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Primericafraud and scam

1
Review updated:

I am so glad that former Primerica reps are speaking up to the real truth of what Primerica really does to people. I especially like what PFS Truth had to say in April 2008. My husband and I joined the business about 2 years ago and slowly rose up the ranks as Divisional Leaders. We were asked to speak at meetings to motivate new people to come into the business. We followed what our RVP told us to do to the letter. Everything was fine as long as we were making money.

We were told that if we were going to become RVP's then we should like Chargebacks. We were told to tell people that term was the best policy to have. We weren't allowed to sell any other product outside of what Primerica had. We were not allowed to advertise (our) business because head office wouldn't allow it. We were told, "we were in business for ourselves but not by ourselves."

None of what they said to us was true. We were not running our own business. All we were was a means for our upline to make more money for them. If you are a new person showing up for a business opportunity then you really don't know things until you hang around long enough. The person who invited you in the meeting doesn't tell you anything until you get to the office and they show you a film. They most of the time come across as being your friend. Inviting you to their house introducing you to their other family. Giving you supper etc...

This is done to let your guard down. You think to yourself if this person invites me to their home then maybe I should trust them. They act like your friend because they have an invested interest in you because of your warm market.

I'm not bashing Primerica people, rather stating the truth. We didn't leave Primerica because we weren't making money either. We had a better offer! An offer that would enable us to tell people the truth from the beginning. As things were revealed to us we couldn't continue working for an organization who deceives people. There are alot of others who are working with Primerica who really believe they are doing the right thing.

All I can say to the Primerica supporters is that if there is smoke then there is fire. Primerica is not the victim here and doesn't not need people like you to shout out others who think there is something wrong with Primerica's methodologies.

I wonder how many current Primerica reps have read their IBA Agreement??? So my advice would be to read your IBA Agreement before you shoot your mouths off to others saying that their negative. TELLING THE TRUTH IS NOT NEGATIVE!!!

Everything PSF Truth wrote is the Truth! I don't even know who this person is but I can tell that they know how Primerica doesn't business. By the way, CITI Group has not been in business for 30 years. Primerica has been formerly named A.L. Williams. So don't push the Citigroup stuff cause you all know that Citigroup is doing really terrible right now. Especially regarding the class action lawsuit against Citigroup for deceiving investors. Do your research people! As far as I can see anyone who disagrees with facts are just trying to be wrong and strong.

Responses

  • Kb
    kB23 Mar 20, 2009

    World Financial Group is where you want to work!

    -7 Votes
  • Na
    Nanette Cuauhtli Apr 13, 2018

    @kB23 It is also good that you experience situations like that. Why I said that? So you can compare with our company, Invida Financial Network (InvidaFN). We are built by agents for agents. We are different. All agents start at 60% contract level. We have a SYSTEM in place that we follow. This SYSTEM will take you as far as you want to go. You can move up from Associate 60% to Team Leader 70% in 30 days. And you can be a Regional Director in 90 days.

    All Promotions and Bonus are based on SUBMITTED business, NOT paid premiums.

    1 Votes
  • Co
    copernicus2009 May 23, 2009

    I'm sorry you've had a negative experience with PFS. What you should know, is that every base shop has its own style. It sounds like the base shop you were working with was very pushy and possibly "sales oriented". The base shop I'm apart of is not like that, what so ever. You are entitled to your opinion, however, so are current PFS representatives. If there was something that you felt was "wrong" with PFS, why did you continue on to Division Leader? It takes a lot of work looking for and finding the right people to get to that promotion, and at some point or another, you really felt the PFS did amazing things for people, or you wouldn't have made it that far in the promotion scale. An interesting thing that I want to point out, however, is the statement you made in your post: "We didn't leave Primerica because we weren't making money either. We had a better offer! "
    What this sounds like is you were mainly about the money and you honestly don't sound like a team player. It's easy to flip on a person or a company when the "offer" is greater when it comes down to bashing them. My base shop (and several others that I have met) are in this business to help people. The fact that you seem disgruntled over the fact that others were making more money than you proves that point and with that being said, this business really isn't for you. If being "rich" is your only goal, instead of helping people's respective financial situations, then I'm glad you've moved on.
    Thank you for your time.

    5 Votes
  • La
    Latrecia lester Jul 10, 2018

    @copernicus2009 I need help to tell my story how Citi mortgage and Primerica set me up in two
    Foreclosures. I lost 20 thousand because of
    R V P Richard Todd.

    1 Votes
  • In
    interestedinthetopic May 24, 2009

    copernicus2009, I have to say I am impressed! I have not heard people say positive things about Primerica before and it was nice to hear someone tell why they are with the company.
    I think your argument made a lot more sense than the first post and I might have to give it a second look one of these days.

    Thanks!

    1 Votes
  • Co
    copernicus2009 May 24, 2009

    I'm glad you are willing to give Primerica another chance. There are bad apples in every company, but that doesn't mean everyone is bad. Thank you for recognizing that!
    Best wishes to you and your family!

    -Copernicus

    -1 Votes
  • Na
    Nanette Cuauhtli Apr 13, 2018

    @copernicus2009 Our company offers agents at 60% contract level. Because of our System that is in place, the new agent can move up to Team Leader 70% in 30 days. You can be a Regional Director 80$ in 90 days.

    Follow the System. Promotions and Bonus are based on SUBMITTED BUSINESS (not paid premiums.

    We are built by agents for agents.

    -1 Votes
  • Oh
    ohwhatcanyoudo May 31, 2009

    Copernicus2009, you sound exactly like a pfs rep I almost signed on with. This guy was so silky smooth in his deception, he wore a huge ring with a cross on it. Mixing a front of "trust me" "I care about you and your future" ...yadda yadda. All this guy really wanted was for me to buy into these false hopes and dreams. His real goals were to make him money, get him closer to retirement...all from getting me into debt with shady products from the citi group family of business. Pfs reps are scam artists to the core.

    3 Votes
  • Co
    copernicus2009 Jun 01, 2009

    Hello,
    Very interesting that you didn't actually sign on with this person, and yet you truly think you know what it is we do. I'm willing to bet that your dislike of the company came from someone elses skewed opinion. It happens quite a bit actually and it's sad to me that there are so many people that will only make decisions based on what others think.
    That's something I will never understand. But, you have the right to do that. However, you really should reconsider bashing a company you have never worked with. It doesn't look good on your part.

    Two quick side notes: World Financial Group is a made up of former PFS reps who decided it would be "better" to take the foundation and principles that Art Williams developed and copy them. Also, for those of you that would like something interesting to read about PFS, check out /link removed/ That website was FULL of the same exact complaints and they actually went and did a 3 month long investigation of Primerica, and found us to be a solid company.

    Just a thought.

    -1 Votes
  • Ve
    Vedder Jun 01, 2009

    I worked in Primerica for 6 years and found it to be a legit company, even if I didn't agree with the products they sell. A lot of the people in the company have good intentions, but are uninformed about the process. Mortgages at or above 10% should be a crime, but who am I to judge, right Copernicus?

    Anyway, the company wasn't for me and I left. I don't have many regrets about my time with the company since I met a lot of good people and some bad unfortunately. Every group, no matter the company, is going to have a few bad apples. The few regrets I have were more about my failure at making it work as a side income and the process. But it does work for others, so I am not bashing the company for that.

    I did purchase a term insurance policy for my wife and myself that I still have. So not everything they do is negative.

    I think most of the time, people look from the outside and hear a few bad comments and make up their minds that it's all bad. At the same time, people still in the company are only going to see the good things and defend it to the end.

    Vedder

    2 Votes
  • Ra
    raisons d'etre Jun 02, 2009

    MLM is not for everyone; if you have a problem with exploiting people, then you'll have a problem with MLM. Many clever terms are used to disguise the true prioritites of these businesses. But there's the opportunity for lots of money to be made on the work of good recruits.
    I was sold products and heavily recruited to the point of joining; but as I later learned, your upliners will make more off of you than you will - until you've built your own "tree". I've tried to no avail to get my personal agent to do a new FNA and review what the current economic environment has done to my own investments. Her response was to "come to the (recruiting)meetings." So, in this particular hierarchy, the concern is not for individual services as that is just the initial recruiting tool. Most MLMers are only motivated by building their hierarchy (money) and have little concern for you individually once you've been successfully recruited. Their products are not all bad, but they do work as recruiting/contact tools. Then they turn up the heat on getting recruits to the meetings.

    I all boils down to ethics. Do you exploit products or people? Also, have you thought about who is exploiting you?

    4 Votes
  • Co
    copernicus2009 Jun 10, 2009

    Vedder-

    You should look at how the banks add up their numbers. Do the math. It ends up being upwards of 200% interest when they're done. This is mortgages, credit cards and personal loans. Considering you were with PFS for 6 years, you should know the difference between simple vs. scheduled interest mortgages. We're the only ones doing simple interest and our clients have had the edge over the majority of people for a very long time. I find it hard to believe that someone who was with us that long still doesn't understand our products and how they function.

    Raisons-

    We are not MLM. You do not need purchase products in order to be apart of the company. I did MLM before with a company called Medaluca. This is not the same thing.
    We are independent contractors. And as I've stated before, (and I cannot stress this enough) EVERY BASE SHOP IS DIFFERENT. For example, my base shop is the complete polar opposite of what you're referring to, and last week we visited a base shop a few miles away, and their approach is VERY different. I'm sorry you had a bad experience and that you feel so negatively about PFS.

    I wish you both the best of luck.

    -1 Votes
  • Ve
    Vedder Jun 11, 2009

    Give Copernicus some credit...he is a disciple of his company and will defend it to the end, just like I said above.

    It's hard to believe 100% in a company that is backed by Citi who is about to have approx. 34% of it ownership given to the Government.

    http://dealbook.blogs.nytimes.com/2009/06/10/citi-sets-plan-to-convert-58-billion-in-stock/?ref=business

    I'm sure hardly anyone with the mortgages initiated from a Primerica rep were defaulted on, right? If the deal is so wonderful, then people can surely afford to pay for it, right?

    I saw, with my own eyes, some of the offers that came back over 10% on a mortgage with Primerica. I don't care if you are making 2 partial payments a month. That's still bad business. Imagine if the rate was reasonable like 5% or so. You've got to stop drinking the kool-aid and use common sense once in a while. I mean, it's the housing/mortgage mess that led to the demise of our economy, not to mention the massive overspending the Government has been doing. But, I digress...that's a topic for another time/place.

    I don't know, maybe I'm completely wrong, BUT...I felt wrong/guilty trying to convince people to sign for something like that. I have a conscience, which probably makes me a terrible salesman. I can't feel good about profiting from putting people in a bad situation.

    Again, as I said above, not everything was bad about Primerica from my experience. Just do your homework and trust everything that is told to you, no matter how friendly people seem. That's good advice for anything, not just this subject.

    2 Votes
  • Co
    copernicus2009 Jun 12, 2009

    Just to let you know, I'm female.

    Secondly, we are a subsidiary of Citi and no, we did not receive any of the bail out money. Check your info. We were not a part of the mortgage mess. We are strict with our mortgages and loans and we only do fixed rate.

    Again, do the math.
    I don't get why you're so focused on the "10%" when you're not acknowledging how our mortgages work. YOU SHOULD KNOW THIS! That is, if you were actually with PFS. Again, I find it hard to believe that you were with the company for 6 years and yet you clearly don't know how the amortization of our mortgages work.

    -1 Votes
  • Th
    The Knowledgeable One Jun 13, 2009

    This si for Vedder, It seems he did learn a little knowledge, but a little knowledge can hurt you a lot.
    --------

    MLM is not for everyone; if you have a problem with exploiting people, then you'll have a problem with MLM.

