Consumer Complaints and Reviews
I joined Primerica because they were the first and only people to actually care enough to TEACH me how money works and other imperative concepts I did not learn in school or anywhere else. They have NEVER pressured me into anything. They say knowledge is power, but APPLIED knowledge is power. If you learn and do nothing with that information there is no progress and that is all a personal decision. The rich stay rich and poor stay poor based on ill-informed sales, greed, keeping people in debt playing on their lack of knowledge in this area, and selling products with no education behind them other than personal gain.
The rule of 72, the harm in waiting to plan and invest, the importance of life insurance to protect family and assets, making sure to always read contracts and policies thoroughly, and being given the education to be able to make decisions based on knowledge, values, and options not just money is beneficial REGARDLESS of who you do it through or for. I was shocked that as an educated woman I had no prior honest experience or information in these areas.
Some of the reviews of this company are based entirely on the MONEY you can or cannot make, and speaks NOTHING to the immense moral value the company places on education. FREE EDUCATION. When I invite people to the overview it is ALWAYS in good faith because my peers, family, community, etc. NEED this information. It is never with the intention to solely recruit them but to expose them to something positive and if it resonates with them - give them the option to move forward with a free FNA, potential part-time/full-time business opportunity, referrals, or just to have learned something new. NO PRESSURE.
I also attend class FOR FREE every Saturday on numerous areas of finance and education. The company, its environment, its outlook, its mission statement, and my RVP is all FOR THE PEOPLE and the ONLY company genuinely concerned with providing options and education to the middle class. Exposing injustices, and correcting horrible wrongs whole life insurance has done to people for years is not a scam, its a good thing!
Seems to me like many of the people with negative reviews on the business side of the company have the same selfish and SCHEMED mindset on wanting to get rich quick, making high commissions by any means necessary whether it is right or wrong for people, wanting to sell products AGAIN providing no education on how they work, etc. which is why it WASN'T FOR YOU. Furthermore, all of the people complaining about the $99 fee that pays for a background check and pre-licensing?! Ninety-nine dollars!? You guys are talking money, money, money yet complaining about a hundred dollars, and an OPTIONAL $25/month to access all of their helping tools, self-improvement audio and books, training material for licensing, videos to help guide your business, a turn-key and streamlined portal to input and execute business, and comprehensive factual answers that debunk all of your false theories.
I was given a clear picture of how everything works on a business and personal side with no smoke screens or facades. I did NOT have to move forward on the business side, but I did because of what we do for families. I got FIELD EXPERIENCE prior to moving forward and took as long as I needed to realize how genuine they are. I am now licensed, and aware that I get paid based on the work I do. Some reviews complain about our Term Life policies being overpriced, yet also speak of the turnover rate and how 'little' people make in the business. Those don't correlate. But considering that perspective, I would conclude that is because for MOST in the company it is not JUST about a dollar amount. If it is just about the money for you and others reading this, you would probably best fit with a company of greed.
Term Insurance pays the lowest individual commissions out of all types of life insurance yet we are able to get people proper coverage based on what they NEED not how much they can afford (how most companies start the conversation) because we don't mask it by being tied as an 'investment'. Life insurance is NOT an investment. The money you make in the company is stack-able and revolving, and it takes GRIND and HUSTLE to do it both of which MOST DON'T HAVE. There is big money to be made with the company, IF you put in the work, and I was made well aware that most DON'T make it because people don't have the capacity to want to grow, stretch, or change. You get paid what you're worth, for the amount of work you do, and for doing THE RIGHT THING. THAT is amazing.
Unfortunately we live in a world where that is usually too good to be true, all so used to being taken advantage of with money and products, that people are now making blind determinations about this company as well. I am 25 years old and now have proper coverage for myself and child (didn't just go with what I was told researched other options on my own as well), have multiple investments for retirement - short term and long term better than ANY bank would offer, and emergency funds. I now feel confident in my financial picture, am almost completely debt free, and based on what PRIMERICA has taught me and others - everything I do and every decision I make is entirely knowledge based.
We are ALL (or should be) smart enough to know that there are bad seeds in any situation, some utilizing this platform for personal gain and that is unfair. It is also unfortunate that some of your bad experiences, for whatever reason, lead you to judge an entire company and spread misrepresentation. I invited two good friends (or so I thought) to an overview JUST for them to learn the financial concepts listed above and they in turn decided I was part of a scam, a pyramid scheme, that I was being taken advantage of and trying to game them, condemned my character and good judgment, made a statement about me as a person and a mother, and LEFT BEFORE IT STARTED. I had never felt so belittled in my life! Come to find out, they got ALL of their information from A BLOG and this site. They made a complete and utter judgment of my intentions from skewed reviews.
