Has anyone had any experience with a company called Primerica? I’m not sure what all they do, they call it financial planning, but it sounds like debt consolidation and investing. I know they have their own mortgage company, but I cant really find too much about them on the Internet.
Primerica is owned by Citigroup. It’s a part of Traveler’s Insurance. Check out this article that appeared in the New York Times – http://www.nytimes.com/1994/05/01/business/mischief-under-the-travelers-umbrella.html.
Also Google Primerica and take a good look at the first two pages of SERP results. There have been a lot of complaints against this company.
I looked into them once, what it boils down to with them is all about the life insurance sale… They suck you in with all the promises of making money and helping your financial freedom, but it IS ALL ABOUT LIFE ISURANCE. I went to the class, enjoyed everything I learned, but was very turned off in how they were all about recruitng people …. wasnt my thing so I didint pursue it any further.
they tried getting getting a list f my friends te very first meeting and wanted to call them to pitch there deal.. I stayed in for a bit longer for the possible prospeccts of being able to help people, but realized I had better plans then they did anyway, they are banked by a heavy bank but what good is that today.. I am still strivivng to help people especially with all the issues these days but I personally couldnt do the primerica way..
hope this helps.. I am not saying they arent for some people just wasnt for me. but read through evaluation seminar they give and ask lots of questions….
Will be honest with all of you, I am a primerica representative and have been for about a year.
For me it was an opportunity to help folks. Yes we do sell life insurance, we do advise folks to get term and invest the rest into a mutual fund. We can do debt consolidation as well, ie loans. We are currently owned by Citibank but Primerica has been around lonnnggg before citibank bought us. They can and often ask for a list of people to show what we do, although I personally have not done this. For me I saw it as an opportunity to make some part time income, to help people and to learn new skills. As a Primerica representative we get all of our licenses and we basically own our own business. So for each person you meet they run their business as they see fit. I have not harassed anyone or hounded them for lists of friends but thats me. Personally I have learned a great deal from them and I just try and help people with anything they need. We have a free financial needs analysis and from there we show you how to protect your income (ie life insurance), consolidate debt (if you need or want it) and save for retirement with our mutual funds.
That was the impression that I was getting too….ITS ALL ABOUT THE INSURANCE. A guy came around where I work and a wanted to talk to people about financial planning. So I met with him and what he said sounded good, but it sounded too good so I wanted to check it out before I got involved. Hes not trying to recruit me to sell but trying to “help” with financial planning. So far everything I am reading doesn’t sound so great. Sounds like I’m better off doing what I have been doing…cutting back spending and working more.
Friends of mine lost lots of money when Primerica merged was taken over by Citibank. Some of the Primerica reps went out of business and could not be found by their customers.