    MLM do not exploit. Companies exploit, or do you think that these people getting layed off after working 18 years with a company just before tehy get their pensions are not working ahrd. Or the fact they lay off people but make the others work harder to keep their jobs. MLM will only work if you do. And Primerica does not make money off the new recruits, but it costs them 1500 dollars to hire and train the eprson and the person can leae at anytime. Try that in a job.
    -----

    Many clever terms are used to disguise the true prioritites of these businesses. But there's the opportunity for lots of money to be made on the work of good recruits.
    I was sold products and heavily recruited to the point of joining; but as I later learned, your upliners will make more off of you than you will - until you've built your own "tree".

    Yes, but in the Company you work for now, will you ever get your own tree? Do you get to keep the equity you built. I do not think so. Even ALlstate and other companies that sell similar products do not own the books of business, and tehy can be fired at any time.
    -------
    I've tried to no avail to get my personal agent to do a new FNA and review what the current economic environment has done to my own investments. Her response was to "come to the (recruiting)meetings." So, in this particular hierarchy, the concern is not for individual services as that is just the initial recruiting tool.

    Since they do not make money on the recruit, I am curious how your personal agent makes money off you recruiting? Now maybe they will not have to work hard in a couple years after you ahve been trained and on your own, butr it takes time and aggravation to train someone, especially someone who thinks he knows it all, like yourself. A reason why they may have been tryign to get you to go to a meeting is to meet someone that you might connect better with, since sales is not really the product but the connection.
    -----------

    Most MLMers are only motivated by building their hierarchy (money) and have little concern for you individually once you've been successfully recruited. Their products are not all bad, but they do work as recruiting/contact tools. Then they turn up the heat on getting recruits to the meetings.

    Since Primerica loses money on the recruiting, How can that be? So Primerica must be the exception and not in this group! Yes they try to recruit. Why is that a bad thing? Doesn't the company you work for now, recruit? The Military Recruits, Police Depts recruits, everyone recruits. The only difference in this recruitment is you have the OPPORTUNITY to earn a 6 figure income in 18 months.
    --------

    I all boils down to ethics. Do you exploit products or people? Also, have you thought about who is exploiting you?

    Why does it have to be exploiting? I am curious what do you call an opportunity to make extra money? Exploitation or helping? This si a negative thinking, and looks like you are comparing the opportunity to a job.
    First Products having been said to be the right track for 98% of the people in the USA, adn definitekly for the Middle Class their target market. Dave Ramsey Suze Orman both say this because they say to use these products.
    Second, Yes the opportunity is not for everyone. Just like being a sky diver is not for everyone. But if you go to the meetings and learn the concepts you will not be taken advantage of by those slick mortgage hustlers, or those insurance peddlers or the banks. It is really only for the about the top 10%. But I bet most people would rather attempt it and learn than not attempt it and be like many of the Baby Boomers now, not able to retire, have to work til they die, and will leave money problems for thier kids.

    -1 Votes
  • Th
    The Knowledgeable One Jun 13, 2009

    Again this is from Vedder but it needs clarification
    --------

    Give Copernicus some credit...he is a disciple of his company and will defend it to the end, just like I said above.

    Not really. He is a crusader. It si something that was started back in the 1970's by the founder. He knows that the only thing you are trying to do is stop one person from trying it out. This way you will not ahve to re think your position. It is a shame that you destroy instead of building.
    --------

    It's hard to believe 100% in a company that is backed by Citi who is about to have approx. 34% of it ownership given to the Government.

    http://dealbook.blogs.nytimes.com/2009/06/10/citi-sets-plan-to-convert-58-billion-in-stock/?ref=business

    I am glad you brought this up. I would enjoy looking at all the companies that are taking a hand out but then I would not be able to to fix your mistakes.

    But Primerica is one of the only Areas that is making Citi money, and Citi has been trying to sellit for 2 years. The only problem is no one has the cash to pay what Primerica is worth. They are thinkiign of doing an IPO or making it own company again, before it was bought by Travelers and then merged with CITI. But I am sure you were not trying to say Primeric ais guilty by association, because that would not be truthful.
    -----------

    I'm sure hardly anyone with the mortgages initiated from a Primerica rep were defaulted on, right? If the deal is so wonderful, then people can surely afford to pay for it, right?

    Now since you are using Mortgages let us look at how they do it. First they get you in a plan that saves you money. Then they show you how to get out of debtr faster with bi weekly payments, simple interest, and puitting the savign s to pay down the principle. This way you have more money going to the house if you should lose your job or get demoted.( They also lower your rate when you do the biweekly payment, unlike m ost banks charge an annual fee, a payment collection fee, and hold you money until your payment is due.)

    Lastly they have a program if you are accerating your mortgage either by biweekly payments or more money, and you lose your job, they will let you slide on you mortgage until those payments are gone.

    Now Citi Mortgages have foreclosed but not all Citi Mortgages were on the SMART LOAN.
    ----------

    I saw, with my own eyes, some of the offers that came back over 10% on a mortgage with Primerica. I don't care if you are making 2 partial payments a month. That's still bad business. Imagine if the rate was reasonable like 5% or so.

    So all loans that are at 10% a bad? What if the person had a 100% loan to value? That is a high risk for the bank, wouldn't you agree, and most banks will not take it. But where are you getting 5%? I hope you are not going by what those commercials are touting. Everyone knows that is for A+. Interest rate is not just a number it has many factors. Most it seems escape you. Pay histroy, debt to income ratio, Loan to Value, the list goes on. Most companies doing refinancing are making you wait 6 months. Primerica i think ahs a 2 to 4 week window to get an answer back. Most loans are set up for you to re-finance in 2 to 5 years, Primerica tries to set you up in your last loan ever. Most banks want you in debt. Primerica wants you out of debt, so that you can retire. ( that is the reason why Banks offer 1 to 3% rate of return mainly and Primerica shows you a higher rate.

    Lastly, most of those loans you talk about put me back on 30 year mortgage, a Primerica mortgage usually keeps you on pace if not accelerates your debt freedom date.

    I am curious Who would not pay double the interest rate with the promise of being a millionaire. That is a scenario I have seen. And it is all off the money they were paying for debt.
    --------------


    You've got to stop drinking the kool-aid and use common sense once in a while. I mean, it's the housing/mortgage mess that led to the demise of our economy, not to mention the massive overspending the Government has been doing. But, I digress...that's a topic for another time/place.

    Let us go into this. We agree that the housing mess got us in this problem. But Primerica never sold these toxic mortgages. They are pick your payment, Interest only, negative amoritization loans that cause this problem. Primerica never sold those. they sold SMART Solutions. Ones that showed you out of Debt in 10 15 and 20 years sooner. They even showed people who would never be out of debt, getting out of debt. So please do nto think you can lump Primerica into the group that caused this mess.
    --------------

    I don't know, maybe I'm completely wrong, BUT...I felt wrong/guilty trying to convince people to sign for something like that. I have a conscience, which probably makes me a terrible salesman. I can't feel good about profiting from putting people in a bad situation.

    So let us look what was wrong. They have a higher rate of return, but are getting out of debt faster. ( 15 year loans have higher interest rates don't they?) You are showing them how to take the money they are saving and invest it, and pay down the mortgage faster. ( unless you were being selfish and did nto want to lose the commission on the securities to your upline.) This means they will have more money at retirement, and have their house paid off, which most of their friends and neighbors will never have. Lastly you are giving them breathing room so they can live througbh these hard times. I am curious where is the negative?
    -------

    Again, as I said above, not everything was bad about Primerica from my experience. Just do your homework and trust everything that is told to you, no matter how friendly people seem. That's good advice for anything, not just this subject.

    I am glad to hear that you say not everything is bad. But the only problem is that you spin everything negatively. I have alreadyshowned that you are not as knowledgeable as you think you are.

    Remember the Magician. He always wants you to look away while he tricks you.

    Banks and Mortgage companies always want you to look away at interest rates and payments, when you should be looking at the total cost. You should be looking at how much money the company selling you the loan is costing you. Then you will be surprised.

    1 Votes
  • Pg
    PG13 Jul 01, 2009

    THIS HAS THE BEST TWIST IN LOOKING AT PRIMERICA. WOW!

    http://therealprimerica.blogspot.com/

    0 Votes
  • Ma
    marisel Jul 01, 2009

    I CAN NOT BE ABLE TO WORK WITH THE COMPANY. IWANT MY MONEY BACK FROM THE BACKGROUNG CHECK. THANKS

    2 Votes
  • He
    hekenley Jul 11, 2009

    I agree with NonnieMouse, call them. You will not get a refund for the background check but if you took the exam and passed you will get the refund for the exam.

    1 Votes
  • De
    Detonator Jul 14, 2009

    I bet all of you PFS (Primerica Freakin Sucks) are broke and struggling fools. My gf's friend has been working with PFS for three years, and still living with her as mom. Oh... and guess what? So does her BF who also claims to be a savvy financial agent from PFS. Every time I bring up a financial question, all they tell me to do is... you just have to do more research so that you can get the facts straight. UUmmmm... well, isn't she supposed to be a good source of information?

    Reps do not give a rats about the agents; all they care about is recruiting and suckering people into a 200 "licensing" fee. Sadly I was a sucker, but now that I have graduated college, have a steady 70K job, I can look back at the PFS reps and laugh in their faces.

    Heck... what company has a Company Dinner; make you drive the reps (oh that's supposed to be an honor), and on top of that pay for your own dinner??? I have a company credit card!!!

    From my impressions, all you reps are deceiving, dingy, broken down, and ignorant brain washed people.

    Do you want to own your own business and have financial freedom??? yyeessss!!! then this is the company for you! If you bring five more people, then you can start your own business. HHHmmm... no business planning, no loan to start a business? Wow...

    Think about it... let's say you're a wealthy person who has access to a large number of people. Wouldn't you use this toward your advantage to recruit even more people and get even more rich??? Why don't they do that? because this company is a joke, just like all of you who are stuck in your own little primerica hole.

    1 Votes
  • Kn
    knar7 Jul 14, 2009

    Hi I'm Evelyn (kanr7) I what to know what happen whit my complain that I made the last week I 'm still waiting for a answer from you about the problem whit Julio Salazar (0E05021) probably I need to look for another source of help I can't belive that you support what Julio salazar did to me first Rvp rafael mejia now you why you can answer my email and tell me what happen to you to you company whit people like Julio salazar represent a big company like Primerica this is a shame for primerica this a shame that someone use your name just for recruit people then steal the money from them like happen to me.

