Not resolved

Bottom line, Bankers Life preys on the elderly. They are seeking so many new agents for their own capital gain on a very high pyramid scheme. You will be hired, as a pawn, to go into seniors homes, as a door to door salesman. Most of these elderly people do not have the mental capacity due to their age to be making financial decisions. These seniors DO NOT need a policy from Bankers to start with. They have an income and health benefits from their previous employers and medicare that takes care of all their health needs. Banker's policies does not give them any better health care or allow them to be in any better nursing home, the policies are worthless!! You will be trained like monkeys in a cage to use all the proper words for these seniors to trust you. You will be brain washed into thinking that you're helping these elderly people with long term and death policies which only cost a measely one hundred dollars a month. What you don't know is what happens to these folks after the sell. These policies you're selling are so full of loop holes and will never pay off. The one hundred dollar premium policy turns into five or six hundred dollar policies. The premiums far beyond any benefits. The elderly usually don't know what hit them because this money is automatically withdrawn from their bank accounts. These seniors know that they don't have any money but they're not sure why. Most of them think that they have to have or keep Bankers Life insurance, so they don't know to cancel. These elderly folks go without medication and food because of these expensive premiums. The scam is up when the children of these folks finally take over their parents finances. The first person they'll come looking for is YOU as the agent. You will not be able to back up this policy nor will Banker's Life back you up. When you sell this policy, you will make a small commission per policy while the CTO's (top of the pyramid) will benefit for as many years off of these poor elderly's expensive premiums. When the family finds out, this is when Banker's will give them the run around, be rude, and hope like he-l they'll get tired of fighting with them and they go away, Banker's wins! This is also the reason they are trying to recruit so many new agents, the more agents they have the more the pyramid grows, but you also have to understand that once you're called out by the family, the heats on you. It's your fault that Banker's is having trouble with this family, because evidently you didn't do your job right. So between the family and Banker's, you'll quit. Sounds easy enough to quit, but stop and think about the money you scammed out of Banker's elderly, money that they would have had in their own savings for their health care, but now is in the pocket of Banker's CTO. The elderly's family is struggling, usually mortgaging their own homes to get their mother or fathers care paid for. As for you, you were nothing to Bankers but a "pawn", you were the "puppet" but now you're out of a job and no money because you'll never make the pyramid.

If you have morals, if you value our seniors, if you think about your own elderly family members, then tell Bankers to go to he-l. I don't know how the US government can allow this company to scam so many of our seniors, but it's gone on for years. There has to be a pay off somewhere. As far as insurance commissioners in your state, Bankers isn't scared of them, again, has to be a pay off.

When Banker's employees take their last breath, their bank accounts won't buy the Main Man that hold their last contract.

Good Luck job seekers! Don't waste your time or lose your integrity with this useless, worthless company.

Review about: Bankers Life And Casualty Company Life Insurance.

Monetary Loss: $20.

Do You Have Something To Say ?

Write a review


Terms of Service
Post Comment

I read these comments and cringed. I am in the middle of training for Bankers and am astounded at the amount of work it requires. I'm also impressed at how much they stress integrity and knowing the laws governing insurance.

What's more astounding to me is the majority of these comments. Every business is going to have upset customers. Many of you paint Bankers out to be these cloaked, evil people stealing old, sick people's money in the dark of night and letting them die poor.

Check out the BBB's rating - A+. Why? Partly because the way the company has responded to complaints.

Anyone who has company reps hang up on them four times might want to look in the mirror.

Sure, every company has some "bad apples" working as agents, managers, etc. But if they were all as bad as depicted here, there'd be no company.



The truth hurts doesn't it? You are a Bankers agent trying to stop the reality.

IF your mother and MANY relatives have a policy you'd better get them a different one, but that would take getting wheened off the koolaide. Forward this link to them again. They don't care. It's the truth.

It is what it is. They budget for lawsuits, check their K-8 filing. They have plenty of them in the works, not to mention the Senate investigation on aging.

Then there's the agent class actions, the shareholder class actions, the individual lawsuits, the multi state fines. The comments here are not well earned, but deserved, and are somewhat tame compared to the actuality.


Anyone can go online and lambast a good company, you also need to be aware ANYTHING POSTED ON A PUBLIC CHAT ROOM can be used in a court of law. I would be very careful what you say here as I have forwarded this link to Bankers in Chicago.

My elderly mother and MANY elderly relatives have used Bankers for about 20 years and counting and they could not be any more satisfied.

Agents care and the company is rated very strong on the ability to handle and pay claims. Just sayin...!!!

to Gary - Kansas #922393

No one here cares. Freedom of Speech.

Look into it. And truth is an absolute defense to any claims of libel or slander.


Thank you all for this information. I have an interview on August 4th.

I am not attending....Hate scammers.... The person with the problem with everyone's spelling should get a life......People that are posting are maybe alittle pissed.....


