Moving abroad as a life/DI agent

[toughcookie]

Hey, first post here. I have been selling life/DI/group for a bunch of years and have thankfully built up a very good practice for myself at Mass Mutual/Guardian Life/NYL (for anonymity). My renewals are stacking and I’m happy with the money I’m making and I see a long career there. My spouse and young kids and I are strongly considering moving abroad permanently to a different country where we have most of our family and are just dying to live. I work completely remotely (clients over the phone and Zoom), and only see colleagues once a year at the annual dinner. I am a painfully honest person in my career. The idea of continuing my career from abroad with a stable American income without telling anyone in my company is very tempting (and guilt inducing). I am under the impression that an agent has to sign life/DI applications from the US, correct? Would compliance look at my IP address/I could get a VPN? Have another agent sign the applications from their account and have us as joint on everything (this would be challenging). Any other ideas to keep these two dreams?

 

[tikibarrister]

without telling anyone in my company

guilt inducing

Would compliance look at my IP address/I could get a VPN?

Have another agent sign the applications from their account

Boy, I sure wish you were consulting with my family on our financial future because you sound like an honest, trustworthy guy.

You realize how spectacularly awful this sounds, right? You're going to lie to your employer, also perhaps the government, and bet your family's main means of support on your ability to dodge your employer's compliance department.

I am a painfully honest person in my career.

Apparently not.

 

[DHK]

There's no problem.

You can maintain a resident license with either your home address OR a business address in your chosen resident state and live wherever you want. And yes, that business address could just be a mailing address.

This was the response I got from the CA DOI on the same question:



From there, get a VPN service and pick your location (your resident state) for doing e-apps.

There are plenty of people doing what you're doing all around the world.

Granted, each company has their own view of "compliance", so you'll have to ask them separately. But if they won't help you... there are other companies to do business with.

 

[DHK]

You realize how spectacularly awful this sounds, right? You're going to lie to your employer, also perhaps the government, and bet your family's main means of support on your ability to dodge your employer's compliance department.

Why are you casting judgment when you don't know the answer? His guilt is unfounded, but he doesn't know that yet.

Knowing the answers are what he needs and he doesn't know the answers. He hasn't bothered to check with his state DOI or his company's compliance departments... which should be the places to ask and check, not necessarily a message board.

 

[toughcookie]

Hey

Boy, I sure wish you were consulting with my family on our financial future because you sound like an honest, trustworthy guy.

You realize how spectacularly awful this sounds, right? You're going to lie to your employer, also perhaps the government, and bet your family's main means of support on your ability to dodge your employer's compliance department.

Apparently not.

Hey, so I'm actually a woman, but thanks for the kind and helpful feedback, with character attacks to boot. I asked a question to better understand my limitations for working with two competing goals and shared thoughts that are running through my mind, not that I'd necessarily act on them.

Also, a good rule of thumb to ask yourself when speaking to other people (online or offline) is, can I get this message across just as effectively, but in a normal and kind way? Because writing with spite rarely makes your point more effective to the person you are trying to convince. You just come off as emotionally unregulated.

Food for thought.

 

[DHK]

Hey, so I'm actually a woman

I apologizing for assuming your gender.

 

[toughcookie]

There's no problem.

You can maintain a resident license with either your home address OR a business address in your chosen resident state and live wherever you want. And yes, that business address could just be a mailing address.

This was the response I got from the CA DOI on the same question:

View attachment 11246

From there, get a VPN service and pick your location (your resident state) for doing e-apps.

There are plenty of people doing what you're doing all around the world.

Granted, each company has their own view of "compliance", so you'll have to ask them separately. But if they won't help you... there are other companies to do business with.

This is very helpful- thank you for sharing. I knew some here would have some type of exposure to this remote issue that would provide starting info faster than I would get waste my time getting responses from government offices or compliance- obviously I would pursue that next. Do you know what the norm is with compliance departments? Just curious first.

 

[DHK]

It will get more 'dicey' if you're a registered rep (Series 6, 7, 63), and/or IAR (Series 65) for an RIA and trying to do active money management or soliciting securities business.

That said, for insurance, I was only concerned for licensing, not necessarily compliance (company perspectives). I have broker contracts, no career contracts, so I really (almost) don't care what they say because I'll find someone else who will work with me if they won't.

The VPN will be important as you source the e-app and sign the e-app in the IP of your chosen resident state.

As long as the insurance company knows that I'm not trying to intentionally skirt any insurance regulations and be in compliance with the law, it should all be fine. (Of course, 'should' is a very fluid concept with some compliance people.)

 

[rmhaire]

You just come off as emotionally unregulated.

And all this time I thought I was just an ass.

I'm going to borrow this one. Can't wait to tell all of my friends that I'm emotionally unregulated. All three of them will want to know.

Good luck wherever you end up.

 

[goillini52]

And all this time I thought I was just an ass.


You were right.