Can You Get An Insurance License With A Felony?

Do you have a problem with your background or criminal record? Wondering can you get an insurance license with a felony? When you apply for an insurance license, you must follow the rules set forth by your state. Each state has its insurance agent licensing standards, which may involve background checks and fingerprinting to ensure that applicants are of good character for independent insurance brokerage. 

Currently, fingerprints are mandatory as part of the background check in 25 states. Thus, it entails running your fingerprints through the FBI Criminal Database to see if you’ve ever had a criminal conviction for insurance blog. 

For the past seven years, most other states and the District of Columbia have required identification and background checks. 

Obtaining an insurance license while being convicted of a misdemeanor 

A misdemeanor is a less serious criminal infraction than a felony. It can range from simple assault to shoplifting, trespassing, disorderly conduct, and other minor offenses. Misdemeanors typically come with a shorter sentence, lower fines, and just temporary penalties for independent insurance. 

With a misdemeanor, you can usually receive an insurance license. Certain offenses, however, require you to serve a disqualification time before applying for licensing. 

Some states require a seven-year disqualifying period for any offenses directly related to the financial services industry, while others may be more lenient. 

Obtaining an insurance license after committing a felony 

According to Duford, murder, rape, burglary, kidnapping, and arson are examples of felonies carrying heavy fines and lengthy jail or prison sentences. 

The sort of felony determines whether or not an agent can obtain licensure. Some candidates are automatically denied an insurance license, while others may be eligible to apply after a certain amount of time has passed. 

Applicants convicted of a first-degree crime, a capital offense, a felony involving money laundering, fraud, embezzlement, or a felony directly related to the financial services industry are unlikely to be eligible for an insurance license. 

There is a necessary waiting period for all other felonies before applying for a license. 

There is a fifteen-year disqualification for felonies involving moral turpitude that is not included explicitly in permanent bars. There is a seven-year disqualification period for other offenses for which neither the permanent bar nor the 15-year disqualification applies. 

Applicants must show that they have been rehabilitated, do not pose a risk to customers, and are trustworthy enough to work in the insurance industry after the disqualification period. 

For precise information about obtaining a license, contact your state’s Department of Insurance. 

Obtaining an insurance license despite having a poor credit rating 

It is not difficult to get accepted as an insurance agent if you have a low credit score. However, you should bear in mind that most insurance companies are highly discriminating in their screening procedure. 

They will inquire about any existing debts and bankruptcies, as well as current and previous foreclosures before you sign the contract. 

Furthermore, if you qualify based on credit, several organizations provide advance commissions or a loan against future revenues. They want to know that if your clients cancel their policies, you’ll be able to repay the loan. 

Also know the criteria for become insurance producer and how to become an insurance agent for independent insurance brokerage firm for insurance claim. 

How much does an insurance agent make an hour? The average hourly income for an Insurance Agent in the United States is $25  

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