|
|
 |
 |
 |
 |
 |
In Reply to: Re: PRIMERICA IS A RIP OFF! posted by jen on May 19, 2010 at 01:50:52:
Wow the lack of accuracy on the internet is amazing. I am a CFP and have owned my own practice for 19 years - let me let you in on a couple of secrets.
First of all there are crooks at every company and there are honest people at every company including yours. Primerica is no different. In our industry they are considered a starting point or first job for many advisors. Often these advisors are pretty honest people when they start, its their managers who talk them into getting their entire list of friends and family to become clients. So if you are going to do business with Primerica it might be wise to ask how long your advisor has been in the business? Common sense for pretty much any professional you would hire.
Ask for three references to clients that have worked with them for at least two years.
Look up the advisor on the FINRA website. You can tell how long they have been in the business and if they have any complaints.
As for the products you choose they are a matter of your own situation. Anyone that states permanent insurance is always bad and term is always good has no idea what they are talking about and should be avoided at all cost. Each have their place and each are helpful depending on the client situation.
For example a permanent policy can be extremly helpful with respect to estate planning and high net worth persons wishing to leave wealth to the next generation or a charity. It really just depends on the client situation.
In the above example it appears the person bought a 20 year term policy and like all temporary (term) polices the premium will go up at the end of the term because you lock in that low premium for a fixed amount of time. In other words this person was probably not ripped off.
Do your homework, use your common sense.