Bankers Life

  www.bankerslife.com
  www.bankerslife.com

Bankers Life Reviews

Updated December 12, 2014
Updated December 12, 2014
374 Reviews
2.6
374 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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Scott Goldberg
3 Ratings

Review Highlights

Pros
  • Great training - Take advantage of all of it - do all of the self training as well (in 23 reviews)

  • Good training and (at least in our local office) a great office atmosphere (in 21 reviews)


Cons
  • 100% commission was tough in beginning - but you build your base (in 27 reviews)

  • You are an agent, not an employee; there are no benefits unless you become a manager (in 20 reviews)

More Highlights

Employee Reviews

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  1. 1 person found this helpful  

    Entry Level Sales Representative

    • Comp & Benefits
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Sales Representative
    Current Employee - Insurance Sales Representative

    I have been working at Bankers Life full-time (less than an year)

    Pros

    Learned lots about different products out there that are available to retirees. Get to be mentored by experienced agents who have had success. Company training for new agents and for agents that achieve their Successful New Agent requirements was valuable. Only two required office days which allows for flexible schedules. Friendly work environment.

    Cons

    You live or die by the phones. If you do not have sales experience then you will experience a learning curve, 100% commission can be an emotional roller coaster if you are not seasoned and consistent week in and week out.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Interesting

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bankers Life

    Pros

    Large company, nation wide, friendly co workers, good training

    Cons

    Tough to get bonus, no salary, commission, hard start up, misleading

    Recommends
    No opinion of CEO
  3.  

    AMAZING

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - National Recruiter
    Current Employee - National Recruiter

    I have been working at Bankers Life part-time (less than an year)

    Pros

    Flexible work hours, full autonomy, relaxed environment with clear cut expectations. No false pretenses.

    Cons

    Your bonus is based off of the commitment level of your potential candidates. Pushes you to increase your calls to ensure your bonus. Not a con just an additional driving force.

    Recommends
    Positive Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    "Secure place to work if you're looking for longevity"

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Underwriter in Chicago, IL
    Current Employee - Underwriter in Chicago, IL

    I have been working at Bankers Life full-time (more than 3 years)

    Pros

    It's a very secure place to work where you pretty much will get what you put in. While management may push for more out of you, your job is more or less secure and you're guaranteed an annual raise. If you want to rise up in the company, you can, just so long as you make management aware and put in the effort.

    Cons

    Because Bankers works with it's own team of agents, the struggle to keep agent's happy while maintaining the integrity of the portfolio is often difficult. Also, compensation is not up to par with competitors for starting salary, and you can only really get higher than industry average if you stay at Bankers for an extended period of time and accrue you annual bonus.

    Advice to ManagementAdvice

    Create a bit more competitive atmosphere as well as easier paths to promotions and management positions. Also, focus more on recruiting young, hungry employees looking to advance.

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Good learning experience.but fell short on the money.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Agent 1099 in Chicago, IL
    Current Employee - Insurance Agent 1099 in Chicago, IL

    I have been working at Bankers Life full-time (more than an year)

    Pros

    good training and some good people that were helpful. in the beginning there were fair leads provided. some good ongoing training as well. pretty good system for tracking sales and resources.

    Cons

    leads very rehashed and really not free...you. have to pay monthly fee for office. suppose to be your business, but you have to follow there rules and not flexible on how you can promote your business. not easy to make lots of money. most don't make more that 1500 a month. lots of time wasted driving around. tough underwriting and high cost compared to compitition. Chargeback can kill you.

    Advice to ManagementAdvice

    better job on leads....clean leads. spend more time on training for prospecting and marketing for success

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7. 2 people found this helpful  

    Is it a Bankers Life for me?

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Agent in Iron Mountain, MI
    Current Employee - Insurance Agent in Iron Mountain, MI

    I have been working at Bankers Life full-time (more than 3 years)

    Pros

    Huge earnings potential. Ability to offer many lines of business. Great starting point for people with no experience in the industry. Many great training programs. In 2013, ranked 52nd best company (and climbing) for training in the western world! The mobile app is great for doorknocking. You are reimbursed 125% for training that you pay for upon completion (CLTC, lutcf, etc.). Renewals can add up quickly in a few years!

    Cons

    Shrinking lead system. 100% commission can be very scary. People (clients) can be very finicky and resistant to change - even when change clearly benefits them. Some offices are much better than others in developing agents. You have to get good on the phone, no ifs ands or buts. If you aren't getting bonuses you are pretty much wasting your time. The 'agent care' help line can be contradictory with their advice. Very difficult if you are too introverted. The sales branch picks the types of leads that it purchases - often times it was garbage picked over internet leads from over a month ago. You are strictly prohibited from purchasing your own leads!!! Many hoops to jump through in order to stay compliant. You are almost exclusively a captive agent, there are some outside options for term policies, though. You are an agent, not an employee; there are no benefits unless you become a manager. Many, long days and miles needed to get your career off the ground.

    Advice to ManagementAdvice

    The future is coming and I'm not sure how you are going to bring on new people without adequate resources to get them off the ground, let alone sustain their careers. Top Gun is a great, great program (ABU too!). Congrats on investing in your people.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8. 2 people found this helpful  

    Simply Awesome! Fantastic training, uncapped salary potential.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Producer
    Current Employee - Insurance Producer

    I have been working at Bankers Life full-time (less than an year)

    Pros

    Sales training that is far and away better than any other company I have ever worked for.

    There is no limit to the amount of income you can make.

    Most of my 2 week pay cycles have been between $3000-$5500.

    Cons

    Booking via phone can be tough, but once you get the basic understanding, its not horrible.

    Occasionally have chargebacks on policies, but if you are consistently booking, they have little effect.

    Advice to ManagementAdvice

    Our branch management staff is very intelligent and are more concerned about the developdevelopment individuals that work within our office than the short term good of the company. My advice would be to have the company adopt the culture of our office.

    Recommends
    Positive Outlook
    Disapproves of CEO
  9.  

    Insurance Agent

    Former Employee - Insurance Sales Agent in Fresno, CA
    Former Employee - Insurance Sales Agent in Fresno, CA

    I worked at Bankers Life full-time (more than an year)

    Pros

    Earning potential is limitless.
    Flexible hours
    A chance to build your own business.
    Great support system.

    Cons

    Commissioned based income only
    Captive agency

    Advice to ManagementAdvice

    Give your agents more flexibility to work

  10.  

    Decent company with real life training in the field

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Field Trainer in Chicago, IL
    Former Employee - Field Trainer in Chicago, IL

    I worked at Bankers Life full-time (more than an year)

    Pros

    There is a fair amount of support. Good tools. leads provided.

    Cons

    you need to work beyond the leads or you will not make good consistent money. you have to pay month fees and E&O.
    no benefits. 100% commission

    Advice to ManagementAdvice

    spend more time training on the basics of sales and prospecting skills

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 1 person found this helpful  

    Field Trainer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Unit Field Trainer in Cleveland, OH
    Former Employee - Unit Field Trainer in Cleveland, OH

    I worked at Bankers Life full-time (more than an year)

    Pros

    Able to step in and help folks improve their situations to ensure they have the proper protection for the non-working years

    Cons

    100% commission was tough in beginning - but you build your base

    Advice to ManagementAdvice

    Well defined training program teaches you the basics and give you steps to follow in their sales process - straight forward

    Recommends
    Positive Outlook
    No opinion of CEO

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