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PRIMERICA IS A RIP OFF!
Primerica Life Insurance Company is a subsidiary of Citigroup (CitiBank, N.A.) Primerica Life Insurance Company claims that they are part of Primerica Financial Services, headquartered in Duluth, Georgia - the largest financial services marketing organization in North America with more than 100,000 licensed representatives. Jeff Fendler, CEO & President of Primerica Life Insurance Company states that they are proud of their membership in the Insurance Marketplace Standards Association (IMSA) - the premier standard setting organization for the life insurance marketplace. Mr. Fendler states that "it is a tangible demonstration of Primerica's continuing dedication to ethical business practices". IMSA President & CEO Brian Atchinson applauded Primerica for successfully completing the rigorous, independent review of their marketing, sales and compliance practices to qualify for IMSA membership. Mr. Atchinson states that; "IMSA qualification shows that a company has put into place policies and procedures that are regularly monitored to help assure fair and honest treatment of customers". Atchinson went on to state that; "we congrulate Primerica for their commitment to IMSA's high standards and quality business practices that safeguard the consumer". ARE YOU IMPRESSED? Well then, why did CITIBANK, N.A. become the registrant for PRIMERICA IS A RIPOFF.COM? WHAT IS CITIBANK, N.A. HIDING? and why does CitiBank, N.A. want to control these domain names? Perhaps, it is because Citibank, N.A. does not want potential customers to know how unhappy Primerica's customers really are? OR perhaps, Citibank, N.A. does not want potential customers to know how Primerica really treats their current customers. In my opinion, PRIMERICA STINKS! And in my opinion, it is all about money and CitiBank, N.A. and in the name of the almighty dollar, CitiBank, N.A. ran out and became the registrant of the aforementioned domain names! It clearly appears to me that CitiBank, N.A. is doing everything they can to make sure you don't find out that there are citizens out there that truly believe Primerica is a Ripoff!
Here's what happened to me! In 1987, I brought a $175,000.00 "key man" life insurance policy. My premiums were $395.38 a quarter. Twenty years later, Primerica raised my quarterly premiums from $395.38 to $2,354.73! - a whopping 600 plus percent increase! As you can clearly see from the aforementioned figures, my yearly premiums went from $1,581.52 a year to $8,885.75! Who in the world would pay $8,885.75 a year for a $175,000.00 life insurance policy? Then, after I screamed, Primerica dropped my quarterly premiums to $1,298.90! I guess Primerica charges consumers "whatever they can get for their policies"! Now, I am paying almost $5,000.00 a year for a $175,000.00 life insurance policy! and somehow in all this, Primerica wants consumers and their customers to believe, according to Mr. Fendler, that Primerica is dedicated to ethical business practices! What again was the reason CitiBank, N.A. ran out and became the registrant for the domain name PRIMERICA IS A RIPOFF.COM? Oh, CitiBank left no stone unturned in that process either and to cover all of their bases, Citibank. N.A. purchased all the available extensions too (.net, .org, .info, and .us) Just shows you lengths Citibank, N.A. will go to protect one of it's subsidiaries AND CitiBank, N.A. wants you to put your hard earned money into one of their financial institutions? PLEASE!!!! I don't know about you but I think I will keep my money underneath my mattress rather than depositing it into one of Citibank's financial institutions. If this is the way Citibank resolves it's disputes with one of it's own subsidiaries, I certainly don't want to trust them with my hard earned money, but that's just my opinion!
In closing, and personally, I wouldn't do business with CitiBank, N.A. if they were the last financial institution on this earth. As for Primerica, well you be your own Judge as to whether you want to do business with them. However, I encourage you to do some internet research on them and see how they recruit their agents! I am so sorry I ever did business with them! and I have been with them for over 20 plus years! I hope you do not make the same mistake I did!
Brian P. Allman
E mail address is: brianpallman@aol.com