From people that have no field experience with the company, who never even got licensed, who sites ** as the number one source of proof. How uninformed and mislead. Some speak of the fact that we don't disclose the name of the company to trick people, however look at the false information they will find if they do, before even seeing how much good we do. People NEED assistance, need advocates, need someone showing them their options and the ins and outs of their current situation and how to better it. If someone is pressuring and forcing this transaction, THEY have their own motives. NOT the entire company. Primerica has been the odd balls of the financial world for 40 years because they have been fighting for the RIGHT thing, for PEOPLE, for education, and for a voice.
Throughout history, anyone or thing that revolutionizes something that goes against the money and greed focused way of the world is always condemned, and you are helping that. You say you do all this research? Research the history of the company, how they were founded and what they went through to do what's right. The people involved with PRIMERICA for the right reasons, the reasons it was intended and thrived for, market and sell EDUCATION, and if someone then takes that knowledge and applies it by putting a beneficial product in place for them and their family, that's how we get paid. PERIOD. I encourage everyone who read this blog and the OPINIONS expressed, to take MY EXPERIENCE to heart and see for yourself objectively. I would love an analytical and impartial response back. Thanks.
Non-payment - My dad died 12/14/2016, all paperwork filed thru funeral home on 12/16/2016. This is 3/1/2017. I have not received my claim. I have on record calling 5 times to be on hold 15-45 min each time, if they answer at all. I have been told a different excuse each time. The newest is they have the wrong address for me, so the check was returned to them, yeah right, but no one called me to reconfirm my address. Ha... They verify your name, claim number, Phone number, DOB of deceased each time you call. But now they have wrong address... This company is a Fraud... must be something to be done. I will not quit.
Don't let some bad reviews stop you from making the best decision of your life. I am a client of the company and have been for several years. Our financial adviser has properly protected our family and set up different accounts for retirement and our children's college savings. They are a blessing and should get so much more credit for their hard work and determination to help the middle class. I do see negative reviews about working with the company and I would suggest taking into consideration who is trying to recruit you.
I have been a member of Primerica as a shareholder (mutual funds) since 1996. I have read a few bad reviews about this company, but my experience has been consistently first-class over the years. I am not reviewing Primerica as an employee or as a life insurance customer, simply as a mutual fund customer. The website and customer service functions are friendly and easy to use. Thank you.
This company is an absolute scam. The recruiter signed me up and withheld important information that there would be more than just a 99 dollar fee. I later found out doing my taxes 7 months later that they have been taking 25 dollars a month in addition to the 99 dollar fee that was supposed to be refunded to me the day after I was signed up and practically lied to. This Steven character is full of ** to put it nicely and his sole interest is scamming and making himself money. ABSOLUTELY DISGRACEFUL. He tried to tell me by signing up with only 99 dollars I would take a test to become a financial advisor with just as much credentials as our family friend who has been a Wells Fargo advisor for years.
I spoke with our family friend and he advised me to beware of this company and the next day I quickly told Steven I wanted nothing to do with his company. He promised a refund of my 99 dollars and I took his word. Later like I said 7 months have gone by and I see that charge of 99 dollars wasn't refunded and there was 25 dollar fees each month that was never explained. They are professional hustlers. BEWARE!!! I am trying to obtain my STOLEN funds and I'm having zero luck. They have stopped answering my calls and emails, and Customer Service is a train wreck. STAY AWAY!
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Sat down for an initial policy review and comparison. I was told that their policy was superior, I believed them as I know very little about life insurance. I tentatively agreed to cancel my current policy and begin new policy pending a health exam. I waited a few weeks to schedule the exam, but heard nothing from Primerica or their reps. I got an approval letter from Corporate in the mail a few weeks later and saw money starting to be taken from my account. I still hadn't gotten a health exam which I thought was necessary to be approved. I didn't have a policy in my possession, yet month after month my account was debited.
I made multiple attempts to get my policy delivered, but was ignored. I made attempts to call and email my rep to stop payment on my account as I was paying for two life insurance policies as I had thought the new Primerica policy wasn't going into effect yet. Months later I am still trying to get a hold on my payments and cancel my account. This company is full of moonlighting insurance agents that don't have time for you. I am sooo frustrated with this organization.
I am a client of Primerica, not a representative, and my experience has been superb in all aspects. The company truly stands for what is right for the consumer evidenced by their philosophy of 100% Term Insurance. I believe there is no company out there willing to provide only 100% Term Insurance for its clients even though the commissions are not nearly as juicy as other type of life insurance products. I follow world-renowned Suze Orman and Dave Ramsey and their teachings very much reflect those taught to me by my Primerica representative. I really love their educational approach and their mission helping educate families financially.
