Bankers Life Reviews

Updated March 18, 2015
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2.7
421 Reviews
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Bankers Life President Scott Goldberg
Scott Goldberg
23 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

    3 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. Excellent

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Branch Office Administrator in Syracuse, NY
    Current Employee - Branch Office Administrator in Syracuse, NY

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

    Pros

    I have worked for bankers for years and it has created financial stability and the opportunity for growth! I have seen many successful BONUSED agents who are diligent, hard working & show up every day with a zest for life succeed time and time again. The training this company offers is the BEST because they provide resources and valuable training courses that set you up for success.

    *Opportunity for Six Figure Income, with a deferred compensation option to provide commission after retirement
    *Globally-ranked training programs
    * Recognition Programs, including trips and incentives
    *Technology Support

    Cons

    Home Office could do better communicating changes.

    Advice to ManagementAdvice

    Some kind of enhanced compensation program for new agents is awesome! Keep it up! The incentives make those who are passionate feel rewarded. Phenomenal training program!

    Recommends
    Positive Outlook
    Approves of CEO
  3. 3 people found this helpful

    A Good Opportunity but All Work with Little Pay.

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

    I worked at Bankers Life as a contractor (more than a year)

    Pros

    Flexible work schedule, varied tasks, awesome prizes and trips, great people to work with, long standing company with good policies, and the ability to control your outcomes.

    Cons

    Commission only, long hours of work 6.5 days a week starting out, travel (2500+ miles every 2 weeks), ditzy home office staff, no benefits, and must meet quotas.

    Advice to ManagementAdvice

    Beta test software before putting it out for agents to use. And when putting it out, make sure it can actually be used on the technology agents have (e.g. Windows 8 home edition). Also, make sure home office staff are experienced in products and procedures BEFORE they are turned loose in the call center.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
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  5. 3 people found this helpful

    Be careful if you want an immediate income

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

    I worked at Bankers Life

    Pros

    Good training, Solid Company, GoodProducts

    Cons

    Little income in the beginning, takes an 80 hour wrok week to have any success in the beginnins. Mangers that are not truthful about the opportunity

    Advice to ManagementAdvice

    Get closer to your Branch Managers. Tell new agents that you need a lot of resources stashed away in the beginning. Don't sugar coat the opportunity

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6. 6 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
  7. 1 person found this helpful

    Great Career for the Right Person

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

    I have been working at Bankers Life full-time (more than 10 years)

    Pros

    Great Training. Supportive Management. Solid product line. Lots of opportunities to advance in either management or personal sales. Lots of perks and incentives for above-average performers. Schedule flexibility once established.

    Cons

    Long hours. Takes time to get established. Low pay for below-average performers. Requires discipline.

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

    Unit Field Trainer, CLTC, and Insurance Sales Representative

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

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

    Pros

    This company has been a blessing to my family, my clients, and myself. I have been able to assist my clients and their families put plans in place to protect their Long Term Care needs. Other than my 22-year military career, this career has provided me with great career satisfaction second to none.

    Cons

    100% commissioned career. Not a con for those of us who are willing to put the hours in, no different than any other career.

    Advice to ManagementAdvice

    Keep Moving Forward and increasing market share.

    Recommends
    Positive Outlook
  9. 1 person found this helpful

    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
  10. 5 people found this helpful

    Tough Sledding

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Field Sales Agent in New York, NY
    Former Employee - Field Sales Agent in New York, NY

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

    Pros

    Opportunity is certainly there for those who want to hustle. And when I say that plan on working 6 days a week because the only way to make sizeable commissions is to call people who are currently working. I also found that the other agents were helpful in pointing the newer agents in the right direction.

    Cons

    Bankers claims to be targeting and serving the middle class but the reality is that nearly all the appointments I went on were folks just scraping by each month. The goal is noble but the problem is that when funds become tight, which they inevitably do, the policies do not stay enforce. I would say that over the course of the 7 months that I was employed by Bankers nearly 70% of the policies I sold ended up being charged back. The result was that I made no money.

    Advice to ManagementAdvice

    My advice to management is to give the new agents better training and more support. To be a rookie, on the job for only 3 months and already training new agents in the field is a reflection of poor management or a weak business model.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 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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