Unable to Contract with Carriers

[ETimothy]

Thanks is advance for any guidance. I am a licensed health/life agent based in Florida with just under two years in the field. I have had some success working with a IMO selling health products but little with Life.

As an independent broker I have had some difficulty getting appointed with couple of the core carriers that my current Life IMO works with. Consequently, I am only able to offer a fraction of the products that other agents sell within our IMO. I am currently appointed with 2 of the 4 core carriers. I have been declined several times for appointment with the other two based on my background check - nothing serious (fraud, violence, etc.) As I understand, it was my exclusion of past offenses on my initial contracting applications. Unfortunately, my upline instructed me not to include said information on the applications and the carriers declined my appointments.

So here is my question: What options (if any) do I have to get contracted? Can I
1. Submit a policy app as a co-agent with an agent already appointed?
2. Submit new application to be contracted as a business? Meaning to say change my license from an individual to business entity.
3. Do nothing- I'm "SOL"

 

[goillini52]

Thanks is advance for any guidance. I am a licensed health/life agent based in Florida with just under two years in the field. I have had some success working with a IMO selling health products but little with Life.

As an independent broker I have had some difficulty getting appointed with couple of the core carriers that my current Life IMO works with. Consequently, I am only able to offer a fraction of the products that other agents sell within our IMO. I am currently appointed with 2 of the 4 core carriers. I have been declined several times for appointment with the other two based on my background check - nothing serious (fraud, violence, etc.) As I understand, it was my exclusion of past offenses on my initial contracting applications. Unfortunately, my upline instructed me not to include said information on the applications and the carriers declined my appointments.

So here is my question: What options (if any) do I have to get contracted? Can I
1. Submit a policy app as a co-agent with an agent already appointed?
2. Submit new application to be contracted as a business? Meaning to say change my license from an individual to business entity.
3. Do nothing- I'm "SOL"

I'd contract through another FMO...and be honest when answering questions. If you're Independent, you can use more than one FMO.

 

[rmhaire]

I am currently appointed with 2 of the 4 core carriers.

I agree with Goillini52. Sounds like it's time for a new FMO.

There's like over 800 companies out there writing life insurance. Some can be a little picky on their background checks and others will contract you if you can fog a mirror.

As for the three options you listed. How about none. You don't need another agent, trying to contract as a business won't solve a thing and you're definitely not sol.

Unless you're a reformed axe murderer with an awesome axe collection you should be able to find all the companies you need.

 

[Newby]

Thanks is advance for any guidance. I am a licensed health/life agent based in Florida with just under two years in the field. I have had some success working with a IMO selling health products but little with Life.

As an independent broker I have had some difficulty getting appointed with couple of the core carriers that my current Life IMO works with. Consequently, I am only able to offer a fraction of the products that other agents sell within our IMO. I am currently appointed with 2 of the 4 core carriers. I have been declined several times for appointment with the other two based on my background check - nothing serious (fraud, violence, etc.) As I understand, it was my exclusion of past offenses on my initial contracting applications. Unfortunately, my upline instructed me not to include said information on the applications and the carriers declined my appointments.

So here is my question: What options (if any) do I have to get contracted? Can I
1. Submit a policy app as a co-agent with an agent already appointed?
2. Submit new application to be contracted as a business? Meaning to say change my license from an individual to business entity.
3. Do nothing- I'm "SOL"

I agree with the others.
Your Upline is not experienced or just bad at his job. He is likely red flagged with those carriers himself. Move on and start over and a higher quality IMO can likely get you approved.

 

[DayTimer]

Unfortunately, my upline instructed me not to include said information on the applications and the carriers declined my appointments.

Get an upline doesn't advise you to commit fraud with insurance carriers and you should be fine. I know an agent who filed bankruptcy and always disclosed it, and he always was able to get contracts with any carrier to whom he applied. Then, after the bankruptcy fell off his credit report he "assumed" he no longer had to disclose it lol.

Well, guess what? He applied for a contract and was turned down for failure to disclose the bankruptcy.

Insurance companies will forgive almost any past flaw, but they seem to have zero tolerance for someone lying to them at the contracting stage.

You shouldn't think twice about finding a new upline. If he would advise you to lie to a carrier, I guarantee you he has already lied to you.

 

[DHK]

As I understand, it was my exclusion of past offenses on my initial contracting applications. Unfortunately, my upline instructed me not to include said information on the applications and the carriers declined my appointments.

If that upline is telling you to NOT answer questions exactly as they are written... what does that say about them?

Now, JUST LIKE THE LIFE INSURANCE APPLICATIONS YOU WANT YOUR CLIENTS TO COMPLETE... if the question says "In the past 10 years..." and you answer with something that happened 15 years ago... that doesn't apply.

If the question says "Have you EVER..." you had better fill in the blank for whatever applies.

Again, JUST like how you'd advise your clients to answer the same questions they are being asked.

Sounds like your upline... doesn't understand insurance, contracts, and the issues of misrepresentation both for your clients and to the insurance company.

Dangerous combination.

 

[rousemark]

If that upline is telling you to NOT answer questions exactly as they are written... what does that say about them?

Now, JUST LIKE THE LIFE INSURANCE APPLICATIONS YOU WANT YOUR CLIENTS TO COMPLETE... if the question says "In the past 10 years..." and you answer with something that happened 15 years ago... that doesn't apply.

If the question says "Have you EVER..." you had better fill in the blank for whatever applies.

Again, JUST like how you'd advise your clients to answer the same questions they are being asked.

Sounds like your upline... doesn't understand insurance, contracts, and the issues of misrepresentation both for your clients and to the insurance company.

Dangerous combination.

To put it bluntly, the upline sounds like a crook. If he would approve of you lying to a company, he would not hesitate to lie to you.

 

[DHK]

To put it bluntly, the upline sounds like a crook. If he would approve of you lying to a company, he would not hesitate to lie to you.

That would be at the worst.

At best... he's just parroting back what he's heard and was done for him earlier in his career.

Either way, he's blind to the consequences and the ramifications of his actions.

 

[thomasm]

Get an upline doesn't advise you to commit fraud with insurance carriers and you should be fine. I know an agent who filed bankruptcy and always disclosed it, and he always was able to get contracts with any carrier to whom he applied. Then, after the bankruptcy fell off his credit report he "assumed" he no longer had to disclose it lol.

Well, guess what? He applied for a contract and was turned down for failure to disclose the bankruptcy.

Insurance companies will forgive almost any past flaw, but they seem to have zero tolerance for someone lying to them at the contracting stage.

You shouldn't think twice about finding a new upline. If he would advise you to lie to a carrier, I guarantee you he has already lied to you.

You gotta read the questions carefully just like you do on the life apps. If it asks have you EVER filed for bankruptcy, you have to disclose it. And if they only look back a certian number of years and you're beyond those years you can honestly say no.

 

[DayTimer]

You gotta read the questions carefully just like you do on the life apps. If it asks have you EVER filed for bankruptcy, you have to disclose it. And if they only look back a certian number of years and you're beyond those years you can honestly say no.

I agree. But I have myself have never contracted with a company that gave a limited look back on felonies, misdemeanors, or bankruptcies. As I recall, every carrier asked "Have you ever ..."