Primerica Financial Services WARNING! 'Manager' positions scam! ripoff business from hell Coquitlam British Columbia

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*UPDATE: Primerica recognized by Rip-off Report a business opportunity well worth considering - it's not for everyone but many representatives make solid commission incomes. Primerica takes appropriate action against representatives conducting themselves improperly, pledges 100% commitment to customer service.

EVERY possible aspect of the primerica scam is already explained here on this site. The complaints explain how the recruiters try to suck you in. They explain what happens at the meetings.

People who have tried the nonsense explain exactly what primerica is selling and how you have to trick people into buying it. The insurance, the home loans. The recruiting scam. The no-money commissions. Every part of the whole scam is laid out for you, in detail.

Every bit of the fraud that citi and primerica uses is ALL explained in these complaints. There are hundreds of them. They will take you days, if not weeks to finish reading them all. Use the search box at the top to get started.

So, for your own sake, please take the time to read as much of it as you can before you get drawn into this nonsense scam like 100,000 victims do every year.

Trust me, there is no pot of gold waiting for anyone at primerica!

The whole scam is nothing but a complete waste of your time and money.

To Glen of Ontario:

It's the same old stuff. Argument by anecdotal almost never works, because for everything positive you say about PFS I can list 10 negatives on this site alone. However, as a typical PFS apologist you ignore all the complaints on the website and write them off as people who don't understand. Well there are a lot of us that do understand.

-You don't own your clients or your recruits as you build your business they belong to PFS, you are but a lone independent contractor. Recruiters often lie to prospects to get them in the door. Just see the multitude of complaints on this site. This problem is company wide which means PFS corporate looks the other way. Canned scripts are clearly deceptive yet they are approved by the PFS corporate. These are not just a few bad apples, it is deliberate and systematic. Surely you can see this.

-The statement about 110,000 agents is disingenuous since you don't state how many have quit over the years, which is probably in the millions.

-If cash value life insurance is such a rip-off then why has PFS partnered with the one of the biggest sellers of cash value life insurance of all time and that is Met Life? Why has no one from PFS had the guts to address this?

-Citigroup is a bank (the epitome of one), and the last time I looked they were pushing credit cards, how come you don't have the same indignation for them? What? Is there debt good debt and others bad debt? Give me a break. Also I get solicitations from Citi-Financial all the time in the mail for their high rate mortgage loans or quick cash loans of $3,000.

-The mutual funds you offer are loaded right? What if we put your anecdotal clients into a no-load, and invested that money, how much more will they have? People can get no-loads from high rate companies right off the internet. So it's no big deal.

-On my mortgage there is a box that says extra paid toward the principle, If I want to pay my mortage off earlier, I can make an extra two payments a year by paying a little extra over the months. This is provided by my present mortgage company as with probably all mortgage companies, I a person wants to accelerate thier mortgage. What's magical about PFS's approach? Oh, I know I won't have to accept the high interest rate and pre-payment penalities. Gotcha.

-The insurance is overpriced and again people can do better on-line and have more to invest in no-load mutual funds.

Sorry, but your arguments don't carry much weight, I challenge you to do better.

Regards

To Glen of Ontario:

It's the same old stuff. Argument by anecdotal almost never works, because for everything positive you say about PFS I can list 10 negatives on this site alone. However, as a typical PFS apologist you ignore all the complaints on the website and write them off as people who don't understand. Well there are a lot of us that do understand.

-You don't own your clients or your recruits as you build your business they belong to PFS, you are but a lone independent contractor. Recruiters often lie to prospects to get them in the door. Just see the multitude of complaints on this site. This problem is company wide which means PFS corporate looks the other way. Canned scripts are clearly deceptive yet they are approved by the PFS corporate. These are not just a few bad apples, it is deliberate and systematic. Surely you can see this.

-The statement about 110,000 agents is disingenuous since you don't state how many have quit over the years, which is probably in the millions.

-If cash value life insurance is such a rip-off then why has PFS partnered with the one of the biggest sellers of cash value life insurance of all time and that is Met Life? Why has no one from PFS had the guts to address this?

-Citigroup is a bank (the epitome of one), and the last time I looked they were pushing credit cards, how come you don't have the same indignation for them? What? Is there debt good debt and others bad debt? Give me a break. Also I get solicitations from Citi-Financial all the time in the mail for their high rate mortgage loans or quick cash loans of $3,000.

-The mutual funds you offer are loaded right? What if we put your anecdotal clients into a no-load, and invested that money, how much more will they have? People can get no-loads from high rate companies right off the internet. So it's no big deal.

-On my mortgage there is a box that says extra paid toward the principle, If I want to pay my mortage off earlier, I can make an extra two payments a year by paying a little extra over the months. This is provided by my present mortgage company as with probably all mortgage companies, I a person wants to accelerate thier mortgage. What's magical about PFS's approach? Oh, I know I won't have to accept the high interest rate and pre-payment penalities. Gotcha.

-The insurance is overpriced and again people can do better on-line and have more to invest in no-load mutual funds.

Sorry, but your arguments don't carry much weight, I challenge you to do better.

Regards

To Glen of Ontario:

It's the same old stuff. Argument by anecdotal almost never works, because for everything positive you say about PFS I can list 10 negatives on this site alone. However, as a typical PFS apologist you ignore all the complaints on the website and write them off as people who don't understand. Well there are a lot of us that do understand.

