SURRENDER OF LICENSE and or CLOSURE OF LICENSED LOCATIONS 2025

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Lets look at what happens when you surrender a whole life settlement. Surrendering a whole life insurance policy means you are cancelling the policy. Instead of your beneficiaries receiving the death benefit, you as the policyholder will receive the cash value your whole life insurance policy has built up over time.
Bottom line, while most applicants will be able to get an insurance license with bad credit, they may have difficulty getting appointed with the insurance carriers. Ultimately, that depends on whats on your credit, and will vary between each insurance carrier, as some are more flexible on bad credit than others.
 The surrender of an agents license voids all appointments held by the agent.  Surrendered license(s) may not be reinstated/renewed.
Notify the Michigan Secretary of State of the individuals death. In order to cancel the individuals drivers license number in the states system, take a copy of the death certificate and the drivers license to your local Secretary of States office.
Surrendering a license means giving up your license to an official body, like the DMV or a court. You can surrender a license voluntarily, or you could be compelled to surrender it as part of a suspension or revocation.
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To cancel or surrender a license or line of authority, the licensee must submit signed written notice to Texas Department of Insurance requesting to cancel the license or line of authority or in the case of an entity; written notice must be signed by the DRLP (officer, director or shareholder).

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