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In Reply to: Re: Re: Re: Re: Re: Re: Re: Re: Re: what do I need to know about primercia before I get started with them posted by Mislead by PFS on January 10, 2001 at 15:33:01:
What are you talking about? Why would I be breaking compliance rules for telling recruits the TRUTH? They all know that PFS does NOT cover E&0. Stop jumping to conclusions!
This was a conversation between me and someone else- get the whole story before you jump in.
: : Everyone in our office knows this too. We (my husband and I) make sure of it. Why would we want to lose our business over something so trivial?
: --Yet you risk that by breaking compliance rules and posting here!
: : (we are RVP's) I just don't understand why "mislead" is on this complaint line if in fact it was his/her FRIEND that got "mislead". If it was so bad, why is the friend not complaining here too?
: --You ever been so pissed off at something that you want nothing more to do with it? There you go!
: : I have had numerous incidents (either personal or heard of) where PFS has been there right till the end. AND THEY CAME THROUGH! We have so much successes with PFS- it is funny how people look for THE ONE or TWO cases that may have not turned out favorably. Like Hector La Marque says... stop complaining. Every company has its glitches- no one is perfect. Just go build a HUGE business and stop worrying about all of the trivial stuff.
: : : Everyone in our office knows that the company don't carry E&O on the agents. A little story about the company backing the agents. A few years back an R.M in our wrote a $1,000,000 policy on a lady. Well, to make the story short, she cancelled her old policy (not by his recomendation) before we got the new policy issued. She was decline. Now, you can see the problem brewing here, yes she tried to sue the agent for the $1,000,000. The company took over from there. They funished the lawyers and backed the agent. He didn't have one red cent come out of his pocket. So, if you do things as the company says they will back you. just thought i would put my 2 cents worth in here.
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: : : : : : : : : : what do i need to know
: : : : : : : : : dear sir,
: : : : : : : : : remember that your net income will be far less than your gross income because you will be self employed and incur many expences that someone on salary would get covered by then company. YOu will have to cover all your own cost at primerica!
: : : : : : : : That's what the independent contractor agreement is all about.
: : : : : : : --No, it's about PFS covering their own butts!
: : : : : : It sounds like you were really burned. What the heck happened?
: : : : : --Not me, but one person in my office made a goof that would normally be covered under E&O, which we were all told Primerica provided for us. Turns out, they DON'T provide that for their reps (except in a few states where it's required by law). Basically, PFS told him that he was an independent contractor and he was on his own for the goof & hung him out to dry.
: : : : If it was your friend, then why are you and I having this conversation and not him/her? You know, that is why they (Primerica/ Citigroup) are so big on compliance issues. When your friend signed up, he/she signed an I.B.A. (independent business agreement) All of that legal mumbo jumbo should have been supplied in the IBA or, in the supplemental information that is (supposed) to be provided with it. It is a shame that some in PFS do not follow the compliance issues that are prescribed by fed, state and company regulations- it seems to ruin it for so many others! When I got involved, I did my research and found out all of that stuff for MYSELF. Fortunatley, I had an upline who was completely honest and forthright with me- I guess not everyone is so lucky.