-You don't own your clients or your recruits as you build your business they belong to PFS, you are but a lone independent contractor. Recruiters often lie to prospects to get them in the door. Just see the multitude of complaints on this site. This problem is company wide which means PFS corporate looks the other way. Canned scripts are clearly deceptive yet they are approved by the PFS corporate. These are not just a few bad apples, it is deliberate and systematic. Surely you can see this.

-The statement about 110,000 agents is disingenuous since you don't state how many have quit over the years, which is probably in the millions.

-If cash value life insurance is such a rip-off then why has PFS partnered with the one of the biggest sellers of cash value life insurance of all time and that is Met Life? Why has no one from PFS had the guts to address this?

-Citigroup is a bank (the epitome of one), and the last time I looked they were pushing credit cards, how come you don't have the same indignation for them? What? Is there debt good debt and others bad debt? Give me a break. Also I get solicitations from Citi-Financial all the time in the mail for their high rate mortgage loans or quick cash loans of $3,000.

-The mutual funds you offer are loaded right? What if we put your anecdotal clients into a no-load, and invested that money, how much more will they have? People can get no-loads from high rate companies right off the internet. So it's no big deal.

-On my mortgage there is a box that says extra paid toward the principle, If I want to pay my mortage off earlier, I can make an extra two payments a year by paying a little extra over the months. This is provided by my present mortgage company as with probably all mortgage companies, I a person wants to accelerate thier mortgage. What's magical about PFS's approach? Oh, I know I won't have to accept the high interest rate and pre-payment penalities. Gotcha.

-The insurance is overpriced and again people can do better on-line and have more to invest in no-load mutual funds.

Sorry, but your arguments don't carry much weight, I challenge you to do better.

Regards

To Glen of Ontario:

It's the same old stuff. Argument by anecdotal almost never works, because for everything positive you say about PFS I can list 10 negatives on this site alone. However, as a typical PFS apologist you ignore all the complaints on the website and write them off as people who don't understand. Well there are a lot of us that do understand.

-You don't own your clients or your recruits as you build your business they belong to PFS, you are but a lone independent contractor. Recruiters often lie to prospects to get them in the door. Just see the multitude of complaints on this site. This problem is company wide which means PFS corporate looks the other way. Canned scripts are clearly deceptive yet they are approved by the PFS corporate. These are not just a few bad apples, it is deliberate and systematic. Surely you can see this.

-The statement about 110,000 agents is disingenuous since you don't state how many have quit over the years, which is probably in the millions.

-If cash value life insurance is such a rip-off then why has PFS partnered with the one of the biggest sellers of cash value life insurance of all time and that is Met Life? Why has no one from PFS had the guts to address this?

-Citigroup is a bank (the epitome of one), and the last time I looked they were pushing credit cards, how come you don't have the same indignation for them? What? Is there debt good debt and others bad debt? Give me a break. Also I get solicitations from Citi-Financial all the time in the mail for their high rate mortgage loans or quick cash loans of $3,000.

-The mutual funds you offer are loaded right? What if we put your anecdotal clients into a no-load, and invested that money, how much more will they have? People can get no-loads from high rate companies right off the internet. So it's no big deal.

-On my mortgage there is a box that says extra paid toward the principle, If I want to pay my mortage off earlier, I can make an extra two payments a year by paying a little extra over the months. This is provided by my present mortgage company as with probably all mortgage companies, I a person wants to accelerate thier mortgage. What's magical about PFS's approach? Oh, I know I won't have to accept the high interest rate and pre-payment penalities. Gotcha.

-The insurance is overpriced and again people can do better on-line and have more to invest in no-load mutual funds.

Sorry, but your arguments don't carry much weight, I challenge you to do better.

Regards

Just another shiller for Crimerica. What does attacking other institutions have to do with helping the victims of Crimerica? Now I quote:

"If you're going to do some research, try to go to places other than the internet." Does that mean we shouldn't even research Crimerica's own metamorphosis website? Keep in mind too that the government regularly uses the internet and, if you like, I'll list some warning about MLMs including
Crimerica of course.

"These are all facts. Numbers, and logic." It's not a fact to me when a Crimerican (that's a Primerican who does shilling for the company) doesn't give the requisite documentation to back up what you're running your mouth off of. Submit the papers to Ripoff Report proving what you say, otherwise I'll be looking for your float at the Macy's Day Parade because then you'll be full of hot air.

Members of PFS get paid the same commissions as every other financial services companies (for example, Clarica, London Life, Investors Group)

Our debt consolidation loans are amortized over 30 years because they are designed to attempt to lower your payment so that you can put whatever you save towards the principle, thus paying the loan off faster and saving money long term.

As for the "secret language" Step into any business environment that you are not familiar with and you'll hear words and abbreviations that you do not understand. For example, go to a truck stop (have you ever heard that country song "Convoy"??, or go into a brokerage firm...or even a McDonald's.

Our funds are managed by AGF, and have 4 and 5 star ratings by reputable sites like globefund.com or morningstar.com.

PFS markets the idea of becoming financially independent, which is not something that anybody else is talking about, and that's different. And since we're different, some people don't like us. The Banks' and Insurance companies don't like us because we show people the things that they don't tell them.

