Bankers Life and Casualty?

[InsuranceJosh]

Re: Bankers Life and Casuality

I worked for bankers life for about 3yrs.

Let me just give you one quick fact about them.

They hired 5,000 agents in 2005(just one yr) and they only have 4,500 agents on the books. Turn and burn?

You do the math.

 

[senior-advisor-indiana]

Re: Bankers Life and Casuality

GASB has a good vesting schedule.

 

[InsuranceJosh]

Re: Bankers Life and Casuality

GASB has a good vesting schedule.

Yea, After working for Bankers for 3yrs... Nothing
Working for bankers for 7yrs... Nothing

At least if I ever want to leave GASB I will be vested.

 

[TimLett]

Re: Bankers Life and Casuality

BL&C - I started with them. Here is what I experienced. Sub-par commissions. Sub-ethical tactics to get in the home mixed with scare tacits to get the sale. Crappy leads to new agents. But, I did make a couple of good friends with whom I keep in contact.

 

[Frank Stastny]

Re: Bankers Life and Casuality

BL&C - I started with them. Here is what I experienced. Sub-par commissions. Sub-ethical tactics to get in the home mixed with scare tacits to get the sale. Crappy leads to new agents. But, I did make a couple of good friends with whom I keep in contact.

I have talked to a lot of prospects over the years who have told me stories about Bankers agents who have called on them. I don't recall talking to one prospect who told me that they had a good experience with Bankers agents.

In Missouri, the people I have talked to tell me that usually two agents will call on them and keep hammering them until they finally give up and sign the app.

P.S. That is a great pic of you and your daughter.

 

[jaguar99]

Re: Bankers Life and Casuality

I worked with Bankers in Warwick, RI and did not have a bad experience at all. No crazy monthly fees, unlimited (though crappy) non-responder leads, and LOADS of support as well as an earn-as-you-learn training experience. I earned about $2400 within my first 3 weeks on the road. The commissions are low (generally 45-50%), and you will generally have to split them with your trainer (so actually 22.5 -25%), but the flip side is that you can earn from day-one, which is not likely with most other full commission agencies.

From the stories I read on this forum, it depends on the office you're working in. If they're asking you to commit to $200 - $300 per month for leads right off the bat, don't do it. Run, don't walk away. The new agents get the worst leads available and they are shared by several other agents in the office.


I would also encourage you to stay away from ANY Torchmark company. They make Bankers look like choir boys.

 

[The Rabbi]

Re: Bankers Life and Casuality

Did you start on your own? That would be pretty tough.

I learned through NAA how it works. I tried working through local agencies but they weren't interested in my earning a living. Strange isn't it. Since I have been a professional salesman for 40 years and a businessman, it was easy to create my own identity and get the most favorable contracts. There is no loyalty to count on except to yourself. If you have the proper work ethic, you can have a well paying home based business. It requires all the focus you can give it to create your own agency doing things the way YOU want to do them.

 

[cakes13]

Re: Bankers Life and Casuality

Thank you so much for everyones replies. I'm starting to think that this may not be the right industry for me. The branch, which is in Scraton, PA, seems straight forward, however, my gut tells me not. Personally, I don't believe in going forward with something if you're unsure or you just don 't feel good about it. Although they emphasized a rigorious training program, and continued training 2x's a week, just by reading everyone's posts, the majority responses were not too favorable for Bankers or for the industry, unless you are an Independent.

I think as in anything that you do, you have to do with some passion and at least determination to succeed, its that passion and determination that gets you through the ups and downs of any business. Because I started out in this venture unsure, and am still unsure.....the passion probably wasn't there to begin with. I am eager to get into sales, for the $$ and commissions, but think I need to re-evaluate what industry is best for me.
Maybe pharma sales or something else, as I'm sure they all have their issues. But maybe, just maybe, I will find my niche.

I applaud all of you who have managed to stay on top within this business. May you continue to have success!!!!

Thanks again :-)

 

[JCK818]

Re: Bankers Life and Casuality

Well this sucks! I just started with them 2-3 weeks ago. EVeyone is correct though from what I have seen so far. First, you call seniors and tell them that you want to go over to their house so you can review their medicare coverage. THen you sell them long term care, life insurance or annuities.
THis question is for the seasoned pros in here. Since Bankers makes us do cold calling anyways, would you guys recommend for me to work for a broker who will pay me a higher split and will have a much better selection of products?

 

[padthaiforlunch]

Re: Bankers Life and Casuality

I like lazy-man velcro straps on my sneaks!