Complaint Review: Primerica - Alanta Georgia

Steve, It's no surprise that you regret every WH policy you've ever sold. It's because you really didn't know what you were doing to begin with. But don't feel bad, it's all in how you were trained and what you were taught about it. If you really regret every WH policy you ever sold, then what you've been taught about insurance and trained to do has been largely false and inadequate. This notion that you have to DIE in order to get any benefit from insurance is severely flawed. I hope you're not still selling insurance, because it sounds to me like you're selling your clients down the river, just like Primerica.

December 29,2005 8:31AM (EST) I invite everyone to look at my thread, PRIMERICA REPS, HERE IS YOUR CHANCE TO PROVE ALL OF US WRONG, UPDATE: The Plain, Unvarnished Truth about Primerica THE MLM OF THE FINANCIAL MARKET! https://www.ripoffreport.com/view.asp?id=165069 I have compiled some good information and I dare the Primerica reps to respond.

Primerica saved you $52,000 on your mortgage. was that NET after your expenses for a new loan which was ONE-HUNDRED PERCENT UNNECESSARY? You don't need BI-WEEKLY payments to cut your mortgage from 30 years to 20 years. All you have to do is add 8.33% to your principal and interest amount to each payment. Do the math...it will end up reducing the length of your loans almost exactly to the day as a bi-weekly program does. You could have saved your $52,000 PLUS another $6-7,000 in loan expenses by knowing 6th grad math! Primerica feeds on people like you.

Primerica saved you $52,000 on your mortgage. was that NET after your expenses for a new loan which was ONE-HUNDRED PERCENT UNNECESSARY? You don't need BI-WEEKLY payments to cut your mortgage from 30 years to 20 years. All you have to do is add 8.33% to your principal and interest amount to each payment. Do the math...it will end up reducing the length of your loans almost exactly to the day as a bi-weekly program does. You cou8ld have saved your $52,000 PLUS another $6-7,000 in loan expenses by knowing 6th grad math! Primerica feeds on people like you.

WTG Stuart!!! I think the only ones who actually make money with Primerica are the ones who are paid to watch this site and post rebuttals, lol.

"number two, it IS an MLM business. those of you who don't want to admit it are waging nothing more than a semantic debate. it's like saying, "it's not that we can't do X, but that we won't do X." different words, same results. however, when you get down to brass tax, all business models follow this method, they just don't reward you quite as well. people in the mid-levels of the RVP category are vastly better compensated, though, than those in what would be considered a middle management position." I would go beyond this and say that Crimerica is a pyramid-schemed company. Also very few companies are MLM in structure because most jobs are salaried where the income is guaranteed based on what you do for a living and not on what others do (Crimerica isn't). In terms of pay for all of the 108,000 reps, the average is just $5,000 a year with no benefits, but there are expenses (gas, wear and tear on the car and wear and tear on the agent who has to devote considerable time in an attempt to make ends meet). "number three, are you people from america? this is a capitalistic society. i mean, we make money off people's families for BURYING their dead! talk about something that should be a BASIC human service! they have point blank told me that not everything we sell is the best or the cheapest. the point is this, we are still giving someone MORE education than the last person they spoke with. why is term insurance a dirty word with many of the insurance agents? this i have researched myself and continually hear from every agent that term is "ok" to start with that they eventually want to roll it into something else, that will cost a higher premium. as i said, not everyone in every business is a crook, but they are out there. however, you cannot call someone a crook because they admit what they sell isn't the best you can get, but that it is still better than what you have. and ultimately, wouldn't we all rather do business with someone we trust rather than someone we don't know?" In a nutshell, Crimerica does bad business. I want my commission to be well earned where I know I'm servicing the public properly. "They are a part of CitiGroup. I hesitate to use the words "well respected" along with ANY financial institution, but they are one of the larger ones out there and did not get there by being openly crooked." Two things. There was Enron. Furthermore Citigroup has been heavily fined and is currently being pursued by the government in court. "Their CEO has een praised in many, many money magazine publications. This does not give validation to the company, but shows that there are some people in the money community who support what it is they are doing." Some of these publications have close affiliation with Crimerica and derive ad money from Crimerica/Citigroup. "don't build your case against primerica based on the bad dealings. look at the good they have done as well. if you are paying $100 a month for insurance, primerica offers you a higher coverage for $75 a month, but you can get the same coverage primerica is offering from your current agent for $66, who is the real crook? we all know the higher premium pays a higher commission. so you tell me, who is looking out for the consumer in this scenario? these are ficticious numbers, but you see where i'm leading. if term insurance is a rip-off in general, tell us why. if the SMART loan is a rip-off, based on what it offers, not what you are comparing it to, then explain why. same type of example:" Submit documentation to Ripoff Report proving this. "if consolidation loan A is a 30 year note at 6.25 APR and has a monthly payment of $800 and loan B from primerica is a 30 year note at 8.0 APR and has a monthly payment of $850, but your loan will be paid off 10 years early, who is taking better care of you? loan will have you paying $290k over 30 years, where loan B has you paying $205k over 20 years. is it possible to do the same thing at 6.25 APR? ABSOLUTELY! but why didn't Chase, or Country Wide, or Wells Fargo, or whoever tell you that when you sat down with them?" Based on one extra payment a year, give me a break. Again submit documentation to Ripoff Report. A warning to the shillers: if you keep this shilling up on Ripoff Report, my next posting is going to upset the fat cats to no end.

