Complaint Review: PRIMERICA

Right now, primerica is selling a lot of garbage. No doubt about it. B like in Billions of dollars worth of Bad insurance.

Honestly, I don't know how in the hell they manage to do that. They must be using the same accounting scam that the parent company, citi, was using in the enron and worldcom ripoffs. There's no other explanation. There can't be that many people who are letting themselves get sucked into this con.

Yes, I know primerica cooked up this scheme to recruit people by the thousands and then fool them into handing over a list of their friends and relatives.

But, let's face it, most of those friends and relatives have internet access, right?

Hell, one look on the internet and you'd never buy anything from either primerica or citi. There are whole sites dedicated to exposing the primerica fraud. There are hundreds of individual complaints right here on the ripoffreport.

The complaints on this site come up right underneath primerica's own site. Not once, but TWICE.

And as for citi, well show me one scam they AREN'T connected to. Anyone who searches for citi scams is in for hours and hours of reading. The list goes on and on.

And, as the internet continues to grow and mature, that situation will only get worse.

So, how can they continue to scam this many innocent victims?

My guess is that many people still don't know about the primerica con. So, it's up to new people like you to read about it here and warn others before they end up owing their whole paycheck to both primerica and citi.

I'm telling you, a scam like this should be the top story on the evening news.

Quoting:

"I see a lot of negative reports of Primerica...." I wonder why?

"So anyone can do the job if you can get a license and trust me it isn't the easiest achievement." What job besides hoodwinking the public?

"PFS supports all the fees except for the 199 due to the fact if they paid all the fees required by Colorado state you would get certified then go work for someone else that does pay hourly." That's a laugher. If Primerica were that good they wouldn't have to worry about a newbie running off to work for someone else (but then again, Primerica's turnover is extremely high anyways, whether or not they pay for the $199).

"Primerica pays in four ways, one is commision,...." There's only commission and salary and we already know that Primerica doesn't pay any
salary.

"Anyways if you are lucky to meet a primerica rep. listen and decide for yourself cause these looser on here don't know what there talking about, they spent 45 min. with a rep that probally was also new.." You can't even spell loser correctly along with Primerica and probably, so if I were you I'd watch who I was calling a loser (incidentally you've been with Primerica a whole month now - I wouldn't regard you as an expert, far from it).

"Everyone else bad talking primerica, in a few years call us and we'll help you still cause thats what we do! Help people" The only help Primerica gives people is to help steal the unwaries' money.
Nothing more as Gary would like you to believe as
his report lacks detail and documentation to prove what he's saying - just running his mouth off as a typical troller trying to follow a script.

If you read these primerica complaints, and there are a helluva lot of em here, you will see one thing they all have in common. They all have comments from someone who claims to be a new recruit with the company.

The new recruits are all floating on cloud nine. They think they've finally found their pot of gold at the end of the rainbow. They go on and on about this great business opportunity that primerica has given them.

They talk about how they no longer have to work at a JOB (Just Over Broke) like the rest of us. They go on and on about their big dreams of becoming financially independent and wealthy.

The longer they talk, the more you have to laugh. Actually, the whole thing isn't funny at all. It's pathetic, really. To see how primerica takes advantage of innocent suckers who were only looking for a job. This is a disgusting scam that builds up people's hopes and dreams and then sits back and laughs when they fail.

When you read these comments from these new recruits, you are seeing someone who has totally fallen for the scam. They actually believe everything that they post here. In fact, there is NO talking them out of it. They have fallen for the con hook, line, and sinker.

The fools actually think they are going to be out helping people. Oh, they'll be helping people alright! Helping them right out of all their hard-earned money is more like it!

I feel sorry for these new recruits because many of them are wasting good money and time they don't have to give away. Most of the recruits came from internet job sites. Many of them are out of work.

There's no great opportunity waiting for anyone at primerica. Hell, last year, the company recruited approximately 100,000 new people. And all 100,000 ended up quitting once they found out they had been scammed. Of course, most of them paid hundreds of dollars for the insurance license that primerica requires. And then, they spent hundreds more going out and trying to actually sell the insurance. All for nothing.

In the end, they finally realized that they had been cheated. All primerica ever wanted from them was their list of friends and family members. That's how the company sells its rip-off insurance garbage. They recruit thousands of new people each week. They get them all excited about their phony business opportunity.

Then, after they sign on as recruits, the company demands $199 plus a list of friends and relatives. But, the fun isn't over yet. No, the company is just getting started with the new sucker!

Next, the company will team the new sucker up with an existing agent. Together, the two of them will go out and hustle the garbage off to all the sucker's friends and family members. Remember all the good things that the new suckers come here and post? Well, imagine how that impresses all their friends. Helping people! Getting out of debt! Investing for retirement! The scams go on and on. The funny thing is, none of them are true.

The new recruits sit alongside the agent and proceed to get everyone they know to buy into the primerica scam.

And, what do these recruits get for all their time and effort?

Nada. Nothing. A big fat goose-egg. Not one thin dime!

You see, they are supposed to be in training. So, the company doesn't have to pay them anything.

