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26, Report #173401
Jan 26 2006
01:37 PM
Primerica Pimpmerica RUN AWAY! RUN AWAY! ripoff Las Vegas Nevada*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.
About a week ago, I was introduced to this company by one of their reps who found out that I was interested in the Insurance industry. Great! I said to myself, as she invited me to talk to her about PIMPMERICA. Went to her office and chat briefly about the company. I have just finished my classes and testing for Property and Casualty, Life and Health. But while we were chatting, she said that they only sell term life insurance. I then responded, by saying that my class book said, that in the long run, term insurance cost more than whole life. She then said it does not, and a few other people say the same thing too, like Suze Orman, she quoted to me. (red flag) Hmmm, a company that only sells term I said to myself. Then, I as I agreed to to find out more about PIMPMERICA, I was invited to the company meeting at the Gold Coast Casino last night. I was taken aback by how many candidates (victims), were there! I hear this Mr Top Gun giving half the story about Verizon and the dropping of their pension plan (red flag!) As I'm listening to this PIMPMERICA B.S., I get my treo pda out, I do a google search on:PIMPMERICA, I then see PrimericaBuster. Everthing that Ken Young,posted on his site was happening to the T! Then some PIMPMERICA'ERESS RVP wannabe starts yakking about the money quadrant b.s., which is not even a real person! She then goes into to the Roy Kroc story, which she is twisting around. The more I sat there,the more I was getting pissed! I'm not one the to judge people, but first impressions,make first impressions! And those victims looked like people I would not want to have selling insurance to me! Taking your whole life policy and twisting it to a term policy? A higher interest rate is going to cost me less? Pay $199 to get a job? (red flag!) Give up 50% of your commissions? I could never be (PIMPED)rep for that kind nonsense! Fred Henderson, NevadaU.S.A.
Entity: Las Vegas, Nevada
27, Report #166970
Dec 05 2005
07:59 PM
Primerica great For All ripoff scam Denver Colorado*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.
I would first of all like to thank whoever it is that started this website. My fiance was contacted today while at work and was asked to return the call between 6-7pm tonight. We were both skeptical about the call before she made it, especially as I have been suckered into two scams already with Kirby vacuums and ACN phone company. When she made the call she put her phone on speaker so I could hear the information about this great career opportunity. As soon as the recruiter mentioned the name of the company I jumped online to get all the information I could. Thanks to google the second entry that came up for the Primerica search was this website, the first was Primericas. So naturally after checking out the Primerica site and reading about all the perks and great opportunitys with the company and I checked out this site. The very first posting was all I needed to see to alert me to this scam. Rick, the man who contacted my fiance was quick to answer basic questions, but any in depth questions would have have to be answered at the interview on Thursday night. The first time Rick contacted my fiance at work he told her that his wife had done some Christmas shopping at her store and received the best customer service. Upon answering my fiances call tonight Rick couldn't even remember who she was or when he had contacted her. This raised red flags that someone who earlier in the day was excited about her call couldn't even remember who she was when she actually made the call. The second red flag was raised when my fiance asked him to clarify how he had come accross her name. Rick said his wife had called into her store to check on some merchandise and my fiance had helped her very efficiently, he said his wife knows he's always looking for people with strong customer service skills for his company. About thirty other red flags were raised as the call progressed. Rick contnued to insure my fiance that all her questions would be answered Thursday at her interview. Rick also tried playing the success card by mentioning her interview would take place at the Tech Center office instead of in his private office up north. Red flag, red flag. Ricks reasoning for not answering her questions tonight was the fact he had very important business meeting to attend tonight with some of his clients. Red flag. Lets see, if I'm running a business and looking for elite employees I'm not going to ask them to call me while I'm preparing to go to a very important meeting. Important memo to all you Primerica owners out there. Clients and employees are not one in the same. If you have a very important meeting to attend don't ask a potential employee to call you while you're preparing. If someone is a worthy candidate to a high profile job they are going to have questions. If you aren't willing to answer them at the time of the call then don't ask them to call. Group interviews are not a key to a life of financial success. Worthy candidates are worthy of individual interviews. How are you going to know what type of employees are joining your organization when you bring them in with 100 other people. Private Denver, ColoradoU.S.A.
Entity: Denver, Colorado
28, Report #172465
Jan 19 2006
08:36 PM
Primerica Ripoff This company prays on the naive Anchorage Alaska*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.
I feel really bad for people that were suckered in by this company, I had a friend of the family that did and I almost tried it, but even looking for a job I avoided it. My experience with Primerica was back in 2001 when I was still an undergrad. I had just transfered to a school in my home town to finish my degree, and blown through my life savings. I needed a job in the worst way. Two weeks after I was back in town a friend of my father visited and mentioned a Primerica job meeting. I was excited, though meeting at 7 pm seemed kind of odd. He gave me a ride to the meeting after about 20 minutes I knew this was a pure scam. Ask yourself, what legit company would feel the need to spend 20 minutes of a meeting explaining why they aren't crooks? After the hour long meeting they showed this big thing on the screen that said Its time for a change. It was creepy, how they were trying to force it on you. Like you could feel the desperation in the air. It was also scary the way they trashed on every other insurance company. They made every insurance company in the world besides primerica look like the antichrist or worst. Just when I thought it couldn't get any less professional, it got worse. They displayed one salesman as a success story, putting together his story it was clear he worked for 3 weeks to make $800. Subtract the $200 fee and you are looking at $600 in 3 weeks before taxes. What a joke. McDonalds pays better than that in most places. Even though I needed a job there was no way I was going for it, on the ride back my father's friend kept on the pressure trying to get me to go again, and said he would try and get me into a couple of meetings without paying the $200 fee. I just clearly let him know there was no way I was going to get into this. He seemed so sad and defeated. I could tell the back of his mind was telling him he blew $200 on nothing but he wanted to believe there was a chance. Stay away from this place. A Anywhere, AlaskaU.S.A.
Entity: Anchorage, Alaska
29, Report #172424
Jul 23 2014
09:18 AM
Primerica - PFS ripoff run, Dave Ramsey doesn't endorse Deluth Georgia*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.
In another thread a writer says Dave Ramsey endorses Primerica and also discusses Primerica Rep Roy Matlock. I think you will find this was true about 5-6 years ago because that is the route my husband and I took to get scammed by Primerica, but Dave Ramsey no longer endorses Matlock or Primerica. I heard they had a falling out - probably because Dave Ramsey figured out that people he was trying to help were getting roped in and losing their butts with Primerica. I have another report here which I filed a long time ago if you want to know the whole sad story, or you can just read the hundreds of other reports and ask yourself why so many people are trying to dissuade others from making a big mistake. The people who post here defending Primerica will all say the same things: 1. The people who post complaints here have their own agenda's for not wanting you to succeed. They don't want you to be happy because they're not happy. 2. The former reps who post here are just angry because they didn't make it. They were just too lazy to go out and do the work. All the current reps who post here will tell you they are on track to make $xxx or on track to become RVP by ___? You don't see any reports from those who are already up there in the company ranks because those people who actually earn a good living (and there are some) have figured out the truth about the business and can't defend it, or they have somehow justified the scam to themselves so they can sleep at night. They either know the truth or can overlook the fact that they and their recruits are responsible for people who go bankrupt trying to make this business work. I personally know one family who lost everything (home,cars) working their tails off because they bought the company line. Some of the other people who were in the organization at the same time we were are probably at or near the same shape and the same is true for my husband and I. Shame is what has kept us quiet. We are not talking about losers here, these people and ourselves were the top people in the state for a while and we all probably could have made it if our personal savings hadn't run out before we started earning a living. It was a cool dream, but looking back I see that if we had made it we would somehow have had to figure out how to live with ourselves. Debra 74059, OklahomaU.S.A.
