Does anyone Work for Bankers Life.
- Thread starter adele
- Start date
- 120
I started in insurance there before I went independent, what do you want to know?
- Thread starter
- #3
- 120
Okay, here's the scoop. I worked in one of the top 10 branches in the company for over a year. It depends on what office your going to work at?
What I liked and found beneficial;
- The people, including the office manager, we're great.
- Had excellent training programs
- Learned as much as I could from successful agents.
What I didn't like;
- The commission %'s SUCK.
- Not a single one of their products are competitive, way overpriced.
- The companies financial background.
- It's owned by CNO Financial, used to be Conseco, but they changed their name after it went bankrupt in early 2000's.
- A LOT of agents don't make it or go poor quickly.
- They've had a large amount of lawsuits recently for denying long term care benefits.
- The 'leads' you get have usually already been worked by the managers or other agents.
- Plan on cold calling for countless hours.
- It's a big pyramid. The comp is about 1/3rd of what you get as an independent because ALL the managers get a piece of everything you sell.
If your going to work in a captive office like BLC, just use it for training. Learn all you can, and run. Or better yet, find a New York Life or Mass Mutual office to start at. Still going to have similar problems, but at least people will actually recognize the name, and have a better reputation.
What I liked and found beneficial;
- The people, including the office manager, we're great.
- Had excellent training programs
- Learned as much as I could from successful agents.
What I didn't like;
- The commission %'s SUCK.
- Not a single one of their products are competitive, way overpriced.
- The companies financial background.
- It's owned by CNO Financial, used to be Conseco, but they changed their name after it went bankrupt in early 2000's.
- A LOT of agents don't make it or go poor quickly.
- They've had a large amount of lawsuits recently for denying long term care benefits.
- The 'leads' you get have usually already been worked by the managers or other agents.
- Plan on cold calling for countless hours.
- It's a big pyramid. The comp is about 1/3rd of what you get as an independent because ALL the managers get a piece of everything you sell.
If your going to work in a captive office like BLC, just use it for training. Learn all you can, and run. Or better yet, find a New York Life or Mass Mutual office to start at. Still going to have similar problems, but at least people will actually recognize the name, and have a better reputation.
- 4,689
- 120
LMAO!!! Haven't seen that video in awhile.... That's really how it is too, unfortunately.
- Thread starter
- #7
Bankers is good to start out with. They show you the basics to the insurance industry that you will need to get started
ie: cold calling, lead generation, basics of the sales cycle, etc...
I stayed with them for a little less than a year. Around month 8-9 I started realizing there are much better opportunities in the insurance industry (really wish I had found this site about 3-4 months sooner!)
If you take the job, have an exit strategy. Stay through the SNA Period (Successful New Agent (the training period, which lasts about 3 months)) You will learn stuff from it. Then, when you feel comfortable running your own appts, start planning your exit and jump ship to the independent side of the business.
You WILL make more money being on your own.
ie: cold calling, lead generation, basics of the sales cycle, etc...
I stayed with them for a little less than a year. Around month 8-9 I started realizing there are much better opportunities in the insurance industry (really wish I had found this site about 3-4 months sooner!)
If you take the job, have an exit strategy. Stay through the SNA Period (Successful New Agent (the training period, which lasts about 3 months)) You will learn stuff from it. Then, when you feel comfortable running your own appts, start planning your exit and jump ship to the independent side of the business.
You WILL make more money being on your own.
- 120
I worked at the Fort Wayne office in Indiana for about a year and a half. Which office are you going to?
- Thread starter
- #10
