Buying a Medicare book of business?

[Alexander Bialek]

I'm a somewhat young captive medicare agent and I have other peers/mentors who are also captive agents with great books of business. These colleagues are getting old. Some have health issues. I know people buy and sell agencies with life insurance, etc. But is it a thing with Medicare? Or do you ask for their referral if they retire? So you can help their clients.

 

[Packerland]

Purchase a book of business if you get the opportunity.

Make sure it's in an area that is close to where you live.

In your situation I would never even consider a book of business that is not within driving distance of where you live.

Books of business are worth anywhere between 1.5x and 3x annual revenue depending on many factors.

I have purchased many books over the last 5 and have been happy with each other purchase.

PM me if you have specfic questions?

 

[Midlevel]

Purchase a book of business if you get the opportunity.

Make sure it's in an area that is close to where you live.

In your situation I would never even consider a book of business that is not within driving distance of where you live.

Books of business are worth anywhere between 1.5x and 3x annual revenue depending on many factors.

I have purchased many books over the last 5 and have been happy with each other purchase.

PM me if you have specfic questions?

That would be a great chance to try out your experiment. But a book of only Med Sup clients and actually present them their options next AEP and see how many switch to MA.

 

[Packerland]

That would be a great chance to try out your experiment. But a book of only Med Sup clients and actually present them their options next AEP and see how many switch to MA.

I am actually doing that this year...paying 1.25× for a Med Supp BOB...

 

[DonP]

I am actually doing that this year...paying 1.25× for a Med Supp BOB...

That’s crazy why someone would sell a Medicare bob for 1.25 times commission . They could turn there phones off and just make the renewals for 2 to 3 times that over the 6 yr payout period . I read an extensive piece on buying books . Depends on median age of client. What % are ma or med supp. What % are dsnps . What I’ll do is when I decide I no longer want to grow . I’ll simply stay at home and answer my phones . I’ll work all referrals by phone only .During aep I’ll simply move only clients who call me to move . After the first couple of yrs as my book starts falling I’ll no longer work any new business . At yr 3-4 I’ll send a letter out I’m retired call the company if you need something . Even in yr 1-2 of these I’ll take months off . Over 3-4 yrs I fig my book will be cut 60% plus .

 

[Packerland]

That’s crazy why someone would sell a Medicare bob for 1.25 times commission . They could turn there phones off and just make the renewals for 2 to 3 times that over the 6 yr payout period . I read an extensive piece on buying books . Depends on median age of client. What % are ma or med supp. What % are dsnps . What I’ll do is when I decide I no longer want to grow . I’ll simply stay at home and answer my phones . I’ll work all referrals by phone only .During aep I’ll simply move only clients who call me to move . After the first couple of yrs as my book starts falling I’ll no longer work any new business . At yr 3-4 I’ll send a letter out I’m retired call the company if you need something . Even in yr 1-2 of these I’ll take months off . Over 3-4 yrs I fig my book will be cut 60% plus .

Purchasing a Medicare book of business involves my evaluation process, with various factors coming into play. The age of the clients, the duration of their client in the 6 year cycle an immediate payout versus over a set time framr among other factors. These variables collectively determine the valuation and feasibility of acquiring the book of business.

 

[Bevo]

I am actually doing that this year...paying 1.25× for a Med Supp BOB...

I'd take that deal all day long.

 

[ValeRosso]

I'd take that deal all day long.

Same…some dude tried to sell me his BOB but wanted 3x annual.

 

[tikibarrister]

I read an extensive piece on buying books .

Can you share a link?

 

[DonP]

Actually it’s video from sept . Christian brindle who’s bought many books and just sold to integrity. Start at min 3:30