Bankers Life Reviews

Updated May 21, 2020

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3.7
66%
Recommend to a Friend
87%
Approve of CEO
Bankers Life President Scott Goldberg
Scott Goldberg
491 Ratings
Pros
  • "Great training, the sky is the limit(in 90 reviews)

  • "They have a fantastic training program that gets new agents up to speed very quickly(in 68 reviews)

Cons
  • "I found a company that offers 100% commission(in 87 reviews)

  • "Cold calls are not a successful way to conduct business(in 78 reviews)

More Pros and Cons
  1. "Awesome place to work!"

    5.0
     

    I have been working at Bankers Life

    Pros

    Help people everyday to protect and preserve their assets! Build lifetime relationships with both clients and coworkers. Great training from knowledgeable management. Definitely a money opportunity. Hard work pays off! Great support from dedicated managers.

    Cons

    A lot of turn over. People give up way too quickly.

    Continue reading
    Bankers Life2014-10-28
  2. Helpful (156)

    "Changed my family's life."

    5.0
    • 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.

    Continue reading
    Bankers Life2019-01-19
  3. Helpful (1)

    "Poor Managment"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Agent/Financial Service Professional in Winston-Salem, NC
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Earning Potential, Meeting new People

    Cons

    Poor Management, Micro Management for 1099 position, Unhealthy work environment

    Continue reading
    Bankers Life2020-05-19
  4. Helpful (1)

    "Stay self motivated and you will succeed"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Unit Field Trainer 
    Recommends
    Positive Outlook

    I have been working at Bankers Life full-time for more than 3 years

    Pros

    As an insurance company it provides plenty of different revenue streams, commissions, renewals on prior business, salary if in management, overrides on your agents (if your in management). Provides decent benefits. Provides decent support both with technology as well as culturaly. Bonuses have the potential of being very high, up to $60,000 per quarter. People do reach those goals. The POTENTIAL is unlimited, no one has to follow a schedule BUT you will be expected to put in the time and produce results (as any job—not University related at least).they attempt to provide leads.

    Cons

    I find myself having to tell agents one day that they are their own boss and work independently for their selves and with their own expectations and the next day tell the same agents, you have a mandatory meeting and if you do not participate adequately then we may be forced to take action. Why were you not on a zoom call? If you are not calling your clients we will take them away from you hey are not your clients but Banker’s life clients. Then a few days later, don’t forget you have autonomy and make your own business plan. The leads can be weak at times. Chargebacks happen but home office seems to place them at the worst times including posting them at the last minute. Bonus structure is generous but the top half of bonus is almost unattainable with out a securities license. Recruiting takes up a LOT of time because turnover of new agents is extreme. If we can get them past one year then we have a good chance of keeping them for another and if we get someone to five years then they may stay till retirement.

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    Bankers Life2020-05-10
  5. "Great position if you have the drive"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Licensed Insurance Sales Agent in West Palm Beach, FL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great incentives and compensation, paid testing and background check. Company does not let you fall on your face, they help and support you.

    Cons

    Commission only, if you do not have the drive to do what you need to do you will not make money

    Bankers Life2020-04-24
  6. Helpful (4)

    "Good People"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Insurance Agent in Aurora, CO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    I worked for Bankers Life in Aurora and had a good experience. The people you work with are awesome. Their training is better than decent-they pair you up with an agent and that agent is their to walk you through everything for however long you need them. -You dont pay for your leads, but at the same time I'd rather pay for leads that are warm than call random people. Thats just my preference.

    Cons

    -Compensation for Life Insurance was low. I didn't know this at first, but their comp for life insurance was less than 50%. I found a company that offers 100% commission. -Cold calling sucks. I could never get used to it. If they tell you the leads are warm, that's not true. All your leads are cold unless you get referrals. -It sucks for starting agents because it takes a while to get traction and be successful. You have to learn about a lot of products (including medicare).

    Continue reading
    Bankers Life2020-04-06
  7. "Avoid"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Insurance Sales Agent in Clearwater, FL
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

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

    Pros

    I got to visit different areas I hadn't seen

    Cons

    Commission only, everything is done on your dime, if a policy goes backwards you owe back money you were paid. It's a rat race & you can get screwed over by other agent trying to make a dollar. If you don't have morals it's a great place for you. On the other hand if you care about others then avoid at all cost

    Bankers Life2020-05-21
  8. "Good leads"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Investment Advisor Representative in Chesapeake, VA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Feels like a family here

    Cons

    Can left out if not “in the loop”

    Bankers Life2020-04-12
  9. "Love my job"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Insurance Sales Representative 

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

    Pros

    Great training and bonus incentives.

    Cons

    The lead system is antiquated.

    Bankers Life2020-04-05
  10. Helpful (4)

    "Nothing worth having comes easy"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor in Clearwater, FL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time for more than 5 years

    Pros

    If you follow the process and don't try to recreate the wheel, you will be successful with a little hard work. Bankers does an amazing job with their training and growth opportunities within the company...whether you want to be an career agent, go into management, or become a financial advisor - the route is your choice. Wouldn't it be nice to know you could earn upwards of 50k a year just for waking up in the morning? Co-workers are great and we are always there to help another agent. We are always learning and growing. Put in the time and things get easier.

    Cons

    Starting your own business doesn't happen overnight, that said, neither does being a successful agent at Bankers. You need to set goals and have a purpose - the work is tough in the beginning, anyone successful in the financial industry will tell you that, but the rewards are well worth it.

    Bankers Life2020-03-20
Found 1295 reviews