September 4

by Michael Granados

Are you preparing for your future retirement but haven’t protected your financial security yet? 

What if you were built a plan by an exceptional insurance agent that provides you with security and peace of mind 24/7 7 days a week for the rest of your life?

Welcome to this Bankers Life Review where I “Michael Granados” will be “exposing” the TRUTHS no one else is telling you, the pros and cons, alternatives and so much more you need to know...if you want to Truly have a secured retirement. Listen, there are a lot of steps to retirement and you shouldn’t have to worry about medical expenses during crucial times…

That’ll conjure up more worries you just don’t need at your age. OH YEAH, and if you’re here trying to learn about the “job opportunity” as an insurance agent, I have you covered too! 

Let’s not waste any more time and get into this.

What Is Bankers Life?

Bankers Life is an Insurance company that provides pre-retirement and retirement products to people of age 65 and over. These products include long-term care, life insurance, annuities, Medicare products including supplement plans. They help aid in your retirement income, health expenses, retirement care, and final expenses. Bankers Life is a primary subsidiary of CNO Financial Group, Inc.

Now let’s go deeper inside.

Going Inside Bankers Life

The difference with Bankers Life, as opposed to most other insurance companies, is not only that they focus on pre and post-retirement plans but they actually sit down with you face to face to cover what you’ll need and what’s best for you.

In fact, through a very simple interactive discussion, the insurance agent will gather information about four factors:

  • Retirement Income
  • Health Expenses
  • Retirement Care
  • Final Expenses

With an agent sitting side by side and your cooperative help, you’ll both build a plan that helps provide security and a peace of mind, so you can finally enjoy all the perks and joy of your retirement.

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Bankers Life Products

I mentioned the products earlier but let’s list them here:

#1 Medicare Supplement Insurance

Did you know Medicare supplement insurance is sold by private companies? 

This type of insurance can help you pay for out of pocket health care expenses that Medicare itself does not cover, such as:

  • Deductibles
  • Coinsurance
  • Copayments
  • Outpatient services

Here’s a video on this plan:

#2 Life Insurance

If you’re unsure of what “EXACTLY” Life Insurance is and does, it offers a way to provide for your loved ones. It will pay them a lump sum of money that can protect them from the financial impact of your passing.

#3 Long-Term Care Insurance

Long-Term Care Insurance is a the type of assistance everyday people will need when they can no longer perform basic activities of daily living such as:

  • Eating
  • Bathing
  • Dressing or
  • Taking medications

#4 Supplemental Health Insurance

With Supplement health insurance, it complements your major medical insurance to help you and your family be and stay protected from costs associated with serious illness or hospitalization.

#5 Annuities

An annuity is a financial vehicle designed to help you accumulate money for your:

  • Retirement
  • Protect what you’ve saved or
  • Turn your retirement savings into an income stream

Banker’s Life Service And Support

Fortunately, Banker’s Life brings you exceptional service with their 24/7 online account management or whether you need to talk live with a friendly customer service professional, they have your back.

You can view things in your portal such as:

  • View and manage your policies
  • Access, Download and print forms
  • Upload short-term, long-term and home health care claim documents
  • Review your benefits and policy values
  • Make your payments

If you’d to learn more about the customer service page, click here to see.

Banker’s Life Careers

Did you come here today looking for an online job opportunity?

Here are the positions’ Bankers Life offers you:

  • Insurance agent
  • Sales Management
  • Financial Representative
  • Corporate career

They offer competitive commissions, bonuses, a first-year performance-based program that can provide you up to $12,000 in additional commission and other incentives.

The average insurance agent's average hourly pay rate is $23 per hour and for a Sales Representative, it is $65 per hour. So take that with a grain of salt. As far as the lowest paying job at Bankers Life is sales with a salary of $54,578 per year.

Banker’s Life Commission Plan

As a Banker’s Life insurance agent, you will earn commissions on the products you sell with no cap on your annual earnings. Plus, most of the products offer renewal earnings throughout the life of the policy, which then helps you build your income over time.

Agents get the opportunity to earn up to $240,000 in bonus money. And you also get the opportunity to travel to exciting destinations and win great prizes for being a top performer.

Bankers Life Pyramid Scheme?

I get this question all the time in my emails, and my messenger chats - Is Bankers Life a Pyramid Scheme? Or Is it some type of a scam?

