Primerica rip-off! Lincoln, Nebraska.

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*UPDATE: Primerica offers a good business opportunity & stands behind its products & services- - Company Executives have told Rip-Off Report that Primerica pledges to resolve complaints & address any inquires from the past, present & in the future.

I too, was contacted by Primerica. They were not aware of what I do for a living, or they would not have contacted me. I have been in the insurance industry for 22 years, and of course knew about Primerica. I won't go into my history, professional designations, etc. as they do not matter here.

When the call came, my first instinct was to laugh and hang up, but then thought I would have some fun, and agreed to meet. When I got to their location, I was asked to fill out an application form. I refused, and asked to speak with the manager. The "Regional Manager" was there, and we met in his office.

I stated I had "some" management experience and asked about the opportunities at Primerica. Wow! I could open my own office, recruit my own people, and be in six figures within a year! And-manage alot of my own clients- just like he did. He had "over 1500" which he "inherited" from people who had "moved on." Also, I would receive training! This BS went on for another 10 minutes or so, and I came clean.

I said I was already in the business, and asked what he would recommend Primerica do in the following situation:

My client is 72 years old, owns several farms, is retired, has two children- one who runs the farms, one who is not involved. The A/B Trust was set up before his wife died, the Buy / Sell is established with the children, the Keogh and SEP are in place, RMD's being distributed, also owns a Charitable Remainder Trust.

Problem: He now wants to sell one of the farms and buy some commerical real estate in the city. Question for you: There is approx. $800,000 of gain on the sale- what would the advantages of executing a Sec. 1031 exchange of the property?

Blank Stare... a little chuckle from me... out the door.

The point is... there are thousands of people like him, and I have seen the damage done by poorly trained, clueless people in my business can do. As a rep. for Primerica- you don't even know what you don't know- and never will.

Ron
Lincoln, New Mexico
U.S.A.