Complaint Review: Primerica Financial Services - Green Bay Wisconsin

I left a manufacturing company after several years to try to do something more productive with my life. After posting a resume online I was contacted by a few insurance companies. After talking to a few of them, I decided that this was something I could really do.

After I became licensed in Life, Accident and Health, I joined a company who provided supplemental products to labor union members and their families. I enjoyed the type of work I was doing, but not service this company provided. So when a friend of mine called and said to check out Primerica, I was more than open to the idea.

I went down to a Primerica office and the meeting seemed a little strange to me. They did an example field presentation for me, and then showed me charts on how much money I could be making in their company. This all was sounding good until a $199 fee came up.

This was RED FLAG #1 (that I foolishly ignored). You see, when I asked what the fee was for, they told me for life insurance licensing and a background check. When I explained that I was already licensed, they said I still had to pay the fee.

Upset, by what I felt was a run around; I told them this fee makes no sense to me. This caused the "Regional Leader" to suddenly become very defensive and tense. I felt at that moment, I couldn't make a decision talking to this guy. (Who by this time, claimed to be running short on time)

Luckily for him, a super calm "Regional Vice President" walked in from the office next store, to close me on the idea. He seemed to be very ethical and down to earth. He also told me that I would be refunded the enrollment amount since I was already licensed. So....no big deal for now......

After I set up a few appointments with my family and friends I told my trainer (The RVP) that I wanted the presentations to be handled a certain way (which he honored). But in between appointments, all I heard was how stupid everyone was who didn't see the Primerica vision. And how we had to recruit, recruit, recruit. Little did he understand, that these "stupid" people were my friends and family.

In fact recruiting was to become my number one goal! Whatever happened to "helping families" I asked. His reply was that I could help the families I recruited, and then we could become richer than our wildest dreams.

RED FLAG #2. Up to this point, I heard mostly kind words from everyone, and the talks of ethics and standards that attracted me in the first place. Now all I began hearing (since I guess I was an "inside man" now) were talks of the whole financial industry screwing the world over. In fact Primerica was the ONLY Company being honest with the consumers. (I wonder if all of them believe that).

And then I hear Citigroup, Citigroup, Citigroup. What a prideful company to be a part of. Except go on to the Citigroup web site and find a link TO Primerica. You will find a small write up about Primerica by clicking on one of their global marketing links, but nothing about being the marketing arm for Citigroup as Primerica loves to claim. So why does Primerica claim to be such an essential part of Citigroup, when Citigroup hardly seams to claim Primerica at all?

Here's a quote straight out of a Primerica seminar, "Citigroup made a conscious decision to market their products globally through a company called Primerica." This supposedly settles the argument.

RED FLAG #3. Then many weeks later I still haven't received my refund of the $199 so I began calling daily about it. When it finally did come, it was labeled as a training reimbursement (instead of a refund) and it was only LIKE $159. This just made me feel that Primerica normally doesn't hire people from with-in the insurance industry. (can you guess why?) And I was told the rest of the fee was used for a background check. What????? I just had a background check from the CIB about 6 months prior to get my licenses in the first place, but that wasn't sufficient enough for Primerica....give me a break!

I have an average understanding of the products, but it is a Primerica "understanding". I have strong opinions about some of them, but I am relatively uneducated in the field, so I'll keep them to myself. (That would be a whole other chapter).

RED FLAG #4 When I asked about someday working towards a CFP designation, I was told I would be wasting my time. I also asked about a Series 7 license and found that it was also taboo. Do they purposely try to keep us uneducated? Most companies favor an interest in improving ourselves. But not Primerica. They feel that they can teach you EVERYTHING you need to know, so what is the point of outside education.

The point is to be able to make informed decisions to better serve our clients with our products and services. Because without that ability, we are useless to the industry and our people that we serve.

I am going to stop here because I feel I've only hit the tip of the ice berg.

I am a former Marine and combat veteran of Somalia and the Persian Gulf. I am a ethical, honest person, who truly believes you can help people in the financial services industry. I just need to find the right vehicle and have fun in making differences in peoples lives.

When I asked a Primerica Rep. about all the negative entries on the internet, I was told it was other companies trying to sabotage Primerica's good name. (Good luck with the whole "good" name part)

Avoid Primerica at all costs!!

Jason

North East, Wisconsin
U.S.A.

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