Entity: Deluth, Georgia
30, Report #191057
May 11 2006
12:50 PM
Primerica ripoff Obvious Dubious Quite Funny Fillmore California*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.
I recently posted my resume' on Monster.com. Much to my delight I received many hits. One of which was from Dominic ******'s secretary. (Notice the word 'secret' in there?! I won't devulge his last name unless requested to do so.) I returned the call and was promptly invited to a meeting in a local city. When I asked who the company was I was told Primerica, an affiliate of CitiGroup. Dominic began to tell me about Primerica's goal to help individuals in all matters financial. I listened attentively for about 5 minutes. At that time I asked him to bottom line it for me: Is this going to cost me money?, I asked. Response: Ummm, ohhh, well, it doesn't cost anything to come to the meeting. I could picture his face getting bright red, for some reason. You see, I have been involved in an MLM before and what I was hearing had all of the earmarks. I again surprised Dominic by laughing at my ability to have caught on pretty quickly!! At any rate, I ended up cancelling the appointment. I received another call yesterday from Dominic himself. No more secretary. You missed our appointment, says he; I cancelled our appointment, says I. I decided I was going to get more information, over the phone, before I made any further plans for a meeting. Suffice to say I was dubious. Let me tell you all, I heard the exact things that so many have already expressed in this forum. To include the McDonalds analogy. Do you know that Dominic has a friend that will drive out of his way to avoid looking at a McDonalds? This friend missed an opportunity and Dominic does not want to see the same thing happen to me!! What a dear, dear man!!! Admittedly, our conversation was amicable, even funny at times, until I told him that I would take his information as food for thought and begin my due diligence. Talk about a change in attitude. My gosh, you'd think I ran over his dog. He abruptly ended the conversation with do what you think you have to. I wanted to share this with anyone that gets approached by Primerica or any other company that requires your money to earn money. As I said, I have been involved in an MLM before and they are all the same. Unless you are truly a person with the constitution of a bull moose, stay away. These things can be very lucrative, provided you are able to put any and all human feeling aside and be willing to compromise all that is good in the world. I am one of the fortunate people that was able to see through the ploy immediately. AMEN Kathryn Fillmore, CaliforniaU.S.A.
Entity: Fillmore, California
31, Report #192323
May 19 2006
11:46 AM
Primerica Fraudulent, Pyramid Scheme, and Insults Ripoff Houston Texas*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.
Dear Readers, I am senior at Texas State University @ San Marcos college student who was looking for some summer work in the city of Houston and stumbled across Primerica as a viable opportunity for work and cash but was rudely awakened this morning. After showing up for two separate interviews/orientations to the Primerica office I began to ponder the legitimacy of the company, its associates, and their business practices so I did some online research. Coming across the previously filed SEC investigation on July, 28 1998 against PFS Investments, Inc. a red flag the size of the empire state building shot up, I did further research among numerous websites to investigate and more came about. After seeing this information I decided to not attend my third interview in a row and stay home looking for another position to receive a phone call from one of their associates Dana who was curious to as why I had no shown up for her interview. I informed her I had done some research online and many red flags came up and I did not trust her organization any more. Upon hearing this she then informed me my research techniques were inept, perhaps it was my type of character that acquires bad research and does not show up to interviews, and to top it all SHE HUNG UP ON ME directly after insulting me. Not only did she initially deny the SEC investigation until I cited a date, she continued to explain how only third party sites are allowed to mention Primerica negatively and that these are the people committing the scams on people not Primerica. I found calling back and talking to the Regional Vice President somewhat calming but felt it would go no where considering how fast you are able to gain this position within the company. Let me not be the first to inform the readers of this report, not only will they not pay you for a very long period of time, they ask you for a $199 application fee, make you shadow a higher person within Primerica, and refer five more people to Primerica(each bringing their own $199 application fee). Each one of the employees working at Primerica had little or no education beyond High School or the Military, in-fact the regional vice president make many claims he was only in college for 3 days. The structure of this company promises quick cash($100/hour starting and $200/hour after promoted to district manager), and makes promises of business ownership and ones work ethic will move them forward within the company extremely fast. This company is a pyramid scheme and readers of this should be very cautious while run the opposite direction quickly. Ben Deer Park, TexasU.S.A.
Entity: Houston, Texas
32, Report #193012
May 23 2006
08:02 PM
Primerica, Marie Stout Bad Financial Advice ripoff Harker Heights Texas*UPDATE: Primerica gets a POSITIVE rating from Rip-off Report in customer support & satisfaction. Primerica pledges to resolve complaints from the past, present and in the future, and give 100% commitment to customer service-say Company Executives!
Marie came to my home to do a Financial Needs Analysis on my husband and I. She needed to see all of my current bills and any negative items on my credit report. I told her I had a plan to pay off all of my negative items in one year and that I just needed a job that I can make one thousand dollars a month. She looked at my plan and then looked at me and said Why not just file bankruptcy and be done with it? Then you won't have to worry about paying it! I have only one year experience in this field and one year of college in Business Management, I am not nearly qualified to be a financial advisor, but, even I know that filing bankruptcy is the absolute last resort to be debt free. What kind of professional Financial Advisor would tell me to do that?! Furthermore, I have experience and college in this field, my friend who has absolutely no experience or education would have been my boss. She would have been asking me how to do things and what everything means. Tell me that is not a pyramid scheme!! Michelle Fort Hood, TexasU.S.A.
Entity: Harker Heights, Texas
33, Report #214316
Oct 05 2006
08:56 AM
Primerica Financial Services PFS New insurance law Ripoff Duluth Georgia*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 propose that a new law be passed to prevent the sale of insurance products, securities and any other products from the insurance company by an agent from that company to his or her immediate family. This is prevent any possible conflicts of interests or improprieties. Stuart E. Windsor, New JerseyU.S.A.
Entity: Duluth, Georgia
34, Report #212272
Sep 22 2006
01:16 PM
Primerica Financial Services Enticement, Entrapment, Lying, Ripoff, Irvine California*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.
