Hello,
I really would like to get some advice from some experienced people in the insurance industry about my question.
I am making a career change and it looks like I am going to be offered a job with a reputable life insurance company which has been around for about 100 years pending my application going through the approval process. I am comfortable with the company, that is not the issue.
Here is my issue. I have been investing in real estate after years or having good credit my credit has taken a big hit recently. I disclosed information about this the the people I interviewed with and explained part of the situation. They seem to be comfortable with it and said the credit score doesn't matter. Apparently, what does matter is if you have over 10k in debt which is 120 past due that would disqualify you from being hired. I think I should be ok on that and feel like I will likely be offered the job.
My big concern is this: they state in the paperwork that they can pull your credit even after you are hired and your credit could affect your employment. It is possible that if I was hired that after that I may fall 10k behind in bad debt and bankruptcy is a real possibility.
I understand no one can tell me what this company would do if got hired and started preforming well and then the company say pulls my credit 6 months down the road and I had gone bankrupt or fallen over the 10k debt level, but what I would like to know from people in the industry who have been in the industry for a while or maybe have been in management or at the corporate level with life insurance companies what they think would happen if that happened.
I don't want to get in the industry and then if these issue with credit/bankruptcy do happen find out that I lost my job because they pulled my credit again. I don't know if once I got my license it doesn't matter about my credit at that point or not as far as whatever licensing you need to be an agent.
I would like to know if this 10k limit that was mentioned is just something this specific insurance company came up with or is this a rule in the industry. If I went bankrupt would that disqualify me from being an insurance agent or would it just depend on whether the insurance company pulled my credit and how they felt about it or would their hands be tied and would they be required to fire me.
I don't want to get in the industry and start talking to people I know about insurance and then have my credit/potential bankruptcy situation end my career.
Your advice would be greatly appreciated.
Thanks
I really would like to get some advice from some experienced people in the insurance industry about my question.
I am making a career change and it looks like I am going to be offered a job with a reputable life insurance company which has been around for about 100 years pending my application going through the approval process. I am comfortable with the company, that is not the issue.
Here is my issue. I have been investing in real estate after years or having good credit my credit has taken a big hit recently. I disclosed information about this the the people I interviewed with and explained part of the situation. They seem to be comfortable with it and said the credit score doesn't matter. Apparently, what does matter is if you have over 10k in debt which is 120 past due that would disqualify you from being hired. I think I should be ok on that and feel like I will likely be offered the job.
My big concern is this: they state in the paperwork that they can pull your credit even after you are hired and your credit could affect your employment. It is possible that if I was hired that after that I may fall 10k behind in bad debt and bankruptcy is a real possibility.
I understand no one can tell me what this company would do if got hired and started preforming well and then the company say pulls my credit 6 months down the road and I had gone bankrupt or fallen over the 10k debt level, but what I would like to know from people in the industry who have been in the industry for a while or maybe have been in management or at the corporate level with life insurance companies what they think would happen if that happened.
I don't want to get in the industry and then if these issue with credit/bankruptcy do happen find out that I lost my job because they pulled my credit again. I don't know if once I got my license it doesn't matter about my credit at that point or not as far as whatever licensing you need to be an agent.
I would like to know if this 10k limit that was mentioned is just something this specific insurance company came up with or is this a rule in the industry. If I went bankrupt would that disqualify me from being an insurance agent or would it just depend on whether the insurance company pulled my credit and how they felt about it or would their hands be tied and would they be required to fire me.
I don't want to get in the industry and start talking to people I know about insurance and then have my credit/potential bankruptcy situation end my career.
Your advice would be greatly appreciated.
Thanks
