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Bankers Life and Casualty Complaints & Reviews - Agressive hiring tactics

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Bankers Life and Casualty

Posted:    TopE32

Agressive hiring tactics

Complaint Rating:  98 % with 43 votes
Contact information:
Bankers Life And Casualty
United States
I went on an interview with this company after being contacted after having my resume posted on a job board. I had worked in the insurance industry previously and had no desire of a pure commission position. I left a message for the recruiter after some research that I wanted to cancel the "interview." Someone contacted me and assured me that I could receive a one on one immediately following the group session and that there were management positions they were seeking with base salary components. Against my better judgement, I went on this so called interview.

When I got to the interview I found a group of about 15- 20 folks, most with no sales experience which did not speak highly of their selectivity. They also lured the others with thought they would receive an interview, but only received a career overview and told to leave their resume (even though recruiting had their resume to invite them to the interview). Well, they flashed all kids of numbers to try to get you interested. Also, they stressed a couple times how lucky we were they were hiring. This is really funny because they don't hire, but just urge you to sign a contract for you to be an exclusive 1099 agent. So... you can expect fully to pay for all your testing, training, gas, contribute to their overhead, etc... Also they give new prospects a " recommended " schedule for 40 hours which includes three full office days. When I asked the branch manager later during a one on one what happens if you cannot follow their schedule and do three office days, he told me they withhold better leads.

Beware of companies that promote that they are hiring and have group interviews during a lousy economy. This speaks volumes about their selectivity (lack their of) and more about their high turnover rate for new hires. Basically, if you work for this company, be ready to invest for about six months, make tons of cold calls from their office, and hope their leads and training are as great as they told you. Use some common sense, if this company was so great, why would they be doing group interviews monthly and recruiters contacting you unsolicited?

There are some decent insurance companies to work for, but be very wary of exclusive captive agencies that invite you for an interview and only want to hire you on straight commission and want your total commitment, but won't take any risk on their part.
Comments United States Job & Career
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 18th of Nov, 2009 by   Bankers Administrator +1 Votes
Bankers does take a risk in hiring - the time spent keeping in contact & following up with someone, the field trainer's time, the office administrator's time, etc... a lot of time & effort is put into contracting a new agent by several Bankers employees, so yeah, there is some investment on Bankers' part. It is a 1099 position, and that means you pay for your own state testing, gas, etc. I don't know about the office you interviewed at, but in the office I work for, we don't do cold-calling, and don't do door-to-door sales. The reason for the group interview is again, to avoid wasting hours upon hours of time. In our office, the first interview is a group, and it's really just to get candidates familiarized with our company. The second interview is a one-on-one. Some offices handle things differently. This position is not for everyone, and we weed thru several people before finding someone who is motivated enough & is interested in beginning a career with Bankers. Sales is not for everyone. But for some it is a dream job. I'd say yes, beware of scams, but don't make judgements based on people's online postings about a specific experience with a specific person. This is a nationwide company with over 170 branches. There is no investment to Bankers itself. Insurance sales requires a state license, and Bankers gets nothing out of it. In fact, we reimburse for it after being with us for 6 months. And you take it with you... you'll have it as long as you keep fulfilling the continuing education requirements of the state. So all-in-all, I hope that other people aren't deterred by your experience with one branch of Bankers. I'm telling the truth, are you?
 7th of Dec, 2009 by   bankers agent +1 Votes
I have been working at a bankers office for a year now and it is amazing!! Yes, it is a 1099 job but i love that!! some people are not ready for all the responsibilities that come along with managing your own business. It is what you make of it. you must put it alot of work and effort with this job but honestley with the freedom you have its wounderful! Any other job you would not have as much freedom. At bankers they treat you like family very understanding and kind. I couldn't even think of any other job i could have making better income. I mean minnimum wage is 7.50 per hour with this carrer you make as much money as you want its completley up to you!
On the other hand the hiring is extremely stressful on the recruiters and managers. they treat everyone with respect and are very up front and to the point with their employee's. Before I took this position with bankers i done my researching online and of course i read good things of bankers and bad things. Everyone has their own opinions so this scam stuff almost had me talked out of the job. But life is all about taking chances!!
I am so thankful that gave bankers a chance i could not have a better job now!!
The numbers they throw at you in the interview are real! i mean really isn't that why you work is to make money? Who is going to take a job without knowing what income is possible, but again it is what you make of it. The harder you work the more money you make! most agents at my branch bring in 2, 000-3, 000 a WEEK! why pass that up.
My message i for anyone who is considering bankers is this: you always have to take chances in life to get somewhere. No everyone is the same so dont judge you'r career on what someone else thinks. i am telling you as a real person and agent of bankers that this company is amazing!!! it really is a dream job!! So go for it!!!
 13th of Dec, 2009 by   JoLeCo12 0 Votes
I am so happy that I decided to google this company thanks for all your helpful reviews I am not considering any employment opportunity with these scam artists!
 13th of Dec, 2009 by   JoLeCo12 0 Votes
I'm glad that I researched this company oh I was all gung ho about going on this interview and it's good thing I cancelled my interview.
 24th of Feb, 2010 by   britt2309 +1 Votes
Thank you so much for this insight. I was going to go to an interview today after being contacted by phone by a recruiter who saw my resume online, but after reading this and other stories I have heard about this company... I would be disgraced and disgusted to work for a company like this. Even if the branch I was going to be interviewed at was not as bad as the ones mentioned here, I still wouldn't go. I don't even want to be associated with this company at all. Thank you for forewarning me about this horrible company!
 18th of Mar, 2010 by   Saynotoblc 0 Votes
Reply for BanksAdministrator

