I ran across a blog that did a series examining Primerica Financial Services, a multi-level marketing company that purports to sell financial products. While the company does offer life insurance, investments, and other financial products, like a typical MLM… they’re really out there selling the opportunity. The name of the game is endless recruiting.
The Financial Blogger did several nice posts about the company, but this explanation of the pyramid scheme aspect of Primerica was exceptional:
Is it a pyramidal scheme? In legal terms, the answer is no. However, it does not mean that because it is legal that the company’ structure is not shape like a pyramid. Everybody is making a cut on the people below them; it goes up to four level. I think this is clear that the guy on the top makes the big bucks. They will answer that every company is like that as the President and the VP’s are in the driver’ seat and the other employees are left with nothing. It is right also.
However, they do not explain why they are able to give a commission to four people for the same sale. The answer is pretty easy: they have to cut down the commission compared to the regular industry. As an example, if a life insurance of 100K would provide another agent with $1,500 in commission, a Primerica advisor at the lowest level will earn $900, then his recruiter will receive $300, the recruiter’s recruiter will get $200 and finally the guy who put all of them together will earn $100.
So for those who are in to sell, Primerica is definitely not the right place to be. “Yeah, but you could build a team and create your own business”, I guess they forgot that the best sellers on earth are not necessarily interested in building a team compared to earning the big bucks right away. The main problem I see with this approach is that you have to convince individual to work hard for less that they could earn only because they have the option of building a team a earn extra commission on somebody else’s work. In fact, if everybody concentrates on recruiting individuals, who will make the sales? You may have a hundred people below you, if nobody sales, it still makes 0$ in your pocket.
Check out the blogger’s whole series on Primerica.
19 May 08 at 3:06 pm
I would like to offer a rebuttal to the previous post(s).
When you are approached about an organization that you suspect might be a pyramid scheme or MLM scam, utilize websites such as MLM watch or Quackwatch and see what others are saying. Ask critical questions like - Does the money I would be earning come from the sale of the products/services or from getting recruits? Would I be required to purchase *pricey* training materials or company products? Would I be expected (pressured) to attend events where an admission fee is charged? If yes, that could indicate the money is generated by recruiting or those “training” materials or workshops, and not from the products and services. I asked myself these questions prior to making the decision to join Primerica and i’m glad I signed up because my experience has been very positive.
Primerica is in the business of financial education and debt elimination, aimed at the under-served middle income market. An individual can make a decent supplementary income, even on a part-time basis, without recruiting anyone. And the clients are often in dire need of the products and services we (licensed agents) are educating them about.
Going with the aforementioned life insurance example, those commissions are possible because that is a one-time payment based on the annual premium of that policy. If a person “recruits’ you into Primerica, they are instrumental in your training and development, so yes, they do have a vested interest in your success. There is no bonus or pay incentive to sign people up that won’t invest the time and energy it takes to get licensed/ trained (AND most, if not all, fees associated with obtaining the license of your state are reimbursable) so the “name of the game” is not endless recruiting.
If one has an entrepreneurial mindset and wants to build a team and run an office - that is an option as well.
19 May 08 at 3:13 pm
Primerica is not in the business of financial education. It’s in the business of recruiting.
The under-served middle income market is far better off doing business with a real insurance agency or a real mortgage broker. The products Primerica sells are overpriced, and their main goal is recruiting you!
It is next to impossible to make a real living in MLM schemes like Primerica without recruiting. Why? Because the full commission you’d be paid if you worked for a REAL insurance agency is instead split among many levels of the Primerica pyramid. You make less so the rest of the pyramid can make more.
If you want to sell financial products, stay away from the MLMs. You can do much better elsewhere.
01 Jun 08 at 9:29 am
PRIMERICA MILICO CITIGROUP A.L.WILLIAMS PAY ME WHAT THOU OWEST Bonnie Doorman, RVP, AL Williams, whom I had met previously when she was marketing Huff Cook, talked to me about a company that “offered a great opportunity through life insurance sales and asset repositioning”. Further, I could work part time and keep my present employ if I desired. Enthused, I worked over 80 hours/week; put in time with the company. Then, within 90 days, Bonnie Dorman, RVP, demanded I surrender my Bureau of Insurance license because I didn’t meet quotas!! THAT’S RAPE!! Deceit in light of the above. It’s their sin; they can’t demand the license because it is false pretenses. It is a fraud. I worked for it; I studied for it. Why should it only be an SCC license that can only be used to sell AL Williams - Primerica products? It is a fraud; a sham. I had the same examination. I had to study just as hard as my competition to receive my license to sell life insurance.