    -----Original Message-----
    From: [email protected]
    Sent: Thu, 9 Jul 2009 23:53:42 -0800
    To: [email protected]
    Subject: Re: kanr7
    Hi I'm Evelyn Kanr7 - again I want to know if you really take care of my complain if you have trobles to talk whit Julio Salazar (0E05021) about my complain about all this try to reach him to this phone #(818) 361-6033 sorry if I bother you whit this but I need I want a solution to all this you can try to talk whit Julio salazar or Rafael Mejia RVP

    thanks for your time

    Primerica [http://www.yellowpages.com/info-10896893/Primerica]
    1038 N Maclay Ave
    San Fernando, CA 91340
    (818) 361-4700
    > -----Original Message-----
    > From: [email protected]
    > Sent: Tue, 7 Jul 2009 18:03:47 -0400 (EDT)
    > To: [email protected]
    > Subject: Re: kanr7
    >
    > Your complaint has been forwarded to the Office of General Counsel and
    > you will receive a response within 7 business days.
    > Thank You and have a nice day
    > CallAtlanta Billing
    > AS
    >
    > ---- Original message ----
    > >Date: Thu, 2 Jul 2009 13:29:17 -0800
    > >From: "JULISSA J. V" <[email protected]>
    > >Subject: Re: kanr7
    > >To: [email protected],
    > [email protected]
    >>
    >> Hi my name is Evelyn Juarez (kanr7) I worked in
    >> the office of Rafael Mejia 1038 N Maclay ave,
    >> Suite A San Fernando CA, 91340 The reason for this
    >> email is because I want to file a complaint with a
    >> person working at this office located in
    >> California was a recruit of Julio Cesar Salazar (
    >> Insurance Lincese # 0E05021 ) I was working with
    >> Julio Salazar group, He asked me for a favor to
    >> make a loan of money which came to the sum of $
    >> 2723.00, but also I made another thing, he need a
    >> computer for work in the office so one more time
    >> he ask me for another favor because he don't have
    >> good credit to buy something to credit so I we
    >> decide to buy a computer for work in Primerica
    >> using my credit. I lend my credit to him to
    >> purchase a computer on my name to assist in the
    >> work in Primerica first and decide to help him
    >> once more time with the agreement that he going to
    >> take full responsibility for making all the
    >> payments on the computer with the company Dell.
    >> unfortunately he did not do his part and the
    >> company where we bought the computer call me that
    >> I was late with all the payments. I talk whit him
    >> about this why he don't made the payments for the
    >> computer when we made a agreement to lend my
    >> credit but always make the payments, and several
    >> time actually I see myself obliged to put money
    >> for my pocket to pay some money for the computer
    >> because the company Dell always told me that they
    >> going to send me to collection, but I can't afford
    >> more this situation I don't have the money to pay
    >> this bill because is not my bill I know is my
    >> credit but I just trying to help him whit this
    >> favor to work in Primerica I was really upset whit
    >> Julio Salazar asked him for my money That borrow
    >> him before and also for the money that I put for
    >> pay some months for the computer and the most
    >> important thing to be serious whit that agreement
    >> that we made whit all the payments for the
    >> computer and my money back .He refused to do his
    >> part whit our agreement, So I decide to put my
    >> complain to the RVP Rafael Mejia Rafael he ignore
    >> my complaint whit the problem of the money and the
    >> agreement that we have whit the computer saying
    >> that the problem was between Julio Salazar and
    >> myself not from office I explain him why I decide
    >> to all for Julio Salazar my purpose just want to
    >> help him specially whit the purchase of the
    >> computer that was good to work in Primerica for
    >> the whole group Of Julio S ( Dragon's Team)that
    >> the name of the group of Julio's, Rafael Mejia
    >> understood all this problem but he still ignored
    >> my complain because I decide not to be part of the
    >> office after all embarrassment situation could not
    >> continue in the company of Primerica, Julio S ruin
    >> my credit send me to collection missing to his
    >> oath whit the agreement that he made to take
    >> responsibility to pay the computer and also to
    >> return my money back that I borrow him, I feel bad
    >> because Rafael Mejia decide practically support
    >> him because I decide not work whit them and Julio
    >> Salazar still whit him. Now you are only source
    >> that I have for me because you cannot be possible
    >> to allow people like Julio Salazar continue using
    >> Primerica to recruit people to work whit him in
    >> Primerica pretend to be a good person ask for help
    >> and them ignore this favor swindling a recruit and
    >> don't pay his debt, and also to allowing him to
    >> use Primerica your name in court in front a judge
    >> of his hypocrisy I have letters signed for him
    >> that he would be responsible for paying all the
    >> debt including the computer payments and the money
    >> that I borrow him but he just ignored never pay me
    >> I'm still waiting for my money back, he never made
    >> the payments to dell company he ruin my credit and
    >> send me to collection for lack of payments to
    >> Dell. I feel desperate about this you as an
    >> organization and big company have to do with this
    >> person working in your company that you are
    >> supposed to help those across it represents like
    >> Julio Salazar give a bad representation to the
    >> name of Primerica he use this name to the laws of
    >> this country to lie saying to a judge that we
    >> never made an agreement, because I don't have
    >> another option to take all this problem to court
    >> because RVP Rafael Mejia he decide do nothing with
    >> Julio Salazar, and my friend that also work in
    >> Primerica told me that I can put my complain whit
    >> you the headquarter of the company my friend told
    >> me that this is not allow the someone nobody can
    >> ask for money to their recruits I didn't know
    >> about this I just want to make a favor, and Julio
    >> Salazar he knows about the rules that you have in
    >> your company and also RVP Rafael Mejia. Please
    >> don't ignore my complain too please help me whit
    >> all this situation please tell me if I can trust
    >> in you. is a shame for Primerica that people like
    >> Julio Salazar represent your name in front to a
    >> judge in court and pretend that nothing happen
    >> that all this is nothing whit someone who worked
    >> in Primerica that not only ruin my credit and
    >> never pay me back my money he ruined my
    >> perspective about the people the recruit people to
    >> work whit him in Primerica and for the other
    >> people that know about this problem whit his
    >> irresponsibility of our agreement .here I send you
    >> a example of the copy of the paper that he signed
    >> to me and you can give you a idea about all.
    >> Thanks for your time I hope that you can
    >> understand my difficult situation thanks
    >>
    >> ----
    >> Example Letter
    >> To whom it may concern :
    >>
    >> This letter is to notified Mr. Julio Salazar to
    >> take full responsibility for the payment for the
    >> computer which he ask me as a favor to help him as
    >> a
    >>
    >> co. signer duo to his financial negligence my
    >> personal credit is been affected there for Evelyn
    >> Juarez demand of Mr. Julio Salazar full financial
    >> responsibility of payment or I will take legal
    >> action against him. I will also write a letter to
    >> Primerica Financial Service head quarters letting
    >> them know about Mr. Julio Salazar behaviors whit
    >> his recruits.
    >>
    >> Julio
    >> Salazar .
    >> Evelyn Juarez
    >>
    >> __________________ _________________
    >>
    >> Firm Att.
    >>
    >> Julio Salazar Loan
    >>
    >> This letter is to notified Mr. Julio Salazar that
    >> I Evelyn Juarez demand to him full payment in the
    >> amount of $ 2, 723.00 as a personal loan that I in
    >> good faith lent him, which he gave his word to pay
    >> me back by January 2007 which as of today it
    >> hasn't been paid not even a single payment.
    >>
    >> I Evelyn Juarez give to MR. Julio Salazar the
    >> option to pay me in one lump sum or 3 equal
    >> installments stating July 11th 2008, in case that
    >> Mr. Julio Salazar refuse to agree to this terms, I
    >> will take legal action to Primerica Financial
    >> Service, the unprofetional behaviors of Mr. Julio
    >> Salazar whit his recruits.
    >>
    >> Julio
    >> Salazar.
    >> Evelyn Juarez
    >>
    >> ______________
    >> __________________
    >>
    >> Firm.
    >> Att.
    >>
    >> -------------------------------------------------
    >>
    >>
    >>
    >> > -----Original Message-----
    >> > From: [email protected]
    >> > Sent: Sat, 27 Jun 2009 19:58:29 -0400 (EDT)
    >> > To: [email protected]
    >> > Subject: Re: kanr7
    >> >
    >> > We apologize for the inconvenience. Can you
    >> please send your request in
    >> > English. We currently do not have a translator.
    >> If you have any questions
    >> > or concerns please call 888-737-2255, press 1
    >> for billing, and 0 to speak
    >> > to a representative.
    >> >
    >> > Thank you
    >> > KV, CallAtlanta Billing
    >> >
    >> >
    >> > ---- Original message ----
    >> > >Date: Fri, 26 Jun 2009 16:29:45 -0800
    >> > >From: "JULISSA J. V" <[email protected]>
    >> > >Subject: kanr7
    >> > >To: [email protected]
    >> >>
    >> >> Hi my name is Evelyn Juarez ( kanr7 ) I worked
    >> in
    >> >> the office of Rafael Mejia 1038 N Maclay ve,
    >> suit A
    >> >> San Fernando CA, 91340 la razon de este email
    >> es
    >> >> porque quiero poner una queja con una persona
    >> que
    >> >> trabaja en esta officina localisada en
    >> california
    >> >> era una recluta de Julio cesar Salazar estabajo
    >> con
    >> >> el grupo de Salazar el me pidio un favor que le
    >> >> hiciera un prestamo de dinero el cual llego a
    >> la
    >> >> suma de $2, 723.00, tambien le preste hice
    >> presatmo
    >> >> de mi credito credito comprando una computadora
    >> a mi
    >> >> nombre para ayudar en el trabajo de primerica
    >> acepte
    >> >> y decide ayudarlo un vez mas con el acuerdo que
    >> el
    >> >> iva a tomar toda la responsabilidad de hacer
    >> los
    >> >> pagos de la computadora quese le hizo a la
    >> compania
    >> >> Dell. lamentablemente el no cumplio con su
    >> parte, le
    >> >> pedi el dinero que se le havia prestado tambien
    >> que
    >> >> terminara de hacer los pagos se nego hacerlo,
    >> por mi
    >> >> parte me queje con Rafael Mejia el RVP Rafael
    >> ignoro
    >> >> mi queja diciendo que este problemas era entre
    >> los
    >> >> dos no de la compania Primerica cuando sabia
    >> que se
    >> >> havia hecho bajo un acuerdo que era para ayudar
    >> con
    >> >> el grupo de Julio Salazar por motivos que yo no
    >> pude
    >> >> seguir en la compania primerica por este
    >> problema
    >> >> con Julio Salazar rafael mejia decidio apoyar a
    >> >> julio Salazar, ahora estamos llevando este caso
    >> a
    >> >> corte, decidi contactarlos ya que ustedes son
    >> una
    >> >> esperanza para mi porque no se puede ser
    >> posible que
    >> >> permitan que personas como Julio Salazar siga
    >> ab
    >> >> usando de su nombre de Primerica mitiendo ante
    >> una
    >> >> corte ante un Juez de su hipocrecia tengo
    >> cartas
    >> >> firmadas por el de se haria cargo de pagarme mi
    >> >> denero mas haria los pagos a la compania Dell
    >> de la
    >> >> comtadora, no a pagado la deuda tambien aruino
    >> mi
    >> >> credito mandandome a colleccion por falta de
    >> pagos a
    >> >> DEll. me siento desesperada ante esto ustudes
    >> como
    >> >> una organisacion tienen que ver con las
    >> personas que
    >> >> trabajan en su compania se supone que ustedes
    >> estan
    >> >> para ayudar atravez de quienes lo representa
    >> mas sin
    >> >> embargo el Sr. Julio Salazar perdica su nombre
    >> de
    >> >> Primerica ante las leyes de este pais, por
    >> favor
    >> >> digamen si me pueden ayudarcon esto y hablar
    >> con
    >> >> Julio Salazar y con Rafael Mejia de como pueden
    >> >> permitir que pase esto dentro de su compania de
    >> >> Primerica es un verguenza que personas como
    >> Julio
    >> >> Salazar reclute personas solo para
    >> >> estafarlas.gracias por su tiempo
    >> >>
    >> >> loan. $2723.00
    >> >>
    >> >> Dell computer now. $2046.22
    >> >>
    >> >> total; $ 4769.22
    >> >>
    >> >> phone (818) 574-9962
    >> >>
    >> >>
    >> ------------------------------------------------
    >> >>
    >> >> Email Notifier Preview
    >> >> Receive Notifications of Incoming Messages
    >> >> Easily monitor multiple email accounts & access
    >> them
    >> >> with a click. Visit www.inbox.com/notifier [http://www.inbox.com/notifier] and
    >> check
    >> >> it out!
    >> > Thank You.
    >> > CallAtlanta Billing.
    >> > (Please include your solution number and this
    >> email if you are going to
    >> > reply to this message.)
    > Thank You.
    > CallAtlanta Billing.
    > (Please include your solution number and this email if you are going to
    > reply to this message.)