number one, if you joined this company, which is purely commission based, and did not expect there to be pressure to sell and recruit then the joke is on you. EVERY commission based income will have more than its fair share of ogres and dragons waiting to gobble you or your profits up if they get the chance. this is why it is important to have your meetings at your local office you are considering so you can meet the people who are going to be your "team". not everyone out there within this company is an unethical moron who thinks "the more in the dark they are, the better". number two, it IS an MLM business. those of you who don't want to admit it are waging nothing more than a semantic debate. it's like saying, "it's not that we can't do X, but that we won't do X." different words, same results. however, when you get down to brass tax, all business models follow this method, they just don't reward you quite as well. people in the mid-levels of the RVP category are vastly better compensated, though, than those in what would be considered a middle management position. number three, are you people from america? this is a capitalistic society. i mean, we make money off people's families for BURYING their dead! talk about something that should be a BASIC human service! they have point blank told me that not everything we sell is the best or the cheapest. the point is this, we are still giving someone MORE education than the last person they spoke with. why is term insurance a dirty word with many of the insurance agents? this i have researched myself and continually hear from every agent that term is "ok" to start with that they eventually want to roll it into something else, that will cost a higher premium. as i said, not everyone in every business is a crook, but they are out there. however, you cannot call someone a crook because they admit what they sell isn't the best you can get, but that it is still better than what you have. and ultimately, wouldn't we all rather do business with someone we trust rather than someone we don't know? finally, i will admit to some red flags myself. they aren't enough to drive me out, but they are enough to make me take a closer look at the company. they require 6 appts with YOUR family and/or friends to get you started with your training. when you have first started you have no liscenses, meaning the profits from anything sold in these meetings goes to your recruiter and not you. they ARE pushy at getting people to come to their "training", which does exist but always follows their propaganda meeting. to combat this, though, you have to consider a few things: 1. They are a part of CitiGroup. I hesitate to use the words "well respected" along with ANY financial institution, but they are one of the larger ones out there and did not get there by being openly crooked. 2. Their CEO has een praised in many, many money magazine publications. This does not give validation to the company, but shows that there are some people in the money community who support what it is they are doing. 3. If you foucs on the negatives you will find countless problems with every large corporation in the world. conversely, if you focus on the positives you will find plenty of reasons to continue to look on the bright side. they key is to ask what is improtant to you, and will this company meet your needs, desires, and fit with your own moral code? for instance, i cannot work in collections. i cannot call people up and demand their money or their car, or their money or their house. anyway you slice how the job done, this is where your base comes from. i can't be a car salesman either. not because they aren't honest, because the public lies far more than the dealership. it does require you to "play stupid" sometimes. i can't knowlingly "forget" information. to me it is the same as lying. don't build your case against primerica based on the bad dealings. look at the good they have done as well. if you are paying $100 a month for insurance, primerica offers you a higher coverage for $75 a month, but you can get the same coverage primerica is offering from your current agent for $66, who is the real crook? we all know the higher premium pays a higher commission. so you tell me, who is looking out for the consumer in this scenario? these are ficticious numbers, but you see where i'm leading. if term insurance is a rip-off in general, tell us why. if the SMART loan is a rip-off, based on what it offers, not what you are comparing it to, then explain why. same type of example: if consolidation loan A is a 30 year note at 6.25 APR and has a monthly payment of $800 and loan B from primerica is a 30 year note at 8.0 APR and has a monthly payment of $850, but your loan will be paid off 10 years early, who is taking better care of you? loan will have you paying $290k over 30 years, where loan B has you paying $205k over 20 years. is it possible to do the same thing at 6.25 APR? ABSOLUTELY! but why didn't Chase, or Country Wide, or Wells Fargo, or whoever tell you that when you sat down with them? this is america. it is not a crime to operate your business in a way that maximizes your profits. it is also not illegal to operate your business in way that focuses on volume selling rather than highest possible profit selling. someone out there is always willing to make you a better deal to gain your business. all you have to do is choose wisely...

An old friend came to my home with his partner to sell me some life insurance so I thought, it turned out they were trying to get my husband and me to join. To make a long story short, eventually I KICKED both of them out of my home. Needless to say me and the guy are no longer friends. But the funny part of this is his partner now works with me and has confessed PRIME ARMERICA is nothing but a RIP-OFF, scam whatever you want to call it. This comes from someone who was in a rather nice position within the company making way more money than he makes now. He says he can now sleep at night, think about it.

An old friend came to my home with his partner to sell me some life insurance so I thought, it turned out they were trying to get my husband and me to join. To make a long story short, eventually I KICKED both of them out of my home. Needless to say me and the guy are no longer friends. But the funny part of this is his partner now works with me and has confessed PRIME ARMERICA is nothing but a RIP-OFF, scam whatever you want to call it. This comes from someone who was in a rather nice position within the company making way more money than he makes now. He says he can now sleep at night, think about it.

An old friend came to my home with his partner to sell me some life insurance so I thought, it turned out they were trying to get my husband and me to join. To make a long story short, eventually I KICKED both of them out of my home. Needless to say me and the guy are no longer friends. But the funny part of this is his partner now works with me and has confessed PRIME ARMERICA is nothing but a RIP-OFF, scam whatever you want to call it. This comes from someone who was in a rather nice position within the company making way more money than he makes now. He says he can now sleep at night, think about it.

Every PFS rep I see on this board deflects criticism by saying "I can't be responsible for another rep" or " My office doesn't work that way". When the fact of the matter is that you are representing the same company, receiving the same "training" and selling the same products. If your own company can't enforce standards of compliance then that is one more reason to not see a PFS rep.

Skull Pilot, you are right bad advise on that rep and his RVP should be monitoring that...... I had a similar case, but in NY the insurance industry has more stipulations that are tedious but help to prevent situations like that. I can't make up for those offices that don't monitor their business.... wish I could.. Maybe I lucked out with having a little more direction and also the need to look outside and apply all my knowledged gained. And Jay I personally think real estate is a good comparison, and you are right they both are cut throat, but doesn't have to be ruthless!! I have had to be very careful with my team, I don't want Dept of Insurance, NASD, or Banking Dept on my a*s...... and if anyone presents the opportuinity as GET RICH QUICK they are absolutely WRONG! There is a learning curve and for most it takes 2 - 3 years... And the company has been making an aggressive stance to push for securities licensed agents... because of what has been happening with a bunch of happy life agents and not doing what's right.. I had to turn down IBA's because no matter what I have explained to people ... they still think it is a JOB or rather a salaried job.... But I don't want to keep going around and around .. I just want to do what is right for clients and potential recruits and hope for the best..... I still think network marketing can be a great way to get your foot in the door of a business opportunity.... but it is just a stepping stone to do some other things in life... And is does seem that people are more angry at the recruiters out there.... or rather the recruiting tactics of some of our agents..... I wish they would just do it right...

