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In Reply to: An interesting article I found posted by Primericasucks.com on August 31, 2001 at 18:17:06:
This is an excellent example of how loosely regulated the Primerica reps are. This article, as well as others has been posted in the past. While most insurance and financial service companies have had some sort of action against them, most admit they were wrong and get their act together once that happens. Primerica and their reps, on the other hand, try to show that it was no big deal and was an isolated incident. Primerica reps have posted such things as, “It was only a $10,000 fine, it couldn’t have been that bad,” or “this was just a few reps in (insert location), this doesn’t mean the problem is widespread.” But what they have is a few reps here and few there and a few $10,000 fines here and a few there and they add up. I my opinion, Primerica has become very good a settling things outside of legal channels, that way they can keep the hush on what they did wrong and how much they pay out. In fact, someone posted to my board about this exact type of thing. Primerica offered her $5,000 for her trouble and to keep quiet. She said no, but unfortunately, a lot of people probably take this quick money and keep their mouth shut.