Detroit, Michigan
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Hello to all I'm a primerica rep and I do enjoy it alot I have read the comments place on this site and just look at them. I look at how people used words like they made me promises to make millions and they forced me to quit my job first I would like to ask you a few questions

If you work a full time job are you force to get to work on time or can you slide in at what ever time you feel like it ?

If there's a project that needs to be finshed can you take your time or suffer being fired work long hours to completed the job and someone else getting the whole bouns and credit

Do you Have perfect attendance a lead maker at the job your employer needs to cut back as a result they give you a pink slip and say I'm sorry and thanks for the work

NO NO NO I'm not trying to force anyone to do primerica because I dont want those type of people on my team any way that are comfortable with being broke and a yes person

You are right Primerica is not for everyone but dont let your lack of belief for this company affect another you have to follow all the steps that your upline gave you or you will fail no one gets a free lunch whether you work for primerica of another company life is full of disappointments you just have to work threw them

Thanks for talking the time to read this good luck on finding what you need to change you life

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You can't even spell. There's your sign.


I want to say something; my husband was with Primerica for about 2 years and left to go to New York Life. We were totally brainwashed and scared to go, but we didn't like all the little clicks and fighting going in our little office.

When we went to NYL we found out right away that Primerica didn't know anything about the insurance industry. They just use scared tactics to teach their people to hate the bankers and insurance industry so they could sell there term. First of all when we decided to replace our term insurance with NYL's term, it was so much cheaper our monthly premium drop by half and you know NYL is the one of the best insurance companies with a lot of money backing them. Also, Primerica think that if you don't buy term you're wasting your money, this is not true either.

There is certain situation where you need a permanent policy, such a funding a trust, for special need child and in a lot of estate planning. Every person needs are different and term doesn't solve all of them. Also, people beware of buying from Primerica, they aren't experts, and they’re only part time weekend RARA salesmen.

They think that their **** doesn’t stink and the rest of the insurance industry is totally wrong. They love to argue that.


I received a call from a rep about job openings, because i applied for a job a few years ago. Mind you, not really knowing who they were because they did not post their name in the ad.

I ended up walking out of the meeting. Then to my surprise a rep called me and harrassed me because I did not want to work there because they are a jacked up company. They do not have time for their clients and this rep defended them saying that people are busy. They should not be so busy when there is money involved.

I had to hang up on her and she called me back four times. They are a bunch of crazys.


ive been with primerica for a while! i think all these ppl that say bad things about primerica have either 1) not been able to make it, 2) arent good enough 3) are too lazy to make some real money because it takes REAL work!!

These people are just quitters and have the typical cookie cutter life (which will lead to no retirement, living with their children, or working at walmart) so go ahead you cookie cutter freaks bash on primerica because it just shows how ignorant you really are! Please tell me where AIG is now?

And where is Primerica? Thank you!!!


I have gone to one of your primerica meetings and its a joke. All the people that attend were idiots without clue of what they wanted to do in life.

Most of them were highschool dropouts. The reps were a joke too. Nothing but a bunch of mindless zombies. They SAY they're not running a pyramid scheme but it pretty much is.

To the person that wrote this. What type of education do you have?


Re: Me.....Pretty much.

In no way is Primerica the largest company in the world or fastest growing, it is not even close in being the largest or fastest growing financial services firm in the world or U.S. You make a lot of false bold statements in your reply. You should get your facts straight before posting because it kind of makes you look like a ***


I have to say, I have read through a little bit of these comments, and I have to say... WOW.

Let's face it... the economy is in a hiccup. Primerica has alot to offer a person if the person is willing to open their eyes and try something new..

As far as Primerica being up for sale, I have to say, whoever buys it knows what they are investing in. I find it very interesting how for the past 7 years Primerica has been #1 in ALL finance magazines, how Primerica is worth over 2.4 Trillion Dollars in assets, how Primerica is the #1 largest financial company in the world and how the Better Business Bureau and Consumer Reports have nothing but good remarks. On top of that, Primerica is not an advisory group. It is an Analyst group. Financial advisors get paid to tell a person how much debt a person has... Analyst's don't. Let's face it, to any person who is not willing to see for their self what Primerica is about, First Hand, then that person should not be remarking about the company. Any remark is simply a speculation. If the world ran on speculation (which most of it does) then we would be even more messed up than we already are. Yes, Primerica is not perfect, nor is ANY OTHER financial service out there!

For what Primerica has to offer people, take it or leave it. I will ask this question though. If Primerica is Not such a good company, why is it the FASTEST growing and LARGEST company in the world with nothing but EXCELLENT remarks from Major national financial reporting agencies? Instead of questioning Primerica, I might question all the companies that greedily take money from people every single day, without a care in the world about how a family is doing financially.

Yes Debt is a growing problem in the World, but how many companies TRULY want to sit down and help people? instead, they say, No Credit, Poor Credit, No Problem, We have just the car for you! Mortgage companies, with an A.R.M. pretty soon, if they aren't already, they will be asking for a LEG too! What is the deal?

So with everybody questioning Primerica, maybe we should look at someother factors as well... ?

I will say this though, if all the companies in the world were as honest as they all claim to be, then there would not be any NEED for a company like Primerica.


Well PFS truth , The truth is your Company is Folding read the Wall Street Journal . You captive robot.


Hey there smarts.......AIG may have the most sales!! Do you happen to know who pays out the most death benefits in the industry????


It is about time someone posted anything in response to my post. I commend you for that. I would expect you to defend PFS. I would also expect such fine representative of PFS NOT to Cuss or Name Calling. Very, very juvenile. Besides who wants a financial advisor who talks like that. But since you wanted a “fight” I will gladly engage you in a discussion …. We will see if you can truly have a mature discussion, not a cussing match.

1. Hopefully we can agree that in the 4 LONG years that you have been at Primerica that you may not know EVERY Financial Service Company that is out there. Because most of your arguments are based on the fact that ALL Financial Services Companies are setup the same way as Primerica. Since you probably do not know ALL of them, let me make this clear to you ALL of them are not setup like Primerica. I think you missed my point, so I will make sure I am clear and put it up front this time. YOU and PRIMERICA are what is known as a CAPTIVE AGENT/AGENCY … I and SOME OTHER COMPANIES are known as a NON-CAPTIVE (INDEPENDENT) AGENT/AGENCY … That word “Compliance” that you keep throwing around is PRIMERICA COMPLIANCE not Insurance, Securities or Mortgage Compliance. The only compliance you have every known in your vast 4 years is Primerica Compliance so you think it is the only compliance.