Well I just recently got called to come to this meeting that they are famously known for but I had no knowledge of this company before. I have actually experienced something like this before almost identical to the stories I read but for some reason that time I didn't fall for it. Well this time I did. I went to this meeting and I brought a copy of my resume and even a letter of recommendation. I was expected to have a formal interview but instead I found it was a crowded room with about 10 other people. The demonstrators all seemed very coached and seemed as if they had been through the same routine of showing off only specific statistics which all would obviously attempt to glorify the company. And they fed me things such as the license is easy to obtain, the instructor has an 80% success rate, etc. They also said that it would cost 300-600 dollars in other places. I don't know why i fell for it but I did. I didn't realize what mistake i had made until after I had committed the mistake of agreeing to join their team. It's quite funny though because I had already experienced this with another company called *** (((ROR REDACTED FOR SECURITY PURPOSES))) who also uses a pyramid scheme and is ***(((ROR REDACTED FOR SECURITY PURPOSES))) major competitor supposedly. That was a few months ago and I haven't heard of their company at all. They were in Success magazine which is a bunch of bull, and are supposedly endorsed by Donald Trump. But that's another story. The point is I had seen it before but I don't know what made me fall for it this time. If i would have had time to actually do research I never would have said yes. I haven't started training but I have an appointment tomorrow morning and I am seriously trying to figure out how to get myself out of this mess. But from now on I will do my research before I go to meetings. Oh yeah and this all started because I posted my resume. So be careful when you post a reume on there. Pedro Westminster, CaliforniaU.S.A. Click here to read other Rip Off Reports on Primerica font color=red> sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail addressfrom this Report.
Entity: Irvine, California
35, Report #212609
Sep 25 2006
10:02 AM
Primerica Crimerica/primeriscam web of deceipt Ripoff Kamloops British Columbia*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.
Just to tell everyone out there - a scam is a scam is a scam. Period. After you clue into the fact that facts and appearances just don't match in this organization you will feel a great relief when you bow out - that is, after you finish kicking yourself for getting involved in the first place. Don't even bother to kick yourself, though. If you get out, you've got quality, ethics, morals, standards and so many other things going for you and those are many of the things success truly is built on. Elisabeth Kamloops, British ColumbiaCanada
Entity: Kamloops, British Columbia
36, Report #215317
Oct 11 2006
08:13 PM
Primerica Ripoff Tried to recruit my dog Troy Michigan*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.
Primerica wants warm bodies... they tried to RECRUIT MY DOG a few years ago! No Joke... when my husband and I got married, we didn't want to pay extra to an unlisted telephone number, so we put our phone number in our dog's name (she got a few telemarketing phone calls). But the day she got a POSTCARD in the email from Primerica... well, that was amazing. They must have found her name in the phone book (I doubt her Vet gave it to them). I saved the postcard, since it was the first (and last) piece of mail my dog has ever received. Their actual POSTCARD TO MY DOG reads: Dear Diamond, My name is George H. and I represent Primerica. We are expanding in the area and I am interested in speaking with you regarding a part time or full time opporutnity with my company. Please call me at 248-xxx-xxxx. Thank you! George. I asked Diamond if she would like to speak to George H. Instead of answering me, she gave me a blank stare, turned and walked away to lap up some water out of her bowl. It appears that she was neither interested in working part-time or full-time. Imagine that. Christi Roseville, MichiganU.S.A.
Entity: Troy, Michigan
37, Report #213627
Sep 30 2006
11:53 PM
Primerica who would invest with these people? Denver Colorado*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 am a financial services professional, which means I sell life insurance, and offer the full range of financial services, also. Here is what I have found from Primerica clients. If I find a potential client to have Primerica life insurance, I know for a fact, that I can get them a better rate if all they want is term life insurance. I want to thank Primerica, because I have replaced more of Primerica's term insurance than I can begin to count. When I ask them who they knew from Primerica that got it for them, the answer is always a good friend or a relative. The next question is, Does he still work with Primerica?. Their answer is, No, he is still a plumber, carpenter, construction worker, etc. The point I am trying to make is that most of these guys are coming from non-financial backgrounds and trying to get people to invest with them, etc. What happens is that they will get in with Primerica, sell term life insurance to everyone they know, and as soon as their warm market is gone through, they are done, because no referral in the world is going to buy term from a Primerica rep if they do ANY research at all, they are simply the most overpriced term out there. Also, their big thing is that they show people that they need to buy term and invest the difference. I have never found one person who has Primerica's term that is investing the difference. Whenever I ask them why, they say because they just got them the term and didn't follow up on the investing part. The reason is that there is no money in the $50 a month investments. These regional whatevers make all of their money off of getting new people into the business, writing expensive term on all of that persons family and friends, then that individual quits. The last thing I would do is rollover my 401k, IRA, etc., to a guy that still has grease on his hands from his other job. Daniel Denver, ColoradoU.S.A.
Entity: Denver, Colorado
38, Report #201510
Jul 17 2006
01:32 PM
Primerica ripoff unfriencly untruthful Philadelphia Pennsylvania*UPDATE: Primerica gets a POSITIVE rating from Rip-off Report in customer support & satisfaction. Primerica pledges to resolve complaints from the past, present and in the future, and give 100% commitment to customer service-say Company Executives!
when we were approached by Bill M we were not sure if they were telling the truth or were qualified. Now we know bill did not know what he was doing or was skilled in his assesment. I would not recomend primerica. Kevin Philadelphia, PennsylvaniaU.S.A.
Entity: Philadelphia, Pennsylvania
39, Report #203130
Jul 27 2006
03:58 AM
Primerica ripoff Colorado Springs Colorado*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.
Don't fall into the trap of making a 108k in a year. I went to one these be all you can be meetings the speaker seemed like a great guy. I would be able to make 3k a month with my determination. Life is good. UNTIL: The next week my training was to begin. The next meeting that I had the trainer came to my place. Once again there was more promoting of the riches I could make, but no actual training. I would be put on a fast track program. Sounds easy if you want to sell out your family, friends, and business references. Any questions that I asked came back full circle to earnings potential. Take heed to my warning if you are thinking about joining. In your so called training session your are instructed to write down every one that you know. Which later leads to your trainer making money off your family,friends, and contacts. This is their top of line training that leads the nation? Fortunately the day after my meeting I started putting 2 and 2 together and realizing I'd better do something quick to set things right. My ignorance is your gain. Put this knowledge to use in your favor. Protect yourself because primerica won't! Jim colorado springs, ColoradoU.S.A.
Entity: Colorado Springs, Colorado
40, Report #131385
Feb 14 2005
09:53 PM
Primerica ripoff Tulsa Oklahoma*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.
Primerica is a 100% ripoff. They invite you to a meeting with as many people as possible for you to bring. They want a list with a minimum of 30 names your Boss can call to set up interviews. The company is a huge scam. I am certain that the people who work for the company are so low, and have been completley brain washed into thinking it helps people. WAKE UP you idiots! Get a real job and earn an honest decent living. D Jenks, OklahomaU.S.A.
Entity: Tulsa, Oklahoma
41, Report #131391
Feb 14 2005
10:19 PM
Primerica ripoff Tulsa Oklahoma*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.
By the way, If this company wasn't a ripoff or scam why are there more than 350 reports on this website alone. You also might check your local Better Busines Bureau. I did and was amazed at what I saw in the Tulsa and Oklahoma City BBB's. I don't see other companies that I have or might work for on this site, that should be a good clue. If I wanted to work for Wal-Mart I would never have to pay them $199 to get the job. Just a penny for your thoughts! D Jenks, OklahomaU.S.A.
