I just got a call this morning for an interview with Bankers Life & Casualty. Similar story here: the call was unsolicited from a "recruiter" whose accent was so terrible I thought the company was "Bankhurst Live & Cash" during the call. I'm totally unqualified to sell any kind of life insurance, but apparently her manager thought I was a good candidate for the job anyway. The recruiter didn't know much about the job, and when I asked her if she thought I was qualified she said "I guess so". If the recruiter doesn't know anything about the job they're recruiting for - how can they honestly assess your qualifications for the position at hand? Needless to say, I was skeptical so I did some more research.
1. They are not a Nationally Accredited BBB company (though there are 5 locally accredited branches in the US - none no where near where I live)
2. It's a group interview... I've been around the block enough to know that group interview = high turnaround/we'll hire almost anyone because we're desperate OR it's a scam.
3. They expect you to pay for your training, up to $600 in licenses + travel, with no compensation. Additionally, when training is over pay is based on 100% commission & they take 50% of that for the first 6 months. That's jakced!
4. They're not honest about where and how they generate their leads. I've come to expect some dishonesty from employers (which is a kind of sad commentary in of its self), but there's a difference of withholding critical company information and treading a barrier of ethical-unethical business practices - it's what has led us to be in the state we're in today.
5. Despite their initial claims of $75k - $100k+ for first year salaries the reality is the average percentage of their agents start at $26k - $28k / year... that is, the ones who can muster the expenses of training and soul sapping.
6. Everyone starts as an Insurance Agent - this means sales. Apparently to advance in the company you need to one: open your own branch or two: advance though your ability to sell (I assume by any means necessary) their policy's.
7. There are more bad reviews/complaints than there is good-honest criticism and complements.
I know this site highlights complaints and criticisms, but I based my conclusion from several different sources on the internet and calls to friends in the investment field.
In short, if you like to hustle people, pimp yourself out, pray upon the desperate, like to feel a like a slime bag or get yelled at all day (from what is essentially cold calling) with little in return - this might be the opportunity for you.
I called back and canceled the interview (had to leave a voice mail, told them no need to return my call).