2. You would also be surprised to know that there are other companies besides Primerica and State Farm.

3. Now I know you did a lot of research to get all your answers to your True/False Statements but it makes me wonder how much research you really did when you seemed to have a problem finding information on whether or not Primerica is up for sale.

a. Especially when I gave you the name of the source (Wall Street Journal), the date (March 28th, 200 and even the section (Section C) and the quote (“Citigroup has a major retail presence in just a handful of major cities, including New York, Miami, Chicago and San Francisco. Primerica Financial Services, which sells life insurance and mutual-fund products, is up for sale but isn't attracting buyers, say people familiar with the matter.”)

b. It makes me wonder if you really did “look hard for this one” or any of your facts. It also worries me how much you know about your own company, let alone any other Financial Services Company, if you don’t know your own company is up for sale.

c. However I know with your vast years of experience it was probably just an over site to miss the exact quote and the referenced material. Hey wasn’t the Wall Street Journal one of the items you said we should read … since you are reading it all the time why not just get one of your old copies from that date and you should be able to find it. Since I know you actually read the Wall Street Journal and other publications and you are not just regurgitating information and excerpts from Primerica, your RVP and other RVPs.

4. Also how can you not know what it takes to own your Primerica business? You have no way of looking up and verifying the 3% growth…. This is your business, you know ALL the ins and outs of Primerica and the Financial Service Field, how can you not get that information … how can I get it and you can’t.

5. The info about who sells more Term Insurance is not “fuzzy” look on LIMRA’s site … I know you know what that means but for the people that don’t know … that it that site that keeps track of all of the Life Insurance sells for the entire industry …. You can probably just use the id that you already have setup … and find out that AIG is the largest seller of term insurance (policies and face amounts) … Primerica is not even close.

6. You should of heard of this company when you purchased your E&O Insurance … you do know what E&O Insurance is … don’t Google it …. Without looking it up on the internet … as a Financial Service Expert you should already know what E&O Insurance is and you should also know why you personally have not purchased it … for your “business” …. I will give you a hint … it has to do with your captive agency AND you not owning your business. But you know all that already.

7. I have NEVER sold anything but Term … I have never “upgraded” a client to Cash Value or any form of Cash Value … I always sell term and I always sell Term that is less expensive than Primerica and allow them to INVEST MORE of the rest then Primerica does. I want my clients to save money not .. spend it. There are a lot of people outside of Primerica that feel that way … that’s right the entire industry is not evil.

8. It is only illegal to “Sell Away” if you are CAPTIVE. Let’s say, hypothetically, you were non-captive/independent. (I know this is a new concept for you but for the sake of argument lets say it is possible.) And you had access to more than one Insurance Company … all with different underwriting requirements … so that if a client was not approved my one company because of their underwriting requirements .. you could get them approved under another … maybe some companies even have no underwriting requirements and it is still term insurance … that is some crazy stuff right … I know in your captive world this is hard to understand but it is done in a non-captive world.

9. Did you say you are “Fuzzy about the “Verdict” on whether “America is about choice” ….. Capitalism, which I love by the way, is a choice … but since you seem to like Capitalism as much as I do … it might pain you to see the definition: An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market …. Did you catch that … “a free market” … to only have one company (Primerica) that you (the agent) can work with … looks more like you are in a Socialist agency to me than Capitalist …. An Independent agent is a Capitalist.

10. Now to help you understand that a independent agent does not work out of “his trunk” or in “his basement” … let me ask you something … do you have people come to your office to do appointments … are you one of those agents that make the clients come to you … or do you make it easier for your clients by going to their house ….. How many of your clients have actually even been to your office? …. How many life apps do you have in the back seat of your car? … You are not working out of your trunk are you?… You see I have an office but most of my clients have not seen it because I meet them at their home. Some Independent agents who don’t have an office … actually have the money to treat their clients to lunch or dinner if they can not meet them at their home.

11. You want to get your clients to get Millions of Dollars of Investment …. How long do you do Dollar Cost Averaging for your clients? Is it ok for them to lose money, when there are ways to dollar cost Average without losing money and still get the higher rate of return long term? Maybe you have made so much money at Primerica that you don’t worry about your money when you are losing it but some clients don’t like the feeling of their hard earned money leaving them in bad times … Do you know of any options for a middle class family to guarantee a minimum growth on investment AND still get the full effects on Dollar Cost Averaging with High rate of return? … If you can’t answer that question maybe that is why you don’t get a substantial amount in securities. And may also explain why my old RVP just lost a $1,000,000 investment client because he was sick and tired of losing money for the last couple years ($60,000 in the last 2 years) …. But maybe you can give him a “rah rah” speech about “Hang in there because I learned a new phrase called Dollar Cost Averaging” He didn’t make it to $1,000,000 in investments by being *** and listening to buzz words … he does research and got tired of listening to “his friend” who worked at Primerica.

12. So you are telling me in your vast 4 years that you can tell me for certain that the ONLY time a Primerica agent, in over 30 years, has been rolled back is for compliance issues. I know for a fact that is incorrect … or as you like to say Verdict: False…. It doesn’t even make sense to roll a person back if they violate compliance (Primerica’s or Government’s compliance), do something illegal, have a poor quality of business, or practice poor ethics … it should be an investigated (innocent until proven guilty) and if found guilty … immediate dismissal .. not rolled back. Why have a person in your organization that was found guilty of one of these things. The roll back is there for production and for RVP discretion.

13. Are you sure there are NO Financial Firms that will allow you to work part time AND own and office? …..and … Are you also sure there are NO Financial Firms that will not let you work in another Financial Field and also work for their firm? … and … Are you sure that they “Will require you to drop several thousand (often in the 6-figures) in franchise fees” before you open your office? … Wow … I should really go tell some the independent agents I know that what they are doing every day is IMPOSSIBLE. .. and … I am not sure how I owned an office when I was part-time …. And … I must owe someone a franchise fee … so please let me know who to write that check to. Should I stop selling health insurance and disability insurance too? Just because Primerica doesn’t sell it, doesn’t make it non-compliant, it makes PRIMERICA Non-Compliant.

14. You have only had 1 chargeback your entire career in Primerica? … that would mean every person that you have ever put an app in for was always approved, not rated, always accepted the policy and never looked for a lower rate during the underwriting period? Since you are paid on submission that would be close to impossible … you want to change your statement about only 1 chargeback.

15. How can some who preaches about ethics vs money … then say “Eh, its business” when it comes to Interest Rate on a Mortgage. I can show a person how to pay of their 30 year mortgage in 12 to 18 years … biweekly without a charge to do it …. With a lower total cost AND give them the lowest interest rate. Primerica has not cornered the market on that … they are just the only one doing it AND charging a high interest rate. If you think your clients don’t care about 2 interest rates points … what ethics do you have?

16. Do you think one of the companies that created this whole sub prime mess, Citi, just got a conscience when it comes to dealing with Primerica. Those loans come from Citi not Primerica … have you read ALL the documents or do you just sell them. They may be fixed but they are drenched in fees and high interest rates.

