Can I still sell insurance...

[lacy_amy]

I was wondering if someone can give me some advice. I am taking the course to get my life and health insurance license next week. I would like to start out part time as an independt if possible. My question is, me and the hubby had gotten ourselves into a financial bind. We have a couple collection accounts one judgement and a some charge off accounts on our credit report. Will I still be able to get contracted to sell insurance?

 

[Mark]

I was wondering if someone can give me some advice. I am taking the course to get my life and health insurance license next week. I would like to start out part time as an independt if possible. My question is, me and the hubby had gotten ourselves into a financial bind. We have a couple collection accounts one judgement and a some charge off accounts on our credit report. Will I still be able to get contracted to sell insurance?

Yes, but you may have to start out on an as-earn only contract. Which means you won't get advancing. Usually after you have wrote a couple of good pieces of business, they will start raising your advancing limits.

Mark Rosenthal
[email protected]
www.realfastservice.com

 

[Crabcake Johnny]

If you sell health you'll be able to get advances through most of the carriers unless you have a recent BK.

 

[myinsurebiz]

Sure you can . . .

Maybe not with all carriers though.

May I suggest you start by marketing one product line - i.e. Final Expense, Health, MA's, etc.

Get good at one thing, start making some quick cash and then if that isn't enough cash for you - branch out.

Good Luck!

Tom

p.s. - Get the hubby licensed too and team up.

 

[lacy_amy]

Thanks for the responses.....I was worried about this because I was actually turned down with Farmers because of my credit report. I really didn't like they way that they handled it, so I've cleared up some things on my credit and moved on.

 

[joshril]

I have seen some agents with pretty bad credit get life and health insurance advances with no problems... I really don't think this is typically an issue unless BK is involved.

 

[xrac]

Thanks for the responses.....I was worried about this because I was actually turned down with Farmers because of my credit report. I really didn't like they way that they handled it, so I've cleared up some things on my credit and moved on.

You were probably turned down by Farmers because they want you to get the Series 6 and Series 63 and your credit would present an issue. Any outfit that wants that may be trouble for you. Going as earned with an insurance only outfit should not be an issue.

 

[lacy_amy]

You were probably turned down by Farmers because they want you to get the Series 6 and Series 63 and your credit would present an issue. Any outfit that wants that may be trouble for you. Going as earned with an insurance only outfit should not be an issue.

You are correct, that is why I was turned down by farmers. FINRA has strict credit rules on getting licensed for Series 6 and 63. My thought was that if I can keep my current full time job and get life and health licensed and sell independently on the side I can make the extra cash needed to clean up my credit. Then transitioning to selling full time after I have enough clients....

 

[joshril]

You are correct, that is why I was turned down by farmers. FINRA has strict credit rules on getting licensed for Series 6 and 63. My thought was that if I can keep my current full time job and get life and health licensed and sell independently on the side I can make the extra cash needed to clean up my credit. Then transitioning to selling full time after I have enough clients....

This is interesting to me... When I first got my Series 6/63 my credit was not great. I would venture to guess at that time my score was between 550-600... I had zero problems getting licensed. Is it the judgment that is an issue?

 

[lacy_amy]

This is interesting to me... When I first got my Series 6/63 my credit was not great. I would venture to guess at that time my score was between 550-600... I had zero problems getting licensed. Is it the judgment that is an issue?

Yes, I believe it was because I had the judgement. Paying off the judgement right away is just beyond our means right now. Overall experience with Farmers was not that great.