Here are a couple of examples:

If you put your money in GIC's (that they push every year) and get 3%, you wont even keep pace with inflation. GIC's wont get you to retirement!

Cash Value Insurance is a rip-off. These policies contain both a portion of paid-for insurance and a portion that goes to savings. Sounds good, right? Well, the savings portion is going to earn typically 1-3%. If you want any of that money, you either have to cancel the policy, or borrow it. If you choose to borrow your own savings, the insurance company will charge you typically 6-8% interest (you're not paying that interest back towards your savings, the insurance company is keeping it). And if you die, who do you think should get the money you had saved? Your family? No, the insurance company keeps all the cash that you had saved up in the policy (unless it's a Universal Life Policy, then it gets more complicated).

Mortgage Insurance. Read any book on finance. Ask anybody except the people at the bank. There are numerous articles written in reputable publications, and they all say, "Don't get mortgage insurance!" Let's see why:
- decreasing coverage, level premium
- underwriting done after death (no guaranteed payout)
- policy is owned by the bank and not you, and can be cancelled at any time without reason.
- many more reasons, too little time.
Every expert recommends getting term life to cover the mortgage. This is what we recommend, and the banks don't like us because of it.

Credit Card Insurance is a rip off!

Some people get upset if they get into Primerica for the money and they don't see it. The people who get into Primerica to share valuable financial concepts and save people money, and help them out, usually stay. It's the "money-hungry" people that have a bad experience, because it's not a get rich quick scheme (and if anyone told you that, I apologize on behalf of the company).

Yes. Primerica's business model is a network marketing business model. But it is set up that way because that is the best distribution model in existence. People scoff at network marketing set ups and MLM's because of the other companies associated with the business model (Companies peddling high priced products that could be bought for a portion at CostCo). But the reality is that it is a highly effective system, that should be respected or even revered. Case in point: Recently, a talk show host asked Donald Trump, "If you could do it all over again, would you do everything the same?" He said, "No. I'd start a network marketing business." ...and everybody in the audience laughed; Trump looked at them and said, "That's why you're up there, and I'm down here."

On the subject of what Primerica does:
Millions of people are getting screwed by the institutions they deal with everyday because of knowledge that simply isn't shared with them. If your friends and family were getting screwed, wouldn't you want to help them out??

If you're going to do some research, try to go to places other than the internet. Maybe some more regulated sources. Where if someone actually "publishes" an opinion they can be held libel, like for example, Books. Go to chapters and pick up a couple of books on finance, or business.

How bout I give you a couple of examples of books:

Title: What All Stock and Mutual Fund Investors Should Know
Author: Bruce N. Sankin

Quote from page 39:

"The best way to save money is to know exactly what you need to achieve financial freedom. The way to do this is have a professional financial analysis. A financial analysis is an examination or review of all your assets and liabilities. This includes all your incomes, investments, homes, mortgages, insurance, credit cards, loans, etc. A good financial analysis will give you a "Game Plan" on how to attain your financial goal. Many companies offer a financial analysis. A financial analysis will cost between a few hundred dollars to as high as a few thousand dollars.

One company, Primerica Financial Services, which is a division of Citigroup, offers the best value for a professional financial analysis. Primerica, which creates a custom design financial report, does not charge a monetary fee for this service."

Here's another:

Title: The ABC's of Making Money (an international best seller)
Author: Dr. Denis Cauvier and Alan Lysaght

Quote from page 200:

"After reviewing and analyzing thousands of business opportunities around the world, one company that we found that meets all 15 of our criteria is Primerica Financial Services. Primerica is a subsidiary of Citigroup, one of hte 30 Dow Jones Industrial Average Stocks with more than one trillion dollars in assets. Citigroup is ranked number one on Forbes' World Super 50.

Primerica currently has 110,000 representatives in North America and is expanding internationally. From the beginning, the company philosophy has been to educate their clients to buy cheaper term life insurance - as recommended earlier in this book - and to invest the money saved. Their mission - again, much like ours - is "To help families become debt free and financially independent." We first noticed Primerica because their mission and core business values closely mirror ours in terms of "economizing, and then investing the savings." They also score points when it comes to setting up an ideal business.


Everybody is entitled to their own opinion, but I like to make decisions based on facts. And the fact is:

My friend was on track to have his mortgage paid off in 15 years, paying $1000/month.
PFS took over his mortgage and now he will be out in 11 years, paying the same $1000/month. Yes, the new interest rate is higher, but because of the 30 year amortization period, more money out of that $1000 is going toward the principle and hes going to be out 4 years sooner, with the same payment. And 4 years is 48 months, at $1000 per month: Hes saving $48,000. Thats a fact.

My aunt had $15,000 of cash in a $45,000 insurance policy; she was spending $69/mth.
If she passed away, her kid wouldve got the 45k, but the insurance company was going to keep the cash she had saved, all 15,000.
PFS was able to give her $100,000 in a 25 year term for $42/month. And she was able to get the $15,000 cash value. She is 40 years old and now if she passes away, her kid gets $100,000PLUS the $15,000. And since shes investing the $15K, and the $25/month she saved, by age 65 (when the policy runs out), even at modest returns of 7%, shell have over $100,000.and wont need the insurance.

