Newly Licensed Agent Confused

Trmy05 · 10-22-2009, 04:01 AM

I am a newly licensed agent and I am not really familar with the entire license and contracting process. I work for an FMO. The company is pretty much taking care of all the licensing and contracting for me, but this means I don't have access to my license, writing numbers, or appointments until they decide to realease the info to me. I recently looked on the naic website and found out that im licensed in 10 states that I did not even know about. They have used the work address for all my licensing and contracting info so everything goes to them. I have also recently been told that if I decide to leave the company that they will hold my appointments with each company. I am not sure what this means for my future in the insurance industry and any info would be great. I need to know what if anything can this FMO do if I decide to leave the company. Will I loose my license since they paid for them, and what will I need to do to keep my appointments with these companies.

insuranceexec · 10-22-2009, 05:23 AM

You will not lose your license.

Ask for an up-front release in writing. If you do not get an up-front release then you will be bound to the company/contract for a set period of time; typically 6-12 months.

Some companies will allow you the opportunity to dual contract. I hope this helps.

Trmy05 · 10-22-2009, 05:39 AM

This does help thank you.

insuranceexec · 10-22-2009, 05:44 AM

You're welcome

MedicarePlanSolutions · 10-22-2009, 05:44 AM

You should probably take a look at your employment contract/agreement. If you want some help send me an e-mail and I can help you get squared away.