Agent with Low Credit Score

angie0910

New Member
4
Because of financial problems including a temporary disability from which I have totally recovered, my credit score is between 500-600. I can demonstrate that the circumstances were out of my control. Seriously. I have never had a formal complaint, no criminal activity at all, etc. Do you know of an insurance company that considers the current national economic environment, etc., when considering appointing an agent? Being an insurance agent is the best way for me to make enough money to pay back all my debt. Bankruptcy is not an option.

Any suggestions you can offer, re insurance company appointments, would be very much appreciated. Thank you.
 
Most insurance co's don't care much about your credit score to get appointed. They do care if you have a recent bankrupcy. It would have to have been discharged before any appointment. What kind of insurance do you want to sell???
 
Some companies will look at how much debt you have. I know one that will take you with a bankruptcy but not with more than a certain amount of consumer debt. You best bet is to discuss this with the company you are most interested in joining.
 
Because of financial problems including a temporary disability from which I have totally recovered, my credit score is between 500-600. I can demonstrate that the circumstances were out of my control. Seriously. I have never had a formal complaint, no criminal activity at all, etc. Do you know of an insurance company that considers the current national economic environment, etc., when considering appointing an agent? Being an insurance agent is the best way for me to make enough money to pay back all my debt. Bankruptcy is not an option.

Any suggestions you can offer, re insurance company appointments, would be very much appreciated. Thank you.



With the companies I offer contracts for it should not be a problem either getting appointed or receiving advances.
 
" Being an insurance agent is the best way for me to make enough money to pay back all my debt. Bankruptcy is not an option. "

Have you really given thought to what it REALLY takes to make it in this business?

There's a reason insurance recruiters LIE. This is a really tough business. Very few make quick bucks fast. From start to finish on an app there are usually on average 90 days past BEFORE I get paid.

Would you not be better served finding a steady job and slowly pulling yourself out of debt?

This is a job that could quickly double or triple your debt.

THINK.

People coming into this business near bankrupt, rarely pull their butts out of the fire.

Just trying to be honest with you. You have a 10% chance at success (by that I mean staying "open") even with money behind you. Think about it.
 
From start to finish on an app there are usually on average 90 days past BEFORE I get paid.

That's because you write Guardian :D


No, in all honesty take note that this is a tough business, and trying to run out of money woes is not a way to begin.
 
"That's because you write Guardian :D"

That part's been more like 6 months.

For my life business, the biggest snail is the APS or what should be called "we're going to park your application for a month and a half now."
 
From start to finish on an app there are usually on average 90 days past BEFORE I get paid.

.

Your advice is sound and should be given to everyone who wants to get into this industry. It is WORK, just like a "real" job.

Too many people think this is an "easy" way to make money without having to work all day, every day. I probably work harder at this than any other job I have had.

However, in the Med Supp market I am generally paid within the first two weeks or so of submitting an app. Med Supp companies will also allow the agent to take a twelve month advance.

Maybe you should get in the Med Supp market. :D
 
For my life business, the biggest snail is the APS or what should be called "we're going to park your application for a month and a half now."

Typically Med Supp companies do not order an APS on a new applicant, they pretty much take their answers to the health questions on the app. The agent is usually the "underwriter". If the prospect answers all of the health questions correctly the company issues the policy.

When I complete an app I can tell my new client, with a great degree of certainty, that the company will issue the policy and it will go into effect on the date they selected.

Are you convinced yet? :D Oh, and they also pay first year commission for the first six years.
 
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