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Bankers Life Reviews
Updated Nov 26, 2023
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Found 1,929 of over 2K reviews
66% Recommend to a Friend
80% Approve of CEO
Found 1,929 of over 2K reviews
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Recommend to a Friend
Approve of CEO
Scott Goldberg
811 Ratings
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What people are saying about Bankers Life
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Top Review Highlights by Sentiment
Excerpts from user reviews, not authored by Glassdoor
Pros
- "They have great training and you will leave their knowing how to communicate through sales." (in 304 reviews)
- "You meet great people and you all usually get along because you know what each other is facing and challenging" (in 127 reviews)
Cons
- "Long hours on the road with managers/trainers who push and some who don't even take lunch breaks." (in 61 reviews)
- "The management is poor and cold calling all day is stressful and can not advance unless you are a favorite agent." (in 61 reviews)
- "No benefits what so ever for independent agents besides bonuses that you can earn every quarter." (in 51 reviews)
Ratings by Demographics
This rating reflects the overall rating of Bankers Life and is not affected by filters.
- 5.0Oct 12, 2023Insurance AgentFormer Employee, more than 1 yearMuncie, IN
Pros
Fun work environment Unlimited earning potential
Cons
Cold calls Commission based pay
- 5.0Apr 26, 2016Insurance SalesCurrent EmployeeBridgewater, NJ
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".
271 - 5.0Jan 19, 2019Insurance AgentCurrent Employee, more than 5 yearsPaducah, KY
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.
178 - 5.0Nov 22, 2023Insurance Sales RepresentativeCurrent Employee, more than 1 yearGreensboro, NC
Pros
Making the switch and coming onboard at Bankers was the best decision I ever made. The work/life balance is great, my salary is what I make it, and I’m surrounded by leaders (my direct manager Tom) who genuinely care about me and challenge me to grow in every area of my life both professionally and personally. Could not be more grateful to be a part of the Bankers family.
Cons
If you’re not prepared to work hard and be in control of your salary, then this may be a con.
- 1.0Oct 6, 2023Insurance AgentFormer Employee, more than 1 yearMadison, WI
Pros
Not applicable, it was no good from the jump!
Cons
Sell you on them being a great company with great products, this is a total lie!!! The only people who succeed are the upper management and a select group of skilled sales people who can get a big quarterly bonus. The Average Agent will receive $500 - $1500 in a bonus and the top reps can make up to $75k in bonuses. This looks great but there is less than 20 people out of 5,000 who will receive one of these bonuses. They will typically be Financial Reps and Bankers is so TERRIBLE that they sell you a lie of you having to use the financial reps to move money around. THIS IS BECAUSE BANKERS HAS BEEN IN SO MUCH TROUBLE WITH THE STATE OF WISCONSIN THEY SIGNED INTO A CONSENT ORDER LIMITING THE SALE OF ANNUITIES USING SECURITIES MONEY!!!! The Financial Reps take all the risk, they routinely falsify assets to make the client look in a better situation than they truly are and commonly move over 80% of the clients investable assets into NON LIQUID products! They will do this all while telling you that they are the best company with the best products and an unmatched bonus! THIS IS NOT TRUE!!! They don’t pay claims, have terrible products, and a turnover rate 2nd to none! DO NOT WASTE YOUR TIME IN A CAPTIVE AGENCY LIKE THIS!!!
2 - 4.0Nov 22, 2023Insurance AgentCurrent Employee, less than 1 yearGreensboro, NC
Pros
- Lots of freedom when it comes to scheduling your workweek - There are many individual responsibilities, but you still work with a helpful team and mentor for when you need help (my team manager is Tom Angel) - Lots of room for career growth
Cons
- First few months are difficult while you try to build a book of business - Commission only salary
- 5.0Nov 22, 2023UFT/AgentCurrent Employee, more than 1 yearGreensboro, NC
Pros
Excellent company to work for, great benefits package, exciting culture. Fast track to management if you apply yourself
Cons
No cons really, if you come in, work your tail off, it’s incredibly lucrative and rewarding. Banker’s changed my life.
- 5.0Jun 27, 2023Insurance Sales AgentCurrent Employee, more than 3 yearsGreensboro, NC
Pros
I couldn’t imagine working anywhere else. The pay is phenomenal. The training is top ranked in the world. The ability to run my own schedule is a huge perk. A HUGE pro is the residual income. You literally get paid passive income for all the policies you write for the life of those policies. 5 years in and you can be set for life. More than anything though, I love what I do. Assisting seniors with retirement planning is something I’m very passionate about and really do enjoy it. If you like talking to people and strategizing it could be a great fit.
Cons
The biggest problem you’re going to face is rejection and disappointment. You can call 30 people, 5 people answer the phone, 4 people say “No” and you only get 1 appointment. That can be frustrating and not everyone is built for that to start. Eventually the business gets easier as you build your client base, but if you’re not planning to put 40 hrs/week then it’ll be very tough. The ones making high income first year need to put 50 hours/week into their first year. Stop reading reviews and just go interview. It could be a fantastic career, but you’ll never know unless you go in for an interview. Best of luck and hope to work with you! :)
3 - 4.0Nov 20, 2023Insurance AgentFormer Employee, more than 1 yearLivonia, MI
Pros
Bankers provided an extensive sales training program that has proven beneficial in many ways
Cons
No feedback at this time
- 5.0Nov 4, 2023Insurance AgentCurrent Employee, less than 1 yearNew York, NY
Pros
Everyone is kind and really wants you to succeed and will help in any way they can
Cons
It’s very hard living off commission pay the first few months while you are building your business
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Bankers Life Reviews FAQs
Bankers Life has an overall rating of 3.7 out of 5, based on over 2,414 reviews left anonymously by employees. 66% of employees would recommend working at Bankers Life to a friend and 65% have a positive outlook for the business. This rating has decreased by -5% over the last 12 months.
66% of Bankers Life employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated Bankers Life 3.5 out of 5 for work life balance, 3.8 for culture and values and 3.9 for career opportunities.
According to reviews on Glassdoor, employees commonly mention the pros of working at Bankers Life to be management, benefits, career development and the cons to be culture .
