Complaint Review: Primerica Financial Services - Memphis Tennessee

Take Crimerica to small claims court. Ask for whatever the limit is in your area (stress, time, court and lawyer fees). Make Crimerica pay for what they're putting you through.

Call your State Insurance Commissioner about this. They can help.

I was just recently called to interview at one of the Primerica offices in Phoenix, AZ. I just had a baby in March and was ready to come back to work in June, but found that my job had been eliminated. I had my resume posted on Careerbuilder and one of the reps from Primerica called me. I didn't know anything about the company and so I went to the interview. It was a three hour interview and it seemed pretty interesting, but I felt the whole time that I didn't think investments would ever be my cup of tea. At the end the rep told me about the $199 fee. She explained that $40 was for the background check (I've worked for banks before and I've had FBI checks done on me and NEVER EVER have I had to pay any amount for a background check) and the $159 was for the licensing fee. I was shocked, but stupidly I wrote her a check. Boy did my husband yell at me! I felt wrong about it the whole time, but I was desperate to find a job and didn't even think that I would have trouble getting my money back. After I left I told my husband that I didn't want the job and the next day I called the rep I spoke to and told her that I wasn't going to take the position after talking with my husband about it. In the voicemail I asked her if I can get my money back. After a few days she finally called me back, but was very rude to me putting me down for not wanting the job. She said that I would have to fax her for a request of refund. I faxed her and emailed her and called her to confirm that she rec'd my fax and nothing. I've called again and this time am trying to contact the manager. This is to the Reps of Primerica; why even collect the money upfront? Why not wait untilt the background check is complete and if the person interviewing is still interested, than charge them the fee. You should charge applicants money if they are just checking out the company and not sure if they really want to do this. As with anything in life, people need to think about decisions especially jobs. I wouldn't accept a job the moment they say, "your hired", I want some time to think about it. This company should never charge for a background check. If big banks don't do it than why does a "supposed" multi million dollar company need to charge for one? There is something wrong with that. I'm telling you right now that I'm not dropping this because as a new mother. I don't have very much money and I'm going to seek legal advice and I'm going to friends at the local media station to let other consumers know to investigate this before they too lose money. I think it's very sad that people are out there to scam others. I'm not saying that all of Primerica is like this, but from what I've read on this website it sure seems like it is. Not good!! Erin

So E-P I guess those rah-rah meetings must be boring you to death to have you trolling over here doing shilling for Crimerica. What's the matter? Can't hawk the trash over at the shopping malls? Let's do some quoting: "So Primerica is a scam is it?" You know it. Just because Crimerica hasn't been stopped yet doesn't make it okay. Crimerica is already morally bankrupt and their parent, Citigroup, has been heavily fined and being pursued the the government in court. An adjustment to the law would fix Crimerica's goose. "For 28 years there have been people claiming this business is a scam." Says a lot about Crimerica's reputation. "You'll have to do more than whine on the rip-off-report to shut us down." Are you afraid of the Ripoff Report? It's designed to help out victims. You're a great example of the arrogance of Crimerica. Are you suggesting that the government should step into this? (which they're already doing with their parent). "So keep whining and you can all KMA!" You've read it people. Don't let this shiller fool you as there are many Primericans who are rightfully concerned about Crimerica (and many Crimericans who aren't). The victims' ripoff reports do make a difference with Crimerica and other scam companies on Ripoff Report so keep on filing as Crimerica is on the run.

So Primerica is a scam is it? Are you telling me that for 28 years A.L. Williams/Primerica have been scamming people and are still in business? Oh my God! Where is the government? Where is the SEC? Where are all 50 state insurance departments? This business needs to be shut down right now! That is if you believe all the posts here. For 28 years there have been people claiming this business is a scam. Here a scam, there a scam, everywhere a scam scam! We are still here. We are still in business. Whine as you may, we are still here. If you don't like the business model, that's fine. It's a free country. However, I love it! Got a problem with that? Too bad. You'll have to do more than whine on the rip-off-report to shut us down. A lot of people hate Wal-Mart too. I don't see them shutting down anytime soon because of a few boo-birds. So keep whining and you can all KMA!

