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Reply to Bankruptcy - can I be an agent?     
Old 08-11-2008, 10:22 PM   #1
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Bankruptcy - can I be an agent? Bankruptcy - can I be an agent?
I am considering starting a new career at age 57. My wife and I each had a business fail in 2007 and had to file Chapter 7 personal bankruptcy. I think that insurance sales may be a way to quickly fund some sort of retirement income through renewal commissions. It also seems that getting into insurance for seniors, I would be in an expanding market.
My question is this: will my recent bankruptcy be an obstacle to getting a license or a stumbling block to hooking up with an agency for training? I understand that a background check is SOP. What are they looking for?

I'm grateful for all advice !!
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Old 08-11-2008, 10:26 PM   #2
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Bankruptcy - can I be an agent? Re: Bankruptcy - can I be an agent?
Maybe not - depends on the carrier.

After you have looked around and still can't get appointed - I can hook you up with a life and health connection with ok commissions.

Good luck.

Tom
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Old 08-11-2008, 10:27 PM   #3
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xrac on Bankruptcy - can I be an agent? - Insurance Forum
 
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Bankruptcy - can I be an agent? Re: Bankruptcy - can I be an agent?
Originally Posted by 10moreyears View Post
.....My question is this: will my recent bankruptcy be an obstacle to getting a license or a stumbling block to hooking up with an agency for training? I understand that a background check is SOP. What are they looking for? I'm grateful for all advice !!
You can get licensed but you will have a hard time finding a a career company that will hire you. You can probably get appointed and work as an independent or find an INDY agency who will let you work on an as earned basis. In talking to any company I would be very upfront about the problems that you have had and put it in the best light possible.
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Old 08-11-2008, 10:30 PM   #4
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Bankruptcy - can I be an agent? Re: Bankruptcy - can I be an agent?
Most likely you can't get appointed with Golden Rule, seen two guys crash and burn with them.
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Old 08-11-2008, 10:48 PM   #5
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Bankruptcy - can I be an agent? Re: Bankruptcy - can I be an agent? 10moreyears is the thread starter for: Bankruptcy - can I be an agent?

Thanks for the comment.
What do you mean by 'career company'??
As you can see, I'm a real newbie!
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Old 08-11-2008, 10:51 PM   #6
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Bankruptcy - can I be an agent? Re: Bankruptcy - can I be an agent? 10moreyears is the thread starter for: Bankruptcy - can I be an agent?

Tom

I've been talking to a branch manager with Penn Life.
I haven't mentioned the BK yet though.
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Old 08-12-2008, 06:28 AM   #7
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xrac on Bankruptcy - can I be an agent? - Insurance Forum
 
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Bankruptcy - can I be an agent? Re: Bankruptcy - can I be an agent?
Originally Posted by 10moreyears View Post
Thanks for the comment.
What do you mean by 'career company'??
As you can see, I'm a real newbie!
A career company is State Farm, Farmers, New York LIfe, Met Life, Guardian, Norwestern, Mutual of Omaha, etc. where you have an appointment with them as one of their agents. With some of these companies you may be able to sign up as a broker on their products but they probably wouldn't hire you as an agent. A bankruptcy makes it much harder to get a job in insurance although doable.
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Old 08-12-2008, 07:51 AM   #8
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patch36 on Bankruptcy - can I be an agent? - Insurance Forum
 
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Bankruptcy - can I be an agent? Re: Bankruptcy - can I be an agent?
Check out more options than Penn Life. In your area I would go in and see the people at Gordon Marketing. They are in Indy and cater to senior market, have good support and can answer your questions. I know several agents who have filed bankruptcy and had no problems.

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Chuck



If you think your boss is stupid, remember: you wouldn't have a job if he was any smarter.

John Gotti 1940-2002


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Old 08-12-2008, 08:17 AM   #9
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taterpeeler on Bankruptcy - can I be an agent? - Insurance Forum
 
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Bankruptcy - can I be an agent? Re: Bankruptcy - can I be an agent?
First off bud... I feel offended by your comment that this industry is a "quick" way to earn money... are u out of your damn mind? People with that attutide are what cause clients to not trust us.... I predict u will sink faster than the boats at perarl harbor.... this market takes years of stroking in order to et an income that will approach paying the bills... for anything.... that sling it against the wall mindset is whats wrong with this industry.

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I can't spell, I can't write..... and I can't be bothered if you dont like it.

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  Reply With Quote to Bankruptcy - can I be an agent?
Old 08-12-2008, 08:51 AM   #10
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somarco on Bankruptcy - can I be an agent? - Insurance Forum
 
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Bankruptcy - can I be an agent? Re: Bankruptcy - can I be an agent?
Charlie don't hold back. Tell us how you really feel.
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