My representative is very professional, knowledgeable and truly cares about my financial well-being. Throughout the years he has demonstrated to have a heart of a teacher. Their complimentary and personalized Financial Needs Analysis is an instrumental tool to make you aware of where you are standing financially and what measures need to be taken to achieve your goals. No other company has ever offered me such tool as a complimentary service! I take pride in the Company and the fact that it is highly rated and regarded by reputable organizations such as the Better Business Bureau, A.M Best and Forbes. Overall, I Highly recommend their products and services.
I have been educated and provided so much information from the moment I met my agent. I'm so glad this company exists! This company is rated a+ by AM Best, it is one of the 50 most trusted according to Forbes, and they do 100% what is right for their clients.
Been with this "investment" company for over 7 years. Total waste of time. Gain like $100 in this amount of time. When I went to close the account on January 2017, I was charged a full year of investment $25 and $35 fee for closing it. This company is a total waste of time and money. Customer service rep Grace had no interest in helping. So, if you want to invest your money, do it somewhere else. This company will give you nothing.
The reason I give Primerica 2 stars is because I wanted to make it big. I worked harder & a little more, I saved money & a little more, I wanted it so bad & a little more, I was the last to leave the office & the first to show. Problem is with multi levels the market gets saturated & message watered down. My first 3 months out of the gate I was promoted to district leader. I was top district leader in the state for the next 3 months. We had a trip to South Carolina for fast start training. I was top district leader & I didn't win any awards. I asked why I didn't go on stage like the others. They said "you ain't doing nothing." I guess they were right, my best month as district I made $800 dollars. But at the same time I gave it all I had, and Art Williams said "all you can do is all you can do, but all you can do is enough." And that's what I was doing, I wasn't making money or getting an award. I was crushed...
I got securities licensed and had over 500,000 under management within 2 years. But I couldn't pay the bills. One night I was on a dirt road, my headlight fell out of the socket and I broke down & cried. I tried so hard. and this was my lot in life. My car broke down another time, I was in the most elegant part of town, as I was leaving my car smoked & filled the whole neighborhood with smoke, I pushed the car a few blocks away until my RVP came & got me. I was almost over the hump, I recruited an ex Yankees baseball player. Then 2 weeks later my RVP went off on him & the 30+ people under him we had recruited quit.
I met with another RVP to move my license and network because my RVP was a psycho. But I just didn't have it any me as I was making more in real estate and saw too many broke agents. I kept my license active. My RVP divorced and the wife RVP who stayed active told me to invest all my money in Citi stock. I had 120,000 in Citi stock. Then 9-11 hit. In one week my 120,000 went to 16,000. I was furious and went into depression (It was illegal for her to recommend stock when she is only licensed in mutual funds). I said ** it & let my license lapse.
The reason I gave a 2 is because the motivational talk has helped me in life. Otherwise my experience in many ways has ruined my life. In the 90's while licensed part time with pfs I did real estate full time & made 100,000 plus in real estate 3 years in the 90's. I'm still in real estate & in the 2010's have 2 years of over 100k annual earnings & this year on my way to make 250k plus. I would recommend Primerica to those wanting a positive feeling and to learn about business part time. However, I would recommend that you don't go to the meetings (just like Art Williams founder says). Instead set 3 appointments a day for 3 years (just like Art Williams founder says), save your money over those 3 years, then based on that evaluate your next move.
Also, I have a few past clients around town who are completely financially independent due to the motivation we gave them to save & pay down debt. Also, I paid a 1,000,000 dollar death claim to a spouse of a man who had several businesses in town when I was licensed. I would be willing to join Primerica again, but I would only join direct under a 1,000,000 dollar + annual earner who saw the potential in me & came to my area for 9 months to retrain me. God Bless.
My mom had insurance with this company for years and paid. When she passed on 6/2016 we got papers showing insurance for her children to get a lump sum. I contacted the company, sent her death certificate and they said they couldn't pay because of 1 paper she didn't send in before she died. But she had paid up to the day before she passed. Never will do business with this company. I got my insurance with another company.
Clearly, I can see the bad reviews are from individuals who did not pursue to even get a life license with the state to make income. But yet, they want to sit back and complain that the company is a scam!!! Lol. This company is not for the lazy. Not everyone can do it. Especially people who want their ass wiped. This is for the entrepreneur mind set only! Been licensed 2 months now and made almost 2k part time both months. If you don't want commission pay then stay with your 9-5. It's funny seeing all these bad reviews. Too bad, you guys let a great career opportunity get away. I truly feel bad for you.
As many have said, I also felt for the "Job Interview" invitation. They said they were looking to hire and that was a good candidate. I went, and it was Primerica... I was upset as I attended a previous meeting before in a friend's house. They will PUSH you to provide names of friends and family. Do not give them these numbers. You are not licensed to sell and as such you cannot sell. They just want access to your warm market. Anyhow, Primerica uses MLM marketing similar to Amway, Herbalife, Nuvee, etc. Check Wikipedia: It clearly says they are MLM (some people deny it). According to their own financial reports, the average Salesperson makes about $6,000 a YEAR!
