Milwaukee, Wisconsin
2.2K views
17 comments

Ok. Opinions are opinions.

Everybody has them. There are pros and cons to every business and profession out there, BUT...come on people. Please do me a favor. If you're going to write a review on here have enough common courtesy to be grammatically correct, check your spelling, and write something that makes sense!!!!I've read 8 reviews and 6 of them were completely worthless.

Did they miss out on the first 3 to 4 years of schooling? Coming from a teacher....PLEASE check your work!!!!!!!!!!!! I was actually looking to find information on Primerica, good and bad.

Instead I found a mess and was left with the impression that the people who are complaining must not be very educated to even understand what they're complaining about.

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Anonymous
#717268

LAHRDM: KEEP ON WITH YOUR TRASH TALK, YOU ***.

WE GOT YOU HATERS LOCATED, AND FILED. EDUCATE

YOURSELF, FOOL !!!!!!! :upset

Anonymous
#357068

So these are my two cents on Primerica.

1.Primerica is by the standards of Pyramid schemes, a Pyramid scheme.

a. It is a pyramid scheme in that you are recruited and you will probably recruit your team and so forth and so forth.

b. Then your wage is completely commissioned base. You also get commission of your team's overall performance.

c. Primerica, although a MLM/Pyramid Scheme, is by no means illegitimate like the business in previous TV shows such as King of the Hill and married with Children. It does not require you to buy a product/supplies to "start your business."

2. Primerica is not a Scam

a. It is not a scam in that it takes your money away from you and does not give what was promised.

b. People can make tons of money.

c. "Insurance Class." you need to be certified. Do you expect them to pay for your class when you're welcome to come and go as you please? Do real estate agencies or even JP Morgan chase, pay for your Series 7 classes or CPA? The "Insurance Class" at Primerica prepares you for your test and pays for your test. IF you have your certification already, then you have no need for this service and should opt not to take it.

d. Primerica's business is doing your homework for you. They show you quotes of multiple companies (and if they do not they are using improper practices). If you're willing to shop around for insurance (this includes automobile, home, life) and create your financial plan for the next X amount of years, then you have no need for Primerica's services. If you can change your car breaks, you don't need to pay 129 dollars for coscto to do it either or 69 dollars to rotate your tires. (I personally do both myself) Point is if someone provides you a service, then you should pay for that service. Agreed?

3. Every company has bad eggs

a. That guy that called you in for an "interview" is a *** and he lied to you.

b. If that is what happened. Get his name/info, send this info to Primerica support/BBB, this many will not be allowed to use the name of Primerica very long.

c. The proper form of Primerica and the way it was intended is that you merely offer people an option.

d. Some people will cheat and lie. It's completely commissioned based and they will use cutthroat tactics the same as a car salesman, Sears employee, and especially real estate agents. *** of society are scums.

If a Primerica/World Financial group etc etc member approaches you, try to figure out if they're *** or not. I'm optimistic and feel most people are quite honest. Remember that guy trying to "recruit" you doesn't get commissioned if you join his team, only if you "make a sale." He will do his best to train you so you can make money, because it is within his best interest. Can't say the same for many companies you probably see as legitimate.

Anonymous
#357067

So these are my two cents on Primerica.

1.Primerica is by the standards of Pyramid schemes, a Pyramid scheme.

a. It is a pyramid scheme in that you are recruited and you will probably recruit your team and so forth and so forth.

b. Then your wage is completely commissioned base. You also get commission of your team's overall performance.

c. Primerica, although a MLM/Pyramid Scheme, is by no means illegitimate like the business in previous TV shows such as King of the Hill and married with Children. It does not require you to buy a product/supplies to "start your business."

2. Primerica is not a Scam

a. It is not a scam in that it takes your money away from you and does not give what was promised.

b. People can make tons of money.

c. "Insurance Class." you need to be certified. Do you expect them to pay for your class when you're welcome to come and go as you please? Do real estate agencies or even JP Morgan chase, pay for your Series 7 classes or CPA? The "Insurance Class" at Primerica prepares you for your test and pays for your test. IF you have your certification already, then you have no need for this service and should opt not to take it.

d. Primerica's business is doing your homework for you. They show you quotes of multiple companies (and if they do not they are using improper practices). If you're willing to shop around for insurance (this includes automobile, home, life) and create your financial plan for the next X amount of years, then you have no need for Primerica's services. If you can change your car breaks, you don't need to pay 129 dollars for coscto to do it either or 69 dollars to rotate your tires. (I personally do both myself) Point is if someone provides you a service, then you should pay for that service. Agreed?