Bonnie Dorman, rVp said you only have to work part-time and can make a lot of money. They lied; they smeared other firms that have protected territories. One needs a protected territory. I would have easily sold 4-12 replacement policies but no protected territory. So another rep had already sold. So you can see from the above I’m still waiting for a fair remuneration for what I would have sold and Art Williams - Primerica can pay me for the time I put in. They haven’t given me anything yet, therefore, there has to be a penalty for what they did in order to discourage further rapes. I wasted a total of 7 months going to the meetings, the class, studying and scouring the supposedly limitless field of “every person you meet is a sale”.
In addition, old AL Williams reps they find me every few years. A quote that I can very well relate to: “I was never told how my name was referred to them”. They say they are headhunters. They are leeches; steal your leads; find your family and friends and attempt to rape you again. They’re just looking for whom they consider to be suckers. I always have to tell them I am still waitng for my money. Not only has ALWilliams not made restitution; he has made an offer of stock in an effort to take away the injury done to me. No remorse, no offer to pay for the expenses to get my life insurance license back that was stolen - nothing AL Williams-Citigroup-Primerica lies and lies and lies. Here is what I found out while I was slaving for A L Williams:
- 80 fee to go to their seminars!! The RVP’s told us it was a great deal!! All the other life insurance companies give their training for no charge AND they pay for your accommodations.
- I started finding insurance policies that were cheaper! A L Williams RVP’s told me I was selling the cheapest. Really began to be disturbed over that.
One of the reasons Bonnie Dorman was able to talk me in to the business was the “fact” that A.L. Williams policies were the cheapest and the riders made them cheaper yet.
- No reimbursement for my travel expenses.
- A sales rep is a rag that they can throw out! They tell you you are going to be wallowing in moola! The RVPs don’t help you; I never, ever was introduced to a RSD or SRSD and they throw you away so they can exploit another one and steal his/her leads!!!
- I started hearing “that person’s not even a potential client”. When Bonnie Dorman talked me in to getting in to the business, every one was a potential sale. “Just start a list”.
- I began running in to people who wanted to buy from me but they had already bought from another guy who didn’t even work in the same state that I was working in. My eyes finally began to open and it began to sink in that an agent needs a protected territory.
- You know it is so: when you go in to business, you don’t recruit other businesses. You stay right there and build your business up wherever you are. You get the help you need. If you start a branch business, or a separate enterprise, you get the help you need. You don’t tell them to pyramid on, for those new recruits to pyramid on, and on until you have exceed the entire population of the world!! Those RVPs and SRVPs know that. Those recruits are customers!
AL Williams-Citigroup-Primerica still owe innumerable commissions plus interest and penalty because they stole my license after 3 months. They never
forced Bonnie Dorman to admit she was wrong and to return my license to sell. That license was only good to sell MILICO products. That’s a conspiracy in restraint of trade!! The license granted by the govt body was good for 2 years. AL Williams deliberately made up the 90 days and I had to pay my expenses on top of it to pass the exam and get my license! What a fleecing!
AL Williams takes away your license without any remorse! It caused me impoverishment and upwards of 99.5% of the other PFS reps wind up impoverished because of the abomination. It is nothing but multi-level marketing. Only those at the top make money: those at the bottom give their time and energy to those at the top. And they charged me for the classes. And I had to pay everything out of my pocket. Neither Bonnie Dorman nor any of other RVP’s, District or Regional Leaders told me that all the other life insurance cos give you training out of their own pocket. They help their reps. It took over a year for me to recover from all the uncompensated work time and expenditures.
http://nextaxpro.spaces.live.com/
All right. A fair restitution:
1. You can’t get around base pay. If you supposedly are going to make this fortune selling “buy term and invest the difference in mutual funds”, “the 72 rule”, etc, they have no problem giving at least $500/week so you can survive; more in high cost of living areas. That’s not unreasonable. As aforementioned,
if the reps did well on the Bureau of insurance examination, and I scored 87 out of 95 total, that’s not unreasonable. They recruited us and told us we were would swimming in dough working part-time!!
