April 1, 2009, 12:01 am

Primerica For Sale? Not Any More!

by: The Financial Blogger    Category: Primerica Series
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primerica-for-salePrimerica for sale? Not Any more!

If you have been on my blog and been checking comments once in a while, you probably noticed that some people argue (sometimes really hard) about Primerica and my point of view to know if Primerica is a scam or not. After several post about this company and discussion with Primerica agent, I have come to the conclusion that Primerica is not a scam but it is not for everyone also.

You probably heard that Primerica is for sale by Citigroup. In fact, Citigroup is looking to sell Primerica since they urgently need more cash flow to maintain their business model. I have made some great contacts within the company since I wrote my Primerica Series. I must admit that I have probably more friends than foes within Primerica πŸ˜‰ One of them contacted me earlier this week to tell me that Primerica has been sold!

It will actually be announced later on this week (or maybe today!) and this is why I decided to post this article at midnight to make sure I was the first one to publish this big news: Primerica has been bought by… Berkshire Hathaway!

The Company managed by Warren Buffett is known to buy solid and cash flow positive assets. This is why Berkshire Hathaway decided to buy Primerica. Citigroup desperately need cash to keep going in the economic turmoil and certainly didn’t want to disappoint investors since their announcement back in March that the first two months of activities in 2009 have been lucrative.

This is actually a good trade for both parties. Berkshire is acquiring a solid and well built cash machine that will keep producing a good income flow for many years. Regardless if you like Primerica or not, you must admit that their business model is made to make good cash; they pay only if you sell and they spend little to no money into marketing approach (since they use the word of mouth and their own employees to recruit). They actually are one of the most lucrative assets owned by Citigroup right now.

On the other side, Citigroup will receive enough money to re-establish his status of the biggest bank in the world and going forward. Since cash is king and banks are definitely looking for more these days, the sale of Primerica will allow Citigroup to breath again and concentrate no their business instead of looking for other ways to get more financing from months to months. This will stabilize the whole company and will probably be seen as really good news on the market.

It appears that Berkshire would terminate the contracts with Primerica representative in order to switch most of the life insurance contracts to another of its company!

The price of the sale has not been announced yet, it will probably be declared during a press conference later on this week. If you know more details than I do, please share them with us!


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That explains the big ass bonus check I just got. Oh well, time to move companies.

I thought it would be a cool April’s fool πŸ˜‰

Please spell “Buffett” correctly.

by: The Financial Blogger | April 1st, 2009 (9:50 pm)

ooooops !

[…] 4-TheFinancialBlogger looks into the sale of Primerica! […]

[…] Financial Blogger reports that Primerica is not for sale anymore. It was bought by […]

Is this an April fools article?

big time April fools joke! Great one Financial Blogger!

by: lolo arevalo | April 6th, 2009 (4:39 pm)

this reads like an april fool’s joke and its not funny esp wen people in the company are anxious as it is with future of the company Let me blunt it showed no class and was tacky!

Hey Socal,

it isn’t… or may it is…. hum….

by: The Financial Blogger | April 6th, 2009 (9:24 pm)

Hey Lolo,
I’m sorry you take it this way. In fact, people that work for Primerica are not really working for the company as they are all self employed (most of them).

Then again, even if the company would have been bought by Berkshire, it doesn’t mean that people will loose their job. Primerica is for sale and it’s not a big secret so it will be bought by one company or another.

Trust me, i’m not worried about “loosing” my position with the company… Primerica IS the sales force.. there is no Primerica without it’s 6000 RVP’s. So whomever buys Primerica, is buying the sales force (that is what has value).