17. As for a new recruit … why not do this:

a. New Recruit says I am interested in getting in to Financial Services.

b. New Recruit pays NOTHING ….

c. New Recruit goes to licensing class FREE …

d. New Recruit goes on training appointments that I set up in MY MARKET from the referral I have made from clients I have saved money for …

e. New Recruit Learns even more and still hasn’t paid anything.

f. Independent Agent Pays for New Recruit to take the test.

g. New Recruit passes the test

h. Independent Agent Pays for the rest of the New Recruits State Licenses

i. New Recruit is taught to set appts in his market

j. Independent Agency does the appt with the New Recruit and the New Recruit signs ALL sales (No Split Commission)

k. New Recruit gets 60% of the Sale (The bulk of the Commission)

l. Independent Agent gets 30% Override

m. Independent Agent shows New Recruit how to get Referrals from Happy Clients

n. New Recruit goes on as many appts like that the New Recruit wants to.

o. New Recruit has the choice whether to continue to make clients and still get promoted from Sales without Recruiting or The New Recruit can begin to Recruit People at any time and continue the Training Process Stated above or do both.

p. No Negative comments are put out about the Independent Agency because it is a win win situation because Independent Agent never ask the New Recruit for money and showed him how to make money in the Independent Agent’s market and the New Recruits Market.

q. Or is that not compliant too because that is what I do all the time.

18. As far as the replacement system, why not do this:

a. A person ready to open his/her own office .. they keep their entire team and you still get overrides … if you want to hire more people you can … and they too keep all their people.

b. As a matter of fact why not hire people and put them under people already in the organization to help them along.

c. If Primerica is filled with ethical people why are they “forcing” them not to be lazy. I work to help people no one has to force me or any of the other Independent Agents I know.

d. I saw plenty of lazy RVPs at Primerica because they knew that they were going to get your biggest leg no matter what you do … and you had to start from scratch again …. it what you called “retired RVPs”

e. Since it is your business … it should be an easy change for you to make … since you are so ethical …. oh that’s right … not your business.

f. You say it would lead to more complaints … How come you haven’t heard complaints online or any where about companies that are already doing that?

19. M_yates09, you see you have the false impression that the entire industry is captive. You are sadly mistaken. You see you are use to “fighting” with someone who knows what you have because I have been there but you have NO IDEA what I have … I do what you do and then some. You can’t with any logic lay your opportunity side by side of mine and say “Yep, Primerica’s better” …Your normal arguments don’t work with me:

a. YOU: It not a pyramid scheme - ME: I know it is not … pyramids are illegal, Primerica is a brokerage like any other brokerage

b. YOU: Jobs Suck and are a waste of time – ME: I know they do that why I don’t promote them, if someone is happy at one, good .. but I don’t see many people that are

c. YOU: Cash Value Agents are evil – ME: Yes they are and if I ever get a hold of the agent that sold my parents that Cash Value Policy I will have a few things to say to him too.

d. YOU: There are some bad people in our company just like any other company – ME: If it is YOUR company and you own the business kick them out because I don’t want bad people representing my company.

e. YOU: Our company is just like Christianity – ME: When in doubt, use religion. How much ethics do you have to compare Primerica to Jesus Christ. I for one take a lot of offense to that.

20. See here is where your “fight” with me is M_YATES09 … Explain to me how on earth:

a. Being a Captive is better than being a Non-Captive, especially now that you know that it is not true that “The whole industry is like that”

b. It is ok to sell term life insurance that cost more than other term life insurance … don’t believe me check online … put your info in any life insurance engine site and tell me it doesn’t come up cheaper than you are paying (bet you AIG beats it)

c. Make any recruit pay to join before they know that they can or want to be in this industry. You are making so much and you are “hiring” them (by the way … don’t let compliance hear you say you are “hiring” them) pay for them. Any time I have hired someone at my Independent Agency … I pay for them.

d. Would you not train a new recruit in your market … or do you not have a market to train them in?

21. Since you said you expected a “fight” about this topic …. I will gladly give you one … in ANY format … on here …. In email … online … on TV … but before you agree you better stop being naïve and using the same standard answers I used to give and learned from others in Primerica. Being a non-captive agent is a whole new world from the captivity and hiding behind momma’s skirt at Primerica. Get your facts together on your own …. Not from your RVPs Saturday morning training or Op Meeting. I save more families money in a week then you do in a month, I have recruited more quality people then you ever will, I have helped more people reach their goals and NEVER taken a dime out of their pocket. So wake up and stop playing in the little leagues, talking tough because you are only 10 x 10 for the month and your RVPs base shop thinks you are a “double stud”

I will be waiting for your reply!


This is a COMPLETELY honest evaluation of Primerica Financial Services (PFS). I have been with the company for over four years now, and have had, in my opinion, a great deal of success. I will spare the details of my situation to avoid being accused of being bias, but I will be the first person to tell you Primerica doesn’t get everything right (Who does?). The problem with this site and others like it, it often attracts the stupidest people to them… both for and against PFS. There are very few intellectual comments on these posts, but I will give an honest critique of one of the more popular and well-written anti-PFS threads.

Let’s get a few things clear up front:

1. Primerica is NOT perfect. Big surprise… nothing is. Furthermore, if you feel going to a website specifically designed for *** at whatever you happen to disagree with is a valid source of information, try searching for a few other areas of your life:

* Search for a website designated to bashing Christianity and see if there’s some valid information on those sites. “Prayer didn’t work for me… Christianity is a scam... Tithing is just a way for greedy preachers to get YOUR money!” These are not my words, but they are words that are out there. Are they true? Maybe… maybe not. I choose not to believe them. My point is if you’re activity LOOKING for negativity, trust me, the world is in no short supply of it. So my advice with ANYTHING… look at both sides fairly.

2. There are a LOT of people in PFS that shouldn’t be. That’s kind of a given, also. Call me an elitist, but I feel WAY too many people are given an opportunity with PFS that shouldn’t be. The advantage with PFS is the company is not going to pre-determine your inability to be successful based on your lack of a Masters in finance. However, many managers in the past have interpreted that as ‘We’ll hire anyone and everyone.’ That’s not the case with me. I turn down *someone* virtually every month… sometimes several people in a month.

When someone comes on board in PFS and they are an ***… or have no work ethic… or have no ethics… they give the company a bad name, and of course are often the first ones to come onto sites like these and say, “It’s a scam!”

Is everyone who doesn’t make it in PFS this way? Certainly not… but from my experience it IS the ones who generally suck in one form or anyone that are the most outspoken about how it’s the company’s fault.

In my opinion, PFS would have a better quality of business, as well as a better name, if these people never came into the picture. I am very careful and particular with the people I choose to hire… and I make it very clear to them up front, so there is NO confusion:

* It’s hard work

* Don’t expect to get paid until you’re licensed; don’t expect to get licensed without going through a few months of training

* If you listen and do what I say, I WILL make sure you make money if you stick with it and stay tough.

* Don’t say ANYTHING about products you’re not licensed in / with.

I have as much to cover my own *** as my new associates do in terms of compliance, and client confidentiality. There are no tricks… my new reps know what they are getting into. Again, not everyone does that… many ‘recruit’ on hype and these great marshmallow-cloud dreams that, while they may be true, are somewhat deceiving when you forget to bring them back down to reality about the position. I DO feel that anyone I bring on board fails mainly due to their own lack of follow-through and work ethic… and because they read garbage on these sites like these.

