Complaint Review: primerica - toronto Ontario

In a capitistic society, businesses have the right to earn money. It is up to the consumer to decide which company he/she decides to purchase from. The trouble with the financial services industry is that there is not enough regulations in place to protect consumers from predatory companies like PRIMERICA. The financial regulators are there more in a role as supervisors, in that they want make sure that licensed agents are following the proper legal procedures when completing transactions. There are no regulations on the advice that agents give to their clients. This is where PRIMERICA has taken advantage of the law. If a company does not offer the full range of products, of course they are not going to tell their clients about them. This is where "buy term invest the rest" investment philosphy is preached by PRIMERICA agents because they have no whole life(actually they do have some form of a whole-life product but it is so inferior to the mainstream insurance companies whole-life products, that they don't advertise it) or universal life products. The Insurance industry is trying to bring in tighter regulations and stricter standards for life insurance agents. Organizations such as CAIFA or CFP's are working hard to bring higher credibility to the life insurance industry. PRIMERICA is not a part of CAIFA because they do not want to be placed under any business ethic vows which would hinder their agents. Hopefully in the next 10 years we will see laws which will protect consumers and make it diffucult for companies like PRIMERICA to operate

I don't know who or what people you suggest were feeding you such Bull Sh_T ? I suppose when you break it down......the truth hurts ! You probably have some other insurance companies products and are getting screwed each and every day ! The fact of the matter is Primerica tells it like it is ! Go to your bank withdraw some money and buy yourself a freakin' clue !! Or at least do us all a favor and go buy a book that explains the TRUTH they have been written since the 1800's about how Life insurance is a scam and how agents rip the client off purely for commissions !! Did you know that Life insurance agents make 110% commissions on the people they sell their products to ? That means when they sell you something you don't need for an outrageous cost of oh.....say $2000.00 per year premium the minute you sign on that dotted line they make $2220.00 !! And then guess what Einstein....your F!@#'d you just lost your $2000.00, go ahead and read about the products they sell..... Go a read about Whole Life....Universal Life and write back telling people Primerica rips people off.....your the one sprouting B.S. Get you facts straight, get some education before mouthing off about who is ripping who off....obviously you are a client who is either being ripped off or is to stupid to realize it so you bash Primerica along side all the other people who just don't get it !! I really don't mean to get on your case but I just can't stand people who jump in a discussion sprouting off about things they know nothing about !! You said it your self you don't have an educated background in Finance !! Go learn, Go educate, then and ONLY then should you be bad mouthing what other people have known for the past 125 years !! Oh and by the way that so called 22 yr old you talked about ? She does nothing to your money....She is merely a carrier of your money to a Professional Money Manager these are the people who invest your money bonehead !! She simply gets paid on the transaction of putting it front of the Professionals !! Some people's kids...... P.S. As for the girl at the bridal shop...good on ya I hope you succeed and develop a great business for yourself !!

:The reason that they were dupped was because they were looking to get rich quick, which is equally as bad. Many are not looking to get rich quick. The company often..very often...uses the figure "5 years" as the guideline for becoming 'financially independent', whatever that means. They say "work for 5 years and then retire. I know several people who have joined the company and have thrown all their energy and passion into it, not expecting to get rich quick, but the system just doesn't allow it. Think about it - more people are now leaving the company than joining each year. :The company of Primerica offers a variety of financial products, and they are looking for representatives to sell their products. The products are not bad products. Often they are. And they're expensive. Usually, the only way Primerica can compete is to misrepresent, miscompare, and mislead consumers who don't otherwise know any better due to lack of financial education. Have you read the proof I posted, in the form of a scanned document, that shows one of the many tricks Primerica plays? :Whenever you have a salesman, you are always going to find corruptions and deceit. The only way you can safeguard against that is by doing the research and find out what you are about to get your self into. You have obviously already made up your mind to join Primerica. Now you are trying to rationalize it. Guess what? You are using the same tired, company-fed lines that all the PFS agents use. It's funny - also read reports on other pyramids/MLMs like Trek, Amway, etc. Replace the name of the company and they sound JUST LIKE YOU. Best of luck with your new MLM business.

I have been considering becoming a representative for Primeria, and during the process of researching the company (something most of the writers neglected to do in the FIRST place) when I happened upon your website... I was looking for complaints. I wanted to see what people were saying about the company. I have noticed a common thread with all of the complaints... The people that got dupped, were dupped by people selling a "Get Rich Quick" scheme. The reason that they were dupped was because they were looking to get rich quick, which is equally as bad. When you are looking for a quick fix to a lifetime of mess ups, you put yourself in a position to be mislead by Con Artists that are selling get rich quick schemes. The company of Primerica offers a variety of financial products, and they are looking for representatives to sell their products. The products are not bad products. There were no complaints about being bilked out of millions because the mutual fund you invested in went beserk and bottomed out. No one has lost their home because of a clause that only Primerica uses. No. People are belly aching because they were looking for a get rich quick scheme to make millions without putting in any hard work or investment. Whenever you have a salesman, you are always going to find corruptions and deceit. The only way you can safeguard against that is by doing the research and find out what you are about to get your self into.

I have read both reports because I myself have been approached by "employees" of primerica. You see I thought wow what a great opportunity, but I must check it out on the internet to see if it is a scam. The fact is I have found only negative outlooks on this so called great opportunity and I spent over an hour on the phone listening to the B.S that I was being told. They wouldn't even tell me what the job included!!! Nor would they answer any questions I had. But from the start of the conversation I knew it was total crap. All they wanted was to get me to go to the seminar and nothing else. I don't even have educational background in finance!!!!! I know I wouldn't want my finances being handled by a 22 year old girl whom just finished her first year of engineering!!!! just to warn anyone else who is think of this,in my opinion it is a scam, dont give your money to them. And by the way to the person who wrote the last response, "Grammar" is spelt with an "A". I guess education isn't important when lots of money is at stake!!

Naureen, Where do I begin with you? First of all, I understand your frustration with working in a commission-based position. It's never easy. Nothing comes from nothing. I've worked in tipped-based positions (waitressing) and I am currently in a base+commission position (bridal retail). You learn very quickly that you have to put effort in, to get anything worthwhile out. I have a friend who is currently attending the licensing classes for Primerica and I am looking into joining on as well. My friend was told upfront of all the REQUIRED costs to him and all the OPTIONAL costs to him. I, myself attended the corportate overview meeting recently and was also informed that there was a required state licensing fee. After you acquire the mandatory license, then there are some additional licenses available that you can aquire at your leisure and of course there will be additional fees. Now, I do not know how it works in Canada, but in America most post-secondary education, certification or licensing will costs some sort of fee. I suppose it's possible that your instructor truely did not explain the fees involved, but it's also possible you misunderstood or completely did not comprehend that part at all. In the bridal shop I work at, I have told girls to their face that alterations for bridesmaids dresses in our store are NOT included in the price of the gown, only to have them come back later and INSIST that I said no such thing. It's called SELECTIVE HEARING and it's a very BAD thing to practice when dealing with anything in life. COMMUNICATION IS KEY IN BEING SUCCESSFUL IN ANY CASE, BUSINESS, RELATIONSHIP OR SITUATION! Get the facts, review them and make sure you understand them before you speak or act. One final note before I sign off: proper grammer and spelling are also KEY!