Bankers Life Reviews | Glassdoor

Bankers Life Reviews

Updated April 30, 2017
835 reviews

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Full-time Part-time

835 Employee Reviews

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Pros
Cons
  • no base pay for beginning agents (in 38 reviews)

  • The downside is when you take that time usually there is no money coming in, you are 100% commission so no work no money (in 57 reviews)

More Pros and Cons

  1. Helpful (2)

    "Great people..."

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

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

    Pros

    A wonderful family atmosphere on the most part. I think my hiring manager was one of the most inspiring and passionate people I have ever met. The income is great when you can make appointments and get sales. Being new that is not as easy as you want to believe. But it is definitely possible and a pro for the job.

    Cons

    The expected hours are what got me to resign. 50 and 60 hour weeks are expected as a new employee. I was not expecting this to the extreme it was. Cold calling and door knocking is also rough although in itself wasn't the deal breaker. Only 4 of 10 new agents make it to year #1. It is a tough job.


  2. Helpful (1)

    "Nepotism/Cronyism"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Jacksonville, FL
    Current Employee - Anonymous Employee in Jacksonville, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    People are great but people come to work to make a living not friends.

    Cons

    nepotism and cronyism limits the greater majority of agents to succeed,

    Advice to Management

    Level the playing field, your results will be more consistent. Nepotism/cronyism only produces weak producers.


  3. Helpful (8)

    "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.


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  5. "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!


  6. Helpful (1)

    "Meat Grinder"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Associate in North Hollywood, CA
    Former Employee - Sales Associate in North Hollywood, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Bankers Life (Less than a year)

    Pros

    They help you get licensed.

    Cons

    Low quality leads mostly for low income seniors who have already been been heavily marketed to.

    Advice to Management

    Provide a small base. Don't hire anyone that can fog a mirror.


  7. Helpful (2)

    "underwriting is a joke"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Salesman in Richmond, VA
    Former Employee - Insurance Salesman in Richmond, VA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    the cofee was good?

    Cons

    Sold a lot of policies based on upfront underwriting guidelines, but probably 75-80% of business didn't get issued.

    Advice to Management

    Stop wasting employee's time with pointless meetings, and concentrate on getting underwriting straight .


  8. "Don't"

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

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

    Pros

    lists Provided, that's about it

    Cons

    The office atmosphere was hostile, the management was dictating. They say it's your business but you had to be there from 7am to 7pm. Not against hard work, I'm use to it but they were offering subpar insurance products on the life and annuity side, payouts were the same as most captive companies. Commission only, which isn't really a Con, however, they took a 5% spread from your 50% contract, the hot leads provided were mostly crap. The only real money makers were the UFTs, everyone else starved. If you didn't show up to the optional meetings you were treated like crap. if you didn't show up at 7 you were treated like crap, they didn't give you a life. I get it, it's a hard industry to get good in, however, if someone wanted to see their family and leave by 5 they should be allowed to without incrimination. Also they would always split, so in reality you really only got anywhere from 13 to 22.5% which sucks if you are trying to make a living.

    Advice to Management

    Stop hounding your commission only agents to make money so you can override and split. Relax and let people be people, they paid for all there licensing and it didn't cost you guys anything for them to be licensed.


  9. 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.


  10. Helpful (2)

    "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.


  11. Helpful (6)

    "Insurance Producer"

    Star Star Star Star Star
    Former Employee - Insurance Sales Agent in Carol Stream, IL
    Former Employee - Insurance Sales Agent in Carol Stream, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Great training.......mobile app is terrific tool

    Cons

    Commission only pay structure is misleading

    Advice to Management

    Supporting new agents more might lead to less turnover


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