My experience has been wonderful and while there are a lot of bells and whistles, you have to be a bit smart to know that you aren't going to be making a 6 figure income your first year. If you believe a lot of what is said then you are a fool. Remember this is sales atmosphere. Quite a bit of B.S. is going to be given. I have heard bad things about other branches. I really believe it is the way it is ran.
"What doesn't kill you makes you stronger," sort of thing?
I had a couple of agents who had worked their way up from debit and door to door to Banker's Life and when I encountered them they did things like I had learned at United American (my second gig), bait and switch, et al. They actually turned out to be worse than that however... Not that all Banker's life agents are crooked, but sometimes it's what went on "down in that woodpile" that shows up!
Last edited by rapidrobert : 03-27-2008 at 05:10 PM.
Too many metaphors of which I count myself among the guilty (sorta).
On a scale of one to ten, where would you place Bankers? e.g. would you send your mother there to learn insurance? would you sell your mother a policy from Bankers? Would you let a Bankers agent sell your mother a policy? Would you recommend Bankers to your mother?
I'll start the ball rolling, I'm going to give them a 2. This is for you Ma!
Sagamore, Bankers will have going door to door like it's 1957. Chopshop second rate products. Consider ind health and cross sell life. Best of luck to you!
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Michael R. Hrad
Principal Managing Partner
Insurance Benefits Group
Health Insurance Professionals LLC
Just caught that State Farm comment.....uh, if you work in customer service in an independent's office, you'll make chump change. If you're going to run the gamit with them, that's another story....it'll take some time though.
I cut my teeth (so to speak) at Bankers...I worked my tail off to learn the biz...to no avail. Got to see the shady side of Insurance....(Branch mgr's family worked there). The products r OK, Annuities do not pay (interest and commission) anything, MedSups are overpriced, Life products are not very comparable, LTC is very expensive; overall PPL(Seniors) couldn't afford the products. Captive only company. (Would never work for another!!) Horror stories too numerous to mention about this branch.
Moral of story, "Don't put ur family where u wouldn't hang you hat."
End of Story...(True to yet!! lol)
"What doesn't kill you makes you stronger," sort of thing?
I had a couple of agents who had worked their way up from debit and door to door to Banker's Life and when I encountered them they did things like I had learned at United American (my second gig), bait and switch, et al. They actually turned out to be worse than that however... Not that all Banker's life agents are crooked, but sometimes it's what went on "down in that woodpile" that shows up!
I know what you mean. Again, I am sure can find that in any sales atmosphere. It is really how the branch is run.
I cut my teeth (so to speak) at Bankers...I worked my tail off to learn the biz...to no avail. Got to see the shady side of Insurance....(Branch mgr's family worked there). The products r OK, Annuities do not pay (interest and commission) anything, MedSups are overpriced, Life products are not very comparable, LTC is very expensive; overall PPL(Seniors) couldn't afford the products. Captive only company. (Would never work for another!!) Horror stories too numerous to mention about this branch.
Moral of story, "Don't put ur family where u wouldn't hang you hat."
End of Story...(True to yet!! lol)
That all depends on where you live...guess you don't live with their is $$$ and Seniors.
I spent a little while in their B'ham, AL office. The manager was a great guy and we still keep in touch. But, the company...well, I don't have words to describe how dirty I felt when I left work every day. I was going home one night from a day of appointments with my field trainer. I determined that if I had to act the way he acted to make money, then I'd just be poor. If someone were to go into my parent's home and sit at their table and pull the crap that I saw pulled with that company, I'd take them out in the back yard and show them what we do to crooks in northeast Alabama.
That all depends on where you live...guess you don't live with their is $$$ and Seniors.
Just letting you know their ethics and morals are not where they need to be...plenty of $$$$ and Seniors, just not into the backstabbing, manhandling of older ppl, along with the unscrupulous undertaking that a branch/company will require of an agent, to write business!! Not to speak of the pitiful compensation!!
As each post comes by, I am SOOOOO glad I didn't go out on the road and have my name be associated with their's. They were doing all the shady things you spoke of, but we never saw it until the first day on the phones. That's where the reality set in.
Just letting you know their ethics and morals are not where they need to be...plenty of $$$$ and Seniors, just not into the backstabbing, manhandling of older ppl, along with the unscrupulous undertaking that a branch/company will require of an agent, to write business!! Not to speak of the pitiful compensation!!
That again has much to do with the branch manager themselves.
Hello, I just completed my 2nd round of interviews and got a call to come in for a 3rd and final interview. I feel like this may be a good opportunity, however, I'm still somewhat cautious. Does anyone know the REAL deal with this company? Also, this is 100% commission based, and since they say it will take 3 wks to pass the exam, I'm in PA, + 1 solid week of training and a month of training with a rep, how soon can I expect to receive $$? Note, the time that is spent with the rep commission is split 50/50, the rep does receive a 40% allowance from the company, based on the sale.
I do have to pay for my license and study materials, which total to almost $400, if I stay with the company for about 2 months, the money is reimbursed. If all goes well during the 3rd interview, they hinted that I should bring my checkbook etc so that I can get started on studying. I know this is a sales position and all, but feeling that I am being pitched....
You are right about being pitched. You will make out a list of everyone you know and start calling on them. You may get lucky, maybe not. Then you will be on your own and more than likely will be starving. Your manager may or may not show up for training. No captive positions for me.
Three interviews for a commission job is really overdoing it. They'll take anyone.
Banker's Life and Casualty= bring out a new plan, 2 years later charge everyone 30% more. Come out with another plan and repeat. Once you run out of med supp plans to come out with sell your clients PFFS plans. Add on life, SHIP, HHC and everything else you can think of and call it a packaged plan.
I would not work there. Try Senior Solutions(Penn Life) or Senior Benefits (Great American) you will have much better luck and more competitve products.
Thank you everyone for your replies. Leads are generated via their direct mail system, which I would pay $100 - $200 per month. Guess I need to think this through before my Monday interview.....Thanks again.
Re: Opinion of Bankers Life and Casualty
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