    0 Votes
  • Th
    The Knowledgeable One Jul 16, 2009

    This post is from Detonator, and so that I never get accused of taking things out of context let me examine his post.

    I bet all of you PFS (Primerica Freakin Sucks) are broke and struggling fools.

    that is why they ahve a book full of people making over 100, 000 a year that is the same size as most towns phone book.
    ---------

    My gf's friend has been working with PFS for three years, and still living with her as mom. Oh... and guess what? So does her BF who also claims to be a savvy financial agent from PFS. Every time I bring up a financial question, all they tell me to do is... you just have to do more research so that you can get the facts straight. UUmmmm... well, isn't she supposed to be a good source of information?

    First Henry Ford was not a genius, but he knew that if he did not know the answer he had a way to get it. Sounds like these two know that your questions are not simple bgut more complexed. Or maybe they know that legally they can't talk about certain things until they are licensed to do so. This si something most lay people like your self do nto know.

    As for living at home, that may be true but since most of your facts are wrong so far, if surprises me you even know what they do.
    --------------


    Reps do not give a rats about the agents; all they care about is recruiting and suckering people into a 200 "licensing" fee.

    You are so far behind the times it is not even funny. It is not $200 or $199 anymore but only $99 and a monthly fee to have a virtual base shop.
    but you get over 1500 dollars in value, including several licenses that are yours to keep. I curious who would nto pay 100 to get 1500 worth of value?
    ---------------

    Sadly I was a sucker, but now that I have graduated college, have a steady 70K job, I can look back at the PFS reps and laugh in their faces.

    I am so glad you ahve a job. The self employed do need some one to wait on them when we call on businesses. But then again when that company gets tired of you, or they can find someone to do the work for less, or the company goes under, you will be unemployed. In Primerica the only time you get out is when you quit or you do something truly illegal.

    Also a 70k job is a 40k self employed position because of the tax benefits. It seems everything is deductable.
    -----------
    -----------------------


    Heck... what company has a Company Dinner; make you drive the reps (oh that's supposed to be an honor), and on top of that pay for your own dinner??? I have a company credit card!!!

    Which can be taken at any moment. But then that drive and dinner is tax free. 100% goes against what you earn. How much do you get to take off your taxes for your company credit card.
    -----------


    From my impressions, all you reps are deceiving, dingy, broken down, and ignorant brain washed people.

    Well Since you think a job is so great, why nto ask all those people unemployed how great a job is? I know you are immuned from downsizing and company's closings. I just hope you are saving 50% of that money so you can live when you are unemployed.

    As for being brainwashed, I know people with jobs are. They work to make some one else rich, while getting paid just enough to get by. ANd when the times are tough, they are let go while the owners keep their equity and the clients they have given them.
    -----------

    Do you want to own your own business and have financial freedom??? yyeessss!!! then this is the company for you! If you bring five more people, then you can start your own business. HHHmmm... no business planning, no loan to start a business? Wow...

    What is wrong with that? Most people get personal loans and owe thousands to get a franchise. they ahve to work for 2 to 10 years so they can take their first vacation. And then they can lose it all if the company decides to take back the franchise, and work it themselves. At least with Primerica, you are not in debt for 10 years just to work 120 hours a week to break even.

    If you work you get paid. If you work you can become a RVP and then be able to live the life you want.

    With a job, you work until they tell you to go away either with a retirement or a termination. You live where they let you, because of the pay you get. You take the vacations they tell you on the pay they give you.

    I take a hope and dream than a despare of living in a job any days.
    ------------

    Think about it... let's say you're a wealthy person who has access to a large number of people. Wouldn't you use this toward your advantage to recruit even more people and get even more rich??? Why don't they do that? because this company is a joke, just like all of you who are stuck in your own little primerica hole.

    But then there is the advantage that Primerica has. Since the company pays the RVp to train and develop leaders. This si not like the Realtor that wants their best sales person to stay their best sales person. trhe advantage is to train people get them developed and then get them out of the nest so to speak. It is so different. I own my own business and been approached by several RVP's, and the only reason why is I do not want to start another business.

    By the way the hole you are talking about is a lot nicer than the hole you live in. I hire people that were making 200, 000 a year for less than 50, 000 now since the economy is so bad. I can't wait until you are gone and come to me and I offer you 30, 000 for some one with your degree and experience, and have to take it because it is all you have.

    0 Votes
  • Bu
    Buddy_Rowee Jul 24, 2009

    I had a chance to work in an insurance office. I decided to try the Primerica thing. What a mistake. They are a bunch of religious fanatics. You don’t talk about god in a meeting. And they would not teach me how to sell. They said I had to educate the prospect and give them options. I wanted to sell people stuff and make money. I did some research, and insurance is complicated. That’s good because the client won’t understand it and you can sell the thing that makes you the most money. That’s why I left Primerica. I now work for a small independent agent in town. When a new client comes in, I fire up the smoke generator, find out the max they can pay, and sell them exactly that. When I was at Primerica, they made me do an individual needs analysis for each client. What a pain. Now I only have to do one needs analysis, mine. I figure out what I need and can sell to it I is great to have the freedom to do what you want.

    -2 Votes
  • Regena Jul 24, 2009

    For assistance regarding your IBA, please contact Primerica's home office by sending email to us_iba_refunds(at)primerica(dot)com. To cancel your POL subscription and request a refund, send an email to help_callatlantabilling(at)primerica(dot)com, or call 18887372255.

    Regena Wood
    Primerica Home Office employee

    -1 Votes
  • Ex
    Ex-Primerican Aug 01, 2009

    How funny is it the previous post is almost certainly a Primerica Rep trying to make the industry look bad. I was with Primerica for over a decade I was brainwashed like most reps who post on here. Here is my background with Primerica:

    My college professor at BYU introduced me to Primerica in the mid 90s and I joined for one simple reason – I was scared to say no to him! After a couple meetings I was pretty turned off by “the business” of recruiting everyone, but I couldn’t quit. (At least and still feel comfortable about passing my Biology class) Once day I was finally pressured to take my RVP to see a relative and I was shocked. They were paying $350 a month for life insurance, had a lot of debt, and no savings. On our 2nd visit we got them more coverage for $100 less per month, consolidated all of their debt and saved them $500 a month (& paid off their house a couple years sooner), and started IRAs for them. I was shocked & when I got my first commission I was hooked. I helped my Aunt & Uncle and made almost $600 for doing it. A Primerican was born! Over the next couple years I dominated the leader’s bulletins, ran meetings, won almost every trip, spoke at conventions, got promoted to Regional Leader, and began my trek to RVP and the $100k ring. (The highest part-time contract) I went full-time and made just shy of $50k a year for the last couple years with Primerica. Back then I thought making almost $50k made me wealthy and I was high on my own sense of importance! I loved it… I mean I loved everything about PFS.

    One day my little perfect world came to an end. I got fed up with my NSD and requested a transfer & was told there was no way in hell. I spoke to the home office and they said there is no way in hell. This guy (the NSD) acted the role of best friend, mentor, business partner, and most important Christian; but when it came down to it I was nothing more than a meal ticket. There were a lot of personal reasons I needed to get away from him, but I don’t want this to be a slam against him, but an honest take of my experience with PFS.

    This is when my real education started. I had a friend who worked for an insurance brokerage house and I started working with them. I learned what real training was. I learned that all Cash Value policies are not evil. (Although I have only few cash value policies in the past 3 years! The problem is people selling cash value policies to people who would be better off with Term) And of course there are the cursed $MART loans. I sold more $MART loans between 1997 – 2003 than anyone in our SNSDs baseshop. I was the $MART guru. I am so embarrassed that I didn’t do some more digging before I sold the product, but I didn’t know what I didn’t know & I trusted my RVP and the crappy fast start schools that told me it was the best mortgage in the industry.

    If things wouldn’t have happened the way they did I would still be with PFS running meetings, recruiting every waitress and cashier I see, and alienating my friends and families because all I thought about was recruiting or selling them.

    I ran into my former NSD last year while I was visiting family in Provo. We tried to keep it friendly, but when he challenged me on replacing my families’ policies I had to nail him to the wall. Almost every policy I ever wrote was replaced with an equivalent or stronger rate company than PFS. I was able to replace those policies for less money and sometimes more coverage even 10yrs later! (Those that couldn’t be replaced were because of health issues!) Also I confronted him on how unethical the $MART loan was. He tried the very well trained “daily balance simple vs scheduled”, but when he showed me a current $MART loan he was doing trying to prove his point I nailed him again with a rate sheet and mortgage calculator. It is simple – The $MART loan would be the most amazing loan and unbeatable IF, IF, they would have competitive rates! Why Citicorp Trust won’t be competitive still shocks me, but we all know it is Greed. 100% of the time a high interest $MART loan can be beaten (Both time and cost) when comparing it to a conventional 20yr fixed rate loan.

    See I am grateful that my BYU professor introduced me to Primerica because it opened this amazing door for me. My ONLY issue with Primerica is that they try to promote themselves as the only company that does what’s right 100% of the time. That is an absolute lie! There products aren’t even close to being even middle of the road!

    The truth is Primerica’s Reps job is to get you in the door, get your referral list, and start making sales. Once you recruit someone they repeat the cycle. If reps would stop turning the industry into the villains and PFS into the Robin Hood of the average Americans this debate might end. (And maybe cut out the horrendous recruiting tactics that you read all over the internet… PFS has rules against using the words hire & job, but how many people actually follow that rule?)

    I am one of those lucky enough to have learned early enough to find a better vehicle and use it to help my family get to financial independence quickly. I am now semi-retired spending 8 months out of the year by truly doing what is best for my clients 100% of the time and spending the other 4 months in the Netherlands. Needless to say if it weren’t for PFS I would be working in a lab and hating life! So THANK-YOU PFS… I truly mean that.

    PLEASE new & old PFS reps – Stop trashing everyone else & realize that the days Art battled “trash-value” policies are almost extinct. Now your battle is against higher rated & cheaper TERM carriers, better performing and NO load mutual funds, and “Real” loans that your client will always get out of debt quicker & cheaper than the $MART loan. (Beware of agent confrontations! Term vs. Term is a slam dunk and not to the benefit of PFS in 99% of the cases)

    I really do believe that if Joe Plumeri would have stayed around PFS would be more respected and better performing company!!! It’s sad to see how much PFS has changed since it’s creation. Art used to beat most if not all policies, but now PFS doesn’t even care about being competitive. Why should they? They can sell to the new recruits and their family every month. Sad how much the company has changed! Even State Farm & Prudential beat Primerica’s Term Rates! I bet Art is dying knowing his former company can’t even beat Prudential Term!
    Sorry to ramble on, but I have such mixed emotions about PFS. I see that other people repeatedly shown real life examples of “conventional vs. $mart”, but all of the PFS reps ignore the facts and continue to spew their misinformation. All of this being said I have never found so many kind & caring people as I have at PFS events. It is the RVPs, and those that continue to lie, mislead, and take advantage of unknowing reps that disgust me!

    Oh yeah. About that Aunt & Uncle that I saw in the 1996. I went to see them 2 years ago and was able to replace their Primerica life insurance for $47.35 less per month. (That’s right less after 10yrs!!! And we started a new 20yr term) I reviewed their $MART loan and guess what? A Primerica rep from my Aunt’s work came out and helped them “restructure” their debt. How did they do that? Well another $MART loan. We sat down and I was able to do a 10yr conventional loan for $80 more per month than their “new” $MART loan. As for their IRAs – Well the new PFS rep has “adjusted their accounts” 3 times since taking over. Always into different fund families. Hmmm I wonder why? Oh yeah, the rep gets paid again! (I know you Primerica reps are ready to throw me under the bus as to why I didn’t talk to my Aunt before and stop all of this from happening, but in all honesty there was some personally issues with my Father and his sister and we just didn’t talk. I know most of you reading this could care less, but the PFS drones were ready to call me a fake, liar, loser, or 100 other adjectives they learn in their meeting to tear people down.)

