Credit Issues

[dtran310]

I was wondering if anyone knew which final expense carriers are lenient for agent's with credit issues. And which would still allow advanced commissions? Thanks for the help.

 

[onefastpony]

I was wondering if anyone knew which final expense carriers are lenient for agent's with credit issues. And which would still allow advanced commissions? Thanks for the help.

I don't have the best credit and I get appointed with 6 month advance. The only company I'm as earned with is AmGen.

 

[dtran310]

I would be very happy with a 6 month advance. What carriers are you currently writing with? I appreciate the feedback.

 

[onefastpony]

I would be very happy with a 6 month advance. What carriers are you currently writing with? I appreciate the feedback.

Fidelity & Guaranty
Transamerica
Royal neighbors
Monumental
Genworth
Assurity

 

[Cyborg7]

My credit was rough and I was easily appointed with 7-10 carriers such as American Amicable, UHL, Royal Neighbors, Transamerica, Forethought, Kemper, 5 star etc.... The one that I didn't get was Oxford as they didn't like my credit report :-)

 

[goillini52]

My credit was rough and I was easily appointed with 7-10 carriers such as American Amicable, UHL, Royal Neighbors, Transamerica, Forethought, Kemper, 5 star etc.... The one that I didn't get was Oxford as they didn't like my credit report :-)

That's funny...I'm on 6 months advance with Oxford and Forethought turned me down because of my credit report.

 

[Cyborg7]

Weird !! I think each carrier has their specific hot button.

 

[xrac]

It may just depend upon who is reviewing the app and how they feel at the time if you are borderline.

 

[indiana260]

That's funny...I'm on 6 months advance with Oxford and Forethought turned me down because of my credit report.

Did Forethought issue you a writing number and then decline you? I have heard they review your contracting app and issue a writing number but then don't do your background check ect until you submit business. I heard they will decline the applicant just because you were turned down for contracting.

I have not had this trouble but need to know prior to sending in a contract for another agent.

 

[goillini52]

Did Forethought issue you a writing number and then decline you? I have heard they review your contracting app and issue a writing number but then don't do your background check ect until you submit business. I heard they will decline the applicant just because you were turned down for contracting.

I have not had this trouble but need to know prior to sending in a contract for another agent.

No...I filled out the contract and was turned down due to my credit history. I was never issued a writing #. Out of dozens of companies over the past 10 years, the only other one that turned me down was American Equity. Equitable Life & Casualty kept wanting more explanations, and after the 3rd time I told the guy to piss off.