Primerica - Opinions??

[karen110]

Take this for what it's worth, but utilizing Primerica's products and recommendations was by far the best decision I've ever made.
I sat down with a Primerica agent, about seven years ago. At that time, I had $40,000 in my retirement account in fixed income, , I had no emergency fund, I had no Roth IRA, and I had no life insurance outside of work, I had quite a bit of credit card debt, and I was living paycheck to paycheck.

I have been with the company seven years. I now have $300,000 in my retirement account, I have $10,000 in my emergency fund, I have a Roth IRA, I have a term life insurance policy, I pay my credit cards off completely every month, I started accelerating my mortgage and my house is almost paid off, and I budget and do not live paycheck to paycheck anymore. All of this was based on recommendations that they made to me and I used the products that they suggested.

If you ask me, thats not bad for a group of know nothing salespeople.

[auttienkassiemom]

RUN...RUN FAR AWAY!!!! My husband and I have had nothing but bad dealings with them.

[Tree0164]

I wish I saw your message about Primerica earlier. Years ago I saw a general help wanted aid for an Administrative Assistant working for them, but when I got to the "interview", there were tons of other people there and it was for their sales presentation to become an agent. The guy who I spoke to on the phone did not apologize or care that he got me there under false pretences and just kept. giving me his sales act and when I tried to leave he tried to physically prevent me! I had to say I was going to the bathroom to get out of there! If they have to lie to get you into their offices, they can't be offering anything of value. I would stay far far away!

Same thing happened with my husband-he had his resume out on Monster and they contacted him for a job interview and it was the big group. Let's get more people for our MLM. What a scam.

We couldn't get them out of our lives for awhile-showing up at our house etc.

[mrowka]

I used Primerica

I guess it depends what you expect. I used primerica for Financial planning and they saved me from loosing a lot of money. About a year ago I was very aggressive with my stocks. I don't know much about stocks to begin with. I thought if I'm making money that's great. Well I didn't know what was happening and when they proposed some changes I went with it. They saved me a lot of money, because after I made the change my stocks went down......... way down. As bad as the whole market is I’m still making some money. This guys know the market and they know what's happening. they study all the changes and they do their best to save their clients money. they are the experts I'm not.
First of all you have to know what you expect from your financial planer. Don't expect miracles. Especially this days they don't exist, market is bad. I’m happy what they provided me with. First of all, it was free. The plan that they prepared for me didn't cost me anything, just references (my friends used them too) even if you don't go with them it doesn't hurt to listen. It only takes about an hour for them to tell you about what they do.

Second, they have other services that we used too. they provided us with additional life insurance (I just had a baby and my husband and I are thinking of the future, you never know what happens, I hope none of us would have to use it, EVER) they also have legal services. you pay about $25 a month and you can use their legal opinion as well as they will prepare a will for you and your husband. We got that before I had the baby and the hospital used it just in case if something happened to me. we made sure we included who is going to take care of our baby if something happens to us. This way you save your families from fights and arguments, everything is spelled out in the will.

My husband and I thought we had a great life insurance and stock options etc. but this was an eye opener. My husband is more into the stocks then I am, but even he was impressed with what Primerica offered.

let me just tell you that we are debt free (NO CREDIT CARDS WOOHOO!!!!) except the mortgage, but even that will be paid off sooner then what we thought.

They don't sell you something if they don't think you needed. They definitely helped us.

[fruitbowlk]

I used primerica for years but when I start reading Suze Orman books I realized the products I was sold wan't the products that I needed. I got life insurance through them which was too high and I had my Roth IRA through them which wasn't the best one I could have had. I don't really think they care what they are selling you as long as they sell you something. I was young and didn't know that I was suppose to be educated on mutual funds, stock etc before being sold them. I didn't even pick my own Roth IRA I was just signed up for it.

[MiikeB]

Take this for what it's worth, but utilizing Primerica's products and recommendations was by far the best decision I've ever made.
I sat down with a Primerica agent, about seven years ago. At that time, I had $40,000 in my retirement account in fixed income, , I had no emergency fund, I had no Roth IRA, and I had no life insurance outside of work, I had quite a bit of credit card debt, and I was living paycheck to paycheck.

I have been with the company seven years. I now have $300,000 in my retirement account, I have $10,000 in my emergency fund, I have a Roth IRA, I have a term life insurance policy, I pay my credit cards off completely every month, I started accelerating my mortgage and my house is almost paid off, and I budget and do not live paycheck to paycheck anymore. All of this was based on recommendations that they made to me and I used the products that they suggested.

If you ask me, thats not bad for a group of know nothing salespeople.

If you managed to go from 40k to 300k dollars in seven years that means you are putting away atleast 2k a month, plus money for your extra mortgage, emergency fund, credit card debt, Roth IRA AND normal bills. Not saying this is impossible, but you are probably making 6 figures, if not then extremely close.

Anyone could have shown you how to manage to live well and save off that much money, I would not use this as a good example of them being a good company.

[Angio333]

My term life insrance is with them and I am getting a good price.

There mutual funds are loaded and are very expensive.

They are a MLM company so the financial planner has to recruit in addition to selling products. His pay is 100% commisison and his commisison rate is depended on how many people he recruited.