Entity: Tulsa, Oklahoma
42, Report #105340
Aug 25 2004
11:03 AM
Primerica needs to be reported in every city. Rip-off! nationwide*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.
Dear Courtney and other Primerica cheerleaders, First of all Primerica is not, a marketing division of Citigroup. It is actually registered with the NASD, a division of the SEC, as a broker-dealer. (PFS Investments) Citigroup has their own B/D registration not affiliated with PFS at all. Primerica is also licensed with state insurance departments/divisions. Therefore, certain rules must be abided by, including John giving his last name and where he is calling from. Not to mention the countless other things that I have read on this board that are in violation of all securities, insurance, state and jurisdictional laws. Free look period, do not call lists, truth-in-lending, fair practice, fiduciary due diligence, prudent man, etc. I am an OSJ of two registered B/D branches in Southern California. I have 10 securities and insurance licenses and am a CFP. I have a BA in Economics from a prestigious private university here in California. I have been in this business almost a decade and take professional offense to what Primerica is doing. To set the record straight, I don't want their clients. Primerica is not my competition and will never be my competition. I am registered with an independent B/D and have a pay out in excess of 95%. I have very large clients that don't want to go to seedy strip malls to meet with financial professionals. They have needs and desires beyond the scope of Primerica's small list of proprietary products. My peers have been very quiet on this situation because Primerica is not their competition. Trust me, if we wanted Primerica gone, it would be! Like someone else on this board said, Primerica cannot recruit people with finance backgrounds because we know better, just like wealthy investors. Doesn't that say something to you potential agents? On this board I have seen people say that you can make a lot of money helping people out of debt and straighten out their finances. Well, from professional experience, this is an oxymoron! People who have financial problems don't have money to save or buy insurance, they also typically don't have friends/family to sell to if you want to recruit them. This is why most financial advisers have minimums and again Primerica clients are not desirable to me so stop accusing us of being jealous. What are we... in high school? My concern is for the poor, typically less educated, individuals who get sucked into the program and waste their time and money. I am also very concerned about the type of proprietary products that are being sold that may not be suitable for individuals, especially given the lack of experience these professionals have. Reading this site really scares me! I have had several family friends who have been approached, but luckily talked to me first about Primerica's viability. I had one family friend not take my advice and needless to say her stint with Primerica lasted less than a year. Her argument to me was that she wanted to make extra cash on a part-time basis. Well, go sell Avon or Pampered Chef! Do you want your lawyer or doctor working on a part-time basis? I urge anyone who has been a victim of Primerica, or knows someone who has, to notify the NASD, Better Business Bureau, insurance department, and state attorney general's office and file a complaint. I also urge anyone who feels really wronged to print up these reports and distribute them to the people who are coming in for the group interview. (Abide by all laws when doing thisperhaps stand in the public parking lot carrying a sign.) Alternatively, if you are a financial services professional and see a violation of securities or insurance laws, please urge them to contact the NASD or the Department/Division of Insurance for the state of domicile. There are laws to protect you! I agree with the Primerica cheerleaders that this business is hard to get into and make a living, but there are other ways to do it and be much more successful and help people as opposed to sell/recruit to friends and family over priced products to make your mortgage payment! A. S. Claremont, CaliforniaU.S.A. Click here to read other Rip Off Reports on Primerica
Entity: Every City, Nationwide
43, Report #114319
Oct 23 2004
10:04 PM
Primerica ripoff California*UPDATE: Primerica gets a POSITIVE rating from Rip-off Report in customer support & satisfaction. Primerica pledges to resolve complaints from the past, present and in the future, and give 100% commitment to customer service-say Company Executives!
My husband and I met with a Primercia rep. after my husbands cousin and his wife begged us to. When I told her no, she said just meet with him so she could see his presentation and get practice. During the meeting I had several questions regarding rolling over our 401K and how to do so without penalties. The rep. did not give me correct information. He also stumbled through the many other questions I had about all of his other products. I must admit I did find myself interested in looking at the Life insurance and savings account they had. However, when I told the rep. that I was not interested in having him do a financial plan, and I was absolutely not interested in going to one of their meetings, he told me he could not sell me anything. I was floored! I couldn't believe he did this whole presentation, trying to sell me on products.......and then wouldn't let me buy them. And then had the nerve to ask for referrals from me. What a joke. Also, another writer had written about Primerica's mortgage loans. I did see a program that my father in law was offered that was as others have explained on this website. They offered him to refinance at a higher rate, but then the money he took out of the equity would be invested and in the end he would actually be getting a higher rate of return from the investments. But when I looked at this, it actually made more since to keep is low rate, get an equity line at even a lower rate and invest that money if he wanted to. It's true, from what I saw, the program had tricky wording to confuse consumers. Which makes me think there life insurance and other products are sold the same way. I wont even go into all of the time his cousin and wife are spending away from their 3 kids, one just a newborn. It is very sad. I trully hope this does work for them. But I seriously have my doubts! KK Mira Loma, CaliforniaU.S.A.
Entity: ., California
44, Report #131469
Feb 15 2005
02:40 PM
Primerica Ripoff resume harvesting internet management: position San Diego California*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.
First off, thank you for this website. I was contacted by a representative from Primerica (about 2 weeks ago) to come in for an interview (last week). I felt it was a little strange because the call came in at 5:30pm (past working hours) and the interview was scheduled for 6:00pm (again, past working hours). The representative, Effrain, said he was calling from Primerica, part of CitiGroup. He went off and spat out some facts and figures about the size of CitiGroup, their financial resources, etc. He asked me if I was still looking for employment and what I was looking to do. When I told him, he said that they had a position available for a Financial Analyst/Management Trainee. I said that would be fine and the interview was set up. I checked out their website and found it curious that there was not a Careers option listed. When I checked out CitiGroup's website I was able to search for Primerica jobs but, none came up. I was still curious about why I had not pulled anything up, but didn't think too much of it. An interview is an interview after all. A couple of days before the interview I searched for Primerica career and pulled up this site. WOW. I was stunned. All the stories I read happened to me: resume harvesting, management positions, late night phone calls, late night interviews, all of it. Just to double check, I called my uncle, who owns his own insurance company, to ask him about Primerica. He said that he heard of them and he didn't have a high opinion of them or their tactics. He went on to confirm that they were indeed an MLM firm. Armed with printouts of this website and the conversation with my uncle, I went home to cancel the interview (I would at least give Effrain that much). I got ahold of him and let him know that I was very concerned by what I had read and by what my uncle had told me. When asked where I got this information, I told him every website I went to, actually. He said that those cannot be trusted. When I mentioned my uncle again, he told me my uncle was wrong (basically calling him a liar, which is smart when trying to convice someone NOT to cancel an interview). The high pressure techniques by Effrain went on and on, some I told him never to call me again and hung up. Thanks to this website I never did go in for an interview which is really a sales pitch. Dustin San Diego, CaliforniaU.S.A. sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Entity: San Diego, California
45, Report #113188
Oct 15 2004
11:20 PM
Primerica Believe what you read, not the hype ripoff Victoria Texas*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.