2. Honest disclosure about the commission structure. We’re still trying to find out what it truly is!! Art Williams got around one lawsuit because Alabama {then} had only a one year Statute of Limitations for plaintiff action.
3. Fair remuneration for selling the policy. Primerica can’t pound and pound that ludicrous “higher cost first year, lower later” because the reps don’t get paid commission in subsequent years. That’s laughing in the agent’s face! That’s an admission that they treat their reps very badly. AL Williams- Citigroup - Primerica owes me for the renewals.
4. I put seven months of my time in to that scheme, overall. Should I hold my breath that Primerica will pay me fair remuneration for all the mental stress and impoverishment that multi-level marketing causes? Paying compensatory damages to me is not unreasonable, especially since there should be penalty as AL Williams never paid me a dollar. With no disclosure of the commission structure, how do I know I was actually paid an agreed upon stipend?
5. Fair reimbursement plus interest for my travel expenses to take the course. That’s not unreasonable. I obtained the license required by the state governmental body and passed their test with a high grade. Reimbursement for my travel expenses to obtain the license and stay at a motel. That’s not unreasonable. AL Williams, Inc, forced me to give up the license that I earned! No argument of sincerity can be made by AL WIlliams, Bonnie Dorman or any of the RVP’s. They want those leads and will be very swift to steal them from you. When you franchise a store, if you’re smart, you check the contract for a fair evaluation of what the franchisor contributed to the good will and growth of the business. AL Williams staff and lawyers knew and Primerica knows about clauses like that. I was so young and am really surprised at the number of potential clients I visited and the enthusiasm I had and how I helped the image of that company. I was rewarded with termination and theft of my time. That’s theft of services! That’s theft of promised commissions!! I gave them my time. AL Williams and his people are thieves! Never again will it be done to me.
6. A fair evaluation and restitution for sales missed when forced to surrender the license I had studied for and earned. That means they owe me for the
bonuses I would have made as well as the sales I lost, not only in the valid period of the license, but in subsequent periods; volume build up; more sales, bonuses, etc! After 7 months with absolute minimal income, I was impoverished and forced to take job so I could get back on my feet. Multi-
level marketing impoverishes workers! Hundreds of thousands of others have been raped, also, worldwide.
7. The theft by AL Williams means lack of credentials for the next insurance place. The sin of A L Williams. Once again, you must have a protected territory. Reimbursement for travel expenses; fair restitution for my time to unnecessarily have to restudy for the examination. Boy, does AL Wiliams-Primerica-Citigroup screw people!! Taking away your license when no laws nor ethics were broken by the agent is an abomination!!! Art Williams, Bonnie
Dorman, Primerica-Citigroup who bought them out [hence bought their debts] and the rest of them should be thankful I’m not asking for compensatory and punitive damage awards! Boy, do they fleece you! A lot of time and energy for what? To be used and thrown away so they can get your leads!! Aha!! Know you know why AL Williams and all the RVP’s ordered you NOT to make the sale on the first visit! Why? After 3 months, they will steal their license to sell, which is not even rightfully theirs!!! I studied for the test, put out by the state regulator, not by AL Williams; not by MILICO; not by Primerica: not by Citigroup. What a corrupt outfit! You can’t even recover unless you take the courses; then the examination all over again!!
They owe for the mental stress!! Those sales District and Regional Leaders really have their nerve in demanding that you surrender the license when you have committed no legal, propriety, moral nor ethics violations.
8. License was good for 2 years. Out and out fraud and nefarious extortion to only allow a license to sell insurance and securities through AL Williams!! That really takes nerve. whom do they think they are? God Almighty? The intent is to issue a license to sell life insurance and securities for yourself or for any firm. To limit to AL Williams is tantamount to threats, lies, deception, unfair restraint of trade and extortion. AL Williams violated the Sherman anti-trust Act without even telling us!!! Has Primerica turned from such reprobate shenanagans? Citigroup-Primerica must agree to pay for the remaining 21 months of lost revenue as a result of the illegal seizure of the license to sell life insurance. That’s generous: AL Williams does not have to pay punitive damages and AL Williams doesn’t have to pay compensatory damages for a minimum of 7 years.
