Bankers Life Reviews

Updated July 3, 2015
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Bankers Life President Scott Goldberg
Scott Goldberg
57 Ratings

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

  • Good training system along with good people (in 21 reviews)

Cons
  • This is 100% commission so it's a lot of work to put into (in 27 reviews)

  • There are no benefits to working here (in 20 reviews)

More Pros and Cons

416 Employee Reviews

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  1. Featured Review

    Helpful (13)

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

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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. Changed my life

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

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

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

    Pros

    I have represented Banker's Life for 20 years. I have been able to provide for my family at a level I never anticipated. I have freedom to run my own business as an independent contractor and can set my own schedule. My wife and I have been to numerous conventions and company incentive trips and have been able to see much of the world. The bonus program the company has in place rewards hard work and keeps me motivated. I have access to top service people at the Home Office to help handle my many clients needs. I love working with my clients and educating them on their retirement choices. It would be difficult to earn this income in almost any other field. I plan on continuing with Banker's until my retirement.

    Cons

    Starting out can be hard as the business is commission based. Eventually agents have renewals which can stay in place to provide stability. Hard work is needed in the early stages of a career to make it work.

    Advice to Management

    Continued support of the agent force is appreciated.


  3. Helpful (5)

    Learning Experience

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

    I have been working at Bankers Life (Less than a year)

    Positive Outlook
    Approves of CEO
    Positive Outlook
    Approves of CEO

    Pros

    I appreciate the support I receive from my trainers, managers, colleagues, and home office. The presentation materials are good, and the products are solid.

    Cons

    I learned real quick that I do not like cold calling; unfortunately, in your first few months, that is your primary method of prospecting. The company doesn't advertise, so it is hard to get in front of people. IT is slow to respond to technical issues, that have cost me a sale or two.

    Advice to Management

    I knew what I was getting into when I signed on; that being said, newly contracted agents do need to eat and pay bills when they're doing their training.


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  5. Helpful (3)

    I am a success story!

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

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

    Positive Outlook
    Approves of CEO
    Positive Outlook
    Approves of CEO

    Pros

    I get paid to help change people's lives. Although you have to put in the time, it is flexible enough to work around having a young child and all that comes with that. The company provided training to help get started is fantastic, best in the industry. They give you the basics you need to get started and even give you a trainer that is willing to give up half of their commissions (and any renewals resulting from your training for the rest of their careers). I have been here long enough (3 years) to finally be able to say with confidence that I will be successful for the rest of my life thanks to my career with Bankers, and I plan on staying with them the rest of my career!

    Cons

    The first year is very difficult, it requires a lot of effort put into your own training as well as great effort to develop your client base. The second year is a little less difficult because you finally REALLY know what you are doing. This difficulty I am sure is industry-wide. Most new agents will not make it because they are so conditioned to do the minimum required to get a paycheck, they do not put in the effort required to become successful. This career is not for the lazy!

    Advice to Management

    I would weed out the ones that are not going to make it before sending them to NAS; give them two weeks in the field observing a trainer minimum before sending them off. NAS will make much more sense after being in the field and not have the new agent's head spinning with information.


  6. Helpful (1)

    Perfect way to build your own business helping others!

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

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

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

    Pros

    I am part of the Fishkill, NY office where the environment stresses teamwork to achieve personal goals. There are so many pros to this opportunity, it is hard to list. We assist people with their planning, which means every family we meet is in a better place once they've met us. Once your career is established, the schedule is flexible which allows for better quality family time. The earnings potential is unlimited, and you really get out what you put in. The training is absolutely fantastic. It's a career in which you must always be learning and evolving, and Bankers Life provides all of the resources needed. This year we were ranked #51 in the world for training! There are opportunities to move into a variety of roles including leadership and financial advising. The best part is the people. Both clients and coworkers make this career wonderful. One last element is the very strong connection to the communities in which we live. Bankers is a huge supporter of the Alzheimer's Association, for which agents donate our time to raise funds annually. We also work within our own communities to be a resource for neighbors to turn to for help with all of their retirement needs.

    Cons

    Some of the downsides of this type of career are actually part of the upside. As a commission only position, the income can be great. It is also inconsistent, which means planning is important. Also, the flexibility and independence means that self discipline and responsibility are critical attributes for candidates to succeed. Again, you get out what you put in!

    Advice to Management

    The management at Bankers is good. The advice is simply to continue to stay connected to the agents and their successes and struggles. So far, this is done very well by the leadership in the company, and it is one of the reasons this is such a great opportunity.


  7. Helpful (3)

    Great place to work!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Office Administrator in Atlanta, GA
    Former Employee - Branch Office Administrator in Atlanta, GA

    I worked at Bankers Life

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Flexibility
    Good compensation
    Good benefits
    Team/family mentality
    Potential for career growth, especially if willing to relocate
    Work hard Play hard

    Cons

    No remote work options for certain positions
    Some departments understaffed
    Stronger work/life balance initiative needed


  8. Marketing associate

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

    I worked at Bankers Life

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

    Pros

    Great place to work. Provided excellent training.

    Cons

    Very political and cliques were common among staff.

    Advice to Management

    Management was hit or miss.


  9. Helpful (1)

    Cut Throat

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

    I worked at Bankers Life

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Great training with good product mix. Goals and bonuses are great. Long standing company.

    Cons

    Management can be cruel and have no feelings. All about the money. Lot of time and effort with no real advancement. Like to tell you there is opportunity but there wasn't.

    Advice to Management

    Have real goals and be more honest of intentions. Don't throw up new agents and expect the field managers to make something that is not ever going to happen.


  10. Great people, ethically and monetarily troubling

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

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

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Great people, great training, skills will definitely grow in interpersonal communication, understanding sales pitch cycles, being your own boss and marketer. Lots of pros about it! You don't get what you put in right away, but I do agree that if you can last you will come out doing well and having a good financial life after five years. Trainers help you out a lot in the beginning, drive you to the locations, show you how its done, etc.

    Cons

    Agent heavy market where there is a lot of overlap. You are a captive agent so when they say you're helping people its in a limited definition. You look and feel like a jerk when that new client you got that loves you and you enjoy him calls to cancel his appointment because he found the same policy for $50/MONTH less. When new agents leave the company those clients become orphans and are just left to fend for themselves, no followup. Security at offices of a ton of Personal and private information is not the best. Someone disgruntled could do some real damage. Lots of wear and tear on your car, plus gas, to get to an unsaturated location (hour+ drive).

    Advice to Management

    The biggest reason people drop is either because different expecations were set up front and then not delivered (aka average salary of a new agent is like 15,000 below described for the first year) or senior agents drop the training of new agents after 3 months (when their kickback also drops off) and its a sink or swim all the sudden. More training on product comparison would be beneficial.


  11. Good training, bad job

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

    I worked at Bankers Life

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

    Pros

    Exceptional Sales training. Not much else though.

    Cons

    Everyone in the office cold calls off the same lists, leading to lots of call overlap and causing the peoplength you call to be very upset.
    Starting out, you only make half commissions until you can do appointments on your own, whixh takes a long time.

    Advice to Management

    Organise leads better to minimize overlap.



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