My friends mom had $50,000 dollars in GICs!! Why? Because the bank told her thats what she should put her money in. She was getting an average rate of 4.3% on her money.
One year ago, last month, PFS took over management of her money. The fund she was put in made a 22% return over the last 12 months. What does that mean? This: If she had her money where the bank told her to have it, she wouldve made about $2,200. Instead she made $11,570!

These are all facts. Numbers, and logic. Not opinion. Base your decisions on what ever you want. But opinions do not change facts. Primerica promises you nothing but the opportunity to do something with your life. You can help people, and make money while youre at it. There is a lot of turnover in the company. But the numbers are no different than the turnover in the industry. Or in anything you do, for that matter. Out of 100 people who join 24-Hour Fitness, 83 will quit, 25 will get in a little bit better shape, and 2 will be phenomenal. Its the same way in this business. Just because most of this countrys population is overweight, it doesnt mean that working out doesnt work; it just means that most people dont work out.

I love what I do. I would honestly do it even if I didnt get paid. Not everybody can do what we do. Some people cant pass the provincial license (thats right, you have to have a license). And some people cant handle the word no. Some people just want to get rich without working. Primericas not for them. If you are one of these people, its not for you. But dont bash it, because you dont understand it. I dont understand the theory of relativity, but I dont go around calling it bullsh*t.

This is for Lalania in BC. In 1997 as I was looking for work, I got an e-mail from a Mark Lewis (who, at the time, lived in Port Coquitlam), asking me to meet him for an interview on... a Saturday at 8 AM.

I thought it was rather odd that I would get a contact for an interview on a non-workday, but I assumed the company was a 6-day-a-week setup, or something like that. As I vaguely recall, I didn't get any detailed information - just a request for me to come in.

I drove to that same office you went to - at the time there wasn't the cool-looking Primerica thing on it, so I had no idea if the business was even legit. That should have been my first clue, but I didn't clue in until a bit later.

So I show up, and this Mark Lewis guy isn't there, but I get shown into a room with a bunch of other people. I thought it was somewhat weird, as I'd never heard of an interview session being done this way before. As it turned out, one Brad Girard did the (fl)opportunity spiel - right place, right time, projected salaries, blah blah blah.

After this shindig I bumped into Mark Lewis, who, as I recall, either sat me down there and had a chat with me, or asked me to go across to the A&W and have a coffee there. Either way, he explained that there was a sales component and an office-slash-management component. Now I'm not a salesperson. I don't know how to schmooze unless there's some kind of common ground between myself and the guy I'm talking to. So I said, well lookit. I'd rather work in an office.

Of course, this is where he segued into the whole "be your own boss" thing. I've tried to forget about this little episode in my life because I actually went along with it for about a month, and ended up exposing a co-worker to this sleazebag. I get kind of embarassed now when I think about it.

What got me suspicious was that even from the get-go, the atmosphere seemed more cult-like than informative. This feeling was reinforced when the next time Mark wanted to meet me, it was to be after another one of these intro meetings, but before it started, Brad started asking veteran reps about.. I'm not sure what, but they started talking in almost a code language. Now, I know more than the average person does about cults because I read almost every book I could get my hands on, and one of the key alarm bells was that every cult I'd ever read about always developed an internal code language with words and phrases that had specific meanings not discernible by outsiders.

The feeling that this was a cult was only reinforced when right after the right-place-right-time spiel, those who were potential prospects along with whoever was trying to recruit them stayed behind to watch this live feed off satellite from Duluth, Georgia with that Randy Weaver guy and that Tyrone dude. Big fella. Ranted and raved about how he was gonna have x number of base shops, y number of RVPs, et cetera. And then they went into bombastic testimonials from people in the audience, and I found it very hard to not just get up and leave.

So anyway, Mark started going after me for the 50 bucks (Yes, it was $50 back then and not $199) from the get-go. Now I was broke as anything, and I didn't feel like asking my parents for 50 dollars so I could sit the securities exams.

So I told Mark I was gonna have to scare up the money, but it would take time.

Now what really got me were these four things:

1. Mark was putting a helluva lot of pressure on me to do the cold-calling and warm-list stuff that PFS likes you to do. I didn't like disguising the nature of the business, which is what PFS recommends you do in their literature that you get when your recruiter wants to get you plugged in.

2. The cult-like atmosphere at the meetings left a rather bad impression on me. I didn't want to be a zombie, chasing some will-o-the-wisp.

3. Now I don't know if this is true for all PFS offices, but I think the Coquitlam office is really bad for this - Mark, although not in these exact words, admitted that one of the motivations for being with PFS was that it allowed for wanton abuse of the tax system. The reason I think it's endemic in that office is because Mark bragged that Brad Girard got back a check for TWENTY THOUSAND DOLLARS from the government when he filed his taxes.

Now the only way Mark would have ever talked so openly about the deductions you could take advantage of is if his immediate upline, Brad, was open about his abuses of the corporate income tax structure (since in Canada, to work with PFS you have to set yourself up as a self-employed individual).

4. If PFS was so guaranteed to be successful, and Mark had been at this for three years now, why the hell was he living in a clapped-out cramped apartment in a building that had been around since the 1960s? His standard of living didn't jibe with the glowing predictions of Brad and the rest of the PFS gang.

Anyway, to end the story, Mark dropped me like a cold fish (or hot potato) the first time I missed one of the meetings at his apartment. I e-mailed and said sorry, I had forgotten there was to be one and blah blah blah. No reply.