What?! Ripoff Report states this? To the editors of Ripoff Report: Primerica is willing to make amends? They bought AL Williams, stock symbol ALW. When you buy an outfit, you buy the debts. Let’s see proof. A.L. Williams “headhunters” know I worked there, even if Bonnie Dorman were to attempt to deny it. “Not everyone is a sales person {they recruited you, hence you are} - not every one is made for every business and your success depends entirely on the effort you put into it, but, the investment involved is very minimal in light of the training and licensing that it pays for - all this talk about $199
being a rip-off. I guess people are wondering ‘why do I have to pay to start a job? ‘ But Primerica isn’t a JOB, You’re starting a business; {you’re starting a business when you go to work for all the others and the company pays -consult the Rock} how many other businesses can you start for less than $200 {unlimited, esp now. It’s called the internet}? Life insurance pre-licensing education is provided at no additional cost to you.” {ha ha ha ha ha ha ha ha ha. Primerica lied to you!!! Documented by other threads, also. We are NOT bearing false witness. That leads one to question the whole scope of the investigation put out by the staff of Ripoff Report. How deep was the investigation? I’ve spoken with thousands of life insurance agents, including former AL Williams agents, and they all know that AL Williams charged $80 for the pre-licensing seminar. No additional costs? Even then, it was more than $200 as I have documented.
A.L.Williams recruiters wanted me to buy a policy! What!! When I go to work for a company, I get their product for free or at employee discount rates. When I go to work for an insurance company, I get the policy for free. Buy an overpriced policy to help National Sales Directors and Senior National Sales Directors. What deception! What dishonesty!
Ripoff Report said “recruit” in their ” Rip-off Report Investigation: Primerica`. “It should be noted that as an independent contractor, the compensation of a Primerica agent consists of commissions and bonuses earned upon the sale of a product, either directly or by an override commission GENERATED BY OTHER AGENTS {emphasis mine} recruited into his or her ‘hierarchy’. ”
Not my words, his. Some have not seen through multi-level marketing. “But you should know, that your results are going to equal to your efforts.”
That is NOT so in multi-level marketing, even in a local economy on the upswing. Here is the best explanation I have seen to date. There are probably less wordy ones, but this is worthy of very careful, thorough study. Primerica IS IS IS a mutli-level marketing company.
http://www.frauddiscovery.net/Herbalife/WallStreetFooled.pdf
It’s the same A.L. Williams hash refrigerated and microwaved up: “Primerica was been and is under investigation by the SEC, FTC and numerous other governmental bodies.
Listing of investigations and litigations can be found SEC’s and other sites –>
http://www.sec.gov/cgi-bin/txt-srch-sec?text=Primerica&mode=&start=&count=§ion=Litigation&sort=rank
If you just do a goggle or Yahoo search on ‘Primerica fraud’ you will get hundreds of hits explaining lawsuits, Primerica’s deceptive tactics and
testimonials of people defrauded. Most concerning of all though is that members of Primerica during company’s presentations and speeches yell out ‘Amen’ and ‘Hallelujah’ (my husband admitted hearing this too) and insist upon Primerica being a ‘Christian’ organization.” {an agent with AL Williams told me that many reps are pastors. It’s easy to believe you need “supplemental income” when you were not called and are not trusting the LORD for your support - consult the Rock}.
Think Primerica is sincere? Before publishing “Rip-off Report Investigation: Primerica pledges to resolve complaints & address any inquiries from the past, present and in the future. Commitment to Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program. Primerica commitment to customer & agent satisfaction. After interviewing executives from Primerica, it is clear that they are dedicated to helping their agents and clients achieve complete satisfaction and will not allow a legitimate complaint to go unresolved”, Ripoff Report has to acknowledge that You can’t get around base pay and that the average commissions for a Primerica agent is 2000 and it goes in to a DEFICIT if only 1.5% of the RVPs, RVPs and SRVPs make 7 figure commissions and overrides { and possible kickbacks from chargebacks on their reps!!}. If it’s not multi-level marketing, why no base? Any company that pays only sales commissions without binding promises of preferred stock, stock, warrants - some future reward for work performed - is a slave master. An honest day’s pay for an honest day’s work. Be up front. Bill Gates was. He asked the workers to accept shares of stock. Those who did not want his promises could walk away. Primerica pressures you to stay with threats of no refund of your 199 and the usury regarding the loans. Bill Gates backed up his promises. He did not vomit empty, lying promises of riches. He backed
his promises up. That’s what A L Williams needed to do and did not. That’s what Primerica needs to do and has not, to date.