This is a fraud site. And, after hundreds of different pages of complaints on primerica, everybody can see that the company is obviously a fraud. There are just too many complaints here. Most of them say the exact same thing. Plus, 100,000 new people actually try primerica every year. None of them manage to make a decent living from it either. How could all of those people be wrong? The answer is they can't. Primerica is clearly a scam. Nothing anyone can say will ever change people's minds about that. If you're part of the primerica scam, the only hope you have is to find someone who does not have the internet or who does not use it to research things before they buy.

Excuse me, Luke - San Jose, California U.S.A. You seriously need to get your facts straight. You can't automatically make a hypothosis without getting the information right. If we all did that, the world would be chaotic. (...it already is...) You said, "This is FACT and LAW as it pertains to the State of Georgia. I understand you are grieving and I cannot possibly imagine losing a child, but the picture you are painting is false. The day after 9/11, the CEO and President of Primerica were at ground zero paying death benefits." Now, from what I read, Nathaniel - West Memphis, Arkansas U.S.A. stated this: I purchase life insurance for my family and due to unfortunate circumstance my son past on Sept.12 2005 and after I filed a claim,Primerica said he was denied coverage and I was never notified about this until after his death.After being persued for 2 years I finialy tried Primerica and am not satisfied with the service I receive." Now, you ask, what is my point? My point is that from what Nathaniel said, he stated that his son did not die in the year the planes hit the twin towers. You stated, 9/11, as in that year, you meant "deaths" as in those killed by the immense destruction. Nathaniel said the year "2005". You can't deny the facts. I'd also like to give you some FACTS (notice the format, eh?) that break your so called "facts" In 2001, your website stated, "The company, it seems, is on a roll. After 15 years in Canada, it boasts one of the country's largest sales forces, with some 5,300 licensed insurers, 82% of whom are also licensed to sell mutual funds. They're selling a lot of insurance $8.2 billion of policies in Canada last year, which puts them in the top five in the country. The company, which is in turn a unit of U.S. giant Citigroup Inc., raked in a further $733 million in investment funds sales in 2001. The Primerica Concert series of funds (a series of fund-of-funds based on AGF Funds Inc. products and chosen by Citigroup co-company Salomon Smith Barney) are approaching $5 billion in assets under administration." Oh, so you guys were going off the deep end? Ha. That's pretty funny. I also looked off the PNC bank website (http://www.prnewswire.com/cgi-bin/micro_stories.pl?ACCT=701257&TICK=PNC&STORY=/www/story/03-01-2001/0001438832&EDATE=Mar+1,+2001), where they stated, "Total assets serviced by PFPC for Primerica (http://www.primerica.com) are expected to approximate $22.7 billion, representing almost three million shareholder accounts." Wow. 22.7 billion dollers. That's a lot of $$$. Now, since I have pretty much left your rebuttal to a piece of thread, I'd like do kill your ego. I'm a 12-year-old girl in 8th grade and I just destroyed your "facts" and "reasoning". I have a strong feeling that you have no experience whatsoever. I'd also like to comment on your "act of kindness". If it was never in the news, and you have nothing to back up your reasoning and "facts", then what makes you think that the people reading this website, like myself, are going to believe you? Unlike you, I specified the FACTS (there it is again!). If you were in college, writing an exam paper. You would get an F. A big, fat, F. For no resources, and nothing to back up your assuptions, and for faulty information. The only website that said that you guys were broke in 2001 was your website. I bet you're laughing now, saying "she's just a stupid 12 year old". Hey, I actually stated facts, and, from how it seems, I'm a heck of a lot smarter when it comes to writing the FACTS (OMG! It just keeps coming back!). Oh, and how do I know anything about this? My mom got a call. I'm looked the so-called "Jim Sebastian" in the white pages and in multiple online directories. He doesn't exist. Oh, and trust me, I did look in the spelling variations. You're trying to find fault in a girl beating your logic who skipped 6th grade and your lying butt. Nathaniel needs more than a "sorry about your son". Yeah, your letter had LOADS of sympathy. If millions of people have eaten that bad hamburger, no one will buy from there again. You seem so easy going, of course, none of these things are happening to you, and too many people have talked about how horrible their experiences with Primerica are, that you don't seem to notice. For example, with this beautiful example to put you in perspective. Some man in europe (not picking on europe) eats a chicken with avain flu. He dies. Many more people eat birds with avain flu. They all die but one, who is serious condition at a local hospital which can't help him at all. Hundreds of people take their birds with avain flu and ship them to other countries. Those contries get infected with the virus and most die. Now, presidents from other countries, and the US can say that there is no such thing as avian flu. Tell me, by denying what is there, they are showing ignorance, but is it solving the problem.

