Life Agency Questions

[MINewBeginning]

I'm in the process of establish an agency, will focus on product sale and recruits. All agents are independent, they supplied their own E&O insurance. The agents will be given options to recruit agents for themselves and earn overrides.
I have some questions, and hoping for some answer.

1. Since the goal is to be licensed in almost every state, do I have to register with every state's DOI manually?

2. Let's say I establish the agency in MI and registered nationwide. Can one of my agent who is ONLY licensed in MI, recruit someone from another state, and also be able to earn commission from the sale it?

3. Since all agents have their own E&O, should I get an agency E&O or just one for myself?

Thanks in advance for the help.

 

[The Gimp]

I'm in the process of establish an agency, will focus on product sale and recruits. All agents are independent, they supplied their own E&O insurance. The agents will be given options to recruit agents for themselves and earn overrides.
I have some questions, and hoping for some answer.

1. Since the goal is to be licensed in almost every state, do I have to register with every state's DOI manually?

2. Let's say I establish the agency in MI and registered nationwide. Can one of my agent who is ONLY licensed in MI, recruit someone from another state, and also be able to earn commission from the sale it?

3. Since all agents have their own E&O, should I get an agency E&O or just one for myself?

Thanks in advance for the help.

1. You would go to NIPR Home Page which allow you to do them electronically. You can select multiple states at one time.

2. Yes. There some exceptions.

3. Personal is fine.