Rip-Off Report Investigative Progress Report on Primerica Financial Services – 10-16-08

*UPDATE: Rip-off Report re-evaluated Primerica Financial Services and finds that the company continues to offer a business opportunity that is well worth considering. Thru our experience with Primerica, we continue to find that they maintain a high level of commitment to treating consumers fairly and in most cases they have gone way beyond the call of good customer service. Since Primerica became a member of the Corporate Advocacy Business Remediation & Customer Satisfaction Program almost 2 years ago, Rip-off Report has continued to monitor Primerica and work closely with home office executives to resolve consumer and agent inquiries and concerns. Rip-off Report is pleased to report that Primerica continues to show outstanding commitment and dedication to respond and resolve issues promptly, many times going over and above the expectations of consumers and this website. To our knowledge Primerica has responded to all legitimate inquiries we have forwarded to them, and to inquiries the company has received directly. We at Rip-off Report believe that Primerica is a solid, reliable company that stands behind their agents and its products. If you think that becoming a Primerica representative or buying a Primerica product is right for you, we would urge you to give the company careful consideration.

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NOW TO THE ORIGINAL REPORT THAT WAS FILED
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PRIMERICA INVESTIGATED
EDitor's Comment: Rip-off Report Investigation: Primerica gets a POSITIVE RATING in customer support from Rip-off Report and is fulfilling its commitment to provide excellent customer service. Primerica pledges to resolve complaints and address representative issues. For a long time this EDitor had concerns about Primerica because of the number of Reports about them. For many months Rip-off Report was looking into the company, even before they contacted us to resolve any issues and mostly misunderstandings being posted by competitors. With over 100,000 representatives and 6 million clients, Primerica is bound to be the subject of a certain number of complaints about improper agent conduct, as well as product and administrative complaints.

Rip-Off's investigation found such complaints, but importantly also found that Primerica is committed to resolving such complaints quickly and doing everything possible to satisfy its clients. It also takes appropriate action against any of its representatives who are found to have conducted themselves improperly or unethically. We believe that the number of complaints against this company, whether through the Internet or other channels, is small when put into the context of its enormous size. Most big companies would never commit themselves like Primerica has. Read our investigative Report and Primerica's commitment to 100% consumer satisfaction.

www.primerica.com provides products and services through independent representatives. Primerica www.primerica.com has more than 100,000 licensed representatives who serve more than 6 million clients in the U.S., Canada, Puerto Rico, Spain and the United Kingdom. Through a Financial Needs Analysis www.primericafna.com, the company's representatives provide a snapshot of a family's financial picture and suggest a strategy for financial security via Primerica's products and services www.primericafinancialsolutions.com. Primerica's business opportunity is attractive to people from many different backgrounds, including women www.womeninprimerica.com, African-Americans www.primericaaalc.com, Hispanics www.primericalatino.com and young adults www.generationprimerica.com.

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I recently received a call from a recruiter representing Primerica. However, my caller ID indicated it was Larry's computers.

Further inquiry revealed he was calling from another business line. When asked where he obtained my resume, it was a legitimate site.

I set up an interview, 45 minutes of my time is worth gathering information. The interview had nothing to do with my skills as an Instructional Designer, Consultant so I asked where he saw me fitting into the company.

'As a manager' was the response.' I asked who were the company's competitors and was told none. I was invited back for a second interview the following night.

Now the red flags were going up. I checked the Web site for Primerica which was very comphrehensive. I gave Larry the benefit of the doubt and thought that most people in a current job could not take time off 2 days in a row; therefore, the night meeting.


This interview was actually an orientation meeting. A few of us asked direct questions but were given vague answers by the trainer.

But, the discussions were about how to help people get out of debt. Reputable sources and articles were presented the CEO and the office we were in was that of a Regional director.

So far,so good. Then Larry takes me aside and asks me to fill out information about myself...background, education, etc. When it came to references and I said I would have to fill that in later due to the fact that I did not have my address book with me, he said that I should think of as many people as I can for refernces. It asked for 6 which struck me odd since most ask for 3.

I was invited to a training meeting on Saturday. Still not ready to pass negative judgement, I went. Now, all the flags were going up and waving in my head.

We watched a video of 2 top Primerica entrepeuners. When I started to hear 'Amen' and 'Yes' chanted in the background of both the video and from the people in the room with me, I felt as if I was in a cult.


After the video, I asked Larry if this organization had any similar qualities to Amway. 'Oh NO, we help people.' When I stated what I got out of the meeting and video was the recruiting of people and nothing about helping people get out debt, he clammed up and his brother jumped in with a very clear explanation.

Yes, Primerica helps people with financial services but the bottom line is You recruit people and they recruit people, etc. and that is how you make your money. I continued to ask questions and the answers were vague and come to more meetings.

Although this is not a true Pyramid set up since there is no money passing hands, it has the foundation of one. People substitute the money issue. It doesn't matter what Primerica is providing or not selling (as is the case of Amway), the product has nothing to do with the way it operates.

The recruits I met had little or no college education, and came from a variety of backgrounds. I have no prejudice with working with a mixed variety of people, but I also work a job where higher salaries are based on education and experience.

I have a Master's degree and felt as if I would start from zero with this company. I do not want more training for an entirely new career.

Plus, when I started questioning the integrity of the company or the people who represent it, and my answers were vague, I knew it was not for me. Perhaps comparing Primerica to a cult is unfair, but when chanting 'Amen' after statements made by a presenter are heard, and this is not church, I think one should examine the company more closely. For some, Primerica may be their 'thing'.

Danielle

San Diego, California