Skull Pilot, you are right bad advise on that rep and his RVP should be monitoring that...... I had a similar case, but in NY the insurance industry has more stipulations that are tedious but help to prevent situations like that. I can't make up for those offices that don't monitor their business.... wish I could.. Maybe I lucked out with having a little more direction and also the need to look outside and apply all my knowledged gained. And Jay I personally think real estate is a good comparison, and you are right they both are cut throat, but doesn't have to be ruthless!! I have had to be very careful with my team, I don't want Dept of Insurance, NASD, or Banking Dept on my a*s...... and if anyone presents the opportuinity as GET RICH QUICK they are absolutely WRONG! There is a learning curve and for most it takes 2 - 3 years... And the company has been making an aggressive stance to push for securities licensed agents... because of what has been happening with a bunch of happy life agents and not doing what's right.. I had to turn down IBA's because no matter what I have explained to people ... they still think it is a JOB or rather a salaried job.... But I don't want to keep going around and around .. I just want to do what is right for clients and potential recruits and hope for the best..... I still think network marketing can be a great way to get your foot in the door of a business opportunity.... but it is just a stepping stone to do some other things in life... And is does seem that people are more angry at the recruiters out there.... or rather the recruiting tactics of some of our agents..... I wish they would just do it right...

Skull Pilot, you are right bad advise on that rep and his RVP should be monitoring that...... I had a similar case, but in NY the insurance industry has more stipulations that are tedious but help to prevent situations like that. I can't make up for those offices that don't monitor their business.... wish I could.. Maybe I lucked out with having a little more direction and also the need to look outside and apply all my knowledged gained. And Jay I personally think real estate is a good comparison, and you are right they both are cut throat, but doesn't have to be ruthless!! I have had to be very careful with my team, I don't want Dept of Insurance, NASD, or Banking Dept on my a*s...... and if anyone presents the opportuinity as GET RICH QUICK they are absolutely WRONG! There is a learning curve and for most it takes 2 - 3 years... And the company has been making an aggressive stance to push for securities licensed agents... because of what has been happening with a bunch of happy life agents and not doing what's right.. I had to turn down IBA's because no matter what I have explained to people ... they still think it is a JOB or rather a salaried job.... But I don't want to keep going around and around .. I just want to do what is right for clients and potential recruits and hope for the best..... I still think network marketing can be a great way to get your foot in the door of a business opportunity.... but it is just a stepping stone to do some other things in life... And is does seem that people are more angry at the recruiters out there.... or rather the recruiting tactics of some of our agents..... I wish they would just do it right...

You say more people would complain if they got bad advice from PFS, but the problem is that first of all the PFS sales force is so poorly trained and so thoroughly indoctrinated that they don't know that they are giving bad advice, second of all since the people you see are usually totally clueless about finances that they don't know you're giving them bad advice because a PFS rep conveys a fanatical belief that is easy for the uninformed client to mistake as knowledge. I'll give you an example of bad advice from a PFS rep. I sat with a guy who recently cancelled a Universal Life policy and got whacked with taxes because a PFS rep told him that he could make 12% on his money instead of 8% and that UL was the worst place to have money. What this rep did not take into account was that his client had a large policy loan outstanding as well as a considerable cash balance and he forgot to tell his client that the entire loan amount as well as most of the remaining balance would be included as taxable income at the end of the year. This PFS rep cost his client about $2500 in taxes that he wouldn't have had to pay if his rep knew what he was doing. Good advice or bad advice? I don't have a problem with MLM. In fact I think it is a viable model that does work. My biggest problem with PFS is that the reps are inadequately trained and cannot offer proper counsel to the public. My example above should illustrate that. As far as how PFS reps represent themselves, have you ever told a client that the FNA is exactly what a financial planner does only they'll charge you for it and we do it for free? Do you think that by saying that to a client he may think you are providing the same level of service that a financial planner does? Is that misrepresentation? You bet. When someone asks you what you do, do you say I am a commissioned insurance and mortgage sales rep with Primerica? Or do you say I am in financial services with a subsidiary of Citigroup.? The latter is a misrepresentation. I've gone into it over and over how a one size fits all strategy does not work. If you want to do it all over again, I'm game.

You seem as if you have an honest objective approach to Primerica, however, I think you cannot correlate the real estate market with Primerica. There are a lot of differences between the two, but like real estate sales, Primerica is a 'cut throat' business! As with the bad news about Primerica. When I searched the company name, I honestly found more sites condemning Primerica than I did praising them. Even wikipedia.org's, although an objective explanation, has negative undertones concerning Primerica. The only sites that were positive about Primerica were their own personal websites. In conclusion, B, if Primerica is working for you, then fine, have at it; it takes an interesting person to work for Primerica. I guess we're all just not into the multi-level-marketing-get-rich-quick-scheme thing; especially when it's fueled by lies, fraud, and deceit.

"But I think if it was bad, we would have gotten a lot more flack for bad advise...( Bad news spreads like wild fire)" Just check out Ripoff Report and I can give you other websites.

