Bankers Life Reviews | Glassdoor.co.in

Bankers Life Reviews

Updated 18 April 2019
1,179 reviews

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3.5
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Bankers Life President Scott Goldberg
Scott Goldberg
428 Ratings

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 57 reviews)

  • "100% commission requires effort" (in 79 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (15)

    "Changed my family's life."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent in Paducah, KY (US)
    Current Employee - Insurance Agent in Paducah, KY (US)
    Recommends
    Positive Outlook
    Approves of CEO

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

    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.

    Advice to Management

    Continue to provide mentoring, resources and support to incoming and Senior agents. Without these, I wouldn't be here today. Good leaders are good listeners.


  2. Helpful (1)

    "My Experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Agent in Concord, NH (US)
    Former Employee - Insurance Agent in Concord, NH (US)
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Bankers Life full-time (More than 5 years)

    Pros

    Great people to work with

    Cons

    Too much driving for too little money

    Advice to Management

    When started working had good income then sales force was doubled and income went down

  3. "The Bankers Life Opportunity"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent and Unit Field Trainer in Crystal Lake, IL (US)
    Current Employee - Insurance Agent and Unit Field Trainer in Crystal Lake, IL (US)
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Multiple product lines
    Training
    Bonus program and incentives
    Lead program
    New Agent Support
    Retirement programs
    Renewal Compensation

    Cons

    Improve distribution of agent force

    Advice to Management

    Continue to provide competitive products.


  4. "Great career starter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Field Underwriter in Greentree, PA (US)
    Current Employee - Field Underwriter in Greentree, PA (US)
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Awesome team environment, rigorous training program, flexible schedule, huge upside potential

    Cons

    Steep learning curve and requires great patients

    Advice to Management

    More frequent follow-ups


  5. "Great Opportunity with tools to succeed!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in Pittsburgh, PA (US)
    Current Employee - Manager in Pittsburgh, PA (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (More than 10 years)

    Pros

    Quality training from DAY 1. Mentoring from people who are very successful. They team up with you to support your early success and help promote you to leadership positions. Commission structure, Bonuses, and Incentives beyond average in the industry. Several Lead resources provided, and marketing ideas that truly work. Products retirees seek to live safe/secure retirement. Company has documented over $1.6 billion in claims paid in 2017 (satisfied clients & beneficiaries). Earn renewal income and deferred compensation for time invested with company. I could go on and on, but Bankers Life in Pittsburgh has Agents who have spend 1 or more, 3 or more, 5 or more, 10 or more, 20 or more, and even 30+ years with the company. There has to be evidence of doing something right for the right person! Check it out for yourself, and make your own judgement; who knows maybe Bankers Life will change your Life for the better...

    Cons

    No hourly pay rate. All the flexibility Bankers Life provides can be a detriment to someones success. This position takes hard work, it takes applying what they teach. I recommend communicating often with the people in the company that are having success, if you work hard, they'll help you.

    Advice to Management

    Empower people to do more, and expect more. Stop apologizing to people that aren't putting forth enough effort to be successful. Last in and first to leave doesn't deserve the same attention as first in last to leave, be more selfish with who deserves your time. Lastly, help everyone achieve their financial goals and accomplish their WHY?


  6. "Insurance Agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

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

    Pros

    The team and culture is very positive

    Cons

    Endless cold-calling and door knocking with low rate of sales


  7. "Great Experience! Amazing training, and Managers truly care about the reps who work there!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in San Diego, CA (US)
    Current Employee - Manager in San Diego, CA (US)
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great training
    Amazing culture
    Great pay incentives
    Great leads
    Great products

    Cons

    You just need to be hard working!

    Advice to Management

    Great job especially Chris giving it his ALL every day!!!

  8. Helpful (3)

    "Revolving door of Agents"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent in Chicago, IL (US)
    Current Employee - Insurance Agent in Chicago, IL (US)
    Doesn't Recommend

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

    Pros

    First year agent matching bonuses are great!

    Cons

    Business model doesn't work. A LOT of turn over. Basically 100% Cold Calling, Leads are recycled from years ago. Pay for belonging to office, to be in contests and for leads. 1099 but bullied into schedule and suppose to work 7 days a week.

    Advice to Management

    Put a stop to your "revolving door" and create a work model and atmosphere to maintain agents. You have put much into your training programs and most agents are out one if not two years in.


  9. Helpful (2)

    "Look yourself in the mirror before you try"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Agent
    Former Employee - Insurance Agent
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great team atmosphere
    You get alot of BONUS MONEY!!!
    At the end of the day its a sales position and you get to be a business owner with no start up costs essentially. If you are lazy then it wont be for you. There are so many agents that make BIG MONEY so it just comes down to effort.

    Cons

    It's not easy
    Its commission
    You do have to give it a lot of effort for results

    Advice to Management

    More accountability for agents


  10. "What are you worth?"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Representative in Stafford, TX (US)
    Current Employee - Financial Representative in Stafford, TX (US)
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    -You are in charge of your own career
    -They give you the training and tools to build your business
    -AMAZING BONUSES
    -Friendly and helpful staff and trainers
    -Extremely easy to move up in the company
    -No salary cap
    -Extremely flexible

    Cons

    -Lots of driving
    -Your only distraction is your own work ethic so if you aren't willing to work hard then this is not for you