***Bankers does take a risk in hiring - the time spent keeping in contact & following up with someone, the field trainer's time, the office administrator's time, etc... a lot of time & effort is put into contracting a new agent by several Bankers employees, so yeah, there is some investment on Bankers' part. ***

Give me a break, that is not "risk". That is the Bankers "business" model. Hire as many people as you can possibly shoehorn into an office, then hope that .005% of them will float and that the rest will at least write some business to their friends and family, AND then, that at least a portion of said business doesn't lapse. Guess who still gets the renewals? Then do it all over. Keep that door revolving.

Who are you kidding? Risk? Explain "Risk". You mention "time spent", but that's the job for these people. Spend time. Scour the the internet, papers, etc and look for marks to be Bankers agents. What else would they be doing? The field agents still go to their appts with or without new marks. The office administrator is there to do paper work anyway. Wow, the CEO of Bankers must be sweating it out everyday with all this "risk."


***It is a 1099 position, and that means you pay for your own state testing, gas, etc. I don't know about the office you interviewed at, but in the office I work for, we don't do cold-calling, and don't do door-to-door sales. ****

I was thinking you might be delusional, but clearly you are just a liar. There is absolutely no office in Bankers that does not use cold calling. You can twist it and say Bankers "leads" qualify it, that the seniors who are being harassed on the phone are not being cold called but you are clearly being dishonest. The leads are awful and I can safely say that most seniors do not even remember filling anything out. So it is cold call. The seniors fill out some postcard under the guise that they will be receiving literature with information regarding Medicare. Surprise a Bankers agent is on the line to harass you.

Ever here of the T65 list? It's a list of people who are turning or have just turned 65, with, wait for it...phone numbers you can call. What, Since they turned 65 this entitles Bankers to call them? It's a cold call. Every Bankers office does it. You have no credibility after saying there are no cold calls.

***The reason for the group interview is again, to avoid wasting hours upon hours of time. In our office, the first interview is a group, and it's really just to get candidates familiarized with our company. The second interview is a one-on-one. Some offices handle things differently. This position is not for everyone, and we weed thru several people before finding someone who is motivated enough & is interested in beginning a career with Bankers. ***

Let me get this straight, you weed through people? Again a lie. The only people who are "weeded through" are the ones that die during the first round of interviews. If you have a pulse, you are potentially a Bankers agent. You might give the impression to the mark that you are weeding through candidates, but you and I both know anybody that steps foot in that office will be a Bankers agent, unless they themselves change their mind. It has nothing to do with the manager. Every Bankers office should have the plaque from the Statue of Liberty on it's wall. "Give me your tired, your poor, you huddled masses, and I will make them think this will be a great opportunity."


***Sales is not for everyone. But for some it is a dream job. I'd say yes, beware of scams, ***

The first thing you have said that was the truth. Hear on this messageboard, a Bankers representative says sales isn't for everyone. However, that's not what they make you think during an interview.

***but don't make judgements based on people's online postings about a specific experience with a specific person.***

The problem is these "problems" are NOT just "specific" experiences with "specific" people. These problems of fraud, scams, and deceit are rampant thoughout Bankers. Every company has their problems but I've never seen so many complaints about business, hiring, and sales practices as Bankers.


