Can I still be appointed ?

[Newby]

Re: Can I still be appointed if...

In all honesty, I am particularly interested in Forethought and Oxford's policy on appointing licenses with a BK. If anyone knows the specifics on these two companies and there standard buisness practices, I would greatly appreciate it! hoosierdaddy...you are right FL is amazing compared to horrible weather in Northern IN, you feel like you are on vacation everyday! I highly recommend it!

I've heard recently that Forethought is going to start requiring E & O coverage. I don't know if a bankruptcy affects that or not.

I have had an agent that tried to contract under me denied by Forethought for bad credit history but I don't know how bad or any specifics.

 

[Leogirl]

Re: Can I still be appointed if...

hmmm, that doesn't sound too promising. Although my credit HISTORY was excellent up until filing. Our filing was due to a single circumstance (job transfer) and not ongoing financial difficulty due to poor money management.

 

[SportsNut]

Re: Can I still be appointed if...

hmmm, that doesn't sound too promising. Although my credit HISTORY was excellent up until filing. Our filing was due to a single circumstance (job transfer) and not ongoing financial difficulty due to poor money management.

You should compile a brief statement, similar to what you just wrote above... not much more. This statement would be included with any request for appointment, as well as a copy of your Bk discharge. Companies like to see 1 yr from discharge but you will find some to appoint you regardless. It would potentially be a problem if the Bk is NOT discharged yet...

Remember, "Less is More". Don't try to write a long dissertaion of explanation... keep it brief, to the point, stating only that the Bk was discharged on x date, filing was due to Y, and also include any instance of reestablished credit, if possible. They will pull your credit history so make an attempt to re-establish credit and provide only accurate info on the application to appointments.

Beyond that you should be fine...

 

[deerheart7]

Re: Can I still be appointed if...

what products are you selling?

mostly life. I sell some health and long term care as well. I am licensed with Aetna, Humana, Golden Rule, Assurant, AIG, Genworth, John Hancock, ING, MedAmerica, Met Life, Mass Mutual, Ohio National, Western Reserve. I havent filed BK yet just gave my credit cards over to a debt company in February. Trying everything before BK.

 

[Crabcake Johnny]

Re: Can I still be appointed if...

I would strongly suggest you focus on individual health and really kick it out with BtoB to avoid BK. You absolutely can make thousands a week in a rather short period of time - once you're back in the black you can refocus if you like.

If you've been in this biz selling life for three years and approching BK it's time to take a hard look at that line of insurance for you.

 

[Leogirl]

Re: Can I still be appointed if...

Thank you sportsnut, unfortunately, my discharge is not until 6/29/08. So I should not even attempt appointment until after this date, correct? I pulled my credit report and I have 41 positives on my credit report with long established relationships and only 6 were included in the BK. The only reason I even have 6 is because in BK you cannot pick and choose who you file against...it's all or none. I would like to appoint my license right after my discharge...is this wishful thinking?

 

[deerheart7]

Re: Can I still be appointed if...

I would strongly suggest you focus on individual health and really kick it out with BtoB to avoid BK. You absolutely can make thousands a week in a rather short period of time - once you're back in the black you can refocus if you like.

If you've been in this biz selling life for three years and approching BK it's time to take a hard look at that line of insurance for you.

Actually my first yr was with Aflac.. second yr started doing some health and still Aflac. I have only started the last couple of months focusing on life. But I hear what you are saying about focusing on individual health --- when you say kick it out with BtoB what do you mean? I have purchased leads for individual health but always was the 8th agent that would call the prospect by the time I got the lead. I have been focusing on some direct mailings this passed month.

 

[Crabcake Johnny]

Re: Can I still be appointed if...

Direct mailings for health would be a marketing technique if you had deep pockets and time.

Forgot about shared leads - in your situation I'd recommend hitting business areas, asking for the owner and pitching individual health.

You're approaching BK? Go out all day Monday - 8 hours, all day Tuesday - 8 hours - writte apps Wed - Friday.

16 solid hours a week of BtoB - just gas and flyers as expenses with every 2 1/2 hrs of BtoB resulting in a client.

That's a 6 app week or around 4K. That should pull you out nicely.

If you're not in an area that's condusive to BtoB then starting telemarketing - get an auto-dialer - $150/mo and start calling 4 hours a day.

I was in your exact situation in '03

 

[deerheart7]

Re: Can I still be appointed if...

Direct mailings for health would be a marketing technique if you had deep pockets and time.

Forgot about shared leads - in your situation I'd recommend hitting business areas, asking for the owner and pitching individual health.

You're approaching BK? Go out all day Monday - 8 hours, all day Tuesday - 8 hours - writte apps Wed - Friday.

16 solid hours a week of BtoB - just gas and flyers as expenses with every 2 1/2 hrs of BtoB resulting in a client.

That's a 6 app week or around 4K. That should pull you out nicely.

If you're not in an area that's condusive to BtoB then starting telemarketing - get an auto-dialer - $150/mo and start calling 4 hours a day.

I was in your exact situation in '03

I am listening and taking notes.. just read your website as well. The door to door as well as phone calls to b2b is a real tough sell here in southern Florida. I spent a year doing this with Aflac and that's why got into health insurance because when I would visit the business I found most people didnt even have health insurance here. The market is flooded with agents - you open the door to leave and another agent is walking in to sell. As for the telemarketing you never get passed the gatekeeper. I am doing flyers and posting them as everywhere I can. Every other block has a telephone pole with "call for insurance" on it. I do a newsletter every month and do the birthday cards and thank you cards to all my clients. I leave my cards at every business I walk into and then every one along the way.

 

[TXINSURANCE]

Re: Can I still be appointed if...

Direct mailings for health would be a marketing technique if you had deep pockets and time.

Agreed. It is extremely effective if done correctly, but conversion rates are expensive and TIME is the biggest factor. Carriers never give you materials that are "ready to mail", a lot of prep work and other hassle.