Primerica
Reviews and Complaints
Primerica Life Insurance Won't give straight answers
I have called my rep recently from Primerica to get a detailed explanation of my "MODIFIED PREMIUM TERM LIFE INSURANCE TO AGE 100" Policy. All he did was give me the run around and not answer any of my questions truthfully.
I been paying the premiums for this "MODIFIED PREMIUM TERM LIFE INSURANCE TO AGE 100" plan that My ex-wife purchased back in 1988.
I need as much help educating my self about this policy. I hope you can help.
Here are a few questions I had that he would not give written answers to, plus a few more questions I need answers too:
1) Is there any cash value under this plan?
2) If not, Can it be converted to a cash value plan?
3) what range should I expect the premiums to change to, if it can be converted to a cash value plan?
4) Would it be better to suck it up and cancel my plan with Primerica and go to a better life insurance company with much better return for my money. With rep's I can get straight answers from and are willing to explain the best options for me and my family. Rather than what is best for their pocket book!!!
5) Do you have any recommendations on which are the top insurance companies to switch over to?
your help with this matter is greatly appreciated.
Thank you and have a terrific day,
Miss My Brother, Who is Now a Different Person Due to Primerica
I will admit that I have read some good things about Primerica. I have also read some bad things.
I do not invest in or buy insurance from Primerica, as I have all those things "covered" through other companies. I don't really have an opinion on the services Primerica provides. But I do have an opinion on their advice to new recruits, which is basically to cut off all individuals who are not "on board". Before my brother became "part of the Primerica family" he and I were very close.
Since I would not invest money and/or purchase insurance from him, he has labeled me as "unsupportive" and has stopped talking to me. It is hurtful. He has also cut off the rest of my formerly close-knit family (parents, aunts, uncles) as well as lifelong friends. My kids miss their "old" uncle--the one who was "nice" and "always joked around" with them.
All of us have not changed. He has.
And he has because of his involvement with Primerica. Also, after a year in "the business" he has not made a dime, despite "hitting the pavement" day and night, after leaving a paying family-owned full-time job with benefits.....
PRIMERICA "FOOL ME ONCE SHAME ON YOU, FOOL ME TWICE SHAME ON ME
I had life insurance for my mom for about almost 10 years and paying about 130 every 3 months....well it so happened that i was going thru a divorce and i was stressed out and forgot to make a payment. I don't really remember how long it lapsed because this was about six yrs ago but i think it could of been roughly 2 months, well to make story short primerica wouldn't let me make the payment and they took my moms insurance away!!!
I spoke to agents managers to above management and i explained to them what i was going thru and they didn't even care so i was so so furious. My sisters and I were all making these payments together and for them to cut me off after having them for 10 years i thought they were so so shady......Now my nephew is in primerica and i told him my story so he came to do a presentation and talk to me..........i just listened cause i love him but I will never do business w/ them again ("FOOL ME ONCE SHAME ON YOU, FOOL ME TWICE SHAME ON ME LOL....NEVER EVER AGAIN"
Primerica/Best Damm company
Pyramid Recruitment Scheme, Bad Life Insurance Productions
Primerica
If you have an account with Primerica good luck if you have to change your name (marriage, divorce,..). I HAD a Roth IRA with Primerica until they would not except my documentation for a name change.
They stated the legal document (marriage certificate in this case) could be a copy of the original but the certification must be visible on the document itself. I took a clear photo copy of my marriage certificate and filled out the form which included a signed notary seal. After sending the information to them the issue should have been resolved. BUT I then received another letter from them with the same request.
I called them and said I already sent it but they did not like that the state my marriage certificate is from does not have a gold seal. Instead my certificate has a stamped unique number. They had the nerve to ask me to send them my original marriage certificate but that I could put a note on it for them to return it to me when they are done. WHAT?
It is not like the original is suddenly going to produce a gold seal. It obviously looks like the photocopy just with a little color. Name changing is very common and I did not have trouble changing my name anywhere else. I refused to send them an original document that is of such importance so they can pass it around a office looking for a gold seal that does not exist.
Solution - rolled the money out, closed the account, and am going to reinvest with Vanguard.
Shady PrimeAmerica
My mother was a client of Prime America. Why, I have no idea. She was terminally ill and in her will she stated that I receive an inheritance. The "agent" liquidated some of my mom's bank accounts and gave me basically half of my inheritance. My sister told me that even though I'd received half of my inheritance from the life insurance company, I could keep the full amount rather than give back the difference. the "agent" was the witness.