I don't understand why people complain about having to pay their own licensing fees. Your license is between YOU and the STATE, not the insurance company.

What if they did pay it, and you decided to work for their competitor?

Most good companies provide training and materials for free. People spend TIME with newbies in order to help them be successful, and that time is costing those veterans MONEY. When you work on a commission-only basis, you are basically working for yourself, and contracting with certain companies to sell their products.

Why shouldn't you be responsible for your own licensing fees? When you become a real estate agent, you have to get your own license; no difference!

to A comment about licensing fees Columbia, Missouri, United States #913437

Agreed! A lot of people do not understand the idea of being self employed and the opportunity that a full commission career could provide for them. As well as being backed by a company that has been around since the light bulb!

to A comment about licensing fees #922396

The reason people are upset is because most don't realize they are going to a presentation on selling insurance! They are made to believe they have an actual 1:1 job interview for a salaried or hourly position. The ads are misleading a lot of the time.


Well there is nothing on the BBB website. Not for the one in my area anyway. Not BBB rated and no complaints in 36 months.


First of all it seems group interviews is the thing nowadays. I even went to one like that for a large bank.

I think Rob is talking about American Income Life. Just went to that one this week. The presenter boasted his A+ rating with S&P 500. Also said to check out

Well I checked out the S&P rating AA- and not A+ as claimed. I have the Bankers thing today. Also met with Aflac and they want you to pay for the licensing school as well. You get reimbursed after 5 sales.

Just on the classes, not on the licensing fees. I think I'm going to the BBB like someone suggested. Oh and the big well-known companies aren't much better either. I passed the aptitude and personality test, just went to what was presented to me as a class.

Guess what? I can't get my final interview until I provide a list of 40 names minimum to test my prospecting abilities. Then I find out the training stipend is less than originally claimed and you don't know if you're considered full or part-time yet.

Lots of po'd people in that meeting. Pass!


Here is what everyone should do. There is nothing to loose by agreeing to the meeting and not showing up, except their frustration when their meeting room is empty, just like their heads. All of these are pure pyramid schemes.


I got the same e-mail for an interview - after I posted my resume on, I think. I was just on the Banker's Life websit. Look at their credit rating. With this credit rating their financial security and ability to pay up on annuity's is in question. I'm not planning on going now to the interview.

A.M. Best Downgrades Ratings of Bankers Life Insurance Company; Revises Outlook to Negative

- 2009-06-26

Wireless News 06-26-2009 A.M. Best Downgrades Ratings of Bankers Life Insurance Company; Revises Outlook to Negative Type: News A.M. Best Co. has downgraded the financial strength rating to B- Fair from B Fair and issuer credit rating to "bb-" from "bb" of...


Well i got the call on friday. If what all you say is true, I should go and speakout against them.

I can not beleive they take money from the elderly.

I have worked in a legitamit insurance agency. And I will be calling them later on today to find out more.


This post is for Kevin. If you're going to post something defending your company you may want to double check your spelling and grammar.

I have a hard time believing someone who can't even write properly. Thanks.


I just received the same call to come in for an interview. I am glad that I took the time to look into this before spending any real time preping for this interview.

Thank you for the info. This was very helpful!


Wow...after reading all of you guys comments...I'm not so sure about attending this "interview" anymore..and my interview is monday morning...I think I'll pass on this one because I would be beyond pissed if my grandma was ever scammed by these fools!


Doesn't it occur to anybody that this site is the scam. how do you know the people complaining on here have a legitimate complaint.

This site allows anyone who pays the fee to have the complaints against there company to be wiped clean, all for a fee. I would be hesitant to believe anything on these types of sites, check with the Better business Bureau or the Insurance commission.


I hear ALL of you all complaining about the SCAM of this thing. And, this is NOT the first "insurance" company to contact me, either.

There was another a few months ago to be wary of. American something or the other - can't remember just right now. They BOTH contacted my via phone and email. Said they'd seen my resume' online and talked up all that HR and management stuff.

Now, here's the only prob with THAT.....I'm an ENGINEER!!!!! WHAT do insurance companies want with me? Another guy I worked with actually went to the "first" interview. They'd told him to "dress business-like" and all that ***.

Sound familiar to any of you who have fallen for this? He also came across the same ***. Room full of about 20-30 people and, after the 'presentation', they're busy hitting people up for start-up kit costs. Sounds an AWFUL lot like that SCAM Amway to me.

If you make a mint at it, great for you. I won't have a thing to do with ANY of it.


Thanks for the warning . I just got a call from them. And thankfully I am savvy enough that when I get a call from someone who saw my name on the internet I need to check them out !


Thank you for taking the time to write your comments. You had saved me a trip, and time to get prepared for this interview.

It is so heartbreaking to see people taking advantage of our seniors, who knows who are behind them, why they've been able to get away with this and how they are profiting in return. God bless!

You May Also Like