After going to Hoovers first for research, then other websites, I saved the best for last. Thanks to all those who helped me not make the same mistake they had. My time was best spent reading all the postings here, rather than sitting through the well rehearsed, and much hyped interview. Today, I responded to an ad in the classifieds as did some people who seemed like they just got off at McDonald's. With a business degree, why would I want to work for anyone who would hire any warm body with $200? I realize that Primerica is legit, but just as much as the paint protectant and window etching I had to sell in the car business. That's why I left cars and wouldn't be caught dead selling overpriced term life insurance or loaded mutual funds. Not to mention, recruiting my family and friends. Primerica may offer real services but they aren't the best or even close. Primerica is like other financial services except with a Mary Kay spin. In my first interview, it was just like all the others above had said it would be. Offices were temporary, promises of $100K incomes, and travel. At what cost? My friends and family, my self respect, ohh and $200. It was also suggested that my wife join me already without knowing anything about her. They don't care who you recruit, as long as there are a bunch of them. When I sold cars I didn't ask customers to come to work with me. Asking for referrals is much different than asking them to sell for you. I wouldn't have sold cars very long if I had to split my commission. Thanks for saving me much time and agony. My wife and family will be grateful. It's too bad others can't see past the hype of the pyramid. I'm glad I was smart enough to end up here last. Now I need to call those people I had to put down as references and wise them up to Primerica so they aren't suckered because of my temporary stupidity. Steven Victoria, TexasU.S.A.
Entity: Victoria, Texas
46, Report #119488
Nov 23 2004
11:55 AM
Primerica Company preys on those seeking employment. Rip-off! Oklahoma*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.
I would liken my experience with Primerica's recruiter to this: The Assistant Shift Manager at your local Kentucky Fried Chicken calls your cell phone during peak hours unsolicited and says Hi, I work for PepsiCo. Have you ever heard of us? We are opening a branch in your area and are looking for trainers/managers. Then you meet the guy and find out he wants 200 bucks then you can be a fry cook until ya work real hard then someday perhaps own your own string of KFC's. of course you won't just be making money slingin' chicken but the rewarding part is...you are selflessly providing that most basic human need, food. what a bunch of crap!!!I am vexed by all the Owner's responses. They seem awfully hateful for such a supposedly upstanding company purportedly whose only goal is a self-less need to help people out of debt. I am also struck by the apparent lack of education evidenced by their grammar, spelling and apparent inability to follow a point. It seems a small wonder they are resorting to pie-in-the sky pyramid scams, while belittling those who are skeptical of a company who operates under very questionable bait and switch policies. I was approched via cell phone by a gentleman named Jay Wright here in Oklahoma City, who claimed my name was passed on to him as someone who may be seeking employment. Jay said he worked for CitiGroup. he asked if I had heard of them? Umm...duh? Of course I had, he then asked what I had heard, did i know they owned SmithBarney and Travelers' Ins. NOT ONCE was primerica mentioned in the call. He did use the Looking for managers/trainers, yadda yadda .. speech and asked if I could meet him today at 1PM I agreed but cancelled after a heads up from a friend and a google search which yielded a ton of negative sites devoted to them. I think it's a shame to bilk people in this economy out of $200 bucks. No company worth its' salt charges people to train them, especially charging them for their training manuals, gimme a break. Beware of Pre-Paid legal as well it is almost an identical rip-off. Charles OklahomaU.S.A.
Entity: OKC, Oklahoma
47, Report #121142
Dec 03 2004
09:28 PM
Primerica Beware Duluth Georgia*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.
I'm a new Primerica recruit and after attending several training classes. I am increasingly disgusted by the advocated recruiting and retention techniques. I didn't fall for Primerica's fast talking recruiting method. I thought it was almost comical, but I remain curious -- and suspicious. My interest in the company was motivated by its flexible work schedule, entrepreneurial opportunity, advocacy of helping people with their finances, and the chance to learn more about insurance, mutual funds, and mortgages. A basic tenet of Primerica is that it is in business to change people's lives. That sounds altruistic and noble and makes a fine slogan. Personally, it was very appealing to find a job with the opportunity to use my advanced degrees in business and background in banking to help people get out of debt and increase their nest eggs. However, increasingly evident with each venture into the Primerica office is that the lives being changed are not so much those of John Q. Public but the recruits Primerica brings aboard. Although never directly identified as such, hunger and greed are the two most desired characteristics in a recruit. You should hear the trainer as he prepares the salivating class for making MONEY! If he's not bragging about his own annual earnings, he's pounding into the slobbering audience descriptions of the top salesman's multimillion dollar homes. It's all within our grasp he pants. Well, after a few weeks, he speaks more truthfully about how 8/10 fail and $100,000 in annual earnings isn't by any means as easy to attain as is presented in the initial, public cattle call of folks. I don't have a bit of trouble working hard to make $100,000 a year --- I would certainly expect to work hard for any income. But initially, Primerica makes such an income look like a given. Recruiters speak rapidly during the initial meeting so the audience cannot quite take it all in; they don't allow time for any questions. And they CERTAINLY don't want to be challenged on any of their statistics. Primerica is a legitimate company. Its pyramidal earnings structure is not a pryamid scheme per se. But here's what really horrifies me about its methods. The emphasis is on recruiting people by impressing them with how much money they MIGHT make. The recruits I have met, on the whole, are very nice, clean cut, intelligent and gung-ho about their Primerica association. What many are NOT, is educated, sophisticated, and polished, because Primerica seems to avoid hiring such people. Remember, Primerica is after the hungry and the greedy. Here's one of Primerica's recruiting techniques. An agent goes to the home of a potential client and lays forth Primerica's financial offerings. He formulates all questions so that if the answer is other than YES, the client looks stupid, amoral, and/or lazy. If the client appears to be more than mere breathing protoplasm, the agent tries to recruit him to become a Primerica agent. Wouldn't you want to have some more money in your pocket so you can enjoy more often the things that you like to do? Wouldn't you like to work for yourself and have lots of flexibility so you can spend more time with your family? YES, YES indeed. GOTCHA Now here's something for you, the reader, to ponder. Primerica purports to get people in middle America out of debt and assist them in wisely investing. So here you are in Mr. Middle America's house, horrified at his $80,000 in credit card debt and lack of any savings. But you are pretty much expected to recruit this doofus to sell investment instruments!! You won't be recruiting him because of his stellar job of asset/wealth management. You'd recruit him because he is hungry and greedy and will fall for the and you, too, can make $350,000 a year. A young, new