Don't pay attention to Facebook Reviews, I complained and my account was blocked. Check Youtube and you will notice the vast majority of the videos (up to 95%) are about "Recruiting" or introduction to the business or "Success Stories" of how much money they are making. Very few videos about the real business they do, Term Life Insurance. They also claim you do not have to invest in inventory, BUT you have to pay $25.00 minimum for Primerica Online, their Web Application. Furthermore, you most likely feel force to buy their own Life Insurance which is rather overpriced compared to others. Ultimately, the decision to join is yours but if you decide to join, remember to keep the best contacts (family/friends) to yourself. Best wishes.
I was 49 when a customer of my wife's processing company ask for an appointment with her and I to explain his business to us. We learned more in 30 mins with him than we had in our entire life's about finances. We were in a pickle financially and by following his coaching tips and joining the company our lives are forever changed for the better. We qualified for the Regional Vice President's position in just 6 and now not only are we 6 figure income earners but our daughter and son in law are also 6 figure income earners. This company has delivered on every promises and more. But it is a real business. If you don't work it won't pay you like it has us. But know this, if you do it will pay you and give you freedom like most people only dream of.
My father passed away on Nov. 14th and I began his death claim the following day. After calling in they advised me they will be sending out paperwork for me to complete. Well I then decided to contact my representative whom I purchased my father policy through and met with her to get the main paperwork completed and notarized. This was done on 11/17 and I was told it was faxed and FedEx priority to Lynda ** who was appointed to be our adjuster. Well the next week comes and still no paperwork from Primerica. I call them and they advised me they have not received anything from me nor was Lynda in the office for the week. Once again I contacted my insurance rep and she confirmed she spoke with Lynda herself and the paperwork was received. I gave my rep my father’s death certificate on 11/22 and was told that it will be faxed and shipped out the following day.
Since it was a holiday week, I chose to be understanding and will resume the claim on 11/28. On that Monday, I finally received the paperwork that was supposed to be sent out on 11/15 which 2 sheets could've been given to me for my father's doctor to fill out when I originally met with my agent on 11/17. Now I had to chase down my father’s doctor and miss days of work when I had time off 2 weeks before. So my agent gave me a number to fax the paperwork to and I'm assuming it was directly to my adjuster but it went to her! I have yet to hear a single thing from Lynda **. So once again I try contacting Primerica to see where my claim stands and was given very minimal information but was advised I will be getting contacted by a third-party for an phone interview which is fine. My father’s policy was a little less than 2 years so I understand.
All of this happened in a chain of events which threw my entire family off guard. I received that call on 12/1 and then received more paperwork on 12/5. As usual I promptly get all documents in. This is the 4th week of me running in circles with no answer in sight! My agent tells me this is common, but when it comes to someone wanting to put their loved one to rest, there needs to be a better system in hand. A link for all paperwork to be printed by clients, a list of important items to have ready and adjusters contacting and updating families. I am 9 months pregnant and am being as patient as possible but imagine having your father body sitting in a mortuary and your family under distress because he has yet to be laid to rest.
MLM requires two things for participants to make money: recruiting and buying products from the company. Primerica does not require either, which is why I chose to be an independent contractor with me. Primerica is Direct Sales, which means you are an independent contractor with your own business. Yes, they recruit, but that is how they get new people and pay people for the time and energy they put into you. (BTW -- tech companies routinely give bonuses for recruiting.) There is a high cheesiness factor with all the meetings and positive thinking, but none of those activities are required. You are able to conduct your business in any manner in which you choose, as long as you are legally compliant and have high ethical standards.
All licensed agents in California must go through 32 hours of mandatory state licensing. Including 12 hours of ethics training. Primerica offers this licensing at a fraction of the cost of other places. And, it is identical to any other licensing -- because the insurance industry is highly regulated. A person pays $99 for this training, $20 of which goes to your background check.
Finally: some people have complained that they were automatically charged $25 and were not able to cancel. However, as a new rep, I was given a clear option to opt out of this service and told I could get a refund for my first month's subscription. This information was in the TOS, which was not in legal-ease, but in plain English. I also asked my Rep about this requirement, and he told me the same thing. Opting out means you have to go online and cancel. You cannot call. So, those complaints were made by people who did not follow the instructions.
I joined Primerica with the impression of establishing financial freedom. This is false! They are just out to line their pockets! After discovering what the business was really about I can say it was too late. I was forced to pay a membership fee for an app to keep in the loop. Shortly after joining I decided to not continue with them. I called and cancelled my membership so that they can stop charging me with the confirmation that my membership was cancelled and that I would no longer be charged for their app.
