Looking to Sell My Medicare Book of Business!!

Discussion in 'Insurance Agency Acquisition and Valuation Forum' started by Phillyinsuranceguy17, Mar 29, 2012.

Tags:
  1. VolAgent
    Offline

    VolAgent Well-Known Member

    Posts:
    13,177
    Likes Received:
    20
    State:
    Tennessee
    Why would they buy what they already own? Odds are, he won't get any takers and it will be theirs by default.
     
  2. Sgt. Taylor
    Offline

    Sgt. Taylor Member

    Posts:
    5
    Likes Received:
    0
    State:
    Alabama
    Like I told Phillyinsuranceguy17, you might call ACCESS Capital Group. 1-800-560-2872.
     
  3. Midlevel
    Offline

    Midlevel Well-Known Member

    Posts:
    764
    Likes Received:
    0
    State:
     
    Josh,

    Mine is 95% Medicare products. 65% Med Sups and 35% MAPD's along with alot of GTL hospital indemnity. As far as transferring to wife upon my death wouldn't she have to be licensed or not?
     
  4. sman
    Offline

    sman Well-Known Member

    Posts:
    6,246
    Likes Received:
    7
    State:
    Georgia
    He can call them, but if he doesn't own the book of business he can't sell it. His FMO will have to agree to it.
     
  5. Josh
    Offline

    Josh Well-Known Member

    Posts:
    11,794
    Likes Received:
    2
    State:
    Virginia
    The MAPDs are a suckers bet to begin with.

    Why are we talking about death? Get her licensed and transfer it now. She's going to have to recert for the MAPDs and get appointed. Not all carriers will change the agent of record either.

    Another option is to get an agency license and have everything in the agency's license and then have your wife own the agency (and have a license still).
     
  6. policy doctor
    Offline

    policy doctor Well-Known Member

    Posts:
    1,704
    Likes Received:
    3
    State:
    Georgia
    Why sell? Perhaps he could set up a blind trust, or form LLC, or even get an exclusion agreement with future partner that only renewals are generated by current contracts, no new business.

    I'm sure without activity those contracts will term him. See a lawyer.
     
  7. Josh
    Offline

    Josh Well-Known Member

    Posts:
    11,794
    Likes Received:
    2
    State:
    Virginia
    What's the lawyer going to do? Sometimes I get confused about when people want to use attorneys.
     
  8. senior-advisor-indiana
    Offline

    senior-advisor-indiana Well-Known Member

    Posts:
    11,235
    Likes Received:
    4
    State:
    Indiana
    Maybe you should see a lawyer to answer this...:)
     
  9. Josh
    Offline

    Josh Well-Known Member

    Posts:
    11,794
    Likes Received:
    2
    State:
    Virginia
    Maybe the lawyer could help with that solicitation charge too. I thought the handcuffs were just a prop.
     
  10. Medigap
    Offline

    Medigap Well-Known Member

    Posts:
    61
    Likes Received:
    0
    State:
    Texas
    I believe Access Capital quit buying Medicare business
     
Loading...

Share This Page