If you want to sell mediocre products via a one size fits all program then PFS is for you. If you want to recruit everyone with a pulse to hopefully get a few decent agents, then PFS is for you. If you want to tell new people that they own their own business even though PFS retains ALL rights to the business of any rep, then PFS is for you. If you want to work your butt off only to have to give your best two agents and a huge part of your income to your RVP before you can be promoted, then PFS is for you. I'll agree with you that a lot of people quit, but have you ever thought that it is because you are recruiting the wrong people? Why not target people with an interest in financial services. Better yet, why not offer an opportunity for people who are already in the business. Face it, most people who are already licensed would not go near PFS even with a HAZMAT suit. Why is that? You have been told that it's because all other agents are corrupt and wouldn't do what is right for people because they would not make as much. That is pure unadulterated BULL that PFS feeds its recruits so that they can have some sense of superiority and false confidence. I think they feed that BULL to their reps because they know that their products are sub par and that the one size fits all program just does not work. The truth is that PFS is designed to pass their operating costs to the agents. Think about it; An agent has to pay to use the Call Atlanta web site to track their business. An RVP pays almost $1000 per year just to use the company web site. Agents have to pay for all their own marketing material out of pocket. An RVP is required to open and maintain an office and must divest himself of certain business interests and any other employment. Now compare that to the way other financial services companies work. I don't have to pay to use insurance company websites to track my business. I get almost all of my marketing materials for free from the insurance companies I represent. All of my financial analysis software is provided free of charge. I work from a Home Office and if I want I can hold a position with another business. I can recruit, train and override agents without all the expenses of a PFS "business". And I and I alone retain ALL rights to my business. So PFS might be legitimate, but it is not by any means a better opportunity than the alternatives that exist. And if you want, I'm more than happy to compare products strategies and business models with you again. Oh yeah, you're the guy who said product strategy and business model comparisons are moot. So can I infer that even though the products you sell and the strategy you tout don't matter, that you still think the PFS opportunity is superior or at least legitimate.

"This means the opportunity is not for those who prefer to work as employees." Two things: (1) First over 90% of Crimerica's workforce are subcontracted as employees. Second Primerica doesn't permit its workforce to work for anyone else which is the main reason why I say that you are an employee for Crimerica. (2) When you say opportunity, what are the odds against someone making a decent living from Crimerica let alone a "six-figure income"? (has anyone ever taken the time to figure this out?).

