see the OPPORTUNITY and FREEDOM that Primerica or ANY SELF MOTIVATED Business offers(especially MLMs)because they didn't come here to find positive stuff or encouragement, they came here to find negative stuff. They are NOT looking for an OPPORTUNITY they are looking for an EXCUSE.

In closing, stay on your current track and your next 5 years will look a lot like your past 5 years. Is that good or bad? Primerica isn't for everyone, but those who really want a Business they can OWN can help so many families that need our help. I am sure people like Leroy and Jay make good money, but its not all about the money is it? There are many many kind hearted people in Primerica that started out just to make a few extra bucks to get by and now make over 100,000....who can fault people with a good work ethic and care about people?

PS> See, you have to understand that my office encourages everyone to start part-time and grow their business till it is able to replace their full-time income. I can understand valid complaints about how you are approached by various independent agents who work for Primerica that make it sound like a job, because its not. Those who continuously post negative upon negative comments, not those with valid complaints, but the regulars like Leroy and Jay to name a few. Please, bring your company into the spot light for all to see. If your companies are so much "more holy than thou" than Primerica, by all means declare who it is you work for so that we may all investigate you. Primerica Agents have nothing to hide, we too are like the people we help everyday, looking for a better hope. See, i realize that people in general are not perfect, we all have are faults, some in major ways. I currently work full-time for Cingular Wireless, by all means look them up on the website. Dive on in, there is plenty of reports about them as well. Please don't have the shades pulled over your eyes by ANYONE or ANY company. We all have our faults because the companies all have there OWN agenda. I don't claim to know everything, but if you think about it, if anyone did they'd be lying.
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#16 Consumer Comment

Stuart- 2nd attempt at a response

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

I constructed the sentence poorly. What I meant was that primerica has final say over who a rep sells his business to.
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#17 UPDATE EX-employee responds

Question

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

Question for Leroy (Tulare)

As part of your response to Aaron, you said this:

"...and they can say who you can and can't sell too."

A common way of doing this at many sales companies is to limit the geography an agent can operate in.
How does Primerica restrict their agents on who they
can sell and not sell to?
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You said no company could continue on and be successful if its as flawed as we critics of primerica say it is. I disagree. Here is why.

Primerica is an MLM. Unlike other forms of business which try to build consumer recognition and brand loyalty an MLM simply needs new cannon fodder to succeed. In fact, name recognition is an anethema(sp?) to them. They need people who have never heard of them so when they spin their web of distortions and half truths the propaganda comes as a total revelation to the wide eyed newbie. Ask yourself why would Amway give up name recognition and change its name to Quixar? Because Amway had too much name recognition and it was a negative name recognition. You ask anyone if they have heard of Amway and they roll their eyes and say "oh yeah". You ask them is they have heard of Quixar and it draws a blank. Thats what the Amway folks need. Non-name recognition = new cannon fodder for the MLM machine.

Primerica's marketing model is sheer genius...no doubt. Its founder A.L. Williams looked at the life insurance industry as it existed in 1976. He saw the average new agent sold 6-7 policies to close relatives and freinds, then dropped out. A.L. figured out a way to get lots of newbies to write 6-7 policies and then voluntarily hand over all the commissions to his henchman. The products then, as now, are overpriced with poor conversion provisions and options. yet here they are 29 years later selling the same old crap. You have to hand it to A.L. P.T. Barnum and Vince McMahon together haven't approached what he has done.

None of that means the products are good. Primerica is sold, not purchased. Any consumer who does the least amount of research quickly rejects primerica and moves on.
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#19 Consumer Comment

Aaron. Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

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

Aaron states that primerica offers affordable insurance to lower-middle class families.
Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

Aaron said after doing his Financial Needs Analysis from primerica (aka "canned sales pitch")he is going to make sure he is covered. Well Aaron if you and your wife are under 34 years old, you can purchase $300,000 20 year term insurance from primerica for $530 a year. A higher rated company offers the same coverage for $360. Another way of looking at it is that the other company would cover you and wife for $450,000 each for the same premium primerica charges for just $300,000.

If you or your wife smoke the differences are even more drastic. $922 for the two of you as opposed to $1706 with primerica.

Primerica loans are worse. Since you're a college grad you should have been thought to think critically. Don't the claims "interest rates don't matter only time in debt matters" and "simple interest saves huge amounts over scheduled interest" sound any alarms in your head?

If you do the math you'll quickly see there is no way in hell a 7.75% loan is better than a 6% loan.
All the smoke and mirrors about biweekly payments and simple interest is there just to divert your attention from the fact the interest rate is so much higher. Any payment plan primerica has can be duplicated easily elsewhere. You don't need any paperwork to do it. By the way, the greatest possible advantage simple interest can have over scheduled interest on a loan is 29 days worth of interest. Do you really think it makes that huge a difference on a loan that lasts 24 years? In fact, the difference in interest between a 6% loan and a 7.75% loan will wipe out that entire difference in the first 4-5 months.

Aaron, you said you get trained like everyone else and pass the same tests. No, you don't get trained like anyone else does. You get trained to present a canned sales pitch. It only tells half the story and is full of distortions, lies, and material so old and outdated it is no longer relevant. Remember, you only have to get 70% to pass your licensing exam and since so much of the test deals with administrative and legal terms you can know absolutely nothing about whole life and still pass the test. Based on what I've heard primerica reps say, they know absolutely nothing about whole life. Case in point..."you have to borrow your own money". Complete falsehood. I know why. Do you?

Primerica relies on word of mouth advertising, however, their bloated pyramid commission requires they charge more premium than other companies. Despite the fact they don't do any mass media advertising, their acquisition costs for new policies are far higher than the industry average.

Finally, you said the commissions are huge. Not with primerica they aren't. You can start out with at least 6 other national agencies at commissions of 80-105%, and right from the very first policy you write. You don't have to give away the commissions to your warm market like you do at primerica, or any MLM for that matter.
On those smoker rates I quoted you earlier your commission with the company rated higher than primerica would be $815.40 as a beginner. At primerica you would make $426.50 as a beginner despite the fact your clients would be paying $67 a month more forthe coverage.

Finally aaron, you're not in business for yourself at primerica. They tell you what you can write, what you can't write, they can terminate you and take all your renewals away, and they can say who you can and can't sell too.

At any of the other national agencies none of that is true. You would be able to write the products for at least 100 companies so you can truly fit the product to your client, and the business is yours from day #1. You can write what companies you want, what products you want, not subject to termination, and sell to who you want.

