Getting Approved with LSW and ANICO

[lonstott]

I'm a new agent and thinking about signing up with 1st Financial Security... they sell LSW and ANICO products.
In order to apply with 1st Financial you have to pay a 125.00 application fee and then get approved with LSW and ANICO...
My question is ...is it hard for agents to get approved with LSW and ANICO if you have bad credit (no banko's or foreclosures). I don't want to pay 125.00 and then get turned down by the 2 insurance companies they use.
Appreciate any advise.

 

[SamIam]

Why are they using those two carriers.

 

[lonstott]

I'm not sure... what they do is go into schools and give presentations to teachers. The teachers who are interested schedule appointments with agents.
My concern is not getting approved through the two companies.

 

[magagent]

If you don't have a vector, foreclosure or bankruptcy you should be fine.

I'm not sure... what they do is go into schools and give presentations to teachers. The teachers who are interested schedule appointments with agents.
My concern is not getting approved through the two companies.

 

[thall]

Did you ask what the 125 is for? Appointment fees, application fees, etc. Find out what the 125 is for.

 

[lonstott]

I think the 125.00 is just an application fee. Thanks everyone for your comments and advise.

 

[DHK]

I have some credit issues and was appointed with ANICO with no issues... not even requesting an explanation.

Beware of application fees. I've never heard of any company requiring an application fee to be appointed to sell their products.

Broker/Dealers are different. If you are securities licensed, or joining a firm that deals with securities, then license fees &/or background checks may be at your expense.

 

[proadvisors]

I work with LSW, Allianz, Aviva, TransAmerica, American General,
Foresters, Lincoln Financial Group, and several others. I can get you appointed with NO APPLICATION fees. I would be careful about that.

 

[thall]

lonstott, the 125 could very well be a fee showing your sincerity. They may want you to have some skin in the game. Don't hesitate to ask if it's refundable if you are unable to get appointed with either of the two cos.

 

[lonstott]

I think your right about the sincerity part... thanks everyone for your thoughts.
My next question is how to go about getting errors and omission coverage?