Primerica Charged $199.00, stated money could be made. This is no more than a pyrimid scheme. Monroevlle Pennsylvania

---

*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.

99.8% of primerica agents don't know if they are helping families or not because they don't know the difference.

Leaving a family underinsured because you sell overpriced term insurance is not HELPING a family.

Primerica's average death benefit paid on their term policies is $43,000 under the industry wide average for term insurance claims. I can't help but believe the reason for this is a combination of two factors. They target people who have a tight budget and their premiums are high.

The not-too-SMART loan is just plain bad for all families no matter what. Interest rates matter MOST on a loan. Any payment plan primerica sets up can be duplicated elsewhere and with an interest rate 1.5-1.75% lower than they will get from primerica they will save $85,000-90,000 over 20 years on a $250,000 loan. Simple versus scheduled interest is really a non-factor, The absolute most difference in interest paid between a simple and scheduled interest loan will be 30 days worth of interest....and a loan at 1.5% lower will make up that difference in the first few months of the loan.

Quoting:

"Some people probably should not be in Primerica, but is this a reason to critize the entire company?" Crimerica is still rotten to the core (i.e. the fat cats).

"We calculated my pay and I should be recieving about $400-$500, which is a big deal considering that many people don't manke anything the first few months." A big reason why many people don't make anything at all to start with is that they start off unlicensed so their "trainer" gets the commissions for sales made to the recruit's warm market (friends and relatives).

"The compnay is a pyramid, but I find that interesting. Unlike other jobs, we are getting paid for the effort and hard work that we put into the job and are not getting paid for the position we hold." Then why do you have positions such as
RVP and others in Crimerica's hierarchy? These commissions in these positions are based on your downline which is why I term Crimerica as a "pyramid-schemed company."

"If ________ is so bad, why is it on the Dow Jones 200?" This is a lie as Crimerica isn't traded on
the stock exchange. It's their parent, Citigroup,
which is part of the Dow Jones. Crimerica is a pimple in comparison.

"I will be looking forward to writing more when I am a V.P for Primerica and will be able to offer more about my success. Thank you for the views though. I will definitely be keeping my eyes open more closely in the future and I appreciate everyone who took the time to read this legnthy comment." Let's see what happens next year. I'm betting you'll be leaving with over another 100,000 agents who quit each year.

First of all, I am a newly representative to Primerica, also known here as Crimerica! I started the second to the last week in August and today is September 18th. I paid the $199 and have my producer's or life license and am going to be working on my securities license within the next month. One of the things that is true with Primerica is that you don't have to have a high school diploma or any college, but many of the people that are working in Primerica have come from other financial institutions or business from my experience.

Some people probably should not be in Primerica, but is this a reason to critize the entire company? Since I have come on board, I have not beed paid thus so far. I have, however, made several sales and am awaiting a few checks within the next week. We calculated my pay and I should be recieving about $400-$500, which is a big deal considering that many people don't manke anything the first few months.

The compnay is a pyramid, but I find that interesting. Unlike other jobs, we are getting paid for the effort and hard work that we put into the job and are not getting paid for the position we hold.

First of all, all stores and people are different. I have sat down with a few families that Primerica has helped in a positive way. I have also sat down with families that Primerica would harm and I did not sell our products to them. If the representatives are doing the right thing by following the company guidelines, we would find that we should NEVER put a negotive impact on a families financial lives. That is just not the companies mission.

If Primerica is so bad, why is it on the Dow Jones 200? Yes there are not a lot of people making big bucks, but they don't go to class, they don't work hard. I have passed up people that have been with Primerica for three months! I am not in it for the money. I am happy that I am not working for Taco Bell anymore. Let's just say that I am making more a year than I was there. I am a college student and am going to obtain my degree in the Spring, but I am loving what I am doing.

Yes, it is a lot of hard work, dedication, but to get anywhere in this world, that is what you need. Success comes at great legnths. Not everyone is right for this company and I respect that, but I do believe that we try and help people! I am responding to this as well as reading because one of my friends thought Primerica sounded like a scam and was looking out for my best interest, which brought me to all the negativity! That is exactly what it is too!

When the one woman talked of her sister working for Primerica, the people on this site bashed her! Why? Because her sister did well? What is wrong with that? I can understand that people have negative experiences, but the hate that is pouring out into some of these comments is ridiculous and makes me push aside the views as whatever and move on in my life.

I will be looking forward to writing more when I am a V.P for Primerica and will be able to offer more about my success. Thank you for the views though. I will definitely be keeping my eyes open more closely in the future and I appreciate everyone who took the time to read this legnthy comment.