If you want to throw your college education away and not look critically into what primerica has told you feel free....but if you lack that much intellectual curiosity you will not be a good financial advisor.
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#20 Consumer Comment

Aaron. Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

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

Aaron states that primerica offers affordable insurance to lower-middle class families.
Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

Aaron said after doing his Financial Needs Analysis from primerica (aka "canned sales pitch")he is going to make sure he is covered. Well Aaron if you and your wife are under 34 years old, you can purchase $300,000 20 year term insurance from primerica for $530 a year. A higher rated company offers the same coverage for $360. Another way of looking at it is that the other company would cover you and wife for $450,000 each for the same premium primerica charges for just $300,000.

If you or your wife smoke the differences are even more drastic. $922 for the two of you as opposed to $1706 with primerica.

Primerica loans are worse. Since you're a college grad you should have been thought to think critically. Don't the claims "interest rates don't matter only time in debt matters" and "simple interest saves huge amounts over scheduled interest" sound any alarms in your head?

If you do the math you'll quickly see there is no way in hell a 7.75% loan is better than a 6% loan.
All the smoke and mirrors about biweekly payments and simple interest is there just to divert your attention from the fact the interest rate is so much higher. Any payment plan primerica has can be duplicated easily elsewhere. You don't need any paperwork to do it. By the way, the greatest possible advantage simple interest can have over scheduled interest on a loan is 29 days worth of interest. Do you really think it makes that huge a difference on a loan that lasts 24 years? In fact, the difference in interest between a 6% loan and a 7.75% loan will wipe out that entire difference in the first 4-5 months.

Aaron, you said you get trained like everyone else and pass the same tests. No, you don't get trained like anyone else does. You get trained to present a canned sales pitch. It only tells half the story and is full of distortions, lies, and material so old and outdated it is no longer relevant. Remember, you only have to get 70% to pass your licensing exam and since so much of the test deals with administrative and legal terms you can know absolutely nothing about whole life and still pass the test. Based on what I've heard primerica reps say, they know absolutely nothing about whole life. Case in point..."you have to borrow your own money". Complete falsehood. I know why. Do you?

Primerica relies on word of mouth advertising, however, their bloated pyramid commission requires they charge more premium than other companies. Despite the fact they don't do any mass media advertising, their acquisition costs for new policies are far higher than the industry average.

Finally, you said the commissions are huge. Not with primerica they aren't. You can start out with at least 6 other national agencies at commissions of 80-105%, and right from the very first policy you write. You don't have to give away the commissions to your warm market like you do at primerica, or any MLM for that matter.
On those smoker rates I quoted you earlier your commission with the company rated higher than primerica would be $815.40 as a beginner. At primerica you would make $426.50 as a beginner despite the fact your clients would be paying $67 a month more forthe coverage.

Finally aaron, you're not in business for yourself at primerica. They tell you what you can write, what you can't write, they can terminate you and take all your renewals away, and they can say who you can and can't sell too.

At any of the other national agencies none of that is true. You would be able to write the products for at least 100 companies so you can truly fit the product to your client, and the business is yours from day #1. You can write what companies you want, what products you want, not subject to termination, and sell to who you want.

If you want to throw your college education away and not look critically into what primerica has told you feel free....but if you lack that much intellectual curiosity you will not be a good financial advisor.
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#21 Consumer Comment

Aaron. Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

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

Aaron states that primerica offers affordable insurance to lower-middle class families.
Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

Aaron said after doing his Financial Needs Analysis from primerica (aka "canned sales pitch")he is going to make sure he is covered. Well Aaron if you and your wife are under 34 years old, you can purchase $300,000 20 year term insurance from primerica for $530 a year. A higher rated company offers the same coverage for $360. Another way of looking at it is that the other company would cover you and wife for $450,000 each for the same premium primerica charges for just $300,000.

If you or your wife smoke the differences are even more drastic. $922 for the two of you as opposed to $1706 with primerica.

Primerica loans are worse. Since you're a college grad you should have been thought to think critically. Don't the claims "interest rates don't matter only time in debt matters" and "simple interest saves huge amounts over scheduled interest" sound any alarms in your head?

If you do the math you'll quickly see there is no way in hell a 7.75% loan is better than a 6% loan.
All the smoke and mirrors about biweekly payments and simple interest is there just to divert your attention from the fact the interest rate is so much higher. Any payment plan primerica has can be duplicated easily elsewhere. You don't need any paperwork to do it. By the way, the greatest possible advantage simple interest can have over scheduled interest on a loan is 29 days worth of interest. Do you really think it makes that huge a difference on a loan that lasts 24 years? In fact, the difference in interest between a 6% loan and a 7.75% loan will wipe out that entire difference in the first 4-5 months.

Aaron, you said you get trained like everyone else and pass the same tests. No, you don't get trained like anyone else does. You get trained to present a canned sales pitch. It only tells half the story and is full of distortions, lies, and material so old and outdated it is no longer relevant. Remember, you only have to get 70% to pass your licensing exam and since so much of the test deals with administrative and legal terms you can know absolutely nothing about whole life and still pass the test. Based on what I've heard primerica reps say, they know absolutely nothing about whole life. Case in point..."you have to borrow your own money". Complete falsehood. I know why. Do you?

Primerica relies on word of mouth advertising, however, their bloated pyramid commission requires they charge more premium than other companies. Despite the fact they don't do any mass media advertising, their acquisition costs for new policies are far higher than the industry average.

Finally, you said the commissions are huge. Not with primerica they aren't. You can start out with at least 6 other national agencies at commissions of 80-105%, and right from the very first policy you write. You don't have to give away the commissions to your warm market like you do at primerica, or any MLM for that matter.
On those smoker rates I quoted you earlier your commission with the company rated higher than primerica would be $815.40 as a beginner. At primerica you would make $426.50 as a beginner despite the fact your clients would be paying $67 a month more forthe coverage.

Finally aaron, you're not in business for yourself at primerica. They tell you what you can write, what you can't write, they can terminate you and take all your renewals away, and they can say who you can and can't sell too.

At any of the other national agencies none of that is true. You would be able to write the products for at least 100 companies so you can truly fit the product to your client, and the business is yours from day #1. You can write what companies you want, what products you want, not subject to termination, and sell to who you want.

If you want to throw your college education away and not look critically into what primerica has told you feel free....but if you lack that much intellectual curiosity you will not be a good financial advisor.
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#22 Consumer Comment

Aaron. Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

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

Aaron states that primerica offers affordable insurance to lower-middle class families.
Not so fast there. Primerica offers overpriced term insurance to men, and ludicrously overpriced insurance to women.