9. Confession by Primerica if they did the same that Art Williams did to those who spent money, time and energy to obtain their brokers license. Does Primerica refund your $199? May be sometimes, but then again, Primerica will at times say that you have a “chargeback”. Primerica “loans” you money, whether you want a loan or not! Chargebacks is really deceitful. AL Williams only allowed their agent to receive a commission for one year, and the client pays a year in advance. In what circumstance could there be a chargeback??
In other words, if the SRVP and RVP do not get their slice off of the agent - even after he is gone {!!!!!!} - they want to still make you pay!!! And to make sure you DO pay, they “loan” you “insurance money” in the event of a chargeback!! Nifty, isn’t it? Total evil. Tell it like it really is. Be sure your sin will find you out.
It’ll find you out. It’s found a lot of multi-level marketers of swampland out. And their sin will find the rest of those boiler room shysters out. In fairness to ripoffreport, even stock, mutual fund analysts and institutionals do not know the inevitable law of rapidly diminishing returns involved in multi-level
marketing. We will just ask Ripoff Report to read and pore over this daily for a month, then at least once a week for the next year. It is extremely important. Revealing information, even great revealing information, becomes dated. More, better explained exposes will come. Keep your eyes open. Ever alert, never hurt:
To pay for a background report made me laugh myself sick. They want suckers, even hardened criminals, so long as they don’t do their mischief selling for Primerica! Anybody can get on as an “independent con”! What’s the background investigation for?! What if I had bought the policy? Would I have gotten my money back?? I once heard that that A.L. Williams went to jail on fraud charges. Why is it that you can obtain no info on this on the internet? Supposedly AL Williams is an open book. Fine. Tell us precisely what you were doing beginning around 1963 and what you’ve been doing all along. A Primerica MLM becomes so brainwashed, he never questions anything. Art L. Williams never came to see any rep and he never called for meetings. He can afford to pay the expenses.
http://www.frauddiscovery.net/Herbalife/WallStreetFooled.pdf
http://nextaxpro.spaces.live.com/
05 Jun 08 at 6:58 pm
i recently joined primerica but wondering if what they say is true and also yeah is true i been in six family homes and not sold nothing and all that time in training and gas that is coming from my pocket someone write back
16 Jun 08 at 9:44 am
A bargain…
Part of what they say is true. Yes, if your “customers” are disciplined enough over 30 years they can invest money in a mediocre account managed by Citigroup paid employees and be covered with term insurance. You initially will make a few hundred dollars which is like the bone thrown at a dog salivating.
However, you will have paid through the nose for licensing, gas, meals, and trips to various “trainings” which will eventually leave you with more questions than answers. Once your sphere of influence has been tapped you will be forced to cold calling with a host of slights, techniques and hours of hang ups. Very rarely does a RVP or upline give out sources. Even when they do it is a few here and there to earn your trust to get to your sphere of influence. I made $100 in the heat of the moment coming up with 100 names of people I knew that was faxed to a Senior person in Florida (former baseball player.) Don’t put any personal contact information in the FNA computer. They also scam by taking that list. Really look at the people and where they live. There was a soon to be RVP in Mark Williams office that lived in a run down apartment. Clearly she wasn’t making the money claimed (or in the way.) Be aware of people calling back and being stolen out from under you as a guise to help out your upline. That was a real experience as well.
My husband worked with a sweet gal that introduced us to the RVP of the upline she submitted… er, sucombed to. She knew a lot of information about our family life which she told to this guy so he could better field our questions and make comments that fit our personality profiling. In fact, we once went to a seminar training called STAR which totally was about profiling customers to make sales. (Do you still believe in the idealism of helping others?)
Well, we eventually changed over the term life to a cheaper institution when we dumped out of Primerica. We sold our home to pay off the second mortgage financed through them. We ate about $8,000 in expenses, fees and trying to prove we were worth the attention of the RVP or whomever willing to help us make sales and “build” our “business.” I paid for daycare so I would go to the office to learn from these people… all I ever learned was that they BS a lot and hand you an alumni book to create sales. Don’t be surprised if they guilt you into using your contacts as a test of trusting them.
I think what people don’t talk about is the level of depression and humiliation left after these people have raped your dignity. Everyone eventually learns this is too good to be true somewhere down the line. It can happen right away or take 6 months or even a year depending on how emotionally attached you get to the “personal improvement” program.