No, Banker's Life is not a pyramid scheme and it isn't a scam. By definition, a pyramid scheme is where there are no products involved and the sole purpose is recruiting to earn money.

The reason people ask questions like these is because of the “Recruiting” aspect most insurance companies have and many others through Multi-Level Marketing.

And in case you are unfamiliar with MLM’s, they are a type of business model that can have products but focus heavily on recruiting new agents to their program.

Bankers Life Reviews

Bankers life reviews
bankers life testimonials

Here's a bankers life complaints I found on Trustpilot:

bankers life complaints

How Much Does Bankers Life Cost?

If you’re looking at their insurance, it depends on each plan and person but they are reasonably priced. For the career opportunity, you don’t have to play, you can just apply for a position.

Who Is Banker’s Life For?

Bankers Life is designed for people 65 and over who are preparing for retirement and post-retirement and want the best insurance products to help them live a sustainable life.

Here’s more:

  • Elderly 65 and over who want very flexible and affordable health care coverage
  • You’re looking for different insurance areas to be covered in
  • People looking for a 9-5 job as an insurance agent or in the other positions

Who’s It Not For?

  • People under 65 years of age
  • People who don’t want to be a part of an “recruiting” type structure
  • People who don’t like insurance

Pros And Cons


  • Pre and Post retirement focus and amazing help so you can get the best action plan to help you get the most flexible and affordable options to live a comfortable retirement
  • Great Products and product planning in your retirement income, health expenses, retirement care, and final expenses so you can have flexibility and many options to take care of your health and wealth no matter what happens.
  • Unparalleled support so you can have customer support being there for you 24/7 and have a customer portal to view your policies and all your information which means you'll always feel safe and secured.
  • Careers so you can find a position you will thrive on and be able to help people 65 and over get great insurance coverage.


  • Too much recruiting focus as part of their MLM type of culture.
  • Selling insurance can be hard if you're just focused on one company.


There are definitely more insurance companies out there but as far as for age 65 and older goes, Banker’s Life is the best in my opinion. But a few others I’ve covered are:

As far as a career in insurance goes, I believe selling life insurance with only one company runs you the risk of losing sales and being able to close higher sales ratios, here’s what I mean.

The field is already very competitive, and no one insurance company has the best prices and underwriting. Although I don’t focus on insurance anymore, I do believe there’s a FAR greater career you can get into that is NOT another “9-5 Job”, rather, it’s a business opportunity to be your own independent loan broker agent helping small businesses get alternative business capital…

Here’s my #1 recommendation for that:

With this program you can join for free and start getting paid high ticket commissions ($100’s upon $1,000’s) for simply referring people to an application and getting approved.

You can build p commissions really fast, especially with the right game plan and done-for-you services. If you’d like to learn more about the partner opportunity, click the button below to check it out:

What I Liked Most About Bankers Life

There are plenty of things I liked but as far as my favorite one goes, it would be the Unparalleled support you get from the customer service team and from the agents.

You get 24/7 support, a portal for you to review your policies and make sure everything is in line and from an agent's point of view, they actually meet with you in person and help you out thoroughly.

What did I like Least?

I don’t like the Insurance agent “MLM” recruiting style and how you don’t get a more open variety of products for different age groups which can be fine from a niche perspective, but Insurance is already competitive and you’d want to expand into more products for different demographics.

Final Thoughts

What was your favorite part about Bankers Life? Did you spot something you didn’t like at all?

Insurance coverage is fundamental in helping you secure your pre and post-retirement and it’ll allow you to feel less stressed and worried about being in the “unknown”.

No one should struggle to find the right insurance policies for their needs, especially at the age of 65 and over, that’s where health coverage becomes even more important…

And with Bankers Life you get flexible and affordable options to cover your back at all times for the long-term. Also, they have careers you can explore if you’re interested in selling life insurance and wanting an opportunity to work from home, OR…

There’s the opportunity to build your own business as an independent agent as a small business loan broker, and if you’re interested in checking out this opportunity, Click the button below to learn more.

Michael Granados

Michael Granados is an expert blogger and a 6+ figure-a-year affiliate marketer. As an expert, He's created a health and wellness brand as well enjoys helping others learn about different marketer tools, systems, and helping people achieve an awesome life personally, physically, and professionally.

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