recruit with Primerica recently visited the home of the office's megabucks earner. Her comment is representative of the lack of education and sophistication of many of these agents who are going to pull middle America out of its financial mess: Dat wa da furs time I ever shook da hand of a millionnaire. I could hardly contain my desire to grab her hand and say, Here is the second time. She is so ignorant that she thinks all millionnaires are ostentatious and crass. She has no idea that she probably rubs shoulders quite often with millionaires -- they just don't have to tell her that they are millionaires in order to have a meaningful day! Millionaires put their britches on every day just like everyone else. Many are the most UNostentatious and understated folks. I have never been in a room with so many salivating, money grubbing hopefuls as I experienced at the meeting following Mr. Megabuck's open house. Just a-ga-ga they were at the most repulsive display of vulgar ostentation imaginable. And here's the picture of another recruit, who has been cited as having a great attitude and being on the way to success. He's a big fat guy who loudly yells YES, YES at every rhetorical question asked. He also cannot say one sentence without at least one grammatical error. My gosh! A division of the largest financial institution in the world wants to send HIM out to meet the public -- middle income as it is. Seems to me, they'd want to send out the folks who most exuded success and refinement. Read this tidbit of conversation overheard at a Primerica meeting. Leader: If you don't understand the investment end of the business, tag along with someone who does. Agent A to Agent B: That's frightening that they have people who don't know what they are doing out in the field. Agent B: But the client doesn't know that they don't understand. Agent A: Well, that's even MORE frightening! Bravo Agent A!! I don't believe that Primerica is out to rip people off. However, I DO believe that its primary focus is on recruiting people so that those up the chain make more money. Initially, trainers mislead recruits into thinking that the focus is on making Middle America more financially secure. In the many training sessions I have attended very little has been said about the products being sold or really how Middle America is going to go from zero to half a million in 10 years flat. Over 90% of the time has been spent lecturing us on: how to coercively (my word, not theirs) recruit people; how the earnings chain works; how fast one can reach certain earnings levels; how the once-poor leader set his sights on buying a BMW and attained his goal; the need to go sell before really understanding everything (his words, not mine)---mess it up and learn from mistakes (isn't THAT comforting). If most recruits think they are going to become rich doing this, they are fools. If anyone becomes rich, then Middle Americans are the fools for allowing these money grubbers to profit off them. Here it is in a nutshell. Primerica is legitimate. BUT, caution must be taken. While recruits must get licenses to sell insurance, mutual funds, and mortgages, they are NOT licensed as CLUs, CFAs, or CFPs. They are not allowed to present themselves as such although the trainer recently referred to us recruits as the clients' financial planners. Oops. Probably a slip of the tongue, BUT Miss Nevah Shook Da Hand of a Millionaire undoubtedly already thinks she is a Certified Financial Planner. She recently told another young recruit (who looked scared out of her wits and didn't respond as if she had the slightest idea what a mutual fund, stock or bond was: You get picked on sometimes, but you'll learn a lot -- I love it. There seems to be a direct correlation between the ignorance level of the recruits and their level of enthusiasm. Ignorance is bliss personified at Primerica. It's so sad to realize that many of these people will fail. Perhaps they have left $25,000 a year jobs thinking they will make $100,000 in a year. They very likely will find themselves struggling with $15,000 a year for a long time because they fell for the POTENTIAL but didn't have the education or educability to learn about what they are supposed to be doing. Anyone who is so ignorant as to think they can come into a financial institution and sell investment vehicles without some sort of financial background and/or formal education is a moron! To not be scared about one's ignorance is a sign of near feeble-mindedness. As the old saying goes, He who knows not that he knows not is a fool. shun him. Primerica espouses good works and it jumped at the opportunity to promote their doing the right thing when, in my initial interview, I commented that I felt a social responsibility to help people get their financial lives in order. But Primerica really is not out to make Middle America wealthy, it's out to make it's recruits/agents wealthy and if Middle America happens to become better off financially, all the better. Primerica really trains one to make money for himself. It hires ignorant, but intelligent people who are lured by the earnings potential, which truly is great for a very few. You perhaps think I'm sour grapesy. Nope, I admire anyone who has made an honest living and greatly respect those who do good works with some of the money they have earned. I've certainly heard a lot about multi-million dollar homes domestically and abroad, fancy cars, marble staircases, yachts, etc. Not once have I heard about any agent's establishing scholarship funds for worthy students, contributions to hospitals, etc. It's all about becoming rich, hedonism, ostentation, and bragging. Hopefully, I just haven't heard yet about the largesse of these agents. Sadly, Primerica undoubtedly runs off those who likely would be their best recruits. I certainly know of some who couldn't get out of there fast enough. The goals the trainers encourage us to have don't do ONE thing to motivate me Two trainers recently spent inordinate amounts of time talking about their goals of buying BMWs. Well, I've long driven BMWs, had seven figures invested in the stock market, and enjoyed multiple vacation homes. Recruits are difficult for me to find because everyone I know is happy with their careers and/or is already wealthy and uninspired by greed. I don't know the Primerica hit list -- the hungry and greedy. But, I do know lots of lawyers, brokers, MBAs, and financial analyists. When I asked in my initial interview why Primerica doesn't go after new graduates of business schools, the answer was, Oh they expect to come out of school and make $100,000 a year. So what's wrong with that? That's EXACTLY what Primerica trainers tell you is possible. The real answer to that question is that they don't want educated people. They teach a few tricks that impress folks -- like the Rule of 72 and bank on Middle America's not knowing whether recruits know what they are talking about. What in the world is wrong with hiring people who have an education? Just think, they wouldn't be as offensive to clients as Miss Nevah Shook Da Hand of a Millionnaire when she goes into someone's house and stands there with her mouth gaping open because they have a grand piano and a crystal chandalier hanging in the hallway. Verdict: Have a go at it. But beware. It's a very interesting study in human nature. Stay upright and honest to yourself and others. Quit if you you find it offense. Be aware that personal dignity, self respect and a mediocre salary can be more gratifying than ostentation, bragging, stretching the truth and $1,000,000 a year. If you want to quit after sniffing it out, leave with your head high. Primerica will call you a loser behind your back; but you're the one being the most honest with yourself and others. Yankee Doodle Princeton, New JerseyU.S.A. Click here to read other Rip Off Reports on Primerica
Entity: Duluth, Georgia
48, Report #120580
Nov 30 2004
11:36 PM
Primerica Be Wary When Dealing With Them. ripoff Quakertown 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.