Hey Jay, First Off, let me say I appreciate your thoroughness and obvious honesty in the way you have been dealt with, and feel. I'm all for people seeking out more info.... Are you against all network marketing companies as a whole?...... I ask because my experience with Alan Lysaght (one of the authors of the ABC's of making money) was, they had researched 100's of network marketing/MLM companies over 20years, in search of disproving that any of them had any merit at all. I'm glad you recognised that primerica has been in a few good publications for the sales force, but wouldn't think that the sales force had some effect......... good or bad. But I think if it was bad, we would have gotten a lot more flack for bad advise...( Bad news spreads like wild fire) I personally was never told I would be a financial planner...... I was told we analyse families total finacial state, sometimes we can help sometimes not... And I will be honest, even I was horrified at the stories of people responding to ads for "personal assistants" and other things in the newspaper.... that is just plain wrong... And does not help those of us who feel a real obligation to help. And in response to the commissions paid out to the sales force..... Jay it's obvious the numbers are right when broken down Here is my take,.... just as in any industry of entrepenuers, I think the numbers work out just about the same....... real estate is a prime example most brokers are not million dollar earners but in the totality of real estate there is a lot of money paid, but not everyone gets paid and there are a lot of licensed agents and brokers, especially with the groth of that express class for $200... And even the breakdown in wealth in our country..... less than 5% of the population controls 90%+ of the wealth....... I will say that Primerica is not for everyone, but I think that if you atleast takes the financial concepts and apply them for yourself, wether it be with a primerica product or not you can become wealthy and that is what everyone would like, but few are willing to do what it takes to achieve..... Jay you sound like you have made the sacrifices early and found what you like and do it.... that is great.... and for those in Primerica that are misrepresenting yourselves don't do it it only hurts you and your business.

I only have one comment to you. I don't think I ever mentioned that the individuals who wrote endorsements in the various books mentioned in this thread were Primerica representatives. What I did say is that the authors of those particular books being quoted is making money and/or have a stake in the same industry as Primerica (multi-level-marketing, get-rich-quick-schemes, etc) that's why they are endorsing Primerica. They ARE NOT GOOD SOURCES OF INFORMATION, PERIOD! I am advising everyone to go outside of those books to find REAL experts and find out what they say about Primerica. To be honest, Primerica has been in some reputable magazine, but for their sales force, NOT THEIR FINANCIAL ADVISE. The reason is because, Primerica reps are salemen/women, not financial advisor. Primerica reps, look on your own website, under disclosures and you will find that out! IM DONE

This seems almost pointless...... Term is not for everyone but for lot of folks it is right, but never without an investment plan and then protect that investment( when the time and the resources are right) with long term care( in case of disability). In my experience with Primerica ( and have even heard the Co-CEO say this), Primerica has never claimed to be the cheapest term insurance, there are cheaper term insurance companies,... but it has been said is look at the stability and profitability of each insurance company, using sources such as weissratings.com( consumer driven)and even the latest ratings from Dept of Ins, is easily available. Wether you choose to belive or not the endorsements given to Primerica in certain books are third party, and not written by "primericans". Cash Value policies do serve their purpose but a lot of experts do agree that you will do better by seperating your insurance from your investments. And for those who fear mutual funds, that's smart when it comes to investing as a whole., however, mutual funds provide the small investor a avenue into the investing world with a lot of options in respect to risk, and any good HUMAN BEING giving advise needs to LISTEN to their client. Folks we invest with our companies through the 401k, 403b, pension, simple IRA,which in a lot of case are invested in some company stock or Mutual Funds, bottom line is doing what is right...... Primerica has formulated a culture for that, but nothing is absolute...... I don't know about you but the concepts make sense and no we shouldn't "cookie cut" every situation. The question is what is the alternative for folks who just want a chance?..... I don't care what network marketing company you try to work with ...... you need to do what is right when all is said and done ...... but people need a vehicle to start in. And most people are right search for the other avenues of information, but there are universal laws and truths, which if you violate ...... you will eventually pay the price.

Paul, Whole life is the #1 worst investment you can make. It has been proven time and time again. The numbers don't lie, AND anytime insurance and savings are mixed there is a problem. The whole basis of the scam of Whole life is that you overpay dramatically for the insurance and then you pay to get your own money back and they call it a savings account. I sold this stuff for many years and regret every policy I sold. The only winners on a whole life policy are the company and agent that sold it. And there are many different types of Term insurance based on the individual or family NEEDS. The worst term policy combined with the basic savings account would yield more than the best whole life policy. For the same money per month spent/invested. Do some more research, please.

Hi Glenn: This is a simple statement concerning the books that you quoted in your rebuttal, because I am tired of people quoting the same books in here. Find me a reputable financial advisor/consultant/expert, etc. (firm or company) who also backs these books and I might believe 0.00000000001% (divided by 100) of what is said on behalf of Primerica. ABC's of whatever book focuses on opportunities and strategies (you can avoid taxes using them I might addlol), such as Primerica's, in order to become "self-made millionaires". As a matter of fact they write in the introduction and I quote, "If you use the material in the book aggressively and are prepared to do some work, you should become wealthy fairly quickly. These are not 'get-rich-quick' schemes. Everything is 100% legal...The ABCs of making money (listen to this..lol) is designed for those without a financial background, and who know what they want and are prepared to take those initial steps (he really means risks) towards financial freedom." You tell me, why would he have to put that disclaimer on the contents of his book? Because he knows his book is based on just that, get-rich-quick schemes. Also, isn't that the same tag-line Primerica (or Crimerica; whoever came of with that colloquialism, Kudos to you!) uses? I think I heard, Primerica has been set up for people without a financial background to make a six-figure income in the financial services industry about 100 times by the district manager'. Basically, I am saying, it's just like Primerica reps writing books talking about how good of a resource MLM and Pyramid systems are. Use better judgment on the references you quote, please! These people, of course, have biased opinions. The authors that you speak of all have an invested interest in the MLM, sales, marketing, get-rich-quick-schemes, etc. industry. Try again!!!!