Naturally, once the sucker's list of friends and relatives is all used up, they drop the fool like a sack of garbage. The sucker is left trying to meet people in shopping centers and trying to sell the insurance. But, without a friend of the victim to help work the con, people won't give the recruit the time of day.

So, they coast to a halt. Some of the stupid ones spend months trying to sell the insurance. They never realize that without a friend to help make the sale, the job is impossible.

In the end, they all give up. Hell, they can't make any money. If they stick with this primerica scam any longer, they'll end up sleeping on a park bench. And, there goes their big dreams and big plans for financial independence. Right into the dumpster! Once they smarten up, most never come back here anymore. How could they ever admit they were cheated so badly? They'd look stupid.

That's the whole story of primerica. So, now you know that when you see one of these enthusiastic comments from a new recruit, it's because he hasn't figured out the con yet.

But, he will find out very soon. That's a guarantee!

One thing you have to remember here. Each time one of these gung-h*o recruits signs up, he helps to push his friends and family into the primerica scam. Those unfortunate people are left stuck with the payments long after the sucker wises up and drops out of primerica.

You see, primerica is part of citigroup. Yes, that's the same exact citigroup that was running the enron and worldcom scams. Citi manages to cheat people out of trillions of dollars each year. One sucker at a time. That's exactly how they became the largest scam on this planet.

There really is only one question left.

Will you or someone you know be their next victim?

I see a lot of negative reports of Primerica however if anyone had sat through more than a 45 min. interview you would understand more about what primerica is about. First when you see someone siting there nodding it is because he is trainning and the one promoting Primerica should have told you this prior to the interview. Second the 199 is refundable when you get your state required license, yes like a morgage broker or car insurance sales man you need a license. So anyone can do the job if you can get a license and trust me it isn't the easiest achievement. To be licensed in Co state it cost over 500 dollars, PFS supports all the fees except for the 199 due to the fact if they paid all the fees required by Colorado state you would get certified then go work for someone else that does pay hourly. Pay with primerica is great because if you are lazy and do the min. to servive you will get what you deserve, I am in the military and its about time I get paid for what I do not an average pay for showing up. I've been with Primerica for a month and enjoy the positive atmospher rather than backstabing corp. world. And you know if I do want to quit I would but I enjoy the competitions primerica offers such as the trip coming up to wikiki and the limo ride to denver.

Pay is an issue with you all, Primerica pays in four ways, one is commision, yes and thats how a car dealer gets paid so you wouldn't want to sell cars either from what I read, dividens is another possibility, Overrides and that is were recruiting comes in to effect so if you don't want overrides then don't recruit its your choice but I know my buddies that had war clauses in there Life Insurance are happy I got started due to the fact they are returning to Iraq this year some time. Oh and you can get ownership in your buisness. so when I hear its a scam, I get upset because if it were a scam a little old lady here in Col. Springs got scammed by two groups in one week, but our scam got her out of debt at the current age of 72 and will have her home paid off in 9 years rather than the 30 year plan the other company down the street and I won't name them cause its wrong, however that agent is out of business now. Anyways if you are lucky to meet a primerica rep. listen and decide for yourself cause these looser on here don't know what there talking about, they spent 45 min. with a rep that probally was also new..

Everyone else bad talking primerica, in a few years call us and we'll help you still cause thats what we do! Help people

Quote:

"Primerica gives you a business. Yes,you read right.That $199 all you people keep yelling about,is the fee to, in essence, start your business." Wrong on this score. You have to reach a certain title level before you can rightly claim to have a "business." Besides that it costs far more than the $199 you initially start off with so that you can get the proper licensing, education and business location.

Quote:

"Primerica shows breadwinners how to properly manage their funds through the FNA." More bull. Just a sales tool designed to unload Primerica trash on the unwary.

Quote:

"Who would want delivering your death benefit? Some sleezy salesperson,or your family member?"
Neither, just a responsible, trustworthy company
such as MetLife e.g.

Quote:

"Smart reps usually do not talk to people about life insurance." That's because Primerica lacks in
smart reps (the awful grammar from Primerican trollers is proof of that).

"Hundreds of Primerica reps make lots of money without recruiting." Has yet to be proven on Ripoff Report.

"Recruiting makes it easier for your business to grow because someone can "watch the store" while you're out." If that's so why all the negative posts on Ripoff Report and other websites?

"Primericans DO NOT get paid for recruiting." That
should read "Primericans do not get paid directly
for recruiting." Why? Read the next quote.

"Recruits do not make less money as a result of their RVP getting his/her override." Actually there are six title levels making money off of the
sale (except for the frontline agent) so it isn't
that the recruit makes less money, it's that the recruit makes NO money at all.

"Finally,Primerica is not a scam." Biggest piece of bull posted by this scamming troller.

"I invested $199 on two separate occasions in order to have my own business and be able to help families." You mean that Primerica got you TWICE for $398 total? Why don't you fess up and admit how much it really cost you in total including all the business expenses, how much of your income derives from your downline, how long you've been in Primerica, what your title is just for starters and document this on Ripoff Report?

First, let me apologize to those of you who have had bad experiences dealing with Primerica associates. The problem is this: Those people would conduct themselves in the same manner if they were working for ANY company, not just an MLM, not just Primerica.

