Bankers Life

www.bankerslife.com
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  1. 4 people found this helpful  

    Very professional, driven company.

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

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

    Pros

    Excellent training, time off if requested is almost always granted, excellent bonus programs.

    Cons

    Pay is all commission based, very hard to build clientele because having agents contact all the same leads and agents are tripping over each others clients. Management wants you to work 12 to 13 hours a day 6 days a week, regardless if sales are made at all. There is no HR Dept so managers can talk to to employees any way they feel fit and there is no consequence for bad behavior. Training for people with no experience was way too short, and a lot of charge backs which put you in a hole financially.

    Advice to ManagementAdvice

    Nice if there was a base pay involved so when sales are not made during a week employee has money to offset food and fuel costs because agent is out all day working meeting clients.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 3 people found this helpful  

    Could be a whole lot better if their were better management.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Insurance Agent in Egg Harbor Township, NJ
    Former Contractor - Insurance Agent in Egg Harbor Township, NJ

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

    Pros

    Commission is good as long as you get good leads in a good area to be able to sell the product.

    Cons

    Recycled leads, all the agents end up having the same leads, internet (good) leads are given to "favorite" agents, poor management skills.

    Advice to ManagementAdvice

    Get better management ASAP.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3. 4 people found this helpful  

    Good learning experience.but fell short on the money.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Agent 1099 in Chicago, IL
    Current Employee - Insurance Agent 1099 in Chicago, IL

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

    Pros

    good training and some good people that were helpful. in the beginning there were fair leads provided. some good ongoing training as well. pretty good system for tracking sales and resources.

    Cons

    leads very rehashed and really not free...you. have to pay monthly fee for office. suppose to be your business, but you have to follow there rules and not flexible on how you can promote your business. not easy to make lots of money. most don't make more that 1500 a month. lots of time wasted driving around. tough underwriting and high cost compared to compitition. Chargeback can kill you.

    Advice to ManagementAdvice

    better job on leads....clean leads. spend more time on training for prospecting and marketing for success

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 4 people found this helpful  

    Is it a Bankers Life for me?

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

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

    Pros

    Huge earnings potential. Ability to offer many lines of business. Great starting point for people with no experience in the industry. Many great training programs. In 2013, ranked 52nd best company (and climbing) for training in the western world! The mobile app is great for doorknocking. You are reimbursed 125% for training that you pay for upon completion (CLTC, lutcf, etc.). Renewals can add up quickly in a few years!

    Cons

    Shrinking lead system. 100% commission can be very scary. People (clients) can be very finicky and resistant to change - even when change clearly benefits them. Some offices are much better than others in developing agents. You have to get good on the phone, no ifs ands or buts. If you aren't getting bonuses you are pretty much wasting your time. The 'agent care' help line can be contradictory with their advice. Very difficult if you are too introverted. The sales branch picks the types of leads that it purchases - often times it was garbage picked over internet leads from over a month ago. You are strictly prohibited from purchasing your own leads!!! Many hoops to jump through in order to stay compliant. You are almost exclusively a captive agent, there are some outside options for term policies, though. You are an agent, not an employee; there are no benefits unless you become a manager. Many, long days and miles needed to get your career off the ground.

    Advice to ManagementAdvice

    The future is coming and I'm not sure how you are going to bring on new people without adequate resources to get them off the ground, let alone sustain their careers. Top Gun is a great, great program (ABU too!). Congrats on investing in your people.

    Recommends
    Neutral Outlook
    No opinion of CEO
  6. 4 people found this helpful  

    "Secure place to work if you're looking for longevity"

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

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

    Pros

    It's a very secure place to work where you pretty much will get what you put in. While management may push for more out of you, your job is more or less secure and you're guaranteed an annual raise. If you want to rise up in the company, you can, just so long as you make management aware and put in the effort.

    Cons

    Because Bankers works with it's own team of agents, the struggle to keep agent's happy while maintaining the integrity of the portfolio is often difficult. Also, compensation is not up to par with competitors for starting salary, and you can only really get higher than industry average if you stay at Bankers for an extended period of time and accrue you annual bonus.

    Advice to ManagementAdvice

    Create a bit more competitive atmosphere as well as easier paths to promotions and management positions. Also, focus more on recruiting young, hungry employees looking to advance.

    Recommends
    Neutral Outlook
    Approves of CEO
  7. 1 person found this helpful  

    AMAZING

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

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

    Pros

    Flexible work hours, full autonomy, relaxed environment with clear cut expectations. No false pretenses.

    Cons

    Your bonus is based off of the commitment level of your potential candidates. Pushes you to increase your calls to ensure your bonus. Not a con just an additional driving force.

    Recommends
    Positive Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Interesting

    • 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

    Large company, nation wide, friendly co workers, good training

    Cons

    Tough to get bonus, no salary, commission, hard start up, misleading

    Recommends
    No opinion of CEO
  9. 3 people found this helpful  

    Decent company with real life training in the field

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

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

    Pros

    There is a fair amount of support. Good tools. leads provided.

    Cons

    you need to work beyond the leads or you will not make good consistent money. you have to pay month fees and E&O.
    no benefits. 100% commission

    Advice to ManagementAdvice

    spend more time training on the basics of sales and prospecting skills

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 6 people found this helpful  

    I should have never worked in this establishment

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

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

    Pros

    As long as the other agents aren't out to stab you in the back, they can be friendly. (granted I know this is a competitive field)

    Cons

    I have had my team manager take half of my commission from a client I brought in from an outside source. I had to pay $300 a month for fees (cubicle space of which was a 2'x3' space with no power running through it, telephone/computer use which both worked only half the time, and lead sheets of which were reused old DNCs, not in service, wrong numbers, or I just flat out was never given leads no matter how many times I have complained). After leaving the company (several months later), I received a letter from them saying I OWE them $115 for a charged back of which it never said the precise reason if it was a lapse or cancellation, etc. However, the company took 5% of everything I made from when I worked there for the purpose to pay for a charged back in the event I left the company before a certain time period. So, where did the 5% of my money go then? I never made it to one year, but renewal commission is WAY LESS than what you made in the first year. I talked to my office manager and his manager several times to put me on a different managers team and it wasn't until the 3rd attempt when I packed up my stuff and left that he tried to convince me to stay and that he would put me on a different team. NOPE - would never work here again and would never promote it!

    Advice to ManagementAdvice

    You bulk up your company and make it sound like a dream. I understand there are several people who have actually done well for themselves, but those with horrible managers and nowhere to turn to have pretty much been thrown into a pit they can't get themselves out of. On top of it all, people who are in that boat don't tend to make decent money and if something ends up happening to a client after the agent leaves, they are expected to pay back after you have taken money from them for this purpose? This isn't made aware to anyone when they are hired. Had I known that, I would have never worked for your company in the first place. The way your company treats agents, makes me feel more and more like it is a scam/pyramid. The average work life of an agent from what I could see in my several months working there was 2 weeks to 3 months - this is not the type of company I would want to work for ever again. No job security, no benefits, no nothing unless you're making something and that is up to the managers if they even want to help you. GLAD TO BE OUT OF THERE!

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

    Insurance Agent

    Former Employee - Insurance Sales Agent in Fresno, CA
    Former Employee - Insurance Sales Agent in Fresno, CA

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

    Pros

    Earning potential is limitless.
    Flexible hours
    A chance to build your own business.
    Great support system.

    Cons

    Commissioned based income only
    Captive agency

    Advice to ManagementAdvice

    Give your agents more flexibility to work

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