3. Every company has bad eggs

a. That guy that called you in for an "interview" is a *** and he lied to you.

b. If that is what happened. Get his name/info, send this info to Primerica support/BBB, this many will not be allowed to use the name of Primerica very long.

c. The proper form of Primerica and the way it was intended is that you merely offer people an option.

d. Some people will cheat and lie. It's completely commissioned based and they will use cutthroat tactics the same as a car salesman, Sears employee, and especially real estate agents. *** of society are scums.

If a Primerica/World Financial group etc etc member approaches you, try to figure out if they're *** or not. I'm optimistic and feel most people are quite honest. Remember that guy trying to "recruit" you doesn't get commissioned if you join his team, only if you "make a sale." He will do his best to train you so you can make money, because it is within his best interest. Can't say the same for many companies you probably see as legitimate.

Anonymous
#48642

To get the same trial hours there is/was a difference in price between the companies.

Primerica Legal Protection; $25.00 a month...

Pre-Paid Legal standard Plan :$16.00 a month.

They both offered a free Will, Living Will, and durrable Power Of Attorney. Now the Primerica plan did add some features about helping with soc. sec. and death claime or something like that, but for the same $25.00 a month the client can get more trial hours if they bought a plan directly from Pre-Paid Legal..Bypass the middle man..Does PFS still teach that? Yes as the title says.."You need to be educated"

Not bashing just educating..

Anonymous
#1121151
@clarification

The truth is that the Primerica version of Legalshield provides for Probate of both spouses wills, upon their death, provided that both execute (notarized) the wills that were created by their local legalshield attorney.

- The standard legalshield plans provide Probate at a 25% discount.

With Primerica:

-The legal work(will, living will, etc.) is provided at no additional cost.

-The wills can be redone every year at no cost.

-In addition, it will provide 20 hrs of contested probate.

-The plan must be in force at time of death. Attorney's don't make much money doing wills... they get paid at Probate $350/hr...

for 6-12 months. - The plan works awesome, Probate doesn't cost your loved one's anything & it will get done ASAP, since their is no incentive to drag the process out.

Anonymous
#48636

It's not bashing, it's facts..PFS agents can double check the info. now for a tid bit about your legal plan. If I remember correctly it was basically the same for trial hours for the Pre-Paid Legal standard plan, which is about $16.00 a month. Well with the PLPP I think the cost was $25.00 with the same trial times. I think it was up to 60 hours of trial time the first year and I think 2.5 of pretrial time. Well the key here is if you consider $200.00 an hour for an Attorney the savings can be substantial..

Well for the $25.00 Expanded plan with Pre-Paid Legal directly the first year trial times are 75 hours and 17.5 can be used for pretrial. Thei can be verified by going to the Pre-Paid Legal site. www.prepaidlegal.com

Now tell me why the difference. As I said above it's ben a while since I looked at the PLPP so correct me if i'm wrong. Also guess what? If you left PFS and wanted to contract with PPL directly you have to wait 6 months and of course you are still under the PFS noncompete contract if enforced within your respective state.

Check it out. Something else you can do is contact a Pre-Paid legal representative and ask them for a commission schedule on the products they sell. That's what I did..Boy did I learn quite a bit..I did the same with Long term care..Kool-Aid,,Hey Kool-Aid.. Oh one more thing. In most states there's no licensing requirement to market with Pre-Paid Legal, so people could start doing business immediately..What do you do with people at Primerica who can't or don't want to take the required test? If your an independent agent you have someplace to put them..From what i heard at PFS is if agents didn't get life licensed within a certain time frame they had to go. Yet I could be wrong..

Anonymous
#48578

I'm sure you know the answers to these questions, but I would love to answer them for any Primerica rep or Primerica clients who might be reading this site. If you are on here & work for Primerica, have a Primerica Policy, or are considering a Primerica life policy read closely.

E&O Insurance

When I was with Primerica I asked a couple times about E&O and was told as long as you did an FNA with every client the company would take care of you. Hahaha... Yeah right.... I have never known a single person in Primerica to own E&O insurance.

What happens to a spouse if the other dies?

First off we were told in Primerica that other companies are ripping people off by forcing them to buy separate policies. Just another example of Primerica doing what's right 100% of the time. Here is there reasoning.

1) Saves the policy fee charge for another policy.

2) Allows the clients to bundle coverage to hit the higher banding zones to give them a lower premium.

Now for the truth.