Now,the fun part. Primerica gives you a business. Yes,you read right.That $199 all you people keep yelling about,is the fee to, in essence, start your business.Go to another financing company and ask them how much it is to come into business with their company.I'm sure they will tell you anywhere from $500-$5000(LOOK INTO IT YOURSELF)and you will be an employee, not a business owner.

People are scared to live outside of the system. Uncle Sam tells you to go to college to be able to get a good job to provide for your family.During the course of all this,you become entranced in a life of paying bills and being broke.You work to pay debt. Most people will not being able to retire at the age of 65 due to lack of funds.

Primerica shows breadwinners how to properly manage their funds through the FNA. I don't care if it's qualified or not,IT WORKS!You, as the consumer,have to be disciplined enough to follow it.As far as all our other products is concerned, the issue is this: Who would want delivering your death benefit? Some sleezy salesperson,or your family member? That's why we are encouraged to talk to family members first. They already know for they can(HOPEFULLY) trust us.I'm sure there are times a consumer would be able to find interest rates,quotes, and the like "cheaper" than what Primerica is offering. The issue is the fine print.How much will you save over the life of the loan v.immediate savings?I,for one, would rather save $50,000+ over a thirty year period than a few thousand in the short run.

Smart reps usually do not talk to people about life insurance. Smart reps discuss the FNA and recruiting with potential clients.Hundreds of Primerica reps make lots of money without recruiting.Recruiting makes it easier for your business to grow because someone can "watch the store" while you're out.Primericans DO NOT get paid for recruiting.Recruits do not make less money as a result of their RVP getting his/her override.As far as the "cult" thing is concerned, PUHHHHLEASEEEEEEEE!!!!!!!!!!!!!!How old are you people,12?If you were helping several families a week,you'd be shouting "Amen' at the top of your lungs,too.And if you recived money for doing so, you'd really be thanking God.

Finally,Primerica is not a scam.I invested $199 on two separate occasions in order to have my own business and be able to help families.Changing someone's lifestyle starts with their mindset.If a man believes he has the chance to be wealthy,then he will treat his wife better,send his children to better schools,and conduct himself in a more orderly manner.If a man believes he will be stuck in a job,with little to no chance of advancement,it will show in all his actions.The point is: Primerica challenges people to think bigger than they ever have.If you want a rep to monitor their progress in Primerica,you just found her. I will gladly lead the line of defending my company and business in the face of adversaries anytime, any place.

What else can you say about a friend who starts coming around and calling you out of the blue, only to find out that all they really want is to suck you into a primerica scam?

That's no friend. That's a leech who only wants money out of you.

And, I'd also say that person is a d**n fool for getting involved with primerica in the first place. There is plenty of good information on the internet that explains all about the primerica con. Anyone who bothers to take 30 minutes can find out exactly how the primerica scam operates BEFORE they get involved.

Julie, it sounds like your friend finally wised up and got out of primerica. Probably, after she found out that nobody in their right mind would ever buy the insurance.

You see, that's why they run this recruiting scam. It's the only way to force people to buy the insurance. The company needs to use a friend of yours to help pressure you into buying the trash.

That's their whole marketing plan. Recruit new people with fake promises of wealth. Get a list of friends from each new recruit. Then, use that recruit to pressure each person on that list into buying something.

By itself, the insurance is such a bad deal that nobody will ever buy it. So, that's why they need to get your friend involved in pressuring you into it.

If you actually want to learn about money, the public library has a whole shelf full of books that will explain everything you ever wanted to know. And, since the library isn't running a scam like primerica, they won't make you buy insurance to get the information.

And, the information will be the honest truth, not the lies you get from primerica. All primerica wants is to scare or pressure you into handing over your money.

If you want to get out of debt faster, you can make extra payments on your mortgage. Make several extra payments each year. That's the same thing that citi's mortgage has you do. Except, you won't have to pay the crazy citi interest rate and loan fees. You'll get out of debt even faster and save yourself thousands of dollars over the trash that citi would have put you into.

Trust me, both citi and primerica are only out for one thing. Your money. As much of it as they can manage to con you out of.

Just look at citi. They managed to cheat people out of a trillion dollars. A big part of that must have come from the enron and worldcom scams. I wonder what scam they are working on now?

Hopefully, they won't get any of your money.

I have read all of the postings here and I am beside myself. One of my friends was a "stooge" recently for this company. We didn't talk often, but all of a sudden she seemed to be calling me acting very friendly. I figured that she was lonely, or just needed a friend to talk to. Well, after a couple of phone calls, she started talking about finances. Asking me all sorts of questions about my life insurance, retirement, etc. She then explained that she was working for a company in addition to her day job that offered "financial planning" and that they were helping people plan for the future. It hurt my feelings! She also wanted to recruit me. She kept pressuring me for weeks to come to my place and bring her "boss". Well, I gave in and they came over. It was 3 hours of some strange man making me feeling afraid to leave my house. Talking about being struck down by a car and my children not having any money to bury me. The whole time she just sat there silent. I couldn't wait for them to leave. I was skeptical... and never returned any of their calls after that. I have spoken to my friend recently and she mentions nothing of that company at all! I asked her about it once, and she quickly changed the subject. Oh, one more thing... there are so many typos and grammatical errors in these postings that it is horrible. Any educated person should know how to spell some of these words.. Anyway, I just wanted to post my experience with this company. I'm not going to sit here and talk trash about them.. Everyone out there should use their best judgment, and not get hooked in. If they do, it is on them! We all make choices... Last but not least, I had a representative from Primerica/Citicorp actually call me last night regarding a great job opportunity. He claimed that it was in response to a resume that I had posted. I did a google search this morning to check them out, not knowing who they were and found this awesome website... I am now totally informed. Strange how things work out, huh?

