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Bankers Life Reviews

Updated January 15, 2018
985 reviews

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3.3
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Bankers Life President Scott Goldberg
Scott Goldberg
323 Ratings

985 Employee Reviews

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Pros
Cons
  • There is no base pay (100% commission basis), so until you get up and running you won't make much (in 51 reviews)

  • 100% commission driven so this is not for everyone (in 69 reviews)

More Pros and Cons

  1. Helpful (1)

    "Working at Bankers Life"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Brentwood, TN
    Current Employee - Financial Advisor in Brentwood, TN
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (More than 5 years)

    Pros

    Bankers Life gives you all the resources to have a great six figure income. Great work place atmosphere, and great people. I hope to be with this company for a very long time.

    Cons

    Long work days, but you are compensated for putting in the time.


  2. Helpful (234)

    "Tremendous Opportunity"

    StarStarStarStarStar
    • 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.

  3. "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Brentwood, TN
    Current Employee - Anonymous Employee in Brentwood, TN
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    You get paid what you are worth! You have multiple career path opportunities that you can move into; Management, Career Agent, or Financial Advisor. I love Bankers Life because it has allowed me to explore all of these opportunities and take full advantage of them. You have the opportunity for multiple income streams from all facets of your business (Insurance, Securities, etc) which allows you to get ahead financially in life. It's hard to pay off college debt and raise a family on 60K...70K or even 80K income per year and still find a way to save for your own retirement. This company gave me the opportunity to fast track doing all of this (yes, with some tough lessons to begin with being commission based) but it was the best lessons I could have asked for from a company. And now the company offers even more bonuses and incentives to new agents than almost 10 yrs ago when I started.

    Cons

    Commission. But that just means you have to work. Don't fear it but embrace it and bet on yourself. Or stay in corporate America on a salary and accept 2% raises each year.

    Advice to Management

    Keep pushing for new agent incentives! The beginning can be tough and I understand that filters out those who don't have the work ethic desired, but more production based incentives will help those talented individuals starting to get their income over desired levels faster. Otherwise, keep rocking on and valuing your people like you do currently! Thank you!


  4. "Get in what you put in"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Retirement Specialist in Chantilly, VA
    Current Employee - Retirement Specialist in Chantilly, VA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Great financial outcome if you put in the work

    Cons

    No means for guidance after 3 months

    Advice to Management

    Insurance for insurance agents


  5. "Not for Everyone"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Agent in Westbury, NY
    Current Employee - Agent in Westbury, NY

    I have been working at Bankers Life (More than a year)

    Pros

    I have been with this company for about two years and have started out doing well and making the money I need to make so far. The most important thing is I have begun the process of building my career and I have found my long term home. I used to work in the corporate world and being underappreciated and underpaid got old. I have found the training to be excellent and this is what helped me make a career change. This business is not for everyone and it takes a lot of effort and a certain type of person to find success. I have received the support and training that was talked about before I started with the company and would recommend this company for someone who is willing to put the time in and take control of their future. I have found the people in the office to be helpful and I have been treated fairly but I have had to work hard for my success. If you are willing to put the time in (especially during the first year to year and a half) this can be a great career. If you are looking for someone to do it for you or for it to be easy this would not be the right company or career for you.

    Cons

    Getting started in this new field was difficult as I had never done it before and making appoints was very tough especially in the first few months. Although it did get easier with time it is still my biggest day to day challenge. I would also say, especially in my first 6 months, the good and bad days in terms of sales. Some days were good and some days were bad, it took getting used to and understanding that it is more about the long term (week, month, quarter and year) and not just day to day or appointment to appointment.


  6. Helpful (1)

    "sales in a restricetd market"

    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
    No opinion of CEO

    I worked at Bankers Life full-time

    Pros

    Have access to seniors and elderly

    Cons

    restiriceted in what they market-do not use full financial sets available to them

    Advice to Management

    get rid of sales quotas


  7. Helpful (3)

    "8 years and loving it!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Sales Manager in Albuquerque, NM
    Current Employee - Branch Sales Manager in Albuquerque, NM
    Recommends
    Positive Outlook

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

    Pros

    Advancement opportunity, personal growth and development, positive environment, sharing best practices, residual and retirement income, freedom, flexibility, ability to impact customer's lives, amazing income opportunity, excellent leads, great training, mentoring program, diverse product line, work/life balance, incentives and trips. Loving what I do.

    Cons

    It's extremely hard work and can be mentally exhausting. The income flucuates especially during the 1st year. It is not a 9-5 job, it's more of a lifestyle. If someone is just looking for a job, and not a full-time career, it is probably not a good fit for them. It took some time for my spouse to fully agree with the decision, but after 3 years, she started working there too and loved it.

    Advice to Management

    Continue growing leadership development programs and investing in your agents. Increase level of community outreach and continue to expand online target marketing programs. Be proud of your 130+ year history!

  8. Helpful (3)

    "GREAT alternative to Corporate America!!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Agent in Grand Rapids, MI
    Current Employee - Agent in Grand Rapids, MI
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    The culture is very supportive, professional, and understanding.
    The systems and processes provide someone the opportunity to run their own business with having to "figure it out" by trial and error.
    The opportunity to impact your own life financially and the lives of clients by helping them allows for a very rewarding win/win opportunity

    Cons

    You get paid for results not for time spent. It takes a certain person to be able to manage themselves on a daily basis to be disciplined and committed to following the process laid out. With freedom and flexibility come the opportunity for someone to get lazy.


  9. Helpful (2)

    "Be Prepared"

    StarStarStarStarStar
    • Work/Life Balance
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Bankers Life full-time

    Pros

    - If you're a sales person it provides the ultimate challenge
    - Growth is there if you're willing to stay

    Cons

    - No set hours
    - Hidden fees (treated as your own business, as a contractor to help get yourself going)
    - Usage of your vehicle to appointments
    - Usage of your personal computer for day-to-day work
    - Lot of frustration after the first month when you're no longer training with your trainer.


  10. "Stepping Stone"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent
    Current Employee - Insurance Agent
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Flexible schedule and staff is friendly

    Cons

    Commission only
    Management has no leadership
    Leads suck

    Advice to Management

    Learn how to delegate and spend more time with agents


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