Relocation and agent license question

Jun 14, 2007

  1. Guest
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    Guest Guest

    I have a California Life Agent license. My wife wants us to relo to New York City next year. I'd obviously like to work at insurance in New York. What would be the best procedure to follow license-wise?

    Should I get a non-resident NY license now and change to a resident license when I move? How long can one use a non-resident license after they move... or can they? Do I then get a CA non-residence license so I can keep my CA clients? Will I have to take a NY exam or will they accept the classes and CEs I have in CA?

    I'm sure I'm not the first person to ever move from one state to another, so please post any experience you might have on this issue. I don't think it's ever been covered on this board.

    Thanks,
    Al
     
    Guest, Jun 14, 2007
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  2. somarco
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    somarco That Medicare Expert Guy

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    I would suggest a non-res NY license now & testing the water. NY is a very different state from CA. As I recall it is also a guaranteed issue, community rated state for individual health. Association plans such as the Freelancers Union are used by many.

    After you move, keep your CA license and convert to non-res.

    If you continue to work in CA the good news is you get to sleep in late. The bad news is you will be up to midnight
     
    somarco, Jun 14, 2007
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  3. Guest
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    Guest Guest

    I plan to be doing "safe-money" retirement and estate planning for boomers (like me.) I'd rather do heathcare, but as stated above, I don't know if that will bie viable in New York. I might even go captive to get started. Moving to Manhattan will be somewhat expensive (duh!)and I think I'd like the cushion (however small) of a captive arrangement for a while. I have plenty of time to think on this. Won't happen for quite a while... unless of course I find the perfect apartment for the perfect price in the perfect location in NY... and I don't expect that to happen any time soon. (Also we have to rent out our house... I won't sell it in this market. I could but I'd leave over $150K on the table compared to if I wait 18 months (my best guess.)

    Hmmm. Is there a proceudure to convert? I think you have to make a new application using the New York license as the home-state.

    How long can you use a non-resident license after you move to a state before you have to get a resident? Anyone know?

    I did some research and found that I won't have to take an exam for a NY resident license since NY will recognize my CA license for life and health and accident. That's a good thing.

    One other item I noticed is that getting a NY out-of-state license, the fee depends on the state you reside in. It cost a $112 to get a non-resident NY if you reside in CA, but a lot less if you reside in some other states. I can't figure out the logic behind that. Anyone understand how the DOI association figured that out?

    Personally, I think there should be a 'national' license for insurance and lt the Feds run it like they do the Series licenses. Won't happen... too logical.

    Al
     
    Guest, Jun 14, 2007
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  4. Crabcake Johnny
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    Crabcake Johnny Guru

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    Al I deeply envy you. My wife and I are addicted to Manhattan and normally go two to three times a year. A dream of ours it to have a permanent residence there.
     
  5. BKrocko
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    BKrocko Guru

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    "Green Acres is the place to be, farm living is the life for me.............goodbye Manhattan just give me the country side".

    I spent 10 yrs. in Phila. (went to undergrad & grad school there), I knew then that it felt to crowded - moved to Colorado and never looked back. Denver has grown but there is still a little elbow room left. Good luck....to each his own. :nah:

    Out here, we call sky scrappers ...........Mountains.
     
    Last edited: Jun 14, 2007
    BKrocko, Jun 14, 2007
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  6. Crabcake Johnny
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    Crabcake Johnny Guru

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    We actually don't want to live there year round. We want a residence so we can go up whenever we want. A good hotel there is $350 a night and trust me, you do NOT want to stay in one that charges less than that.
     
  7. Sam
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    Sam Founder Administrator

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    New York might have the screwiest insurance laws in the country, both health and life, but it is actually easier to sell there than in many other places. Some important things to remember:

    1. Since all group health insurance is gi and community rated, it is very easy to identify which types of policies can be easily replaced. In addition, you don't need to pre-certify anyone before offering them a fully mature quote, which takes away like 80% of the hassle of selling group health insurance.

    2. By and large, individual health insurance is not a broker product in NY. I believe that a majority of carriers will only write direct.

    2. A much higher % of the life and annuity agents in NY are with captive companies (The % is much lower elsewhere in the nation) , which gives an independent agent a leg up on others.
     
    Sam, Jun 14, 2007
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  8. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Why don't you just let your wife move there and then you could keep selling in CA and visit your wife a couple times a year????:D:D
     
  9. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    I wanted to go to Temple U. But my Mother visted the campus and REFUSED TO GET OUT OF THE CAR!!! She said (and I quote) "Let's get the hell out of here!" I guess she felt the area was nasty (and it was).

    Went to school in the Midwest instead.
     
  10. BKrocko
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    BKrocko Guru

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    Your mother was correct! I went to Philadelphia University, Temple was just down the road. Funny story - we used to party with the girls over at Beaver College. I spent my first year at Purdue Univ in Indiana where I grew up. Where do you hail from?

    Chumps - you've got me confused, where are you located? Is it Tyre Lebanon or somewhere is Ohio? If it's Lebanon, I assume you have a great business offering life insurance:D . I ask because you seem to have a lot of interest in the middle east. Thanks.
     
    BKrocko, Jun 14, 2007
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