Bankers Life Insurance
Complaint 95323 Details

If you attend a job fair or are offered a 'job' by Banker's Life Insurance, STAY AWAY !
What they do, is pull in 30-40 people (anyone who is breathing), tell you that they will get you licensed to sell final expense life insurance AND that they will provide you leads.
Here's what you'll go through:
1) an 'interview' with about 40 people. This is actually a lecture, not an interview.
2) you'll get called back for a 2nd interview
3) if you're called back for a 3rd interview you have the dubious honor of having been selected and 'hired'. It will cost you between $300 and $400 to get trained to take your state's insurance exam.
4) After you pass your exam you'll have to sit through 5 days of 'sales training'. The purpose it to teach you to be a telemarketer and cold call people who have NOT requested any information. FURTHER, IT'S BAIT AND SWITCH. They will teach you to say ' hi, I'm XXX calling from Banker's Life (or Colonial Penn) and I want to set up an appointment with you to discuss the recent changes to Medicare.' You book the appointment. Usually the people are not home. If you get into someone's house, you have about 5 different insurance applications with you and you don't discuss Medicare, you sell them everything under the sun !!!
5) the sales pressure is intense. If you don't sell so much in 3 months you get fired.
Their object is to get agents to sell some policies, but it's in your contract that if you leave or they fire you they don't have to pay you, and you also don't get the renewal fees.
STAY CLEAR. It's a scam and bait and switch.