Bankers Conseco Reviews | Glassdoor

Find your next job here

Bankers Conseco Reviews

Updated February 1, 2018
36 reviews

Filter

Filter

Full-timePart-time

3.3
StarStarStarStarStar
Rating TrendsRating Trends
Recommend to a friend
Approve of CEO
(no image)
CEO
0 Ratings

36 Employee Reviews

Sort: PopularRatingDate

  1. "Unit Sales Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Unit Sales Manager in Saint Louis, MO
    Current Employee - Unit Sales Manager in Saint Louis, MO
    Recommends
    Positive Outlook

    I have been working at Bankers Conseco full-time (More than 3 years)

    Pros

    Unlimited income, Ability to advance quickly, flexible schedule, great training, and helping people.

    Cons

    There is a learning curve if you have not been in insurance before.

    Advice to Management

    Continue to improve training and technology.


  2. "Insurance Agent"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    I worked at Bankers Conseco full-time

    Pros

    Good environment, will work with your schedule

    Cons

    Hard to break into the career, most people end up quitting because they don’t make any money

    Advice to Management

    Support new agents more

  3. "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Baltimore, MD
    Current Employee - Anonymous Employee in Baltimore, MD
    Recommends
    Positive Outlook

    I have been working at Bankers Conseco full-time (More than 8 years)

    Pros

    Flexible schedule, work-life balance, unlimited earning potential... sounds cliche, but its all true.

    Cons

    Id rather be at work than at home.

    Advice to Management

    NA


  4. "Agent"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bankers Conseco full-time

    Pros

    Solid Company to work for

    Cons

    Captive company to work for

    Advice to Management

    Buy Leads


  5. "Insurance Agent"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Amazing sales training to segway into other jobs

    Cons

    100% Commission. Do not start the job if you do not have an abundant amount of money in your savings until you get on your feet


  6. "Insurance Agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Sales Agent in Camarillo, CA
    Former Employee - Insurance Sales Agent in Camarillo, CA
    Doesn't Recommend
    Neutral Outlook

    I worked at Bankers Conseco full-time (More than a year)

    Pros

    Meet lots of interesting people.

    Cons

    Although you are told that you are a self employed entrepreneur, you are micromanaged to make sure you are at work at least 8-10 hours per day, 6 days per week. You are required to make a minimum of 300 cold calls per day.

    Advice to Management

    Stop lying to people!!!! Tell them that the high salary that is dangled in front of their faces is 5-6 years down the road. That is ONLY if they are willing to work 12+ hours per day, 6 days per week.


  7. Helpful (1)

    "A true insight of the company..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Agent in Syracuse, NY
    Former Employee - Insurance Agent in Syracuse, NY
    Doesn't Recommend
    Negative Outlook

    I worked at Bankers Conseco full-time (Less than a year)

    Pros

    Get to learn a lot about life insurance.
    Work at your own pace.

    Cons

    At a transitional period in my life I needed money, and I needed it bad. Having a young family and two children to support I decided to jump in with two feet. First off, do not believe everything they tell you. Here is a quick rundown on how they operate…
    I put my resume out on various websites looking for any potential jobs. Bankers Life sent me an email stating they wanted me to come in for an interview and to bring my resume. I showed up at the appointed time a few days later. Quickly I learned that this was a mass hiring attempt. There were roughly 6 of us sitting in small room waiting. The branch manager came in turned on a power point presentation and began speaking about the company and the pros about being a life insurance agent. About an hour went by and he had us leave our resume on the table if we were still interested. Well, everybody in the room did of course. Within 24 hours I received an email (with someone else’s name) for appreciation and acceptance to proceed to the one on one interview with the branch manager.
    The interview was as laid back as it could be. Honestly, he was evaluating my communication skills. Quite honestly, nothing else mattered it was very apparent that even though my resume was on his desk he hadn’t even looked at it. I felt impressed that he was willing to hire anyone.
    Regardless of what they tell you the company does do cold calling. They call it “leads”… no sir. It is just an organized way to contact everyone in the phone book controlled through the company. Say what you will, but nobody I called over a 2 month period remembered or knew anything about Bankers Life.
    Every visit is on YOUR dime and YOUR time. That means the gas, wear and tear on vehicle and not making the sale is all on you.
    The only time you ever make money is if you make a sale. Most people don’t want to meet during the day. So say goodbye to evenings and even weekends.
    The branch manager makes money based on the sales of his agents. Thus the more agents he has the more money the branch makes which he gets a percentage of.
    Oh, I almost forgot. The training is actually quite intense. It will take roughly a month to go through all of the internal and external training that is needed. I put is roughly 200 hours into the company and got paid less than minimum wage.
    Are there agents that can be successful? Yes, but it is a rarity. The company is looking to build off the backs of desperate agents looking to make a few bucks. Their turnover rate for agents is (by my best guesstimate 95%).
    I would recommend a minimum wage job before working here.

    Advice to Management

    I see them as corrupt. There was one manager (below that of a branch manager) that stole a sale from me. It was the day I quite coming to work. Not sure what advice I would give to management. To the executive staff I would recommend looking at turnover rate and replacement of local leadership.

  8. Helpful (1)

    "Insurance Agent/Trainer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent in Syracuse, NY
    Current Employee - Insurance Agent in Syracuse, NY
    Recommends
    Positive Outlook

    I have been working at Bankers Conseco full-time (More than a year)

    Pros

    You get to help older people that really need the advice. You get to develop a business that's your own! Never have to worry again about getting laid off or losing your job. You get out of it what you're willing to put in to it. Lengthy training and mentoring program. No cold calling. Fast promotion opportunities.

    Cons

    You have to work hard but it's worth it. Steep learning curve.

    Advice to Management

    Nothing, doing a great job helping people get started.


  9. "Agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    I worked at Bankers Conseco full-time

    Pros

    There are none about this organization

    Cons

    100% commission and out of pocket expenses.

    Advice to Management

    Pay weekly wages and then commissions


  10. "Save your time-No Money Here"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Representative in Erie, PA
    Former Employee - Insurance Representative in Erie, PA
    Doesn't Recommend
    Negative Outlook

    Pros

    There are some nice people that work there. The basic product lines are solid - life insurance for those who can't get it elsewhere and Medicare products, albeit slightly priced higher than others.

    Cons

    There is no upstart money for new agents; agents fees are very high; commissions are split 50/50 for all new agents. There are no benefits. Errors and omissions insurance which is said to be paid for by the company is charged to the agent. The company creates a debit account and charges the agents continuously. It is continuous sharecropping. They took $1100 out in fees out of a $1600 commission. There is no money to be made.

    Advice to Management

    Provide an arena for success for new agents and stop penalizing them. Allow them to make a profit and remove the debits. Explain the commission statements and clarify the contracts. Provide a liveable wage and if you are requiring office time and training time, pay your agents.


Showing 36 of 43 reviews
Reset Filters