Aaron said after doing his Financial Needs Analysis from primerica (aka "canned sales pitch")he is going to make sure he is covered. Well Aaron if you and your wife are under 34 years old, you can purchase $300,000 20 year term insurance from primerica for $530 a year. A higher rated company offers the same coverage for $360. Another way of looking at it is that the other company would cover you and wife for $450,000 each for the same premium primerica charges for just $300,000.

If you or your wife smoke the differences are even more drastic. $922 for the two of you as opposed to $1706 with primerica.

Primerica loans are worse. Since you're a college grad you should have been thought to think critically. Don't the claims "interest rates don't matter only time in debt matters" and "simple interest saves huge amounts over scheduled interest" sound any alarms in your head?

If you do the math you'll quickly see there is no way in hell a 7.75% loan is better than a 6% loan.
All the smoke and mirrors about biweekly payments and simple interest is there just to divert your attention from the fact the interest rate is so much higher. Any payment plan primerica has can be duplicated easily elsewhere. You don't need any paperwork to do it. By the way, the greatest possible advantage simple interest can have over scheduled interest on a loan is 29 days worth of interest. Do you really think it makes that huge a difference on a loan that lasts 24 years? In fact, the difference in interest between a 6% loan and a 7.75% loan will wipe out that entire difference in the first 4-5 months.

Aaron, you said you get trained like everyone else and pass the same tests. No, you don't get trained like anyone else does. You get trained to present a canned sales pitch. It only tells half the story and is full of distortions, lies, and material so old and outdated it is no longer relevant. Remember, you only have to get 70% to pass your licensing exam and since so much of the test deals with administrative and legal terms you can know absolutely nothing about whole life and still pass the test. Based on what I've heard primerica reps say, they know absolutely nothing about whole life. Case in point..."you have to borrow your own money". Complete falsehood. I know why. Do you?

Primerica relies on word of mouth advertising, however, their bloated pyramid commission requires they charge more premium than other companies. Despite the fact they don't do any mass media advertising, their acquisition costs for new policies are far higher than the industry average.

Finally, you said the commissions are huge. Not with primerica they aren't. You can start out with at least 6 other national agencies at commissions of 80-105%, and right from the very first policy you write. You don't have to give away the commissions to your warm market like you do at primerica, or any MLM for that matter.
On those smoker rates I quoted you earlier your commission with the company rated higher than primerica would be $815.40 as a beginner. At primerica you would make $426.50 as a beginner despite the fact your clients would be paying $67 a month more forthe coverage.

Finally aaron, you're not in business for yourself at primerica. They tell you what you can write, what you can't write, they can terminate you and take all your renewals away, and they can say who you can and can't sell too.

At any of the other national agencies none of that is true. You would be able to write the products for at least 100 companies so you can truly fit the product to your client, and the business is yours from day #1. You can write what companies you want, what products you want, not subject to termination, and sell to who you want.

If you want to throw your college education away and not look critically into what primerica has told you feel free....but if you lack that much intellectual curiosity you will not be a good financial advisor.
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#23 Consumer Suggestion

Every company will have customer service issues.

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

After reading all of the responses here, I have come to realize a sense of the impact of issue based on the information and conversation provided on this site. As a scholar of psychology, the general heuristic theory confirmed by replicated and methodoligically sound research studies, supports the notion that consumers, as a guideline, are more likely to complain than to praise products and services. Parial confirmation of this would be customer service and consumer help centers. They were designed for the purpose of filtering the negative, not accepting praise and thanks. This website is a very similar device, a vehicle and outlet for complaints, upsets, and cautions. Every company will have some negative feedback. (An example might be Walmart, and the action groups assembled to encourage a change in some of the company's business practices.) However, the issue is combatting negative consumer interactions.

A company like Primerica which provides mostly one-on-one interactions, most likely does not have a customer service structure to handle complaints and misunderstandings. Perhaps this is a training issue with some of the company's affiliate employees. Every work position in the world has seen the effects of somebody who performed poorly or incorrectly or seemed mindless. These people must learn from their mistakes - but who can tell them? That is why all of you have found this website.

As you might have noticed, most of the individuals posted against this company, Primerica, are written by individuals in isolated instances. Most of them are spread about the country, and from this seem to be classifiable as structurally expected and marginal instances. Now, if let us presume 20% of all consumer conducting business with this company had similar complaints. Then, this would indicate more serious problems.

The point: Be mindful and careful to not generalize several instances as statistically representative of the entire group. This company would not be in business at all if it was so "corrupt" or in error that consumers did not find value and benefit in the goods and services they received - consumers would stop their contribtutions to the company and it would find its death. On the other hand, I understand Primerica has actually seen substantial growth.

In summart, the company as a whole is not flawed. But a select few representatives of the company are. Please do not overgeneralize.
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#24 Consumer Comment

Eveyone Want's to Be A Critic

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

Okay I do not believe anyone is a brain doctor on this post so I'll - K.I.S.S( Keep It Simple Stupid). I'm getting started in Primerca, I'm very motivated when it comes to being in business for myself. I feel this is the greatest career opportunity for me. Get it for me. We have to go to classes, and get licensed to do what we do. This is a process called learning. So your not being told information from someone with half of the knowledge, your getting it from someone who has been trained in that field.

When you go to Wal-Mart and ask the guy or girl behind the electroncs register how something works he or she is not trained, but you still listen to him or her. We do get taught, and licensed to do what we do. I have gone to college and learned only how to work for people. Now I'm learning how to work for myself. Get it myself. As for those who get approached the wrong way u have a choice to here an opportunity or to not.

Apparently some of this info does hit home when your or you would send us packing. Hey what we do is important to lower income families, such as mine. Example: My oldest cousin passed away in Oct. 2003 just before his 31st B-Day, my oldest brother a year less than one year later in July one month after his B-Day,he was 33yrs old. Both of them had no insurance. My brother three kids. We had to do car washes, and set up jars in stores to pay for there funerals. Hey yall that hurts to do things of that nature just to get help to pay for something that is never taught to you. Or because you only think middle to upper class can only afford life coverage. But had some one offered them life insurance things could have been differnt.


