Complaint Review: Primerica - Houston Texas

What Stuart said is true. But I want to add to his comments above: Not only is the 'trainer' attempting to peddle Primerica products off on your family and friends, the 'trainer' is also attempting to recruit, probably from your family and friends, to convince them to join Primerica. What the trainer is trying to do is build his/her own little pyramid so they can earn commissions on what their recruits sell, if anything. And it is a pyramid, I defy anyone to say it isn't. When you have one person overriding commissions on several people, who are also overrriding commissions on several people each under them, Guess what it looks like? Yes, thats right.. a Pyramid. You have this: I- Level 1,someone at the top/what some hope to be III- Level 1 recruits, receive overrides of those under IIIIIII-Level 2 recruits and receive overrides of those under IIIIIIIIIII-Level 3 recruited by Level 2, same as above IIIIIIIIIIIIIIIII-Level 4, infinitum ad nauseum Yep, thats a pyramid all right. Obviously its in those at the top to push the 'recruiting' theme, otherwise they would make no money. Primericans will say one of two things: 1: It isn't true, Primerica is not a pyramid -This is called denial on their part. Sort of like one Primerica agent I spoke to said it was not an MLM company. Complete denial and complete ignorance of your company. 2. It is true, so what? -So what explains why Primericas products are much more expensive than the rest of the market. When you're paying commissions to 10 levels of pyramid, obviously you have to raise the cost of the product, and then have your agents misrepresent (intentionally or ignorantly) such things as "Interest Rates Don't Matter". This explains why their mortgage rates are subprime, two or more percentage points higher than even Citigroups. But the "trainer" who thinks he/she is a financial expert now despite being in the business for less than a year, has been lead to believe from his/her own trainer (again, infinitum ad nauseum) that interest rates 'don't matter'. At least 75% of these 'trainers' have no clue on basic monetary policy, probably have no clue who the current Fed chair is, and only knows the name Alan Greenspan through passing conversation from who knows where.

"Primerica also gives you a $200 scholarship for going on 6 training appointments." Not true. This is a refund of your application with Primerica in the first place. As far as the "training" goes, the "trainer" himself doesn't hold a training license, just licensed to sell and you'll find that the "trainer" is only interested in selling to your friends and relatives so that he can make the commission for himself that you, the new agent, should be getting if you were licensed yourself.

"Primerica also gives you a $200 scholarship for going on 6 training appointments." Not true. This is a refund of your application with Primerica in the first place. As far as the "training" goes, the "trainer" himself doesn't hold a training license, just licensed to sell and you'll find that the "trainer" is only interested in selling to your friends and relatives so that he can make the commission for himself that you, the new agent, should be getting if you were licensed yourself.

I do not claim to be an owner of Primerica because I am not a Regional Vice President, yet, but as a Regional Vice President you do have partial ownership because of your solution number. Next, the $199 that they asked you to pay was not to go in their pocket or to go towards Primerica. It goes to a state required life insurance license. In some states the license can cost $700, but Primerica has subsidized the cost to pay for it. The money goes to pay for a 2-Day licensing class, a background check, and your life insurance license. Primerica also gives you a $200 scholarship for going on 6 training appointments. The education I have recieved about money from Primerica would be well worth $199, esp. when college credit hours are upwards or $130 for only 1 hour. Good Luck and I recommend you get more information maybe from the Regional Vice President of the person you talked to.