Need Advice on How to Sell My Blue Shield Medicare Supplement Book of Business

xb29bomber

New Member
15
Hi. I'm new on this forum, so please forgive me if I'm not doing this right. I currently have 16 remaining Medicare Supplement policy holders that I've had for years in Washington state. Blue Shield is cancelling my contract because I've fallen below 20 clients. Thought I'd try to sell it rather than lose everything. (I'm presuming I can do that.)

The monthly income is almost $400 per month ($4,800 per year). Have been told that the selling price would be 1 to 2 times the annual income, but I'm not sure. Anyone have any advice on determining a fair selling price, where to advertise it, etc.? Anyone interested in buying it?

Thanks,

Ron
 
Hi. I'm new on this forum, so please forgive me if I'm not doing this right. I currently have 16 remaining Medicare Supplement policy holders that I've had for years in Washington state. Blue Shield is cancelling my contract because I've fallen below 20 clients. Thought I'd try to sell it rather than lose everything. (I'm presuming I can do that.)

The monthly income is almost $400 per month ($4,800 per year). Have been told that the selling price would be 1 to 2 times the annual income, but I'm not sure. Anyone have any advice on determining a fair selling price, where to advertise it, etc.? Anyone interested in buying it?

Thanks,

Ron

Any reason to not find more clients?
 
I tried to find more clients, but their Medicare Supplement rates, especially for Plan F, are not competitively priced.
 
No one is going to pay you that much. I've had many colleagues sell their books of biz in different lines. It's never ever been what they wanted. You might think about giving the policies to a hungrier rep. Split the commission on them with the stipulation that he/she write new biz and give you splits on that as well.
 
Bcbs is tied for the cheapest med supps here in FL but if someone wanted to sell me their book I guess it would depend on how many years were left on residuals
 
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