Newbie Question

[rugerdooger]

I'm licensed in Michigan. While working in the State of Michigan can I sell a policy to a person who is not a resident of Michigan even though the actual sale takes place in Michigan?

 

[Guest]

I'm licensed in Michigan. While working in the State of Michigan can I sell a policy to a person who is not a resident of Michigan even though the actual sale takes place in Michigan?

If they are in another state, you would need a non resident license so no, you cannot.

Example: They are in Florida, you are in Michigan, if you do not have an FL non res license, you can't write their policy.

 

[arnguy]

But, Rob, he stated that the sale takes place in Michigan where he is duly licensed. IMO as long as the sale takes place in the state where he he is licensed (MI) it is legal regardless of the residence of the insured.

 

[fdahl82]

It is my understanding that there are some states that don't allow this, and if they do they need to have an agenda other than going to the agents licensed state just to get insurance.

But, Rob, he stated that the sale takes place in Michigan where he is duly licensed. IMO as long as the sale takes place in the state where he he is licensed (MI) it is legal regardless of the residence of the insured.

 

[Norwayguy]

It is my understanding that there are some states that don't allow this, and if they do they need to have an agenda other than going to the agents licensed state just to get insurance.

Yes Mass requires all insurance written on a Mass Resident to be done in Mass...

 

[sshafran]

I'm licensed in Michigan. While working in the State of Michigan can I sell a policy to a person who is not a resident of Michigan even though the actual sale takes place in Michigan?

My understanding is...
Call over the phone to another state and make the sale? No. You'd need to have a non-resident license for that.

If they are visiting Michigan and you make the sale while they are in the state, you are fine as long as their State is OK with that, but you'll often need an extra form to attach to the app.

Someone can correct me if I am wrong...

 

[HarryRenard]

If a person lives in another state but is signing the application in a state that your licensed that is ok.

If i have a maryland license that means
I can market and sell my products in md, not that
I can only sell to md residents.

 

[rugerdooger]

Thanks for the replies everyone.

 

[YouGotMyMoney]

Well, all I know is if someone from LA was in Fort Lauderdale on vacation and I wanted to sell them a GoldenRule plan, and I put their LA zip code in @ GoldenRuleHealth.com, it won't let me continue.....

 

[Mark]

Okay,,let me tell you what I think.

2 things.

You must have a lic in the state where the app is being written. The product has to be approved in that state also.

But I've written many policies to people that came to GA, from a state that I didnt have a lic in, but the product was approved in their state...

You can call your ins company if you are not sure..