Bankers Life Employee Reviews about "100 commission"

Updated 11 Apr 2020

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3.5
63%
Recommend to a Friend
87%
Approve of CEO
Bankers Life President Scott Goldberg
Scott Goldberg
605 Ratings
Pros
  • "Great training, the sky is the limit(in 92 reviews)

  • "They have a fantastic training program that gets new agents up to speed very quickly(in 70 reviews)

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

  • "Cold calls are not a successful way to conduct business(in 80 reviews)

More Pros and Cons

Reviews about "100 commission"

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  1. Helpful (8)

    "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).

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  2. Helpful (2)

    "Fun environment, very hard to get started"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Insurance Agent 

    I worked at Bankers Life full-time

    Pros

    Family Environment Entrepreneurial Atmosphere

    Cons

    100% Commission Career Micro-Management Cold Calling and Door knocking

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  3. Helpful (5)

    "Bankers Life is a job that focuses on hiring new employees, attempting to get new clients before the agent quits."

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Insurance Sales Representative in Omaha, NE
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Close Relationships Make your own hours Allowed to travel

    Cons

    Tell you you're self employed so the business pays less taxes but still treat you as an employee that isn't an independent contractor Bring in new agents hoping to get their family then provide very little support after that initial success is over 100% commission so from the time you start studying to for the exam to the time you make your first sale there is no payment. (Up to 4 months from my experience) Very little training, push strongly to work in pairs, which for a new agent means only 50% commission even if you're the one busting your butt getting appointments. Technology is very outdated, rely on cold calling for the majority of their business, no shift to more modern marketing. Must supply your own technology which isn't possible for everyone, with no other options for support. Say if you put in the hours you'll succeed providing false hope for many without the initial support that would make it possible to get off the ground.

  4. Helpful (1)

    "Entry Level Insurance Agent"

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

    I worked at Bankers Life for more than a year

    Pros

    Training is ongoing, some repetitive, but that can be a good thing as insurance in general is intense material. Flexibility, to a very limited extent, of your schedule. Potential to make good money, not great money.

    Cons

    Door knocking and using your financial resources to prospect for clients. The USM is not a purple person so he talks in an extremely demeaning manner, not motivational or inspiring. 100% commission, 1099 employee. If you are not financially stable, don't take this on. Renewals are always messed up and inaccurate. If you track your business very thoroughly like me, you will be disappointed in the lack accuracy. Should have flexibility with day to day schedule as you are 1099, but you are required to go in to the office two full days during the week and half day on Saturday. If you don't, you are considered lazy and useless. When you leave you have to seek outside counsel on using your license somewhere else. Management does not offer assistance or at the minimum discuss next steps. Read your contract thoroughly. You would be better off elsewhere if you are experienced so that you are not held captive. Management track is a joke, unless you like babysitting adults.

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  5. Helpful (5)

    "You might want to pass on this opportunity."

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

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

    Pros

    Flexible schedule and nice office

    Cons

    100% Commission They expect you to "Door Knock" every Saturday. Statewide Travel Expected (at your expense, of course). Field Trainer wants a percentage of your commissions.

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  6. Helpful (1)

    "If you need money to survive and pay bills for your first year, don't work here"

    2.0
    Former Contractor - Insurance Sales Agent in Farmington, CT

    I worked at Bankers Life

    Pros

    the training is great. the team atmosphere is good

    Cons

    100% commission based. you start from zero and don't make a lot of money the first year...if any. and they mislead you about what kind of money to expect

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  7. Helpful (6)

    "Follow the Golden Carrot"

    1.0
    Former Employee - Sales 
    Doesn't Recommend

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

    Pros

    Their training was thorough and I learned a lot.

    Cons

    The money was never what was promised. At 100% commission, it was no where near a livable wage.

  8. Helpful (5)

    "Very difficult to start a career here."

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Sales Representative in Brookfield, WI
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

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

    Pros

    Nice people to work with.

    Cons

    100% commission with almost no leads

  9. Helpful (11)

    "Natural Selection at Work"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Agent in Tulsa, OK
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Non-Office days are flexible; you set your own schedule, you see as many or as few clients as you need. Training resources are available and abundant. You will likely get several months of one-on-one training with experienced agents and managers who got their jobs by making over 100k a year in sales. Everyone you work with is in sales, or has been in sales. This means that in general, everyone in your office will be friendly, funny, and very personable. They do provide you numbers to call, with names and addresses as well.* Once you make it through your trial by fire, you will be allowed near complete flexibility in your schedule as long as you make good money.

    Cons

    No base pay, 100% commission. Do not expect to make a lot the first several months, and do not consider this at all if you can't make it 6 months to a year without steady income. You make your own appointments and set your own schedule. If you have a bad office day, you will have a bad field day, and it snowballs from there. Sales require a certain type of personality. No matter how smart you are, no matter how much time you put in, if you don't have the ability to be personable and connect with people and can't be assertive you won't do well. You are going to get hundreds of "No" answers for every Yes, before you ever get to the point where you can make a sale. Rejection can really put you in a funk. You need to have extreme mental resilience for this job. Your job is actually calling strangers out of nowhere and trying to get them to agree to meet you face to face in their own homes. After they say yes to that, the sales part is easy. But you are going to get more people yelling at you, swearing at you, hanging up, and being extremely rude than you ever will civil people. The worst part is that you know why. The people you are contacting have been bombarded by sales people all competing for their retirement dollars. Best time to call is not when you are required to be in the office. You need to be there 9-5, and the only people who answer phones in that time period are retired, disabled, or not in charge of their houses finances. With the current surge in robocalling, (even since when I was there) I would bet people are less likely to answer calls from unknown numbers than ever. No benefits whatsoever except for management. In the year and a half I was there, I saw more than 45 agents come and go. This was in an office of 12 people. The turnover of new agents is tremendously high. Management will hire almost anyone who applies that can get their certifications, so many people spend hundreds of dollars of their own money to get certified for a job at which they never really had a good chance of success. *The numbers they give you have been called to death. They will tell you that since you are calling people who have asked for info, or people who's names you know etc that it is not cold calling, but you will be doing a lot of cold calling.

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  10. Helpful (2)

    "Okay Job"

    2.0
    Current Employee - Anonymous Employee 

    I have been working at Bankers Life full-time

    Pros

    Uncapped commission potential and great team atmosphere

    Cons

    100% commission - no base salary, old/recycled leads, uses door knocking as a marketing tool

Found 87 reviews