    If you are considering Primerica know the facts.
    1. Primerica reps are selling very expensive products. (Life, Mortgages, and Investments) You can find better and cheaper products 100% of the time.
    2. The FNA is not a financial plan. It is a sales tool to sell you the expensive products.
    3. Primerica is a MLM just like Amway. They want you to join to sell their expensive products to your family and friends. (Your warm market)
    4. Primerica compensation is minuscule compared to the rest of the industry. (yes even the RVP level)
    5. Facts go out the window with Primerica sense you are brainwashed there. As you can see PFS reps NEVER use real numbers! Who needs facts when they can brainwash you to buy & sell to your friends & family.

    2 Votes
  • Iw
    IwantToKnow Aug 09, 2009

    im not all for the money but i just want to know if i join primerica will i make money atleast to pay for the expenses that i am using to provide their service? am i scamming people when i sell them their products? i already been to one of their meetings my brother and i went to it he joined but did not make it anywhere and just quit now my wifes friend is doing it and she tells my wife that her friends been doingi t for a while and now she doing better finacially and that she has faith in working for primerica because her pastor is doing it also...

    0 Votes
  • Kn
    knowledgable one Aug 09, 2009

    Let me try to help you out...

    im not all for the money but i just want to know if i join primerica will i make money atleast to pay for the expenses that i am using to provide their service?

    Your questions sounds like you want a guarantee. There is none. You have none with a JOB. They can call you in any day and fire you. They can decide to lower your pay. Cut your bonuses, what ever they want or feel they need to do. So No their is no guarantee.

    But on the other hand their really are no limits, if you are willing to work. See people who fail do not work. The business is about talking to people to become either clients or fellow agents. Clients make you money, fellow agents make you able to retire. Yes you can do it with out recruiting but it is harder, and longer.
    --------------

    am i scamming people when i sell them their products?

    How can you be scamming them? You are selling a product that is good for them. Buying term and investing the difference is something that has been taught by competent advisers for decades. IT is the Insurance companies that sell cash value life insurance. Even the Wall street journal has said that the only people who thinks cash value is worth it is those that sell it.

    But then you will run into people saying it cost more. Well The Tata and a Mercedes are both cars, which one do you want? Are you willing to pay more to get more? With those cheap companies you deal with 800 numbers and people who do not care. With PRimerica, you deal with people who do care, that want you to know what is going on. There will always be cheaper the only problem is you get what you pay for. When It comes to my family and their lifelyhood and my retirement I am willing to pay a little to make sure I get the right information.
    --------------

    i already been to one of their meetings my brother and i went to it he joined but did not make it anywhere and just quit now my wifes friend is doing it and she tells my wife that her friends been doingi t for a while and now she doing better finacially and that she has faith in working for primerica because her pastor is doing it also...

    Yes people do succeed at Primerica, but remember this is life. How many businesses fail every year? If 100 open today in 5 years 25 are still open, and in the next 5 years half of those are gone. ANd those are stradled with thousands of dollars of debt. You might be out 700 the first year. Now if you get licensed you can make that up in a weekend. Or then again you can be like most of the people who fail at Primerica, they blame the system. It is easier to blame the system than to look at the real failure, themselves. Just remember the Aesop fable about the Wolf and the Grapes.

    -1 Votes
  • Je
    JEFFREY BUGLEMAN Aug 13, 2009

    PRIMERICA IS A BUNCH OF ###ING CLOWNS. A GROUP OF DECIEVERS ...WHO SWINDLE PEOPLE INTO BELIEVING THAT THERE GONNA MAKE MILLIONS OF DOLLARS..I DONT CARE WHAT NOONE SAYS..I JUST LEFT THE MEETING . AND THESE GUYS ARE ALMOST, AND I MEAN ALMOST WORST THAN KIRBY SALESMAN. AND BELIEVE ME ..IVE BEEN THERE TOO. MAYBE U GUYS SHOULD RECOGNIZE, WHEN SOMEONE CALLS YOU ABOUT A CAREER OPPORTUNITY AND YOU DIDNT APPLY FOR THAT JOB..ITS USUALLY A SCAM. PRIMERICA CAN ### THEMSELVES.

    1 Votes
  • My
    Myrna Peachock Aug 19, 2009

    Wow, the truth? The truth as you see it. You make money in Primerica by working when you want to. Primerica is NOT a get rich quick company and you will be told that time and time again. You will also know that you results are just that your results. Would you dig ditches for 5 years straight day in and day out if you knew that in five years you would have $1, 000, 000? Well digging ditches are hard work, but with that incentive you might do it. You might hire some people to help so you can have a day off? It's hard work so the more people you have helping you the faster you get to your goal. Primerica helps family at NO COST. Yes, there are reps out there who do not follow the rules. Where else can you go in a company and make as much or as little money as you want. I am a rep, I wasn't happy with my office and my RVP or his ways. So I moved offices. I interviewed them! I am happy doing what I do. I can put my head on my pillow and rest knowing I've helped someone that others don't care about.

    -1 Votes
  • Re
    Reginald Rhodes Oct 28, 2009

    These companies are a drain on society. They produce nothing, they but feed on existing wealth, and often seek to take advantage of people for their own personal gain.

    Companies such as this fired and shouted people down in the midst of the subprime debacle who dared to rock the boat when these companies were making money hand over fist.

    Then they crashed our economy with their new-age economic practices, not realizing that we cannot all just sell each other things. At some point someone has to make something, and that is the basis for wealth, every manufacturing dollar is spent several times, creating several other jobs.

    But I digress, these politically connected institutions have gamed the system to become too large to fail, having steadily eroded the financial regulations and anti-trust laws in place from and before the Great Depression.

    They then failed. This failure was brought to the government, and the people, that they would take the whole economy down with them.

    They received the bail-out money under false pretenses (rather than buying and removing troubled assets as promised the government just borrowing the money to them basically rent free).

    They then proceeded to not use the money to increase lending, but rather to shore up their troubled balance sheets. To raise profitability, they then jacked up the rates on all of these ARM's (adjustable rate mortgages), increased the fees charged to customers, and have been all around ingratefully smug.

    What they have done, and continue to do to people is unconciounable, and their attitudes are still clearly evident in the responses to this post.

    Being a subsidiary of citi-group, this company is de facto citigroup. If their balance sheets are consolidated, then losses of the one affect the other, and doing business with this company, or working for them, is encouraging them to game the system again. They took us for 1.4 trillion in bad loans, and what was it 700 - 800 billion in tax-dollars this time, what will they take us for next.

    I for one don't want to find out, so I am boycotting all of these large "too big to fail" institutions. Subsidiary or not, they are the big boys, and they already got us good, don't let them do it again.

    1 Votes
  • Si
    Signifacntly smarter Oct 28, 2009

    Since this poster or is in imposter does not know what he is talking aobut let me help him with his errors.

    These companies are a drain on society. They produce nothing, they but feed on existing wealth, and often seek to take advantage of people for their own personal gain.

    I know he can't be talking about Primerica since Primerica is not a drain. It actually makes money for Citi. They are the one asset that is sellable . As for personal gain, since when is showing people how to get out of debt faster, be investors quicker, and protect your family more be bad?
    -------

    Companies such as this fired and shouted people down in the midst of the subprime debacle who dared to rock the boat when these companies were making money hand over fist.

    First the Subprime, Primerica was never in. Second the Adjustable Rate Mortgage is doing the damage, not SubPrime. And they never sold any of these mortgages. Matter of fact they lost money since they did not, because it is bad for the consumers.
    ----------

    Then they crashed our economy with their new-age economic practices, not realizing that we cannot all just sell each other things. At some point someone has to make something, and that is the basis for wealth, every manufacturing dollar is spent several times, creating several other jobs.

    I am curious what new-age economics he is talking about. Buy term and invest the difference is around for decades. It is not new. Making sure you are getting a decent return and buying low and selling high is key.

    Plus where do you think those manufacturers get there money. From investors, investors in mutual funds. This is where most of the stocks are kept, and where middle america can save their money.
    ----------

    But I digress, these politically connected institutions have gamed the system to become too large to fail, having steadily eroded the financial regulations and anti-trust laws in place from and before the Great Depression.

    They then failed. This failure was brought to the government, and the people, that they would take the whole economy down with them.

    I am curious are you under the impression that since Primeirca is part of Citi then they took money. Primerica was the only divsion not needing money
    IT makes and excess of 500 million a year, for Citi. It is worth over 7 billion dollars.
    ----------
    They received the bail-out money under false pretenses (rather than buying and removing troubled assets as promised the government just borrowing the money to them basically rent free).

    They then proceeded to not use the money to increase lending, but rather to shore up their troubled balance sheets. To raise profitability, they then jacked up the rates on all of these ARM's (adjustable rate mortgages), increased the fees charged to customers, and have been all around ingratefully smug.

    Primerica again does not sell ARM. So how can you consider that they jack up the rates? You must be getting these notes from some quack of an outfit.
    ---------

    What they have done, and continue to do to people is unconciounable, and their attitudes are still clearly evident in the responses to this post.

    Being a subsidiary of citi-group, this company is de facto citigroup. If their balance sheets are consolidated, then losses of the one affect the other, and doing business with this company, or working for them, is encouraging them to game the system again. They took us for 1.4 trillion in bad loans, and what was it 700 - 800 billion in tax-dollars this time, what will they take us for next.

    Now this explains the post. SInce a company is part of Citi, they are under the same negativity. By the same statement, all the insurance companies are bad since they took money from Jewish families and never paid for the death claims. Or let us look at the banks that did those ARMs, the customer service groups are bad because they are part of them. Or Volkswagen is bad because in the 1940's they wer caonnected to the NAZI party.

    Just because a company is owned by anohter does not make either company good or bad. Matter of fact all the paperwork says that each divisions are seperate and do not have any connection to each other. That would mean that even though Primerica is making money for Citi, Citi is the only one making money on that.
    ----------

    I for one don't want to find out, so I am boycotting all of these large "too big to fail" institutions. Subsidiary or not, they are the big boys, and they already got us good, don't let them do it again.

    I am so glad you are going to boycott these large intsitutions. Where are you going to buy your food? Remember that they are brought in by big corporations. Where are you going to get your heating oil, gas and gasoline? Same place. Where are you going to get your insurances? The same place.

    Enjoy your boycott.

    -1 Votes
  • Sh
    sherrymac03 Nov 09, 2009

    No one mentions the 100 thounsand people who are making money AND helping families. Don't forget as RVP with 3 RVPs you DO own your own business -- can sell or leave it to your heirs.
    Citigroup -- selling us, we want to go. They are the ones that did all those funny mortgages that came back to bite them. Our motgage clients ONLY received fixed mortgages!!! EVER. How's that for doing what is right for families.
    And anyone who thinks GOD shouldn't be first is totally wacked AND probably dishonest.
    Trips ARE free, thy are won -- Nothing drops in your lap and if you think money for this should -- you are right to leave. As anything that is worth have is worth working for. Yes we are salesmen, but there is so much more. We change peoples lives for the better.
    Everybody recruits, miliary, policemen, schools, churches, etc. -- that's not bad. If you don't grow you'll die.
    I hate the nay sayers they are just too lazy and selfish to work Ethically!!
    I've had many jobs and made good money, I am not destitute. What I do for others is teach them. Have someone with you leave their home say thank you for coming and mean is a blessing.
    The rah rah meetings are great for anyone who spent all day on a regular job with yucky people.
    THIS IS NOT A JOB IT IS A BUSINESS YOUR BUSINESS. WHICH WILL PAY OFF IF YOU WORK IT LIKE A JOB UNTIL YOU GET PAID LIKE A BUSINESS. Those that don't make money usually don't work at it very much.

