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Bankers Life

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Bankers Life

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Bankers Life Reviews

Updated Jun 21, 2022

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Found 1,730 of over 2,168 reviews

3.9
74%
Recommend to a Friend
87%
Approve of CEO
Bankers Life President Scott Goldberg
Scott Goldberg
711 Ratings

Top Review Highlights by Sentiment

Pros
  • "They have great training and you will leave their knowing how to communicate through sales.(in 276 reviews)
  • "You meet great people and you all usually get along because you know what each other is facing and challenging(in 123 reviews)
  • "Great training program (Takes a Few Months) and they give you a lot of training in the first few months to succeed.(in 56 reviews)
  • "Good managers and structure.(in 41 reviews)
  • "And quarterly bonus program is nice.(in 40 reviews)
Cons
  • "It is Commission only and that is tough(in 173 reviews)
  • "The result was that I made no money.(in 73 reviews)
  • "Long hours on the road with managers/trainers who push and some who don't even take lunch breaks.(in 53 reviews)
  • "The management is poor and cold calling all day is stressful and can not advance unless you are a favorite agent.(in 53 reviews)
  • "No benefits what so ever for independent agents besides bonuses that you can earn every quarter.(in 49 reviews)
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

Ratings by Demographics

This rating reflects the overall rating of Bankers Life and is not affected by filters.

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  1. 5.0
    Current Employee, more than 1 year

    Great Oppurtunity

    Jun 20, 2022 - Unit Field Trainer - Insurance Agent in Corpus Christi, TX
    Recommend
    CEO Approval
    Business Outlook

    Pros

    - schedule flexibility and inclination to help people - 100% commission! Earn what you put in. - No college degree needed, just a strong work ethic - Office culture is one of positivity and growth. - targeted leads at no cost to agent

    Cons

    - no base salary, 100% commission - customer service aspect/rude and unpleasant prospects to deal with - Not very big on advertising so not many people know/recognize Bankers Life until we're in the home and they discover who we represent - The hours are typically up in the air since you want to be in clients home in order to run appointments - main con is dealing with the prospects and learning how to adjust scheduling around people and common excuses

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  2. 5.0
    Current Employee

    Tremendous Opportunity

    Apr 26, 2016 - Insurance Sales in Bridgewater, NJ
    Recommend
    CEO Approval
    Business Outlook

    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".

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    261 people found this review helpful
  3. 5.0
    Current Employee, more than 5 years

    Changed my family's life.

    Jan 19, 2019 - Insurance Agent in Paducah, KY
    Recommend
    CEO Approval
    Business Outlook

    Pros

    No one determines how much I'm worth or how much my time it worth. I earn what I put into the career. By far the most rewarding career I've ever been in and it keep getting better every year. The bonuses during the 1st year of the career are great while one get momentum, and the fact that bonuses are ongoing all year long, makes it even a better incentive to work hard.

    Cons

    Not sure if this is a "con". The fact that we are in commission only instead of salary or hourly pay makes it possible for us to get paid our full commissions! I've seen hourly wages in other companies, and it's a shame someone made $100 a day in hourly wages when they could have made hundreds more with the same effort and production if they were in commissions. If anyone is looking for a job where you can just milk the clock and get paid, this is not it. But if you're looking for a vocation or career that pays you what you're worth? This is it.

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    172 people found this review helpful
  4. 5.0
    Current Employee, more than 10 years

    Awesome Place

    Jun 14, 2022 - UFT/Agent in Schaumburg, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Bankers is top notch in training agents to become successful. Your success is endless if you put your mind to it

    Cons

    It is commission only, and you have to make it as your own business, which means you are constantly working until you succeed to where you want to be

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  5. 4.0
    Current Employee, more than 10 years

    What's it like?

    May 27, 2022 - Investment Advisor in Portland, OR
    Recommend
    CEO Approval
    Business Outlook

    Pros

    I have been working for Bankers Life for over ten years now. Over that time, I have seen a number of positive changes. The people I work with are really good people. The use of technology has significantly improved. When it comes to retention, this is a high turnover industry. The retention of the Portland office has never been better, in my view. The quality of the managers is better than it has ever been, and they are doing a better job of training agents. On top of that, the company has come up with a better pay system to help new agents get their business off the ground.