Allow me to share my own experience with Primerica. A few years ago, I was approached by a fellow who made his pitch about joining his "business" with CitiGroup. Of course, he wouldn't give me any specifics, but I listened to him anyway. He invited me to an "opportunity meeting". Since I was curious and it didn't cost anything except a bit of time, I gladly accepted. I ended up joining Primerica, because it looked like a really great deal. In the end, it was not, and it was my own fault for not investigating them more before I signed up. But those guys are very slick. They've got a very well-rehearsed and groomed presentation. They are all very well dressed, they were all very friendly, and they also have answers to every conceivable question you could have. I didn't consider it much of a risk, so I dove right into it. I got my Life Insurance license in Michigan, and started going to their training sessions, seminars, and other classes. I soon found myself under considerable pressure to generate a list of 100 people I knew, and I was told I had to give up this list. Then we started with the "KT" (Kitchen-Table) presentations. It's a very nice package, nicely done, basically lets you see all your assets/liabilities in a good, slick format. Primerica has a strategy which looks sound; that is, take out a home equity loan (from Primerica of course, with a high interest rate) to pay off your credit card debt, replace any existing whole-life insurance with Primerica term life, then use the rest to open a Roth IRA, set up monthly withdrawals, etc. If there is no equity in the house, then they come up with this scheme of paying off the high-interest credit cards first, then knocking down the rest. So instead of getting out of debt by the year 2045, you can get out of debt by the year 2016 (for example). Sounds doable. But I found some major flaws with the concept, after I looked at it closer: 1) Primerica uses this "cookie-cutter" format for all their KTs..........for everyone, regardless of where they are in their lives. They want to use the same strategy for young single people, older married couples with kids, etc. Different people at different life stages require different strategies. Primerica will try to convince you that all anyone needs is their plan and you're on your way to Millionaire Acres. It's not necessarilly a bad plan, what I'm saying is that it's just one tool you can employ for your total financial picture. And you don't really need Primerica's higher interest rates or higher-priced insurance. 2) All these people are doing is transferring their debt from one creditor to another creditor..........with the new creditor being Primerica. The problem is that people get into trouble with credit card debt because they overspend. Just how the hell are they going to discipline themselves to stay focused on Primerica's pay-off plan for years and years? They can't! And the big-wigs at Primerica know this. It won't be long before the same family is calling Primerica again for more "debt relief", as they're going to find themselves farther down in the hole. 3) Then there's the idea that Term is better than Whole Life. Pushing Term is the HUGE scam pushed by Primerica to make TONS of money. And they DO. For a 20-year Term policy, your premiums increase every year, and after 20 years, POOF it's gone! You've just paid a lot of money into something that's gone forever. I can't imagine anything more horrid than that. Now, the argument for Term is that you must have a large policy face value ready in case the primary breadwinner dies. Fine. But what are the odds that you're going to die? The odds are very low. In contrast, Whole Life premiums stay level. And the cash value grows tax-free. AND you can borrow money from the cash value at any time, all while the cash value grows as if the total balance is there. That's using your money in two different places at once, boys and girls...........just like banks do. But Primerica convinces people to give up their Whole Life policies for Term. Sure, you can get 3x the coverage at 1/3 the cost (initially), but you can do so much with a Whole Life policy while you're alive. And it WILL pay out to your beneficiary, when you turn 100, or you die, whichever comes first! In the end, you'll pay as much for term as you will for whole life, with the difference being that term pays your beneficiary nothing and then just vanishes. That's why Primerica is so rich.........the only time they pay out is when the policyowner dies within the 20-year term! 4) That whole theory of decreasing responsibility is a total load of BULL. Sure, as you get older and the kids leave, you don't have to pay for them anymore, but if you like to travel and keep your health insurance up, that costs a lot of money. So there really IS no "decreasing responsibility". Well, when I started pointing these things out and asking questions, I was essentially shunned. It was like I was attacking their religion. Don't fall for the Primerica scam. It's could qualify as a religious cult, and they have destroyed the lives of so many good people. I'm still waiting for a class-action lawsuit to be brought against Primerica. And it can't happen soon enough! I believe that the typical person off the street who joins Primerica believes the spiel that they're helping people. And they really do want to help people. But they have no idea what's really going on. The ones running the horror show are the ones high up making the really big bucks. The common person who joins Primerica is what Vladimir Lenin called "Useful Idiots"............those are folks who work to help you achieve your goals, but are really clueless as to what they're really doing. One chap here said that Primerica helped him grow from a boy to a man. That's great, I commend him for finding his motivation to improve his life. I believe that in his heart, he truly believes that he's helping people. I think he would be very distraught if he ever figures out that he's actually destroying people's lives. Primerica is a very bad thing, being sold as a basket of goodies. Don't fall for it. Just barely legal, definitely unethical.

Glen, I've done this before, but it seems I have to do it again. Now FYI, a SMART Loan is NOT a simple interest loan. It is an amortized loan with a daily average balance calculation. In other words, the interest on the loan is recalculated every time a payment is made. In contrast, most mortgages use a monthly average balance where the loan interest is recalculated only once per month no matter how many payments are made. PFS teaches its reps that the daily average balance and the bi weekly payments are what make a SMART Loan better than the average mortgage. Well here is an example. We will assume a $300,000 loan, no PMI, and closing costs and all other variables are equal in both loans. For a 30 year $300,000 standard mortgage at 7% interest using a monthly average balance calculation here is what you get: Monthly Payment = $1995.91 Total Cost = $718,527.60 Total Interest = $418,527.60 Duration = 30 yrs. Now if we use a bi weekly payment of $997.96 on this same mortgage we get: Bi Weekly payment = $997.96 Total Cost = $610,751.52 Total Interest = $310,751.52 Duration = 23.48 yrs. Notice we save $107,776.08 in interest by paying bi weekly. Now for your SMART Loan, and since you ay that interest rate does not matter we'll use 8.5% because SMART Loans are usually 1-2% higher than the average loan. Now we are using a daily average balance calculation and a bi weekly payment. Bi Weekly Payment = $1132.59 Total Cost = $693,145.08 Total Interest = $ 393,145.08 Duration = 23.48 yrs We see that because the interest rate is higher, we have higher payments in order to pay the loan off in the same 23.48 years as the standard loan with bi weekly payments and the total interest on the SMART Loan is $82,393.56 MORE EXPENSIVE than the standard mortgage with a lower interest rate. So now tell me how a SMART Loan is better.

