Bankers Life & Casualty

  www.bankers.com
  www.bankers.com

Bankers Life & Casualty Reviews

Updated October 29, 2014
Updated October 29, 2014
350 Reviews
2.6
350 Reviews
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Bankers Life & Casualty President Scott Perry
Scott Perry
170 Ratings

Review Highlights

Pros
  • Great training - Take advantage of all of it - do all of the self training as well (in 22 reviews)

  • Good training and (at least in our local office) a great office atmosphere (in 21 reviews)


Cons
  • This is 100% commission so it's a lot of work to put into (in 23 reviews)

  • Cold calls to people that have been called a million times (in 19 reviews)

More Highlights

Employee Reviews

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  1. 3 people found this helpful  

    Possibly awesome, often not

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

    I worked at Bankers Life & Casualty

    Pros

    The office I worked in had a strong culture of personal development and growth, and excellent sales training. The Branch Manager was a mentor to me. Learning to cold call, learning to grind through leads and lists, learning to handle the hard work of sales was all excellent training.

    A lot of people here complain about leads and lists, of having to cold call, etc. This is THE ESSENCE of sales work, especially in the beginning. Also 100% commission is standard for insurance sales and financial services generally. There are a lot of legitimate problems, but those things are not the problem.

    NOTE: I worked at office 2021 in Tampa, FL, under Larry McGlaughlin. If he is still there, and you are in that area, I recommend it highly. Otherwise, I'd find a different insurance company to work for.

    Cons

    I moved offices, and the second office I worked for was filled with dirtbags who didn't understand the products they were selling or the terrible impact they could potentially be having on people's lives. I came to find out that this is somewhat typical for the organization, and the branch I worked at was fairly special, owing almost entirely to the personal integrity of the branch manager.

    Don't work there unless you are willing to work hard and only be paid for what you actually earn. This is very different than the "guaranteed salary" culture most people are used to, and it is very frustrating if you don't essentially buy into the idea of a direct relationship between your economic value to the company and the amount you are paid.

    Advice to ManagementAdvice

    Be more honest in your recruiting, and (slightly) more selective in your hiring.

    Make sure people have a clear understanding of insurance planning before letting them work on their own and ESPECIALLY before training other people.

    A good CRM system would make a huge difference in the lives of your agents and ultimately in your customers.

    Encourage door-knocking. With the rise of the DNC list, the only way to successfully prospect off the T65 list for new MedSup business is knocking on people's doors, and yet I am the only BLC agent I know who pursued that strategy consistently.

    If he hasn't retired yet, get Larry from Tampa to train other branch managers how to run their offices.

    Recommends
    Positive Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Crazy potential, tons of support

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

    I have been working at Bankers Life & Casualty full-time (less than an year)

    Pros

    The Culver City office is full of genuine and supportive agents. There is no cut-throat environment, everyone is very helpful and kind to new agents. The company itself is also very involved with the new agent. There is extensive training and training sessions that the company pays for on behalf of the new agents. They really invest in all of their agents and really try to make sure that they are successful. The company also pays for and provides leads for the agents, which is not something that every insurance company does.

    Cons

    The pay is solely based on commission. There is no limits on how much money you can make, but working only on commission is hard and its a hard thing to wrap your mind around. You also do not receive medical benefits, 401 k etc until you are in management. This transition can take 8 months, though the average amount of time tends to be longer.

    Advice to ManagementAdvice

    Honestly, I am very impressed with the company and how it is run. There is a focus on making sure that every agent is doing the right thing for each client. It has been a great company to work for.

    Recommends
    Neutral Outlook
    Approves of CEO
  3. 1 person found this helpful  

    Can be a great career if you can get past the long hours and extreme highs and lows that are inevitable in the industry.

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

    I have been working at Bankers Life & Casualty full-time (less than an year)

    Pros

    Great training in the industry and sales cycle; fantastic business model and financial products; opportunity for promotions and management positions; incentive programs

    Cons

    The lead generation system/prospecting tools they provide you with are very mediocre at best; compensation based solely on commissions with no benefits provided when you first start; actually getting paid the commissions was incredibly frustrating because they were always either delayed in being sent to me or considerably less than the amount expected due to all sorts of fees and costs that Bankers requires new agents to pay.

    Advice to ManagementAdvice

    Figure out a new lead system and ways to better support/provide your new agents with business.

    Approves of CEO
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  5. 1 person found this helpful  

    Office Atmosphere is great, Cold Calling sucks

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

    I have been working at Bankers Life & Casualty full-time (less than an year)

    Pros

    The money can be good, the problem is if you aren't booking good appointments you won't be getting it.

    Cons

    Cold calling non responders is hard. It would be nice to see some of the better leads filter down to the new people.

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

    Tough Business with High Potential

    • 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 & Casualty as a contractor (less than an year)

    Pros

    Lots of training material provided. Good commission. Office is helpful if you ask.

    Cons

    Long hours and two days a week used in office for cold calling.

    Advice to ManagementAdvice

    Leads are recycled. Give real fresh leads. Stop splitting commission with new agents. Let the new agents get the full commission when riding with management.

    Neutral Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Great place to start an insurance career, but keep an open mind and know that there are other concepts out there.

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

    I worked at Bankers Life & Casualty full-time (more than 5 years)

    Pros

    Great "Bankers University." They're able to teach you a sales process and a skill set that will last a life time. They believe in systems and if you "buy in" you are able to have success.

    Cons

    Bankers has a limited product line. As the years went on, the business practices we preached slowly went away. Premiums had to raise to keep the books right and clients eventually fell off the books.

    Advice to ManagementAdvice

    Recruit, recruit, recruit...... is one way to do. Time, energy, and thinking outside the box might help too.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  8.  

    Insurance Producer

    • 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 & Casualty

    Pros

    Good opportunity to make a lot of money

    Cons

    Hard work, very long days

    Recommends
    Neutral Outlook
    No opinion of CEO
  9.  

    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 & Casualty 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
  10. 2 people found this helpful  

    You should prepare yourself properly if YOU plan on working here

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

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

    Pros

    They have a decent payout for commission rates, and plenty of training at your fingertips. If you have a good manager and people who are willing to take you out into the field upon your arrival, the rest is up to you.

    Cons

    You need to set aside about 3 months of salary to start this job if you do not want to be stressed out. And you have to be prepared to study daily before you are even hired to be up to speed with the competition. If the manager gives you a pep-talk and doesn't back it up then you are in for a lot of work on your own. Especially if people aren't willing to take you out in the field, you may want to just get out of there and cut your losses. Recycled leads make the team look unorganized, and the amount of information is almost overwhelming; you wish they would just condense it and make it more simple. After all is said, it requires a lot of your time even if you get lucky and work for a good branch. If you are stuck at a branch that doesn't want to help new agents then plan on doubling that time needed to "train yourself".

    Advice to ManagementAdvice

    The quarterly earnings are a direct reflection of the management team. Get more hands on and quit hiring more people without properly training the ones you already have.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 2 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 & Casualty 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

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