Is that your idea of helping people?

Coming into their home and convincing them to buy something that costs more?

Of course, you either lie or confuse people so that they never realize just what is happening.

All that does is take extra money out of their pockets that they could better spend on food or gas.

I really don't see the help in any of that.

Quoting:

"...the reason we have time to respond to ripoff reports is because we only have to work a few hours a week in order to make the same amount of money that someone else might make working a full-time 9-5 office job. We can work as little or as much as we want each week, selling and recruiting."

Can you document this on Ripoff Report? Otherwise it's another unsubstantiated claim by a Primerican.

Raquel, the reason we have time to respond to ripoff reports is because we only have to work a few hours a week in order to make the same amount of money that someone else might make working a full-time 9-5 office job. We can work as little or as much as we want each week, selling and recruiting.

I am sorry that you had a bad experience. The representatives of Primerica have only been nice to me. They have answered my questions completely and in great depth, explained everything in a way that I can understand. The initial phone conversation and office meeting were a little vague; however, at my one-on-one interview, all was revealed. Not all of the representatives are vague or reluctant to answer questions adeuqately.

There are some people that are only interested in making money with this company, enough to rip people off or abuse them. Not all of us are like that. If I am asked to do things that aren't in my client's best interest, I will resign immediately. The money is important, of course, but it is not the only thing. Not all of the representatives are concerned only with their own financial gain.

I am hyped about having a job that allows me to make money but still be a stay-at-home mom when my husband is at worked, a job that I can take with me when I move, a job that allows me to possibly help others, and a job that allows me to control my own hours.

Stuart, the company works for everyone who is willing to do the job. The "fat cats" as you call them had to WORK to get where they are. The system works well for them because they did the work to become the 'fat cats.'

I have seen lots of reports about abuse and overzealous agents, and I will agree that is wrong. My own experience with Primerica has so far been very positive. If I did see abuse or pressure, I would leave immediately. So far it has been a nonissue, though.

I have never been told to try to recruit people before trying to help them. I've been told to do what is best for the client, over and over again. They wish for you to recruit as well, but it is not the only important thing.

I am very new to the company. I have so far liked what I have seen. If it does turn out to be just a scam, then all I have lost is $199 and a few hours of my time. I'd rather take the chance than let it fly by because it might not work out.

i was supposed to have a primerica rep come to my home in 2 days with a relative, who is thinking of jioning and will use me for his training and then hook me in next.

i decided to do last minute research on this company myself or my husband had never heard of.
very thankful for all the info here, we're going to pass on the invite.

to all you primerica reps out there, shame on you for being so greedy.

if you want to make an honest living and be blessed, you've got to BE honest yourself.

i could not look people in the eye and knowingly hook them into a MLM just for my benefit, knowing it was not really doing them any good, just making money for ME. aren't we here on this earth to do right by each other?

When one of your Primerica reps call stating they are interested in offering me a position based on the strength of my resume (found on an internet job site), please make sure they have actually seen the resume. I never finished updating it with info on a new position I started in June. In fact, since I wasn't sure how I wanted to describe my job, I left ??????? under the job title. Also, teach them that the word is pronounced re-su-mey not re-zoom. Honest to God, that's what she said. Real impressive.

Quoting:

"...the system does work." For whom besides the fat cats? Prove what you say by documentation, otherwise you're a bunch of hot air.

"SO it really is up to you what you decided what to do with the opportunity." That's a laugher, what opportunity? What are the odds against anyone netting out $100,000 after business expenses? Prove it with documentation and numbers, otherwise more hot air (read all the reports on Ripoff Report and other websites regarding Primerica).

Paul from Anaheim tells it like it is and it ain't gonna get any better (BTW the grammar in this last statement is deliberate).

Those of you who complain about Primerica being nothing but a big hype machine that BRAINWASHES people, your missing the point. Primerica reps are very energetic no doubt, but it is not all hype. Everyone I have met are "hyped" because they are happy about what they have done other people. Not to mention that some people need the "hype" to keep them motivated. However, if "hype" is not your thing and you prefer to take the wheel and run your own show. Then, my friends, it is completely your own ignorance and small mindedness that can not see past the "hype" and still excicute the system. It may be easier to blame the company, knowing those that quit simply lack the self dicipline and motivation to make the system work. AND, the system does work. Several people have acknowledged knowing of millionare trainers. So who is really at fault.