Again, not everyone conducts business this way… but I do, and I am very proud of it. I am very real and very fair, and truly work very hard to ensure those who show up and are dedicated succeed. Bottom line.

3. Primerica is NOT a scam. Primerica is NOT a pyramid. This one REALLY irks me. People, let’s get some facts down before you ramble on about so-called ‘facts’ that are CLEARLY not true. So let’s get some actually facts down on paper:

* Pyramids are illegal, and consist of a system set-up in a way that ONLY allows people to make money from recruiting… systems that can IN NO WAY make money selling products.

* Primerica is a Brokerage… just like:

- A Real Estate Brokerage

- An Investment Brokerage

- A Travel Agency

- A Bank

Don’t like the fact that your manager makes money off your success / business? TOO BAD. WELCOME TO AMERICA. Take a look at your job… the owner’s making more money off your efforts that you are. If that’s not the case, be expecting a pink slip. What about in real estate… an agent sells a house and makes 3%... THE BROKER MAKES 3%! For some of you, this is your opportunity to shout “OMG!!! SCAM!!!” But that’s just business in a capitalistic society. If you don’t like it, move to a communistic country and try that for a while.

4. The fact that Primerica markets loans, insurance, and investments means it is regulated by THREE SEPARATE industries. Guess what… I think somewhere in all that regulation, if there WAS anything illegal going on, they’d find it.

5. Smart people don’t judge an entire company / entity / organization by a select few isolated instances. Go up to a Catholic sometime and say, “Hey isn’t your religion based on molesting little boys?” Did I just type that? Yes I did. But that’s EXACTLY what some of you are doing… “Oh, look at this ONE ISOLATED INSTANCE.” Okay… refer to point one. Primerica, like EVERY OTHER BUSINESS, ENTITY, and ORGANIZATION ON THE PLANET is not perfect. I’ll be the first to say it. And some of our reps are FAR from perfect. But look at the company as a whole before you make ridiculous judgments on a small collection of instances, hand-picked for their negativism.

Now then, onto the non-bias counterpoints of this thread I’ve seen in a lot of places…

1. Primerica is NOT the largest seller of Term Life Insurance … AIG is … look it up.

* Verdict: Fuzzy. AIG certainly sells a lot of term insurance. No question about that. And current numbers are often hard to obtain. But here’s how it breaks down:

AIG sells more domestic (In the US only) term policies a year than anyone else.

PFS sells more domestic face amount (total coverage) a year than anyone else.

If you combine their international business numbers into the equation, PFS does sell more term policies than AIG.

2. It is way MORE expensive then most Term coverage outside of (State Farm and Allstate) … so if you are TRULY trying to save people money … why not find them the lowest instead of just what you have to offer. Remember you are trying to SAVE them money. Some Return of Premium Products are less expensive then Primerica Term. You are hurting your client. After knowing that how can you still sell it.

*Verdict: False. Some key points here are:

In my experience, YES *some* PFS term policies are more expensive than those from another company… but it doesn’t happen often. PFS has VERY competitive term rates… also, PFS is one of only 3 companies in the US to offer 35-year LEVEL TERM… which can be an excellent buy if you’re really young or starting a new family.

Also, you must keep in mind if a company markets ANY form of a whole life or cash value policy, it’s often the first product they push. Even if you get a competitive term policy from a non-PFS carrier, be expected for the constant attempt to convert or ‘upgrade’ you to a cash value policy. If you stay strong over the years, in *some*, but no most, cases, sure… you could save a couple bucks here or there… I admit that. But for *MOST* clients, PFS term will be the cheapest, and you’ll never be pressured to convert to a cash value policy.

3. What would you do if your client is declined by Primerica. Tell them they don’t deserve life insurance then. You see this is what opened my eyes up, because my father was turned down by Primerica. Was I suppose to tell him “Oh, well .. too bad”…. No, I did what any good son would do, I started looking at other companies and found he could be covered with term insurance by them, for less then what Primerica was going to charge.

*Verdict: False. Oh yeah, that’s EXACTLY what I do. “Sorry, Mr. and Mrs. Client, looks like God hates you, and you don’t deserve life insurance after all.” Please. I hope that if you’re reading all this, you can see that this author clearly had a bias negative opinion of PFS. Never ONCE have I EVER heard of telling a client ‘Too bad’ and walking away. Does it happen? Oh, I’m sure it has, but what this poster has failed to mention is a clause in ALL financial institutions, companies, and positions called ‘Selling Away.’ You see, even if you WANTED to try to help this client find something that would work for them, it’s illegal. And that’s NOT Primerica’s rule… that’s the INDUSTRY’S rule. It’s simply a conflict of interest, and the industry frowns deeply on this… REGARDLESS of what company you represent.

This poster really takes industry rules and standards and twists them to make Primerica sound like the bad guy. PFS is NOT the bad guy. Primerica and Prudential set the confidentiality and compliance standards that the REST OF THE INDUSTRY has to follow. On the contrary, the reason some agents from other companies *would* help you do this is not because they’re swell guys, but rather because they BREAK THE LAW. Primerica abroad is one of the best companies in the North America finance industry to follow and maintain compliance.

If a client of mine happened to have this situation, by LAW I can only say:

“Mr. and Mrs. Client. I have the documentation we sent in for your insurance coverage, and it looks like at this time we were unable to provide you with the proper coverage you need at this time. By law, I am prohibited to assist you in searching for another company to provide this coverage, but I hope that the education I was able to provide helps you determine the appropriate coverage you need, and I strongly suggest looking exclusively for a term policy, for the reasons I have already shared with you.”

DON’T LET SOMEONE TELL YOU PFS IS UNCARING BECAUSE WE FOLLOW THE LAW. We do care. I care. But the law is the law, and I can’t help any future clients if I get my license revoked.

4. Term is the right product for 95% of people (sorry not 100%), the problem is you only sell Term which is great but what do you do when you run across a person that is in the Top 5% … Also think about it … aren’t you trying to get all your clients and yourself to that Top 5% … what do you get when you are there?

*Verdict: COMPLETELY FALSE. I love it when cash value agents (which I question if this poster might be) say, “Term’s not right for everyone” but then cannot think of a SINGLE LEGITAMENT example of when a cash value policy would be a better fit.

Some may say, “Well, what if the client has a lot of debt, and is old, and already has a whole life policy in force, and is no longer insurable?”

Yeah… okay. In that specific example, there’s not a lot anyone can do, can they? Does that make it right? NO. Some people are just screwed because they’ve made some poor choices in life before we were able to sit down with them. Just because we’re too late to help them does not make this right.

That’s like saying, “Well, what if the house is on fire and no one has a hose, and the roads are too icy for the fire department to get there in time? THEN can I run in to save my cat?” Yeah, in that rather unlikely and very specific example, sure… but that doesn’t mean playing with matches in the first place was the right decision.

