Resigned from Bankers Life

[HomeService]

They are captive, the agents all contract with Colonial Penn, and Humana. The securities licensed agents do contract with outside companies though, maybe that's what you are seeing.

He had more than Humana and Colonial Penn, maybe the securities guys could do that, though.

 

[Seniorgirl411]

Stay away from Bankers Life. They took away everything I worked for. They tried to come after me for charge backs that other agents created after I left. I hadn't paid it all back because I had a lawyer that was supposed to handle it. Now, after two years they call and want to threaten me again. They are a slimeball company and want to file a lawsuit over 600 dollars. They treat their agents like crap and you never know how it is to be a good agent until you can offer other companies besides Bankers.

 

[xrac]

Stay away from Bankers Life. They took away everything I worked for. They tried to come after me for charge backs that other agents created after I left. I hadn't paid it all back because I had a lawyer that was supposed to handle it. Now, after two years they call and want to threaten me again. They are a slimeball company and want to file a lawsuit over 600 dollars. They treat their agents like crap and you never know how it is to be a good agent until you can offer other companies besides Bankers.

Anyone considering BL read this post and be warned. Here is another testimony from a former BL agent.

 

[Frank Stastny]

Stay away from Bankers Life. They took away everything I worked for. They tried to come after me for charge backs that other agents created after I left. I hadn't paid it all back because I had a lawyer that was supposed to handle it. Now, after two years they call and want to threaten me again. They are a slimeball company and want to file a lawsuit over 600 dollars. They treat their agents like crap and you never know how it is to be a good agent until you can offer other companies besides Bankers.

I'm sure you edited your post after you first typed it. I think you did a wonderful job of being very kind in your post compared to how you really feel.

Thanks for sharing your experience with us. I'm sure it will be of great benefit for those who will take your post to heart instead of thinking that you are just a disgruntled former agent.

I have never worked with Bankers but I have rolled a ton of their Med Supps. If a prospect has them for their insurance I hear the ching, ching of money going into my account.

I hope you have "seen the light" and you are now an independent agent.

 

[HomeService]

I met with them, heard what they had to say. I am thinking maybe it's not a good deal, for a few reasons, #1: I don't think I want to be THAT captive. They kind of lock you in jail for two days a week {in the office} and make you get appointments. #2: would be the chargebacks. #3: I'm thinking the products are not competitive. They told me they are way higher on the med supps. But their service is better, so the higher price is worth it. #4: the reputation they have over the years, in this area of TX, and on this forum. #5: they wanted a fairly substantial downpayment. Higher than the $10 to appoint, way higher. #6: a week of in office training, like several miles from my home, a week I'm not out in the field. Now, the training seems fairly good and there may be opportunity for advancement. I have always thought I may want to be a manager somewhere, some time. The leads seem ok. There are too many negatives and not enough positives, for me.

On a side note, they did a seminar recruiting deal, with like 20 people in the room, little by little, people left!! By the time we were done, only like 5 folks were left over, to talk about the opportunity. Pretty amazing how that works. Just my 2 cents.

I'm always willing to listen to what these companies offer. Certain captive companies may be good for certain situations. I'm not totally against being captive, it's just that this one did not seem like a great fit for me. I think it may be a good way to train a newbie, maybe, if the chargebacks can be held to a minimum.

 

[Chazm]

I met with them, heard what they had to say. I am thinking maybe it's not a good deal, for a few reasons, #1: I don't think I want to be THAT captive. They kind of lock you in jail for two days a week {in the office} and make you get appointments. #2: would be the chargebacks. #3: I'm thinking the products are not competitive. They told me they are way higher on the med supps. But their service is better, so the higher price is worth it. #4: the reputation they have over the years, in this area of TX, and on this forum. #5: they wanted a fairly substantial downpayment. Higher than the $10 to appoint, way higher. #6: a week of in office training, like several miles from my home, a week I'm not out in the field. Now, the training seems fairly good and there may be opportunity for advancement. I have always thought I may want to be a manager somewhere, some time. The leads seem ok. There are too many negatives and not enough positives, for me.

On a side note, they did a seminar recruiting deal, with like 20 people in the room, little by little, people left!! By the time we were done, only like 5 folks were left over, to talk about the opportunity. Pretty amazing how that works. Just my 2 cents.

I'm always willing to listen to what these companies offer. Certain captive companies may be good for certain situations. I'm not totally against being captive, it's just that this one did not seem like a great fit for me. I think it may be a good way to train a newbie, maybe, if the chargebacks can be held to a minimum.

I worked for Great American (aka Bankers) and we were trained the same way. We were brainwashed in to believing that though our Med Supps were higher in price, we offered better customer service and faster payment with claims.
ALL BS!
Whenever I go into a home with someone that says they met with a Bankers agent, I make sure I let them know that I will be their agent and they will have my cell phone number if they ever have any questions. It's exactly the same thing a Banker's agent will say but they truly believe that no one else can offer that.

They offer horrible commission, horrible residuals. Takes 5 years to vest and you are trained to lie to people.

Leads you say? HA! You won't get any worth squat. They will be recycled leads that the office has already passed around 5 times.

I know you are just sitting down with companies, but do yourself a huge favor and stay away

 

[HomeService]

I worked for great american also, they are not "aka bankers".

 

[Frank Stastny]

I worked for Great American (aka Bankers) and we were trained the same way. We were brainwashed in to believing that though our Med Supps were higher in price, we offered better customer service and faster payment with claims.
ALL BS!
Whenever I go into a home with someone that says they met with a Bankers agent, I make sure I let them know that I will be their agent and they will have my cell phone number if they ever have any questions. It's exactly the same thing a Banker's agent will say but they truly believe that no one else can offer that.

They offer horrible commission, horrible residuals. Takes 5 years to vest and you are trained to lie to people.

Leads you say? HA! You won't get any worth squat. They will be recycled leads that the office has already passed around 5 times.

I know you are just sitting down with companies, but do yourself a huge favor and stay away

That's a big AMEN!!!!!!!!!!!!!!!!!!!!! The easiest company to roll that I have ever encountered.

 

[HomeService]

...but I get your point, chaz, they are not "aka bankers", but they might as well be.

 

[Chazm]

...but I get your point, chaz, they are not "aka bankers", but they might as well be.

Thats what i meant. Most of the managers at GA are from bankers and all their philosophies went with them to GA. The training is pretty much the same too. I can of course only speak in Florida