Debt Relief Industry

Primerica to Sell Debt Settlement for Freedom Financial Network. This is Going to Get Messy.

Written by Steve Rhode

Well it’s official. Primerica representatives are going to start promoting debt settlement for Freedom Financial network. The first public information on this was sent in by a reader.

The Facebook announcement says:

Imagine how it would feel to not worry about debt. Primerica is pleased to make Freedom Financial Network available to help you determine your best debt relief option and be debt free! – Source

Hopefully the Primerica representatives have been given some comprehensive training about their liability and what they can’t say under the FTC TSRs.

It’s a good thing that Primerica describes themselves as a company that helps people that have to “settle for less.” – Source. Well I guess they are now.

And here we go. My prediction is this is going to get messy with all those inexperienced debt relief sales reps out there in this multi-level marketing company selling debt help.

Primerica is described as a multi-level marketing company which sells financial products and services using a hybrid model of direct selling, franchising and distribution.

Headquartered in unincorporated Gwinnett County, Georgia, Primerica spun off from its former parent company Citi through an initial public offering on April 1, 2010. It is a financial services marketing organization in North America with approximately 90,000 independent representatives, including 22,000 Financial Industry Regulatory Authority (FINRA) Series 6 licensed through Primerica’s securities broker-dealer affiliate PFS Investments, Inc. in the United States, and through PFSL Investments Canada Ltd. in Canada. The company focuses on the sale of term life insurance, as well as providing other financial products and services including mutual funds, annuities, segregated funds, managed accounts, long-term care insurance, pre-paid legal services, auto insurance, home insurance, credit monitoring and debt management plans. The company has more than 4.3 million life insurance clients and over 2 million client investment accounts. – Source

Primerica conducts business principally in the United States, Canada and Puerto Rico.

READ  Debt Settlement Job Opening - Underwriter - Freedom Financial Network


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


  • Wow so I’ve come across this article and actually enjoyed the sarcasm but intelligence in the overall article and subsequent comments (hilarious).

    Let me start by saying I myself am a Primerica rep and “crusader” I’ve been with the company for almost 2 years and have certainly had both negative and positive experiences in and out of Primerica.

    I’ve encountered negative activity within the company which you can certainly find within corporate America as well. I’ve also encountered unbelievably awesome people within the company. I’ve read quite a few books Art has put out in how to run your business the “correct” way as I believe in what we do and genuinely believe in crusading for a difference for middle class america.

    Damon, Steve, etc and anyone who will even read this posting as this article is almost 2 years old …

    No doubt you all seem like educated people and are aware that both companies are great. There is little disputing that. I do agree with you that a MAJORITY of reps (kind of like just people who think they know politics or what life is about) are flippin stupid. They are completely unaware of the implications incorrect business can have along with even just referring a company or speaking about them. Somehow people come into Primerica and think their motto “Freedom Lives Here” means YAYY I can be an idiot and do whatever I want here… uh NO. Freedom is referring to taking people out of typical corporate America or being slave employees for their lives and giving them an opportunity for accumulating real substantial wealth. Honestly, Primerica is wonderful in giving you materials to succeed, training information and all of the strategic partners including FFN have trainers like their VP’s who come make their presence known and give out information to help train people better as well as what’s going to actually build a business.

    Those that do fb posts about debt relief etc… are completely out of line and usually desperate…(as if this wasn’t obvious). Many people don’t succeed here. In fact most don’t. It’s not an “easy” system to succeed as considering a lot of negative publicity despite the success on the business end.

    At the end of the day you cannot help what people do or don’t do correctly. If someone does encounter a poor Primerica rep I hope they don’t leave with a sour taste in their mouth regarding the company as a whole but, only the individual but, as with even the order taker in the drive thru at Dunkin Donuts… you represent an enormous company and that sense of responsibility should be taken highly.

    For the man your speaking of and his debt situation…

    Personally… if reps have red financial books… there are MANY other options to helping him with his debt and getting on his feet prior to setting up a plan he can’t reasonably afford.

    When I called for my own debt at FFN… they asked me “can you afford… xyz” it’s truly on the individual as I have stated.

    The thought process behind the article I completely understand I really do but, the unreasonable expectation that every rep is going to behave within your distinct lines of perfection is unrealistic. People are people.

    Just like your fellow writers not all are going to spit out quality writing and not have to write retractions during their career.

    It happens.

  • Hi Steve, I must correct you on your reporting of Primerica and Debt Settlement article you wrote, First of all We do not describe ourselves as a company that helps people “settle for less” our mission statement is “Help families become properly protected, debt free and financially independent” that is much more that any other financial services company is doing for the consumer nowadays, secondly as representatives we do not have to get involved in the process of debt settlement we simply are referring agents Freedom Financial is our partner in helping the client through the process, I strongly suggest you do due diligence before writing an article that provides misinformation and post it as a factual research, no research was done before this article was posted, therefore it makes you look as simply another charlatan online.

    • Steve is a charlatan? Why? For telling consumers to take a step back and review all options before making a decision? For daring to raise the question that a commissioned sales rep from Primerica might not be the best source of unbiased information about dealing with debt?

      Ya, that sounds so shady.

      Tell me, what does “simply a referring agent” mean and what kind of confidence should your clients have with your recommendations since you are just a referring agent?

    • Victor,

      On the “settle for less” statement, did you not click on the source link that shows where that comment came from at Primerica and the context? I don’t mind you being critical of something I’ve said but seriously, when the documentation is right there it seems you didn’t bother to click and do your research.

      If your mission is to help families then why would debt settlement be part of that strategy? The math clearly shows that those who would qualify for a chapter 7 bankruptcy and get back to saving in 90 days rather than enter a five year program will be better off financially in the long run. Do you do any real assessment or do you just hear keywords and refer for commissions?

      It is a bit surprising that it appears you are calling yourself a financial services company representative and yet you are not aware of what the people you refer are being sold. And you accuse me of not doing due diligence?

      What in the article above is incorrect or wrong? And as far the the title goes, I think you just proved my point.

      • Primerican’s are taught to only believe their truth, and not the truth. The good thing is, the vast majority of pro Primerican blog lemmings are typically no longer with them by the time you respond!

    • How can a company selling overpriced term policies (verifiable online at Term4Sale, etc) be the cornerstone of helping people financially?

  • Exactly all Primerica reps does is refer clients to Freedom Financial. Primerica reps have nothing to do with the process of the debt settlement program. All the do is refer clients to FFN

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