The point is cash value is ***. That’s not just PFS saying it… read what articles have been published in the Wall Street Journal, or Forbes, or Smart Money, or MSN Money, or any of the other third-party material from Dave Ramsey, Suze Orman. The fact is there are mountains of published articles, journals, and studies about what an absolute scam (for those who like using that word) the cash value industry is. If cash value is so great, why is that they had to muzzle the FTC?

I suggest doing your own search on what the Federal Trade Commission had to say about Cash Value Life Insurance in 1976 and 1985.

5. You are taught with your mortgages to say “Interest Rates do not matter” or “Ours are calculated differently” … If it doesn’t matter then why not give them a competitive one. I also dare you to put that in writing, Home Office Compliance would be down your throat quick because they know it is not true… so they don’t want it in writing.

*Verdict: True… Sort of. This guy (girl) is completely dead-on about this. Give him some props… he makes a good point here. PFS compliance would NEVER want someone to put into writing “Interest Rate doesn’t matter”… because it does.

However, from first-hand experience, I can tell you about multiple times I have done a re-finance with a client, showed them how to properly apply bi-weekly payments (and it DOES matter how soon the payments are posted for this to work) and knock down a 30-year mortgage in 18 years simply by having that extra 13th month payment in there. (There are 52 weeks in a year… if you make ½ your mortgage payment every 2 weeks, you’ll have two months where you actually pay 3 payments every year… and hence, it’s like paying an extra month’s worth in principle every year.)

To my knowledge, the $.M.A.R.T. loans (Primerica’s refinance loans) are the ONLY loans to include three VERY important factors:

*Payments are posted the SAME DAY they are made every time.

*The loans are already able to handle bi-weekly payments with no additional charge… in FACT if you set your loan up this way, .25% is knocked OFF your total interest rate. They give you a DISCOUNT for making the arrangements to pay your loan of early.

*They give you the education you need to understand the bi-weekly system, as well as to see its value.

Because of these factors, they charge a higher interest rate. Is that right or wrong? Eh. It’s business. We could argue this point for hours. However, let’s talk about the examples when PFS with put IN WRITING that re-financing with them and making these bi-weekly payments will save a client $75,000 in interest dollars over the next 30 years, and will have the client out of debt 12 years sooner than they are currently on track to accomplish… my question is this: Faced with facts ON PAPER… if we can re-finance, save them $75,000 and 12 years… do you think most clients even CARE if our interest rate is 2 points above what they currently have? No. Never a single time for me, anyway.

Does interest rate matter? Sure it does. But when put into proper perspective in relationship to interest dollars coming out of your pocket, and the total amount of time you’re going to be in debt… most people find interest rate to be a lot less of a big deal.

*KNOW THIS: If you shop for a loan looking only at interest rate and monthly payments, more than likely, YOU’RE GOING TO GET SCREWED. Don’t believe that? Take a close look at our current housing crisis… most of these sub-prime borrowers received great interest rates and low monthly payments…a t least, for a while. The interest rate on an interest-only loan is normally a LOT lower than a fixed loan… and the payments are often much less, also… but guess when an interest-only loan is designed to pay off? NEVER.

It is the total COST (in dollars) of the loan, and the total TIME (in years) it takes to pay off the debt that determine the true value of a loan. If all you look at is interest rate and monthly payment, you’re more than likely going to be screwed.

But yeah… I guess I’ll give this guy a point here. Interest rate does matter… it’s just third or fourth on the list. PFS will teach our clients what REALLY matters in terms of a loan.

6. With your investments … the market is down right now … am I suppose to sink money in an investment I know is going to go down right away …. That’s right Primerica has annuities now … even though just a couple of years ago annuities were “evil”.

*Verdict: FALSE. Man, has this guy ever heard of Dollar Cost Averaging? For the *** of it, look up Dollar Cost Averaging and see what Warren Buffet thinks of that strategy.

As long as you’re in an investment with a proven track record and stable management, you end up making MONEY during the ‘down times’… because you’re purchasing shares at a discount. When douche-bags like this guy freak out when the investments are “going down”, they LOSE MONEY. Remind me, is the classic first rule of Wall Street “Buy High, Sell Low?” No. But if you invest money in a fund or annuity, and the next month it takes a dip, so you sell your shares… guess what brilliant tactic you’ve just executed.

YES… you will want to do plenty of your own research in terms of what makes a mutual fund or annuity a stable and solid investment… but listening to this guy talk about investments is just plain rubbish. Again, don’t take my word on it… look up ‘Dollar Cost Averaging’ and see what well-informed, third-party references have to say about it. Investing a set amount of money every month is a great way to build wealth: Either your share value goes up, or you get a discount on the shares you buy that month. It’s a win-win.

7. A client’s money is sacred to them … why would they sink it into a company with so much negative press, it scares them …. Why do it …. When they can get the same thing for less with less negative remarks…. For all the agents who say that is just “some” agents that act like “that” …. They represent YOUR company and because the RVPs don’t care what type of people they are as long as they have $199 (now $99) so the RVP can win the next contest.

*Verdict: False. I’m really trying to give this guy the benefit of doubt, but he’s so off-mark with some of these comments. In all fairness, sure… some of our Regional Vice Presidents act like that. I’m very sorry about that… they DO give our company a bad name, and I wish they were terminated. But, again… not all of them act that way. In fact, I would say a majority are on the same page I am on the topic.

However, to ask, “Why would you invest in a company with so much bad press?” is a pretty lame argument. Again, I refer to Christianity… and how ‘unpopular’ it was during its rise. Perhaps we’re so ‘unpopular’ because there are so many companies doing business wrong, and we’re the only ones doing it right.

What’s right is not always popular. I’m prepared for that. I have the opportunity to go work for another company… one with less ‘bad press’… but my ethics really do keep me in Primerica. That’s a good enough answer for me… perhaps ethics is not as important as popularity to some. Certainly if it was, we would not see the bullying / hazing that we do in the American school systems.

But Most of you aren’t in Primerica because of the products, you are in it for the business. Because you think there is nothing is better then owning your Primerica business. It is definitely better then Corporate America that is for sure. Here is where I look at you like teenage kids with your first beat up car speeding around town like you own a brand new Mercedes and I tell you to “slow down and think” .. you will either listen or will crash and I will say “I told you so”

How many of you TRULY read and understood your IBA contract when you signed it? Let me go over some things before I enlighten about your IBA contract:

*Verdict: True. I completely full-hearted agree with this guy on this point. More emphasis should be made on making a new associate understand his or her IBA. I will point out this IS something I do, but it wasn’t done for me when I filled mine out.

This is an area where PFS should certainly approve.

1. How can you tell a new recruit that you can make a lot of money before you actually do it. Doesn’t that feel wrong to you?

*Verdict: False. My success does not cap those who I hire. In fact, the company is littered with dozens of stories of just that. Telling a new associate “You can succeed here. You can make lots of money.” IS TRUE… regardless if I have or haven’t done it personally. Now, in my case, I HAVE done that… It’s a lot easier to communicate about how to make money when you’ve actually done that. Certainly.