After perusing this site, I found that the skepticism I had originally for my particular encounter with Primerica was strengthened for a few particular reasons. These reasons only reflect the recruitment and job opportunity aspects of Primerica, as these are the only fields I've had any dealings with. I won't say Primerica, as a whole, is a lying, cheating, unethical company due to the limited experience I have had with them. However, my experience with a particular facet operating under the name of this company is worthy of some critical inquiry. Without further ado, I found the following aspects to be troubling in my own eyes with my particular circumstances dealing with them. (It was around February of 2004, the Hampton Inn around the PA Turnpike Exit near Quakertown): 1). I was first offered the opportunity by some close friends of mine to do this, but after an extensive chat with one friend, I found my relatively intelligent friend unable to answer very important questions about the company. However, since he was my friend, I decided to at least check out the meeting eventually. I, however, was first introduced to it by a woman I met at the grocery store. She said that I was a sharp chap and that I should call her for more information about a potential job after viewing a particular website. Of course, I viewed the website. What I found disturbing then and now, in retrospect, is that the site contained a few strange things about it: A). It required me to enter a password that was provided on a business card, my name, my phone number, and my e-mail address. For the sake of curiosity, I did. Which leads me to my second point: B). The site I found told me that I had an amazing opportunity to be an IBO (independent business owner), but after viewing every single facet of the site, it did not provide a single fact supporting how I would accomplish this. It involved Quixtar. How that involved Primerica, I did not know at the time, and I'm not sure I do now either. Since the password was on a business card and not private, I encourage everyone to visit it and draw their own conclusions. The link is ((REDACTED)) I'm sure they won't mind the extra traffic if their site is worthy. The password is XXXXXX CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. 2). Well, I was called back after viewing their site to come to an orientation. Since (by some strange stroke of fate) my parents knew the people working for the company that called as old friends, I was willing to take the chance that my life wasn't being compromised. So, I decided to go with them to a place for orientation. Along the way, I found it interesting that they've been with the company for a good two years and were successful (according to them) despite the fact that their car was giving them all kinds of problems. I was assured it was going to go to the shop very soon, and the whole explanation sounded forced. That raised a red flag for me, personally. 3). So, after arriving at the place, I sign in, and I'm given an entire packet to read about the company. In the meantime, I read the entire packet and realize that I still don't know how they're going to use me in their company. They assure me I'm sharp-- as if they needed to remind me-- and that everything will be answered by the end of the night. 4). So, after a few testimonials of how great the company is, I decide I've had enough. (It all seemed rather suspicious to me, considering the company's results should speak for themselves. Why do I need these people in front of me?) 5). I didn't have any negative criticisms from outside sources before going into the meeting, and yet, my intuition was screaming at me that something wasn't right. 6). After presenting me with an entire crap load of information, the person in charge at the end of it tried to get me to write down six references. I couldn't think of six off of the top of my head, so I said I'd get him the information later. The person was persistent about me giving those references. I refused, and I'm glad that I did. 7). At the end of the meeting during the car ride home, I asked some more pertinent questions that I felt were addressed inadequately (or not addressed at all) during the meeting, being the sharp chap that I am. A few questions were danced around deftly, such as: A). What exactly is my role in this company? B). How much can I be expected to make, given the amount of money the lowest ranked employee brings in? (Since I'm, surely, more motivated than that person.) C). Is it necessary that I recruit people to do well? D). Why do I need to put money up front to buy what you're offering? 8). The final thing that made me very suspicious was the fact that they wanted me to listen to tapes and read more material. After listening to their mind-numbing tape, I realized it was the same stuff repeated over and over again in a different way. The strange thing was that they wanted all of their materials back if I wasn't going to join them. They were quite adamant about setting up a follow-up appointment. After telling them that I wanted to review the materials and not necessarily make any further appointments, they all but demanded their materials back. What could be so expensive about a burned CD and a few pamphlets that they would demand their resources back from a potential employee? So, that was my first experience with Primerica. Then, at the request of a friend who had done a favor for me earlier that week, I attended yet another meeting with the same results. Again, I found myself asking the same questions and yet again, the results were the same. I found it interesting that when I asked about where they would get the interest rates they spoke of, their reply was a basic, don't worry about it. Well, of course I'm going to worry about it. Don't tell me I'm sharp and then decide that I'm too stupid for certain facets of The Plan you mentioned over and over again without explaining what it is. To sum things up, don't argue with me that I'm presenting a biased perspective because I already know that. Rather, take this as what it is-- a testimonial that says to be careful when dealing with anybody that uses these tactics. If they have a Primerica shirt on, I'm just a little more cautious because of my dealings with them. Maybe I had a bad experience with particularly corrupt employees of Primerica or perhaps people posing as Primerica employees, but I felt it important to note that these people exist and probably will not go away if they make money from it. The first ideal in solving a problem is to recognize that one exists, and thus, if anything, all should be able to agree that there are particularly corrupt people under the guise of Primerica who are out to take your time and money. As a further note, I had my own friends and my parent's former friends telling me that I should try this, and without an ounce of skepticism from the very first interaction with the lady in the supermarket line, it developed into skepticism that has only been confirmed, for me, through this site and other sources. To go against peer pressure completely without any particular reason required a strong intuitive reaction, which I had. Later, a logical reaction developed. I hold such responses in the highest esteem, and I hope this helps others do so as well. Thank you for your time. And as a little side note, I found it amusing that the lady who first got me interested in Primerica who has lots of experience in the business has to use a Foodstamps' card to purchase her groceries. You can tell an awful lot about people by what people buy at the grocery store, and I can say that I see her quite often (since I work often), and I've never seen her use anything else to pay for her groceries other than the one time she used her debit card when she offered me her business card. Isn't that a funny coincidence? Submitted Anonymously Near Quakertown, PennsylvaniaU.S.A. Click here to read other Rip Off Reports on Primerica
Entity: Near Quakertown, Pennsylvania
49, Report #119649
Nov 24 2004
08:25 AM
Primerica Ripoff Scam operation alive and well in North York Ontario Canada*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.
AVOID THIS SCAM, and save yourself a lot of trouble: I was a little suspicious answering a classified ad in a local Toronto newspaper that doesn't even list the company name. But as a single mother of a beautiful young boy, I really need work after being laid off so I called anyhow. It seems the person at the company (do they even use their real names?) was really pressuring me to come in for an interview as soon as possible, even though I clearly explained that babysitting would have to be arranged since it was an evening interview and presentation. Why would a presentation even occur? I wondered what kind of a financial company gives a presentation to a large group instead of strictly one-on-one interviews. Red flags were starting to go up. I had never in my life before heard of a large and apparently successful financial institution of any kind giving infomercial-style presentations to large groups of prospective employees before. Clearly, the ability to lie in a convincing manner allowed these dishonest scumbags to get where they are today! Lots of eye contact, a bit of cheesy small talk, phony compliments about my resume, questions about my son, and other such techniques are all part of the scam. The office seems about as authentic as a $3.00 bill. Phony awards with phony names hang on the wall. The place is new and has no character whatsoever. Everything is phony and fake and just wreaks of a scam. But the most amazing thing is the so-called presentation!!!!! A$$HOLE #1, B*#@H #2, A&&HOLE #3 ================================ The presentation didn't really tell you anything. The first speaker introduced the second speaker, the only woman involved with the scam, and she very briefly touched on the $199 + tax license you need to purchase from the company in order to practice whatever it is you might be supposedly doing. Everything was so confusing and repetitive and rambling. Clearly these people have little education... just greed, raw ambition, and the ethics of drug dealers, pimps, and other such greedy scum that exists in every big city in the world. But what really takes the take is the last speaker: a pompous little chubby prick of a bastard who gives some incredibly stupid lecture about: (1) how so many people are employees rather than business owners (2) how he overcame meningitis, sponsors children, attends church, why faith is first in his system of values, his many odd jobs, his plans to start a franchise in Italy in 2008, and so on (3) the incredible earning potential, blah blah blah Incredibly enough, this chubby little prick claimed not to have a rehearsed talk, that it was different every night and that he speaks from the heart and not a script... However, I can assure to all you folks that it is a thoroughly studied, practiced, rehearsed scam of the highest level. Avoid Primerica and anything related to it like the plague. Inform everybody you know about their disreputable practices. May these people never sleep at night, especially after trying to get $212 (that is $199 + tax) from a single mother who is having a tough time making ends meet. Also: the so-called North York office on Wilson Avenue is run by kids. Who in their right mind would believe that anybody but a Hollywood star or a super whiz kid 24 yrs. of age could make the $100,000/yr. salary he claimed to make. SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM FRAUD FRAUD FRAUD FRAUD Sanders Toronto, OntarioCanada
Entity: North York, Ontario
50, Report #118704
Nov 18 2004
03:05 PM
Primerica Ripoff I WAISTED TWO YEARS OF MY LIFE IN THIS SCAM Newark Delaware*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.
