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Posted by eric on February 26, 2004 at 11:44:24:

In Reply to: Deceptive Practices? posted by Logic? on February 25, 2004 at 02:50:56:

I was in Primerica a few years ago.
I witnessed first hand many deceptive practices that were not only accepted and allowed, but were taught and encouraged.
I realize that these may not be "official policy" of Primerica, but that does not mean they do not exist.

Some examples are:
(1)-In sales presentations, agents are taught to say "whole life" or "cash value" life insurance is bad. They are taught to call it "Trash Value" insurance, and that the rest of the life insurance industry are crooks. The problem is that the agents are never really educated on the mechanics of the many different types of insurance...all of which have very appropriate uses. Term is not always the best choice, and with the serious lack of education in the Primerica ranks, how can they truly tell which type is better for the client in all situations. (As noted by the Primerica slogan "We do what is right for the client 100% of the time)

(2)-Agents accept what is told to them by their uplines as gospel, and restate these as fact to clients, and many of these statements are false. By doing this, the Primerica Agent does not fulfill the fiduciary responsibility to the client, and uses false statements and half-truths to sell or recruit. (As noted by posts made by Enrique here on this board. He has stated the following: Primerica is not a MLM; his upline says Merill Lynch wont even talk to you if you dont have at least 200k; Primerica was the only company to pay out all claims on 9/11) These are all statements I heard my upline say as well, and we know they are all 100% false.

These are just 2 examples, and I have more, but you get the picture.

: I suggested to a poster to start this thread, but changed my mind and decided to start it myself, out of curiosity. If you don't already know, I also post as "Steve" and I have been working with Primerica for a while now. Several times, Primerica has been accused (on this message board) of being involved in "deceptive practices". Now as a Primerica agent, it is my understanding that what I'm doing is not deceptive and is in fact good for people. That is also the understanding of my upline, my RVP, and my RVP's RVP. Now, is there something all of us aren't getting here.. that you people on this message board know? I would like anyone who feels that Primerica is deceptive or unethical to post under this thread, and explain why they feel that way. Please don't bring out 17 year old documents (or court cases). This is not 1987, this is 2004, and I want to know what some people on this forum feel Primerica is doing now that is "deceptive" or unethical. This will help me understand where some people are coming from, and may also give me a chance to help clear up some misconceptions about the company. Thanks.



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