After reviewing my bank account I see that they continued to charge my bank account. I called them to see why I was charged. Their customer service is the worse. With sighing and loud talking by the people they have representing them. I am disgusted! After spending hours trying to get my charges reversed and unable to speak to a supervisor. They are denying me a refund for payments I cancelled 3 months ago. The best they can do they stated was to refund me for one month!!! Is this some type of joke of company??? Never again!!!
I want to state Primerica is one of the most trustworthy financial companies out there. They are rated 99% in forbes magazine. They responded when 9/11 hit when other companies sat on their hands. The founder made a public announcement to make sure all underwriters issued payments to the families that where lost in 9/11 accident who were insured with Primerica. Due to act of war terrorism and suicide other companies refused to pay out. I have enjoyed revealing the truth about other companies and the products that are being sold to families that are consider to be "life insurance" when in fact they are loans. I was a victim. If someone is trying to sell you Perm insurance over term please make sure you know what exactly those types of insurances are.
Perm insurances are loans. Dont get suckered in by a life agent who wants to just make a commission off of you. Primerica does whats right for the consumer 100% of the time. I have worked out of the LA office and The riverside office and has been a great experience. The knowledge gain is something no one can take away from me. Its not easy to be a life agent. Primerica has set it up so if you follow the steps you will be successful at what you do but just like your JOB, you have to show up to get paid, you have to put in effort to be successful at this business. It doesnt happen overnight. No one promises you will get rich overnight. Anyone promises you that run away.
Helping families is a great way to make a living and here at primerica is what I have been given the opportunity to do. The first months dont expect to make money right away, get training and get your license so then you can start making the money you desire. I promise you, you wont regret it!! Dont listen to those people who tried it and gave up! Listen to those who tried and are doing it and are successful at it. I promise you they will show you how and give you any information on how you can be where they are at. They are open books! Believe in yourself!!
From start to finish I spent 4 or 5 months in two different offices. I gave it my 110%. I was in a real financial mess. I'm giving them one star because they did have some really good debt management help. I studied really hard. The exams were brutal. Apparently they are in Ontario now. I passed on the first try. I went with two offices. The second one being one that was really successful. Or so I thought. I trained with more than one person. I did about 3? sales.
I did not get paid on my own life insurance. I did not get paid on the seg fund I sold because apparently it's not enough to get paid on I was told. I didn't get paid on the other 2 because I wasn't licensed for mutual funds. I didn't get paid because I'm so low on totem pole. I don't get paid. It's not worth it to cut me a cheque for 5 bucks a month. You are expected to go to consortiums, conferences, events. Wherever you are told they are. No matter how long it is. If it's a weekend in another country or a week, you cover all of your own expenses. All it is is people talking about how rich they are and the audience yelling amen! Like... a cult.
Overall they tell everyone that they would make great agents. They totally have amazing personalities and they can see success in their future. They will make RVP. They pay you some attention too in the beginning. Really make you feel like you belong. They will tell you how much they love your children and how special they are and how much they want you to succeed. Then when they see that you have run out of contacts and they don't like your ideas to generate business. They start to ignore you. I pushed it and said I want to be successful. I got yelled at and told off. I got told they didn't care about anything except making money. I did call the head office. I got told that nobody has time to micromanage someone who has no confidence.
I was so just done after this. I took a breath and I did 2 interviews with two other insurance companies. I wanted to know what the difference was and why Primerica trashes the first one I went to. I had to go through 2 interviews at each one and fill out a really long personality questionnaire. The first one turned me down. The second one thought I was great. This was a job interview I had to go through.
Primerica is great to get your license. It's a really cheap way to do it. Their products are legit. Maybe expensive but they are legit. That's where it ends. They changed the LLQP because of Primerica. They mass recruit and tell everyone they are great when they aren't and then it wasn't too hard to pass the exams. Now the exams are really hard so it puts a damper on what Primerica does.
I really wanted to believe in the company but I can't. If you go to a few interviews with different companies you will see a big difference in the professionalism in the agents. They dress more professionally. They drive better cars. I was training with a guy who had been there for over 7 years and drove a crappy old car. How come after that much time you aren't making big bucks? I think if you want to get licensed through them it's great! I'd leave right after. It's next to impossible to make any money. Their failure rate is unbelievably high. I can only get a job in the industry because I already have a license if I didn't I probably wouldn't. So if you are serious I would recommend Primerica just to get a license then leave quickly! Don't look back!
Bottom line up front (BLUF) - My story pretty much echos most of the stories in this link, which also tells you everything you need to know. 2 stars because all in all the person I dealt with was cool about it and very polite, but I just can't bring myself to give 3 stars. The Primerica recruiter (let's call them PR) did tell me the name of the company and that it was a financial type business that they were starting... but I am terrible with names, otherwise I would have done my research and saved myself the waste of time.