:There are so many people who have a lot to say about Primerica who have not even set foot inside the company and who do not know what it's all
about.

How do you know they haven't evaluated the 'opportunity' and seen through the mindless MLM drivel you spew at each meeting? You burn through about 100,000 recruits each year. There are more people who know how PFS 'works' than your little elite club of currently active members.

:I have a question for these people. Simply put would you rather sit at a desk 5 days a week and sell people things that they don't need?

Is that the alternative to driving all over creation, recruiting at malls and gas stations to sell an MLM opportunity? And then trying to find enough people to sucker in with your deceptive presentations to buy expensive products? Then yes.

:Would you rather work in a telemarketing job where you call people all day and get the phone hung up on you?

At least the telemarketing company pays for the phone line. So yes.

:Or would you rather be a part of a company that helps people become financially independent?

I dare you to name one person you know who has become 'financially independent' with Primerica. By the way, Amway, Quixtar, Shaklee, ..etc. all offer to do the same thing. Your dream is as hollow as the one they offer.

:For those of you who have been contaced by Primerica, and have not gone in to assess the opportunity for yourself - you are doing yourself a great injustice.

I'd say they potentially saved themselves $200.

:I work with Primerica in and environment where people are always energitic and upbeat and encouraging each other because they know that they are part of something that is GOOD.

No, it's because they've been told that so they don't walk out the door like the ~100,000 people that do so each year. I have been to meetings where reps are talking about maxing out the credit cards to attend a conference because they have the delusion they are going to "make it big" by selling people stuff.


:With Primerica - you work for yourself

No you don't. You're a commissioned salesperson, working for a multi-level marketing company.

:but the beauty of it is that you don't have to work BY yourself.

Right. You can attend rally meetings twice a week and hear how good it's going to be 'tomorrow' and to keep recruiting.

:If you really want to know the truth - this opportunity is NOT for anyone who want to get
rich.

Judging by Primerica's own numbers, it's not for anybody who wants to even earn a living.

:If you are weak spirited and are easily persuaded by rumors - you really should stay away

Actually, you'd be a perfect recruit for Primerica. Those who haven't seeen MLM and the way it works are easily persuaded by the hype and the promise that they are doing "good".

:- because your spirit will be broken eventually because the money comes slowly - but bear in mind that many of the people who will tell you wrong things about primerica are working people who are not financially independent.

Huh? Why would people who are working say bad things about a company they don't know anything about, unless they've seen through the hype, drivel, and lies?

:A simple illustration to those people who have been on the inside of primerica but have opted not to stick with it: Say you work for $10 an hour - 8 hours a day...You may think that you are eraining 80 dollars in a day - but the first hour pays your debt,

Like the debt you rack up attending fast start schools, buying voice-tel, traveling to conferences, purchasing gas to attend MLM recruitment meetings, and buying office supplies and brochures?

: the next three pay taxes,

Are you claiming you don't have to pay income taxes with your Primerica income? Is that what Primerica is teaching you?

:the next hour goes toward your insurances and

Wow - health insurance. Novel idea. I suppose Primerica provides that free of charge for you?

:pensions

What kind of pension fund does Primerica provide for its commissioned salesforce?

:and the next toward your living expenses - so really you're making 20 bucks and you are probably doing something you hate and depending on credit cards.

If you are living on credit cards now, even Citibank ones -- go ahead to Primerica. You don't know the meaning of maxing out your credit cards.

:I am really encouraging those of you who are being contacted to at least see for yourselves.

Yeah, read the countless accounts of recruiting-oriented, MLM-style rallies and high-pressure tricks to get you to join. Leave your checkbook at home. Why would you make a business decision without reading your contract carefully anyway?

:This is the kind of opportunity where you get out of it exactly what you put in.

No you can't. Primerica's own numbers show the average income to be less than $1000 gross for 98% of its reps. You can put in as much as you want, but what you get out is typical of MLM businesses.

:As such it is not for lazy people who are not dedicated and cannot committ even to themselves.

The standard-issue "lazy" line given to all Primerica reps to use in moments of desperation.

:I read a complaint where someone was upset because they had a background as an admin assistant but was offered a mangagerial position based on their resume and this person claimed to be appauled (sic)- where is your brain? where is your ambition? I guess you want to be someone's poopstool forever - and you want to leave that legacy for your kids. THAT is what is appauling (sic)

I think she was upset because she was being recruited to be an MLM salesperson, which is in no way shape or form a management position.

Best of luck with your MLM business. Let us know how you're doing in a year.

There are so many people who have a lot to say about Primerica who have not even set foot inside the company and who do not know what it's all about. I have a question for these people. Simply put would you rather sit at a desk 5 days a week and sell people things that they don't need? Would you rather work in a telemarketing job where you call people all day and get the phone hung up on you? Or would you rather be a part of a company that helps people become financially independent?

For those of you who have been contaced by Primerica, and have not gone in to assess the opportunity for yourself - you are doing yourself a great injustice. I work with Primerica in and environment where people are always energitic and upbeat and encouraging each other because they know that they are part of something that is GOOD.

