Report: #5822

Complaint Review: Primerica

  • Submitted: Fri, July 20, 2001
  • Updated: Fri, July 27, 2001
  • Reported By: Corpus Christi TX
  • Primerica

    , Nationwide ,GA, Canada

Show customers why they should trust your business over your competitors...

Just finished with a customer who came to me from a Primerica Regional VP with instructions to sell the stock out of his brokerage account and get a cashiers check.

Being a registered stock broker in a banking environment for 12 years, I knew something was wrong with this request. I spoke longer with the customer, his girl friend, the Primerica rep himself. He didn't know that stocks take 3 days to turn in to cash. This is investing 101.

He was advising the customer to sell stock that had no cost basis and may mean a significant tax inplication and yet didn't advise the customer to check with his tax-advisor.

I couldn't understand why he was advising the customer to sell the stock and get a check. In our industry, we transfer entire accounts, sell the stock, if needed and we get the commission. This guy was allowing me to take the stock commission. We finally decided he didn't have the more advance license that would allow him to advise or sell individual stocks.

I advised the customer that this person had not been in the financial services industry for long and probably didn't have the experience needed to advise him on investment his life savings.

I'll keep an eye on Primerica, my customers deserve better.
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Updates & Rebuttals

This email is a rebuttal to RipOff #5822.

It was sent by Alicia at

Primerica, Company VP not experienced in investments (#5822)

They filed the following rebuttal to the above Rip-Off Report:

Their email:

Their name: Alicia

Their relationship to the company: Consumer Suggestion


I have dealt with Primerica myself. I have saved thousands of dollars in interest fees andgot into a great mutual fund. I have to ask anyone who believes what they read to consider the second side to the story. There is always a bad egg in every business.

This doesn't mean the whole business is bad. I myself just consider the source: take for example this site!

Look to the left and see the obvious scam here....they want you to send them money to keep this site going!!! I have sites myself and it doesn't cost but $25 a year!!!!

EDitor's Comments to the above:::::::

Well, lucky you. You have no clue as to what costs are for a real web site. Besides our time helping consumers get their money back (if you have read the Rip-off Reports), you would know our time and expenses need to be paid for. This has been voluntantary.

YOU PAY $25.00 a year? LUCKY YOU.

How many pages on your web site your hosting for $25.00?

How much traffic do you get to your site?

Do you get 8 or 10,000 users at once?


Because of the programming, this was not an easy site to create. It is a complex series of tables, large scale database system and has a tremendous amount of customized programming to do the varied search components available to the consumer. Also, due to the constant changes and evolution of the site, primarily responded to requested features from the users, we

are always building on it. Always. Could this all be worth $25.00 a month?

But wait, there's much more.

There are about 5,000 web pages to the Rip-off Report and growing every hour every day. Each Rip-off Report is like it's own web site and is submitted to the search engines, so for instance, if someone is looking for Primerica on almost any search engine, Rip-off Reports on Primerica will come up. Do you get that with your web site?

There's more. As to hosting being inexpensive, we are hosting a web site, 50+ DNS (web names) entries, with full search engine placement facilities, and have a dedicated database server for our data. Also, we have enhanced firewall security due to the nature of the Rip-off Report to fend against hackers our web site, and we need to monitor & manage the system constantly. Still think this is a $25.00 deal?

Last is our traffic, because of the massive amounts of traffic to the site our bandwidth is enormous, for instance when we appear on local or national news shows we require a burstable line which also adds to the monthly hosting costs.

What do you thing the total would be for all this?

Rip-off Report requires everything from cameras, computers, technicians, office supplies and not to mention all the long distance phone calls, hi speed Internet services, costs to investigate rip-offs and all the time we give to consumers that cannot afford any other type of help. We need more help and that costs money.

Obviously you do not think the Rip-off Report is a valuable asset to consumers, so I guess I'm wasting my time.

You do what you do best by scaming unsuspecting consumers. We will do what we do best, by providing a voice for consumers who were ripped off by people like you, and helping those victims go after companies like Primerica.

Your financial support in continuing these efforts would be greatly appreciated.$1.00, $5.00,$10.00... or what ever you can?

Your NON-tax deductible donation should be sent to:

Volunteers at:, llc

PO Box 310 Tempe, Arizona 85280


ed magidson -EDitor

Don't let them get away with it.

Make sure they make the Rip-off Report!

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