Bankers Life Reviews

Updated July 3, 2015
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416 Employee Reviews

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  1. Helpful (1)

    Insurance Agent

    • Career Opportunities
    • Senior Management
    Former Employee - Insurance Agent in Parsippany, NJ
    Former Employee - Insurance Agent in Parsippany, NJ

    I worked at Bankers Life full-time

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    You are able to get a license to sell insurance and training.

    Cons

    Lied to by the Dept. Mangers.
    No money...
    Bad leads.
    I sucks the life out of you emotionally and financially.

    Advice to Management

    Stop lying and tell the truth.


  2. Helpful (3)

    Excellent Training Company for new L&H sales people

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Field Sales Representative in Somerset, NJ
    Former Employee - Field Sales Representative in Somerset, NJ

    I worked at Bankers Life full-time (More than 8 years)

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

    Pros

    You'll learn what they need you to know to get in front of prospects. Initial training is classroom, then you are paired with a training employee to run the appointments you have made. You split the commission on issued business. Management is geared to generating new employees, as turnover is very high. Lead program has slipped to paid for reworked leads. If you have a passion for sales and the Senior market, you can succeed BUT you will have to educate yourself beyond what Bankers provides to become a pro.

    Cons

    Cold call and door knocks are the norm. Responder leads are "Earned" and often recycled. Management is smug when you seek assistance or have legitimate questions beyond the sales pitch. You need some significant financial reserves as you will be slow to achieve competency and you are footing all the expenses.

    Advice to Management

    Nurture rather than torture your employees. Rather than bring on people not fitted with the skills to succeed in your business model and than make them feel it is their fault for not succeeding, be more discerning and honest with candidates. I was successful for 5 of my eight years so this is not sour grapes.


  3. Good ol Bankers

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

    I worked at Bankers Life

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

    Pros

    Training is great. They have excellent products. They are lacking on strong management. Newer guys but they are slowly learning .

    Cons

    None. Corporate is slowly trying upper management


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  5. Helpful (3)

    Glorified Telemarketer?

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Insurance Producer in Minneapolis, MN
    Current Employee - Insurance Producer in Minneapolis, MN

    I have been working at Bankers Life

    Doesn't Recommend
    Doesn't Recommend

    Pros

    I have just begun with Bankers Life and my first day's expectation was to call 500 people and not leave the office until I had! The team seems supportive however they hover behind you listening to your calls to critique them and are shouting out numbers of dials and appointments set throughout the day. Very unnerving.

    Cons

    Completely commission based, so while I spent over 8 hours unpaid "telemarketing" I had the panic of knowing that I wasn't being paid for it. Meanwhile the expectation was to be in business dress while you were sitting in a 2X2 cubby with no windows.

    Advice to Management

    I think that you could have successful salaried employees who would reduce the churn of people quitting in the first months to help them ramp up.


  6. Helpful (2)

    Great if you like cold calling full time for free

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

    I worked at Bankers Life full-time

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Great place to work for no pay (commission only), so it's a really great place to work if you have enough money to support yourself and your family for at least 2 months because that's how long it will take for you to get paid (took me longer).

    Cons

    Manager glossed over the costs of the job (sorry, "carrer" as they kept saying). It ended up costing me over $400 to start this process with all of the training, testing and fingerprinting and I didn't see a dime for over a month. Actually, I take that back because they deposited $0.01 in my account for direct deposit, so there's that. I ended up spending 40 + hours per week for almost two months there almost exclusively making cold calls. I'd also never been in a sales environment before and quickly learned that this was more of a cutthroat environment even though they said it wasn't. After I quit, they wrote me out of a policy that was supposed to recoup some of my losses, so naturally I was pretty upset. Everyone seemed nice at first, but when I first went into the "interview," the person running it talked about how much money you can make, showed us the bonus structure, pictures of employees at conventions at tropical resorts and that the sky is the limit but I had kind of an uneasy feeling about the job. I should have listened to my gut and walked away, but I didn't and it was a terrible waste of time and money. I should have researched and read the reviews online, but I didn't and figured I'd give it a shot (at least for a learning experience). Now I have an insurance license that I'll never use and the FBI has my fingerprints.

    Advice to Management

    Break down the costs in the "interview" and that you probably won't get paid anything for a few months, but then I guess you won't lurer people in to help get more money in your pocket.


  7. Helpful (1)

    Lack of Leads

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

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

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

    Pros

    Great training program (Takes a Few Months) and they give you a lot of training in the first few months to succeed.

    Cons

    They are not a well known company so customers are hesitant to do business with you. They also do not give you enough leads to make calls.


  8. Helpful (4)

    Truly Disappointed, Lies, Lies, negativity, and more lies. . . .

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Licensed Sales Professional in Birmingham, MI
    Former Employee - Licensed Sales Professional in Birmingham, MI

    I worked at Bankers Life (Less than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    None. Everything from the beginning "interview" is a lie. They just want bodies to fill their call centers. Your performance and well being as a human being means NOTHING to them. You can work there 60+hours a week and make nothing.

    Cons

    Everything!!! They use leads that are 3+ years old. Only give out "new" leads to "successful" agents, 0% support from veteran agents who are supposed to help you. Extremely negative atmosphere to work in. You can bust your tail all day long and management will still tell you you're an awful person for not doing enough. I can't even begin to describe how horrible this company is to work for. Stay away at all costs!!!!!!

    Advice to Management

    Stop lying to prospective employees. Stop using 3+ year old leads, stop with the "power hours" between hours of cold calling to beat up on employees and call it "motivational training." I have never been so insulted as a human being as I have while working for this company. Nothing but disgust for this company.


  9. Helpful (1)

    Insurance Agent

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

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

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Great training. Very ethical company. Tremendous earning potential. Started earning money very early into my training was a big plus for a 100% commissioned position. If you follow the training, you will make a good living. Residuals help your income grow every year. If you work hard you will make money. Your income will be directly proportional to the effort you put in.

    Cons

    Being 100% commission, if you take a vacation you don't get any income (except on residuals).

    Advice to Management

    Keep up the training. Tell potential recruits that they can make a lot of money but they have to work hard to achieve results


  10. great company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Territory Operations in Glen Ellyn, IL
    Former Employee - Territory Operations in Glen Ellyn, IL

    I worked at Bankers Life (Less than a year)

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    great pay, team environment, flexible schedule. Wonderful travel benefits.

    Cons

    Main office location in heart of city, lots of traffic


  11. Helpful (3)

    Bankers

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Sales Representative in Sherwood, AR
    Former Employee - Insurance Sales Representative in Sherwood, AR

    I worked at Bankers Life (Less than a year)

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

    Pros

    A job in the industry.

    Cons

    Lacking true transparency or benefits package.

    Advice to Management

    Be more upfront about benefits and the lack of a real partnership. There is clearly an employee/boss relationship.



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