Bankers Life reviews

3.8

63% would recommend to a friend

(2,250 total reviews)
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Scott Goldberg

82% approve of CEO

63% positive business outlook

Bankers Life has an employee rating of 3.8 out of 5 stars, based on 2,250 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Bankers Life employee rating is in line with the average (within 1 standard deviation) for employers within the Insurance industry (3.6 stars).

Reviews by job title

2K reviews
2.0
Mar 4, 2015

Tough Sledding

Recommend
CEO approval
Business Outlook

Pros

Opportunity is certainly there for those who want to hustle. And when I say that plan on working 6 days a week because the only way to make sizeable commissions is to call people who are currently working. I also found that the other agents were helpful in pointing the newer agents in the right direction.

Cons

Bankers claims to be targeting and serving the middle class but the reality is that nearly all the appointments I went on were folks just scraping by each month. The goal is noble but the problem is that when funds become tight, which they inevitably do, the policies do not stay enforce. I would say that over the course of the 7 months that I was employed by Bankers nearly 70% of the policies I sold ended up being charged back. The result was that I made no money.

1.0
Feb 3, 2015
Recommend
CEO approval
Business Outlook

Pros

Typically if you are 1099 you can make your own schedule. Don't expect that here, management expects you to be at meetings during the week. 100% commission can be a pro if you are good at sales. Training by Andrew is excellent.

Cons

Management will not tell you all the costs involved in this position while you are interviewing. You will see it when you start signing paperwork, if you ask about it they will brush you off. Management is in a constant competition with one another on who to sign up so will take anyone. Agents will go in and rewrite your business if they can get away with it. Agents and leaders have been known to take new people to homes, do a presentation, no business is written, then the senior agent or leader will go back and write business and keep all the commission. After an agent leaves business if they have written business with another agent they have been known to go rewrite so agent that left gets a charge back and the other agent keeps the commissions.....lots of charge backs. Phone scripts appear to mislead customers, anything to get you in the house.

1.0
Jan 16, 2015
Recommend
CEO approval
Business Outlook

Pros

Good training and resources to better sales ability.

Cons

Where to begin... Upper management will get you to buy in and drink the kool aid, and make it seem like you can make tons of money if you follow their outline, its WAY harder than that. Also its a constant revolving door, they get all these employees to buy in and I know and have seen that not even 10% (probably more like 5%) of them even make it 6 months or even a month in most cases. My tenure was much longer than most new agents, because i had the motivation and drive to at least see it all the way through as long as possible until I just couldn't any longer financially. Most people realize fairly quickly that its impossible to make money following their guidelines and using the resources accordingly. 3 days are making appointments cold calling recycled numbers and two days in the field. Some fresh leads will come in every now and then but they are going to the top sales agents in the building not the new agents, which is understandable, again though making it hard for a new agent to succeed. On field days you can make the most of it by knocking on doors if you dont book appointments but most people dont respond well to that.Their resources are stretched entirely too thin. You get recycled leads, and every person in the office has access to the same numbers you have. Therefore people are cold calling the same people day after day, good luck setting an appointment. You can last if you have a pool of money to put into it and time to make it work. You also NEED some type of natural market friends, familes, etc, that you can sell your product too, you really HAVE to have some type of natural market to make this career work. If you depend solely on their resources completely to make it you will starve and go broke.I wasn't expecting it to be easy I was ready to grind and I did eveything to make it work, but theirs only so much you can do.

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