Interview with Bankers Life and Casualty

[Ron305]

I started with Banker's. They they have some good intial training that is strictly focused on Med Supps. After that there is NO support. They give you a cold call list and a "Field Trainer" whos only job is to go woth you on your first few appts. and take half your commission. I wouldn't have a problem with that if they accutually trained me, but they literally just sat there and did nothing.

I was with them for 6 months, drove 6000 miles to appts. that had 50% no-shows and made about 5K commission.

High pressure, little support. If you can handle that, and surivive until you get some money in the bank and renewals, they're not bad. Good bonuses, advancement.

But don't even consider it if you don't think you can handle the pressure.

 

[love_love]

I started with Banker's. They they have some good intial training that is strictly focused on Med Supps. After that there is NO support. They give you a cold call list and a "Field Trainer" whos only job is to go woth you on your first few appts. and take half your commission. I wouldn't have a problem with that if they accutually trained me, but they literally just sat there and did nothing.

I was with them for 6 months, drove 6000 miles to appts. that had 50% no-shows and made about 5K commission.

High pressure, little support. If you can handle that, and surivive until you get some money in the bank and renewals, they're not bad. Good bonuses, advancement.

But don't even consider it if you don't think you can handle the pressure.

Thank you for this comment...

 

[dabatman]

Ask a Bankers Life agent why there is a rider on their LTC policies that doesn't allow a person who owns a portion of a nursing home to make a claim on their LTC policy.

Curious to know as to what kind of answer one could expect from this question... Good or Bad answer. Please shed a little more light on this.

 

[gboylan21]

become an independent. most companies are not going to charge to get licensed. the last thing you want to do is be a captive agent in todays market. if you cant beat their rate with bankers then you have nothing to transition to. having at least 5 different companies at a minimum is a good idea. that way your not just relying on the only plan you have being the best rate.

 

[Norwayguy]

First let me preface that this information is over 10 years old. My branch with BLC Bangor, ME had a requirement to appoint 36 new agents each year....I came on board in Sept and in January I looked through the list of agents still with the company and it wasn't until I hit August that there was one other agent still with the company...

The biggest red flag I had was coming into the monthly meetings and hearing all the grips about the S. Portland Branch having agents come into our houses ripping up our cards, telling the client we where not with the company any longer and then rewriting the business. Now this never happened to me but happened to a bunch of agents in our branch.

Also Bankers likes to send 2 agents out on appointments and essentially sit in the seniors house until they buy a policy and policy...Because of the high amount of agents that need to be recruited in my branch the managers spent their full time recruiting and let agents like myself with only 4 months in the company doing on the road training splitting commissions.

I have been an independent agent in other lines of the industry for years and nothing is as good as being able to offer your client the best policy based on their needs not based on what you have to sell.

 

[insurance0707]

Their Med supp rates are quite high. I got a lead card in and called the lady that sent it in. She had just taken out a plan G medicare supp with Bankers. I quoted her Plan G with United of Omaha, it was $800 a year cheaper with United of Omaha. Needless to say, I wrote the policy

 

[medx]

Agree with that.

Their Med supp rates are quite high. I got a lead card in and called the lady that sent it in. She had just taken out a plan G medicare supp with Bankers. I quoted her Plan G with United of Omaha, it was $800 a year cheaper with United of Omaha. Needless to say, I wrote the policy

Medicare Information and Medicare supplement Insurance plans
American Seniors Insurance
www.americanseniors.com

Medicare supplemental insurance website
National medicare Supplements
www.nationalmedicaresupplements.com

 

[Tampa Teddy]

Their Med supp rates are quite high. I got a lead card in and called the lady that sent it in. She had just taken out a plan G medicare supp with Bankers. I quoted her Plan G with United of Omaha, it was $800 a year cheaper with United of Omaha. Needless to say, I wrote the policy

I think it varies significantly by area. Around here they are very competitive with AARP and pay 2-3 times the commission. My buddy does very, very well with them.

 

[magagent]

Wow! Bankers paying more than AARP, BLC must have really changed their commission structure. I recently recieved a recruiting direct mail piece from Physicians Mutual claiming they pay their agents 29% first med supp commission. Yeah I know how that works 29% and no residuals.

 

[alexkane03]

Look, you may not be able to pick up the basics anywhere else , like prospecting , simple presentations , some closing . it is a positive to learn these things , bankers have a great tools for new agents , what is not good as everyone knows is the $. do bankers for 18 month . try not to put too much business on the books , then explore independent agent realm , wishing you the best,