What is the penalty for selling insurance without an insurance license?

Selling insurance without a license is considered a serious offense and can result in significant penalties, including fines, legal action, and potential jail time. The specific penalties vary by state or country but often include monetary fines that can reach thousands of dollars and possible restitution to affected clients. Additionally, unlicensed individuals may face civil lawsuits and could be barred from obtaining a license in the future. It is crucial for anyone interested in selling insurance to obtain the appropriate licensing and comply with regulatory requirements.