2. The money you are spending for your IBA DOES NOT pay for your license… it pays for processing and your Licensing class …. Most states don’t require a class why does everyone have to pay for it.

*Verdict: True… sort of. It’s funny how PFS will be called a ‘bad guy’ because we hire school teachers and nurses and teach them how to become financial managers AND AT THE SAME TIME are criticized for making our pre-licensing classes a mandatory requirement. In my opinion, ALL FINANCIAL COMPANIES should require mandatory training. I mean, you’re going to complain our reps aren’t knowledgeable enough about the industry, and then complain about how we make training mandatory before they get licensed? Wow… congrats on your logic.

3. Why can’t a new recruit go get your licenses BEFORE you sign your IBA?

*Verdict: False. THEY CAN. It’s happened. I’ve recruited former State Farm agents. They had their licenses and came on board… and guess what…they DIDN’T have to pay for their pre-licensing class or materials because the ALREADY HAD A LICENSE.

I chalk this comment up to sheer ignorance, because PFS is set up so you CAN get licensed before coming on board.

4. Why can’t new recruit go see clients AFTER you are fully licensed and then sign ALL transactions? I know why this is the case …. Most agents are not making money so they need to sign it to make money and they are afraid the recruit will quit.

*Verdict: False. I know this one first-hand… because that’s EXACTLY what I did. I didn’t go on any appointments until after I was fully-licensed for this exact reason. So, the answer is, once again, YOU CAN DO THAT.

Now, here’s the reason we encourage new associates to get out in the field A.S.A.P. rather than waiting to get fully licensed:

Unless you are absolutely sure this is the line of work you want to enter (which I was) your licenses are going to be a big up-front investment… AS IT IS FOR ANY FINANCIAL COMPANY YOU GO WORK FOR. We like to prepare our new reps for this line of work BEFORE they have sunk their money into some licenses they will never use again. (After four appointments, what if the rep decides this line of work is just not ‘for him’?)

Also, it does help many new associates to have some field experience in coordination with textbook teachings to properly put together the pieces of the industry and our products.

I would also like to state that if we made it mandatory to get fully-licensed BEFORE entering the field, how THAT, TOO could label us the ‘bad guy.’

Can’t you see the forums spammed with “I spent $853 on licenses that I used for a month!” ?

The truth is you have a CHOICE in the matter. You can do what I did… which is exactly what this guy is suggesting you *can’t* do… or you can jump in the field first to see if this is even something you will WANT to do as a career.

5. Why beat around the bush when saying the name Primerica ….. you are taught to say “Division of Citigroup” …. “Member of Citigroup” ….. “Largest Financial Services Distribution Hub” ….. “PFS” ….. anything but Primerica … it goes back to the bad rep .. and the fear that the new person will Google the name Primerica

*Verdict: True. He’s right about this one. Primerica reps are taught to say ‘A division of Citi’… but I don’t think that’s so much a ‘avoiding bad press’ move as it is a ‘People know Citi’ move. Now, in some parts of the country, perhaps it *is* more of a move made to avoid bad press. But I’m not ashamed to tell someone I’m with Primerica… and I have had all forms of responses.

MOST people (I estimate 60%) , in my experience, have never heard of us… one way or another. After that category, (About 25-35%) the second most-likely group of people is those that have heard of us, and have a favorable opinion of us. And THEN there are the groups (About 15-5%) that have an unfavorable opinion of PFS… be it they or someone they know was ‘in it’… or ‘did that thing for a while’… or enemy agents. But it truly is a rarity to run into those people… don’t believe all the negative press… we do NOT have that bad of a reputation at all. As for me, if someone does fall into the last category, I know enough to stand my ground… I’m not afraid of a confrontation… even if it is in the line of a KFC. 

6. People who leave Primerica are not quitters or couldn’t make it at Primerica … people making six figures have left Primerica for better opportunities … you just don’t know they exist.

*Verdict: Fuzzy. While there are certainly those who leave PFS for better opportunity, I would say a vast majority leave because it is either too hard, or they listen to someone who is negative, or doesn’t have their facts straight, and are convinced PFS is a ‘scam’. Again, refer to point three of my opening arguments.

And, yes, I DO know of RVPs that leave PFS for, what they believe, are ‘bigger and better opportunities.’ And while they are not advertised, give me a company who DOES advertise those people.

“Hey, guys… gather ‘round. I wanted to let you all know Joe has left our company to go work for a company that he believes will treat him better and pay him more money. Okay, back to work!”

Again, no business does that… but for some reason, PFS is targeted as a ‘bad guy’ for this example. Rubbish.

7. You would NEVER be able to recruit a person who is already licensed and knows what questions to ask.

*Verdict: Completely False. Again, I have recruited State Farm agents PERSONALLY. It can be done, it has been done… the problem is ethics have to be more important than money, and to most cash value agents, that’s simply not the case.

8. Citigroup (not in the best financial shape right now and has Abu Dhabi is now the largest shareholder) is looking to sell Primerica …. FACT … check out the Wall Street Journal March 28th 2008 Section C … “Citigroup has a major retail presence in just a handful of major cities, including New York, Miami, Chicago and San Francisco. Primerica Financial Services, which sells life insurance and mutual-fund products, is up for sale but isn't attracting buyers, say people familiar with the matter.”

*Verdict: Fuzzy. I have looked hard for this one, but I could not find facts to either prove or deny this claim.

Now on to the IBA…. The moment you sign your IBA these things happen:

1. You become a captive agent ….. not allowed to sell anything Primerica does not offer …. Hand cuffing you to fully help your client.

*Verdict: True. While you are still fully-able to sell products not related to any area of finance (I.E. Cars, Furniture, Etc.) you are prohibited to sell any financial products while an agent with PFS. HOWEVER, don’t let this guy make you think that is a PFS-only rule. The ENTIRE INDUSTRY is like that. Case in point, while an agent with PFS, no bank will hire you, no insurance company will hire you, no investment firm with hire you… it’s called a ‘Conflict of interest’, and for those of you I need to explain the laws to, this is industry standard.

2. You only have one company to work with Citigroup…… why not allow you to use any company you want …. There are companies that do.

*Verdict: True and False. While it is true you can only market the products of Citi subsidiaries, it’s completely FALSE to say other companies allow you to market the products of another company in the same field.

What you CAN do is work for a referral agency, which basically means you don’t even have a license, but you refer clients to agents who do have a license, and you receive a referral ‘fee’ as your commission. That’s good and all… and you can do very will with those agencies, but referral agencies don’t market… they REFER. Big difference. Don’t confuse their liberties to work with multiple companies as a referral service and the inability to work for another financial company as a marketing service.

