Bankers Life Reviews

Updated 4 Aug 2020

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3.7
67%
Recommend to a Friend
88%
Approve of CEO
Bankers Life President Scott Goldberg
Scott Goldberg
496 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 69 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. "Great company and amazing opportunity"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time for more than 10 years

    Pros

    Very supportive culture with best-in-class training. This is a great place to grow a career. If you're good at what you do, you can quickly build a client base. You can also become an Advisor and learn to manage investment portfolio decisions.

    Cons

    Sales isn't for everyone. You will get leads, training, and support, but you still have to put yourself out there, develop business, and close appointments.

  2. "Great place"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Insurance Sales Agent 
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great opportunity for income. Entrepreneurs welcome.

    Cons

    Difficult to break into as a career.


  3. "Good Company"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Insurance Agent 
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Fast pace and supportive work environment with lots of opportunity.

    Cons

    Commission based job can be very stressful.

  4. "Great place to work"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bankers Life full-time for more than 3 years

    Pros

    Everyone want you to succeed and will help however they can

    Cons

    First couple years can be tough

  5. "Bankers Life Review"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Licensed Insurance Agent in Denver, CO
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great office environment. Excellent training.

    Cons

    Low commission schedule for product.

  6. Helpful (161)

    "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.

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  7. "N/a"

    2.0
    Former Employee - Anonymous Employee 

    I worked at Bankers Life part-time

    Pros

    Co workers were awesome and kind

    Cons

    They may be a dishonest company

  8. Helpful (8)

    "Opinion"

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

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

    Pros

    You'll learn to be a sales person.

    Cons

    You will only be a sells person. They have over priced products. You will not be an actual insurance agent. Once you leave because of their immoral tactics, they will stick you with charge backs. Also the "senior agent" gets half your commission and will probably not put you on theirs. Horrible place to work. They are con men. I am still in the insurance business and thriving with another company after leaving Bankers. I wouldn't recommend working or buying anything from them.

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  9. Helpful (4)

    "What started out as what felt like a dream come true position quickly dwindled into everything but that!"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Insurance Agent 
    Negative Outlook
    Approves of CEO

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

    Pros

    The only real pro’s are the bonuses and initial payout structure (keep in mind it is 100% commission and you are only a contract worker for the company - no benefits!) It makes you feel like you’re going to be making 100k+ immediately! This is how they convince you it’s a great job (at first). But once those bonuses run out (around 4-6 months later), reality hits and the 100k+ starts to seem more like 35-40k (if you’re lucky). They will show you the bonuses at the interview and literally sell you on living the dream (make mega money and have all the freedom to run your own business and have the occasional Friday on the golf course), but if you do take the occasional day off or aren’t working late into the evening and aren’t making sales they begin to treat you differently. The initial training is good, but after that it’s basically just watching videos online for the “training.” I will say they’re good at hiring amazing people because you will get to work with some great people while at bankers life.

    Cons

    Leadership at the branch level is more often than not a collection of egotistical males who are great at “selling the dream” of becoming a top agent, but once you’re not producing they treat you like you’re nothing and try to force you into quitting or leaving. This is not the experience I had, but rather what I witnessed happening to other agents. And when someone leaves on their own, without being forced out, they shun you and treat you like you’re a neophyte. It’s one thing to be passionate about the company you work for, but it’s another to treat someone like they’re nothing because they chose to leave. I experienced this several times because the turnover rate is so high. I could go on and on about this, but I don’t want to make it sound like I am bashing the company I work for.

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  10. Helpful (4)

    "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
Found 1302 reviews