    0 Votes
  • Bl
    blogthis Nov 24, 2009

    I think your view of Primerica is slanted, biased and misleading, to say the least.

    Primerica has among its reps a variety of people. Understandably, some people may not hold to the same standards of what constitutes unethical behavior, especially when money becomes a factor, or they simply ignore what they know to be ethical behavior. On the other hand, not all baseshops function as unethically as the one you dealt with. The baseshop I am involved with is quite different from the one you described.

    With respect to you being upset about Primerica not allowing you to run your business the way you want to, you have to understand that after a company has worked hard to develop its business model and brand, it must take the necessary steps to safeguard and protect its brand. Contrary to your feelings on this point, I feel, judging from the unwarranted reputation that Primerica has, it is actually not keeping a tight enough control over some of its reps' business practices. If you want a business that you can run anyway you see fit, you should consider starting your own business, independent from any other. If not this is one of the freedoms you should expect to forfeit.

    As a former food safety professional, I've seen first-hand the disastrous results when a company exercises loose controls over its franchisees. Lastly, there is nothing inherently wrong with a company offering a single product if that single product provides the best option among those available to its clients.

    0 Votes
  • Ra
    raison d'etre Nov 24, 2009

    My rep/RVP bugs me incessantly about joining up; I'm not interested simply because the model is flawed and skewed toward building that, shhhh, "pyramid "("network" to those who are offended by the reality of the word). Money not service is the motivation. If you're religious, it's called prosperity theology or an attempt to justify the material abundant life.

    I have tried to schedule appointments to discuss those wonderful products that I own that fell victim to the "greed" economy; the response: "come to the meetings". I hate those greed propaganda seminars. I just want her to do here original job with me as her customer.

    So I have been burned by the economy and the apathy of the RVP. Her time is spent on recruits baited with interesting products only to grow her paricular branch of the pyramid. There is absolutely NO concern or interest in what the products that she sold to me have done, are doing or projected to do.

    Delude yourselves all you want, it is a flawed model of greed disguised as benevolence.

    0 Votes
  • Tr
    truthbehold Nov 24, 2009

    The funny thing about all the NAYSAYERS is that they allowed themselves to be brainwashed! Why would I take advice or accept something as truth from someone who allowed themselves to be brainwashed? Think about that! Herbert Spencer once said, "There is a principle which is a bar against all information, which is proof against all argument in which cannot fail to keep a man in everlasting ignorance. This principle is contempt prior to examination." If it were a scam, multi-level marketing, pyramid scheme, or all the negative stuff the people above are saying, why would the United States Securities and Exchange Commission allow a scam, multi-level marketing, pyramid scheme, etc., file an IPO (Initial Public Offering)??? Hmm...maybe you shouldn't trust your government too!

    0 Votes
  • Ll
    LLLLLL Nov 30, 2009

    Ex-Primerican - All you had to do was stop right here: "...One day I was finally pressured to take my RVP to see a relative and I was shocked. They were paying $350 a month for life insurance, had a lot of debt, and no savings. On our 2nd visit we got them more coverage for $100 less per month, consolidated all of their debt and saved them $500 a month (& paid off their house a couple years sooner), and started IRAs for them."

    THAT Is the entire basis for Primerica, getting them out of the high priced piece of crap whole life when they don't NEED life ins. for their whole life - You did good! In my experience they never said they were the least expensive out there, they set their rates just as any other ins co. does, the point is right back to your quote above - that is THE reason to be with Primerica - to keep your relatives/friends for getting SCREWED by the others. Again, you did good and should be proud of that. Regards.

    And to the most current poster here (no name) who said: "...We weren't allowed to sell any other product outside of what Primerica had." You mean you were Div leaders, knew exactly what was going on in this most simple of businesses (life insurance) and you still don't "get it"? Sell other products - then you'd be an independent agent. I'd say there was something wrong with your thought process but your husband has the same exact one so that's not it... you both just don't get it and read waaaaaaaay too much into this simplest of businesses, being so skeptical to think there has GOT to be more to this. There ISN'T. Then you say "...The person who invited you in the meeting doesn't tell you anything until you get to the office and they show you a film." [talk to you, whatvever]. Well you WENT, then stayed for 2 years and became Div leaders, so you must have liked it then - I'm shaking my head at your wishy washy-ness.

    I'll just ask, how's the talking to people and saying 'hi, I want to talk to you about life insurance" routine going... not too good I'd bet. They run like you have the plague! Good luck in whatever business you end up in, just do yourselves a favor and don't over think it.

    0 Votes
  • Na
    nam, Dec 07, 2009

    I signed up with Primerica for life insurance and after I realized that I would not be able to afford it and asked for a refund over two months ago I was told that my check was in the mail. I still havent recieved my refund and can never get a hold of the rep who hounded me day after day until I made my payment. Something isnt right here. They didnt have to wait for two and a half months to recieve my money so it should not take that long for me to get it back. I am struggling right now and need that money but since I am not continuing my policy they could care less. That is wrong and I dont care what you people say who work for them and insist that it is a great company. I was a customer and would have considered using them again if they were not jerking me around right now. I have read alot of these blogs and it is my opinion that Primerica is no beter than there sister bussiness Citigroup who has screwed us out of trillions already. I just want my $130 dollars back so I can pay for a roof over my head so give it back already.

    1 Votes
  • An
    AnnaB Dec 29, 2009

    I agree that it is good Primerica reps are finally speaking up about a Primerica scam. If you want read about the truth, read about them here.

    http://www.askprimerica.com/primerica-scam-the-real-picture/

    0 Votes
  • Pf
    PFS Truth Sayer Dec 30, 2009

    Primerica is not a scam by definition, but it is not a very good "opportunity" either. I am going to explain the half-truths, lies, and misleading statements that are used by the Primerica reps to coax people into believing that Primerica is actually a good opportunity for them to become multi-zillionaires. I am also going to compare it to other opportunities in the industry to show how you get screwed by becoming a Primerica rep. DISCLOSURE STATEMENT: I am experienced enough to analyze this topic with a MBA in Economics, series 7, 63, 65 securities license, and 12 years experience in the financial services industry with Wachovia, Morgan Stanley, and AXA Advisors. I have never worked for Primerica. I declined the offer after doing thorough independent research, analyzing their own sales/marketing material, and speaking with actual participants.
    1)"If you join Primerica, you will be in business for yourself; therefore you must pay for all of the cost of your business (i.e. licensing, training, and office)" $99 to start then $25 monthly for Primerica online (additional fees will come for training and investment licensing, later.) First off, you are not in business for yourself; you are an independent distributor of Primerica/Citibank products and a select group of mutual fund companies. If you read the IBA's small print...Any assets or client accounts you bring into Primerica belong to Primerica and you must sign (not 1 but 3) 2 year non-compete contracts (1 investment, 1 mortgage, 1 Insurance). This is the way that Primerica/Citibank push their cost of sales off on their sales force. Reputable investment/insurance companies once hired will take you through a training program and pay for your licensing along with a higher commission payout and the clients are yours at the end of the day.
    2)"You can build a team of reps and get overrides so Recruit, Recruit, Recruit." I equate this to the equivalent of an "Insurance Salesman Mill." You have heard of a puppy mill...well Primerica's average rep makes 2.5 sales per year so the only way to keep new business coming in the door is to recruit new people, have the RVP work their warm market during "training" and have the new rep hopefully repeat the process, so that you have more people writing less business as opposed to properly training their reps to sell through seminars, networking, or acceptable referral selling practices. This is the ponzi scheme aspect of their business model. If they do not recruit, recruit, recruit the scheme breaks down b/c they are not replacing the 99% of reps that just left the company. The FTC has on several occasions analyzed this model due to the tremendous amount of complaints and concluded that they were not a ponzi scheme because they actually sold a product, but that does not change the fact that the business model is ponziesque in nature. There is not one insurance company in the world that would disallow you the opportunity to build a team of agents under you and the payouts would be much higher, so do not waste your time splitting your commissions with people who do absolutely nothing for your business.
    3)"Buy Term Invest the Difference is the only retirement strategy to use." I do not disagree with BTID for most low/middle-class investors. It is not a cure-all strategy. People who make over 100k per year need permanent insurance, people with complex estate tax situations need permanent insurance, some people who have built up cash value would be crazy to switch from an investment vehicle that grows tax deferred vs. taxable mutual funds. Also the term insurance product that Primerica offers is overpriced when compared with other like-kind carriers with exactly the same features. They must price it that way to accommodate their tiered commission schedule which is well below industry average and pays 4 levels above to people that do absolutely nothing to help you grow your business. (will discuss later) My ex girlfriend is the daughter of a SNSD and she wanted to get her CFP designation. He told her that she did not need it and it was just a "paper on the wall". The reality is that he did not want her to be trained properly, gain industry credentials and learn the investment strategies, sales tactics that PFS uses are not a cure all for every client and considered misleading and deceptive.
    4) Product line Analysis: 1) The term insurance is way over priced compared to other leaders in the industry. 2) The SMART LOAN product is 100-150 basis points (1%-1.5%) higher with higher closing cost than most other bank equity loan products. They try to sell this by putting the client on a bi-monthly payment plan and illustrate how they can pay it off in fewer years showing the interest savings, but its fuzzy math. You can pay bi-monthly on a 20/30 year fixed or pay an extra amount per year and accomplish more savings than with their rate so do not buy it. Do your homework and make sure you are comparing apples with apples on the amortization calculation.
    5) "Pay the Eagles and starve the Turkeys" This is an expression that has been used in the insurance industry for years. Basically this strategy is worse at Primerica than any other company I have analyzed or been a part of throughout my career. By recruiting, recruiting, recruiting... the reps at RVP level keep new business coming in the door because they tell new recruits that part of their "training" will be to offer sales leads from their warm market. The new reps set the appts with people they know (friends, family, co-workers) and the recruiter and recruited go on the sales call as a training session. Because the new rep is not insurance licensed yet, any business that is sold goes under the Recruiter's rep code (usually RVP) with promises of being paid back later. wink, wink. Also any investment 12b-1 fees that would normally go to the sales person is not paid to reps unless you are RVP level which does not happen at other companies. If you sell a mutual fund as a rep at Wachovia, Morgan Stanley or any other investment house you receive the annual management fee not the person that recruited you. Also the payouts at Primerica start at a paltry 25% where most other companies start out at 45-50% and go up to as high as 95%. If you analyze the income earners in Primerica...you will find that the +/-5 people making over 5 million per year and the +/-43 people making over 1 million per year are all a part of the original founders of the company who are on top of the pyramid. As long as the rank and file keep recruiting, recruiting, recruiting and washing out of the business in 6-8 months, the orphaned accounts that are left keep rolling up to their book of business. Also, if you are one of the naive 1/10 of 1% that get to 100k per year after 20 years and overcome your upline in income you are duly rewarded by him taking your best downline. So in reality they could care less if you grow a successful business because the top 5% get the business either way, either by washing out of the business and they get the orphaned clients or build a successful business and they take your best downline. Primerica's tag line should be "We sell false hope and a misleading, lackluster opportunity." So the bottom line is...If you want to sell overpriced, non-competitive products for a lower commission than you could get elsewhere, sign a 2 year non-compete to do that and also pay the insurance company for the right to do it, then Primerica is the company for you. My Advice: Work for a reputable insurance carrier that does not have to recruit people like "The Primerica Debate Team" to go to online blogs and write positive things about the company to counter act all of the negative real-life experiences from people who endured the ordeal.

