Webhe alleges that his hiring by bankers life was part of a pyramid scheme in which bankers life hires more agents than it needs in order to exact the fees it charges new. Web5 days ago · bankers life has an overall rating of 3. 5 out of 5, based on over 2,577 reviews left anonymously by employees. 59% of employees would recommend working at. Webjun 29, 2016 · no it is not a pyramid scheme. It is a major insurance company's way of using new recruits to weed out…