Bankers Life Employee Reviews about "cold calls"

Updated 10 Sep 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 "cold calls"

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  1. "Looks good on resume"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Insurance Agent in Newnan, GA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Gets your foot in the door for other opportunities

    Cons

    Boring . Cold calls. Wasting a lot of gas on trips that end with no results.

  2. "Takes a special person"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Contractor - Agent in Pittsburgh, PA
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Bankers Life for less than a year

    Pros

    great commission and flexibility. They do offer a ton of training but it may not be the best training.

    Cons

    Cold calls to miserable old people. If you don't book any appointments, you make no money.


  3. "Job Overall"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Contractor - Insurance Sales Representative 
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I have been working at Bankers Life

    Pros

    Bankers is a phenomenal company when it comes to the range of products/programs they allow you to sell, they offer a lot of assistance in the office and in field if you ever have a question or concern with a client/client’s situation.

    Cons

    COMMISSION ONLY. Beware of the range they say you will make, even a minimum range is based off of having a minimum book of business. They say they provide leads (which they technically do), but you have to be productive to earn them. (Fair enough) however there is little support building your book of business. Many agents will help you and write business with you but everything will go in their book of business and when it comes to prospecting and creating new leads prepare for 75-100+ cold calls every office day. A good call success rate is 1 appointment every 20-25 calls. When people make 20-55 calls a day and are booked, (15 appointments minimum per week), it’s 90% of the time because they have a “in” somewhere, (family referrals, etc...). Overall the company is helpful when it comes to learning and they WILL teach you insurance. Just don’t expect to make the big bucks here unless you’ve got 1-2 years that you can afford to struggle.

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  4. Helpful (14)

    "Predatory business with poor management"

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

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

    Pros

    You can make your own schedule...kind of

    Cons

    You’re expected to work 12 hours days, 6 days a week. They prey on young people who don’t know any better and lure you in with promises of unlimited earning potential and vacations you can win. In reality, you make cold calls all day or drive around knocking on people’s doors and hope to sell a medicare supplement or life insurance. When you do sell something, you have to share commissions with your manager. You basically work for free.

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  5. Helpful (6)

    "Not for Everybody"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Insurance Producer in Owings Mills, MD
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

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

    Pros

    - Everyone is nice to your face - You can get hired right out of high school - You get to drive all over Maryland in your own car using your own gas - You get to door knock on random people's doors using an app telling you who is turning 65 - Income can be amazing

    Cons

    - Making hundred of cold calls every week - Money gets taken out of your paycheck for leads and other things not made clear to me - Leads are trash - Favoritism (If someone you refer to the company makes a sale, you make 10% of that sale. This resulted in senior agents helping out their referrals more then other new people.) - Not uncommon to work from 8am to 8pm - No matter how hard you work, no money is guaranteed

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  6. "Good Company"

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

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

    Pros

    Training and compensation are above average

    Cons

    Cold calls are not a successful way to conduct business

  7. Helpful (15)

    "Working for Banker's Life"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Insurance Agent in Wilkes-Barre, PA
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

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

    Pros

    They give an excellent presentation as to why you should work for Banker's. The only problem is that they don't do what they promised.

    Cons

    They do not pay you what they promised to pay you. I did not feel the company was very ethical and they don't really care because it was our Insurance License on the line. Promise you leads that you never get and then have you make phone calls all day or cold call. Once you have some really good leads lined up, the managers take the leads you provide and you never get paid for them. I could not work for a company like Banker's. I really thought I found a great company to grow with. I did not. What I did find was what I believed to be an unethical way of doing business.

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  8. Helpful (7)

    "Run as fast as you can!"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - BOA Branch Office Administrator in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Literally none! As a BOA there is absolutely no room for growth. You are a BOA forever. The raises are minimal and no bonuses.

    Cons

    You have to help recruit agents and lie to them about the position. I had such ethical problems with it. I was forced to cold call people off job sites to get them to come to career briefings. Had to onboard agents, which takes a ton of time, to have them quit a week later. New agents do not make money at this position. The only people making money are veteran agents, who have been wit the company for years. You will spend hours driving from house to house, to never make a sale.

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  9. Helpful (6)

    "Get ready to go broke"

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

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

    Pros

    None that I ever experienced.

    Cons

    Feels like a giant scam through and through. Cold calls for day with a "proven script" that doesn't work. Then on the off chance you get an appointment, you don't actually get to do much business because the script we used lied to them about our visit.

  10. Helpful (6)

    "False and Misleading In Every Aspect"

    1.0
     

    I worked at Bankers Life

    Pros

    Benefit Package Friendly Employees Great Offices Good Training For Insurance Test

    Cons

    • Structure Of Team Is Disorganized • Cold Call Marketing (Promised Leads) • No Real Training System After Licensed • Employee Retention 5% • Sales Based Off Lies And Scare Tactics • Management Is Very Relaxed When It Comes To Drugs In Workplace. (Reason Why I Quit) • If You Quit They Will Want All Commissions Back That Were Paid. They WILL TRY TO SUE YOU.

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Found 80 reviews