Getting an Agent Appointed with a Very Recent Bankruptcy

[mswebb06]

Good morning all, I have the tough task of getting an agent appointed that has just recently filed a Chapter 13 bankruptcy.. I am first going to attempt to get this agent appointed with Fidelity Life.

When I mean recent BK, I mean this agent had their formal 341 BK hearing last week... Anyone with experience on getting agents appointed who have recently filed a BK, especially with Fidelity life.

I have been in contact with Fidelity, they will contact me at the end of this week to see if this even has a chance.

I wanted to see if anyone can give us an idea of what we are up aganist.

 

[Mark]

Good morning all, I have the tough task of getting an agent appointed that has just recently filed a Chapter 13 bankruptcy.. I am first going to attempt to get this agent appointed with Fidelity Life.

When I mean recent BK, I mean this agent had their formal 341 BK hearing last week... Anyone with experience on getting agents appointed who have recently filed a BK, especially with Fidelity life.

I have been in contact with Fidelity, they will contact me at the end of this week to see if this even has a chance.

I wanted to see if anyone can give us an idea of what we are up aganist.

I can take the guy with A.A. and U.H.L. as long as their is no vector, it is closed and was not against an insurance company.

 

[lqdirect01]

I have had plenty of agents with recent bankruptcies and it really depends on the carrier. The majority of carriers will contract them or ask the IMO to gurantee the agents contract. Most carriers will not advance with a recent bankruptcy.

 

[mswebb06]

It appears after speaking with a couple of carriers getting him appointed won't be an issue. Going as earned and advanced will be the issue.

This agent won't be getting an advance from life carriers for at least three months. A supplemental health company that
we do a lot of business with has agreed to a six month advance..

So, not as difficult as we first anticipated. Thanks for the replies.

 

[The Gimp]

In my experience its not a major issue unless its still open.