***This is a nationwide company with over 170 branches. There is no investment to Bankers itself. Insurance sales requires a state license, and Bankers gets nothing out of it. In fact, we reimburse for it after being with us for 6 months. And you take it with you... you'll have it as long as you keep fulfilling the continuing education requirements of the state. So all-in-all, I hope that other people aren't deterred by your experience with one branch of Bankers. I'm telling the truth, are you?***

First of all you're not telling the truth. I am however. As you may have guessed I am a failed Bankers agent. I have since gone on to become a manager at another insurance company. I have seen what went on at my office and I have been in contact with people from other branches who report the same or worse problems. You clearly must not work for Bankers if none of I wrote about has ever happened in you office.

Are there Bankers agents who do the right thing and make money. Yes, there was exactly one in my office. He was by all means successful and without and kind of deceptive practice as far as I'm concerned. Although he had been at it for 5 years.

If you are happy at Bankers. Great. Keep it to yourself, you are not being honest.

To anybody considering Bankers, please take it from me, somebody who has gone on to become a salaried manager at another insurance company, there are way too many other commission sales jobs out there, if that's what you want to do, save your self a massive headache and go look else where.
 31st of Mar, 2010 by   maui1 0 Votes
Well, where should I begin?! On Monday, March 29, 2010 I received a phone call from a "representative" from Banker's Life for a positon as "account executive." Seeing that I have only RETAIL SALES/MANGEMENT EXPERIENCE, the red flags began to emerge. As the saying goes(which, by the way was instilled in my head since childhood!) IF IT'S TOO GOOD TO BE TRUE..you all know the rest! After doing some research, I came across this site and realized my gut insticts were proven correct! Furthermore, my girlfriend received the same contact, not from Banker's, but from another Insurance hiring scam. She is somewhat gullible unfortunately so I did not mention this job offer to her. Ok, back to Banker's. I was told, as were other bloggers here, to dress "professionally" and bring a copy of my resume. Well, don't they already have one..have they ever heard of forwarding email?! Or, use a copy machine?! PROFESSIONAL??? The rep. who scheduled my interview could not even get my email address correct to confirm the meeting! I had to tell her twice! As for the people who posted positive comments on this site, all I can say is you're naive or a corporate kiss-ass..or perhaps a bit of both. Therefore, when a majority of the responses shift to the negative, common sense dictates this company's integrity/credibility is questionable. Any logical thinking person can see this is a scam geared toward desperate, un-employed persons. Soooo, as you can guess by now I phoned yesterday at 4:55 to cancel my interview. I left a message and got a call back about 5 minutes later, from the same person I left the message by the way, to confirm my interview for 10am Wednesday. I told her I wanted to cancel. She then asked if I wanted to reschedule and my response was "I WANT TO REASERCH YOUR COMPANY FURTHER BEFORE PURSUING." She knew immediatley I was aware of this scam as her voice cracked and she began talking fast..a sure sign of nervousness! She then told me she will let her Manager know of the cancellation. Well, geeee, thanks! Then, this afternoon I received an email from another "representative" from Banker's saying sorry we missed you this morning, and feel free to call us if you wish to reschedule your interview. Another red flag: INTERNAL COMMUNICATION does not seem to be their top corporate concern. And they want me to dress/act professional..give me a break! After reading onwards, I now realize Banker's focuses on the elderly; taking advantage of them bascially. I WILL NOT HAVE ANY PART OF THIS!! It sounds like constant cold-calling and/or door-to-door sales. In other words, any monkey can do this...what and where is the challenge?! Besides, any Insurance company with even the slightest concern of reputation will not hire in this manner. GOOD LUCK BANKER'S...NEXT!!!
 24th of May, 2012 by   SalesGal 0 Votes
DeniseAgent

Bitter people have to vent but i really don't think some of you have given Bankers a fair chance. NO insurance company in the U.S. is perfect. That is why we have E and O, and for some reason poor BL&C gets the most complaints from prospective agents, likely because they indeed do a cattle call approach. But it's a numbers game.
Bankers as a company is excellent and pays their claims. It would behoove any Bankers Agent to handle all the customer service with their senior clients, that's why they get nice commissions. It's an on going client/agent relationship.
Finally you can indeed make a very good living at Bankers, but it is a LOT of hard work, yes "cold calling" but so what? Sales is always about rejection. you just have to move on and say next! If some one does not want our help, there are others that do!

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