- Report: #215431
Complaint Review: Primerica - White Plains New York
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Primerica
White Plains, 10601 New York, U.S.A.
Phone:
914-555-1212
Web:
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Primerica ripoff, They sell high price items and claim they help customers! White Plains New York*UPDATE: Primerica offers a good business opportunity & stands behind its products & services- - Company Executives have told Rip-Off Report that Primerica pledges to resolve complaints & address any inquires from the past, present & in the future.
First off, i was recruited by the company thru a friend and figured it sounded really good and why not try it. I went thru the Life insurance licensing, etc. They claim that you will get your $$ back (the $199 fee), etc. well if you read the IBA agreement and i suggest everyone read this in detail, you will find other interseting factors, just like you dont own your clients, you cant sell other insurance then Primerica (national benefit life), etc. But you have 3 months to claim to get your $$ back and but that was not what my RVP told me. Also as soon as i did ask for it back, which i was told was perfectly ok to do when i was hired, they sent me an email claiming i was resigning for the company. i never quit, but whatever. The thing that made me think 2x about this was how they claim we will not do business if we can cant do the right thing.
Ok explain to me how the you do the right thing. I got life insurance with Primerica after i joined the company, never had it before and figured it was time to get it. so i got a policy etc, after a month i heard on radio an ad for life insurance, well being curious i called the company and was shocked to find out i can actually get the same policy for about $30 less a month. Now it doesnt sound like alot of $$, but $30x12 months= $360 x 20yrs =$7,200, so how did Primerica do the right thing by me? if its helping the customer out, thats their mission statement??? how is that helping me? I asked my RVP and all i got from him was well we never claim to be the cheapest, ok fair enough, but 40-50% more than most companies? i can see 10-15% , thats fair, but if your suppose to help people out of debt, how is that happening? also after i cancelled my policy with Primerica i received a nasty message from my RVP, lol which i thought was funny, saying i guess you dont understand what were doing, i understand all to well, like i said $30 a month is not a lot of $$, but its the principle, they would be the first ones to say, hey, its $360 a year, you can invest it etc, or do soemthing with that $$. The other thing that is a scam is their high price mortgages and their claim we will get you out of debt earlier and that interset rates dont matter. Dont pay attention to the interset rate, thats total b.s... so if they dont matter than why not make your interset rates 3-4% not 8-9%, lol, whatever anyone who knows anything knwos if you take a 30 year mortgage and just by changing your payments to bi-weekly , which is what Primerica does, you will cut a 30 year mortgage by 7-8 yrs to 22-23 yrs, so again misleading, they dont tell you that. The recruiting is a joke, they are constantly trying to get anyone into thos "Opp Meetings", some people at these meetings barely speak english, etc. i mean have some kind of screening process, these are the people representing your company, Primerica, all agents are a reflection of Primerica, so you would think any logical person would screen who they bring into these meetings. They go into malls, on the street etc to recruit the next future RVP or Superstar, please. Do you really want anyone off the street working on your hard earning savings and much more?? i dont!
Paul
White Plains, New York
U.S.A.
Ok explain to me how the you do the right thing. I got life insurance with Primerica after i joined the company, never had it before and figured it was time to get it. so i got a policy etc, after a month i heard on radio an ad for life insurance, well being curious i called the company and was shocked to find out i can actually get the same policy for about $30 less a month. Now it doesnt sound like alot of $$, but $30x12 months= $360 x 20yrs =$7,200, so how did Primerica do the right thing by me? if its helping the customer out, thats their mission statement??? how is that helping me? I asked my RVP and all i got from him was well we never claim to be the cheapest, ok fair enough, but 40-50% more than most companies? i can see 10-15% , thats fair, but if your suppose to help people out of debt, how is that happening? also after i cancelled my policy with Primerica i received a nasty message from my RVP, lol which i thought was funny, saying i guess you dont understand what were doing, i understand all to well, like i said $30 a month is not a lot of $$, but its the principle, they would be the first ones to say, hey, its $360 a year, you can invest it etc, or do soemthing with that $$. The other thing that is a scam is their high price mortgages and their claim we will get you out of debt earlier and that interset rates dont matter. Dont pay attention to the interset rate, thats total b.s... so if they dont matter than why not make your interset rates 3-4% not 8-9%, lol, whatever anyone who knows anything knwos if you take a 30 year mortgage and just by changing your payments to bi-weekly , which is what Primerica does, you will cut a 30 year mortgage by 7-8 yrs to 22-23 yrs, so again misleading, they dont tell you that. The recruiting is a joke, they are constantly trying to get anyone into thos "Opp Meetings", some people at these meetings barely speak english, etc. i mean have some kind of screening process, these are the people representing your company, Primerica, all agents are a reflection of Primerica, so you would think any logical person would screen who they bring into these meetings. They go into malls, on the street etc to recruit the next future RVP or Superstar, please. Do you really want anyone off the street working on your hard earning savings and much more?? i dont!
