Complaint Review: Primerica - Duluth Georgia

EDitor's Comment: Rip-off Report Investigation: Primerica gets a POSITIVE RATING in customer support from Rip-off Report and is fulfilling its commitment to provide excellent customer service. Primerica pledges to resolve complaints and address representative issues. For a long time this EDitor had concerns about Primerica because of the number of Reports about them. For many months Rip-off Report was looking into the company, even before they contacted us to resolve any issues and mostly misunderstandings being posted by competitors. With over 100,000 representatives and 6 million clients, Primerica is bound to be the subject of a certain number of complaints about improper agent conduct, as well as product and administrative complaints. Rip-Off's investigation found such complaints, but importantly also found that Primerica is committed to resolving such complaints quickly and doing everything possible to satisfy its clients. It also takes appropriate action against any of its representatives who are found to have conducted themselves improperly or unethically. We believe that the number of complaints against this company, whether through the Internet or other channels, is small when put into the context of its enormous size. Most big companies would never commit themselves like Primerica has. Read our investigative Report and Primerica's commitment to 100% consumer satisfaction. www.primerica.com provides products and services through independent representatives. Primerica www.primerica.com has more than 100,000 licensed representatives who serve more than 6 million clients in the U.S., Canada, Puerto Rico, Spain and the United Kingdom. Through a Financial Needs Analysis www.primericafna.com, the companys representatives provide a snapshot of a familys financial picture and suggest a strategy for financial security via Primericas products and services www.primericafinancialsolutions.com. Primericas business opportunity is attractive to people from many different backgrounds, including women www.womeninprimerica.com, African-Americans www.primericaaalc.com, Hispanics www.primericalatino.com and young adults www.generationprimerica.com.

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As a 19 yr. veteran, here's the other side of the coin. I raised my family in the A.L.Williams/Primerica business. I must say for the most part it was good, very good to me. I had achieved the next to the highest level, NSD, and had earned "the Ring" both in A.L.Williams and Primerica. I had won virtually every trip my last 3 years with Primerica. I was not a dull, disillusioned, frustrated, dad-gum crybaby. I had one of my best years in 2002. Now, for page 2! In November 2002 I found out that Travelers Life, a member of Citigroup, was selling a policy for $178 a month that Primerica sold for $361 a month. Identical coverage and term, just a different company. I had already been wondering what happened to my securities commissions. In 1985 with A.L. Williams I received 73% of the GDC (Gross Dealer Concession)and now I was only getting 57%. With Primerica there was no possible way I could ever get even back close to what I had in 1985. These things and a few others I won't mention now caused me to consider moving to another company that was closer to the company I joined in 1984. One where the agents were not captive as they are with Primerica. A.L. Williams agents were not captive till Art Williams sold the agency to Primerica in about 1989. Since leaving Primerica here's where the rub comes in. They have wrongfully accused me and others of violation of our agreements just to run up our legal bills. They have verbally, through their attorneys, threatened to bankrupt several former PFS VP's just to intimidate others from jumping ship with us. They have required agents to sign agreements that are much broader than the one's signed upon recruitment under the threat of lawsuits till the agents spends $50,000. This is exactly the amount that one PFS attorney said, in front of the former agents attorney, they don't even care if they have witnesses hearing their threats. All I would say to anyone wanting to join PFS, is great, go ahead, but if you do become successful and for some legitimate reason want to leave and work for another company you think is better, watch out, these guys are not honest, they will accuse you of things that you did not do. They will interpret your contract to fit their definitions, not those of normal minds. And if you want to fight them, bring your bank account, they will frivolously lawsuit you to death. They will accuse you of not competing fairly because you have had years of experience in PFS. That's not your fault. They will try and use the very same tactics that the Whole Life industry tried to use against A. L. Williams. They will talk about the money they spent to develop clients, come on, any of you know that they, Primerica, have ZERO expense in developing clients, it was your license you paid for, your car your paid for, your phone you paid for, your gas your paid for, your office you or your VP, paid for. They didn't provide leads, nothing!! Yet their contracts say they own the clients and your recruits. You never will own anything really, at least not like you might own a car, house or other business. I did not put my real name and address due to currently being involved in litigation with them. If anyone knows anyone that can give help or advice to stop their nickel and diming me to death it would be greatly appreciated. Has anyone ever challenged their contracts, when, where, court? I am in contact with local media who wants to run a story especially after all the hub-bub with Smith-Barney, and also with the department of Insurance to see if they can help. If you know any insiders that would like to help answer back. Bud Somewhere, Tennessee
U.S.A.