Primerica - seems like a ripoff. I need information. Falls Church Virginia

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*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.

Donna, Best's Review has published their January issue for 2005. In this review is a full report on our company and what it stands for. Please get a copy of this reveiw and decide for yourself whether Primerica is the opportunity of a lifetime that you are looking for. In case you don't know A.M. Best rates Insurance Companies.
To find this review:
Primerica Life Insurance Co.
A.M. Best Company#06693
www.ambest.com

Division Leader

You ask:

"Has anyone been scammed from this company?" Ripoff Report literally has hundreds of reports showing just that. More recently in November it was reported that a Primerica executive went to jail for ripping off a senior citizen.

You also ask "How fast would I get a return on my $199?" The odds are over a thousand to one at being successful (this is based on an evaluation of a Primerica website. The link for it is:

http://ww3.primerica.com/public/primerica_disclosures.html)

When you check the fine print, you'll see they're
talking about "gross" income (before deducting all
the business expenses). And the website says it's
looking at a period of 24 years so it's suggesting
that Primerica's top earners are making less than
$5,000 a year (just follow the link and you'll see
what I mean).

I am still on the fence when it comes to pursuing a business opportunity with Primerica, solely as a result of the negative image of the company fostered by the many comments seen in these postings.

I have checked it out through and through many times over; I have invested time and money in the meetings and licensing courses; I have not made a single penny, but still feel I've won out in the end.

Merely going through the process of training and obtaining the licenses has made the money spent worthwhile. Within two months of obtaining my life and health license, I assisted my younger sister who's ailing father was on his deathbed without a will, active retirement plan, and more than two dozen worthless insurance policies. Primerica had taught me enough by then to assist her with terminating his active employment of 33 yrs at the same company, and salvage the lifetime pension he was at risk of losing had he passed away beforehand. He did pass within the next three months, but as sole beneficiary, she is now receiving the annuity payments for the rest of her life. This is not something I would have had the knowledge to do had I not set out to work with Primerica.

I have my own personal testimony of having conquered more than 13 years of useless debt, living as most americans do, with good & honest intentions, but saddled with all of the wrong choices and understanding about how to treat my finances. I've had good, steady income for years, never even came close to filing a bankruptcy, but simply was not financially secure. Primerica did not teach me anything new per se, but did lead me (more like compelled me) to look in all of the right directions. Within a year, I refinanced (proper understanding of the mortgage product I was accepting), paid off numerous credit cars and 3 vehicles, and was left with only a mortgage (plenty of equity left), and the first real start of a retirement plan and insurance for my family.

That is what Primerica really offers, to representatives and clients alike. I can't help but wonder how well Primerica's many critics understand and manage their own financial future.

Nonetheless, I haven't felt secure enough to fully pursue this opportunity. I am capable and knowledgeable enough about what to do, but can't seem to get past public opinion as overwhelming as what you will find here.

So, to sum up the answers to your questions:

Joined -Yes
How going - Not...but only by my choice
Scammed - No, don't even see how possible
Worth It - In more ways than money can usually measure.

Donna, thank you for your questions.
Most people would simply take the garbage on this web site as a reason to not give Primerica a try. That is unfortunate. I applaud you for investigating further.

Now to your specific questions.


Has anyone joined with Primerica?

Yes, I joined. My cousin joined. My best fiend joined. His daughter joined. Her cousin joined. Etc. Over 20,000 joined last quarter.


How's it going?

As a 57 year old person who has seen everything in business, this is a great place and it is going very well. However, read further to understand 99% of the negative garbage on this site.


How fast would I get a return on my $199?

Here is the crux of the matter. It takes, as it does with most businesses, an investment of time and effort to make it work and to get the money flow rolling in. If you want something that will make you 6 figures by the summer, go elsewhere. But if you want a real opportunity to make money, it can be done here. But be forewarned, most don't make it. Can you?


Has anyone been scammed from this company?

No, but... The company itself is 100% on the up and up. It is a major part of CitiGroup. But the reality is, as again in almost any business, the individuals may not be 100%. In my organization, we don't use the management ploy (I don't like that and I think it sets up the wrong expectations). My team correctly identifies this as a business opportunity (not a job) and you are invited to a business opportunity seminar, free of charge and with no obligation. Therefore, no one has incorrect expectations.


Did anyone go to the interview and enjoy being there?

It is not an interview. Again, that sets up the wrong expectation that this is a job. Did they enjoy the business opportunity seminar? Absolutely! We provide at our seminar information about finances that most people don't know. (The rule of 72, for example). We also explain the POTENTIAL earnings (via commission) ability and the structure that we use (which is MLM). If this is not correctly explained, your result is the negative, hate filled emotion on this web site.


After paying the $199 fee did you feel that it was worth the price?

Without a doubt. $40 or so goes to a background check. $150 goes to your enrollment in a state license school to get your state insurance license. (Primerica does not make anything off of the $199 even though many on this web site lambasted Primerica for doing this just to make money! Shows you how wrong a lot of the junk on the web site really is) Depending on the state, this is several hundreds of dollars. Additionally, you should ask your inviter about the scholarship reimbursement program. If you finish school and complete 6 FNAs, you get back $200. (You make a dollar) So there is no cost except your time.


Now some closing comments:
I know there are a lot of negative items, misconceptions, outright falsehoods, and deliberate lies on this site. Most are from those whose expectations were wrong (get rich quick, where's my paycheck, it's a job, it's a management position, How did you get my rsum?). I don't blame them for being upset and angry. This is not a pyramid scheme no matter how many times people incorrectly post that. It is a Multi-Level Marketing organization. MLMs are wide spread throughout America. AVON, Amway, Magic Chef and every real estate corporation or agency operates as an MLM. But they who post, in their frustration, are doing incalculable harm when new people like you read these negative writings and decide to not join the team. Perhaps you would be a 6 figure earning in 2 to 3 years. To take that away from you is not right. To poison you so that you don't try is not right. Also, agents of other companies are trying to poison people thinking about Primerica because we are converting thousands of their rip-off cash value policies.


If you other questions, I'll be glad to answer them.