Anyway, I got a call from PR and invited to an "open house office" at 7PM. Odd time for pretty much anything, but for some reason, I guess overactive imagination, I pictured a rustic home office (being that it was "just started" by this person and their spouse) in the suburbs and I was being invited over for dinner and get-to-know-you before you start this "awesome" job. Anyway I digress - the time comes and I am running a few minutes late which had me all upset but was probably to my advantage.
I walk-in to an office inside a business complex with a large (30 or so) crowd seated to a powerpoint presentation. This should have been my first red flag but I didn't really think anything of it... I find a seat and as this speaker is talking... the crowd starts hooting and hollering for NO reason! I say to myself okay... they are giving a standing ovation, again I can see no reason so I stay seated with my poker face, looking at my wife who came with me, like what the what.
So then the speaker starts introducing other speakers complete with theme/hype music (yes at this point the red flags start going off) and again random shouts like "YESSS!" and "We're number one baby!" (Umm where am I? I'm 40 years old and high school was a LONG time ago). Anyway, to not appear TOO rude I give the occasional golf clap and even stood once for a few seconds, but seriously, am still a little puzzled by the crowd's "acting." Well it didn't take me too long to figure out this was a pyramid - oops sorry, a Multi-Level Marketing. MLM is the legal version of a Pyramid. Yes it is technically not a scam, and it is legal (moral is another question) and it's legit, because they sell stocks and shares and their customers are willingly buying a service, after all.
So finally the head sc... I mean, honcho gets up, bragging about how much he makes etc etc. This has been dragging on a while and we go to the bathroom. That's another thing. After a goshdarn hour and a half people are either on board or they're not, and they aren't gonna be swayed by your life story. The song "Cult of Personality" came to my mind at this point.
Also at this point he pretends to not rag on the people who left (but yeah he was ragging on them). Wait, people have left already?? I told my wife, "Let's go" but she wanted to wait for the next standing ovation to draw less attention. When that FINALLY happened, we made our quick exit and PR was standing right by the door but without hesitation I nonchalantly walked out. PR followed. "Are you leaving?" Well it sure looks that way, right, but I smiled and said "yes we have to get going" not slowing down my walk at all. "Not interested?" PR asked. "Mmm, not really, no." So again, to PR's credit, PR was nice and remained professional. But to be safe I've blocked their phone number. :)
What is Primerica? It's a Financial Service Company! They offer many different services. Yes they have actual products that they sell. I purchased a life insurance policy through Primerica. I was a Regional Leader for Primerica as well. I let my life license expire a few years ago but I can tell you I only have great things to say about Primerica. As with every career choice, there are good and bad people. Teachers, cops, waitresses, etc. There are great ones and crappy ones! Same goes with Primerica leaders. You cant Judge this company off one of their crappy leaders. Just because you have a horrible server at your favorite restaurant doesn't mean the entire restaurant sucks! That server sucked!
When reading all the reviews I had to laugh at one particular post. It was about a man that had a life insurance policy that his daughter didn't know about. For some reason he had stopped making payments so the policy lapsed. She learned of his policy from bank statements. She could see that he paid for many years and then stopped making payments. Her father passed away and she was upset that he had paid for life insurance for many years and now Primerica wont pay the death claim!
OK let's think about this, you bought a car 10 years ago, you called LLL auto insurance to insure your vehicle. You pay $100 per month for 10 years and never got into an accident. For what ever reason you stop paying your insurance premiums and have an accident. Does your auto insurance pay to fix your car because you use to pay your bill? Of Course not! Does your auto insurance give you back $100 per month X 12 months X 10 years because you never had an accident in the 10 years you paid? HECK NO! Come on people! Seriously! I can tell you I sold a lot of life insurance policies in the couple years working with Primerica (PFS) and paid 3 death claims!
Let me now tell you an experience I had with one I will never forget. I sat down with a single mom that thought it was important to protect her family. She told me if something ever happened to her she wanted to make sure her children were able to go to college. Besides purchasing her own policy she also purchased a $10,000 policy on her children to cover funeral expenses. God forbid something happen to one of them.
Two days later there was a terrible accident. Her son was hit by a car and passed away! When Primerica received her initial payment it bounced. That's right her check did not clear! Do you know what this horrible scheming company called Primerica did to this grieving mother? THEY PAID THE DEATH CLAIM!!! I personally delivered a check for $10,000 to this grieving mother!! Now that is a company that I will stand behind! $10,000 does not bring back her child but it helps eliminate the financial stress of burying your child! How many people have you seen standing on a corner holding signs "car wash to cover funeral experiences!"
