Complaint Review: Primerica Financial Services

First off I'd like to say that this website has given me great insite and has inspired me to write. I would like to share my experiences and the truth about how primerica works in Englewood Cliffs NJ. This location was where I was drawn in and "brainwashed" by the cult...

It all started at a Job fair in Wayne NJ. As I was walking around I was a approached by a rep from Primerica, we will call him B for short. We talked for about 10 minutes or so sharing numbers, Career goals and what not. Thinking not much of it I walked away with his card. (this was a friday morning)

So Sunday rolls around and im sitting on the couch watching football like every other American at 3 pm on a Sunday in November would be. The phone rings and who is it... It's B from primerica. So im like "hey what is going on" and we talk and what not. To make it short we set up an "INTERVIEW" on a tuesday in Englewood Cliffs NJ. Somewhat exctied I go to this "Interview" and B isnt even there. He was coming "later." I was told to sit in a room with 15 other people that were told the same thing. I figured that this was normal somehow and I will have a formal interview after (just to make it clear this was at 730pm). Instead of an "Interview" I was forced to watch a 1 hour and 30 min. powerpoint persentation proclaming how wonderful Primerica is. The show continued and we all sat there listening to this guy brag about how great they were and how Primerica helps people.

After the Powerpoint show a RVP came up and was talking to us. He pulled up a slide that showed the break down of how people are making money through the company.
Ex.
5000 people- 50K plus
250 people 100K plus
100 people 200K plus
50 people 500K plus
and 5 people 1 million Plus
This sounded great at the time and got me all excited that I was gonna make some money. KEY POINT (there are over 100K people that kinda work for Crapmerica so only 5% make that much). Anyhow, after they were done presenting they opened the floor up to questions. The RVP kept asking questions and one person kept on answering. I was impressed by this person, who was there for the first time like I was.

Anyhow, B came up to me after the presentation with a folder. This folder contained a sheet that asked for my info along with 3 contacts (this was labled under a section called REFERENCES) just to let everyone know. They are leads, not references. So at the bottom it asked for some Credit card info. I was hesitant but B explained to me that it was for my 199 dollar fee they talked about. He pretty much told me that I need to pay this in order to continue on with the company. So I did. The First Night.

Next I was invited back for a 2nd interview with Primerica. I was unable to attend the meeting or Interview in Englewood so they told me to meet them in NYC at the New Yorker building. So SUNDAY night I met them there. There was about 100 people there who were on there 1st interview and 5,like me, on there second interview. The office was a mess, papers and information open and out in plain site. EVERYWHERE. They pulled me aside and we went for the second phase of the interview. Here is where I noticed something weird. One of the people that was running the NYC operation was the same person that was answering all the questions in the first interview or whatever it was that I was in!!! He was just a plant. So blah blah blah I pretty much watched a Primerica movie that preached the high word and had another speech from some primerica millionare. After I was dragged to B's office, which was the lobby of the New Yorker building, and given some booklet of info. I was told that I was in and our first training meeting was next tuesday in englewood cliffs.

So I go to the training meeting on Tuesday. Let me also say I have NO finacial backround at all. None. How did I qualify for the job? I figured they would train me... So I go to this meeting and there was a bunch of first timers there again. Where was this training? I go into this room where they claimed training was, there were about 50 people or so in there. I figured they were like me, ya know just getting started. On the contrary they were the slaves. The entire meeting (now understand this is my third time, I know nothing about finance) they talked about recruiting. THATS IT, not one thing was said about finacnce or anyone they helped. The whole meeting was about how many guest they brought down tonight that were in the other room. thats it. so 3 meetings, I think I have the job, really I don't have a thing. Lost.

So B continues to call me everyday making sure im ok and understand the recruiting process. I mean he called everyday between 10pm and midnight. I said, I have no idea whats going on.. He said "its ok, can you please bring some guest down and PLEASE DONT TELL THEM WHAT WE DO. Ill handle that" . At this point I dont understand what they do so How could I bring a guest. So I go to the meeting next tuesday night. Same situation, same crowd of new people and a whole meeting of how to recruit people. That continued for two weeks, NEVER once was anything spoken about finance.

So B takes me aside and wants to set up a meeting with someone I know so i can do my first Plan. This was going to be my training, I find a client, take B to the meeting, watch, and if he makes a sale I get half. Not only that but Primerica asks anyone they work with for 10 leads!!!! 10. thats insane. So we go on this planning with my brother and my brother, a county worker knows more about Finance then B does. He questioned every move and B didnt have an answer. His only comment was "maybe you should work for us" yeah cause no one knows what they are doing.

So back to this 199 dollars. This is for you licencing so you can sell life insurace. Thats pretty much all you do is life insurance at Primerica. So you set up this 4 day training. 8 hours a day for 4 days. Sounds like fun right??? So I go to the center in Woodbridge, can't find the place. I must have stopped and aked 5 people. So after 1 hour of driving around the town of Woodbridge I find the place. I'm not joking when I say this, It was in the middle of a junkyard/landfill. No joke. That's why no one knew where it was. There were accual garbage trucks dumping in a land fill next to the place. So anyway I go in now, 30 mins late cause this place is in the middle of a landfill and they tell me I have to come back another time cause Im late for 30 mins of a 32 hour class about Life insurance. Also, just to note, there were only 5 people in the class and 3 of them looked homeless.

After one more recruiting meeting I left. I worked for Lie-merica for 1.5 months and I accually lost money. How is that possible. Its because this company cares more about recruiting then the service or the people who work there. I'm 1000% sure that 98% of the people there know nothing about finance other than what the little flyer they give out says.

It's a BUNCH OF CRAP. Liars and if you want names I can spit a bunch of them out so no one else gets stuck like I did.

I cant wait to hear there responses. Oh you didn't do it for long enough, you didnt understand. Its crap. They put me on there fast track system. CRAP. they also do this world interest rates of 12-14%- CRAP. They don't know anything. I currently have 2 financial advisors, AMEX and PRICE WATERHOUSE COPPER. they call Crapmerica the "Boiler Room" of the industry. If you want the truth and someone who knows what they are doing, go somewhere else. What I still dont understand is that CitiGroup is a huge finacial institution. Why do they need Primerica. They don't! Its all a cover for taking hard earned AMERICANS money.

Stay away from primerica. If anyone needs me I'm at a real institution right up the road on slyvan ave and if any Primerica people want to have a "meeting" with me ever.I will gladly met and argue the FACTS at the bicycle club in Englewood Cliffs. In fact I'll be waiting there for my $199 back.

Joe
clark, New Jersey
U.S.A.

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