I think anyone one who reads this can agree that when you really want something, I mean REALLY WANT IT, you will go above and beyond what you normally would to do to achieve whatever the goal was. How many of you can say you gave Primerica the same effort. In all my experiences so far every trainer I have spoken with has said it is possible to make millions through Primerica. However, they also said that Primerica is NOT a get rich quick scheme. You have to put in the time and the effort like anything else that you would want to be great at. It could take months or years depending on how much YOU put into it.

SO it really is up to you what you decided what to do with the opportunity. Squander your $200 by complaining about too much hype, or let the people who need the hype have it and take matters in your own hands. Oh yeah, if you can think of any millionare business people who got there from expecting the company to do everything for them, reply to this so I can meet them. I want their secrets.

There is only one way to make a good income from the primerica scam. I'll explain it to you so that you understand what is involved. For those of you who do not want to get caught up in this scam, pay attention so that you will know what to avoid.

The only way that you will ever make money by selling primerica and citi products is through recruiting. You must learn how to recruit new members and get a list of personal friends and extended family members from each person you recruit.

You can NOT expect to cold-call anyone and expect them to purchase the trash that citi and primerica will provide for you to sell. One big reason is that the products are much higher in price than the things other companies sell. All the customer would have to do is call around and get a rate comparison. Once they see how much primerica's policy is in relation to others, you can forget about that sale.

And, you can't expect to sell to strangers for one other important reason. The internet. Any potential client who checks the internet will end up right here. Google primerica. This is the number two listing, right under the primerica site. How will you explain that away? Hell, if you go back, the potential client will run you off with a pitchfork!

So, you can forget about selling the trash to strangers that you meet. Forget this networking crap that primerica will try to tell you after you join up. That's all crap designed to get you to quit.

You see, this company's whole marketing scam is very simple. First, someone cold-calls people off internet job boards like Monster. The idea is to tell them any kind of bullshit in order to get them to a meeting. You lie and tell them of this great job. Big opportunity. Big money. Financial freedom. Do whatever you have to do. They don't go by any rules. The sky is NOT the limit. The goal is get new suckers to the meeting any way you can.

Once they show, the people at the meeting will run the con from there. All you do is sit back and smile and say a few amens. Talk up the big opportunity. You need to hook the suckers right there and then. You will need each person you recruited to make that all-important list of contacts. They call that their warm market.

Once you got a handful of suckers lined up, you are ready to go out and hustle. Call the numbers from each of the warm market lists. Set up in-home appointments.

Next, prime your stooge. That's the new person you recruited. Make sure he or she is totally under the ether. Make absolutely sure that they are going to sit there beaming with pride and joy the whole time you sit there and run the con on their warm market client.

I cannot stress this enough. When you get to the home, the first thing you want to do is talk up the stooge. You need to be sure the client is going to back the stooge 100%. When it comes time to buy, you need the client to lay down and sign their life away. The only way that they will do that is if they are thoroughly convinced that the stooge is going to benefit.

The FNA crap should do most of your work. But, you will need to do your part, too. You will have to be able to sit there and work the con. You better have sales skills. And, you better understand how to handle objections. And, you d**n well should understand buying signals and the psychology of sales and influencing people. If you're a dumbass who flipped hamburgers all his life, you ain't gonna win in this scam.

Your goal should be $250 in commissions every sale. Some laydowns will give you more. Some cockroaches won't be able to refinance anything. So, you need to really push every opportunity you have to the limit. That will require you to ignore everything that is decent and human within yourself. No morality, only sheer profit.

Clearly, you ain't gonna be helping anyone. Instead, you will be loading them up with one high-priced piece of crap after another. Whatever citi and primerica offers, you must sell.

And, you need to work the con too. You must be able to go in and get the client to believe that you are there to save them from debt and to plan for their retirement. The FNA will go a long way, but you need to add a generous helping of your own sales skills in order to really sink the hook in the sucker.

Make sure your stooge plays the part. That's vital. People will be naturally suspicious of you, the stranger. So, you will need the stooge to back you up 100% on everything you say.

After you do one contact from the warm marker, work the stooge some more. Keep them in the ether. Point out to them just how easy this is. Keep them focused on the money that they just sat there and watched you make. Correct them if they did anything wrong. You need to have your stooge chiming in at the appropriate moments during the sale. Key areas are in the larger commission products. You want the stooge to reinforce how the client will be out of debt so much faster. You need to push for a retirement account. Done right, the stooge can be a real asset to you.

Now, work each and every one of the stooge's names from their list. Then, ask them to come up with more. Once you have exhausted everything the stooge has for you, kiss them off. But, do it nice. First, you may have a desperate loon there. He may come back and bring his friends, smith and wesson to help teach you some morality. Or, he may go back and unwind all your sales. So, wake the stooge up out of the ether slowly and carefully.

Offer the stooge something. Show them how to network. Give them a list of 25 opening lines that they can use in restaurants. Naturally, they don't have a chance in hell of selling anything. So, they will fail on their own. You need to be ready to offer them moral support when that happens. Eventually, they'll reach a dead end and simply go away peacefully. That's the correct kiss-off.

You do not want the stooge to recruit. There's only a limited amount of suckers to go around. You don't want to share them with anybody.

