My son is currently being interviewed by Reliable Life Insurance, and I am curious what people's experience have been who have worked there. Googling has not been very helpful. Is there a site which employees can go and talk about their experiences with companies?
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Toxic atmosphere, top heavy management, with focus on office politics.
Claims adjuster (Former Employee), Hamilton, ON – February 27, 2012
Pros: good benefits, flexible hours in some departments.
Cons: poor management, poor salary, high stress due to politics (vs. actual work load)
The company is extremely top heavy with zero room for advancement, only the occasional lateral movements. For example, one department has 3 supervisors managing 12 people.managementre mangement team repeatedly says one thing, while doing the opposite and inspires no confidence. The pay is poor, with senior level claims adjusters making less than an entry level receptionist at a competing company across the street. The company does have decent benefits/pension program.
BAD employer Complaint Rating: Reliable Life Insurance
I have worked for Reliable Life Insurance for a year now. It's the biggest employment mistake I have ever made! I had worked my way up and was making very good money until the company decided to discontinue the sale of house insurance. Their right to do this, probably a good business decision. BUT, they did nothing to help the agents. So, every house that lapses costs me hundred of commissions, and with little chance of selling the life products, an agent goes broke quickly. Agents making $700-100o/wk. and more are now making $300-400/wk. Yes, you read that right. I have a new job to start in a few weeks thankfully. And you pay your own gas, postage, etc... DON"T let them pull you in with promises of $1000/week. It's not going to happen. If you make $500-600, you're a good agent. There are so many ways they screw the agents, it's sad.
Any advice for someone trying to get in?
Yeah. Dont do it! This job has far too many pitfalls. 6months after I went onto my book, I went from 1k a week to 400 dollars. I had good arrears. Due to the new "growth"contract, you WILL NOT be able to make money. One bad month with bad lapse and you WILL LOOSE EVERYTHING! You get penalized when someone dies, you get penalized when a policy gets paid for, you get penalized every way you turn. Sometimes if you loose a new client (and you will) you are forced (defacto) to pay that premium just to keep your pay up. You are at the mercy of your clients. In most cases, your clients are not the best of humanity! We arent going to talk about the fact that you pay your own postage to send mail to your people (required) or the amount of gas you expend.
When you get home at 8pm, you STILL arent done yet! You have to do paperwork!
Do yourself a favor. If you want to do insurance, go with a REAL insurance company. Not one with a 44% complaint rating (most have about 1-4%). I realized how screwed up this place was by the 2nd month I was in.
You have been warned. This company is a "pay to stay" job. It cost me more to stay than to leave!