Yes having 1 family policy will save you the $50 - $75 annual policy fee for the spouse. So that much is true, but here is the bad news. If the spouse dies (not the primary person insured, but the 2nd person or spouse) then the spouse must have a new policy written. Now they will not have to deal with medical approval, but it will based on the clients new age. Here is an example:

Mary & John buy a 30yr term policy when they are 35yrs old. John is Primary & Mary is the spouse. 15yrs later John dies in an accident. Mary gets the death benefit from Primerica, but now what to do with the life insurance? Primerica will allow Mary to get her own policy with out any medical questions or test, but it will be based on Mary's new age of 50yrs old. So the premium will be VERY high. Primerica reps will say "Mary doesn't need coverage because she just got a death claim" but that is BS. If Primerica was honest they would offer Mary the remainder of her term for the price she originally purchased, but they would never do that!!!

Mary & John would be better of buying separate policies!!

BTW - Primerica policy fee is $75 per year. All of the carriers I work with now range from $40 - $55 per year. So it is a minimal amount difference in policy fee... ALSO you will save 50% - 70% going with another carrier over Primerica in the beginning!! So who is ripping off who?

Secondly PFS reps love to talk about bundling. So they will save you a couple dollars combining policies. The fact is that Primerica prices are some of the most expensive insurance in the industry. Primerica reps try to scare you into telling you it is value not cost ("If cost was all that mattered we all would be driving Yugos!!). The truth is Primerica insurance is NOTHING special. It is only special in cost. If you want Walmart quality at Neiman Marcus prices, listen to the Primerica Rep and buy their products.

The truth is Primerica is out of touch. Nothing they sell is competitive. When it was just Cash Value vs Term they could compete, but in a world of Term vs Term they loose 100% of the time. Don't be fooled by the rep. They are not the only company selling 100% term. They FNA is not some priced product, it is a childish sales tool. Most Primerica have no clue what out there and just sell that their RVPs tell them is good.

I will say it over & over. Just shop around. If you are smart enough to do your research online you are smart enough to call and get insurance quotes. If you are looking at a mortgage do the same thing. (Ask for a 20yr Conventional Fixed loan). As for investment I have been very happy with T Rowe Price & Charles Swab. Your Primerica rep is not a Financial Expert. He/She is an expert at selling products that benefit Primerica.

Just do your homework & you will be surprise what mess you just avoided.

Anonymous
#595104
@Finally Free

Everything written above is wrong. A very misinformed person.

I did my research as suggested, and found his letter to be false. Be careful listening to people like this.

Anonymous
#847032
@Finally Free

You sound like you really know what you're talking about. I was thinking of joining Primerica to get my licenses and possibly switching to another company if I felt that it wasn't the right fit for me. Any advice?

Anonymous
#48553

I once heard one if his tapes and he said" That policy is right for himmmm..He's a dad gum dude, right? All I want to do is give you more value for your money, right?"

If he kenw anything about term conversions, he would know they arn't required and in many case the whole face amount doesn't have to be converted. Now if his wife is going around saying you are being investigated for fraud to some extent, she needs to be set straight.

Now for the RVP. God forbid nothing happens to the rep. becasue if he died, I would think his wife may have a case against the RVP or at least his E/O..Wait do PFS agents carry E/O??

Which brings up another question..When one spouse dies what are the other options of the surviving spouse considering they are both on one policy. Same with divorce. How are the policies unbundled? Enquiring minds want to know.

Anonymous
#48543

That reminds me of a conversation I had with a PFS rep a couple months ago at the gym.

He was a rep from my baseshop, but a rep from another RVP. He was telling me how tight he was for money and how he was barely making ends meet. (He is a substitute teacher & his wife is a cashier at a department store). After a couple times at the gym he finally asked me why I left PFS. I explained my reasoning and what I had learned. The next day I saw him again and he had a piece of paper with all of his life insurance information on it. I can't remember the exact numbers, but it was something like this:

30yr Term

$200k on him

$ 75k on his wife

$ 25k on the children

Spending approximately $103 per month.

He wanted me to see what options I could do for them to save some money. I came up with 2 options. (Both 30yr term)

1. Keep the coverage the same. Cost of the insurance dropped to $57 per month.

2. Increase coverage to $300k on him, $300k on her, & keep put $10k as a child rider. Cost was $86 per month.

In both cases the client saved money. He asked me to come over the following night and do that paperwork. The next day he calls and tells me to forget about it. His RVP told him that I would force him to convert to cash value down the road or even worse the company would not pay the death claim.