If you make a $250 commission from each appointment, and you do 2 a day, you should gross $500. You work 6 days a week, for a maximum of $3,000 a week. Now remember, you won't sell everyone. And, you will need to learn how to handle and minimize your chargebacks. You need to keep every one of your clients, so you're going to have to call them from time to time and refresh the con for them.

In the mornings, before your appointments, call new recruits and line them up for the next meeting. Remember, without those warm market lists, you're out of business. And, another thing, watch your attitude. All the primerica senior people understand the con as well as you do, maybe better. But, nobody talks about it openly. Everybody pretends that they are actually helping people. So, you do that to. The losers at primerica are just more marks that you need to run the con on.

And, don't let anybody know your success. Make it sound like each commission is the only one you ever made. For god's sake, share nothing with the other agents. Make it sound like you are selling little or nothing. Don't come in whooping it up. And, whatever you do, don't buy a new car. Drive junk. That's will show clients that you aren't making big commissions. Make the client feel superior to you. After all, you're on a mission to make it look like you're helping them, not raping them for everything they have. So, never look like you are making big bucks.

Needless to say, when you first go into primerica, don't give them anyone to rape. Tell them you don't have any friends. Tell them you were homeless. Or recovering druggy. Better yet, offer them dead ends. Make a list of local merchants and shop owners. Have this prepared in advance. You don't want to give them anybody real, because you know good and well what is going to happen to them.

This is what you will have to do to be successful at primerica. It's a disgusting con. You're not helping anybody, you're simply loading them up with high-priced trash from citi and primerica. They won't be out of debt any faster. In fact, you have just pimped them off to citi, a company that has the morality of a child pornographer.

I'll be perfectly honest here. This is a disgusting, sickening con. You will have to look clients in the eyes and lie to them. Small children will be sitting there while you rip off the parents. The wife will offer you her hospitality. Little does she know what your true intentions are. The husband will look you in the eye and ask you to honestly tell them if your products will really help them. You will have to lie.

I couldn't do this s**t. Sometimes you will go into the home of a single mother. Young. Trusting. Struggling to make a living for herself and her daughter. She has hopes and dreams for a better life for herself and her little girl. It would be nice if you could offer her that. But, instead, you only can sell her citi-trash.

I couldn't do that. It's a heart-wrenching, soulless way to make a living. People will depend on your advice. And, you will have to knowingly turn around and cheat them.

I'm hoping that you won't be able to do this either. It's an utterly despicable way to earn money. Yet, this is exactly what goes on day after day at both primerica and citi.

May god have mercy on your soul if you are so morally bankrupt as to actually consider something like this!

I am the owner of a small dumptrucking co. in Atlanta, Ga. A former employee of mine was approched by a neighbor that was involved in a high level with Primerica. Over the next few months his pitches to me were relentless on how much money i could be making if i would just come to one of these meetings. On one occasion i had this employee with me when we pulled over to help a woman stranded on the side of the road with a flat tire. The lady politely asked both of us what we did for a living. I told her i owned a trucking company my employee then told her that he helped make people financially independent!!! HA HA HA At that moment she looked at me and we both considered holding hands and leaping into oncoming traffic!!! I guess she knows a scam when she sees it!!!
Ed, Atlanta, Ga

PLEASE YOU PRIMERICA PEOPLE ARE LIKE A CULT OF TRAINED SEALS. I KNOW WHAT I EXPERIENCED AND I KNOW I WENT INTO THIS WITH A CLEAR MIND AND CONSCIENCE. I WAS DECEIVED TWICE BY THE RECRUITER TO DRIVE 48 MILES TO THIS OFFICE JUST TO BE LIED TO AND VERBALLY ABUSED. SO PLEASE SAVE ME ALL THAT CRAP ABOUT GOING IN WITH A PRE-SET OPINON AND ATTITUDE. I HAD NO IDEA WHAT THIS COMPANY WAS ABOUT BEFORE I GOT THERE.

PRIMERICA IS NOT THE ONLY COMPANY SELLING THIS TYPE OF PRODUCT AND THEY ARE IN NO WAY OFFERING THE BEST PACKAGE OR PRICE.

I THANK GOD HE GAVE ME A BRAIN AND THE ABILITY TO DETERMINE FOR MYSELF WHAT IS RIGHT OR WRONG FOR ME.

MY COLLEGE EDUCATION HELP ME SEE THROUGH ALL THE BULLSH*T AND THE FACT MY STEPFATHER WAS INVOLVED IN AMWAY ALSO HELP ME REALIZE WHAT WAS REALLY GOING ON.

PRIMERICA PREYS ON PEOPLE'S SYMPATHIES, VULNERABILITIES, HOPES AND DREAMS.

IT'S FUNNY HOW ALL THESE PRIMERICA AGENTS HAVE TIME TO RESPOND TO RIPOFF REPORTS. SHOULDN'T THEY BE SOMEWHERE SCAMMING MORE PEOPLE TO JOIN THEIR ORGINIZATION?

If you think no one here has complained about the products, you haven't read too many posts. There have been many discussions on the products and philosophy of PFS. So let's get into the products and the one size fits all approach.

