PrimeAmerica Financial PrimeAmerica Financial

PrimeAmerica Financial

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Way to get hosed

Dec 31, 1999 (Updated Jan 12, 2000)
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Rated a Very Helpful Review


Cons:Not cons they are crooks

PrimeAmerica Financial has got to be the biggest con that I have ever seen. 9 months ago my wife and I met with a member of the PrimeAmerica team to discuss setting up our financial futures so as to make sure that our children would be taken care of as they got older and if anything should happen to us. So we set up a budget process and also applied for life insurance for my wife and I. It was required for my wife to have some blood tests taken and so the vampire stopped by her work and drew blood. About 2 months went by and my wife received a call to say that they had an contaminated blood sample and would have to be by for another. So they took more blood and we never really heard anything from them until today December 31, 1999. What we got was a letter saying that they had cancelled our coverage per our request, and returned our deposit that they have had in their banks for more than 9 months. They returned said deposit without interest, and without explanation as we never requested cancelling. In fact my wife called once a week to see if the policies were yet in force and when we would receive the paperwork for our life insurance policies. As near as I can figure what they do is take your deposit on your insurance, let it sit in their banks as long as possible, drawing interest and then send it back to you saying sorry you cancelled if we can be of further help call. This is the best legalized scam I have ever seen and it can't be illegal because they return your money and you are out nothing but time.

Recommend this product? No

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