My brother and cousin could have had decent funerals, and more importantly money set aside for my brothers children. So you see Primerica offers affordale insurance, ways to consolidate debt, ways to invest for the future, What's so wrong about that? Because I will bet you this once my FNA(Finacial Needs Analysist ) is complete I'm gettin myself and my children coverage. Because if anythng happens to old dad I will make sure my children will not have to worry about a thing. New topic.Why Recruit? The reason we recruit is because word of mouth is the best advertisement. This is why the commisions are so high. The company would rather pay us then a radio station..etc. Just think how many times a friend referred you to go try something, it coast the business nothing for your friend to reffer you to that business. Hey I have gone on long enough so keep hating Primerica for offering people a legit chance to better their families, or advance to a new career. And I will continue to make a differnce helping myself, and others just like me. Get it just like me. Simple enough for Ya!!!!!!!!!!!!
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#25 Consumer Suggestion

Gary, you're joking, right?

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

Can't make that generalization? When nearly every complaint filed here says almost verbatim that they were contacted regarding a "management position with our company for our area expansion?"

Give me a break. why don't you just be honest and say that this indeed is how Primerica conducts business, and defend the technique on its merits? Oh, that's right, it would be pretty hard to defend the dishonest recruiting techniques that Primerica employs, wouldn't it?

Here's a question for you. Does your "office" engage in this sort of activity? If the answer is no, why not? It seems that the rest of your company does.
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#26 Consumer Comment

Gary and recruiting

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

All anyone has to do is look at ALL the threads here. People from all over 2 nations, over a course of a couple years all have the same complaint......."I was approached for a managerial position with Citigroup but it turned out to only be MLM sales with primerica". That makes it sound companywide, not just a few zealots. Pretty soon we'll have someone from Madrid write in with the same complaint.
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#27 UPDATE Employee

Pants on Fire

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

Unless you've been to every one of our offices in every State, you can not make that generalized statement. Oh, I forgot you're an expert! Former drip under pressure....
We do have some over zealous people but that's true anywhere you may go.
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#28 Consumer Comment

Joanne...yes!

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

Joanne, you asked if primerica's methods are the same from state to state. Yes, they are EXACTLY the same. One of primerica's sales pitches to potential recruits is that they have a system that is "EASY TO REPLICATE". The only thing that differs are the licensing requirements for new life insurance agents from state to state. In California for example, new agents have to attend a 52 classroom hour course that cannot be given by the insurance carrier. This requirement was direct response by the State of California to tighten up licensing due to activities of primerica predecessor company and its founder, the A.L. Williams Agency.
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#29 Consumer Comment

Are Primerica techniques same from state to state?

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

I am the author of the previous response, regarding the friend whom I feel may be taken advantage of. I wanted to add that he lives in a different state than I do, and I was wondering if the policies and techniques for recruitment, etc. are the same from state to state for Primerica?
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#30 Consumer Comment

My friend is also being taken advantage of

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

My friend began going to the Primerica meetings last fall. He is middle aged, underemployed, and kind of trusting and vulnerable. He has put a lot of time and effort in going to meetings, etc., and has not made a penny. He even started church activities and is beginning to sound very religious.I feel pretty bad about him not making any money after all that effort. I think that Primerica may have aspects about it that are very cult-like.I don't trust this organization at all. He approached me to try to sell me some of their products, but, of course I researched it, and it did not sound good.
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#31 Consumer Comment

Hi Gary

AUTHOR: Edwin - (Canada)

Hi Gary,

If we all use 10% of our brains, a person with only half a brain would still use 10% of what he has - ie he would only use 5% of what our brain would use.

Well yes, there are indeed people who just want help and not care how much the person helping him know. These would also be the type of people who will buy anything that their advisors tells them to buy - even if the advisors give them garbage advise which involves buying useless or overpriced products. If I am this type of client, it would be my best interest to have an advisor who is very smart (ie not somebody with half a brain) and honest. That way, I won't receive bad advice and follow it blindly. If I blindly follow the advice of somebody with only half a brain, my financial situation can easily go worse. I'm just very surprised you would promote your company by saying that people with half a brain can make it. Clients will get concerned when they see that. BTW, can I assume that all of your clients would prefer that nobody on your team is a person with only half a brain?

As for whether I would appreciate it if I hate my job and my best friend tells me about an alternate opportunity? Well yes. That I would appreicate. But if my best friend tries to deceive me, I would feel offended. If he is pretending that he's telling me a great opportunity but in reality, he's trying to take advantage of me by invading my warm market and use me to be his downline, that I too would feel offended. It's unfortunate that a lot of times, money and greed can cause character transformation of people - including those who are once your friends. My friend's intention may be good, or it can be evil. Anytimes a friend from network marketing approaches me and offers this opportunity of a life time, I will have to proceed with caution.

In your Pizza Hut example, you shouldn't be disappointed with yourself for not trying. Before you try, you at least should do research on many factors, such as how to run a successful pizza business, what are the expense invovles, how good is the location, how much money do you project to make in the 1st year, 2nd year, etc. If you attempt to start that business without these research, don't be surprise to kiss your 10K goodbye. Of course, you may be lucky and earn lots of money even if you don't research, but why take this risk? I would much rather to take my time to research thoroughly first. It's better to not own a business at all than to own one only not knowing how to run it successfully.

Having said that, many times in network marketing, you are encouraged to jump into the business without thorough research. I hate it when my friend tells me things like "if you don't try, how do you know you won't succeed?". That statment just makes no sense at all. You don't have to try poking yourself with a sharp knife before realizing that it is not a smart thing to do. A lot of times, common sense, instincts, and research will tell you many things. You don't have to try it in order to find out.

If you politely point out that your research or instincts indicates the business is not too likely to be successful, your friends may start calling "negaive person" or other names. If this happens, I seriously doubt our friendship will ever continue. I don't care whether they make loads of money or not. It's not the way I would do business.

Back to your other question as to what if after I turned down Primerica and my job got eliminated, would I be upset? Yes and no. Yes because I'm disappointed from being laid off. No because I don't regret turning down the opporuntity from Primerica, as there surely are other opportunities else where.

Besides, what works well for my friend may not necessarily means it will work well for me. For example, I have a friend of friend who is tired of his job. He quitted a few months ago and decided to make his living by doing something that he truly enjoys - playing poker. Being a pro poker player is a legitimate job. It's not illegal. And there is also the "POTENTIAL" of having unlimited income. He may lose big, but he may make many money from it and buy his BMW's and Ferarri's. If I get laid off, will I want to follow his footsteps, even if I see owns so much houses and properties? Not a chance. The risk involves is not something that I'm willing to take. I may make money one day, but lose everything that I own tomorrow. I certainly won't be upset with myself if I get laid off from my current job and see that he makes big money. I just can't afford to take that risk.

