15 comments

I am here to tell you that this is not a scam. It's a legitimate company.

the reason they don't tell you how much you make is because they really can't tell you. It's all going to depend on how much you work. Some agents for this 130 year old company make over 120k per year if they work at it. it is sales.

It is mostly commission but it is also bonuses and renewals. And unlike most companies that make you look for your own customer base, if you know sales you know about this....Bankers will actually supply their agents with leads and a customer base. It's an incredible place to work and for those who read that thisi s a scam. You obviously don't want a career.

You want to sit on unemployment for as long as you can and don't want to try anything New. Well I say shame on you for not giving it a try. For not even looking in to it passes some website that has nothing but people saying bad things about something they never even did.

Nobody showed for an interview on here they just claim to "know" it's a scam.

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Anonymous
#272018

bankers is a scam to agents. The way you make money with Bankers is to recruit, then you take these new people into orpaned policy owners homes, rewrite business into your name and the agent being trained.

this keeps Bnakers from paying out renewls to agents that have left or retired, plus it gets the new agent on their way to selling enough policies that the trainig agent, recruiting agent, and all the managers get their bonuses. Then after helping the new agent meet this quota on sales this way they then charge the agent up to $250 a month for leads. They are not Leads. Most of what you get is people who have logged on to internet sites (such as travel sites) if their age meets bnakers criteria then the name is sold to Bankers and passed on to agent as a person that has requested info.

Then they charge you about 10 times more for E&o insurance. You have to have it through them and not some other company. They tell you it is a great savings for you. BS.

Then when you quit you have to continue paying for your E&O for the rest of the year because you still have policies in place, but then they don't want to pay you renewals. There is a reason that most Bankers agents have either been with the company more than 15 years (because they are at the top of the pyramid) or less than 5 years, because people realize they are just being used. When it sinks in that what you are doing is just moving old business around on the books to keep the higher ups in bonus territory because of number of apps being submited you start to see that by taking this business it keeps other agents from their renewals but that this will happen to you too. So you start counting on this renewal business because that is where the money starts to add up and you realize that the people that hired and trained you are hiring and traing new people to keep you from your money.

Also about 8 out of ten submitted apps get rejected so the managers push the auto issue stuff. It doesnt pay well and is not good for the customer but it gets them their quota bonus.

Anonymous
#263576

I worked for Bankers for about a year in Texas. I did pretty well, won Winner's Edge in APCs & Applications actually!

The way Bankers Life churns through recruits is what creates an atmosphere more like hustling. Working for Bankers is not a career it is a lifestyle. New agents usually NEED CASH NOW!!! Sadly, too many are put into the field too early, and lie either to a client's face or through omission because they need to get paid!

It's all about what you can do for Bankers, not what Bankers can do for you. Scamming agents don't last long, but because of the way the system is set up, there is always a NEW SCAMMER! This is not a job I would recommend for very many people, and those that I would recommend it to, 90% of the time have better options for employment available to them! Me personally, Bankers gave me an education in Medicare that I otherwise would not have had.

That helped me get on with an accounting firm that specializes in auditing medical facilities such as hospitals & nursing homes. I'm not making the $120K a year that was implied by Bankers if I just "worked hard enough", but make $60K with full benefits including health, LTC, retirement, and vacation.

If I was working with Bankers it would cost me at least half my pay to afford these benefits and the miles on my car, so it's a wash to me! Don't work for Bankers simply because you are better than that!

Anonymous
#256236

Seniors pay in thousands of dollars to this ponzi pyramid scam company and receive just a few hundred of dollars in benefits. BANKERS SCAM SENIORS!!!

IT'S A SCAM ON SENIORS, SCAM SCAM SCAM!!! STAY AWAY FROM THIS SCAMMING COMPANY JOB SEEKERS, SCAM SCAM SCAM!!!

Anonymous
Novelda, Valencia, Spain #256144

Maybe you should see all the claims being paid to "the elderly" that are in a nursing home. Or the death benefit checks going out to the widows of policyholders.

I see them everyday going out. I wonder if those policyholders thinks its a scam.

Anonymous
#255157

I was just offered a position and it may not be scam but it is fishy. 1st of all the company does not provide leads, they ask you to pick 10 zip codes close to where you live then they purchase a contact list for you to make the calls - cold calls; nothing even remotely close to a qualified lead.

2nd of all as an agent you are an independent contractor so their should be no set hours and never a reason to go to an office all for this work can be done from your own home.

Use your head

Anonymous
#251130

Here we go again with the same tired line of " if you just work hard enough" ***. Bankers once was that line of thinking because they had some good products but not any more.

Bankers has rate increases, fines increasing, lawsuits pending, investigations ongoing, they just increased the FSP contributions for agents to almost double, more TV airtime than Paris Hilton with more negative results from it. Its not about just hard work, its also about providing the most suitable and cost effective insurance plans for our Senior population and Bankers has neither.

Anonymous
#247706

I gave it a try and yes some people are making money. The people at the top of the pyramid.

Shame on you! Oh and I hope you can sleep at night knowing you are screwing the elderly out of what little money they have!

Anonymous
#247418

No point missed here!! There's not a Bankers agent breathing that has morals!!

Contact the federal governemnt who is investigating Bankers. Evidently every Banker agent in the US has no morals because Washington DC has been slammed with statements all over the US about Bankers agents predatorial scam on the elderly. It's easy money for you heartless money greedy jerks. You go in to these seniors homes and rob them!!!