NY Rates....
male age 36 1,000,000
female age 30 1,000,000
child term rider included

A+ rated company. (the editors here won't allow me to say who)......$760 per year = $63.33 per month + monthly service charge..usuall $2-3.

Thats what I mean by bloated rates.

Primerica IS the insurance company. You are insured by Primerica Life Insurance Company.

It IS NOT part of Citigroup. It is a wholly owned subsidiary of Citigroup. What that means to you is if Primerica should some day not be able to pay its claims you have no legal recourse to make Citigroup pay the cliam. They are insulated from any liabilities Primerica may have.

Primerica cannot revoke your license if you leave them. They can however revoke your APPOINTMENT to sell with them. Your license remains intact and you are free to start selling with anyone else who will appoint you. It takes 6, maybe 7 minutes to find someone else to appoint you. Make one call to one of the other leading national agencies and you can be appointed with dozens of companies at once thereby allowing you to find the best possible deal for your clients instead of being able to sell only for one company.

I do not know about California, but life insurance in NY can be pretty expensive. Before Primerica my husband and I were insured at $75 monthly just for $150,000 each and the kids were not included. This was a regular rated A company. Now with Primerica we pay $89 monthly, our two children are insured and our policy is just below a million, so I do not know what you are talking about. I am 30 non smoker, perfect health, so is my husband except he is 36.
People do not understand Primerica is not the insurance company. Primerica itself has nothing to do with premiums?. The reps comes to your house fill the application ask you what they need t o ask and send the application to the insurance company Primerica uses to process the application. This company it is also part of Citigroup.

All insurance companies are regulated, if they were doing something so illegal in a given state, they would have that particular state officials all over them.

Someone mentioned somewhere in this website that if he/she leaves Primerica his/her license can be revoked. In the state of NY my license was issued by the Superintendent, who is appointed by the governor of NY State when he starts his term. This person stays in that position until we vote again. So, how in the world can Primerica take something I studied so hard for and requested to be licensed by the state itself?

Individuals can get their licenses suspended or revoked for doing phony business, but if you are a honest individual why worry?

I would like to know what software you are using.
The firs thing I was told in life insurance pre licensing class is that women pay lower premiums than men do.

Maybe that is the way it is in California but not in NY.

I do not know about California, but life insurance in NY can be pretty expensive. Before Primerica my husband and I were insured at $75 monthly just for $150,000 each and the kids were not included. This was a regular rated A company. Now with Primerica we pay $89 monthly, our two children are insured and our policy is just below a million, so I do not know what you are talking about. I am 30 non smoker, perfect health, so is my husband except he is 36.
People do not understand Primerica is not the insurance company. Primerica itself has nothing to do with premiums?. The reps comes to your house fill the application ask you what they need t o ask and send the application to the insurance company Primerica uses to process the application. This company it is also part of Citigroup.

All insurance companies are regulated, if they were doing something so illegal in a given state, they would have that particular state officials all over them.

Someone mentioned somewhere in this website that if he/she leaves Primerica his/her license can be revoked. In the state of NY my license was issued by the Superintendent, who is appointed by the governor of NY State when he starts his term. This person stays in that position until we vote again. So, how in the world can Primerica take something I studied so hard for and requested to be licensed by the state itself?

Individuals can get their licenses suspended or revoked for doing phony business, but if you are a honest individual why worry?

I would like to know what software you are using.
The firs thing I was told in life insurance pre licensing class is that women pay lower premiums than men do.

Maybe that is the way it is in California but not in NY.

I do not know about California, but life insurance in NY can be pretty expensive. Before Primerica my husband and I were insured at $75 monthly just for $150,000 each and the kids were not included. This was a regular rated A company. Now with Primerica we pay $89 monthly, our two children are insured and our policy is just below a million, so I do not know what you are talking about. I am 30 non smoker, perfect health, so is my husband except he is 36.
People do not understand Primerica is not the insurance company. Primerica itself has nothing to do with premiums?. The reps comes to your house fill the application ask you what they need t o ask and send the application to the insurance company Primerica uses to process the application. This company it is also part of Citigroup.

All insurance companies are regulated, if they were doing something so illegal in a given state, they would have that particular state officials all over them.

Someone mentioned somewhere in this website that if he/she leaves Primerica his/her license can be revoked. In the state of NY my license was issued by the Superintendent, who is appointed by the governor of NY State when he starts his term. This person stays in that position until we vote again. So, how in the world can Primerica take something I studied so hard for and requested to be licensed by the state itself?