PS. I certainly don't mind it at all when you replied Annie and my post together. You have a very interesting and diversified background, and you have been through many hardship in life. Eventhough we will probably always disagree on certain things, it's always a pleasure chatting with you and learning your point of view.
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#32 UPDATE Employee

To Annie in New Orleans Edwin in Canada

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

I'm responding to both of you as I'm in sort of a rush this PM. Hope you don't mind.

HI Annie: Thanks for your heart felt response. Yes, it's too bad we're so far apart as I would really enjoy just visiting with you. I'm also a (closet) artist and comedian.

Yes, a lot of people love what they do, but a few out there (about 15%) feel stuck or are looking for something better.

I liked to draw & got my degree in architectural design, but when I returned from the Peace Corps there weren't any openings, so I took a job as a machinist in a small (fast growing) hydraulics company (but they only had one designer / draftman). I worked into hydraulic design within 10 months of getting hired, & thought I would do that until something better came along.

Fourteen years later, after training all of their other draftsmen (9 - 12 ... I've lost count?), basically duplicating myself, I was passed over for promotion to head-up the engineering department. BTW - The head of the Dept had resigned & bought a fast food restaurant! Another person who I had trained became my boss as he had a double major in college, electrial engineering & business management, and I didn't! I was constantly being told I did excellent work & they wished they could pay me more, but the economy at that time would not justify that expense. They gave me the title of Lead Draftsman & put me in charge of quality control, more work but no pay increase! Then by accident, to make a long story short, I discovered one of the other draftsmen that I had trained, was getting paid more per hour than me!

That's when I went home & was ready to quit. I had - had it up the here! I began sending out resume's to oil companies in Kuwait and Saudi Arabia as an engineering instructor. (This was before the first Gulf War!) By the way, I was not a praying person at that time in my life. But I prayed that night when I came home from work & it was about 8 or 10 days later, I received a post card in the mail from Primerica in another city about 125 miles from were I lived at the time. They were looking for people as they were expanding in my area. So I called the phone number at least 6 times, leaving messages on their office's answering machine, before someone finally contacted me. I could go on ... but ... The rest is history & I've gone on too much already.


To Edwin in Canada,

Actually Edwin, we only use about 10% of our brains, so half a brain is a benefit! We (PFS) have smart on tap with the companies we represent. However, I've discovered that people really don't care how much we know, they just want help, does that make sense?

I was not expecting anyone to prejudge others on whether they make $50,000 in a month or in a year. My point simply was if you were one of those people (15%-ers) who felt stuck in a rut or a dead end job, & your best friend had a way to get you out of that. Wouldn't you appreciate that friend at least telling you about it, so you could have a choice? Or ... you said no thank you, as you fully enjoyed your job at that time, or you thought this was a scam, after your friend had showed you an alternative. But later found out it was not a scam and you discovered your job had gotten eliminated, wouldn't that upset you just a little bit? I know it would bother me!

Pizza Hut was founded right here in Wichita, and a long time ago I was offered a franchise for $10,000 but said no, cause I didn't want to sell Pizza's, and I didn't have the capital! Now with hind-sight I would have done just about anything legal to have raised the additional $8,000 to have taken advantage of that opportunity. I'm really not mad at my friend, but I am disappointed in him for not following up (and with myself for not at least trying) !!
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#33 Consumer Suggestion

Gary in Wichita I Believe You Are An Anomoly

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

Gary in Wichita,

You truly sound like someone from Primerica with whom I would like to converse. You strike me as intelligent, dedicated, hard working and for that I applaud you. I wish you the best.

But I am sorry to say, I think you are an anomoly.

The shopping mall excursions I mentioned were where I was actually shopping with my children. I wasn't working a booth or engaging in my own trade in any way. I was just shopping. To have someone accost me while I was enjoying some time with my children was inexcusable.

I am glad you do not troll websites or job sites. I am glad that you recognize the difference between someone who wants to be employed by some and some who seeks self employement. You call it a "job," I call it a "choice"...tomato/tomahto...there should be acceptance of all...

Ours is a blended family along those lines. I am self-employed as a commissioned artist. My husband works for a corporation. Yes, it is a rat race, but it also fuels our 401K retirement fund to the tune of 18% on average for the past 10 years. So, I will not in anyway disperage what my husband contributes to our family.

And, actually, yes I did have a best friend that was/is working for Primerica. For two years now he has been slugging away at it. The result? At last blush I think he was selling his furniture on eBay to pay his bills. As a commissioned artist, I have seen some horrific ups and down -- especially in the past year. No one wants to invest in art in the blush of Katrina. But I have never had to expose myself to such obscenity as my friend in order to continue. I would go sling burgers at McDonalds before I did that.

And sadly we are no longer best friends. I got tired of our friendship being a "transaction." Friends are friends; business is business, and I got tired of being looked at as a meal. I could almost see my friend salivating when we would meet.

As someone who is self employed, I will be the first to say that being such is hard work. I despise the "marketing" aspect of self employment. I am an artist, I simply want to create. But truly I have found that such is only about 30 percent of the work. Still I only "market" within the boundaries of what I think is acceptable. I talk myself up at art shows; I send emails of newest work to a client list, I give presentations as invited, but I would never, never NEVER approach someone cold, especially when that person was shopping with his or her children. I make a good living by my standards; one that satisfies me without feeling I am selling myself for the sake of a buck. That is all that matters to me. I can get up in the morning and look myself in the mirror and say, "yesterday was good day." That is enough for me.

I had had 2 interactions with Primerica - my lost ex-friend now sitting on his floor becuase he sold his chairs and the chance encounter in a shopping mall. Both left very unsettling tastes in my mouth.
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#34 Consumer Comment

Answering Gary's points

AUTHOR: Edwin - (Canada)

Hi Gary,

I will reponse to your points regarding what if my best friend works for Primerica and s/he does very well later on (ie making 50K a month, owns many offices and drives an new BMW)

Friendship is friendship. I don't judge my friends based on the cars they drive or how much money they own.

So what if they're making much more money than I do? I won't feel jealous or mad if they are doing better than I am in their careers. I respect my friend for who they are, and not how much they own.

Similarly speaking, 5 or 6 years from now, if my friends from Primerca are still earning what an average Primercan makes (about $5,000 a year in gross income minus all expense) while I'm doing well in my career, I won't look down upon them; and I don't expect them to look up upon me. But if they are only making $5000 a year and then try to convince me that I could become a millionaire if I become part of their company, I will seriously question their claims.