But first, I want to correct you on your terms. You mentioned in another thread that you are an independent agent. You may be what PFS likes to call an independent contractor, but you are not an independent agent. You are a captive agent. You can only sell what PFS allows you to sell. That is, you can only sell one term insurance product, one mortgage product, a couple of variable annuities, one long term care product and mutual funds offered by PFS Investments Inc. You use the companies FNA software that you have to pay a monthly fee to use and you have to pay a subscription to use the company web site to track your business, as well as paying for any product brochures you use.

An independent insurance agent can write business with many different insurance companies so he can offer a wide range of products such as; all types of life insurance not just one, a wide variety of annuities (fixed, equity indexed, variable and immediate), long term care and disability insurance. Since an independent agent has this freedom, he can shop around for his clients to make sure they have the best mix of products at the best value for the client. I, as an independent agent, can use web sites of all the companies I represent to track my business for free. All the insurance companies I deal with send me product brochures for free. All of them offer teleconference training as well as educational conferences for free. I get financial planning and illustration software for free. You see only PFS charges their agents for all these things.

So much for that distinction, now let's talk about products. The term life insurance you sell is one of the highest priced on the market. You'll probably say that it's because of all the great features like renewable to age 95, accelerated benefits for the terminally ill, waiver of premium etc. Well almost every other insurance company offers all this as well as a better conversion option. The variable annuities you sell are poor products with a guarantee that after 10 yrs you'll get at least your original deposit back. I sell VAs that guarantee that your money will double in 10 yrs no matter what the market does.

The SMART loan is not better because of the daily average balance calculation you use. Most mortgages use a monthly average balance interest calculation. So the interest is calculated only once per month, no matter how many payments you make.

Let's use some numbers.

A 250,000 mortgage for 30 yrs at 7% Monthly average balance compounding
Monthly Payment 1663.26
Interest paid 348773.60
Duration 30 yrs
Total cost 598773.60

Here is the same loan with bi weekly payments of 831.63 and the same monthly average balance compounding

Bi weekly payment 831.63
Interest paid 258957.56
Duration 23.49yrs
Total cost 508957.56

Now since you say interest does not matter and that the SMART loan daily average balance and bi weekly payments are what makes your mortgage different, let's say that the same 250,000 loan with bi weekly payments and daily average balance compounding with an interest rate of 8%. Now you will tell me that your loan should be less expensive, right? Let's see.

250,000 at 8% Bi weekly payments, daily average balance

Bi weekly payment 906.07
Interest paid 305514.84
Duration 23.49 yrs
Total cost 554514.84

You can see that since the interest rate is higher, the payment must be higher in order to pay off the loan in the same 23.49 yrs and that the total cost of the PFS loan is 45557.28 more expensive than the standard mortgage with bi weekly payments.

So what is the conclusion? Interest rate matters more than the interest compounding method used.

You can get a trial version of a mortgage calculator and do this yourself, don't take my word for it.

The problem is that PFS reps get no real education in financial strategy or the uses of life insurance, if fact why don't you ask PFS if you can take the series 65 test to be a registered investment advisor and then earn your CFP. They'll tell you not to bother and they won't allow you to put those designations on your business cards. PFS is the only financial services company that I know of that discourages the advanced study of finances that every other company encourages.

You wrap up all this incomplete knowledge and mediocre products into a one size fits all financial plan. Does one thing ever work all the time for every person? Is an inflexible plan the best way to handle 20-30 years of finances? What if the theory of decreasing responsibility didn't work for someone? And here is a news flash; it almost never works because it is a perfect case scenario and we all know the world is not perfect.

It's not just perspective that makes PFS a poor choice for a financial services company, it's their poor strategy implemented with mediocre products that makes it a poor choice.

Raquel,

I am sorry to hear that your experience with Primerica was not satisfying. Let me suggest that you went into your interviews with your decision not to join already made. The animosity exhibited by the interviewer was his frustration of knowing you were simply using the situation to vent your own hostilities. In short, you felt duped by Mary Kay; you feel your father was a patsy of Amway; so you took revenge upon an unsuspecting victim at Primerica. Deep within your heart you know you created your own bad situation. You acted unfairly at the interview. Now you seek the validation of a handful of likeminded strangers at this website to appease the guilt that dwells within your subconscious.

The underlying purpose for education:
Let us not forget that a college education does not teach a person the details of a successful career. There are so many people looking for good jobs and opportunities that not everyone can have them. Face it, not everyone can be the boss. Most people are destined to be the laborer.

Obtaining your college education was simply a means by which to separate you from the average person. And, employers use college educations as a way of sorting through applicants. It is difficult to properly consider every candidate when 100s of people apply for a single position. Employers require college educations for certain jobs simply to narrow the candidate pool to a manageable level the higher the demand for a position, the higher the education requirements. Requiring a college degree is an arbitrary means by which the employer makes the hiring process more manageable; and obtaining a college degree is a means by which you make yourself more marketable to employers.