Paul
White Plains, New York
U.S.A.
5 Updates & Rebuttals
Paul
Yonkers,New York,
U.S.A.
and the saga continues
#2UPDATE EX-employee responds
Wed, October 18, 2006
Just received a call from PFS Customer service, regarding my so called resignation, I had asked them how much was credited back to my account of the $199 fee, well I am surprised to find out that they gave me a whopping $16, LOL. Here is their explanation, I received $63 a few weeks back, yes, this is true, but this was the fee for my NY State exam fee, which my RVP told me I would get back, along with my $199, actually I would get back $200. I would make $1 on the deal. Now the $16, represents the balance of the $199 - $63, and - $80 for the state?? and - $40 for Primerica. Now the $40 I remember seeing either on the website or the IBA, whatever its $40, but the $80 for the state??" where does that come from?>? the $63 had nothing to do with the IBA fee, that was the passing the state exam , which I did, so they take $262 and you get back $79 and they keep $183, not a bad deal! lol Then I get a letter from them saying my licenses are cancelled? Aren't these state licenses, O dont get it, hopefully my letter to the state superindent will clear things up. LOL Be careful !
Paul
Yonkers,New York,
U.S.A.
funny isnt it
#3Author of original report
Fri, October 13, 2006
Well are you surprised that they are not calling you back? my story gets even funny, I asked for my $199 back, which the IBA says you can get back and are entitled to it, and now they tell me i resigned lol Funny isn't it, i am actually sending this to a buddy of mine who's an attorney to see what i can do, i really want to bring attention to these scum bags. They prey on latinos and minorities who dont know much etc and sell them on high priced services that anyone with half a brain can see you are getting scammed!
Almost
Fairfield County,Connecticut,
U.S.A.
It gets better....
#4Consumer Suggestion
Fri, October 13, 2006
Well this just very recently happened to me. Since I initially went ahead, my paperwork was submitted and my check was cashed. Now I am lucky if my agent calls me back. I've left him 5 messages in two days regarding getting my refund and ensuring I don't continue to be charged (they automatically debit your account) and I have yet to hear back from him. BUT, when I was interested in joining, he was calling me right back each time I had a question about training, meetings, etc. Once again, another alarming warning...
Paul
Yonkers,New York,
U.S.A.
totally agree
#5UPDATE EX-employee responds
Thu, October 12, 2006
Hey Just read your comments and basically you went thru the same thing as i did. there was no way i was going to convince people i know, family and friends to join and even worse rip them off. the service they provide?? the new company i got life insurance with, the agent has always called me right away, is always polite etc. they too have great ratings, when you have over 600 complaints on this website about one company that is alarming. Yes, they stand behind the whole, well term is better than whole life etc, yes and that's true, but you know what now that everyone is selling term, why are they so much more than the others, in essence they are no different.. i really am soo pissed about this whole thing i have a good mind to join forces with another insurance company and take all their clients, that would be what they deserve..
Almost
Fairfield County,Connecticut,
U.S.A.
Definitely a rip-off
#6Consumer Suggestion
Thu, October 12, 2006
I recently sat down with a Primerica representative after a friend referred me. They took all my information and my primary concern was life insurance. The FNA and budget they provided me with is a great tool, however, they charged me $197/mo for life insurance for my spouse and I and I didn't even get the amount of coverage I wanted because of the cost. Despite my instinct, I went ahead and gave them a check and continued the process. After a couple of days I had this bad feeling about what we had just done and started to do some research. There are some outstanding life insurance companies out there with some awesome rating from S&P, Fitch, etc. AIG, Transamerica, MetLife to name a few always come out on top. I called one of these and they quoted me $78/mo for both at an even higher amount of coverage. I called my friend to ask what was in this cost and it's sad that she could not answer the question. All she said is "we provide a service that no other insurance company does". It's sad because she just quit her full-time job to do this...(good luck!!) I called the DL and he said the same thing. So my question was am I paying for life insurance or am I paying your commission and the FNA and the budge analysis and every other service you provide. Basically I was told I am paying for "the service". I wanted life insurance!!! I don't care if I get a check delivered to my house or overnighted. I don't need to pay $197/mo for that. In my case the diff is over $100/mo. I also joined and gave my $199, but needless to say I will not be joining a company that offers "complimentary" services but are charging in the purchase of life insurance. They will go on to say that all these companies have agents that are not accessible to you, you will never speak to the same one, they will delay paying your claim, etc. HOW DO THEY KNOW THIS FOR A FACT??? They cannot tell me that this top insurance companies are getting the best ratings because they don't pay their claims!!! I also got convinced into joining and gave them $199, I have since cancelled and will not sell a product that is ripping people off. And all the people I referred, I called and told them I made a mistake and not to call them back. It's unfortunate, but sometimes we have to learn from our mistakes and maybe people can avoid these mistakes by reading these reports. This web-site definitely confirmed my bad instinct.
