• Report: #1013975
Complaint Review:

Bankers life

  • Submitted: Wed, February 13, 2013
  • Updated: Fri, February 15, 2013

  • Reported By: Bobby — van nuys California United States of America
Bankers life
chatsworth chatsworth, California United States of America

Bankers life Follow your heart BUT take your brain with you . chatsworth, California

*UPDATE EX-employee responds: ..Take your brain with you ???

*UPDATE EX-employee responds: Horribly Unaware

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I was one of those people who got a call and because I wanted to make sure if this is what I wanted to do,  I googled it first, as soon as I saw some of those bad feedbacks I didn't show up for my appointment.  Not for first time, or the second time.   By the 3rd time they called me, I told myself, let me just go and find out for myself.  I'm a smart man and I know what's good or bad for me anyway, to make the story the short , I showed up.   

Yes, it was a long process.  For 1 hour I was being interviewed by them and were being asked  all of those questions. I had doubts and started to remember the things I've read online but guess what ? They called me back the same day and said that I was qualified and that the Regional Director wanted to see me and make an offer to me.  I was pretty happy with the offer.  I started as an SUV ( Unit Sale Supervisor)  with a  very good salary and full associate benefit like 401K, health, life vision, Dental and much more.  I have to say that this company actually helped me pay off all my debt in the first 6 months.  the override of the 24 agents that they handed to me + commission of my own sale  + quarterly bonus!  I even made my own limo company last year called firstLaLimo and do have my own business right now and I owed it to Bankers . 

You know what VENESSA , the lady started your review with "Scam , stay away ."  If this company was a scam they wouldn't survive for 134 years in this economy and have 1.4 million policyholders in the seniors market . Think 2 twice before you post something specially when nobody check to see if you are right or not on this kind of website . 

I am not saying Bankers doesn't have bad apple (every country have , many religions have it , any company has it ) or it will work for everybody who gets hired but it's like college , there are so many students in the class in the first week of school but before midterm starts, half the class would be gone and guess when they go to "ratemyprofessors.com" those are the ones saying,  " The teacher sucks! ",  " The class was horrible."The Teacher doesn't know sh**t." "  he/she failed me ".  

This is human nature all of us love to blame others for our failure.  The people who always say "I made it " is because they love to get credit for themselves .   Bankers really changed my life in so many different ways  and I'm glad one time in my life I didn't care what everybody thought.  You don't see a lot of good feedback on here for people like me or those hundreds of people whose dream began finding the right job, why?.. because we are so busy making our dream come true and making money that we don't have time for Yelp or whatever website where everybody can put anything they want.  People spend too much time finding other people to blame, too much energy wasted finding excuses for not being able to do what they are capable of, and not enough energy for putting themselves on the line, growing out of the past, and getting on with their lives. Let us accept our own responsibility for our future.

If You wanna know if Bankers is one of those MLM company that recruit you to get to your family and friends to sell their product, my answer to you is absolutely NOT . Bankers have their own lead generation and own TV commercial ( Colonial Penn company is one of their company you see on TV every morning and evening ) and they provide FREE leads to all their sales representatives and agents and they are a real corporate America that works with the retirement market since 1879 and the reason they are opening new offices every month is because on January 1, 2011, as the baby boomers begin to celebrate their 65th birthdays, 10,000 people will turn 65 every day--this will continue for 20 years and they are Bankers's market from 134 years ago and  they offer a comprehensive portfolio of insurance products including long-term care and life insurance, annuities, and Medicare products including supplement plans, Medicare Advantage Plans and Medicare Part D prescription drug coverage and retirement products that especially designed  for seniors.  Anyway, I love what I read from this lady here:  sometimes in life you need to take a Leap of Faith . Just believe in destiny. Don't care what other people say. Just follow your own heart  BUT take your brain with you .


This report was posted on Ripoff Report on 02/13/2013 10:19 PM and is a permanent record located here: http://www.ripoffreport.com/reports/bankers-life/chatsworth-california-91311/bankers-life-follow-your-heart-but-take-your-brain-with-you-chatsworth-california-1013975. 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 UPDATE EX-employee responds

..Take your brain with you ???

AUTHOR: former employee - (United States of America)

This is am obvious puff piece that was planted here.
  There are so many falsehoods in this poorly written joke of a USV (Unit Sales Supervisor)
 First of all... you don't start as a unit supervisor... secondly ..you are not Given a unit.. (especially a unit of +20 agents to start). You mention "leads" are free... that's a lie... in addition, the "leads" have been called over and over and over....The products that Bankers and Colonial Penn sell are expensive  and weak compared to all of your competition.  The Company itself has gone thru at least two different Bankruptcies and 3 different name changes ( look up green tree financial or CONSECO  ).

 The "sales Training" is a joke- one in which was reported on National TV on "Inside Edition"..which you can google and watch it.  The Management team is also a joke, and when an agent leaves, they replace or twist the agent's written policy's with new one's so that a new commission can be made - then they go after the former agent for "advances" .
 I am sorry to say I was with this operation for 1 year and we had hired 162 new agents and kept 4 of them.  I don't need to make excuses , as I was in the industry long before this 'Operation" and am still in the industry now.  I regret ever getting involved with Bankers / Colonial Penn or CNO Financial. My suggestion is to stay away from them if you are serious about your career.
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#2 UPDATE EX-employee responds

Horribly Unaware

AUTHOR: Not happy - (United States of America)

As far as your story, it's very believeable that you made it decently far, especially seeing how you started as a Unit Supervisor, and not an agent. To start off, I was employed with Bankers for as long as our savings would allow. With a lot of hard work and many applications under my belt, Bankers left me with a very unsavory taste in my mouth.

To begin, the difference between Unit supervisor and agent is, you get paid off of agent commissions as well as your own. You also get benefits. Do agents? No, absolutely not. We make COLD CALLS from lead cards that had been printed from a database which is shared with EVERY competing insurance agency in the area. It even reads on our leads that they were printed from a database that other insurance agencys get leads from  as well, so time is of the essence.

After spending over $1000 in insurance licensing, gas to and from the testing sites, fingerprinting, and a 4 day stay in a city 3 hours from home that wasnt reimbursed by the company gas to and from every appointment and maintenance on my car and all of my pending still (after 35 days+) hasn't been processed, I am in the hole $4,400.... That was just the first 3 months...Wow.

So as far as you having a good experience, of course you did. It's a pyramid scheme with the benefits of having an insurance that with a lot of calls to customer service will pay in the event that your customers need to use it. But would I consider it a good use of my time...No.
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