[asmom]

Primerica is a MLM company. Funny thing, I have been approached by at least three of their "agents" in an attempt to get me to join their ranks. Two of them were complete strangers off the street. Not once has anyone ever attempted to sell me any financial services or products. What does that tell you?

[terry1156]

Just a quick note to all the people looking for advice about this company. The positive reviews that are made where the person has less than 5 posts, take with a huge grain of salt. I would put much more weight on the opinions of those that use this site regularly and have been members for a long time. A person that signs up and then makes their first post about how great a certain company is you have to be a little skeptical about.

[asmom]

Just a quick note to all the people looking for advice about this company. The positive reviews that are made where the person has less than 5 posts, take with a huge grain of salt. I would put much more weight on the opinions of those that use this site regularly and have been members for a long time. A person that signs up and then makes their first post about how great a certain company is you have to be a little skeptical about.

I'll second that.

[tripods68]

Primerica is how I got my life insurance business, selling Term Insurance back in the early 90s - while going to college FT. I went to my classes in the morning, worked part time for the VA in the afternoon, delivered pizza for Pizza Hut at night, and sold Term insurance on weekends. I was pretty good selling. I did this for about 4 years until i finally graduated college in 1996. Then stopped altogether after FT job came along.

My history with about Primerica was actually fun. I'd never attended so many seminars in my life. But it's really about building your own business if that's what your ultimate goal. If your used to working for someone else 8-5, then sales job is not for you. You have to be productive as independent contractor in making your comission. Personally i'd only focused on selling insurance and nothing else. But to make some serious $$, you definitely has to recruit more. Most people that enter this job tried but too many also failed. Those horror stories were also true. In insurance business, I think that is very common. Like any sales job, you also need to do your own due deligence.

[toptaxguy]

Beware of any firm that sets up financial plans and then recommends investment products from their own company. Primerica is notorious for this.

These companies make their money selling their own branded mutal funds with excessive MER's or other fees.

Try finding a Certified Financial Planner that is either independent or is also an investment advisor selling non-proprietary investments.

[dsstao]

I was once approached by Primerica and asked to become a financial advisor for them. In my surprise, I asked them "What are the qualifications required for this job" to which they to me "None, anyone can become a financial advisor". I replied "Don't you think it's important that financial advisors have a degree in finance or similar?". He answered "Absolutely not.". Oh, and I have a background in IT, not finance, and I'm sure as hell not qualified to be a professional financial advisor. Primerica didn't care. Take what you want from this story, but I'll never use them.

[best]

Primerica

I guess it depends what you expect. I used primerica for Financial planning and they saved me from loosing a lot of money. About a year ago I was very aggressive with my stocks. I don't know much about stocks to begin with. I thought if I'm making money that's great. Well I didn't know what was happening and when they proposed some changes I went with it. They saved me a lot of money, because after I made the change my stocks went down......... way down. As bad as the whole market is I’m still making some money. This guys know the market and they know what's happening. they study all the changes and they do their best to save their clients money. they are the experts I'm not.
First of all you have to know what you expect from your financial planer. Don't expect miracles. Especially this days they don't exist, market is bad. I’m happy what they provided me with. First of all, it was free. The plan that they prepared for me didn't cost me anything, just references (my friends used them too) even if you don't go with them it doesn't hurt to listen. It only takes about an hour for them to tell you about what they do.

Second, they have other services that we used too. they provided us with additional life insurance (I just had a baby and my husband and I are thinking of the future, you never know what happens, I hope none of us would have to use it, EVER) they also have legal services. you pay about $25 a month and you can use their legal opinion as well as they will prepare a will for you and your husband. We got that before I had the baby and the hospital used it just in case if something happened to me. we made sure we included who is going to take care of our baby if something happens to us. This way you save your families from fights and arguments, everything is spelled out in the will.

My husband and I thought we had a great life insurance and stock options etc. but this was an eye opener. My husband is more into the stocks then I am, but even he was impressed with what Primerica offered.

let me just tell you that we are debt free (NO CREDIT CARDS WOOHOO!!!!) except the mortgage, but even that will be paid off sooner then what we thought.

They don't sell you something if they don't think you needed. They definitely helped us.

That has been my and my wife experience.

You have to be discerning.. Some reps are not as well trained as others. Having dealt and met with many reps. The greatest strength for primerica is often its greatest weakness.

That is any one that comes in may not be as well versed in the insurance/financial planning as one could hope for..

So not every one gets the same training. Depending on the office.. There may not be as a good person who understands what goes into financial planning as there should be. But then I have run into other companies that seems to have the same problems..

It is not really about who has an MBA in financial planning or even who a bachelors degree in accounting.

It is really the rep that you are dealing with at the time.

[harisk23]

whole life

I work for primerica im on my way to getting licineced.and weather or not you have experience doesnt mean anything as long as your certified you know what your doing and any questions you may have will be answered ..u worry more about people with masters nd all that but it dont mean they always know what they are talking about ..in the end if u have whole insurance u will bw screwed in the futue and you are only making the company rich....term life insurance is the best and smartest and is the best way to go

Sorry for spelling mistakes my,fone is being slow on here