You spineless thieves get these trusting seniors to sign contracts that automatically deduct hundreds of dollars from these seniors bank accounts and the benefits are minimum to none!! When the day comes for their care these seniors money is gone, it's tied up in this scam company and Bankers will find a loop hole to keep them from any benefits. I've seen this company rob at least fifteen seniors in two different cities. I will testify against Bankers in Washington if I get the opportunity and I really think I will, I can't wait!

Job seekers have morals and save yourselves.

Bankers is a ponzi pyramid scam on the elderly and you are needed as a pawn in this scheme! You will not benefit at Bankers, God will see to that!

Anonymous
to Get Real #1420453

well here I go again. I replied but it didn't post, but I will type it all again.

To say that not one bankers agent has any morals is Ludacris. Do you personally know every bankers agent. I don't think so. don't lump every agent together.

There are people with no morals in every field. I was an agent for over 8 years and had to leave due to medical issues. In those 8 years I have met hundreds of people. I treated everyone I met as if they were my family.

In fact, many of my family members are bankers client to this day. I have hand delivered many insurance checks to my clients families over the years. As a matter of fact, I still have the dozens of thank you cards I received from my clients family thanking me for helping them. I've done work for my clients that was not even in my job description.

I've sat in the social security office for over 4 hours trying to help my client after her husband passed. I've been to the funeral home to lend my support to my clients. I've sat with my clients on a sunday morning helping them go through their "junk mail" because they didn't know what to do with it and had no family willing to help them. I am a damn good person.

And for you to call me a GREEDY ***, SPINELESS THIEF AND A PERSON WHO HAS NO MORALS without even meeting me shows what an *** you must really be. But your right, some agents may be greedy jerks, spineless thieves and have no morals, isn't that every career, every job.... everywhere in the world....

but I can tell you one thing, that isn't me. good luck in Washington....

Anonymous
#247382

You are missing the point. It's not the entire company that's slamming people. It's individual agents with no morals!

Anonymous
#244601

PATRICK PIPER PICKED A PECK OF ELDER PEOPLE TO PREY AND PLUCK.

FACTS GOT HIS OR HER FACTS ON BANKERS SCUMS!! BANKERS IS BEING INVESTIGATED FOR THE SECOND TIME IN THREE YEARS. GOOGLE TO FIND THIS FACT...LOL...ALSO CHECK OUT BANKERS ON SCAM.COM

Anonymous
#244585

I don't owe any of you SOB's at Bankers Life anything including my name. I gave your piece of sh** company my name many times for many years but was never helped.

I've seen several seniors scammed by Bankers in my place of employment too many times. In a few months, you may know my name because I was glad to give it to the federal gov in Washington DC who is investigating Bankers for fraud and scams on seniors. I told them that I would be honored to stand and testify against Bankers for all the seniors I've seen HURT by this pyramid scam company. FACT, I can't wait to testify!

So, Mr Patrick "if that's really your first name" what's your full name since you're so proud of this mafia organization.

I'd be too embarrassed to admit that I worked at Bankers and made my living being a thief preying on seniors! Bankers is WORSE then the Bernie Madoff scam.

Do your homework id-i-ot, you'll see several top Bankers CEO's have quit, hmmmm. Why are you worried about this site, hmmmmmm.

Anonymous
#244189

In response to "Fact Bankers is a scam," where did you get your 'FACTS?' I've worked my rear off for this organization for a couple of years now and this isn't true. If you truly feel this way and your information is factual why hide your name?

Anonymous
#241399

It's easy money to scam the vulnerable elderly. I don't know why Bankers doesn't visit daycares, most are the same mentally aged.

Bankers purchased Colonial Penn knowing that the investigation in Washington may put them out of business under the Bankers name. Bankers was just fined and paid out over a billion dollars in lawsuits in 2008 for the same fraud they are being investigated for today.

Anonymous
#241397

FACT, Bankers is being investigated by the federal gov, US Senate Special Committee on the Aging in Washington DC. FACT, Bankers top CEO's have quit due to this investigation. Bankers has been exposed for running a pyramid scam company targeting the elderly. FACT, Bankers is being investigated for fraud on seniors bank accounts automatically withdrawing expensive premiums and increasing fraudulent charges. FACT, Bankers policies are worthless!! Many, Many seniors can not afford these premiums which leave them with limited funds to afford medication and food. FACT, Bankers agents uses scare tactics on seniors to keep their policies, again that they can not afford!! FACT, Bankers sells worthless policies to seniors who do not have the capability to be making financial decisions, Alzheimers, Dementia and any mental disabilites are main target clients for Bankers agents.

FACT, if you are a moraless, spineless, predatorial thief without any respect for the elderly, then yes, Bankers is the job for you. If you can look at your elderly parents, grandparents, and family members and honestly say that you would not care if someone took advantage of them, robbing them for their own financial gain, then Bankers is the job for you.

Bankers is a ponzi pyramid scam that targets the elderly and are looking for desperate job seekers to also scam. FACT, Bankers is a scam on seniors just like the scam Bernie Madoff pulled finacially on his clients.

Most job seekers are not desperate enough to sell their soul to the Devil for Bankers pennies on the dollar commissions. FACT, for all the families YOU and Bankers agents have scammed, He-l will be your final destination, FACT!

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