Primerica is a legitimate business opportunity. This means the opportunity is not for those who prefer to work as employees. When people succeed at Primerica it is because those individuals worked hard to succeed. When people fail at Primerica it is because they did not put in the effort necessary for success. It would be strangely foolish for a person to invest thousands of dollars into a McDonald's franchise, and then let the franchise sit closed. That person could not complain that McDonald's ripped him off. Yet so many people pay $199 for their Primerica franchise, and then they let it sit closed without ever opening it. The numbers are the numbers. 80% of all those who purchase a Primerica franchise will walk away before they ever receive their insurance license. Of those who do obtain their license, only 25% will actively attempt to operate their business. This means that only 25% of 20% [or 5% overall] of all recruits make a serious attempt to succeed. Of the other 95% who quit before they start, which are approximately 228,000 people annually, only a handful will complain that Primerica was a rip-off. The vast majority recognize that they did not succeed because of the choices that they made not to apply the necessary effort. This is not good or bad; these are simply the numbers. A Primerica agent must recruit 100 new recruits in order to retain a team of 5. To be successful at Primerica, one must obtain a loan origination licenses, a life insurance license, and securities representative license. These licenses are not inexpensive. And, most agents maintain their primary jobs for several years before they transition into full time position with Primerica. Success at Primerica is coupled with perseverance. I always feel sad when a person gives up before that person ever gave Primerica any real chance. But, we need to face the facts; the American education system is designed to condition children to become obedient workers. Very few children grow up with the entrepreneurial spirit. If you came to Primerica but failed, retaining bitterness will not help your future. It is better for your emotional well being to simply admit that Primerica was not right for you. In short, you wanted a job, not a business opportunity. The orignial complaint for this thread began over one year ago. There are threads here that are much older. It is strange that it is the same old complainers rehashing their same old complaints. Very few actual new complaints surface. Why is this? Because: Less than .01% of the total of those who did not succeed will actually complain on sites like this one. It is only after years of posting and rehashing complaints that a site like this expands enough to take on the appearance of widespread fraud. But it is very few complaints over a wide spand of time. Although this minority is vocal, its minute size is a testament to the authentic credibility that the Primerica opportunity represents to those with the entrepreneurial drive to succeed.

Quoting: "What are the FACTS?" If you check my posts and others such as Paul from Anaheim and Tim from Valparaiso, we have given you the facts. "Other brokerage firms of equal size require at least an investment of $2,500, which most Middle Americans do not have." What type of investment does Crimerica require to "own your own business." along with succeeding at Crimerica? (including the time along with the cash). "You cannot make a statement like, I heard some bad things about Primerica without providing empirical evidence supporting your position." What you're conveniently forgetting Luke is that Nathaniel isn't the only poster on Ripoff Report. There are thousands of other posters on this website alone so how about addressing the others in turn instead of picking on Nathaniel, you shiller? "I will end by saying; I had a bad hamburger at McDonalds in Raleigh, NC. I could have said, I am never eating at McDonalds again." Fraud and deception is rampant at Crimerica as the Ripoff Reports attest to along with other websites. And the parent, Citigroup, has been fined heavily and being pursued by the government in court (I've posted links to websites verifying this). One more thing shiller: "Victim of a consumer Rip-off? Want justice? Rip-off Report is a worldwide consumer reporting Website & Publication, by consumers, for consumers, to file & document complaints about companies or individuals who ripoff consumers." Nathaniel is within his rights to file a complaint against Crimerica which he has done. For shillers such as you I expect documentation to all of my challenges and other posters here on Ripoff Report which the fat cats won't do because they have long yellow streaks down their backs.

Nathaniel, Sorry about your son, but I cannot confirm what you are saying is true or false. As I stated, I can only state what the facts are as they pertain to Primerica. If you purchased life insurance today and you die tomorrow, the insurance company reserves the right to investigate and hold payment of death benefit. If you purchased an individual Life Insurance policy with a Child Rider 23 months and 30 days ago and your son past away. The insurance company reserves the right to investigate and hold the death benefit. It is not until you have past the 2-year point of incontestability do you not have trouble receiving your death benefit. This is FACT and LAW as it pertains to the State of Georgia. I understand you are grieving and I cannot possibly imagine losing a child, but the picture you are painting is false. The day after 9/11, the CEO and President of Primerica were at ground zero paying death benefits. This is a FACT. This act of kindness never made the news. No one can ever say it was a publicity stunt to get attention. Primerica does not advertise; all business is done in a warm market and through word of mouth. I will end by saying; I had a bad hamburger at McDonalds in Raleigh, NC. I could have said, I am never eating at McDonalds again. The fact of the matter, we will have bad experiences along the way. That does not mean we through the baby out with the bath water. Some thing to think about.