Individuals can get their licenses suspended or revoked for doing phony business, but if you are a honest individual why worry?

I would like to know what software you are using.
The firs thing I was told in life insurance pre licensing class is that women pay lower premiums than men do.

Maybe that is the way it is in California but not in NY.

"I am sick of people stating that primerica is a "pyramid scheme"." Then why are you here on Ripoff Report? Nobody's twisting your arm to come over.

"Most if not all companies are pyramids." Everybody (but shillers such as Jeff) know that most companies aren't pyramids because people mostly derive their income from base salaries which aren't dependent on what other workers do. Even those who get commissions is mostly based on sales, not recruitment activity. At crimerica, the only way to make the big bucks at this pyramid-schemed company is to do a lot of recruiting (but the market doesn't support it which is why over 100,000 agents quit every year).

"And the the $199, Primerica doesn't get that the government does. I know in my state, NY, the licensing fee is $600-700. If I were to take the licensing course without Primerica it would cost a lot more than the simple 199 wouldn't it. And you get the cost of the state test back when you pass it. Most jobs don't cost any start-up but this is not a job. You fill out an IBA, what's that you ask, it's an Independant Business Application. Yes __________ offers you the chance to start your own business. Sure you have to follow compliance with the company and those that don't, when found out, are reprimanded for it." Looks like you've read
Victor's posting with my rebuttal. As far as Crimerica giving you the so-called chance to own your own business, just read the IBA contract to
confirm that Crimerica owns the clients along with your downline so, in effect, you'll never have a business of your own under Crimerica.

"A lot of insurance company agents hate us because we take their business." It's never been documented, in fact many competitive agents come on to Ripoff Report thankful to Crimerica because
they've derived a lot of new clients from Crimerica.

"Lastly, we "troll" these forums because new representatives in the company sometimes come across these sites and get mislead by the "information"." However the misleading, lying and deceptive garbage posted by the Crimerican shillers (such as you) always need to be rebutted to help out the recruits and the consumers.

Burn this into your brain, shiller:

"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."

I am sick of people stating that primerica is a "pyramid scheme". Most if not all companies are pyramids. First you have the peons at the bottom and go all the way up to the presidents and CEO's. You get less and less people as you move higher up in positions. This is how all companies are and it basically works out to a pyramid only in Primerica the top "CEO" spot, our Senior National Sales Director position is open to anyone that wants it. You have to work to get there but if you want it you can go ahead and get it. You don't have to wait for one to retire or die there's no cap on how many SNSDs there are.

And the the $199, Primerica doesn't get that the government does. I know in my state, NY, the licensing fee is $600-700. If I were to take the licensing course without Primerica it would cost a lot more than the simple 199 wouldn't it. And you get the cost of the state test back when you pass it. Most jobs don't cost any start-up but this is not a job. You fill out an IBA, what's that you ask, it's an Independant Business Application. Yes Primerica offers you the chance to start your own business. Sure you have to follow compliance with the company and those that don't, when found out, are reprimanded for it.

Lastly, we "troll" these forums because new representatives in the company sometimes come across these sites and get mislead by the "information". If you really looked into it, this is the internet. Anyone can post anything about anything on here. I'm sure you can find the same amount of negative press about McDonalds, Home Depot, any kind of public company. And when you do things that are good you're still going to get negative press about it from people that don't like what you're doing. A lot of insurance company agents hate us because we take their business. Read up on life insurance you'll see why term is so much better.

Shelsi in Buckersfield

Primerica and the law of large numbers;

If you throw enough *!@# against the wall some of it may stick. In MLMs if you get enough people to try it 1 in 1,000 will find success, then you publicize the hell out of them so you can get another 1,000 in.

Your sister and her hubby are selling people overpriced life insurance (thus causing them to be overpremiumed and underinsured) and criminally high interest rate loans.

p.s- the country fried steak at Buck Owens Crystal Palace there in Buckersfield, CA is the best anywhere.

this is a website for victims of consumer ripoffs. are you trolling on behalf of your sister the crimerica "employee"?
why dont you spend your free time comparing her not so smart loan rates against those of your local bank and ask yourself if you would want big sister selling a loan to your mom or dad...

this is a website for victims of consumer ripoffs. are you trolling on behalf of your sister the crimerica "employee"?
why dont you spend your free time comparing her not so smart loan rates against those of your local bank and ask yourself if you would want big sister selling a loan to your mom or dad...

this is a website for victims of consumer ripoffs. are you trolling on behalf of your sister the crimerica "employee"?
why dont you spend your free time comparing her not so smart loan rates against those of your local bank and ask yourself if you would want big sister selling a loan to your mom or dad...

