Bankers Life Reviews | Glassdoor.com.au

Bankers Life Reviews

Updated 22 April 2019
1,187 reviews

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3.5
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Bankers Life President Scott Goldberg
Scott Goldberg
431 Ratings

Employee Reviews

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Pros
Cons
  • "There is no base pay (100% commission basis), so until you get up and running you won't make much" (in 57 reviews)

  • "100% commission requires effort" (in 79 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (17)

    "Changed my family's life."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent in Paducah, KY (US)
    Current Employee - Insurance Agent in Paducah, KY (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (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.

    Advice to Management

    Continue to provide mentoring, resources and support to incoming and Senior agents. Without these, I wouldn't be here today. Good leaders are good listeners.


  2. Helpful (3)

    "Earn your pay"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Brentwood, TN (US)
    Current Employee - Financial Advisor in Brentwood, TN (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (More than 8 years)

    Pros

    The longer your here the more the freedom and flexibility you have in this career. I've been here 10yrs and have earned a significant income with the ability to manage my time with my four daughters. This company offers many opportunities for financial freedom and it doesn't require a college degree. I appreciate my management team and the training.

    Cons

    This is a career and not a job. It takes more than 40hrs a week to build a career. You must be prepared to study nights and weekends to become an expert. The freedom can give people a false sense that they can work less hours and still make six figures. The first year is the hardest for commission only but after that, the renewals make it easier.

    Advice to Management

    I would make sure people are prepared to build a business and work weekends. Great job for entrepreneurs.

  3. "A career that will change your life!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Unit Field Trainer in Brentwood, TN (US)
    Current Employee - Unit Field Trainer in Brentwood, TN (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (More than a year)

    Pros

    The quarterly bonuses.
    Getting paid weekly.
    The opportunity to make as much as you want!
    Flexibility with time.
    The opportunity to make a difference in your community.
    A supportive and family focused environment.

    Cons

    Prospecting.
    You will have to work hard and make a lot of phone calls.

    Advice to Management

    Spend more time investing into your team.


  4. "Great opportunity for those willing to work for it!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Unit Sales Supervisor in Nashville, TN (US)
    Current Employee - Unit Sales Supervisor in Nashville, TN (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (More than 3 years)

    Pros

    Unlimited earning potential and constant growth opportunities. You can advance as quickly as you are able. Conventions and trips are great incentives that reward you and your family for hard work. This career is very challenging to start, but quickly gets easier and more rewarding. Expect long nights in your first couple of years, but with tenure, you will see your income increase and your hours decrease. This is a great opportunity for those willing to put in the work. You get to help a lot of people, make a great income, and earn incentive trips and bonuses.

    Cons

    Prospecting is always the most challenging part of any sales career. It is not always easy, but it is worth it. Expect to make many phone calls at the start of your career. Your value as a new agent is bringing appointments to the table.

    Advice to Management

    Continue to have industry leading training programs. This makes the career transition much easier.


  5. "Awesome opportunity!!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Unit Sales Manager in Nashville, TN (US)
    Current Employee - Unit Sales Manager in Nashville, TN (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (More than 5 years)

    Pros

    Unlimited earning potential, team environment, satisfaction of getting to help people, flexible schedule comes with time invested!!!

    Cons

    Prospecting (calling leads to schedule appointments, however this gets much easier in due time), chargebacks (exists in any business - manageable through good customer service). You have to work hard and invest a lot of time in it to become successful, but it's worth it.


  6. "A career without limits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent in Pittsburgh, PA (US)
    Current Employee - Insurance Agent in Pittsburgh, PA (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (More than 5 years)

    Pros

    Top 52 training company in the world with renewals on accounts after the first year. Bonuses up to $60k a quarter and constant contests. Truly amazing company trips and meetings. Reimbursement for licenses and designations. 401k, health insurance, and work your own schedule. No cap on the amount of money you can earn

    Cons

    Not a 9-5 job where you can sit back and collect a check.

    Advice to Management

    Computer systems suffer from delays and glitches.


  7. "True opportunity.."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - USV in Nashville, TN (US)
    Current Employee - USV in Nashville, TN (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (More than 8 years)

    Pros

    Great group of people to work with. Great product line. Leaving clients in a better retirement position. Amazing product and sales training.

    Cons

    Requires a big time commitment and lots of hard work. Appointments and prospecting are the most important and most difficult part of the job!

  8. Helpful (1)

    "My Experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Agent in Concord, NH (US)
    Former Employee - Insurance Agent in Concord, NH (US)
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Bankers Life full-time (More than 5 years)

    Pros

    Great people to work with

    Cons

    Too much driving for too little money

    Advice to Management

    When started working had good income then sales force was doubled and income went down


  9. "The Bankers Life Opportunity"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent and Unit Field Trainer in Crystal Lake, IL (US)
    Current Employee - Insurance Agent and Unit Field Trainer in Crystal Lake, IL (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bankers Life full-time (More than 8 years)

    Pros

    Multiple product lines
    Training
    Bonus program and incentives
    Lead program
    New Agent Support
    Retirement programs
    Renewal Compensation

    Cons

    Improve distribution of agent force

    Advice to Management

    Continue to provide competitive products.


  10. "Great career starter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Field Underwriter in Greentree, PA (US)
    Current Employee - Field Underwriter in Greentree, PA (US)
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Bankers Life full-time (Less than a year)

    Pros

    Awesome team environment, rigorous training program, flexible schedule, huge upside potential

    Cons

    Steep learning curve and requires great patients

    Advice to Management

    More frequent follow-ups