I am not talking about the $199.00 I paid but the money that I paid for life insurance for my family and when I filed a claim Primerica would not pay and that is the truth. I would say this if it were not true.

I purchase life insurance for my family and due to unfortunate circumstance my son past on Sept.12 2005 and after I filed a claim,Primerica said he was denied coverage and I was never notified about this until after his death.After being persued for 2 years I finialy tried Primerica and am not satisfied with the service I receive.

I read all of the complaints and all of them same the samething misinformation. Problem is maybe your eperience with Primerica has been with bad reps. The other is people are so hung up on the fee and dont even know what it is for. I was with them part time and plan on going back paid my 199.00 gritting my teeth the whole time then my box came with all the materials, tapes I needed to pass my test. I got the exam fee back sameday I passed my manager gave it back to me out of his pocket. I went out on 5 calls before I got my license and made my 199 back. How are you ripping people off? You sell nothing ask them for no money. If I am at the table and we cant find money or moe it around so they have money open to use thats it we walk away unless they ask us to do something else. NO NEW MONEY spent. Nothing offered and nothing pushed. Look at the cost of getting your license on your own, study guides, classes tests and add it up and you tell me if it is more then 199.00. It is very time envolved at first and I wasnt able to dedicate the time needed so I am going back in a few months. I know of 4 people when i orginally started 5 years ago and called it a scam and didnt try it that are now regional vice pres. 3 of them are making easy 6 figures without new business the other 2 are 80k range and getting there. Willing to do leg work and put effort in then try it. Dont put down what you dont understand.

To All, It is apparent to me, after reading your post many of the readers are biased. The foundation of your position is not based upon FACT. The rebuttals thus far have been for not, because most of the post are baseless arguments. What are the FACTS? Primerica is doing far more for Middle America than any other firm of its size. This is a FACT! A Primerica agent can set you up with a retirement fund, for as little as $25.00 a month. This is a FACT! Yes, this is not a lot of money, but nothing saved into nothing saved, equals nothing saved. Other brokerage firms of equal size require at least an investment of $2,500, which most Middle Americans do not have. This is a FACT! Consumer debt has doubled over the past 10 years. Average household debt is $18,700 (http://www.wsws.org/articles/2004/jan2004/debt-j15.shtml), if you do not believe this, look at your own credit card bills and debt. This is a FACT! I have spoken with many people like Nathaniel of West Memphis, Arkansas. I ask direct questions and they often are not able to intelligently articulate their position. The Nathaniel's of the world will say, I heard some bad things about Primerica. My response, Ok, what have you heard? There is an eerie pause and Nathaniel responds with, I just heard some bad things. At this point, I begin to shred his position like a paper shredder. You cannot make a statement like, I heard some bad things about Primerica without providing empirical evidence supporting your position. Empirical evidence is evidence that does what you say and is verifiable. Our opinions are never wrong! I am not interested in your opinion, what are the FACTS. Many of the rebuttals are agents protecting the sacred name of Primerica, but you must consider the source. Read the persons post, you can tell if the person is an IDIOT. Some post are so asinine; they do not dignify a response. Again, consider the source, you can tell if the person is a MORON. Why go on and on exchanging pleasantries with someone who does not have a clue. It does not matter what you say or do. That person will end up 65 with $1,500 dollars to their name. They will look back and remember what you told them and wish they had listened.

