• Report: #370161
Complaint Review:

Bankers Life And Casualty Company

  • Submitted: Fri, September 05, 2008
  • Updated: Tue, October 19, 2010

  • Reported By:St. Louis Missouri
Bankers Life And Casualty Company
15450 South Outer Forty Suite 220 Chesterfield, Missouri U.S.A.

Bankers Life And Casualty Company Job and Training promises are Bogus Chesterfield Missouri

*General Comment: Sounds the Same Everywhere!

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This company contacted me via email in June while I was living in Louisiana. During my conversation with them they advised me they were interviewing for Customer Service Managers/customer service and other positions. Which I found out later was a lie. I drove 9 hours to attend what I thought was a one on one interview. Upon entering immediately the facilitator (my future supervisor) apologizes for the group setting stating they had so many applicants this would save time. We were told during the presentation that we had the potential to earn a minimum of $35,000 a year but our earning potential would be up to us. We were told training was substantial and that we would be assigned a field trainer. And that medical insurance was provided by the company. I was accepted for the job and was told a gentleman that made over $200,000 would be my field trainer. I paid to take the course to obtain my Missouri license and actually moved to Missouri to pursue a "career" with Bankers Life and Casualty. Once I received my license and started I was told we had to pay for insurance to protect us, we had to pay for our leads after three months, and we had to pay for any chargebacks (if the customer cancels).

Not only that, they don't provide medical insurance, I would have to obtain that individually. But outside of all that. The training was horrible, they switched my field trainer without telling me why, from someone that made $200,000 a year to someone who was "not even a field trainer". My first day on the job he left me on the phone alone, the first run I made with an agent they were an hour late meeting with the client. I tried calling the agent to confirm our appointment my calls went ignored. I then was told to set appointments and someone would be assigned to accompany me, the entire day no one from Bankers would contact me which meant my appointments were not handled. I know this is lengthy but please beware of this company. They lie to get you in the door and then you're left to fend for yourself. I never made a dime with this company only worked about week and half and was out of about $300.00. I had to quit. Even the agents admitted there were months they would go without making much money. One agent advised she had to stop renting and purchase a rundown trailer because she could not afford to pay rent on her Bankers salary. That told me a lot.

St. Louis, Missouri

This report was posted on Ripoff Report on 09/05/2008 01:49 PM and is a permanent record located here: http://www.ripoffreport.com/reports/bankers-life-and-casualty-company/chesterfield-missouri-63017/bankers-life-and-casualty-company-job-and-training-promises-are-bogus-chesterfield-missour-370161. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 General Comment

Sounds the Same Everywhere!

AUTHOR: OHara - (United States of America)

I am a new agent with another company and your story sounds so familiar!

I was also told of the earnings I could make but those have not materialized.  My last three weekly paychecks were $12, $14 and $2.44.  Like your experience, I was "trained" by ones who had absolutely no training experience.  My sales manager also has no experience as a sales manager.  I WAS a sales manager when he was still in high school!

No one who was tasked to train me ever listened to me give a presentation to a prospective customer.

One of these trainers tasked me with setting up appointments with businesses for the next day.  I set a full day's appointments but we never kept a single one of those appointments, not a single one!  We simply rode around in his car and visited various fast food joints for coffee and soft drinks.  I think he realized that if we kept those appointments, we would be setting up enrollments for several weeks in the future and he would not be there to cash in on them.  He left the company a couple of weeks after that.

The people "training" me were previouis to joining the company, a mechanic, a truck driver and a cabinet maker.  None had any previous experience in sales or training.  They had only been in sales from a few months to about 6 years.

The insurance industry depends on pulling massive numbers of people in.  They have what I call a "warm bodies/get lucky" approach.  That is, get as many warm bodies as possible in and maybe you'll get lucky and one of them will work out.  As a matter of fact, the President of my company has stated "We are not an insurance company, we are a recruiting company."  That seems to just about spell it out for the entire industry.

With this philosophy, they can not afford to give new agents meaningful training.  Three companies I have worked for have sent me to sales and management training seminars at a cost between $3,000.00 and $8,000.00.  With new sales agents only lasting for a few months on average, they simply can not afford to do this.  If the insurance industry would just be more conscientious in their hiring and give their new agents the training they need, they would have better retention rates and could afford to invest in their employees.  However,the industry has been like this for at least 50 years so I don't expect any change in the near future.  Only when the unemployment rate goes down and they can't find desperate people MIGHT they change.

Know what you're getting into before you jump!



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