Your reputation is tainted with family and friends depending on how aggressive and unprofessional the upline is with “training.”
Our friend lost her home and even her relationship over Primerica. The house of cards is often stacked on building a business and as it doesn’t pan out people find themselves in a jam with all the refinancing. I experienced serious problems with lacking care in budgeting and helping people live within their means. I experienced people being told you have to come work with us there is no way out … only later to realize how horribly worse off they were going to be.
You need to look clearly. We went to a picnic of a Senior position in the Cleveland area. I couldn’t understand why the inside of the house had 1970’s decor including a wall radio. It’s because they inflate the numbers on how they exaggerate “income.” It’s usually over a period of time, based on gross sales without chargebacks or business expenses. Even the RVP’s home, car and family circumstances caused me to realize… I was being scammed by him.
It’s a strange little world where a guy with 3 daughters who “loves god” and goes to church does such horrible things. But that is the false sense of security that just because someone says prayers, quotes the bible and attends a church means… what? They are not corrupt?
Citigroup is corrupt as many in corporate America. IT’s a fact of life. IF you don’t have personal integrity or a conscience and are desperate to rape people without knowledge of what you are doing or don’t care then you can make it with a lot of intense hard work. But you better have a great reputation and be able to sell out those around you and their “circle of influence.” Remember, you are not in it to make friends but to make money. And the only way to become affluent is to screw a whole lot of people fast before they know it and move on.
Thick as thieves many of them are. You don’t have to feel bad for being gullible in a weakened or hopeful state. You can learn and be stronger in the end for all the manipulation they put you through and cost you. After all, you will learn about yourself, your character and if winning is more important than doing the right thing.
Trisha
02 Aug 08 at 8:37 am
Just a quick note: These are all very sad stories. I attended one of the Primerica recruitment classes in 2004 hosted by Luke Lorenz in State College, PA. He tried to be convincing, but it was clear within minutes that it was a “multi-level marketing” pyramid (legal, but still a non-sustaining plan for business that hurts a great many participants–investors and the poor new employees who work on commission and don’t enjoy a living wage). I mentioned to Luke that that’s what was going on, and he pretended to be oblivious to that fact. Or was he really that stupid? I don’t know. Best to steer clear of Primerica altogether (investors and potential “employees.”)
14 Aug 08 at 5:02 am
It’s a pyramid scheme. It cannot be any different. It’s etched in stone and cannot be changed. It is rock-ribbed, incontrovertible fact. Name one person who hasn’t heard of Amway. Very soon, it will be the same way for Primerica, herbalife, Malaleuca, For U, Market America, EVEN IF THEY CHANGE THEIR NAMES. If you start at one as the first step, after ONLY THIRTEEN (13) STEPS you will have more than the entire populaiton of the planet if one recruits six, those six recruit, six, those 36 recruit six, on to the thirteenth plateau, BELIEVE IT OR NOT. That’s why AL Williams - Primerica employees cannot recruit anyone, nor make any sales. Their family and friends avoid them. Multi-level marketing { actually pyramids, face it} nefarious boiler room operations need to be forced to make monetary restituiton as well as mental stress, emotional isolation and humiliation restitution. The bill AL Williams- Primerca owes would stagger you. The human mind cannot take such an enormous figure in.
The proof is in the puddin’, as the wise old saying goes. “Deborah” typed a “rebuttal” FIRST, BEFORE any one posted on the pyramid, cheating, fraudstar, illegal Primerica. What are you frightened of, Deborah? Hmmm? Put your money where you mouth is and make restitution for those whom have never restituted their victims. Restitute first, post later.
Try starting a Primerica in China. It won’t be allowed, and you know it’s so. Amway cannot do any recruiting, i.e pyramiding. If they do, China will run that sicko scamster outfit out. It’s time those responsible are tried and hanged. I say that because pyramiding is allowed in the United States. Those taking bribes; those responsible for government regulators not taking down Primerica, Market America, etc, are to tried, convicted and forced to make restitution to the victims. I, as well as over TWO BILLION victims all over the world, await our fair and just restitution.
http://360.yahoo.com/mgtenter95
http://nextaxpro.spaces.live.com
20 Aug 08 at 11:46 pm
How lucky am I to come across this websit! And to think, I have an interview with them tomorrow. So blessed to be able to look up the potential companies
that want to employ me. I thank you, you all have been a great help.
