Complaint Review: Primerica Financial Services - Pocatello Idaho

Primerica worms their way into your home by using a friend or relative to get you to drop your guard. An agent comes in, bringing your friend along, under the pretense of teaching you about your money. Instead, they run a Fraudulent Needs Analysis (FNA) sales pitch designed to convince you to buy their phony financial products. Right now, their scams include telling you to change your life insurance, refinance your home, and change all your debts over to Citibank. They claim to offer you a way to pay off your mortgage early and get out of debt quicker. This involves having you pay an extra monthly payment. That effectively allows you to pay off your mortgage years earlier. But, many banks will offer you this option, for quite a bit less in interest. Citibank takes advantage of people who don't know about this type of loan and charges them a helluva lot more than other lenders would. Right now, primerica is also on a constant recruiting binge. They do this in order to generate leads to sell their trash. You see, normally people won't buy their garbage because it clearly is such a bad value. So, primerica recruits new members in order to exploit their list of friends and relatives. People tend to drop their guard when a friend is involved in the company. So, that way, primerica gets to convince people to buy their garbage. Normally, without the friend, they wouldn't stand a chance in hell of finding anyone to buy their nonsense. But, by constantly recruiting and then using the recruit's friends and family, they have managed to make quite a bit of money. Don't be their next victim. Either as a customer or as someone they recruit. Beware! If you get involved either way, you will only lose good money that you could put to better use paying for the things that you and your family needs.

We were introduced to primerica through a neighbor. They moved into the neighborhood almost the sametime as us. After we got to know each other. the wife asked if she could come over and practice her speech on us. My wife told her that was fine. Especially knowing that we were always interested in what they were always talking about. I am a financial nut. I am always interested in financial talk. So she came over asked us alot of questions. Like do you have life insurance? What do you pay? Do you have any mutual funds? While we are telling her all of this she is writing all my personal information down. Which I was a little concerned with. At one point she asked us. What would you do with a million dollars. My wife made so crazy comments like buy a new car and buy some other stuff. Then she asked me so I played along. Then she asked us what would you do with 10 million dollars. So you can see where this is going. I wasnt too interested at this point. 10million common 1 million maybe but your telling me I have a chance to make 10 million as a salesperson. I dont buy it. Anyways. She showed us some success storys of how people in the company were able to save other clients big money each month and lead them into financial freedom. Now I know alot about investing. So some of the things they were doing would help a person that dont have any knowledge about finance or insurance. but that is how they make their money too. You can invest in a no load fund for alot less than what they are offering but inless you know this it sounds like a great deal. Also noticed in one of their success story. There was a couple who were contributing $500 a month into a 401k pretty much the best investment anyone can ever make. Due to the fact of just the tax break alone. Anyways they took the 500 a month and invested it into a roth ira. which confused me but I figured that is the way the company makes their money on moves like that. Roth I.R.A. is a good move but only if you have your 401k maxed out. She said after the interview she was going home to input the #'s to see where she could save us money. My neighbor hasnt said much about the interview since that day. They continue to tell us that they are going to retire in 3 years but that was 2 years ago. I guess to each his own and good luck to them on that.

Kahn, You sound as phony as $3.00 bill. Let's see the results of your homework Give us a price of all the products you just named; the age and face amounts; smoker or non-Smoker; male and female; preferred or non-preferred; so a true comparison can be made. Or are you just some sort of PFS plant? I'm not an active agent but I'm sure there are plenty here that could absolutely blow your rates away. So what will it be Kahn? Will we hear from you again? Or is this just Shill Trek II The Wrath of Kahn?

I have been a Primerica client for almost five years, and I do my homework before I buy anything, just like any smart consumer should. Primerica does not sell the policy you described. Annual increases in premium do not happen until after the initial term of the insurance contract. The policies Primerica sells have initial terms of 10, 15, 20, 25, 30, and 35 years. They don't have a policy in which the premiums increase after the first year. If an agent claiming to be a Primerica representative attempted to sell a policy to you that changed in premium after the first year, you should report him/her to the State Department of Commerce for misrepresentation and possibly for fraud. Chances are he's an agent for another life insurance company that sells cash value life insurance, and was mad that one of his policies was replaced by something that was a better fit for the client, and wanted to do whatever he could to make a feeble attempt to tarnish the name of Primerica Life Insurance company and Primerica Financial Services.

I have been a Primerica client for almost five years, and I do my homework before I buy anything, just like any smart consumer should. Primerica does not sell the policy you described. Annual increases in premium do not happen until after the initial term of the insurance contract. The policies Primerica sells have initial terms of 10, 15, 20, 25, 30, and 35 years. They don't have a policy in which the premiums increase after the first year. If an agent claiming to be a Primerica representative attempted to sell a policy to you that changed in premium after the first year, you should report him/her to the State Department of Commerce for misrepresentation and possibly for fraud. Chances are he's an agent for another life insurance company that sells cash value life insurance, and was mad that one of his policies was replaced by something that was a better fit for the client, and wanted to do whatever he could to make a feeble attempt to tarnish the name of Primerica Life Insurance company and Primerica Financial Services.

I have been a Primerica client for almost five years, and I do my homework before I buy anything, just like any smart consumer should. Primerica does not sell the policy you described. Annual increases in premium do not happen until after the initial term of the insurance contract. The policies Primerica sells have initial terms of 10, 15, 20, 25, 30, and 35 years. They don't have a policy in which the premiums increase after the first year. If an agent claiming to be a Primerica representative attempted to sell a policy to you that changed in premium after the first year, you should report him/her to the State Department of Commerce for misrepresentation and possibly for fraud. Chances are he's an agent for another life insurance company that sells cash value life insurance, and was mad that one of his policies was replaced by something that was a better fit for the client, and wanted to do whatever he could to make a feeble attempt to tarnish the name of Primerica Life Insurance company and Primerica Financial Services.

As a former Primerica agent, I had no idea about financial services or insurance prior to being hired. I have moved on and am now a financial security advisor with one of Canada's most respected financial institutions looking back on it, I can't believe some of the stuff I tried to sell to clients, and I was guilty of not only misrepresentation, but twisting as well. For those of you who don't know what twisting is, it is basically defined as an agent trying to replace an existing policy with another policy, using misrepresentation/other unethical sales practices. At the time i was not aware of what I was doing, and I truly believed i was doing right for my clients Anyone checking out primerica either as a client, or potential employee, it's not something you want to get involved in. If you want a career in the industry, go get proper training and get in with a proper company.