Looking to Begin Dealing in Life Insurance and Life Settlements

[beekrock]

I live in PA and I'm looking to sell life insurance as well as deal in life settlements. I assume that all I need in order to sell life insurance in PA is the required class hours and the successful completion of the exam? What about life settlements? Are they considered life insurance or securities? Someone told me that I'd need to pass the Series 6, but I don't know if that's true.

Can anyone help out a newb?

 

[mike-]

Re: Looking to Begin Dealing in Life Insurance and Life Settlemen

I live in PA and I'm looking to sell life insurance as well as deal in life settlements. I assume that all I need in order to sell life insurance in PA is the required class hours and the successful completion of the exam? What about life settlements? Are they considered life insurance or securities? Someone told me that I'd need to pass the Series 6, but I don't know if that's true.

Can anyone help out a newb?

For the life settlement you might need a viatical settlement license. If you work for a broker who does specializes in life settlement then you might be find with just your life and annuity license (2-14). I wouldn't go at it alone for life settlements; you need a lot of contacts.

 

[arnguy]

Re: Looking to Begin Dealing in Life Insurance and Life Settlemen

Call the PA DOI.

 

[BengyUSF]

Re: Looking to Begin Dealing in Life Insurance and Life Settlemen

Its actually up to the state on Life Settlements, here in Florida you don't need series 6 for Life Settlements. Georgia you do, ill try to find an up to date list....

 

[Josh]

Re: Looking to Begin Dealing in Life Insurance and Life Settlemen

Its actually up to the state on Life Settlements, here in Florida you don't need series 6 for Life Settlements. Georgia you do, ill try to find an up to date list....

In PA all you need is your life license.

 

[lifesettlementadvisor]

Re: Looking to Begin Dealing in Life Insurance and Life Settlemen

The license needed is actually tied to the state that the trust of the policy is held in.

You should just partner up with a good broker. Most brokers offer licensing services to new agents to help them in the process.