Quoting: "These are the kind of generalized statements I hate." I hate them too Brian. Too bad you don't give detailed statements. "The $200 is more than worth it for the training provided." So that Primerica can rape your warm market. The education you receive from Primerica is pathetic as you can't properly service your clients with the limited knowledge given. Furthermore the products that Primerica offers is too limited over 90% of the time to benefit the client and Primerica's term insurance is among the most expensive offered without corresponding value to the client. "I even checked with the better business bureau before proceeding and I found NO complaints whatsoever filed on Primerica in my state." The BBB is another example of a fraudulent type of business. Just read the Ripoff Reports on them. "Hell, I can't even eat a burger at a local fast food joint without ponying up some cash first." Hell you can make more money flipping burgers than working at Primerica which is true for over 90% of the agents who don't even make $5 an hour. "So I say there is no ripoff, its not misleading, nor dishonest and most certainly not a fraud or scam.." I would say that Primerica is one of the biggest pyramid-schemed operations around. "I'll end this by pondering which didn't work, the business or you." I would answer that you didn't work, Brian. You're too lazy to get a free spell checker from the internet so that you'll know how to spell words correctly such as licensed instead of "liscenced" which I demand a professional know how to do, but a shiller such as you apparently doesn't. "...and I found NO complaints whatsoever filed on Primerica in my state." Brian from Bellevue, NE, how many complaints against Primerica have been filed from Nebraska alone on Ripoff Report? I thought so.

Quoting: "These are the kind of generalized statements I hate." I hate them too Brian. Too bad you don't give detailed statements. "The $200 is more than worth it for the training provided." So that Primerica can rape your warm market. The education you receive from Primerica is pathetic as you can't properly service your clients with the limited knowledge given. Furthermore the products that Primerica offers is too limited over 90% of the time to benefit the client and Primerica's term insurance is among the most expensive offered without corresponding value to the client. "I even checked with the better business bureau before proceeding and I found NO complaints whatsoever filed on Primerica in my state." The BBB is another example of a fraudulent type of business. Just read the Ripoff Reports on them. "Hell, I can't even eat a burger at a local fast food joint without ponying up some cash first." Hell you can make more money flipping burgers than working at Primerica which is true for over 90% of the agents who don't even make $5 an hour. "So I say there is no ripoff, its not misleading, nor dishonest and most certainly not a fraud or scam.." I would say that Primerica is one of the biggest pyramid-schemed operations around. "I'll end this by pondering which didn't work, the business or you." I would answer that you didn't work, Brian. You're too lazy to get a free spell checker from the internet so that you'll know how to spell words correctly such as licensed instead of "liscenced" which I demand a professional know how to do, but a shiller such as you apparently doesn't. "...and I found NO complaints whatsoever filed on Primerica in my state." Brian from Bellevue, NE, how many complaints against Primerica have been filed from Nebraska alone on Ripoff Report? I thought so.

These are the kind of generalized statements I hate. You don't mention how you got "ripped off". You say you apparently didn't get paid, something I have problems believing. You also stated to beware of the opportunities asking for money up front. I got the impression you believed due to Primerica asking for the money relatively early, that you felt ripped off. As someone who is/has going/gone thru the training myself, let me explain something to those reading. The ONLY money Primerica will ever ask for out of an associate-in-training is $200 upfront to cover the costs of training time and materials. The $200 also covers the cost of the liscensing exam for insurance sales. The $200 is more than worth it for the training provided. On top of that, there are offers made by the company for the new associate to actually have those costs reimbursed. They set two deadlines for two separate lists of training steps where if the deadlines are met, the associate receives $200, then $300. Once certified and liscenced, the rest is up to you. No other participation or expenses are mandatory. You don't have to buy into some expensive "Tools" system of tapes and books. There is a list of recommended reading materials including books on personal and business finance, life insurance, investments and securities, mortgages...etc but purchase at reduced rates or reading is voluntary. Same with the continued schooling/training. Attendance or participation is voluntary as well. I even checked with the better business bureau before proceeding and I found NO complaints whatsoever filed on Primerica in my state. As far as the money up front is concerned, I equate the training i've received with knowledge acquired from attending college. How many colleges or schools that you know of ask for tuition to be paid before the semester starts? Can you name any that allow tuition to be paid after the semesters up? Hell, I can't even eat a burger at a local fast food joint without ponying up some cash first. So I say there is no ripoff, its not misleading, nor dishonest and most certainly not a fraud or scam. I'll end this by pondering which didn't work, the business or you.

Primerica will take your money for their on gain and profit so beware of a company that want you to pay money up front.