Bankers Life reviews

3.8

62% would recommend to a friend

(2,250 total reviews)
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Scott Goldberg

82% approve of CEO

61% 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
1.0
Jun 6, 2015

Insurance Agent

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Not a lot of positive things to say. This is a very grueling business and there is some opportunity, but you'll have to be strategic in how you accomplish it.

Cons

100% income, no reimbursement for any expenses, lies about leads and inflated selling by USM about income potential. The best way to make money in this business is to focus on the 65-67 market with hopes of rolling over their 401k's and selling med supps or advantage plans. All the other products ( life, critical illness, ltc and stc) will eventually cancel causing major chargebacks and loss of future income. There weren't any agents in our office making six figures except for the 3 fa's and the usm. Most of the agents struggled to make $40k. The turnover was horrific. They make the leads sound like a dream, when in actuality they're all recycled. There would be times when agents would book an appointment with a client and another agent would book an appointment with the same person that day. I remember going on several appointments where a Bankers agent was already there or they were an existing client. Wasted time and gas. When this was brought to managements attention they brushed it off. The Field Trainer's would often complain about how they split their commission with new agents, but this was very misleading. When you go out with the field trainer, they are running the appointments that the new agents booked. Then the commission is split 50/50 and the field trainer gets a field trainer bonus of 40% of the 50% of the new agents commission plus overrides. Very rarely did a field trainer take an agent to an appointment they booked to split half of their income. Most of the appointments that the field trainer makes are policy deliveries, signatures, or follow up business. That's why the field trainer's income increases because they are getting into appointments they didn't book, but getting 90% commission. If you're considering working here definitely have income set aside because it is going to take at least a year to make an income you can solely live on. Focus on getting annuities because that is the greatest opportunity with this company. With it being the greatest opportunity, it is also the biggest challenge to get people to trust you with their retirement income.

1.0
Apr 7, 2015
Recommend
CEO approval
Business Outlook

Pros

Not many but if I have to pick one it's the People in the Office are good People, every one is fed the same BS so It's not their fault what they tell you is not always true.

Cons

COLD CALLING..... No matter what they tell you in your first group interview you will cold call every day your in the office. They call them Non Res-ponders, basically they tell you some thing was mailed out to this person and they did not respond to or return the post card. So even though this person did not respond to the post card your supposed to call them any way. That's COLD CALLING also I never saw any proof anything was ever actually mailed to any one, and if you ask Management they won't give you an answer because they don't know. The average time any Manager had worked in the Columbus Office was just Two years. Turn over is off the charts. One of the first things I noticed was a lack of successful Agents anywhere to be found, when I questioned why no one in the office had any signs of the success I was told the office was growing. The only people who make money are the two Guys in charge and two Financial Guys who get all of their Money Opportunity s from the Agents hard work. And last if you like most Agents have always wanted to work in a Cubical with your fellow Agents just inches away then Bankers Life is the place for you.

1.0
Feb 27, 2015

Do not work there

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Got experience in cold calling

Cons

Never saw any commission from the sells i made

Viewing 103 - 105 of 2,250 Reviews

Glassdoor has 2,804 Bankers Life reviews submitted anonymously by Bankers Life employees. Read employee reviews and ratings on Glassdoor to decide if Bankers Life is right for you.