Pyramid Scheme - 100% Commission based - Insurance Producer Bankers Life Employee Review

1.0
Oct 3, 2018
Recommend
CEO approval
Business Outlook

Pros

Some agents are caring and helpful. Most of the veterans will latch onto you when you are making good sales so they can split the commission with you...there are the epitome of vultures. Management only love you when they also get a slice of the pie, they are the senior vultures. I loved my clients and stayed longer than I should have. Damn near went bankrupt because of the insanity of this career.

Cons

See above, you work 7 days a week, no family life, 100% commission-based, and each year you to pay for leads, $400-500 per month BEFORE you make any sales. It’s like working behind the 8-ball, killing yourself just to get appointments and sales you have to share with trainers, managers. In all the time I was there, 1 trainer took me out on a med sup sale...and wow, I got to share $200 with him. The rest of the time you are door knocking, people hate it when you bother them at home. You also pay for leads, and again try to get appointments on non-stop cold calling. Meetings a few times a week, upper management can be so cruel to people trying to keep themselves above water. Stressful, pressure oriented and you drive your life away.

Explore other reviews about Bankers Life

5.0
May 6, 2026
Recommend
CEO approval
Business Outlook

Pros

Friendly staff and good atmosphere

Cons

I don’t have any cons.

5.0
Apr 26, 2016
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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