Primerica made sure this mom did not have to worry how she was going to pay for her sons services! Working with this company is definitely not for everyone! But neither is being a teacher, a pastor, a landscaper, but we all need their services, and we can all benefit from Primerica's services as well! Once again I have no current ties with Primerica. From experience I know they are an astonishing, creditable company! Here's a list of some of their products they offer:
Financial Needs analysis (a personalized analysis that shows you how to get out of debt). Life Insurance (To sell this you must have a state License!) (NOT AN EASY TEST!). Investments (Must have a state license!) (NOT AN EASY TEST!). Auto and home insurance. Long term health care. Debt Watchers (similar to other companies that keep an eye on your credit scores). Prepaid Legal Services. I have not stepped foot into a Primerica office in years so they may have other services I'm not familiar with. My Conclusion: Yes this is a legit company where people have to get a legit license (through the "State" NOT PRIMERICA). They offer (SELL) Legit services. Nope not a pyramid scheme.
Primerica may or may not a company you may want to deal with them based on my experience with the advisor I had. I have a distaste for the company. Each individual is their own person and will take their learning and use it for their best. Some will have ethics, some will have for personal gain and will not stop until they get what they want at all costs. I'm basing my experience on one individual and I got royally ripped off. She was able to fabricate documents to her best financial gain. But if she has a conscience, one day it will catch up to her. I believe its called karma. Primerica will back up the advisor at all costs, withholding documents etc.
After all they have acquired this business from 1981 but in general it's not about the consumer, it comes from the profitability of the advisor first. Some advisors will do whatever it takes to acquire your investments, even shady production of documents made to look like the investor's request. In any event I caution anybody who has limited knowledge of investing, do have professional help before you sign on that dotted line. Once you give them the check you have lost control. Should the advisor give you bad advice an unethical advisor will do whatever to keep their heads above water.
As with Primerica some are professionals with designation but most are trained according to training courses provided by Primerica and don't have the financial education to make your investments viable. You're the consumer. One more thing Primerica will at all costs go above and beyond to save the advisor. It's not so much they are thinking about the advisor but Primerica are looking after their own butts.
I am a client and a district leader at Primerica. This IS NOT FOR EVERYONE. If you don't have an entrepreneur mindset and you're stuck on being an employee instead of a self employed, business owner or investor one day by all means go ahead and keep doing what you're doing because you WILL NOT make it in Primerica.
To the people on this website complaining about Primerica being a "Scam" or "scheme". The website you are on states when you create your account with it that this allows lawyers and news people and etc will be able to look at these complaints and see if they serve as "legal merit" to pursue the case. Notice that no one is wanting to pursue the case of Primerica being a "scam" or "scheme". Can you ask yourself now, "hmm, why is that?". Think about it while AT&T and big corporations under people like Steve Jobs use or used recruiting to grow business. Primerica has been around for 39 years and has probably had these complaints since they first started and guess what. No lawsuits filed on the way they grow business.
Also let me make clear, because Primerica allows people who work hard to open their own business. There are different people managing the building you walk into. I'm sure even you can agree every person is different. Not one person is the same as another (according to the bible). So yes some people who own their own business within Primerica are not all the best. As for those who had these crappy trainers or crappy leaders I completely apologize for what you went through. But just know, just because it didn't work at one of the buildings you walked into doesn't mean it won't work if you walked into another that may be better off than others. I personally had a great experience with the leaders.
As for the fees, I went through the same process. All you pay for is the book you need to help study for the life insurance exam to get your license which is $100, your background check $25, and your membership on the online website $25 a month. After you take the 2 classes (Primerica pays for which are around $2,000 on it's own) you can get reimbursed the $100 or you can skip the classes and choose to get reimbursed when you pass the exam (Primerica also pays for which is a couple hundred dollars) instead.
I personally did the classes because they were helpful and I got reimbursed faster. Primerica actually pays for two other different background checks that are the more expensive ones and ask you to just pay the $25 one (no biggie). As for the $25 a month membership for the online account, that is what you NEED to transact business. So trust me once you start to transact business that $25 is nothing compared to what you may be getting paid. I personally have no problem with.
Overall Primerica is a great company with MOSTLY great people. Please do not let certain people put the company to shame. The company has over 100,000 licensed reps and it's almost impossible to tell what kind of person they may or may not be. Just like you would any other company who has the problem of accidentally hiring some bad people, cut them some slack. There are still great agents and base shops out there that surpass the bad ones. I know because my experience is great.
My fiance has personally bought life insurance, invested into a 9% rate of return savings, and opened up a retirement plan for us. We're only 21 and are on the right path to being financially independent all because Primerica taught us how to intellectually personally control our finances. It has helped me also pay my way through college with the proceeds I've made to help me get my second degree. Thanks to Primerica. I am set for life.