hey glenn before i fully respond, please tell me about this license, does it let you trade stocks and investments? this is nothing more than a rip off. they tell you that its over $500 but this license is a fraud within itself, its just to make yout feel that you are doing something important. go to any major financial firm and ask them about this license, they will laugh at you

Hey Mike, where else could you get insurance licensed for $199?? SMART Loans are not just about high interest and squeezing in an extra payment via bi-weekly, they're about flexible repayment terms and putting more towards principle in order to get out faster. Primerica never says that you can't get the info that they share for free. It's just that most of the population doesn't take an active interest in finance, and PFS just shows them that it's more simple than they think. They told me that all the information was available at Chapters, or a library. Read a book. There's some good advice. Here's one titled "What All Stock and Mutual Fund Investors Should Know" by Bruce Sankin. There's an interesting quote on 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...One company, Primerica Financial Services, which is a division of Citigroup, offers the best value for a professional financial analysis." Interesting. Here's another one (an international best seller, actually) called "The ABCs of Making Money" by Dr. Denis Cauvier and Alan Lysaght. Let me quote 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...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." Primerica doesn't take advantage of anybody. They're there to help. You say go to the insurance companies, go to the banks. Insurance companies are still pushing Cash Value insurance, 90% of the death claims paid out last year were for less than $25,000. How long is that going to last a family? And people have been going to the banks for years, What's that strategy done for people? Consumer debt is at an all time high, savings at an all time low. Don't you think it's time to try something different?

YOU should be ashamed of YOURSELF. You are just another Primerica recruit who actually made it in this "business" because you enjoy ripping of other people just like you were ripped off once. You know better then I do that primerica makes most of their money selling useless insurance licences, for which they charge up front. I would much rather get an average man's salary every month and be stable financially then work for a ripoff joint that only pays you comission for STEALING money from other people. No decent employer will ever request a fee for signing up. In fact I beleive they must pay me personal damages for the time I spent listening to their useless babble about how crappy my current job is and how much better I could be with them. And even disregarding everything I just said, I will never work for or respect an employer who brings people in off the street and immediately gives them an interview, without even asking them about what their specialty is or whether they have one. That alone shows the quality of people that work for that company: people who have nothing to look for in life, except getting another $199 from a person with less then a $30000 income. I beleive that ripoffreport.com should delete this man's post. This site is to help people who have been victims of a rip-off not for people like him to praise his company because he benefits from other people mishaps.

THOUGH NOT totaly fake they are a bad enough deal. U can do better than Primamerica for pretty much all their services and even do it cheaper. But I also wish to point out another ripoff. primamericabuster is also a fake website in that they are unable to promote their own site about fighting primeamerica. Btw, most of what Primerica shows you u can get virtually free anyway.

If everyone who was cheated in some way by either primerica or citi actually sat down and wrote a complaint letter to the company, there wouldn't be enough paper to go around to print them all out! Every time you turn around, citi is involved in a new scam. That's how they make their trillion dollars each year. Scams, one right after another. And, primerica has at least 100,000 people every year who are deceptively recruited. Should all of them file complaints too? Now to mention all the fraud they have to use to sell their over-priced insurance policies. They claim to come in and teach you about finances. The truth is they just want to sell you something quick, before you have a chance to compare and find out what other companies are charging. And, this get out of debt plan they brag about? That's another one of citi's scams. They sneak in an extra monthly payment each year. When you make that extra payment, you can repay your mortgage many years earlier. But, citi charges way more than everyone else for that mortgage. They make it sound like they're offering you some great deal. But, if you had the chance to stop and compare, you'd see what a bad deal it really was. That's exactly how they make their trillions. Scams. Frauds. And deception. Cheating the customers every chance they can. Lying to people. Trying to make a bad mortgage loan sound like an ice cream sundae. Hey, I got no problem with anyone who wants to be an insurance agent. The world needs insurance. But, just not primerica insurance. They only sell scams designed to cheat their customers. They cheat the agents too. A typical commission can be as little as 10% of what a real insurance company would pay you. And, if are an agent for primerica, you most certainly WILL make your money at the expense of others. Where do you think your commission comes from? Santa Claus? There is no other choice. If you stay, you will have to learn how to recruit new people. And, then you will have to get a list of friends and relative from each new recruit. You will have to force the people on those lists to buy something. When you do go into people's home, you will have to sit there and lie to them any way you can in order to get them to buy something from you. You will never be able to give them an honest answer. If you ever tried to be honest, the customer would never buy the trash insurance. So, all you can do is lie. It's FAR from harmless. It's FAR from decent. It's a despicable way to make money. The people at primerica are no better than child pornographers. They use innocent customers any way they can. The only goal they have is to make a buck. And, they'll use every bit of fraud they can come up with to do that. It takes a certain type of person to work at primerica. You have to have no morals to stand in the way of your money. You have to be willing to lie and cheat anyone who comes along. Young or old, you will have to cheat them all. Not many people would sink that low just to make a living.