Having said that, if my friends are doing very well in Primerica, I'll feel very happy for them. But that doesn't mean I'm missing the opportunity of a life time if I don't join them. There are many other opportunities for success in life.

BTW, I hope you know what you're talking about in the last sentence of your previous post. You said anyone with half a brain can do it (ie succeed in Primerica). As a client, I get extremely concerned if agents only with half a brain are telling me how I should be investing my hard earned money.
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#35 UPDATE Employee

Hi Annie in New Orleans....

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

Hi Annie,

Sorry you had a bad experience. We are not bottom feeders. I have met people while conducting business (shopping) in malls, as well as other businesses, that were very personable & demonstrated to me that they have good people skills. They're in sales so they have no preconceived negative notions about sales & evidently enjoy it, or they would not be doing it, right? I can train almost anyone, provided they're honest & have good character, are coachable and no felonies. But I have not yet discovered a way to train great people skills, desire or enthusiasm!

When I do meet someone of that caliber, I would certainly love to recruit them into my business. (Or at least give them the opportunity to tell me no!) Of course it's totally up to them. If they're offended, it's not my fault, it's just their preconceived notions as to what they may or may not think about me.

I do not rely on resumes or websites where people post their resumes. These people are looking for a JOB and usually are unemployed. I'm looking for people who're looking for me, and already have a JOB. I know that sounds "canned" but seriously I am looking for people who have a job with the rat-race that comes with it, who want a way out! I can train them, while they keep the security blanket job that pays the bills, and they can begin to learn a new career ... part-time. Then when their part-time income surpasses their full time JOB, they can make the transition to full time without any sacrifices. To me that makes a lot more sense, wouldn't you agree??

I also realize that when they're working at their JOBS, I don't try to recruit them then & there. It puts them on the spot & also makes for a very uncomfortable situation as their boss may be watching & also it's not ethical. I mearly get their name & phone number where I can call them when they're not at work and then follow up.

Seriously, if your best friend knew about an opportunity where you could own your own business, have total freedom from a job, and make as much money as you're willing to work for (ethically) .... but they did not tell you about it ... how would you feel? Then, five or six years later you find out that they're now earning $50,000 a month, You're still stuck in a job making that much per year, or your company downsized & you're now polishing up your resume, and trying to find another job ... how would you feel about your friend, then?

Or how about this scenario: Your friend did approach you ... but you were offended by their timing and said this all sounds too good to be true, maybe this is a scam, & I've checked it out on RipOff.bomb & said not only "NO" but "H-NO!" Then five or six years later, you meet up with your same friend in their New BMW & they have offices throughout the city & in 7 or 8 other states ... and has begun establishing offices all over the World .... how would you feel then?

You see all opportunities come disguised in the form of hard work. Almost no one today wants to work hard, but there's a few of us who work hard but we're in the wrong vehicle. It's like being a winning "Indy 500" driver at the brickyard .... trying to take the lead in a Volkswagon Beetle!

Now I"m not knocking jobs, we need school teachers (I was one in the Peace Corps), engineers (been there done that!}, sheet metal fabricators (done that, too!), Office supply - customer service (ditto!), nurses, reporters, judges, farmers, truck drivers, contractors, clerks, store managers, union stewards, stocking clerks and many, many other jobs, to keep our society working. Our society depends on a wide range of skills to keep our economy flowing. But I finally decided I did not want to "become" any of those. Primerica gave me a chance to help others & get paid well to do that & the freedom to choose who I want to work with.

I know you'll say I'm brain-washed. I was brain-washed, that is true, by my parents & by universities. "Go to a great university, so you can get a good job with good pay & great benefits. And at retiremnent get a gold watch & a nice pension (with social security and pension it amounts to about 50% - 60% of the 100% you couldn't live on before!) We're seeing what happen to the pension plans already & social security will become bankrupt by the time we need it. My son will be supporting someone on Social Security to the tune of about $1500 a month coming out of his pay check... so the system is about ready to implode with the 78 million baby boomers fast approaching 65!!

That's why we recruit. Is it easy? Nope! But what we do is simple. It requires licensing, too! (that's not so easy or simple) Anyone with half a brain can do it, provided they work hard & understand that this is not a job but a career.
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#36 UPDATE Employee

Hi Annie in New Orleans....

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

Hi Annie,

Sorry you had a bad experience. We are not bottom feeders. I have met people while conducting business (shopping) in malls, as well as other businesses, that were very personable & demonstrated to me that they have good people skills. They're in sales so they have no preconceived negative notions about sales & evidently enjoy it, or they would not be doing it, right? I can train almost anyone, provided they're honest & have good character, are coachable and no felonies. But I have not yet discovered a way to train great people skills, desire or enthusiasm!

When I do meet someone of that caliber, I would certainly love to recruit them into my business. (Or at least give them the opportunity to tell me no!) Of course it's totally up to them. If they're offended, it's not my fault, it's just their preconceived notions as to what they may or may not think about me.

I do not rely on resumes or websites where people post their resumes. These people are looking for a JOB and usually are unemployed. I'm looking for people who're looking for me, and already have a JOB. I know that sounds "canned" but seriously I am looking for people who have a job with the rat-race that comes with it, who want a way out! I can train them, while they keep the security blanket job that pays the bills, and they can begin to learn a new career ... part-time. Then when their part-time income surpasses their full time JOB, they can make the transition to full time without any sacrifices. To me that makes a lot more sense, wouldn't you agree??

I also realize that when they're working at their JOBS, I don't try to recruit them then & there. It puts them on the spot & also makes for a very uncomfortable situation as their boss may be watching & also it's not ethical. I mearly get their name & phone number where I can call them when they're not at work and then follow up.

Seriously, if your best friend knew about an opportunity where you could own your own business, have total freedom from a job, and make as much money as you're willing to work for (ethically) .... but they did not tell you about it ... how would you feel? Then, five or six years later you find out that they're now earning $50,000 a month, You're still stuck in a job making that much per year, or your company downsized & you're now polishing up your resume, and trying to find another job ... how would you feel about your friend, then?

Or how about this scenario: Your friend did approach you ... but you were offended by their timing and said this all sounds too good to be true, maybe this is a scam, & I've checked it out on RipOff.bomb & said not only "NO" but "H-NO!" Then five or six years later, you meet up with your same friend in their New BMW & they have offices throughout the city & in 7 or 8 other states ... and has begun establishing offices all over the World .... how would you feel then?

