I don’t think this agent is a licensed securities representative. If he was, he would know that he cannot “guarantee” any sort of return. He was also wrong in saying the investment will earn 12% every year, when he probably meant 12% on average (or maybe this was misinterpreted by the writer.)

However, Mr. Berko should be the one “garroted” for calling Primerica a “pyramid-sales scheme.”

After 34 years of business, and undergoing the vetting required to offer an IPO on the New York Stock Exchange, I think someone, somewhere, with more credentials than Mr. Berko, would have figured that out.

Perhaps the business model is one that is unfamiliar to Mr. Berko, or perhaps he has some personal vendetta against the company, but his comments are down right libel.

I suggest Mr. Berko follow the examples of his colleagues at The Wall Street Journal, New York Times, USA Today, Smart Money Magazine, and several other credible publications (who, by the way, often speak favorably of Primerica) and do his research before so viciously and falsely attacking a perfectly good company. He should stick to the facts and leave his personal hostility out of his column.