I recently joined Primerica. I have to say that I don't have any horror stories to tell. The person who introduced me to this program is an educated person who holds a Masters in Business. The person who recruited her has a Bachelor's in Economics. Moreover they are women I trust. Initially I was interested in doing the FNA and finding ways to climb out of debt and that grew to my being curious about the program itself. I went to a training session and getting recruits was not drilled into us as I've read in some of the reports. It has been interesting and helpful to read some of these reports. What I have noticed is that the issues being raised are more related to tactics. It seems that some individuals are clearly misrepresenting the overall view of the company. I would challenge anyone who feels like they were ripped off or fooled to contact Primerica directly and launch a formal complaint. I just want to drive this point home. You may not agree with Primerica and you may not believe in their products...but if they are the only vehicle for some to make extra money and keep afloat (provided that it is not at the expense of another) what really is the problem? I don't say that to be sarcastic. I truly am interested in knowing. As for me....well I'll keep you posted.

What does primerica do really? What do they produce? Do they feed the country? Or, build roads or schools? Do they help educate children and prepare them for the world? No! They do none of those things. Instead, they sell high-priced insurance to middle Americans who don't understand what they are buying. So, primerica comes in and pretends to educate them. In reality, that education is nothing more than a scam designed to get the customer to part with as much money as possible. That's not education. That's MANIPULATION. Primerica manipulated Americans into buying over-priced insurance. And, you primericans are proud of that? You actually think you're helping people? And, these citi loans that you speak so highly of. How do they actually compare to everyone else's loans? Don't they actually cost more? Wouldn't the customer actually have MORE money in their pockets if they got their loan from another bank? I think they would. The citi smart loan is probably the dumbest thing anyone could ever do. Let's face it here. Without some kind of fraud or deception, nothing that citi and primerica sells would ever stand up to the test of scrutiny. Again, I ask you. Is selling over-priced loans and insurance by using deception something to be proud of? Evidentially, you people at primerica seem to think so. Unfortunately, nobody else outside of the company seems to agree with you.

I am not the brightest person in the world but one thing I do know is that it pays to compare. You say Primerica saved you a lot of money but did you take the time and see how much more you could save if you were to go somewhere else. As far as term insurance goes with Primerica, they are not the most afforadable. Shop around and see what you can get. Seems like people take more time trying to figure out where they are going to go eat then to who does their finances for them. When you cancel your Primerica products repost the savings you recived from the new companies.

Lance, So you've joined Primerica? Good luck. Keep this board posted on your progress. There have been a number of requests from board contributors for a current Primerica agent to do that, but to date, no current agent has taken up the gauntlet. In the meantime, devote some energy to educating yourself outside the walls of the company. As a former Primerica agent, I suggest the following: Examine your mortgage closely. If you were told that "interest doesn't matter...look how much money you're saving," then likely you could save EVEN MORE if you refinanced to a lower rate, even with compound interest. Simple interest doesn't save that much, and usually doesn't offset the high rates Primerica refi's have. If you're paying more than 6.25 percent in interest, you're likely paying too much. Current traditional mortgages in Michigan for someone with good credit are still hovering at 5 percent or lower. Do some independent research to find out exactly how much you are paying in interest versus what you could be paying. And, as for the accelerated payment option -- it's not a Primerica exclusive. Virtually all mortgage companies offer one flavor of that program or another giving you the ability to reduce your interest even more. Don't rely on the figures Primerica gives you -- break it down yourself independent of any calculations derived from Primerica programs and really analyze where your money is going. Examine your term life insurance policy closely. It is likely costing you 30 percent or more than the same policy from another company. Read the policy yourself. Take the policy to another life insurance agent and have them examine it. Don't rely on your RVP to explain this to you. If you have decided that all other insurance companies are corrupt (common Primerica upline tactic), then ask your RVP for copies of competitor's policies and compare policies yourself. Remember, education involves gathering information from a variety of sources. You may find that your policy has no more "bells and whistles" than the next, but unless you seek that information yourself, you'll never know. Examine the mutual funds in which you are invested. Are they "A" or "B" funds? What are the 12b-1 fees? What are the administrative costs of the fund? What is the expense ratio of the fund? You'll likely need to get copies of the fund's prospectus and do some digging, but it's worth it to find out exactly how much of your money is actually staying with you. Actively seek the information yourself from multiple sources. Because the mortgage, insurance and investment industries are heavily regulated, there are a number of sources from which to choose -- private sector companies, government agencies, consumers. Read it all. You'll find lots of conflicting data, but if you stick with it, you'll end up better educating yourself, and in turn, you'll be better able to truly serve your clients. I am no longer with Primerica, as I found the company, upon closer examination, deceptive and unethical. The more questions I asked so I could educate myself and in turn better educate my clients, the more I was told it didn't matter. No one should be afraid of knowledge or of their associates and subordinates acquiring knowledge.

Lance, So you've joined Primerica? Good luck. Keep this board posted on your progress. There have been a number of requests from board contributors for a current Primerica agent to do that, but to date, no current agent has taken up the gauntlet. In the meantime, devote some energy to educating yourself outside the walls of the company. As a former Primerica agent, I suggest the following: Examine your mortgage closely. If you were told that "interest doesn't matter...look how much money you're saving," then likely you could save EVEN MORE if you refinanced to a lower rate, even with compound interest. Simple interest doesn't save that much, and usually doesn't offset the high rates Primerica refi's have. If you're paying more than 6.25 percent in interest, you're likely paying too much. Current traditional mortgages in Michigan for someone with good credit are still hovering at 5 percent or lower. Do some independent research to find out exactly how much you are paying in interest versus what you could be paying. And, as for the accelerated payment option -- it's not a Primerica exclusive. Virtually all mortgage companies offer one flavor of that program or another giving you the ability to reduce your interest even more. Don't rely on the figures Primerica gives you -- break it down yourself independent of any calculations derived from Primerica programs and really analyze where your money is going. Examine your term life insurance policy closely. It is likely costing you 30 percent or more than the same policy from another company. Read the policy yourself. Take the policy to another life insurance agent and have them examine it. Don't rely on your RVP to explain this to you. If you have decided that all other insurance companies are corrupt (common Primerica upline tactic), then ask your RVP for copies of competitor's policies and compare policies yourself. Remember, education involves gathering information from a variety of sources. You may find that your policy has no more "bells and whistles" than the next, but unless you seek that information yourself, you'll never know. Examine the mutual funds in which you are invested. Are they "A" or "B" funds? What are the 12b-1 fees? What are the administrative costs of the fund? What is the expense ratio of the fund? You'll likely need to get copies of the fund's prospectus and do some digging, but it's worth it to find out exactly how much of your money is actually staying with you. Actively seek the information yourself from multiple sources. Because the mortgage, insurance and investment industries are heavily regulated, there are a number of sources from which to choose -- private sector companies, government agencies, consumers. Read it all. You'll find lots of conflicting data, but if you stick with it, you'll end up better educating yourself, and in turn, you'll be better able to truly serve your clients. I am no longer with Primerica, as I found the company, upon closer examination, deceptive and unethical. The more questions I asked so I could educate myself and in turn better educate my clients, the more I was told it didn't matter. No one should be afraid of knowledge or of their associates and subordinates acquiring knowledge.

