Bankers Life Reviews | Glassdoor.co.in

Bankers Life Reviews

Updated 12 Nov 2019

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3.6
62%
Recommend to a Friend
89%
Approve of CEO
Bankers Life CEO Scott Goldberg
Scott Goldberg
463 Ratings
Pros
  • "Great training available in person and online(in 87 reviews)

  • "They have a fantastic training program that gets new agents up to speed very quickly(in 67 reviews)

Cons
More Pros and Cons
  1. Helpful (129)

    "Changed my family's life."

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

    I have been working at Bankers Life full-time for 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.

    Show More

    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.

    Bankers Life2019-01-19
  2. "Great place to work!!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Life Agent in Roseville, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bankers Life full-time for less than a year

    Pros

    Unlimited Earning Potential Great work environment/friendly coworkers Flexible schedule Management is very easy to talk to

    Cons

    100% Commissions pay scale Lead system isn’t very good

    Bankers Life2019-10-31
  3. "The best training for a new agent."

    StarStarStarStarStar
     

    I worked at Bankers Life

    Pros

    Extensive training, testing, and Bankers Life gives the best experience for a new agent.

    Cons

    Very competitive be prepared to put work in.

    Advice to Management

    Opportunity to move up in the company based on sales and experience.

    Bankers Life2019-10-25
  4. Helpful (5)

    "Commission ONLY"

    StarStarStarStarStar
    Current Employee - Insurance Agent 
    Doesn't Recommend

    I have been working at Bankers Life full-time

    Pros

    Great atmosphere Good people Travel Opportunities

    Cons

    Commission only No base pay

    Advice to Management

    Base pays would be incredibly nice for your agents. People don’t want to pay your overpriced supplements and policies. People you might as well be working for free here

    Bankers Life2019-10-04
  5. "A company that works hard to do what is fair and best for both the company and its customers"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Director in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bankers Life full-time for more than 10 years

    Pros

    Constantly evolving, likes to promote within the organization, and gives good talent opportunities. Good work/life balance.

    Cons

    Systems are outdated making it difficult to evolve with the times.

    Bankers Life2019-10-17
  6. "The least helpful, least caring company for agents who are new to the industry."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Life and Health Insurance Agent in Westlake, OH
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Bankers Life full-time for less than a year

    Pros

    They pay for your licensing exam prep and exam.

    Cons

    Almost no support. Very numbers-driven with little regard to an individual's actual experience in the field. Training is essentially halted 1 month in. A cold, very divided atmosphere; no sense of teamwork. Sink or swim. You need a large savings reserve to help you survive for your first year here as no salary is paid. No motivation to continue working for this company other than the unrealistic hope for a... large commission very early on.

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    Advice to Management

    Do not dump your new hire 1 month in because there is a newer person on board. Also, work hard to motivate your employees with rewards other than cash bonuses for unrealistic sales quotas. It is hard to get ahead and it is obvious that this is a sink or swim type of corporation.

    Bankers Life2019-11-12
  7. "Ok"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Insurance Agent in Jacksonville, FL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Bankers Life full-time for more than a year

    Pros

    Good working environment and real nice people

    Cons

    Only commissioned pay!! Have great customer service skills

    Bankers Life2019-10-19
  8. "Terrible"

    StarStarStarStarStar
    Former Employee - Insurance Agent 

    I worked at Bankers Life full-time for less than a year

    Pros

    There are none at this place.

    Cons

    Commission only, zero communication from the top.

    Bankers Life2019-11-08
  9. "Life at Bankers Life"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Insurance Agent in Little Rock, AR
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Bankers Life full-time for less than a year

    Pros

    Culture is fantastic and they give you very good training.

    Cons

    Tough starting out, have to be very patient.

    Bankers Life2019-10-17
  10. Helpful (4)

    "Don't waste your time, pyramid scheme, a bunch of "yes" men"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Insurance Sales Agent in West Des Moines, IA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Bankers Life full-time for more than a year

    Pros

    if you can stick it out, play the game and fool some people you can make some decent money for a year or so but the longevity of this job is not good. The art of selling insurance and setting up appointments over the phone is not what it once was.

    Cons

    -1099 employee -"win" "free" trips that you pay taxes on -no benefits to insurance sales agents -If you are "management" you get benefits but they are not great -Very cult like vibe and definitely a "good ol boys" club -Disrespectful to women in the office and in general -Deceptive and questionable sales tips/tactics -Most of the staff have an alcohol dependency problem and think drinking is a good way to... build team morale -No one ever has answers, all the upper management or people you would think could answer a simple questions on process or procedure never know anything and always push you off to someone else. -95% of the people that work there are barely making ends meet, living paycheck to paycheck in an apartment with a vehicle on its last leg and are too dumb to realize the true cost of "running your own business" Don't be fooled, the guys at the top need the guys at the bottom to keep a constant stream of prospective clients coming in to go see and try and sell product too. Most of the time you as the new person will set up the appointments meanwhile your trainer or mentor sets up follow ups or people they've seen a handful of times already with no opportunity AVOID AT ALL COSTS!!!

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    Advice to Management

    The big "boss" Hoffbower never showed up, would always come in all fired up and try to give some big hoo-rah speech only to not show up for the next 20 to 25 days. STOP DOING THAT, NO ONE TAKES YOUR SERIOUS OR LIKES SOMEONE THAT DOES THAT.

    Bankers Life2019-11-04
Found 1247 reviews