With Primerica - you work for yourself but the beauty of it is that you don't have to work BY yourself. If you really want to know the truth - this opportunity is NOT for anyone who want to get rich. If you are weak spirited and are easily persuaded by rumors - you really should stay away - because your spirit will be broken eventually because the money comes slowly - but bear in mind that many of the people who will tell you wrong things about primerica are working people who are not financially independent.

A simple illustration to those people who have been on the inside of primerica but have opted not to stick with it: Say you work for $10 an hour - 8 hours a day...You may think that you are eraining 80 dollars in a day - but the first hour pays your debt, the next three pay taxes, the next hour goes toward your insurances and pensions and the next toward your living expenses - so really you're making 20 bucks and you are probably doing something you hate and depending on credit cards.

I am really encouraging those of you who are being contacted to at least see for yourselves. This is the kind of opportunity where you get out of it exactly what you put in. As such it is not for lazy people who are not dedicated and cannot committ even to themselves.

I read a complaint where someone was upset because they had a background as an admin assistant but was offered a mangagerial position based on their resume and this person claimed to be appauled - where is your brain? where is your ambition? I guess you want to be someone's poopstool forever - and you want to leave that legacy for your kids. THAT is what is appauling!

Thank you so much to all who have posted concerns. You've saved me. I was scheduled for an "interview" tomorrow. NOT NOW!! This was second time they called in 4 months. The other recruiter (yes, I asked) is no longer with the company.

The "recruiter" that called was very vague or just ignored answering questions:

Why did you call me: no finance background, no insurance background????
So what type of position is this exactly?
What are the key objectives and goals?
What is the salary range?
Is this a buisness opportunity or a job? (he didn't know what this meant)!

Live and learn. At least there was no $$ lost.

Thank you so much to all who have posted concerns. You've saved me. I was scheduled for an "interview" tomorrow. NOT NOW!! This was second time they called in 4 months. The other recruiter (yes, I asked) is no longer with the company.

The "recruiter" that called was very vague or just ignored answering questions:

Why did you call me: no finance background, no insurance background????
So what type of position is this exactly?
What are the key objectives and goals?
What is the salary range?
Is this a buisness opportunity or a job? (he didn't know what this meant)!

Live and learn. At least there was no $$ lost.

Thank you so much to all who have posted concerns. You've saved me. I was scheduled for an "interview" tomorrow. NOT NOW!! This was second time they called in 4 months. The other recruiter (yes, I asked) is no longer with the company.

The "recruiter" that called was very vague or just ignored answering questions:

Why did you call me: no finance background, no insurance background????
So what type of position is this exactly?
What are the key objectives and goals?
What is the salary range?
Is this a buisness opportunity or a job? (he didn't know what this meant)!

Live and learn. At least there was no $$ lost.

Here's another trick they will pull:

There was a plastic jug sitting on a counter at a local deli. A poorly handwritten sign on it says "Win A Free Financial Needs Analasis [sic]". Of course the odds of "winning" are about 1 in 1. The agent will then come to your house and take all of your personal information and plug it into a computer. Consider the following scenario that actually happened.

The computer spit back a report on a person. This person has a mortgage of about 110,000 at around 7.9%, with no other debt. Every month, this person writes a check for about $1025 to the mortage lender: 775 in principle and interest (P&I), 50 in mortgage insurance, 50 in homeowners insurance, and 150 in property taxes.

This person could refinance at a 7% rate, which is the going rate for the market for the person's credit and loan profile.

Primerica, however, has extremely high interest rates on their loans. There is no way they could compete in real life. So what do they do?

They lie.

Understand, Primerica targets typically those undereducated in finance, and hopes that the consumer doesn't catch their little "tricks" when presented in fine print at mortgage closing. Typically, the representative is a friend or family member in whom the victim often places blind trust.

Here is what Primerica offered on the above mortgage:

an interest rate of 8.98% (That's 2% higher than the market, and a full % higher than the victim's CURRENT loan!!)

But how can any consumer be dumb enough to accept that? They do, and it's because Primerica misrepresents the numbers.

With their loan, the principle and interest (P&I) is $875. The consumer/victim is ON THEIR OWN to pay taxes and insurance. In this case, the victim's total monthly outlay is $875 + $150 tax + 50 insurance = $1075!!! It is HIGHER than the consumer's current payment, and it's for a FULL THIRTY YEARS!! (In this case, there were only 26 years left on the consumer's old loan).

Yet what does Primerica do? They compare their $875 (P&I ONLY) payment to the victim's current $1025 (everything included) payment, and claim a $150 SAVINGS!!! Can you believe that??

Of course, PFSers have said in the past "oh, we don't do that. This person is just bitter."

But here is visible proof at www.geocities.com/pfs_sux/loan.jpg. It's the scanned-in loan offer from Travelers on behalf of Primerica. Note that it mentions SAVINGS no fewer than three times, and goes so far as to quantify it!

When financially savvy consumers point this huge lie out to the agents from Primerica, they say things like "but it's only the check that you send to your lender that matters." HOGWASH!!! This is a blatant lie and deliberate misrepresentation of products, because THERE IS NO WAY ON EARTH THAT A PRIMERICA LOAN CAN COMPETE WITH A LOAN FROM A REPUTABLE LENDER. So they have to lie about it.

Keep in mind that this lie is perpetrated PRIOR to any mention of bi-weekly garbage (it says so on the document). It is prior to any hogwash about pre-paying principle on the loan due to simple interest. It says, plain as day, that the plain 30-year mortgage at 8.98%, SAVES the consumer money.