You see all opportunities come disguised in the form of hard work. Almost no one today wants to work hard, but there's a few of us who work hard but we're in the wrong vehicle. It's like being a winning "Indy 500" driver at the brickyard .... trying to take the lead in a Volkswagon Beetle!

Now I"m not knocking jobs, we need school teachers (I was one in the Peace Corps), engineers (been there done that!}, sheet metal fabricators (done that, too!), Office supply - customer service (ditto!), nurses, reporters, judges, farmers, truck drivers, contractors, clerks, store managers, union stewards, stocking clerks and many, many other jobs, to keep our society working. Our society depends on a wide range of skills to keep our economy flowing. But I finally decided I did not want to "become" any of those. Primerica gave me a chance to help others & get paid well to do that & the freedom to choose who I want to work with.

I know you'll say I'm brain-washed. I was brain-washed, that is true, by my parents & by universities. "Go to a great university, so you can get a good job with good pay & great benefits. And at retiremnent get a gold watch & a nice pension (with social security and pension it amounts to about 50% - 60% of the 100% you couldn't live on before!) We're seeing what happen to the pension plans already & social security will become bankrupt by the time we need it. My son will be supporting someone on Social Security to the tune of about $1500 a month coming out of his pay check... so the system is about ready to implode with the 78 million baby boomers fast approaching 65!!

That's why we recruit. Is it easy? Nope! But what we do is simple. It requires licensing, too! (that's not so easy or simple) Anyone with half a brain can do it, provided they work hard & understand that this is not a job but a career.
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#37 UPDATE Employee

Hi Annie in New Orleans....

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

Hi Annie,

Sorry you had a bad experience. We are not bottom feeders. I have met people while conducting business (shopping) in malls, as well as other businesses, that were very personable & demonstrated to me that they have good people skills. They're in sales so they have no preconceived negative notions about sales & evidently enjoy it, or they would not be doing it, right? I can train almost anyone, provided they're honest & have good character, are coachable and no felonies. But I have not yet discovered a way to train great people skills, desire or enthusiasm!

When I do meet someone of that caliber, I would certainly love to recruit them into my business. (Or at least give them the opportunity to tell me no!) Of course it's totally up to them. If they're offended, it's not my fault, it's just their preconceived notions as to what they may or may not think about me.

I do not rely on resumes or websites where people post their resumes. These people are looking for a JOB and usually are unemployed. I'm looking for people who're looking for me, and already have a JOB. I know that sounds "canned" but seriously I am looking for people who have a job with the rat-race that comes with it, who want a way out! I can train them, while they keep the security blanket job that pays the bills, and they can begin to learn a new career ... part-time. Then when their part-time income surpasses their full time JOB, they can make the transition to full time without any sacrifices. To me that makes a lot more sense, wouldn't you agree??

I also realize that when they're working at their JOBS, I don't try to recruit them then & there. It puts them on the spot & also makes for a very uncomfortable situation as their boss may be watching & also it's not ethical. I mearly get their name & phone number where I can call them when they're not at work and then follow up.

Seriously, if your best friend knew about an opportunity where you could own your own business, have total freedom from a job, and make as much money as you're willing to work for (ethically) .... but they did not tell you about it ... how would you feel? Then, five or six years later you find out that they're now earning $50,000 a month, You're still stuck in a job making that much per year, or your company downsized & you're now polishing up your resume, and trying to find another job ... how would you feel about your friend, then?

Or how about this scenario: Your friend did approach you ... but you were offended by their timing and said this all sounds too good to be true, maybe this is a scam, & I've checked it out on RipOff.bomb & said not only "NO" but "H-NO!" Then five or six years later, you meet up with your same friend in their New BMW & they have offices throughout the city & in 7 or 8 other states ... and has begun establishing offices all over the World .... how would you feel then?

You see all opportunities come disguised in the form of hard work. Almost no one today wants to work hard, but there's a few of us who work hard but we're in the wrong vehicle. It's like being a winning "Indy 500" driver at the brickyard .... trying to take the lead in a Volkswagon Beetle!

Now I"m not knocking jobs, we need school teachers (I was one in the Peace Corps), engineers (been there done that!}, sheet metal fabricators (done that, too!), Office supply - customer service (ditto!), nurses, reporters, judges, farmers, truck drivers, contractors, clerks, store managers, union stewards, stocking clerks and many, many other jobs, to keep our society working. Our society depends on a wide range of skills to keep our economy flowing. But I finally decided I did not want to "become" any of those. Primerica gave me a chance to help others & get paid well to do that & the freedom to choose who I want to work with.

I know you'll say I'm brain-washed. I was brain-washed, that is true, by my parents & by universities. "Go to a great university, so you can get a good job with good pay & great benefits. And at retiremnent get a gold watch & a nice pension (with social security and pension it amounts to about 50% - 60% of the 100% you couldn't live on before!) We're seeing what happen to the pension plans already & social security will become bankrupt by the time we need it. My son will be supporting someone on Social Security to the tune of about $1500 a month coming out of his pay check... so the system is about ready to implode with the 78 million baby boomers fast approaching 65!!

That's why we recruit. Is it easy? Nope! But what we do is simple. It requires licensing, too! (that's not so easy or simple) Anyone with half a brain can do it, provided they work hard & understand that this is not a job but a career.
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#38 UPDATE Employee

Hi Annie in New Orleans....

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

Hi Annie,

Sorry you had a bad experience. We are not bottom feeders. I have met people while conducting business (shopping) in malls, as well as other businesses, that were very personable & demonstrated to me that they have good people skills. They're in sales so they have no preconceived negative notions about sales & evidently enjoy it, or they would not be doing it, right? I can train almost anyone, provided they're honest & have good character, are coachable and no felonies. But I have not yet discovered a way to train great people skills, desire or enthusiasm!

When I do meet someone of that caliber, I would certainly love to recruit them into my business. (Or at least give them the opportunity to tell me no!) Of course it's totally up to them. If they're offended, it's not my fault, it's just their preconceived notions as to what they may or may not think about me.

I do not rely on resumes or websites where people post their resumes. These people are looking for a JOB and usually are unemployed. I'm looking for people who're looking for me, and already have a JOB. I know that sounds "canned" but seriously I am looking for people who have a job with the rat-race that comes with it, who want a way out! I can train them, while they keep the security blanket job that pays the bills, and they can begin to learn a new career ... part-time. Then when their part-time income surpasses their full time JOB, they can make the transition to full time without any sacrifices. To me that makes a lot more sense, wouldn't you agree??

