Bankers Life

www.bankerslife.com

Bankers Life Reviews

Updated January 24, 2015
Updated January 24, 2015
390 Reviews
2.5
390 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Bankers Life President Scott Goldberg
Scott Goldberg
8 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

Sort: Popular Rating Date
  1. 3 people found this helpful  

    Questionable ethics and poor training.

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

    I worked at Bankers Life

    Pros

    Flexible hours potential to make money if you don't mind being pushy and rude with elderly people.

    Cons

    Required use of personal cell phones when the office phone wouldn't allow you to call, little to no training on expected dialog, and little to no regards for the people that were being dealt with everything seemed to be about the bottom line no questions asked.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 8 people found this helpful  

    How Does One Company Suck So Bad?

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

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

    Pros

    Can't think of a single thing. This has got to be the most useless place ever created for an insurance agent to work.

    Cons

    COLD LEADS!! COLD LEADS!!! COLD LEADS!!!! Regardless of what they tell you in the interview, you are going to start out with a pile of dead, useless leads that have been picked over dozens of times. You will be calling 8-10 hours a day 2 times a week and spend the rest of your time door knocking.

    The training is rammed through so fast you don't get a chance to digest anything. Most of the training focuses on how to call the cold leads I already mentioned or how to knock on people's doors and beg for appointments.

    YOU have to pay for a bunch of stuff. You need your own smartphone, tablet or computer to carry with you for work. You have to buy THEIR GPS program called Streets & Trips. YOU have to pay for stamps and envelops to send out mailers. Plan on spending several hundred dollars in order to work for them.

    When calling your cold, dead leads, you have to call in to Bankers' phone system so they can track the # of calls you make each day. That would be fine but when you enter your personal "PIN" number, the system displays YOUR personal phone number on the clients' caller ID's. You will be getting calls at all times of the day and night from people you don't know on your personal phone because you called them earlier in the day through Bankers' phone system.

    Managers and Trainers will do everything in their power to screw you out of commissions while you are training. I lost the only two potential sales I've had in two weeks because I was cheated out of them. YOU WILL GET SCREWED OUT OF YOUR COMMISSIONS!

    Advice to ManagementAdvice

    Try offering new agents a base salary while they are starting out and learning the ropes. You might get a better quality of potential agents that way. Quit letting Managers and Trainers screw over the people they're supposed to be helping. Be realistic about where employees will start out (cold leads) during interviews. Don't be so cheap and pay for envelops and postage for lead mailers. QUIT LYING to potential new hires. Don't teach one thing and do something completely different. Your ethics suck.

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

    Horrible horrible horrible

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Agent 1099 in New Bern, NC
    Former Employee - Insurance Agent 1099 in New Bern, NC

    I worked at Bankers Life full-time (more than an year)

    Pros

    I did meet some incredible people while working here (potential clients). Would be ok for someone who had time to build a clientele... Retired etc.

    Cons

    This is a horrible place to work. Everyone is fighting over leads and agents are very cut throat. Be prepared to starve while working here. There was little training and everyone was out for themselves. Once you quit.... Agents rewrite your business so that you get charge backs.

    Advice to ManagementAdvice

    Be more helpful to new agents.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5.  

    100% commission

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

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

    Pros

    If you're really good at selling than you can potentially make good money.

    Cons

    no base salary. You don't sell you don't get a penny

    Advice to ManagementAdvice

    Serious sales candidates won't work for 100% commission

    Doesn't Recommend
    No opinion of CEO
  6.  

    Awful

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

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

    Pros

    There isn't a single positive thing to say except I know what not to look for in my next job

    Cons

    The "Leads" you get you pay for after the call center @ colonial penn in PA has dialed through them.
    Management gets a large override during your first few months so that's why they churn and burn.
    This is the worse insurance company to possible work for.

    Advice to ManagementAdvice

    Stop treating people like cattle and actually invest into helping them succeed. Way to top heavy and corporate nor the high ups in the field want it to change.

  7. 2 people found this helpful  

    Run as fast as you can

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

    I worked at Bankers Life (less than an year)

    Pros

    None zero zip nada zilch

    Cons

    They prey on the unemployed by mining CalJobs (and probably other government and independent websites) claiming their "manager found your resume online and you'll be perfect for this role". The role is an independent commission based sales position, I have zero experience in sales. The person on the phone seemed offended I wasn't interested since I'm not working at this time.

    They are obviously reading from a script, using my name multiple times and getting flustered when I asked a question out of order.

    Advice to ManagementAdvice

    If you want to hire people to shill your product be forthcoming about what type of business this is.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 2 people found this helpful  

    Highest Turnover of Sales Staff ---ever seen

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

    I worked at Bankers Life full-time (more than an year)

    Pros

    Intro training to insurance products

    Cons

    Leads are recycled --- same folks in office continually call people, thinking that they have a new lead --- only to be told that "at least 5 people" from your office have called me in the last 2 weeks.

    Advice to ManagementAdvice

    Do not lie to sales staff. --- There is as much as a 75% turnover in sales people (Philadelphia office) in a given year,
    Throughout the interview, if you ask this question of turnover, they skirt it by indicating some do very well and some don not but will never give an actual statistic. I know this personally.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 3 people found this helpful  

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

    Pros

    They had a good sales program. Take the training if you don't know how to sell, and then get out.

    Cons

    The job itself is a con. In the several months that I worked there, I essentially paid to work there. Between paying for gas, leads, taxes, and chargebacks, I went into debt working for this company even though I was one of the top producers. Even if you move into management, it's not worth it. After you leave the company they'll come up with all of this money you owe them, so be ready for collections calls.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 2 people found this helpful  

    Good Luck

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

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

    Pros

    Only in the office for 2 days per week. A lot of autonomy in working the hours you want. ability for unlimited income if you're a sales superstar.

    Cons

    Products are not competitive. Life insurance and long term care products won't pay out on claims submitted by policy holders. 100% commission based= you won't get paid for weeks into your job. Leads are all recycled and you often split your commissions with others. Commissions are not payed straight forward. Always have to double check payroll to match what you actually get paid matches the commission statement. immoral sales techniques that target vulnerable senior population.

    Advice to ManagementAdvice

    Pay a base salary to really develop a moral, motivated, and ethical sales team.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 3 people found this helpful  

    Not worth it!

    • 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 (less than an year)

    Pros

    Friendly people, and great office manager.

    Cons

    Cold calls to people that have been called a million times. Co workers steal clients from you. Just when you think you are getting ahead you get a charge back. They take money out of your commission.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

Work at Bankers Life? Share Your Experiences

Bankers Life

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.