Bankers Life Reviews | Glassdoor

Bankers Life Reviews

Updated February 26, 2017
804 reviews

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Full-time Part-time

3.1
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Bankers Life President Scott Goldberg
Scott Goldberg
231 Ratings

804 Employee Reviews

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Pros
  • Phenomenal Training, Unlimited Earning Potential, Great Team Environment, Flexible Work Schedule, Overall One of the Best Decisions I Ever Made (in 24 reviews)

  • Great training that continues for as long as you wish to take it (in 51 reviews)

Cons
  • This is a 100 % commission-only job (in 55 reviews)

  • Cold calls door knocking misleading the seniors to get an appointment to go in (in 54 reviews)

More Pros and Cons

  1. Helpful (121)

    "Tremendous Opportunity"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Sales in Bridgewater, NJ
    Current Employee - Insurance Sales in Bridgewater, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time

    Pros

    Bankers provides award winning training, an elaborate product portfolio and a rapidly growing market. They leverage cutting edge technology: contact and LEAD management, electronic business submission, an incredible proprietary mobile application. I have 11 companies I can be appointed with - making sure my clients get the best program for what they NEED. A great opportunity to receive great training, work with great people and make a great living, all for helping people.

    Cons

    This opportunity is just that, an opportunity. Those who don't take advantage of it won't think it is a good one. Even successful people deal with a ton of rejection, thick skin is needed. With a 40% closing ratio, I still hear "No" more than "Yes".

    Advice to Management

    Keep on the same path, leverage more partnerships and technology. Don't be too aggressive on timetables. The advancements are appreciated, but it is better to under promise and over deliver.


  2. "What you get is what you put into it"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bankers Life full-time

    Pros

    Phenomenal training and support. Knowledgable team leaders. Solid guidance on best practices.

    Cons

    Must put in full time plus effort to make great income. Must be prepared to have a slow start before you get the hang of things. Time, repetion, and knowlege will eventuality lead you to stability so no short cuts to succeeding in this industry.

    Advice to Management

    It's a tough business and made only for the true entrepeurs that will stop at nothing to succeed. one trainer per one new agent is more preferred than one trainer to multiple new agents.


  3. "Amazing Opportunity"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Unit Field Trainer in Charlotte, NC
    Current Employee - Unit Field Trainer in Charlotte, NC
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    I have been with the company for 8 years and it has provided me and my family a tremendous opportunity! The structure and training that is given is excellent. The Company also equips their Agents with numerous marketing resources as well as the technology to help streamline their business. The Charlotte Office produces a great work environment that is both challenging and rewarding!

    Cons

    It's a career, not a job. You need to expect to work hard if you want to be successful!


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  5. "Ehh"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bankers Life full-time

    Pros

    Environment around the company. Great coworkers

    Cons

    The Pay should definitely be more than what it is


  6. Helpful (1)

    "Better than it was, but not quite there yet."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Recruiter
    Current Employee - Recruiter
    Positive Outlook
    Disapproves of CEO

    I have been working at Bankers Life full-time

    Pros

    Great co-workers, good local management, good bonus structure.

    Cons

    As a recruiter, you're held accountable not just for how many people you schedule for interviews, but for how what percentage of those people SHOW UP, so, to corporate, your "performance" is based almost entirely on other people's ability to keep their word and has relatively little to do with you which is frustrating beyond belief.

    Advice to Management

    Maybe don't blame people for things that they literally have 0 control over.


  7. Helpful (2)

    "The best mistake I ever made"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Unit Sales Supervisor
    Current Employee - Unit Sales Supervisor
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Bankers Life has been consistently ranked in Training Magazine's Top 125 companies for the past several years. The training is continuous throughout your career, the material is poignant, and it will help you develop and grow. The management staff in each office and region I've been in have been supportive and driven to help me and others reach their personal, professional, and financial goals. I owe my entire situation (which I feel extremely fortunate to be in) to Bankers Life. The company and staff take care of its agents and managers very well. The business is difficult, but tools are provided to help you be as successful as possible.

    Cons

    The first year is the toughest. It is not easy, however my advice to those just starting out is to LAST. Make it through your first year. You will develop a client base and a renewal base. This career is a marathon and not a sprint.

    Advice to Management

    Continue doing the right thing and being supportive!


  8. Helpful (1)

    "Incredible Challenge and Opportunity!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Manager in Fort Wayne, IN
    Current Employee - Sales Manager in Fort Wayne, IN
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great training, competitive and fun atmosphere, tons of incentives and potential life changing income with an opportunity to impact people's lives and retirements in a positive way. Challenging and different every day. Huge sense of accomplishment and incredible advancement and retirement opportunities.

    Cons

    Requires very hard work, phoning, and longer hours than the average career at start up. Daily obstacles and mentally challenging at times.


  9. "Now going on 26 years..."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Bankers Life full-time

    Pros

    The company has an elaborate wellness program which includes onsite fitness classes; the health insurance offered is decent despite being high deductible; they're very keen on engaging employees regarding career paths and making paths to certain positions transparent and easy to understand. I have been with this company for a very long time (the 26 years is no joke) because I've been able to make career moves that have suited me.

    Cons

    Your manager may very well be located in another state, resulting in lack of support and questionable feedback; interpersonal squabbling in management can make creating change in business practice and processes difficult; said squabbling also tends to create silos in departments so one hand doesn't know what the other hand is doing.

    Advice to Management

    It would be nice if managers would put down the "This Is How You Manage!" books and engaged their teams on a more human level. Realize that workers don't have to be all caps PASSIONATE about their particular position to be an effective member of the team. There is too much reliance on prospective employees having college degrees. A college degree does not confer excellence in a position.


  10. Helpful (2)

    "Being a Insurance Agent not for everyone"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Agent in Saint Louis, MO
    Former Employee - Insurance Agent in Saint Louis, MO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    You get a position if you pass the state insurance exam but that doesn't mean you will also great sales person. There is quick advancement if you have what it takes to go into the insurance business.

    If you can sell anything and have through knowledge of insurance, Medicare and annuities, then this is the career for you.

    Cons

    They say they will give you leads, but they are to call people who are older and turning 65 ready for Medicare who are non responders.

     The Leads they get from Internet and mailers are outdated and already have insurance. The commissions are very small once the company takes out for giving you outdated leads and office upkeep. Your car will go through a lot wear driving to appointments that may not lead to sales or no one at home. You feel like a telemarketer and a door to door salesman instead of a licensed insurance agent.

    Advice to Management

    You should put more into training for 2 weeks instead of 3 days to truly explain how to fully conduct business. Explain what is taken out of commissions during training. Have full trainers instead of top agents training new agents.

    The Leads to call people need to be looked over. People don't answer landline phones with caller ID on TV or not a home or just have a line for Internet. And get updated leads from Internet and mailers.


  11. "Fun and exciting at first but wears off"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Field Agent in Tarpon Springs, FL
    Former Employee - Field Agent in Tarpon Springs, FL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    They do a great job hyping the company and potential before you ever even get out in the field. The training is great and extensive and you learn a lot in your first few months. The management is there for you while you're training.

    Cons

    Once you've been there a few months you are forced to go out on your own or with another new person. You need to have a pushy personality and look out for the company other than your customer. A lot of the people you sit with don't want to give you the time of day. They expect you to put in too many hrs for no pay.



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