Here is a guy that is desperate to save every penny, but is brainwashed by his RVP telling him Primerica is the only company who does what is right. SCARY!!!

Now the guy totally avoids me at the gym. My wife overheard his wife at the gym last week telling another lady I was being investigated for fraud & I got terminated from Primerica.

It is SCARY how brainwashed Primerica people can be. I always heard people telling me it was a cult like company when I was in Primerica, but I thought they were crazy. Now that I opened my eyes I am shocked how *** I was. I owned Primerica Ins for 12 yrs & even did a $MART loan on my house.

If you are considering Primerica just shop around and compare. You will be shocked what you will save!!!

Anonymous
#48536

Just as you show the difference in coverage for the price, there are PFS agents who are so loyal to the company they short change their own family. God forbid if there is a death claim what benefit will there be for being a loyal PFS rep by purchasing a policy for themself to cover their own life?

That's taking in the consideration of the company beyond a spouse or child. Yes it deep when you think about it..

Anonymous
#48520

Amen!!

I replaced my mother-n-laws PFS 20yr Term of $200k with Genworth 20yr Term (5 yrs later) with $425k for $7 more per month than her Primerica policy.

If we would have known 5 yrs ago she could have gotten over $500k for $13 less per month!!

I love people defending Primerica, I know I did for 12 yrs, but once you know the truth you have only a crook would sell Primerica insurance.

Anonymous
#48515

"If a client can get the same amount of coverage for 1/2 the price doesn't it make sense to do that?"

More importantly, if the client was paying the same premium to another company, the death benefit may be hundreds of thousands more. When people realize they're shorting their beneficiaries by this much, they really want to get away from Primerica.

Anonymous
#48494

megs72706,

I am glad you are happy with Primerica, but you if you are focusing on "Middle Income" Americans then shouldn't we be focusing on helping them save the most money?

Debt Stacking is a great tool & in all honesty debt stacking is better than the $MART loan for most clients.

Life Insurance - If a client can get the same amount of coverage for 1/2 the price doesn't it make sense to do that? Primerica insurance is a rip off. PERIOD. I have never found a Primerica policy that could not be beat. The only cases that could not be replaced were cases where the client became uninsurable.

As for positive reviews I used those for many years. One of my favorite credibility pieces was the Success from Home magazine. I was so proud of it and showed it to everyone. One day I felt like a fool when I found out that Success Magazine is available to any company who wants to buy the magazine for the month. Primerica was the first to buy it and the home office sold the mags by the truck load. We passed them out to every body we could. Now I know Monavie, Herbal Life, Genewise, and every other MLM has done it. What a joke.

The truth about Primerica is this:

Life Insurance is too expensive and if shopped around you can get the same coverage for a fraction of the cost.

Mortgages ($MART) is a joke. It is littered with fees. You can easily beat the $MART loan with a 20yr conventional loan.

FNA - Is not a financial plan, which is written on the first page of the FNA disclosures. The FNA is a SALES TOOL only. If someone is telling you it is a financial "game" plan, they are lying.

megs72706
#48486

Primerica is a great company who helps a lot of middle class families to get out of debt faster, and also help people manage their money in a better way by showing them something that is called "debt stacking". It is a great company.

it is with any company that you will find not only good reviews, but also some not so good reviews. It is up to you to decide what is good for you.

Anonymous
#48481

If you are looking for information about Primerica there are some great resources on this site. You are better of asking a question and letting the people who have the experience with Primerica answer your questions.

If you are considering becoming a Primerica client all I suggest you do is shop around. If it is life insurance you should get quotes from a few other companies (Banner, Genworth, ING, etc..). You will be shocked how expensive Primerica life insurance is. Don't let a PFS rep convince you everyone except Primerica is evil. The truth is you can get the same term coverage from the companies I mentioned above for a fraction of the cost. If you are interested in a Mortgage shop around for a 20yr Conventional loan to compete with the $MART loan. It will be cheaper annual, it will be cheaper in fees, and it will not have a ridiculous Prepayment Penalty.

If you are interested in working with Primerica I would suggest you look carefully at everything. Also understand you will be soliciting these expensive products to family & friends. Once I stepped away from Primerica and compared apples to apples I realized I had taken people's hard earned money to buy products that they could have bought much cheaper with other carriers and lenders. The problem with Primerica is that we tell the reps & clients that we do what's right 100% of the time, the problem is you will do what is right for Primerica & your RVP 100% of the time!

My advice is to shop around and look at all of your options.