    1 Votes
  • Kn
    Knowledgeable ONE Jan 02, 2010

    Since this person says he knows more with his degrees and licenses let me help him with his errors...

    Primerica is not a scam by definition, but it is not a very good "opportunity" either. I am going to explain the half-truths, lies, and misleading statements that are used by the Primerica reps to coax people into believing that Primerica is actually a good opportunity for them to become multi-zillionaires. I am also going to compare it to other opportunities in the industry to show how you get screwed by becoming a Primerica rep. DISCLOSURE STATEMENT: I am experienced enough to analyze this topic with a MBA in Economics, series 7, 63, 65 securities license, and 12 years experience in the financial services industry with Wachovia, Morgan Stanley, and AXA Advisors.

    First mistake. This person is not going after the same market. They are required to have clients with a minimum amount to invest. Depending on what company it runs from 50, 000 to 100, 000. Now since the middle american family does not have that to invest, why is this person comparing his knowledge and experience with that of a Primerican? Could ti be he is afraid of losing potential clients when they retire, or get layed off and have a 401K to roll over?
    ---------------

    I have never worked for Primerica. I declined the offer after doing thorough independent research, analyzing their own sales/marketing material, and speaking with actual participants.

    Well Most people with degrees feel entitled. It is something that the Present generation are expecting. Example: The American dream of owning a home. We have this melt down since everyone felt entitled to get a home, even if they could not afford it. (Adjustable rate mortgage.) But then again they do offer it to everyone.
    -------------

    1)"If you join Primerica, you will be in business for yourself; therefore you must pay for all of the cost of your business (i.e. licensing, training, and office)" $99 to start then $25 monthly for Primerica online (additional fees will come for training and investment licensing, later.) First off, you are not in business for yourself; you are an independent distributor of Primerica/Citibank products and a select group of mutual fund companies. If you read the IBA's small print...Any assets or client accounts you bring into Primerica belong to Primerica and you must sign (not 1 but 3) 2 year non-compete contracts (1 investment, 1 mortgage, 1 Insurance). This is the way that Primerica/Citibank push their cost of sales off on their sales force. Reputable investment/insurance companies once hired will take you through a training program and pay for your licensing along with a higher commission payout and the clients are yours at the end of the day.

    Well First I have covered this before, but here it is again. The IRS calls it a business. And we all know they do not like giving money back to people. So if they call it a business, why are you sayign it is nto a business?
    Secondly, All companies that want to stay in business make you sign a non-compete clause. Allstate is 2 years. My Company I make them sign a 3 year. This way the money that is given to the sales force is not lost if they leave for somewhere else and try to take all the clients.
    I like the way he said once hired. Allstate requires you to be licensed before you are hired. And then you get reimbursed. There is no training program. ALong with it is not 99 dollars and 25.00 a month, but the complete amount. Last time I saw it was over 1500 in licensing for 99.00 dollars. So you have to pay 1500 dollars to work for them before you get reimbursed. Sounds like another mistatement.
    Lastly, how can they pay more? I know because As I said it they sell Term as a loss leader. This means they use it to be able to pester and bug you to convert it to Cash or trash value policy. Those are policies that every honest and reputable advisor tells their clients to stay away from.
    ----------------------

    2)"You can build a team of reps and get overrides so Recruit, Recruit, Recruit." I equate this to the equivalent of an "Insurance Salesman Mill." You have heard of a puppy mill...well Primerica's average rep makes 2.5 sales per year so the only way to keep new business coming in the door is to recruit new people, have the RVP work their warm market during "training" and have the new rep hopefully repeat the process, so that you have more people writing less business as opposed to properly training their reps to sell through seminars, networking, or acceptable referral selling practices.

    Well first, your warm market is a network, so then they are selling through that. They also train on getting referrals, so that is done. As for seminars, there are so many legal hoops to do that, it is not the best way to build a business, that is based on warm market referrals.
    As for the 2.5 sales a year, yes that is because many people decide it is too hard to work. It is like the College graduate I was going to hire. He spent two days on the phone and then quit since he felt it was too hard to get a sale.
    -------
    -----------


    This is the ponzi scheme aspect of their business model. If they do not recruit, recruit, recruit the scheme breaks down b/c they are not replacing the 99% of reps that just left the company. The FTC has on several occasions analyzed this model due to the tremendous amount of complaints and concluded that they were not a ponzi scheme because they actually sold a product, but that does not change the fact that the business model is ponziesque in nature.

    Well is it a pnzi scheme or not. You remind me of the Statement Abraham Lincoln asked some one once. If you call a lamb tail a leg how many legs does it have? The answer is 4 still calling something does not make it so.
    -------------


    There is not one insurance company in the world that would disallow you the opportunity to build a team of agents under you and the payouts would be much higher, so do not waste your time splitting your commissions with people who do absolutely nothing for your business.

    Again you are wrong. In every sales organization, someone is making a cut on the sale that does not even see clients. You have managers that get paid on it, and VP of sales, and then Owners. SO this is wrong again.

    As for building a team, Yes they will allow you to build one, but you have to pay for them, and the training manuals and such. With Primerica, your upline does the training for you, if you can't and then they give you a portion of the sale. Most of the time you are not even there. You could be making your own sale, that is called duplication.
    -------------

    3)"Buy Term Invest the Difference is the only retirement strategy to use." I do not disagree with BTID for most low/middle-class investors. It is not a cure-all strategy.

    But this is the market that they go after. So it is perfect.
    -----------

    People who make over 100k per year need permanent insurance, people with complex estate tax situations need permanent insurance, some people who have built up cash value would be crazy to switch from an investment vehicle that grows tax deferred vs. taxable mutual funds.

    Then why does every reputable advisor say to stay away from these products? Why do they say buying insurance as an investment is foolish? (Wall Street Journal even said it) Who would use a wrench to hammer a nail? Why use a product that was credited to make the Insurance companies rich?

    As for the cash deferred vs taxable? Some mutual funds are taxable, it depends on how you set it up. Cash value life insurance takes up to 7 years of all the money, and if it is a variable, universal or a variable universal, those have a history of imploding and not being around when you need them.
    ---------------------------


    Also the term insurance product that Primerica offers is overpriced when compared with other like-kind carriers with exactly the same features. They must price it that way to accommodate their tiered commission schedule which is well below industry average and pays 4 levels above to people that do absolutely nothing to help you grow your business. (will discuss later)

    First, if you compare like to like you will find out that Primerica is cheaper. They have done the studies. But then you do nto get calls all the time to switch to Cash value. It has been said on this board several times that this is the reason why they sell term, to get around the do nto call list.

    Secondly, In every sales organization unless you are working for the boss there are at least 3 tiers if not more. In Mine I have a VP of Sales, Several managers and assistant managers and then my sales force. They all get paid off the sales. And Then I get my cut too, being the Owner. So I am not sure where you got your MBA but you might want to think about getting a refund.
    --------------------------


    My ex girlfriend is the daughter of a SNSD and she wanted to get her CFP designation. He told her that she did not need it and it was just a "paper on the wall". The reality is that he did not want her to be trained properly, gain industry credentials and learn the investment strategies, sales tactics that PFS uses are not a cure all for every client and considered misleading and deceptive.

    All this Certification does is teach you how to sell Cash Value. You should know this. The classes are set up to show the student how to take more money away from the client, under the guise of financial advisement. (Suze Orman said this)
    In California not so long ago, a Man was arrested for killing one of his clients he was trained but not in Plassdtic Surgery. Since he had those letter behind his name, the person thought he knew what he was doing. The same goes for thsoe with CFP and otehr letters.
    -----------

    4) Product line Analysis: 1) The term insurance is way over priced compared to other leaders in the industry.

    Reminds me of the Abraham Lincoln statement. Where is the proof? I have seen here and in person the proof they are less.

    2) The SMART LOAN product is 100-150 basis points (1%-1.5%) higher with higher closing cost than most other bank equity loan products. They try to sell this by putting the client on a bi-monthly payment plan and illustrate how they can pay it off in fewer years showing the interest savings, but its fuzzy math. You can pay bi-monthly on a 20/30 year fixed or pay an extra amount per year and accomplish more savings than with their rate so do not buy it. Do your homework and make sure you are comparing apples with apples on the amortization calculation.

    First, it is a loan to get you comopletely out of debt and not refinance in 2 to 5 years, which is the standard practice in banks and mortgage brokers. Does it cost more yes, but it saves you more.
    Second, Yes you can do a bi monthly program with all banks but there are big catches.A. YOu ahve to pay a yearly fee and pay for the privilege of paying your bill twice. B. YOur payment is not always credited immediately. This means they get your money and get to use it, without giving you credit. It is a interest free loan to your bank twice a month. C. They charge you schedule interest not simple, which means the get their interest upfront, no matter how much you ahve paid down your loan. This cost you thousands.

    Lastly, If you could save thousands of dollars by not having to pay interest on many you already given, not giving interest free loans to your bank, and take 10 to 15 years off your loan, saving you hundred of thousands, would you pay an extra $3000 dollars on a 300, 000 loan? Most smart people would.
    --------

    5) "Pay the Eagles and starve the Turkeys" This is an expression that has been used in the insurance industry for years. Basically this strategy is worse at Primerica than any other company I have analyzed or been a part of throughout my career. By recruiting, recruiting, recruiting... the reps at RVP level keep new business coming in the door because they tell new recruits that part of their "training" will be to offer sales leads from their warm market. The new reps set the appts with people they know (friends, family, co-workers) and the recruiter and recruited go on the sales call as a training session. Because the new rep is not insurance licensed yet, any business that is sold goes under the Recruiter's rep code (usually RVP) with promises of being paid back later. wink, wink.

    Well Since most RVP are not doing sale appointments, but are leading and training leaders, you are wrong here. Most training sales are done by Divisions or Districts, since this is where most of the sales force is at.

    As for paying back later, Would anyone give up 25 leads to get back 125 to 250, and trained on how to get those leads? I know that most sales people are always looking for leads and they train their people on how to get them. So the use of warm market is something good.
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    Also any investment 12b-1 fees that would normally go to the sales person is not paid to reps unless you are RVP level which does not happen at other companies. If you sell a mutual fund as a rep at Wachovia, Morgan Stanley or any other investment house you receive the annual management fee not the person that recruited you.

    I started several mutual funds with my agent upline. When he got his license he came over had me sign a transfer paperwork so he would get paid on it. I am not sure where you get your information but it is not correct.
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    Also the payouts at Primerica start at a paltry 25% where most other companies start out at 45-50% and go up to as high as 95%.

    Again your information is incorrect. They have a new program that sets you up to get at least 45% up to 70% right after you are licensed. This is on top of making money on loans and other items. With your companies, you need to be licensed first, and then get hired, which cost considerable amount of money ($1500) Where do you get you information since it is out dated by several years.
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    If you analyze the income earners in Primerica...you will find that the +/-5 people making over 5 million per year and the +/-43 people making over 1 million per year are all a part of the original founders of the company who are on top of the pyramid.

    I was waiting for you to use that word, PYRAMID. To make this short, the companies that you have said are great, are more Pyramidish than Primerica. This si because you will not be able to own your own business ever. Yes you can be an employee, a 1099 person, but then again you do nto get the benefits of working with primerica.

    As for those people that are making that money, They are not the original founders. There was 12, if I remember right. There are a lot of people making millions that have only been in business for 10 to 15 years. The company has been around for over 30 Years.
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    As long as the rank and file keep recruiting, recruiting, recruiting and washing out of the business in 6-8 months, the orphaned accounts that are left keep rolling up to their book of business.