I know the people who are trying to recruit others to either invest with them or join their team can be pushy or really enthusiastic about all the money you can make. It is definately not a business for everyone and I know I probably would not be successful in it, but I know people like my sister and her husband are becoming very successful with primerica. I have never seen two people work so hard in my life. They are moving up and making money and loving every minute of it. They are both younger than 25 and have two children who they want to provide a good living for.


They have goals and are motivated to be successful and I admire them so much! They did pay that initial $199 and they both studied hard and passed the different tests so that they could become liscensed. That really is what the $199 payed for. I hope you weren't scammed by someone pretending to work for primerica, or even a crooked employee. My parents worked for primerica years and years ago but quit because it was too much work. The people that trained them, though, are actually millionaires now and my sister has met them and they are hardworking, down-to-earth people. Well, take care and know that to be successful at anything takes a lot of work and dedication.

Dawn says she pays $34.55 for $150,000 of term insurance with primerica. That is $414 per year.

If Dawn is a smoker she would have to be 27 years old to have that rate at primerica. A 27 year old female smoker can purchase $150,000 of 20 year term insurance with another company rated A or higher for... $189 per year.

If Dawn bought 30 year term insurance instead she would have to be 21 to get that rate at primerica. A 21 year old female smoker can purchase 30 term insurance with another company rated A or higher for..... $183

Since we don't know exactly how old Dawn is look at these comparisons putting Dawn at different ages. Remember....Primerica is $414 per year.

If Dawn is preferred non-smoker, $150,000 term insurance;
age 30...................$114 per year
age 35...................$124 per year
age 40...................$155 per year
age 45...................$198 per year*
age 50...................$267 per year**
age 55...................$406 per year**

*- the age Dawn most likely is
**- dawn can't be these ages and pay $414 a year for $150,000 term insurance with primerica. A 50 year old would be $592 and a 55 year old would be $988 at primerica.

If Dawn is a standard risk non-smoker she is 41 years old.....and she can purchase insurance from another A or higher rated company for $253 per year.

What is to be noted that in each case my software showed only 2-5 companies higher than primerica (out of slightly less than 600 on my software) while figuring out Dawn's quotes.

primerica's rates for women are especially bloated because they charge women the same price they do men. No one else does that to my knowledge.

Why anyone woman with a room temperature IQ or better would buy primerica term is beyond me. Anyone who would sell primerica term to a woman either has absolutely no product knowledge in the marketplace or doesn't care as long as a commission is generated.

Well, well, well they're stilling crawling out from the woodworks.

So you're so happy with Crimerica that you just happen to be trolling down to Ripoff Report shiller. That $199 doesn't pay for any licenses, just for the training.

"I have NOT PAID A DIME to them for all the financial help they have given to me." So who footed your bill and what type of financial are you talking about? (documentation to Ripoff Report would be in order).

Before you go back to one of your boring meetings, burn this into your brain:

"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."

post your age and health status and Leroy will show you just how much Crimerica has "helped" you with the life ins policy you are so happy about

I disagree with the rip-off statement. You paid $199.00 for the first two licenses if you chose not to get them it was your own fault. Primerica and there entire staff have done nothing bur help me get my life on tract and learn how to use my money the best way. I have NOT PAID A DIME to them for all the financial help they have given to me. As for life insurance i pay $34.55 a month for 150,000 coverage which is more then enough for my family if needed.. SO please keep up the good comments and RIP-OFF.COM should show some positive comments and not just negative ones.

Be thankful you woke up after only losing $199 and that the referrals you gave your half-trained RVP didn't end up in a sale to a friend. Your friend could have lost 10s of $1,000s of dollars had they been suckered into taking a not-so-SMART loan or bought overpriced life insurance.

Be thankful you woke up after only losing $199 and that the referrals you gave your half-trained RVP didn't end up in a sale to a friend. Your friend could have lost 10s of $1,000s of dollars had they been suckered into taking a not-so-SMART loan or bought overpriced life insurance.

Be thankful you woke up after only losing $199 and that the referrals you gave your half-trained RVP didn't end up in a sale to a friend. Your friend could have lost 10s of $1,000s of dollars had they been suckered into taking a not-so-SMART loan or bought overpriced life insurance.