Bankers Life

www.bankerslife.com
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Bankers Life Reviews

Updated February 27, 2015
Updated February 27, 2015
414 Reviews
2.6
414 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Bankers Life President Scott Goldberg
Scott Goldberg
21 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. Featured Review

    2 people found this helpful  

    Awesome opportunity if you want to work hard to build your own business.

    • 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

    Excellent training with a solid product line . Helping folks on a daily basis to protect themselves from the uncertainties of life.

    Cons

    100% commissioned career . You get out of it exactly what you put in to it.

    Positive Outlook
  2. 4 people found this helpful  

    Excellent Company to work for! :)

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Sales Agent in Evansville, IN
    Current Employee - Insurance Sales Agent in Evansville, IN

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

    Pros

    One of the top training companies in the world, High commissions, Great business model, Focused on helping people with needs based analysis, Unlimited earning potential, etc I've been working here for 3 years and I love it!!

    Cons

    It can be the toughest 30K per year job or the easiest 6 figure per year career. You have to dedicate yourself and learn the business. We have many people in our office making 100K+ per year, but they certainly work hard for it. One 28 year old gentleman cleared over $470K last year, but he's an EXTREMELY hard worker. It is what you make it. If you're not a hard worker than don't waste your time, but if you love helping people and protecting families its a very rewarding career.

    Advice to ManagementAdvice

    Some kind of enhanced compensation program for new agents would be nice. Phenomenal training program though.

    Recommends
    Positive Outlook
    Approves of CEO
  3. 1 person found this helpful  

    Hard work is greatly rewarded

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Unit Field Trainer in Scarborough, ME
    Current Employee - Unit Field Trainer in Scarborough, ME

    I have been working at Bankers Life

    Pros

    Great compensation and bonus plan

    Cons

    Long hours and a lot of driving

    Recommends
    Positive Outlook
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  5. 2 people found this helpful  

    Lots of opportunities to grow

    • 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 full-time (more than a year)

    Pros

    I've seen huge potential to grow here. No micromanaging; a lot of freedom to work independently while still feeling the support of our field agents and managers, and other departments at home office. My coworkers are my friends, and my supervisors always have my back.

    Cons

    Working in such a highly regulated industry at a conservative-leaning company can present challenges and struggles.

    Advice to ManagementAdvice

    Focus more on long-term strategies rather than short-term fixes.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Bankers Review

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

    I have been working at Bankers Life

    Pros

    Great Potential Great Potential Great potential Great potential Great potential Great potential

    Cons

    Cold Calling cold Calling cold calling Cold calling cold calling Cold Calling

    Advice to ManagementAdvice

    Dont Partner new Employees with Bad performing Veterans

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    For the Life of Your Career

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

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

    Pros

    It's hard a find another financial services company that is this focused on serving middle America. Everyday I'm reminded of the importance of serving our customers, who often have few other options for getting advice. Management is results-driven, but also caring, with a great history of nurturing professional development. Decision-making is straight-forward - not political, the company values are broadly shared, and the strategy and vision are very compelling.

    Cons

    It's a company on the verge of reaching the Fortune 500 and is rapidly investing to build new, modern infrastructure and processes. So, you have to be ready for constant change.

    Advice to ManagementAdvice

    Keep focused on the middle market - it's what makes Bankers Life stand apart.

    Recommends
    Positive Outlook
    Approves of CEO
  8. 1 person found this helpful  

    Great place to work

    • 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

    Fantastic work environment. The people are generally happy and friendly. Great location. Strive for employees to be healthy.

    Cons

    The office is not the most up-to-date. It's in a high rise, so there are very few windows that most employees can see out of.

    Recommends
    Positive Outlook
    Approves of CEO
  9. 2 people found this helpful  

    You need a business loan to make it in this job

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

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

    Pros

    The managers are always available.
    The training goes beyond any other private company I have seen.
    If you can survive 545 days with minimum pay at long intervals, then I have been told this is a great place to work.
    They do not force you to come in during blizzards.

    Cons

    *You are commissioned based from the start. This includes the 1 week of training you are forced to take with no opportunity to make a commission.
    *You book all of your own appointments with no assistance from veteran agents.
    *Veteran agents go with you on the appointments and you split your commission with him / her. That person then gains the person you spent hours to make a sale with as a client.
    *Much of your work is to feed the veteran agents.
    *Unless you have an existing customer base, or a strong presence in the community, you will go hungry, you will go on welfare, and you will wonder why you're working 40+ hours and are on welfare.
    *If you don't succeed in 90 days, they treat it as though it is all your fault for not being 'out there more.'
    *You have to be a machine and put any consideration for your elders aside in order to book appointments.

    Advice to ManagementAdvice

    *Compensation should be given to new agents. We cannot earn money for the week that we are in training, so pay us for it. Maybe you could use some of the money for trips and events to pay new agents so that we can focus more on providing a superior level of customer service and not how hungry we are or on the verge of bankruptcy?

    *Allow us to split commissions with senior agents on his / her own appointments. They cut our meager pay in half, it's only fair that they should be made to split their commissions with us on their own appointments. Watching more closings is a valuable training tool and could give me more incentive to stay.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Ok start if you want to get into the Insurance Industry

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Austin, TX
    Former Employee - Anonymous Employee in Austin, TX

    I worked at Bankers Life (less than a year)

    Pros

    Training was very good and they pay for your first insurance license test. Trainer's were very good and nice. They let you ride along with them in the beginning to learn how to sell the product to a potential client. I use some of the strategies I learned here where I'm at today.

    Cons

    Cold-calling long lists over and over which aggravated people that told you no. You have to make at least 300 calls and set at least 4 appointments, no matter the quality, to please management otherwise you will lose your contract. The leads are non-existent when you start and when you start to receive them they are not very good. You cannot work at your own pace. They tell you you're building your own business but you have to do whatever they say. It's also Commission Only so there is no base pay to help you keep yourself off the ground.

  11. 1 person found this helpful  

    Beware chicago area

    • 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

    Great bonding with agents who want to run an honest business Outside Chicago.

    Cons

    Most agents and managers will stab you vs help you. Only use competion as a model to motivate, pay 1099 treat you like a w2.

    Advice to ManagementAdvice

    Replace

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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