I was going to invest with Prime America because another family members savings which I believe is with Prime America is doing well. But i found out that they can only do business with people who live in the U.S. Because I still got bank statements to go to my sister's address in America, they claimed that I could still do business with them. In the end, I refused because I live in England and the bank statements are in my maiden name (haven't had time to change it). And when I told the "agent" that I won't be doing business with their company, they told me to return the "difference" to my sister even though she said I could keep it.
The so called office I went to was almost a boiler room set up - people sitting at fold up tables which is quite shady and plus the "agent"s e-mail address what not a business one, but personal.
My recommendation - run from them.
Farce
Best link for researching Primerica. Trust me.
If you're looking for the best research tool for Primerica, click on: www.simplesite.com/truthsonprimerica. Trust me.
The Truths on Primerica
I am guessing that the reason you found this page and are reading this, is because you heard about Primerica and may have seen a presentation. Now, you are skeptical and/or curious and decided to type Primerica into Google.
Good on you. You should do your research and satisfy some curiosities.
Now, would you rather take in information from reputable sources or anonymous sources?
Anonymous = fake name or no name; people who will never have to stand by what they write. Freedom of speech can be good but any website that gives the general public the freedom to voice their opinions/statements, also gives the general public the freedom to lie/exaggerate. By googling, you'll get a mish mash of competitors in disguise, disgruntled people who tried Primerica and didn't do what needed to be done and failed as a result, skeptics and naysayers, people who had a bad experience with an individual in Primerica, successful people in the company, ... The internet can be a very effective tool for falsely incriminating any company or person...
Flushing My Money Down the Primamerica Toilet
Primeamerica has actually LOST MORE money than I originally invested. They are difficult to reach, the agent we used was NOT above board and suggested we do things that were shady and would "not involve paying the federal government their taxes".
I watched my money plummet and just as it looked as if it would recover plummet again. My husbands and friends investments have realized a steady gain while mine are just pissed away.
So to be truthful, I should have bailed long ago. These guys must make a fortune on people who are not savvy about investments and I would love to hear on anyone who is not on staff that has actually MADE any money with this underhanded company.
I have been taken by Primeamerica
I have contacted Primemerica, asking them for a full refund. They in turn deposit a portion of my refund into my checking account.
However, I was told there are processing fee's. These fee's were never told to me in the beginning. I have given my money to them in all honesty. What do you think is the best solution?
I now have to write them a reconsideration letter for a the difference of $30.00. Why take some-one's money and not telling them if I should ask for a refund, there are hidden fee's charges.
Primeamerica
Xltm6,cancel my iba get refund
This is a scam.... We will train you to be an agent!
I work with state social services agency, client's mother died, Prime America paid out death benefit. All of a sudden a Prime america Agent wants to train my client the daughter to be an insurance agent.
Gets the beneficiary's information, the husband, father to my client to run a $99 (over charged) criminal history check so my client can be an insurance agent.
Person representing as a trainer now has the bank information. A concerned dad trying to help his daughter get a career has given out his bank info. We call to reach trainer... # not in service.
Calling the house presenting "opportunities"
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I understand this is a very old post but if for some reason you haven't found satisfactory answers to all your questions I can be reached at paula.a.hazlett@***.org
Get as far away from this company as you can and as fast as possible. They are involved in criminal activity and civil rights abuses.
See private sector involvement with TIPS/INFRAGARD, ect. (Similar to Stasi).
Apparently you didn't understand life insurance at all when you wrote this. Term and whole life are two separate things.
Primerica doesn't sell "cash value" policies because they are rip offs. Your return on your investment is squat to what you can do with mutual fund or annuity investments. The " cash value" isn't your money. You don't get it back unless you somehow live to be 100 years old where your value is set to be the amount of the policy face value.
When you die, you only get the face value of the policy and the insurance company keeps your cash. Primericas montra is buy term and invest the difference. They were trying to help you, but by your comments you didn't listen to a word they said.
If you don't believe your agent, listen to Dave Ramsey or Suzie Orman. They will tell you the same.
First and foremost, term insurance is where you get the most bang for your buck! If you are looking for a good return on your money (investment), then insurance is not the place to look into, because life insurance is for income protection, not meant to be a good investment!
I would look into a roth IRA and some good funds for the return on your money. I am a client of Primerica and we locked into a 20 year level plan and they offered the best value - maybe not the absolute cheapest term, but they have A+ ratings....and good value!
Charlie