    Yes that is true, but you get to decide not the sales Manager at those great companies you mentioned. Those companies can fire you any time. Primerica can only do it if you break the rules. But then you get to keep your licenses and go work for self or anyone else. By the way they have gotten the licensing process down to 30 days, whcih means you have a lower wash out rate.

    And as for the Orphaned accounts, it ahppens in all sales forces, the difference in Primerica, the Agent decides to not work, not the company decides to make it impossible. Allstate is doing this right now with their agents, closing offices, and making agents look else where since they do not have to pay commissions to agents no longer working for them. ANd then the special agents get to keep the new commissions.
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    Also, if you are one of the naive 1/10 of 1% that get to 100k per year after 20 years and overcome your upline in income you are duly rewarded by him taking your best downline. So in reality they could care less if you grow a successful business because the top 5% get the business either way, either by washing out of the business and they get the orphaned clients or build a successful business and they take your best downline.

    Well In the beginning it was your complete downline, and you moved a minimum 50 miles from you uplines office.

    Now it is a $10, 000 producing leg. It can't be your best guys since you are your best guy. Or do you think that someone below you is better than you?
    But you forgot the complete statement. After giving up this leg, you get to keep a leg of any RVP you promote. Now who would give up $10, 000 producing leg to get that same thing from all of the people you are teaching to become a RVP? I mean if you are good, you give up one and get 10 or more. Who would give up $10k to make 100k?
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    Primerica's tag line should be "We sell false hope and a misleading, lackluster opportunity."

    I am sorry, which one of the companies you say is great gives you the opportunity to get $1500 worth of licenses for $99.00 plus $25 a month training?
    Which company allows you earn while you learn, with making money on mortgages, car and home insurance, prepaid legal, whiel earning your life license and getting your securities license for free?
    Which one of those companies allow you to be part-time, and not risk everything?

    I look forward to your response on this.
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    So the bottom line is...If you want to sell overpriced, non-competitive products for a lower commission than you could get elsewhere,

    Please show us your Proof? Remember it needs to be apples to apples. The company can only sell Term, Not be connected with any other company, and is nto doing a loss leader. Please show us one company.
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    sign a 2 year non-compete to do that and also pay the insurance company for the right to do it, then Primerica is the company for you.

    Since every company makes you sign a non-compete agreement, if they want to keep their clients, from being poached this protects the company from paying all those commissions and then ahve you take the client elsewhere if you leave. Mine is 3 years, fro my sale staff. And I actually have a lawyer thatr goes after them.
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    My Advice: Work for a reputable insurance carrier that does not have to recruit people like "The Primerica Debate Team" to go to online blogs and write positive things about the company to counter act all of the negative real-life experiences from people who endured the ordeal.

    So by your statement they shoudl do the following:
    1. Pay more for their licenses. I mean people have all this extra money lying around to over spend. Is this what you tell your clients to do, OVERSPEND?
    2. Go with companies that ahve cheated their employees and their clients for decades. I mean they sell cash value to the wrong people. I mean 97% of those policies in place are nto going to be there when they need them, since they implode or cost too much. Then who gets tio keep the money. I know the Managers and higher ups who are still working for the company and the companies.
    3. Recruiting is something all companies are doing. State Farm ahs been after my main guys for years. Allstate will call on my best guys and take them out to dinner to court them. All companies recruit or they die. The difference with Primerica, is that we do not discriminate against people who want to learn about money, and teach and educate others about money.

    I look forward to your responses on this post.

    -1 Votes
  • Ki
    kino9081 Jan 25, 2010

    First and foremost,
    I completely agree with the financial product of term insurance, it has its purposes, especially for those with low income but it is not for everyone. Therefore, to only sell on product is completely misleading clients and can cause serious lost opportunity costs in the long run. Its funny that Citigroup the parent company has billions of dollars in whole life insurance, (COLA), as means of cash infusion but promotes a company only to sell term insurance. COLA, which can be found on tax return under Tier 1 Assets, is used for various reasons, none more important to the high paid executives who use it as a 'compensation plan/pension plan'. So right off the bat, would you work for a company that is parent company does not follow. Term would not work for the 412i plans, special needs situations and so much more. Each person is different as is their financial needs. Secondly, if you were going to go the term route why choose Primerica, their products are not even the cheapest. If you are looking to save money then why pay more. Thirdly, they tried to recruit a 17 year that I was mentoring to come work for them. Apparently, getting an education is not high on their priority. Also, the 'invest the difference' needs to be closely examined, be wary of the graphs and charts they show. Ask the question, what does the graph look like if taxes were included, what happens if you become disabled would you still have the funds to invest or have to liquidate it to cover health costs. What if tax laws change in'deferral plan', and now you're in a higher tax bracket with a large sum of money to paid. What if their investments are shot, and they are forced to retire, now they must take from depleted assets because someone showed them pictures and graphs of hypothetical situations 30 years down the road. Also, does your primary doctor sell shoes at night, does your lawyer sell computers, most likely not. I understand the concept of making ends meet, but a true professional works hard at their job and not hide the fact they may do other things. BTW, a security guard, asked if I wanted financial advise, and she worked for Primerica, no offense, but I'd rather work with a true professional with years of service and the body of work to back it up...

    1 Votes
  • Th
    The Knowledgeable One Jan 25, 2010

    This person is incorrect in some of the his positions. Since he definitely must be seeling the product, I can see why He might ahve been brain washed. I am using the Male vernacular since I am not sure what sex this person is.

    First and foremost,
    I completely agree with the financial product of term insurance, it has its purposes, especially for those with low income but it is not for everyone.

    If he believes that there is only the Rich and the poor then yes, he is right. Now if he considers the middle class then he is dead wrong. No one in the Middle class should have Cash value life insurance. Check out Dave Ramsey or Suze Orman.
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    Therefore, to only sell on product is completely misleading clients and can cause serious lost opportunity costs in the long run.

    Ok buying term and investing the differenc in a tax free item is bad? I am curious does he think losing your money for 1 to 7 years and then having the policy implode since it does not have enough cash to pay for the insurance is a great things. I have actually seen a policy that imploded in 6 years. (They ahve been trying to recruit me for years, but I am just not into building another company yet.)
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    Its funny that Citigroup the parent company has billions of dollars in whole life insurance, (COLA), as means of cash infusion but promotes a company only to sell term insurance. COLA, which can be found on tax return under Tier 1 Assets, is used for various reasons, none more important to the high paid executives who use it as a 'compensation plan/pension plan'. So right off the bat, would you work for a company that is parent company does not follow.

    Again this is a company, that is paying for this policy not an individual. And since he wants to compare apples and oranges, why not compare the cost of running a company versus a family? It is not the same thing. And yes they do have those items, but since they are not the best position, they only keep them since they ahve been paying on them for years.

    But since he is only saying half truths. 9/11 primerica was the only one that paid out deqath calims with-in 2 weeks. (were not hidding behind the Declaration of Waq clause.) Smitth barney had many deaths during that time, and many of those policies were paid out not by cash value but term. But then again the company was not paying for these policies the individuals do.
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    Term would not work for the 412i plans, special needs situations and so much more.

    Again this is a penson program. How many individuals do their own pensons plans? I do that everyone can have a Roth IRA and it is better to have a Roth and term than a cash value plan.

    But he is clouding the waters by bringing in things.

    Term also is not good for dead people too, but he did not include that?

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    Each person is different as is their financial needs. Secondly, if you were going to go the term route why choose Primerica, their products are not even the cheapest. If you are looking to save money then why pay more.

    Cheapest is the not tghe best. If you want a cheap car, I am sure you can get one of the wrecks cars that they cut half the car and weld it together. I heard they are safe as long as you do not drive it. Cheapest is never the best.

    But in the last year everyone else is raising their rates. mine has gone down, again. I am curious why People keep going with the cheapest.

    As for paying more, if you get better service. A better product. More options. Be there when my family needs it. I am curious who does this guy suggest, AIG? or one of the otehr companies that will harrass you to convert until you dump the policy. That is not service that is harrassment.
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    Thirdly, they tried to recruit a 17 year that I was mentoring to come work for them. Apparently, getting an education is not high on their priority.

    Big LIE. You can't recruit anyone under the legal age of getting a license. I am sure that he would love to give me names but then again, he is know for telling half truths

    As for educations, Since they train internally, why do you think they need education? They need passion. They teach and counsel and control them completely. The make sure they are not breaking the law.

    And what education are you talking about. Most classes out there are there to help you sell cash value. And everyone knows that this something that is not good fo the Primerica's market. Just look at Dave Ramsey, and SUze Orman.
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    Also, the 'invest the difference' needs to be closely examined, be wary of the graphs and charts they show. Ask the question, what does the graph look like if taxes were included,

    Let me ask this, Is a Roth IRA Taxable? NO So why do they need to worry about taxability? I know to cloud the waters again!!!
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    what happens if you become disabled would you still have the funds to invest or have to liquidate it to cover health costs.

    This is something that it is strange. If you have Cahs Value Life Insurance you are required to count it as your inclome/Assets for Medicare. So why does this matter?
    Now if you ahve disability insuruance, if this is what he is alluding to, it is cheaper to buy it from work or bank that to go to an insurance agent. But Insurance Agents rather not tell you that.
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    What if tax laws change in'deferral plan', and now you're in a higher tax bracket with a large sum of money to paid.

    Let us say they change it. All plans are Grandfather here. And if it changes then you change. But to buy insurance and use it as an invsetment. Even Wall Street Journal says not to do that.
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    What if their investments are shot, and they are forced to retire, now they must take from depleted assets because someone showed them pictures and graphs of hypothetical situations 30 years down the road.

    Yes but then again you need to adjust as you get closer. The reason why people are having trouble is they had to put them selfs in higher risks, since they did not save when they should have
    Remember either you have time or money.
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    Also, does your primary doctor sell shoes at night, does your lawyer sell computers, most likely not. I understand the concept of making ends meet, but a true professional works hard at their job and not hide the fact they may do other things. BTW, a security guard, asked if I wanted financial advise, and she worked for Primerica, no offense, but I'd rather work with a true professional with years of service and the body of work to back it up...

    I am glad you brought this up. Here is the comaprision. Do I want a person who is making money off me, be thinking about his bills and how he is going to make them, or that the fact that he is doing this to make extra money? I guess you missed all those advertisements about how brokers oonly call when they ahve something to sell. This is a great example of professionalism. Yes they are not in that profession making all their money from it, but then you do not have to worry about them thinking of themsleves and not you.

    As for being a true profesional, these are the ones that have been caught on TV selling the wrong stuff to the wrong people. Breaking the law. They are also the ones that keep clouding the waters with half truths, and information that is not pertanent to the client.

    0 Votes
  • Co
    collegekidny Feb 05, 2010

    You people say that the guy on top just keeps recruiting people to make them work for them?? How bout your job?? Doesn't it say, "Just Obey your Boss"?? Isn't he making $500 out of your salary of $10.00??? Think about that?? In Primerica, you do whatever you want to do and whenever. You're the boss of your own business. If you want to be aggressive, get some clients and recruit people. No one's pushing you to do it. You can start it out as a part time job and then later on if you think you're stable enough to leave your full time job, then do that. People just doesn't understand the business. Also, it's not only about making money here. If you look at the good side of this, we are HELPING FAMILIES.

    By the way, Primerica only wants to sell Term Life Insurance is because they know it's the best and that's what they want people to have. They're not like the other companies out there who's just trying to make the most out of the clients. If you do your research and compare Term Life Insurance and Whole Life, check which one is best for you. Then that's when you should start judging.

    1 Votes

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