Lance, So you've joined Primerica? Good luck. Keep this board posted on your progress. There have been a number of requests from board contributors for a current Primerica agent to do that, but to date, no current agent has taken up the gauntlet. In the meantime, devote some energy to educating yourself outside the walls of the company. As a former Primerica agent, I suggest the following: Examine your mortgage closely. If you were told that "interest doesn't matter...look how much money you're saving," then likely you could save EVEN MORE if you refinanced to a lower rate, even with compound interest. Simple interest doesn't save that much, and usually doesn't offset the high rates Primerica refi's have. If you're paying more than 6.25 percent in interest, you're likely paying too much. Current traditional mortgages in Michigan for someone with good credit are still hovering at 5 percent or lower. Do some independent research to find out exactly how much you are paying in interest versus what you could be paying. And, as for the accelerated payment option -- it's not a Primerica exclusive. Virtually all mortgage companies offer one flavor of that program or another giving you the ability to reduce your interest even more. Don't rely on the figures Primerica gives you -- break it down yourself independent of any calculations derived from Primerica programs and really analyze where your money is going. Examine your term life insurance policy closely. It is likely costing you 30 percent or more than the same policy from another company. Read the policy yourself. Take the policy to another life insurance agent and have them examine it. Don't rely on your RVP to explain this to you. If you have decided that all other insurance companies are corrupt (common Primerica upline tactic), then ask your RVP for copies of competitor's policies and compare policies yourself. Remember, education involves gathering information from a variety of sources. You may find that your policy has no more "bells and whistles" than the next, but unless you seek that information yourself, you'll never know. Examine the mutual funds in which you are invested. Are they "A" or "B" funds? What are the 12b-1 fees? What are the administrative costs of the fund? What is the expense ratio of the fund? You'll likely need to get copies of the fund's prospectus and do some digging, but it's worth it to find out exactly how much of your money is actually staying with you. Actively seek the information yourself from multiple sources. Because the mortgage, insurance and investment industries are heavily regulated, there are a number of sources from which to choose -- private sector companies, government agencies, consumers. Read it all. You'll find lots of conflicting data, but if you stick with it, you'll end up better educating yourself, and in turn, you'll be better able to truly serve your clients. I am no longer with Primerica, as I found the company, upon closer examination, deceptive and unethical. The more questions I asked so I could educate myself and in turn better educate my clients, the more I was told it didn't matter. No one should be afraid of knowledge or of their associates and subordinates acquiring knowledge.

Lance, So you've joined Primerica? Good luck. Keep this board posted on your progress. There have been a number of requests from board contributors for a current Primerica agent to do that, but to date, no current agent has taken up the gauntlet. In the meantime, devote some energy to educating yourself outside the walls of the company. As a former Primerica agent, I suggest the following: Examine your mortgage closely. If you were told that "interest doesn't matter...look how much money you're saving," then likely you could save EVEN MORE if you refinanced to a lower rate, even with compound interest. Simple interest doesn't save that much, and usually doesn't offset the high rates Primerica refi's have. If you're paying more than 6.25 percent in interest, you're likely paying too much. Current traditional mortgages in Michigan for someone with good credit are still hovering at 5 percent or lower. Do some independent research to find out exactly how much you are paying in interest versus what you could be paying. And, as for the accelerated payment option -- it's not a Primerica exclusive. Virtually all mortgage companies offer one flavor of that program or another giving you the ability to reduce your interest even more. Don't rely on the figures Primerica gives you -- break it down yourself independent of any calculations derived from Primerica programs and really analyze where your money is going. Examine your term life insurance policy closely. It is likely costing you 30 percent or more than the same policy from another company. Read the policy yourself. Take the policy to another life insurance agent and have them examine it. Don't rely on your RVP to explain this to you. If you have decided that all other insurance companies are corrupt (common Primerica upline tactic), then ask your RVP for copies of competitor's policies and compare policies yourself. Remember, education involves gathering information from a variety of sources. You may find that your policy has no more "bells and whistles" than the next, but unless you seek that information yourself, you'll never know. Examine the mutual funds in which you are invested. Are they "A" or "B" funds? What are the 12b-1 fees? What are the administrative costs of the fund? What is the expense ratio of the fund? You'll likely need to get copies of the fund's prospectus and do some digging, but it's worth it to find out exactly how much of your money is actually staying with you. Actively seek the information yourself from multiple sources. Because the mortgage, insurance and investment industries are heavily regulated, there are a number of sources from which to choose -- private sector companies, government agencies, consumers. Read it all. You'll find lots of conflicting data, but if you stick with it, you'll end up better educating yourself, and in turn, you'll be better able to truly serve your clients. I am no longer with Primerica, as I found the company, upon closer examination, deceptive and unethical. The more questions I asked so I could educate myself and in turn better educate my clients, the more I was told it didn't matter. No one should be afraid of knowledge or of their associates and subordinates acquiring knowledge.