It started in February of 2002. I was in my office with co-workers when a friend of mine started asking me how well I knew my personal finances and that he had a Financial Advisor who he thought I should speak to. I wasn't sure, but he invited me out to a 'Financial Seminar' one Thursday evening. He never mentioned Primerica or that it was an opportunity meeting and not a financial seminar. He never told me he had gotten token promotions from the RVP and had never done any business. He simply was in the business to recruit others to override their production. I went to the meeting thinking I would learn somthing about personal finances. I was greeted by a smooth talking RVP, 'Rob'. He seated me at the front of this small office on the ground floor of the building. I listened to the presentation and admittedly I was intrigued by the info. Things like the Rule of 72 and how to save money etc. Then they started talking about an opportunity to work for them. I was caught of guard and thought imediatley that was the reason I was invited. I always told myself I would never get involved in a MLM-Pyramid thing, but I was looking for extra income and the thought of this busines seemed legit because they mentioned they were the largest company in the world with Citigroup and middle class were drowning etc. I'm middle class so what they were saying hit home. I wish I knew then what I know now. You see they prey on the middle class because the wealthy won't touch them. That's how they suck you in by relating to your story. Well, with hesitation I took the bait. After the meeting the RVP invited me into his office. There weren't alot of people there, but out of everyone he chose me to talk to. Boy did I feel lucky. Haha. The RVP immediately began going into having me join under the guy that invited me. He said I could own my business (wrong) and they I could make lots of money. What a joke. I told him he would have to come over the house to meet my wife and we could discuss it then. Here's the irony. Remember above when I said that the guy who invited me never informed me of the reason I was really going? Well guess what I did the same thing to my wife. I told her the RVP was coming over to talk to us about finances and I never mentioned to her that I was interested in joining the business. She was caught way off guard as I was and she was upset at me. The point is that once exposed to Primerica, you immediaately begin to falsify things and come up with ways to get around telling the whole truth. I'm a good hearted person who loves his family and would do anything for them, but Primerica trapped me into becoming something I was not. Some may say you'r free to make your own decisions, yes true, but when you have an RVP and his cronies feeding you lines to use on everyone you can't help but fall into their trap. Anyway I joined for 199 and started off quickly. Lots of encouragement etc. I saw some family members, sold some insurance, recruited some people. The whole bit. The problem is when you join Primerica you are green to the industry and don't know any better or what's wrong or right. That's why they frown upon recruiting licensed agents or experienced agents in fear they may expose the RVP as a fraud who doesn't really know a thing about investing or insurance. They would say they would rather not recruit an agent because they would have untrain them and retrain them as to Primerica's way. Which is by the way the wrong way. On my first couple of appts. the RVP came with me (not the guy who recruited me). He would sell the products, investments and insurance and told me he would pay me after he did the business with my family. It's been over two years and guess how much of the money I've seen. Yup, zilch. Things were going good so I thought. I finally got securities licensed and made decent money on selling people overpriced Variable Annuities, which I'm ashamed to admit because now I know. I also sold the insurance, which I do think term is the way to go if you are investing. Here's the problem. Primerica preaches buy term and invest the difference in a Mutual Fund. Only a small percentage of the Primerica Sales force ever gets licensed to do securities. There are thousands of Reps out there preaching Buy Term invest the difference to their clients. They replace the clients cash value policies with lower cost term and tell them to invest. Then the client never invests any monay because once the insurance sale goes through the rep forgets about the client, plus the rep can't even invest because they aren't licensed. The client think they did the right thing but in 25-30 years when their policy expires they'll have little or no $ invested. Plus these reps talk about Mutual Funds and Investments even though they are ot licensed. That's a violation of SEC rules. The clients don't know that however so they get away with it. So I made some money and never saw my family, until around the new year 2004. That's when I really saw the light. I was doing alot of refinances through Primerica and started to question the interest rates and the concept of simple interest charges on the loan. See the loan trainers would train us on selling the loans ans the simple interest question always arose. The trainer would say yes our loans charge simple interest which would reduce the clients overall interest paid. Then in the next breath the trainer would say not for us to mention that to the clients. What's that about? I would think that if we had a way to sell something that benifited the client and that was better for the client that we could use. I'll tell you why we can't. Because the interest savings is so insignificant that it's not a benefit. But I only learned that the beginning of this year when I started to do some research on the refi products. They are terrible and the reps are so uneducated as to the product itself. All we were told is to get the client to sign an application for a refi every time we went out. Even if we thought they didn't need one. We would then come up with a way to sell it by showing net difference savings etc. etc. etc. Meanwhile the client that we sold the refi's to could've went elsewhere and gotten a better deal. I wish I knew earlier, unfortunately I didn't. So you can see the training is terrible when it comes to product knowledge. There are so many problems with the Products, the recruiting techniques and everything else that I'm making it may mission to make sure no one goes an where near Primerica. We used to listen to tapes in the car and attend meetings and seminars and such. One SNSD (top of the chain) used to say to us that we must follow up with our family, friends and prospects until they buy, join or die. Isn't that crazy, sounds like harassment to me. Another SNSD and even my RVP would say that they wouldn't work with or train someone who didn't buy our products, especially the life insurance. In fact I witnessed on several occcasions my RVP with a new recruit in our office doing their FNA (Financial Needs Analysis). What a joke. They throw a bunch of complicated numbers together and the client thinks they're getting something special. After they went through and typed the FNA on the computer the RVP didn't even really explain the FNA to the new recruit. He went right for the life sale like a shark goinf after an injured seal. I used to think to myself, that poor guy doesn't know what's coming.' I finally left for a lack of a market, because all my friends and family were tapped as either clients or they didn't want to hear about it anymore and the ultimate reason was that Primerica products just weren't ethical and I couldn't continue to sell them after I found out what I had. Primerica is a place where lies and deceit are ramped, not only between with the rep to the client, but also between the RVP and his reps. The tension in the office was terrible. You couldn't trust anyone. That's the truth whether they admit it or not. You had no reason to help your coworkers because you were trying to beat them to RVP and knock them out of the game because they would take your market. It was terrible. I say to all thinking about doing business with Primerica, DON'T DO IT. Don't end up like me with shame and regrets. Although now I feel a whole lot better for leaving. Ron Wilmington, DelawareU.S.A. Click here to read other Rip Off Reports on Primerica
Entity: Newark, Delaware

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