3. You have to give up a “leg” (your MOST productive team) to become an RVP …. Why not let them become an RVP AND keep their whole team ….. Other companies do it

*Verdict: True. This is completely true. To promote to an RVP status and open your own office, you must give up your most productive sales manager. However, a couple things to note here:

Most companies don’t require you to do that, but WILL require you to drop several thousand (often in the 6-figures) in ‘franchise fees’ before you open your own office. Sure, you keep your entire sales force… but don’t kid yourself, you pay for that office in one form or another.

Secondly, again, this is a situation with PFS where if they DIDN’T do it that way, they’d be flamed, also. People think it’s unfair when one person (say, an RVP) makes a lot of money sitting on his *** from his super-productive sales force. Aside from my opening argument point three, if an RVP WASN’T required to give up his most-productive sales manager, this would breed more of an environment for laziness.

If a soon-to-be RVP had only one really-productive sales manager, how easy would it be for him to coast on the efforts of his one strong manager? If you really want to get technical, it’s the lack of a system like this that leads to a lot of laziness in the branch managers and office managers with other financial firms… because the really good sales managers make a lot of money for their office managers, but cannot afford the franchise fees to go out on their own.

4. Hear me when I say this!!!! YOU DO NOT OWN YOUR BUSINESS!!!!! Don’t believe me … ask your RVP if you move to a different company can you take your clients or team with you ….. you will find out real quick … read your IBA it says it in your IBA .. your RVP owns your business … you do not own your business until you are a Senior Vice President AND have had 5 years of at least 3% growth. … Until then your RVP owns your business … even after you become an RVP…… there are other companies that allow you to take your clients with you.

*Verdict: True and False. Completely true. For compliance reasons, you have to become an RVP for five years (I can neither confirm or deny the 3% growth stat) before you own your business. However, once again, if we didn’t do it that way, I’m sure there’d be just as much hate mail from those burned by newly-appointed RVPs. PFS takes their offices very seriously, and makes sure to maintain a certain level of accountability and watchfulness on new offices.

It is false that other companies will let you take your clients with you. I know this from first-hand experience with my former State Farm agents. Virtually all companies have you sign a contract that prohibits you from soliciting a former client for the first three years after you begin working with a different company.

5. I will preface this comment …. I am a huge believer in recruiting ….. I love recruiting and I am good at it …. BUT you should not have to be forced to recruit to be promoted … you should have the choice to work yourself or recruit and have the same opportunity … America is about choice.

*Verdict: True. I wish you could earn more promotions than you can without bringing new sales associates on board. I don’t know how valid the ‘America is about choice’ line is after all the ‘It’s unfair that people make money off of other people’s sales’ line… because American is ALSO about Capitalism.

But this is true, nevertheless. I won’t shy away from it. I wish it were different, and that you could earn promotions based solely on your own efforts… it’s simply not set up that way. Okay, so that’s one valid point in… how many? Twenty? Moving on…

6. Your Securities (investment) commission is HORRIBLE….. there is NO WAY you could live on it alone .. add it up.

*Verdict: False. In the first three or five years? Probably not… but to say there’s no way, when so MANY agents are doing just that… false. I may not make a substantial amount on securities, but I make enough every month to pay for my mortgage. And how exactly do you define “Horrible”? Horrible it may be if this was your full-time job… but remember a lot of intelligent, competent people work for PFS on a part-time basis… so a mortgage payment every month may not feel so horrible to them.

7. You IBA has a non-compete clause in it …. Which means try to leave for something better … see how nasty your old “friends” get.

*Verdict: False. I have former agents who decided PFS just wasn’t for him. He’s still my friend… he still calls me for questions and advice. Furthermore, there’s nothing in the IBA that states, “If you leave, everyone will hate you.” I don’t even know how this statement even resembles am intelligent argument.

8. You have to be full time to become RVP …. Do you forget some people like their job … pastors, teachers (I know the company was started by teachers … but you fail to realize A.L. Williams was a different company then Primerica) or anyone else that would like to keep their job.

*Verdict: True. God, looking at these arguments objectively, you have to admire the creativity of dancing around the hypocrisy. How many financial firms allow an agent to work part-time AND own an office? Let me check my figures… oh, that’s right: NONE. It’s a COMPLIANCE ISSUE.

Anyone is allowed to maintain a part-time contract and continue their full-time job, barring of course it is not related to the financial industry. And we have a lot of agents who do just that. But, again… if we DIDN’T do that, how much worse would things be? “So, let me get this straight… you own and manager a financial office, although you teach school 35 hours a week?!”

AGAIN, I repeat, Primerica cares a great deal for compliance and its reputation. Of course PFS is not going to allow a part-time ownership of a OFFICE. This argument is raw stupidity.

9. As an RVP you are required to get an office … again I like having an office but some people do not want the overhead … why make them pay it?

*Verdict: True. Is it just me, or are these arguments getting stupider? Yes, ***… we’re going to make an RVP get an office. We’re NOT going to let an RVP work out of his basement. Again, how many other financial companies work outside an office?! Ever go to someone’s house to get a loan, or purchase an investment? Ever buy insurance out of the back of a car?! Pure, concentrated stupidity.

10. You can be “Rolled Back” which means lose the promotions that you have received and the commission levels at your RVPs discretion …. Not enough production, illness, or because your RVP wants to teach you a lesson.

*Verdict: True and False. Yes, you can lose a promotion or even lose your status as an agent with the company if you violate compliance, do something illegal, have a poor quality of business, or practice poor ethics. NO, you can’t be ‘rolled back’ just for the *** of it to get a laugh out of the guys at our home office. Again, all financial firms are set up that way… and none of them can demote you just because they’re having a bad day.

11. Some people do not like the risk of the market …. You can not sell a fixed / index annuities …. Most of you don’t know what that is … don’t worry I didn’t either when I was there … trust me your hurting some of your clients by not having access to it.

*Verdict: Fuzzy. This is almost like the cash value argument, but this one has a *little* more substance. I will allow a point to be made PFS could expand its marketable product line to include Fixed Annuities, but it’s a rare situation a client will need them… not so impossibly-rare as the if-the-stars-align situations that would warrant a need for cash value insurance, but still pretty rare.

So, yes, perhaps we could carry them for that .01% of our clients who would actually need them.

12. What happens when you have a recruit at your same commission level … you 2 are at the same level you get no override …. Doesn’t that make you want to keep people below you … not push them up…..Some companies will still reward you even when you are at the same level

*Verdict: True. While you will not receive a paycheck for the actual sale, it WILL count for all purposed towards bonuses, contests, and promotions. Secondly, I do NOT know of any company that will pay two agents at the same contract level for a single sales transaction. Many will, however, count that sale towards bonuses, contests, and promotions… JUST LIKE PFS.

