Apparently selling an FE book is not an option?

[jdeasy]

There's a poster that gets on here every few months bragging about selling all or part of his book.

I don't remember the name but he puts the company contact on here.

 

[WinoBlues]

In the past, I have AOR's whole books where the original agent keeps the renewals and service fees. I have also bought a couple of small books.

Just took a letter from the old agent.

 

[Allen Trent]

From what I was told because I'm vested 100% renewals will still be paid to me if I change the servicing agent. Is there a valid way to make this work?

This is how most life products work. New & renewal commission paid to the writing agent. After 8-10 years, service fees are paid & are paid to the servicing agent.

You need to ask the carrier if they have a method to change the writing agent & not just the servicing agent

 

[Ksutton]

Well if anyone's interested in helping me navigate this and wanting to purchase a small FE book, I'm open to looking at the options. Let me know.

 

[billyb]

Boston Familly Insurance

 

[HoosierLife]

I see - so can you transfer a solo book into an LLC?

I would think.

You would just get your LLC licensed and then contact the carriers and say you have an LLC now and then you become LOA to the LLC.

I imagine that's how most of us here are set up.

if you sold the LLC, the new owner could easily become the LOA licensed agent under the LLC as the Principal.

Or something like that.

But Scott is right. The carrier reps don't know what they're talking about most of the time.

 

[goillini52]

Boston Familly Insurance

I think that's the one JD was referring to.

 

[Ksutton]

What's the typical payout on a book? I.e 2x 4x 10x renewals ? I really have no idea

 

[goillini52]

What's the typical payout on a book?

 

[DonP]

What's the typical payout on a book? I.e 2x 4x 10x renewals ? I really have no idea

Medicare 1.5-2 x annual commission . I'm sure fe no more and might be less . Honestly financially your much better off turning your phone off and letting the renewals twindle over the yrs . You'll make much more .