I thought the company was going IPO, that’s why I asked if a deal with Berkshire is legit or if your just tryin to mess with Primerica agents?

of course we are self employed that goes without saying, but the fact remains that if the company is associated with another company it could mean a difference in structure, credibility, etc..but to mislead agents esp if they shared this info with clients, family,etc.. could be potentially detrimental to the creditability of the agent. I wouldn’t expect you to understand since you obviously spend time writing senseless information

Hello Socal,

Honestly, this post came directly from my imagination πŸ˜‰

Going IPO may be another great option and Citibank would probably get a good price out of it. On the other side, I don’t know if the market is ready for such important IPO as it is still fragile.

by: The Financial Blogger | April 7th, 2009 (5:44 am)

if you noticed, I wrote that this was an April fool the very same day. I don’t think that anyone that is serious about his business would go around and spread a news based on a post written by a blogger on April 1st before verifying the veracity of it.




That was funny. You had me going with this for a moment.

All of our little MLMer friends I’m sure were ready to start throwing themselves from the top of their pyramids. πŸ™‚

[…] Primerica has been purchased by Warren Buffett […]

YUP!!! good one FB, having been at PFS many years ago (we all make mistakes…) It does not suprime me taht some of them would take this so call info as true and start spreading it around man! they are so gullable

by: Mark C. | May 16th, 2009 (1:33 pm)

I guess sum people have nothing better to do with their lives and havent grown up yet..that’s life for you!

Oh that’s from my imagination too :p


I’ve read your Primerica thread. You should be ashamed. Your April Fools “joke” was reprehensible. I have only one question: What is it that you actually do that helps others in a real and not only a perceived way?

Speaking for myself, I help families protect survivors in the event of the unfortunate loss of a family support or other loved one who’s untimely departure would represent a financial burden/risk. I do this with Term insurance that is priced competitively in the market while offering full coverage for the life of the policy and benefits not found in competing brands. I also help individuals and families construct and implement investment grade asset building plans that position the client properly for attaining their financial wealth building goals. These goals could be described by such things as properly funded retirement strategies, college savings plans, home ownership pathways, etc.

Due to an expanding selection of world-class quality financial related services I’m also able to help clients examine their cost/value picture when it comes to their property & casualty coverage needs. I have also helped my clients tame and gain control of their debt management situations. Of course this includes our mortgage banking capabilities in addition to new services coming along that will be very exciting not only for our clients but to the financial services industry as a whole.

By the way- as always the need for what I and PFS do is expanding at a brisk rate. Truly. So, as you might expect I am hiring for the company. Why? Because we need the help. If you don’t like to talk to people about what you do and how you may be able to be of valued assistance to them then I suppose me and my company are not for you. So… I ask, What is it that YOU really do?

Best regards.

PFS Agent,

Actually, the only thing I am ashamed of is that I forgot to put 2 “t” at Buffett in my picture! I think it was a good joke, so do a lot of Primerica agents (ask Richard!).

More seriously, I DO help people. SURPRISE! you don’t absolutely HAVE to work for Primerica to help people. Want real examples? Here we go:

#1 Planning solid investment strategies for client so they can retire. Last year, I saved a 73 yr old from losing 40% of his money in oil income trust and he now shows positive return. Another of my client made more than 60K this year and save 6K per year in management fees with the very same investment structure he previously had (I guess you do bond ladder and consider fiscal impact while choosing funds at Primerica? you probably use corporate class fund for non-registered investment as well, right?).

#2 I help many people getting their will done properly with a lawyer and do estate planning in order to save taxes and make sure their estate is distributed according to their will (and laws).

#3 I help young couples to setup their finance, make a budget, learn the basics of investments and buying their first home.

#4 I help company owners with strategies such as the split dollar in order to save a lot of taxes (3% tax rate instead of 33%).

etc, etc, etc,

On my blog, besides the fact of providing useful information, I also entertain and make people laugh in a while. So spend a few more minutes on the blog and forget about my Primerica treads… I’m sure you are going to love it… and realize that I can help people without having to work for Primerica. I actually work for an “EVIL” (as you love to describe them) bank and I can do all of this… impressive, isn’t?



