What steps need to be taken to be an Independent Insurance company. I have a Life and Health License.?
Answers:
Contact your state DOI or COI. You will probably need to submit some paperwork so you can assign your commissions to your business entity. Once you get your corporate license, poof, you're done.
Good luck with the rest.
Since you already have your corp, you just need for the companies you write through to issue commissions through the corp, using your Fed ID number (EIN-employer identification number) rather than your SSN. If you don't have an EIN, IRS will issue one to you over the telephone.
i refer you to-www.ask.com
The corp has to get licensed, and you have to get carriers willing to let you sell their policies.
If you have no idea how to go about this, you should work for an agency for a couple years, and learn how the business works. They'll take about half your commission, but you'll get the support you obviously need.
The first thing is: I suspect you are not an insurance company.
Maybe an agent or broker ? You might get a brokers license, but you'll need some money to form an "insurance company" as I know it. How would you pay your claims ?
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
More Related Questions and Answers...