There are newer employer reviews for Bankers Life & Casualty

7 people found this helpful  

This is a great career opportunity in sales and management

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Sales  in  Fairfield, CT
Current Employee - Sales in Fairfield, CT

I have been working at Bankers Life & Casualty full-time for more than 10 years

Pros

Bankers is a nationally established insurance company, with solid financial footing, great leadership, and a commitment to training that many consider second to none.

Points of relevance:
* This is a dynamic sales career, with real management opportunities.
* Bankers’ niche is the retirement market, and baby boomers turning 65. This exploding market is comprised of people who are becoming eligible for Medicare, and they represent the fastest growing segment of the population. This generation has the most emerging needs, and they have the resources to afford the solutions. Bankers serves this underserved market, and is at the forefront of it.
* Training is extensive and thorough – there is initial and ongoing classroom training, topic relevant computer modules, and field mentorship. For the 2nd year in a row, Bankers was ranked within the Top 125 Best Training Companies in the world.
* There is prospecting support – Bankers provides leads & prospects, and teaches you how to build your business. The key to success in ANY sales opportunity is having prospects to see. At Bankers, there is lead support, and extensive prospecting training – and that, alone, gives you a true leg up compared to many other sales jobs.
* Financial opportunity – you have a real and viable opportunity to earn a well-above-average income at Bankers. If you have a strong work ethic, an entrepreneurial spirit, and the wherewithal to learn and grow under our tutelage, the personal, professional, and financial rewards are well worth the sweat equity.

Cons

* As said above, this is a sales career. It is not a job – and thus, should not be approached as one. If you want a job, look elsewhere. If you want a career you can grow with over the long-term, then take a closer look at what Bankers has to offer.
* The company provides a lot of training. But you need to have initiative, and a willingness to seek out answers when you struggle to grasp something. Success does not come easy – you have to be willing to “go get it.” Managers and trainers will work very hard, side-by-side with you – but they will not care more about your success than you do. If your effort is half-hearted, their enthusiasm for working with you will mirror it.
* The company invests millions of dollars in lead generation. Leads consist of direct mail & television responses, inquiries from the internet, and cross-marketing initiatives to Bankers’ extensive client base. A false assumption is to think that a lead is a guaranteed sale. It is definitely not. Bankers teaches you how to work a lead effectively, and also trains you how to cultivate and develop new prospects. Company generated leads are certainly worked multiple times, for the simple reason that it makes good business sense to do so. Leads are expensive, and should systematically be reworked. Once sold, however, a lead is pulled from circulation.
* This is not a salary position. If you need to have a salary, then this career is not for you. People attracted to this career want more than what a salary will pay, plus the incentives that go with it. There are multiple components to how you get paid in a sales career at Bankers – some of which enable you to be paid up to six times per month. There is a lucrative quarterly bonus program that rewards achievement, and affords you the opportunity to earn up to an additional $30,000 each quarter. Simply put, the more you do, the more your bonus can be. Business minded people who want the opportunity to be paid commensurate to effort and results thrive in this environment.

Recommends
Positive Outlook
Approves of CEO

330 Other Employee Reviews for Bankers Life & Casualty (View Most Recent)

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  1. 12 people found this helpful  

    Complete and utter waste of time and more importantly, MONEY!

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

    I worked at Bankers Life & Casualty full-time for less than a year

    Pros

    not a single one to be found

    Cons

    - they lie to your face during the interview process, denying up and down that you'll be cold calling which is in fact exactly what you'll be doing
    - they require you to pay for your training which no legitimate employer should ever do
    - once they have your money (the recruiters and some mid to upper management at the branch get bonuses for how many new heads they get in the door) they will exploit you as free labor to make hundreds of hopeless calls to trim the list of their crappy leads down to who is actually still alive, not on the DNC list, etc. etc. What do they care if you succeed as the one in a million who can actually make sales through cold calling or not? Its not like they invested anything in you apart from a three day orientation where they had to pay one guy to speak to a room of fifty or more hopefuls who got duped and drank the kool aid.
    - shameless scare tactics are taught under the guise of "sales techniques." when i say shameless I mean it, they even told me to not take no for an answer seven times before giving up and to not be afraid to get kicked out of a person's home. who wants to make a living doing that?

    Seriously, this was one of the biggest mistakes of my entire life. I invested close to $1,000 on taking the insurance licensing class, paying for other online courses, buying supplies and gas money from driving all over the place (none of which they reimburse you for) and a month later I had nothing to show for it besides a smaller bank account than when I got hired since it is 100% commission.

    In fact the one promising appointment I had booked my first week they tried to take from me since their pyramid scam requires all new agents for the first month or two to go on all appointments hand in hand with a senior agent. Since I didn't book enough appointments to make the management team happy they demanded I turn over what little chance I had to make money over to the senior agent assigned to me for the following day so he could run them by himself. They literally tried to steal from me. Insane. They say its set up that way so the experienced agent can mentor you but really you are just there to make extra calls for the senior agents at no cost to them. The deal is you are supposed to book the appointments, then the senior agent does all the talking and you just sit back and observe and learn and if the senior agent makes the sale you split the commission 50/50. In reality the twelve hour days I put in making literally 1,000 phone calls over three days did little more than to give a senior agent a few more opportunities to make money. The scam is that with their contracting there is a clause that states if a new agent doesn't get a certain amount of sales after three months they are not offered the opportunity to stay on board with the company, so any commissions split by them just get turned over completely to the senior agent. Total pyramid scheme.

    Advice to ManagementAdvice

    All I can say to the management of this pyramid scheme is have fun counting your money in hell. Your high pressure sales scare tactics exploit the elderly and your recruitment process exploits honest people who are looking for legitimate work and cons them into giving you free labor for a week or two before they wise up and quit.

    Doesn't Recommend
    Disapproves of CEO
  2. 7 people found this helpful  

    Worst decision of my life.

    • 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

    The best thing about this company is that you get your license for a discounted price.

    Cons

    They make you feel like you can fly off the roof, then they throw you off the roof. Their smiles are all fake. They make you go to early morning classes to "Teach" you how to make money. It's nothing but a brainwashing session. If you don't go to a few of them, you start to come back to reality. You will waste your time and money and not have a single moment in peace with your family. They even send text after test on Sunday evenings. They say to stay away from negative people. What they want you to do is to stay away from poeple who are trying to snap you back from reality. They are power hungry people who pretend to have religion but they defy religion in every way possible.

    I wish I believed these reviews when I read them when I first started but I was already brainwashed. Please STAY AWAY!!!!

    No opinion of CEO
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