Hello. I am an independent agent and I am currently working for a life insurance company. Nowadays, I am planning to work for another life insurance company and sell their policies during the weekends. Is it possible for me to sell the insurance products of two different life insurance companies? Can I use my licence for both of them?
This is actually a very popular question within independent insurance agents. Most independent agents want to work with several companies in order to have selling Access to different products in order to increase sales by finding the perfect insurance product for their clients.
At this point, there is no problem stated by the laws and regulations about working for several insurance companies as an independent insurance agent.
The fact that regulations do not create any problems for you while working for several companies DOES NOT mean that there will be no problems in total.
Insurance companies can be bothered by you working for their competitors. Naturally, no companies want to share their resources with other companies in the sector, as all of them wants their own products to be sold more. Eventhough laws do not bother you about this issue, insurance companies can make it a huge problem for themselves resulting in problems in your job as an independent agent.
Thus, as a result of all these, I would be careful about working for several companies and also learn more about the points of view of both companies on you working with different companies and act accordingly.