Wel Well do tell, I knew this was coming, Guess maybe I can get back at Primerica and all the others that work with and for them by buying their stocks and making them work for me as a shareholder.
Maybe that is how Karma will finally come around bite those ****** ins the *****
They make money and they may have good products and education for their clients but believe me as a former RVP they are the worst “CULT” ever in the history of the universe. One person doesnt like you they “Shun you” and force you to leave then lie and say you left on your own accord. They are very very nasty nasty people to work for. Lies and deceit!! I know all of them only to well, including the authors that speak for them and teach money to the children and and the corporate people, and the high ups. So do not tell me they are a good company they are selfich and greed driven and use GOD Family Business as a lie to use and abuse the people they hire then push you out and take everything from you.

Hey CT, I cant believe im responding agein in this waste of time blog! But when i say your comment I jst had to say my 2cents… First and foremost you say you speaking from experience…MRS or MR. cant even put their name ..So called RVP…wonder did you practice withing compliance…dunno..Many peopl join Primerica not all of them are good..ders boud to be a few rotten apples in the bunch…Doesn’t mean the company is bad..

Secondly You watch wat you saying couz you just trying to paint an ugly picture about this amazing Company Primerica that help my family, all my friends, all my relatives and clients..so dont giv me dat BS! Secondly Your we’re as you claim an RVP..why did you leave..maybe you wer not making enuff money so you quite..to many chargebacks i wonder?? not explaining well and taking your time to educate your clients or yourself about our..as you put it “They make money and they may have good products and education for their clients …’ What an oxymoron comment by adding ” “as a former RVP they are the worst “CULT” ever…” its seem you had your wires cross and you pissed of cuz you couldn’t take advantege of your clients the way you wanted to so you either quite or got terminated for client complaints or 4being non- compliant that why you can online whine and complain on message boards which have no credibility nor solid evidence. Me and my uplines, downlines and sidelines dont have that kinda messed-up business or personal relationship with each other at our offices and training centers…I dont know your office did may yall hated each other ..I cant believe that! haha! What a joke! Neways that s you story as for me, my team , my family and clients we’re completely the opposite and we’re doing AWESUM! So unless you can back up what you are saying. put it into writing and signing it…with your real name by the way..so that the company can pursue you to court MR/MRS Cat tales got your tongue!

I betch my old debating buddies in this blog will respond to my comment …huh wat i waste of time..but I will only respond to you CT!

You just been serve enjoy,

by: Answer this | November 17th, 2009 (12:24 pm)

Mark C. it doesn’t look good to attack CT reasoning for leaving PFS. In a small sense you kind of support his point about how former reps. are looked upon once they leave the fold.

by: Answer This | November 17th, 2009 (2:31 pm)

One more thing. Many of us who joined PFS was to help people. Now many of us who have left is to help people to the best of our abilities.
Maybe this video can make it more clear. “If I couldn’t save you money, give you a better deal I didn’t want your business.”


Once I found out I had other choices which could mean more coverage for less or equal money which I could offer my friends and relatives I had to ask myself where was my loyalty.

At claim time how much does a carrier really care about a direct family member? All things being equal which is more important to the family at claim? The amount of the check or the name on the check?

Client first, company second. great quote “”If I couldn’t save you money, give you a better deal I didn’t want your business.” As independents we can just take it to another level..

