Captive to Independent...What's the Process??

shawnhersh

Expert
21
I have thought about it over and over and have pretty much determined after AEP this year I am going to move to independent status. I looked at my IC agreement and I'm confident I can keep my current book.

In moving to independent, what are some thing I can be doing now, if any? Also, what is the time frame to getting certified and selling? I've identified all the major players in my market, but have had no communication with them outside of UHC.

It's an exciting jump but a little daunting at the same time. From everything I've read, I know it has potential to be a great decision, just have to make it happen on my end.

For those independent producers, would love to hear your thoughts, advice and guidance. Thanks!
 
What zip code are you in?
Plan on doing Med supps and MAPD? Assuming you’re a “Medicare” agent
 
I have thought about it over and over and have pretty much determined after AEP this year I am going to move to independent status. I looked at my IC agreement and I'm confident I can keep my current book.

In moving to independent, what are some thing I can be doing now, if any? Also, what is the time frame to getting certified and selling? I've identified all the major players in my market, but have had no communication with them outside of UHC.

It's an exciting jump but a little daunting at the same time. From everything I've read, I know it has potential to be a great decision, just have to make it happen on my end.

For those independent producers, would love to hear your thoughts, advice and guidance. Thanks!

One Life America and Heartland Financial Group and do all of that . . .

We have our own DVH and HIP plans.

We also have excellent connections in the Med Sup market.

Medicare Advantage is one of our specialties. We are a top IMO with the Big 3 . . .

Full Standardized commissions on the Health side.

Call if I can help . . .

 
Go to Medicare.gov and look up the MAPD plans in your area and get appointed. Use CSG to see the top Med supps in your area and do the same.
 
I remember when I made that jump to being independent! I didn't get to keep my book though, so you have that going for you. The biggest mistake I made in the beginning, as simple as it sounds, is that I didn't manage my money well. When I became independent, I didn't have very much money for marketing.

In this business, cash flow is super important. I would stash all the acorns you can so that way your business and livelihood don't have to take a hit. Best of luck to you!
 
I'm taking you're wanting to work with numerous other companies along with UHC? I recommend starting out by finding a great FMO. I'm a newly independent agent and that's how I got the ball rolling. Mine is 2 states away but has helped me so much by appointing me with the best companies in my area. I can call on them for absolutely anything insurance-related. Definitely do your research to find the best one for you.
Getting appointed was a lengthier process than I imagined because of the training and certification needed in order to sell for certain companies. Especially if you're wanting to do Med Supp and MAPD that requires more training. As an example, one company took 2 weeks to be fully appointed. Whereas another company it took 3 days. Some companies just require more training than others.
It's not a difficult process by any means, just can be time consuming. But well worth it and I hope this helps in some way! Good luck!
 
I have thought about it over and over and have pretty much determined after AEP this year I am going to move to independent status. I looked at my IC agreement and I'm confident I can keep my current book.

In moving to independent, what are some thing I can be doing now, if any? Also, what is the time frame to getting certified and selling? I've identified all the major players in my market, but have had no communication with them outside of UHC.

It's an exciting jump but a little daunting at the same time. From everything I've read, I know it has potential to be a great decision, just have to make it happen on my end.

For those independent producers, would love to hear your thoughts, advice and guidance. Thanks!

Shawn, I'm not sure just how many companies you have right now (maybe just one?), but I'm sure you're going to need a release.

Also, you still have time to pick up new MA contracts if you hurry. Otherwise, you'll be stuck until after the beginning of the year.
 
I'm taking you're wanting to work with numerous other companies along with UHC? I recommend starting out by finding a great FMO. I'm a newly independent agent and that's how I got the ball rolling. Mine is 2 states away but has helped me so much by appointing me with the best companies in my area. I can call on them for absolutely anything insurance-related. Definitely do your research to find the best one for you.
Getting appointed was a lengthier process than I imagined because of the training and certification needed in order to sell for certain companies. Especially if you're wanting to do Med Supp and MAPD that requires more training. As an example, one company took 2 weeks to be fully appointed. Whereas another company it took 3 days. Some companies just require more training than others.
It's not a difficult process by any means, just can be time consuming. But well worth it and I hope this helps in some way! Good luck!
This does help, thank you! Most of the questions I have revolve around the certification process and also how commissions work with being independent. I don't know much about FMO's but this will be something I will look into. Any tips on things to look for?
 
Back
Top