    Cons

    The work is hard. It takes a serious time commitment early on.

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  6. 5.0
    Current Employee

    Changed my life!

    Jun 14, 2022 - Insurance Agent 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great culture & work environment Quarterly Bonuses Opportunity to win prizes weekly $1600/week for your first month to get you started Extra $$$ for referrals Great Financial Advisor No cap on commission Growth opportunity within first 6 months Training bonuses

    Cons

    Hard work, but very rewarding A lot of information to learn/training

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  7. 4.0
    Current Employee, more than 1 year

    Great opportunities here, ideal for skillful work experience

    Jan 20, 2022 - Insurance Agent 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Communication skills Bonus program Industry knowledge Workplace environment/ managers are very supportive and friendly Helping the community- one of most underrated parts of the business, is to know that you helped someone through a stressful time in their life. New Leads Regularly- free of charge and are decent, you get their basic info Career opportunities- (management, financial advising, having your own team) It's your own business, you can work on your own time

    Cons

    As with most sales-commission based jobs, it is commission only for the most part. Now, you do receive renewals based on your sales and bonuses, but finding new business can be tough, especially when you're first starting out. The sales industry is peaks and valleys, and consistency is key. Also, there can be dealing with clients that are not having a great day and who may be fickle, but it's not the job's fault. If you are not prepared to be prospecting for at least 5 hours a day, you won't get far.

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    4 people found this review helpful
  8. 5.0
    Current Employee, more than 5 years

    great if you are a self starter

    Jun 8, 2022 - Unit Field Trainer - Insurance Agent 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    great training company wide and within the branches, you have control over your own success, harder you work the more you make. Similar to sales but you are helping people secure their retirement which is very rewarding. tons of room for growth and self development

    Cons

    you need to be a self starter, motivated, and success/numbers driven

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  9. 2.0
    Former Employee, less than 1 year

    Sink or Swim

    Jun 14, 2022 - Licensed Insurance Agent in Topeka, KS
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The possibilities of earnings are endless at Banker's, but the training you get in the first week is the most hands-on anyone will be throughout your time with the company. They have new hire classes every month knowing that a majority of people will not work out, but if you survive, you can make a great career.

    Cons

    They sell you on trips, earnings potential, etc. but don't provide the roadmap to get you to those points. Anytime you are down on yourself or struggling, the answer is always money. If money is your sole motivator, this is a job for you.

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  10. 5.0
    Current Employee, more than 1 year

    Great Career Opportunities!

    May 19, 2022 - Recruiter in Portland, OR
    Recommend
    CEO Approval
    Business Outlook

    Pros

    If you're willing to work hard Bankers Life has unlimited growth opportunities. They are always looking for new agents, financial representatives and people with management ambitions. If you're looking for a job where you can just show up - this probably isn't for you. This is a career where your income reflects your effort and it is a great place to work. You will feel like a part of something important and the team spirit is awesome!

    Cons

    Hard work, not for everyone. You have to put a lot of effort in if you want to see success.

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Viewing 1 - 10 of 1,730 Reviews

Bankers Life Reviews FAQs

Bankers Life has an overall rating of 3.9 out of 5, based on over 2,168 reviews left anonymously by employees. 74% of employees would recommend working at Bankers Life to a friend and 72% have a positive outlook for the business. This rating has decreased by -1% over the last 12 months.

According to anonymously submitted Glassdoor reviews, Bankers Life employees rate their compensation and benefits as 3.7 out of 5. Find out more about salaries and benefits at Bankers Life. This rating has decreased by -2% over the last 12 months.

74% of Bankers Life employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated Bankers Life 3.8 out of 5 for work life balance, 4.0 for culture and values and 4.1 for career opportunities.

According to reviews on Glassdoor, employees commonly mention the pros of working at Bankers Life to be culture, coworkers, career development and the cons to be management, benefits, compensation.

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