13. A brand new person starts at 25% ……. They can do all the work (and you know as well as I do … getting a warm referral is most the work … so don’t tell me because you did a flip chart presentation you did most the work) and they only get 25% ….. the RVP get 95% …. So the RVP get 70% of something … they may not have been there for….. doesn’t sound fair … I thought Primerica did what was right “100% of the time”

*Verdict: True. Hmm… sounds a lot like ANY agent-broker system in North America to me. Why is it PFS is getting the ‘bad guy’ status on this one? Refer to point three of my opening argument. Take a look at ANY corporate job in America. Then, after you have these facts down, shut the *** up. Is it fair the owner of the place I formerly worked benefited from an entire staff trained by me, and all I got out of the deal was a $0.25 an hour raise? No. Wipe your tears and quit crying. As stated before, the RVP has overhead… the RVP has compliance responsibilities. I’m pretty sure they’re entitled to SOMETHING. But it seems the only people who *** and moan about how unfair capitalism is are the people on the bottom… be it PFS, or any job in America. I’m sure you’d *** a LOT less if you actually WERE the CEO of a major company, and you realize just how much stress goes with that job.

14. Let’s say Primerica goes out of business (don’t believe it … check out ENRON, Bear Stearns, and Citigroup…. And read the Wall Street Journal article I reference above) ….. your contract and license is with Primerica … what do you then? … because I already explained to you … YOU DON’T OWN IT

*Verdict: True. Hey, if you think the largest financial marketing organization in North America is going to go out of business… if you think the main marketing branch for the largest financial company on the planet is going to go out of business… if you think Citi, which is solely responsible for more six-figure earners than any other single company in North America is going to go out of business, you’re either too much of an *** or a pessimist I DON’T WANT YOU REPRESENTING MY COMPANY. Take a look at where you currently work… take a look at your company’s assets… where you currently work likely has a MUCH, MUCH greater chance of going under than Citi ever will… yet you work for them?

15. Do you like paying for POL, Call Atlanta, marketing material, leadership school, and training (hype sessions) …. Most companies give that stuff out free

*Verdict: True. In the future, however, I would put money on POL being free. As for right now, it is a substantial educational website and a massive business-tracking database, and with the ENTIRE INDUSTRY pushing towards paperless, it’s a big expense in a short period of time. Some companies offer these services for free; some companies charge hundreds of dollars a month. Sure, I’d love it if POL was free, but $25 a month… come on. That’s a single transaction of anything we market. It’s not a big deal. CallAtlanta is wrapped up into that cost.

Also, if you examine the RVP contract, which this poster claims to have done so well, you’ll note as part of the RVP full-time contract, it specifically FORBIDS monetarily profiting from ANY group function or event. This is a strict rule enforced by the Primerica, and RVPs who have turned a profit by conducting group events (it has happened in the past) have been TERMINATED for it. So don’t believe that the RVPs are making any form of profit from group events. They charge just enough to cover renting the building, and paying for plane tickets and hotel rooms for all the speakers… that’s it.

16. DO YOU LIKE CHARGEBACKS?????!!!!! …. Come on of all things I know you are tired of … we have to agree on chargebacks ….. for those that don’t know what a chargeback is: the agent turns in the paperwork to Primerica and is immediately paid …. But the policy is not issued which means if the client changes their mind, finds something cheaper, does not qualify, drags their feet on blood work, stops paying or for any reason does not get or continue the policy …. Primerica wants their money back ….. which means they take it out of the next check or the next one or the next one which means you are running up an escalator and YOU KNOW IT …. Sorry to give out the dirty little secret but you can not say you like the CHARGEBACK …. Again not all companies get those and NO company gives them out as much as Primerica

*Verdict: True and False. No company gives out as many chargebacks as PFS… of course, refer to point two in my opening argument. This line of work often requires extensive follow-up… most people lack the work ethic or responsibility needed for this. Case in point: A lot of people who shouldn’t be in PFS still write business, and their Quality of Business sucks.

I, personally, have only received one chargeback during my entire career. Sure, they suck… but it’s a LIE to say other companies will let you keep the money from a sale that backs out. NO FINANCIAL SALES position in North America will let you keep money from a canceled sale. None of them do that. That’s a great way for a company to lose money.

And if there IS such a business, then go work for them, and see how many canceled sales you can turn in each month. See how long that works out for you.

Chargebacks suck, but they are a part of EVERY sales position. A major reason we have so many in PFS is because we’re writing so much more business. And the skilled sales managers get very few of them.

17. Most people become disable before they die …. You can’t sell disability insurance or you will be fired … hurting your clients again

*Verdict: True. Again, bring up compliance issues like we’re some uniquely-cruel marketing Nazi. This is a COMPLIANCE ISSUE. ALL COMPANIES ARE LIKE THIS. You cannot sell insurance when you work as an investment-only broker, you cannot sell mortgages when you work as an insurance-only broker. You cannot sell them on a train. You cannot sell them on a plane.

This is NOT a PFS-only rule. This would be considered ‘Selling Away’ and it’s ILLEGAL. You can recommend a client to look into getting disability insurance, but you can make no specific recommendations.

18. What about health insurance … again .. try to sell it and you will be fired (by the way … does it make sense that you can be fired from your own business?)

*Verdict: True… and repetitive. Just read above… this is getting tiring. And, as previously noted, you don’t own your business until after you’ve held a successful office for five years for COMPLIANCE.

19. Critical care …. What if you client gets cancer … or do have insurance for that …. Nope …. Fired Again … By the way before you say it …. Most life insurance has accelerated death benefit …. So Primerica not special with that.

*Verdict: (yawn) Yeah. It’s True. It’s Compliance. If you wanted to work with an insurance-only company, you can do that… but then no investments or loans for you.

As a note, many companies only started to have the Accelerated Death Benefit rider AFTER PFS had had it on their policies for some time.

20. Make sure you check with Primerica before you do ANYTHING if they don’t like it they can terminate you (read your IBA) … sounds like a JOB to me .. I’d rather be independent…… the sad part is most don’t know you can be ….

*Verdict: True. But, again, just like with the RVP ‘roll-back’, you can’t be terminated ‘for the *** of it’. You MUST have committed an act that was either a compliance issue or an illegal activity… If it sounds like a job because the company’s going to terminate those that commit fraudulent, illegal, or non-compliant activities… then, I guess, yeah… you got us.

AGAIN, if we DIDN’T have those clauses… if we DIDN’T terminate those committing these activities… how responsible would we be as a company, and how much more would there be to complain about?

The case in point, being as forward and openly-honest that is in my ability, most of what this poster has said is complete ***. Much of it lacks logical reasoning, and much of his points are industry standards he has twisted to make it sound like PFS has some unique set of unreasonable rules.

I really expected more of a fight from this poster’s numbered list of arguments, but after a closer examination, it turns out a vast majority of his ‘arguments’ are completely void of intelligent thought and common reasoning.

Again, I’d urge you to do your own research… primarily from websites that carry higher credentials and are much more legitimate sources of information.

Look up dollar cost averaging, and see what the experts say. See what the experts say about Cash Value life insurance. And, moreover, don’t be so quick to forget just how monitored Primerica really is… from the mortgage industry, the insurance industry, and the investments industry.


I just signed the iba during the interview. I was told it was for a backround check. Was i mislead or lied to i would like to know...