21 Aug 08 at 10:22 am
So I, like many recent grads, am on the job search- have been for 4 months now. Out of the blue, James Panos, a higher up w/ primerica, contacts me about a potential job offer.
I went there two days later and listened to him talk and talk about making tons of money, about having an effortless future, etc. I thought it was all a bunch of shit from the very beginning.
I knew this was so the second he said “Ted, you would be perfect for this job. I’m not trying to MANUFACTURE THIS CONVERSATION or anything, but you have the ability to talk to people….” He must have said manufacturing the conversation 15 times within an hour.
How dumb do you think I am? You are indeed manufacturing a conversation, lying to my face and wanting to rape me. Why should I pay 100$ so you can do a background check? What kind of company finds people out of the blue- without applying, etc….??
Stay away!
21 Aug 08 at 2:46 pm
It’s great to know this information before my meeting next week…..I can’t wait to bust these crooks in front of everyone else there. YIPPEEEE
22 Aug 08 at 2:37 pm
Can you say paranoia?
17 Sep 08 at 3:42 pm
I Like Them. All you non-believers can continue working in the corporate world and we see how great thats doing.
20 Sep 08 at 9:45 pm
i myself like the company i have learned alot about money and can say i will be debat free in 5 months any other company with charged you an arm and a leg for them to teach you about money. you all that hate the company, you just did not work at it as you have to at any other dum job you all have.
30 Sep 08 at 6:48 pm
WOW!,and I had an interview set up for tomorrow; I guess I have to call and “cancel”. I’m glad I did my homework!!! Thnx.
30 Sep 08 at 7:54 pm
Wow.. its very funny to hear what people say about Primerica.
1. Why do companies have job fairs? to recruit, right.
2. Why are there so many ARM loans that are about to get forclosed? mmmmmm someone mislead someone and it wasnt Primerica.
3. Lets see. Every Corporation has a CEO, who makes all the money. and people under them, who dont make as much. Am I right or wrong?
4. PRIMERICA IS NOT A JOB. PLEASE UNDERSTAND THAT. IT IS WHAT YOU MAKE IT. NOT A JOB.
Primerica’s life insurance underwriter Primerica Life Insurance Company and its New York subsidiary National Benefit Life are rated A+ as “Superior” by A. M. Best as of May 2008.[20] Standard & Poor’s has the company rated AA as “Very Strong.”[21] The Insurance Marketplace Standards Association, a non-profit organization based out of Bethesda, MD with the intent to create ethical standards for the insurance industry, has renewed qualification for Primerica Life and National Benefit Life for high standards and quality business, “continuing dedication to ethical business practices.”[22]
In 2007, Primerica received its fourth Dalbar Service Award from Dalbar, Inc., a client service rating organization focused on raising the standards of customer satisfaction and quality in the financial services industry, for Primerica’s excellent customer service in mutual funds.[23]
Bruce Sankin, an investment counselor, consumer advocate, and columnist,[24] wrote in his 2005 book What All Stock & Mutual Fund Investors Should Know! of the Financial Needs Analysis that Primerica provides to its customers:
A good financial analysis will give you a “Game Plan” on how to attain your financial goal. Many companies offer financial analysis. A financial analysis will cost between a few hundred dollars to as high as a few thousand dollars. One company, Primerica Financial Services, which is a division of Citigroup, offers the best value for a professional financial analysis. Primerica, which creates a custom design financial report, does not charge a monetary fee for this service. Their marketing approach is, if you are satisfied with the service provided in the creation of their financial analysis, they ask for referrals as their fee.[25]
George Boelcke, a financial consultant,[26] wrote in an article in the American Chronicle:[27]
Yet there is a huge company, Primerica Financial Services, a division of Citigroup, that has made vast numbers of refinance mortgage loans through a product they call SMART. NONE of these are adjustable rate mortgages. Read that again: Primerica has never originated any ARMs with their refinance products (done through Citicorp Trust Bank). Their clients are watching the mortgage crisis from the sidelines and the safely of a fixed-rate term and consolidation, thinking: “that could have been me in a foreclosure…” Because they refuse to do false, misleading, or gimmick advertising, they need to work harder to make themselves known, in spite of doing the right thing, in the right way, all the time? How sad that credibility can so often be bought by simple advertising. But if you´re looking for a second opinion, some options, or perhaps a way out, it might be worth your time to get in touch with them.