They will then use this false, but quantified, savings to attempt to convince the consumer that they can afford more life insurance, and can invest in their loaded, high-commission mutual funds.

There are probably consumers who don't realize this huge misrepresentation until taxes become due and they realize that they haven't been paying property taxes all along, or until their hazard insurance is due and they haven't been paying it all along. It's OK, though, because the Primerica agent has, in the meantime, earned a commission of this blatant series of lies and misrepresentations, often to their own family!

It is all-out deception, at any cost, when Primerica is involved. Consumer BEWARE!

Here's another trick they will pull:

There was a plastic jug sitting on a counter at a local deli. A poorly handwritten sign on it says "Win A Free Financial Needs Analasis [sic]". Of course the odds of "winning" are about 1 in 1. The agent will then come to your house and take all of your personal information and plug it into a computer. Consider the following scenario that actually happened.

The computer spit back a report on a person. This person has a mortgage of about 110,000 at around 7.9%, with no other debt. Every month, this person writes a check for about $1025 to the mortage lender: 775 in principle and interest (P&I), 50 in mortgage insurance, 50 in homeowners insurance, and 150 in property taxes.

This person could refinance at a 7% rate, which is the going rate for the market for the person's credit and loan profile.

Primerica, however, has extremely high interest rates on their loans. There is no way they could compete in real life. So what do they do?

They lie.

Understand, Primerica targets typically those undereducated in finance, and hopes that the consumer doesn't catch their little "tricks" when presented in fine print at mortgage closing. Typically, the representative is a friend or family member in whom the victim often places blind trust.

Here is what Primerica offered on the above mortgage:

an interest rate of 8.98% (That's 2% higher than the market, and a full % higher than the victim's CURRENT loan!!)

But how can any consumer be dumb enough to accept that? They do, and it's because Primerica misrepresents the numbers.

With their loan, the principle and interest (P&I) is $875. The consumer/victim is ON THEIR OWN to pay taxes and insurance. In this case, the victim's total monthly outlay is $875 + $150 tax + 50 insurance = $1075!!! It is HIGHER than the consumer's current payment, and it's for a FULL THIRTY YEARS!! (In this case, there were only 26 years left on the consumer's old loan).

Yet what does Primerica do? They compare their $875 (P&I ONLY) payment to the victim's current $1025 (everything included) payment, and claim a $150 SAVINGS!!! Can you believe that??

Of course, PFSers have said in the past "oh, we don't do that. This person is just bitter."

But here is visible proof at www.geocities.com/pfs_sux/loan.jpg. It's the scanned-in loan offer from Travelers on behalf of Primerica. Note that it mentions SAVINGS no fewer than three times, and goes so far as to quantify it!

When financially savvy consumers point this huge lie out to the agents from Primerica, they say things like "but it's only the check that you send to your lender that matters." HOGWASH!!! This is a blatant lie and deliberate misrepresentation of products, because THERE IS NO WAY ON EARTH THAT A PRIMERICA LOAN CAN COMPETE WITH A LOAN FROM A REPUTABLE LENDER. So they have to lie about it.

Keep in mind that this lie is perpetrated PRIOR to any mention of bi-weekly garbage (it says so on the document). It is prior to any hogwash about pre-paying principle on the loan due to simple interest. It says, plain as day, that the plain 30-year mortgage at 8.98%, SAVES the consumer money.

They will then use this false, but quantified, savings to attempt to convince the consumer that they can afford more life insurance, and can invest in their loaded, high-commission mutual funds.

There are probably consumers who don't realize this huge misrepresentation until taxes become due and they realize that they haven't been paying property taxes all along, or until their hazard insurance is due and they haven't been paying it all along. It's OK, though, because the Primerica agent has, in the meantime, earned a commission of this blatant series of lies and misrepresentations, often to their own family!

It is all-out deception, at any cost, when Primerica is involved. Consumer BEWARE!

Here's another trick they will pull:

There was a plastic jug sitting on a counter at a local deli. A poorly handwritten sign on it says "Win A Free Financial Needs Analasis [sic]". Of course the odds of "winning" are about 1 in 1. The agent will then come to your house and take all of your personal information and plug it into a computer. Consider the following scenario that actually happened.

The computer spit back a report on a person. This person has a mortgage of about 110,000 at around 7.9%, with no other debt. Every month, this person writes a check for about $1025 to the mortage lender: 775 in principle and interest (P&I), 50 in mortgage insurance, 50 in homeowners insurance, and 150 in property taxes.

This person could refinance at a 7% rate, which is the going rate for the market for the person's credit and loan profile.

Primerica, however, has extremely high interest rates on their loans. There is no way they could compete in real life. So what do they do?

They lie.

Understand, Primerica targets typically those undereducated in finance, and hopes that the consumer doesn't catch their little "tricks" when presented in fine print at mortgage closing. Typically, the representative is a friend or family member in whom the victim often places blind trust.

Here is what Primerica offered on the above mortgage:

an interest rate of 8.98% (That's 2% higher than the market, and a full % higher than the victim's CURRENT loan!!)

But how can any consumer be dumb enough to accept that? They do, and it's because Primerica misrepresents the numbers.

