Do You Have To Have Good Credit To Become And Agent?
- Thread starter sell4u
- Start date
- 14,808
No. if you needed good credit to because an agent the insurance industry would collapse.
- 9,744
I'M NEW TO THIS I WAS WONDERING DO YOU HAVE TO HAVE GOOD CREDIT TO BECOME A INSURANCE AGENT PLEASE HELP PLANNING ON STARTING CLASS THIS JANUARY COMING?
Some carriers and/or GAs will run credit - but only if it's a situation where you are getting loans/advances from them. A definite minority.
And pleez...turn off the CAPS LOCK!
- 3,863
They do run full credit checks when you use ALL CAPS.
As long as you are not getting advances (which is a loan) then credit is a non issue, if they refuse to appoint you due to credit go somewhere else.
A lot of agents have bad credit, this should be a non issue.
As long as you are not getting advances (which is a loan) then credit is a non issue, if they refuse to appoint you due to credit go somewhere else.
A lot of agents have bad credit, this should be a non issue.
- 14,808
I've never heard of an agent not getting appointed even with companies that advance. I took on an agent who BK'd last year and he got appointed with every carrier around, with advance and no problems.
- Thread starter
- #7
also with the advances do they give that to you by choice or you have to speak up,also I don't want to invest no time or money into something thats dam near impossible to get into ?I have a squeaky clean back ground check and from anywhere a 536-560 Fico score>HELP.......times ruining out for me to make a decision?
- 14,808
Ask for an advance but not all carriers advance. You're looking for Assurant, Golden Rule (through a broker) World and Unicare.
If you believe its the right career choice for you, go for it. Develop a plan, follow that plan to its conclusion, and only adjust when the plan itself needs adjusting.
Your credit is not a problem, credit is something that matters to different people in different ways. The only thing insurance companies care about, is can you sell their product and make decent field underwriting decisions.
Your credit is not a problem, credit is something that matters to different people in different ways. The only thing insurance companies care about, is can you sell their product and make decent field underwriting decisions.
For health, I don't know that credit makes a big difference. In the P&C markets, I believe it matters a bit more, especially if you want binding authority. To be honest, I don't think I've had any health carrier run a credit report on me, but when I was first appointed with P&C they did, and will decline based on your credit. You don't need anything overwhelming, but a history of bad credit may prevent P&C appointments.
More than credit, you'll need some cash reserves to get started. You can make some money the first few months, but the $$$ won't be strong till you get into a rythm.
Dan
More than credit, you'll need some cash reserves to get started. You can make some money the first few months, but the $$$ won't be strong till you get into a rythm.
Dan
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