A college education does not prove that one is more intelligent than the next person. It simply means you persevered through an additional right of passage. Your own writing proves this. You said you countered the recruiter's arguments with your own common sense. Common Sense, the generally understood wisdom of the masses, is an anti-intellectual term used to reject academic hypotheses and scientifically reasoned research. A well educated college graduate would have argued that her insight, based on sound academic reasoning, saw through the deceptive commonsensical postulates that the recruiter used to induce the masses. Instead, your complaint suggests that a recruiter seeking college graduates communicated at a level that was misunderstood by mere common sense.

Consider the puppet:
Primerica is on-the-job training. You, too, would have been encouraged to recruit individuals that you felt would do well as Primerica representatives had you become a part of Primerica. Although you may have invited people in for interviews, your lack of experience would have made it difficult for you to conduct the interview. Thus, you would have had your manager conduct the interviews for you until you felt comfortable enough, and informed enough, to conduct the interviews yourself.

Where ever you work now you do not know it all. Many decisions you must rely on your supervisor to make. It is arguable, then, that any subordinate is the puppet of her supervisor. It could also be argued that business could not operate correctly if employees refused to act as puppets by subordinating their decision making processes to the superior. To argue the positive or negative view of this superior/inferior relationship is simply one of personal perspective you will argue positively in behalf of the process in a situation that you support; so it is hypocritical to mock the process simply because you did not like the situation. It was very disrespectful towards your recruiter to refer to him as a puppet; especially when you are willing to subordinate yourself in a workplace environment too.

You said you have a college education; this suggests that your recruiter is focused on competent, well qualified recruits. So, your complaint actually praises your recruiter's efforts.

Pyramids:
All hierarchies are structured as a pyramid. There is only one at any top; and there are many destined to remain at the bottom. Pyramid scheme, however, is the colloquial term for what in financial circles is known as a Ponzi scheme, which is named after Charles Ponzi. One person at the top makes a lot of money, while each successive level is partially paid off by the subsequent level. Early participants continue to make money until an additional layer cannot be added. The system then collapses, leaving the bottom layers cheated out of their money.

Ponzi schemes start with one person, or a small group of people. They continue to add additional layers of investors. A corporate hierarchy has one CEO, or a small group of directors. They have successive layers of business associates below them. The appearance of a pyramid does not mean a pyramid scheme exists. Below my grandparents are five children and their spouses. Below them, each family has an average of four children, which is a generation of some 20 cousins. A family tree looks like a pyramid too; but it does not follow that your family is a pyramid scheme out to cheat the subsequent generation because you are in the bottom layer.

MLM [Multi-Level Marketing]:
Primerica IS a multi-level marketing program. What is wrong with that? An MLM is simply a method of marketing a product. And, any marketing course at any university will teach you that MLMs are the lowest cost means to market a product, and among the most efficient marketing methods.

Primerica is often compared to Avon, Tupperware, and even in your case Amway and Mary Kay. Instead of selling beauty supplies, cleaning solutions, or plastic ware, Primerica offers financial products. Selling a product through a network of independent dealers is not a bad thing. Avon is not evil for using the MLM method, nor is Tupperware. So, why is Primerica? I never hear that Citigroup's financial products are bad products because Primerica brings these products to the kitchen table of the average, hard working American. The only criticism is that of recruits that want a job in an office.

You, and the few individuals that perpetuate most of the criticism against Primerica at this website, do not complain about poor products, which is the intended purpose of this website.

You complain that you went to an office in search of an easy office job with high pay; only you found out the position was actually for selling within an MLM network. You dream of being rich and famous, which no company has allowed you to fulfill. But, you are angry with Primerica because you hoped it would be the vehicle to your success. Your anger at Primerica is actually the misdirected anger that you felt towards these other companies.

I wonder where you work now. And, I wonder if any of your current colleagues have considered buying a home, or refinancing the one they have. I wonder if any of your colleagues need additional life insurance. I wonder if any of your colleagues would like to make some investments in preparation for their future. Just as someone passively offering Avon products to her colleagues, so to does the typical Primerica representative offer financial products in his workplace on a part time basis.

The successful Primerica representative simply lets his colleagues know what he has to offer. In time, his colleagues come, or refer friends or neighbors, when a need arises. Primerica representatives are no more loan officers in a bank than are Avon representatives beauty experts in a high priced department store. Primerica reps and banking personnel may perform some similar function, just as the Avon rep and beauty expert perform similar functions. But, one works within an independent MLM structure; the other within a corporate hierarchy.

The only thing that makes Primerica bad is the individual's perspective, which the individual controls. This says more about you than it does about Primerica. To you and the few others that continue negative comments against Primerica, Primerica is bad because you choose to view it in negative terms. Your conscious decision to view things negatively reflects your views of your own life. Primerica did not make you negative; but your latent negativity tries to make Primerica negative.

Raquel, I'm truly sorry you feel that way about Primerica. I have been an independent contractor with Primerica for almost 2yrs. First of all, if you are looking at the opportunity as a JOB then that's incorrect.

It's a business ownership opportunity for people who want an unlimited income potential and a chance to own their own business for a $199 which is reimbursable. By the way part of that $199 goes towards your state licensing from the Department of Insurance which is issued to you.

So if you want to take your college degree and work 9-5 and have salary caps then that what's you should do. I too have a college degree but I can honestly say that it hasn't earned me anymore money then the guy in the next cubical. Good luck to you.