Bankers Life Reviews

Updated April 19, 2015
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2.8
442 Reviews
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Recommend to a friend
Approve of CEO
Bankers Life President Scott Goldberg
Scott Goldberg
34 Ratings

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 Pros and Cons

Employee Reviews

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  1. Featured Review

    Helpful (4)

    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

    Positive Outlook
    Positive Outlook

    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.

  2. Great structure, comfortable place to work.

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

    I have been working at Bankers Life as a contractor (more than a year)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    The atmosphere is easy to work in, very comfortable place to be employed.

    Cons

    The work can be tedious and seemingly never ending towards a goal that will never come.

    Advice to Management

    Could use more feedback on performance but overall everyone in my experience has been a pleasure to work with.

  3. Great opportunity for those with drive and determination

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

    I have been working at Bankers Life full-time

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Awesome training, support, incentives and culture coupled with helping people in the community

    Cons

    A little more support for 6 month- 2 year tenured agents.

    Advice to Management

    Hold agents accountable for their goals.

  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Over 8 years working for Bankers and it is very rewarding all around

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor in Toms River, NJ
    Current Employee - Financial Advisor in Toms River, NJ

    I have been working at Bankers Life full-time (more than 8 years)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Helping clients approach and navigate their retirement is very fulfilling for me. Most people in this market require the ongoing guidance that a well rounded advisor/agent can and should deliver. The support and respect in my branch is solid and I enjoy the control I have over my career and compensation.

    Cons

    Starting this career is the most difficult aspect due to the compensation structure (Commission). You are in fact building a business for the first year or so but, once you develop the skills required for the job and have a client base to work with it becomes easier and more rewarding.

    Advice to Management

    Each advisor/agent requires a different level of support. Keep sharing best practices, don't become complacent, learn from each other, and adapt accordingly to the market and your agents careers.

  6. Insurance Agent

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

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

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    Great atmosphere to work in. Everyone is high energy and willing to help you.

    Cons

    Leads are hit or miss. This is not a job for just anyone.

    Advice to Management

    Give people more than 3 months to prove their worth

  7. Helpful (3)

    Great foundation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Sales Agent in Sarasota, FL
    Former Employee - Insurance Sales Agent in Sarasota, FL

    I worked at Bankers Life full-time (less than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Awesome training, very knowledgeable coworkers, great leadership, excellent opportunities

    Cons

    on your own, cold calling out of a phone book basically.

    Advice to Management

    none

  8. Helpful (1)

    "Awesome opportunity and loads of support"

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

    I have been working at Bankers Life full-time (more than 5 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The Melbourne office is a great mix of seasoned, veteran agents; sophomore agents still learning and new agents just getting their feet wet. All share the same opportunities and all are very supportive of one another. The company provides extensive training in the form of weekly training sessions in the branch; online training on an ongoing basis and training seminars as the new agent progresses. Banker's Life really invests a lot of time, energy and money in making sure that their agents become successful, productive agents doing the right thing for their client every time. The company also provides leads for their agents at no cost.... Certainly not something every insurance company does without charge.

    Cons

    The remuneration is commission based only. The sky's the limit on how much you can earn but working on commission requires discipline and dedication; long hours and frustration but the rewards are amazing. Medical benefits and 401k, etc. are based on production so that is also commission based as it is only offered to those who are producing results.

    Advice to Management

    I am very impressed with Banker's Life and it's focus on making sure their agents are well trained and informed. Banker's makes sure their agents focus on doing the right thing for their clients every time. I've really enjoyed working for Banker's and plan on continuing to do so. Great company to work for!!

  9. Excellent company with great support structure and overall decent compensation plan.

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

    I have been working at Bankers Life full-time (more than 8 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    You are self-employed with the support of a nationally recognized company. As a Bankers Life agent, you're partnering with a company rather than being an employee. The lead system, deferred compensation, and rewards trips are things you do not get as an independent insurance broker.

    Cons

    As a field manager, you have to be an agent and a manager at the same time. It takes years in management building a team until this is profitable.

  10. If you want to make money, work for it.

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

    I have been working at Bankers Life

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    I made more in my first year at Bankers on 100% commissions than I did in any of my 7 years at my accounting job which I had a 4 year college degree in. I never get an income reduction unless I choose to work less. Today, you can get leads from more places than when I started. There are more than one career path options at Bankers. Bankers has paid to send me to: Bahamas (twice), Jamaica (three times), Cancun (twice), Rome, Paris, a Mediterranean 10 day cruise, San Fransisco, Sonoma, Palm Springs, Hawaii (twice), and the Dominican Republic. These things didn't happen because I did things my way. I have done what I was taught for several years now, and these are some of the results.

    Cons

    If you can't talk to people already, this might not be for you. Don't start this job if you have no money in reserve. Learn to use what money you have wisely first. If you don't like to work, this job won't work for you. If you can't do things for yourself, this job won't do them either.

    Advice to Management

    The UFT position should get more commission. Management should continue to listen to its sales force.

  11. It takes time to build clientele and up your salary.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Insurance Sales Agent in Austin, TX
    Current Contractor - Insurance Sales Agent in Austin, TX

    I have been working at Bankers Life as a contractor (less than a year)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Great training! Great people! Great potential!

    Cons

    Slow start. A little costly to get started and the State License takes a while to clear.

    Advice to Management

    Keep doing your thing!

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