With their loan, the principle and interest (P&I) is $875. The consumer/victim is ON THEIR OWN to pay taxes and insurance. In this case, the victim's total monthly outlay is $875 + $150 tax + 50 insurance = $1075!!! It is HIGHER than the consumer's current payment, and it's for a FULL THIRTY YEARS!! (In this case, there were only 26 years left on the consumer's old loan).

Yet what does Primerica do? They compare their $875 (P&I ONLY) payment to the victim's current $1025 (everything included) payment, and claim a $150 SAVINGS!!! Can you believe that??

Of course, PFSers have said in the past "oh, we don't do that. This person is just bitter."

But here is visible proof at www.geocities.com/pfs_sux/loan.jpg. It's the scanned-in loan offer from Travelers on behalf of Primerica. Note that it mentions SAVINGS no fewer than three times, and goes so far as to quantify it!

When financially savvy consumers point this huge lie out to the agents from Primerica, they say things like "but it's only the check that you send to your lender that matters." HOGWASH!!! This is a blatant lie and deliberate misrepresentation of products, because THERE IS NO WAY ON EARTH THAT A PRIMERICA LOAN CAN COMPETE WITH A LOAN FROM A REPUTABLE LENDER. So they have to lie about it.

Keep in mind that this lie is perpetrated PRIOR to any mention of bi-weekly garbage (it says so on the document). It is prior to any hogwash about pre-paying principle on the loan due to simple interest. It says, plain as day, that the plain 30-year mortgage at 8.98%, SAVES the consumer money.

They will then use this false, but quantified, savings to attempt to convince the consumer that they can afford more life insurance, and can invest in their loaded, high-commission mutual funds.

There are probably consumers who don't realize this huge misrepresentation until taxes become due and they realize that they haven't been paying property taxes all along, or until their hazard insurance is due and they haven't been paying it all along. It's OK, though, because the Primerica agent has, in the meantime, earned a commission of this blatant series of lies and misrepresentations, often to their own family!

It is all-out deception, at any cost, when Primerica is involved. Consumer BEWARE!

Here's another trick they will pull:

There was a plastic jug sitting on a counter at a local deli. A poorly handwritten sign on it says "Win A Free Financial Needs Analasis [sic]". Of course the odds of "winning" are about 1 in 1. The agent will then come to your house and take all of your personal information and plug it into a computer. Consider the following scenario that actually happened.

The computer spit back a report on a person. This person has a mortgage of about 110,000 at around 7.9%, with no other debt. Every month, this person writes a check for about $1025 to the mortage lender: 775 in principle and interest (P&I), 50 in mortgage insurance, 50 in homeowners insurance, and 150 in property taxes.

This person could refinance at a 7% rate, which is the going rate for the market for the person's credit and loan profile.

Primerica, however, has extremely high interest rates on their loans. There is no way they could compete in real life. So what do they do?

They lie.

Understand, Primerica targets typically those undereducated in finance, and hopes that the consumer doesn't catch their little "tricks" when presented in fine print at mortgage closing. Typically, the representative is a friend or family member in whom the victim often places blind trust.

Here is what Primerica offered on the above mortgage:

an interest rate of 8.98% (That's 2% higher than the market, and a full % higher than the victim's CURRENT loan!!)

But how can any consumer be dumb enough to accept that? They do, and it's because Primerica misrepresents the numbers.

With their loan, the principle and interest (P&I) is $875. The consumer/victim is ON THEIR OWN to pay taxes and insurance. In this case, the victim's total monthly outlay is $875 + $150 tax + 50 insurance = $1075!!! It is HIGHER than the consumer's current payment, and it's for a FULL THIRTY YEARS!! (In this case, there were only 26 years left on the consumer's old loan).

Yet what does Primerica do? They compare their $875 (P&I ONLY) payment to the victim's current $1025 (everything included) payment, and claim a $150 SAVINGS!!! Can you believe that??

Of course, PFSers have said in the past "oh, we don't do that. This person is just bitter."

But here is visible proof at www.geocities.com/pfs_sux/loan.jpg. It's the scanned-in loan offer from Travelers on behalf of Primerica. Note that it mentions SAVINGS no fewer than three times, and goes so far as to quantify it!

When financially savvy consumers point this huge lie out to the agents from Primerica, they say things like "but it's only the check that you send to your lender that matters." HOGWASH!!! This is a blatant lie and deliberate misrepresentation of products, because THERE IS NO WAY ON EARTH THAT A PRIMERICA LOAN CAN COMPETE WITH A LOAN FROM A REPUTABLE LENDER. So they have to lie about it.

Keep in mind that this lie is perpetrated PRIOR to any mention of bi-weekly garbage (it says so on the document). It is prior to any hogwash about pre-paying principle on the loan due to simple interest. It says, plain as day, that the plain 30-year mortgage at 8.98%, SAVES the consumer money.

They will then use this false, but quantified, savings to attempt to convince the consumer that they can afford more life insurance, and can invest in their loaded, high-commission mutual funds.

There are probably consumers who don't realize this huge misrepresentation until taxes become due and they realize that they haven't been paying property taxes all along, or until their hazard insurance is due and they haven't been paying it all along. It's OK, though, because the Primerica agent has, in the meantime, earned a commission of this blatant series of lies and misrepresentations, often to their own family!

It is all-out deception, at any cost, when Primerica is involved. Consumer BEWARE!