personaly i think that primerica is a very good company from what i have seen ive watched the impact the products this company has to offer vs the competition on families. I mean its literaly the difference bettween retireing with 200,000 and 2,000,000. and i dont care what people think of the business model because the fact is that if marry k and amway and avon can do it why cant primerica if its good for the client and company and the sales force whats the problem? furthurmore why would citi pay a billion dollars for a pyramid scheem? its called due dillagence. so before anyone make derogatory comments about the company do the reserch for yourself. when other companies are falling left and right and crumbling to the ground or taking tax payer dollars who is actually still in the black? PRIMERICA!!!! thats who and guess who never ingaged in selling those mortgauges that nearly destroyed our economy? oh is it primerica i think it is…well in conclusion as much as people want to attack primerica because they have maybe had a bad exsperience with a sells rep well if the company is made up of independent contractors iam willing to bet that not everyones gona be knowlegable not all of them will have the best intentions or maybe not all of them will be willing to sacrafice their commision for what the client needs but you know what at the end of the day 98.9 of the sales force will so that being said dont judge a book by its cover. over all its a great oppurtunity to join and from the client stand-point it offers some of the best solutions to financial problems in the industry so say what you will Primerica is the best oh and if you dont belive me just ask AM best or money magazine just a lil something to ponder.

Say what you want about Primerica. The facts are that they are a very profitable company, and they do a very good job of educating the consumer. The company preaches about having a written financial game plan, buying more affordable Term life insurance, price shopping for auto/home insurance, protecting yourself with long-term care insurance, and investing long term into diversified mutual fund portfolios.
Sounds like solid financial advice to me.

Since there are 100,000+ agents, you’re obviously going to hear about a few agents that aren’t as trained or professional as they should be. Hence all of the negative postings. (Let’s be honest, some negative posts are from their competition too.) But overall, the company is solid, and their concepts are consumer oriented.

Their network marketing structure has worked pretty well, and is a legitimate business opportunity. However, I do feel that since the departure of Art Williams many years ago, the company has since gone soft in it’s competitiveness and has it’s best days behind them. Yes, they are still very profitable; but they are not the powerhouse that the A.L. Williams Agency once was.

Primerica has filed for an IPO, although the date has not been officially announced as of yet. Maybe the IPO will breath some new life into the insurance “Crusade” that they were once known for.

Personally, I’d invest in the IPO.

by: Michael M. | February 1st, 2010 (10:48 pm)

The company is profitable…their agents are not.

The average agent makes less than $900 annually and they are not trained in classical matters o finance at all.

I’m neither Primerica rep or opposition, but I appreciated the joke even if it (obviously) touched a few sensitive parts of agents egos. The long diatribes suggest passion on both sides (yes you too TFB) but that is the thing that makes America/Canada and humanity in general so awesome…… freedom! I would suggest to everyone here that somewhere there are people in another country PASSIONATELY and VIOLENTLY arguing that “our” way of life is the way to hell or evil. I say that however you decide to help people is your choice and no one here is inherently evil (not even you TWB at at your money hungry bank πŸ˜‰ ) PFS may not be the only way to financial salvation, but neither is the average persons job with inflation growing faster than wages.
It appears we should all just learn to take a joke and humbly accept criticism constructive or otherwise on a blog. I mean really, are we really going to play internet gangsters now……really? Lol! Save the preaching for church, the negativity for your psychiatrist, and the infinite (already settled) debate of Primerica vs Cash Value vs critics of MLM for a face to face discussion with someone knowledgeable.

No disrespect intended,

C. White

by: The Financial Blogger | March 31st, 2010 (1:16 pm)

Hey CW,
thx for stopping by and commenting πŸ˜€

Thank you. I’ll be back! (Arnold Schwarzenegger Terminator voice)

by: The Financial Blogger | March 31st, 2010 (1:42 pm)

For once, I don’t get crucified by a reader on a Primerica article πŸ˜‰


UUUUU…u got it wrong douch bag….was not bought by Berkshire Hathaway….but good for you taking a guess with no regard for your own credibility:) ROCK ON…lol

by: The Financial Blogger | April 1st, 2010 (12:20 pm)

@ STC….
oh my god… you so didn’t read this post and you so didn’t notice it was written on April Fool…. issssshhhhhhh…….speaking of credibility πŸ˜‰

Wow. I hope you’re not a PFS agent there STC, cuz I don’t think you should be calling people d-bags and stuff. John Addisen would NOT approve. Lol.