• Report: #1083506
Complaint Review:

Banker's Life & Casualty

  • Submitted: Tue, September 10, 2013
  • Updated: Tue, September 10, 2013

  • Reported By: Agent 202 — Moorpark California
Banker's Life & Casualty
901 Oakdale St Chatsworth , California USA

Banker's Life & Casualty Colonial Penn Bankers Lies about possible income and Over recruits Agents essentially causing their market to be over saturated. Chatsworth California

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 Bankers is constantly recruiting new agents. the goal is to reach 200 or more agents And North Hollywood Offices. Their primary market is described to be the Baby Boomers. Every Day 12,000 Baby Boomers reach retirement age. What Bankers neglects to tell is that of 12,000 Baby Boomers only 34 can actually be contacted by the two offices. There is 12,000 baby Boomers, 2000 of them live in California. Of that 2000, 667 live in Los Angeles. 90% of these people are listed on the Do Not Call Registry leaving only 67 to call. The two offices cannot contact all of LA only about 50% of these people. That leaves 34 with a chance to call.

Every other day the agents in the Office are required to make calls. Anyone who has a license is encouraged to make calls. The goal is 300 calls per agent per day. Each agent is given a list of numbers to call. These were  people from 65 to 89 years old. 200 agents making 300 calls per day equals 60,000 calls per day. Some days more some days less. Each agent is expected to get 6 to 8 appointments from this calling. Rarely do the agents make that many appointments.

The people who are not on the do not call registry can expect to receive 12 to 15 calls per month. Most of the people either are not home or do not answer. The phone areas reached by the agents have been overmined to the point that the people know the scripts almost as well as the agents.

We were told that the average agent makes $5000 to $6000 per month. In Actuality. the average agent earns a lot less. For the Month of august the 1290 Office had $207,000 in commissions earned by 146 agents. this works out to $1467.00 per agent. At least 10% of the agents did not sell any thing and then there are the agents making calls that are not assigned by Banker's yet. For the agents who wrote business their sales averaged under $18.000 per year. Bankers runs agents through their offices, hiring ten to 15 new agents per week because the they lose almost that number each week because as Saeid Khadivian the Manager in charge says they have bills to pay. 

Bankers has overworked its territory so badly that it is impossible for any agent to make a living.  The stated goal is to increase the number of agents to 200 in both the Chatsworth and North Hollywood Offices.

This report was posted on Ripoff Report on 09/10/2013 10:14 PM and is a permanent record located here: http://www.ripoffreport.com/reports/bankers-life-casualty/chatsworth-california/bankers-life-casualty-colonial-penn-bankers-lies-about-possible-income-and-over-recrui-1083506. 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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