Wanting to Become Ind. Agent in TX, DUI?

[TXAgentnumero1]

OK, so I'm interested in becoming an independent agent in TX but have some questions. I've taken a practice test and it looks like I can pass, but I'm concerned about the criminal background check.

The TX rules reference some of the laws and crimes that prohibit becoming an agent, but they mostly seem to be related to moral, ethical, or financial crimes or felonies. My DUI was a misdemeanor from a few years ago. Any one else have a similar situation.

Also, general question about doing the Independent agent thing. Mostly I'm looking at this as a side gig, able to sell a few policies to friends and family and myself, maybe some small marketing and advertising. How easy is it to become a registered agent with some of the AAA firms like Mass Mutual?

Also, how hard, really, is the exam in TX? the practice questions I've seen don't seem that bad. Did yall do a class or just study off a practice book?

 

[isaias]

The test is not that hard. If you can pass the practice exam you can pass the real one.

Where in Texas are you?

 

[TXAgentnumero1]

The test is not that hard. If you can pass the practice exam you can pass the real one.

Where in Texas are you?

Dallas.

Any thoughts about the past DUI? How to get connected to Mass Mutual?

 

[isaias]

I don't know that I have the answers that you want, but I'm also in Dallas and I'll be happy to help you in any way that I can.

 

[shawnmwalker]

TX agent,

DUI- No Big Deal.

Exam- No Big Deal.

Part time- Not cool. (This is not a fun game for a part time agent. After you pass the test, the actual learning curve is steep, too steep for a part time gig)

DFW right now- Not cool either. HAIL NO! (1.6 billion lost in the first storm)

Auto industry right now- Not cool. Industry is losing money like crazy. Their desire to expand their distribution channel right now is not too exciting. (When you are losing money by the truck load you don't go get a part time truck driver who owens a semi to help you lose more.


Note: I am shooting you straight. you may not like that. There will be some that will pray on you and your inexperience. Also Not cool. Ask 1 million questions before landing anywhere. PM me if needed.

 

[kgmom219]

TX agent,

DUI- No Big Deal.

Exam- No Big Deal.

Part time- Not cool. (This is not a fun game for a part time agent. After you pass the test, the actual learning curve is steep, too steep for a part time gig)

DFW right now- Not cool either. HAIL NO! (1.6 billion lost in the first storm)

Auto industry right now- Not cool. Industry is losing money like crazy. Their desire to expand their distribution channel right now is not too exciting. (When you are losing money by the truck load you don't go get a part time truck driver who owens a semi to help you lose more.


Note: I am shooting you straight. you may not like that. There will be some that will pray on you and your inexperience. Also Not cool. Ask 1 million questions before landing anywhere. PM me if needed.

Except he said Mass Mutual and you are talking about P&C

 

[txindyagent87]

Dallas.

Any thoughts about the past DUI? How to get connected to Mass Mutual?

Dui's don't prevent you from getting an insurance license. Had one in 2009 got licensed in 2012

 

[TXAgentnumero1]

Thank you for all the tips so far. So I've been studying a bit and still have just a few more questions.

I see there's several "Life" exams. but not really sure what is required for licensing. There's "Life, Accident, & Health", there's "Life & Health Counselor" and "Life agent" only.

Really, all I'm interested in is just doing some part time life insurance sales. I've got a pretty big network of young professionals already that I know i could close few policies on right away, on top of selling myself some policies. What is really required?

Also, for the test, how hard is it really? I've been taking a lot of online practice tests and getting about 80%, but the pearson site says its a big 3 hour exam...yikes. How much did yall study?

Lastly, for actually becoming connected w/ a life insurance company, I assume its 1099 work. Did yall start a S-CORP, C-CORP, or LLC for this? Does that corp have to be a TX corp? I've got ones in Delaware and Montana for some other side hustles, maybe I can use them? Or do you sign up with the companies in your personal capacity?

 

[DHK]

Without a link (and no, I'm not going to look it up) I'll guess what each of those 3 are:

"Life, Accident & Health" is the licensing required to sell life insurance, disability, critical illness, long term care, health insurance (including health, dental, vision, and group disability) and fixed & fixed indexed annuities. I'd go with this one just to get it all out of the way and have the ability to sell more products.

"Life only" is the license for selling life insurance and fixed & fixed indexed annuities. No health related products - disability, critical illness, long term care, health, etc.

"Life and Health Counselor" is usually the license for CHARGING FEES to analyze client's current coverage. Typically requires a few years of experience to even consider doing that one.


I studied for an additional week after taking my required 52 hour pre-licensing training. Passed with no problem, but I took it seriously.

I wouldn't bother with any additional forms of business until you are functional. There are only three real reasons for considering a separate legal entity:
1) You may have tax break advantages
2) You are hiring employees
3) You are contracting agents to work under you

Because this is a licensed career, there is NO additional asset protection available to you for your activities as an agent. That's why you are licensed - to show competency and accountability for your recommendations.

 

[texasagentnumber1]

OK, so I do have a question about controlled business. As stated previously, I've got a day job doing something else and would like to just be able to sell life on the side. For the first year, before developing a network, a lot of my potential contracts will come from myself and my family.

Do I risk just not getting license renewed? or will the policies not even be able to be written?

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Obviously, I assume that commissions won't be advanced immediately. I am not concerned about that. I'm more concerned about most of my book being 'controlled' in my first year because I'm not out hustling full time.