I recently joined the business about a month ago and my life perspective has changed completely. I aspire to do great things through Primerica and all of my dreams and goals from my early 20s are back on the board. I don't know if I'm going to be successful or not but at least now I have a shot at it. As for the fees, I told myself, if this business opportunity will cost me $400 (100 + 25*12) for one year, I will take it everyday of the week. It seems that the reviews for Primerica are very polarizing either 5 stars or 1 star, that's why I gave it 3. If you are being called and invited to talk to a recruiter and you have your doubts and that's how you ended up here reading reviews of other people; my advice to you is don't let others decide for you. Primerica may or may not be for you but it's worth a look.
I've seen some people on here had negative experiences with these guys customer service wise. Well it's my understanding they have over 100 000 licensed independent reps... what some of them do hardly reflects the integrity of the company. I was very pleased with the company's educational approach and how the products that I found were ALL BACKED BY 3RD PARTY CONSUMER GROUPS.
My mother bought Primerica "Life Insurance" at the cost of 117 dollars per month for YEARS and it was not actual life insurance. The type of plan she was signed up for is comparable to short term insurance you would put on a car or home, not on a human being. They took advantage of her because she is older, and they will not give her any of her money back. This company is a complete scam, avoid them at all costs. She cannot afford a lawyer to take them to court, so she is totally out the money that she paid.
When I signed up I was told there would be a fee of 99.00 and a 25.00, but NEVER told that there will be a 25.00 per month charge to be a "member". When I have spoke to the guy that signed me up he stated "I did go over it with you." I understand if I take this further it would be a he said she said. I was never told because if I was I would have not signed on. I have enough bills as is. Very mad about this situation.
Yesterday was my first encounter with the financial advisers of Primerica. This was for what I was told by a coworker of mine to be an "interview," as for I am considering seeking employment elsewhere. I thought very little of it and figured it to be just that. Upon meeting, I sat down with two people who explained to me in a rambling fashion about the services that they offer ranging from auto and lawyer to life insurance. After they received the payment of $99 for the classes and for the tests (state and federal and securities) from me I was immediately asked to think of other potential fits for the position. I did not want to do that by text or phone call, I like communicating in an in person approach. They even had a script of something I should say via text or phone call. This bothered me for I felt like I was extorting my friends and associates to the will of the company.
Even though I seemed hesitant he did not back off of me and we sat for a few hours doing this task. Commission is 25% and ONLY goes up through this referral and closed policies pyramid like set up. I told him upfront I hate their business model in which he matched me with mediocre analogies about other businesses in which made no sense. I walked out with a feeling of distrust in the company and staff in which told me that they did not finish high school. I would not recommend this company at all, and it falls in the same league as selling knives for Cutco.
After this all happened I wanted my money back being I did not even take the classes. I find out that they actually charged me an additional $25 without even telling me. And these are the types of people I or anyone should want to manage finances let alone major things such as debt, retirement and life insurance? What a joke. Stay far away unless you know a bunch of other average people to bring under you and do not mind making residual income off of those peers. Great talk, yet staffing is in need of a better communication style.
I sign up as a sales rep and didn't work for me, but I kept the insurance at a normal rate no special nothing. And couple of month later without letting me know they raise the monthly payment. I try calling, emailing. I talk to my representative who at that time was my friend OF 10 YEARS (after this we are no longer friend. She couldn't even help me). Well long story short is almost impossible to get out. I did some search on prices and they are ok. NOT the best, but ok so I stayed. About two weeks ago they called me saying that "my agent has quit the job'' (I know she did as she wasn't making any money at all) and that they were going to send me a new one representative??? I'M STILL WAITING... HOPEFULLY THIS WILL BE THE END OF THIS. PRIMERICA CRAPPY SERVICE.
I am not understanding some of these negative reviews on here, unless these claims are not legitimate. A friend of mine started working with Primerica 3 years ago and asked me to meet with her so I could potentially refer her to others that could benefit from her services. I fell in love with what this company does! She provided me with a free financial plan which took me by surprise in the best way! I am now getting out of debt 12 years earlier. I now can have peace of mind that I will be able to retire. I know that I am overpaying in taxes and can use that money towards funding retirement, and so much more.
This a company that absolutely cares about their clients, as well as their agents/consultants. My friend has advanced quickly with this company and is now doing very well financially from what I can see, which is a huge accomplishment for a single mom with only a bachelor's in Oklahoma. My advice to anyone reading these reviews, take it with a grain of salt. Most people on here who are frustrated clearly didn't do something right or they are not the sharpest tool in the shed. Primerica will get my business and my referrals!
Primerica Company Profile
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- 3120 Breckinridge Blvd.
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- United States