I also realize that when they're working at their JOBS, I don't try to recruit them then & there. It puts them on the spot & also makes for a very uncomfortable situation as their boss may be watching & also it's not ethical. I mearly get their name & phone number where I can call them when they're not at work and then follow up.

Seriously, if your best friend knew about an opportunity where you could own your own business, have total freedom from a job, and make as much money as you're willing to work for (ethically) .... but they did not tell you about it ... how would you feel? Then, five or six years later you find out that they're now earning $50,000 a month, You're still stuck in a job making that much per year, or your company downsized & you're now polishing up your resume, and trying to find another job ... how would you feel about your friend, then?

Or how about this scenario: Your friend did approach you ... but you were offended by their timing and said this all sounds too good to be true, maybe this is a scam, & I've checked it out on RipOff.bomb & said not only "NO" but "H-NO!" Then five or six years later, you meet up with your same friend in their New BMW & they have offices throughout the city & in 7 or 8 other states ... and has begun establishing offices all over the World .... how would you feel then?

You see all opportunities come disguised in the form of hard work. Almost no one today wants to work hard, but there's a few of us who work hard but we're in the wrong vehicle. It's like being a winning "Indy 500" driver at the brickyard .... trying to take the lead in a Volkswagon Beetle!

Now I"m not knocking jobs, we need school teachers (I was one in the Peace Corps), engineers (been there done that!}, sheet metal fabricators (done that, too!), Office supply - customer service (ditto!), nurses, reporters, judges, farmers, truck drivers, contractors, clerks, store managers, union stewards, stocking clerks and many, many other jobs, to keep our society working. Our society depends on a wide range of skills to keep our economy flowing. But I finally decided I did not want to "become" any of those. Primerica gave me a chance to help others & get paid well to do that & the freedom to choose who I want to work with.

I know you'll say I'm brain-washed. I was brain-washed, that is true, by my parents & by universities. "Go to a great university, so you can get a good job with good pay & great benefits. And at retiremnent get a gold watch & a nice pension (with social security and pension it amounts to about 50% - 60% of the 100% you couldn't live on before!) We're seeing what happen to the pension plans already & social security will become bankrupt by the time we need it. My son will be supporting someone on Social Security to the tune of about $1500 a month coming out of his pay check... so the system is about ready to implode with the 78 million baby boomers fast approaching 65!!

That's why we recruit. Is it easy? Nope! But what we do is simple. It requires licensing, too! (that's not so easy or simple) Anyone with half a brain can do it, provided they work hard & understand that this is not a job but a career.
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#39 Consumer Comment

Gary, you're spinning...

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

Gary,

It's tough to believe that you actually had the nerve to say that most of the comments are coming from four or five individuals who are "the competition." From what I can see, there are a great many people like the woman who posted here that feel that they have been mislead by people that work for your company, myself being one of them. Their stories about their initial encounters with Primerica are all eerily similar. It seems that this is Primerica's way of trying to capture their recruits. Either you are lying, work for a "branch" that does not behave this way, or are ignorant of what seems to be Primerica's modus operandi.

Either way, you should be forthcoming and honest, and quit with the line of "its isolated bad apples that do this" that you respond with to every person that says something negative about their experience with Primerica. The overwhleming majority of comments on this site are negative. That should tell you something. Perhaps you should try to figure out why that is, instead of trying to tell everyone with a complaint that they are wrong, and it is them, not Primerica that is the problem.

Perhaps if you and the other Primericans changed the way you operate, you would find yourselves being mentioned on this site alot less. Just a thought.
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#40 Consumer Comment

Gary AGAIN incorrectly states Primerica is a 'division" of Citigroup

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

Primerica is NOT a division of Citigroup. Its a wholly owned subsidiary. If it were a division it means the general assets of Citigroup would be
on the line everytime primerica wrote an insurance policy. As a wholly owned subsidiary it means Citigroup has NO LEGAL OBLIGATION WHATSOEVER to the policyholders of primerica.
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#41 Consumer Suggestion

L - Listen to your gut instincts

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

L,

Listen to your gut instincts...anyone that hangs around malls looking for business is a "must stay away."

These Primerica people are desperate. As someone who works for herself, you know how hard it is to generate income. However, it also sounds like you know the boundaries of good taste. Talking up your art to prospective customers, even mentioning your other ventures, all falls within the boundaries of good taste when conversing with people who visit your artist booth. Remember, they visited your booth, not vice versa.

Being approached to sell you something while you are simply trying to do your work is simply RUDE.

I have had the same thing happen to me. I have been shopping with my children and accosted by these bottom feeders. They are taught to do this -- troll shopping centers for prospects.

How pathetic. Stay away.
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#42 UPDATE Employee

Hi L in Gresham, OR

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

FYI .... I've been with PFS for many years (Primerica) & I apologize for any misconceptions you have been given by either this website or the couple who contacted you.

We're a marketing division of Citigroup & since we are in the financial services arena we must have a license in all aspects in order for us to get paid. That $199 fee covers the training material, PFSU class & a background check. It costs the company anywhere from $450 or more to bring a person on board, depending on what state you're located in. When you complete the licensing & training you get reimbursed a guaranteed $200.

If you noticed most of the negative stuff on this website comes from about 4 or 5 of the same people, who by the way are not in PFS, but are the competition (opposition). However, a few heart-felt postings come from people who felt ripped off mainly because they have the impression this is a job. But it's not! We can't say that ... as it's a compliance issue. We recruit & train people for part-time & full-time management positions and they are independant contractors (1099) who have the opportunity to become RVP's. Reg. Vice Presidents are full time & have an exclusive contract & if they show growth over a 5-year period & produce 2-3 RVP's then the company gives them ownership of their organization. Which they can keep, leave to their heirs, or sell at 6 - 8 times their annual income.

My Senior Vice President can sell his organization (conservatively speaking) right now for at least $3,000,000 if he wanted to just retire. He's not doing that, as he's building a legacy for his daughters & his grand-kids & great grand-kids! He came into this business in 1985-86 - a teacher working with mentally challenged children. He has a Master's degree (Developmental Psychology) but that did not prepare him for this company & he started at the bottom with everyone else. (Note: in High School all of his grades were D's with one C+ in book-keeping). Definitely (he's) not the sharpest tool in the shed, as he's a slow learner, but he's honest & will outwork any of us on his team!

If you can locate this magazine in your public library: "Success from Home" - Volume 1, Issue 3, July 2005, they did an entire magazine issue on our company. (Which has been in business - 29 yrs - since 1977.)

Have a blessed day!
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