Question I do not know the answer to

[Scotty1980]

I have a friend/associate who is looking to leave the final expense business. He is looking to sell his book of business. However he has no idea where/what to go to do this. Anyone have any recommendations?

 

[VolAgent]

Use the @WinoBlues method.

Take all the files off his hands and let him keep his renewals. Then do service calls for beneficiary changes, policy updates, etc. and find all the low hanging fruit to be written. Family member, additions, etc.

 

[Scotty1980]

I personally do not want to buy his book of business as I have my own. He wants to sell it all-including renewals. He just does not know where to go for someone who would buy his book of business.

 

[HoosierLife]

I'll give him $500.

 

[rousemark]

I personally do not want to buy his book of business as I have my own. He wants to sell it all-including renewals. He just does not know where to go for someone who would buy his book of business.

Seems most people are paying around 6 months of the renewal base for FE books with the agreement that the previous agent does not contact any of the insureds for two years,

 

[VolAgent]

As they said, I doubt he will get much upfront. Best option is to give the files to someone and keep the renewals.

 

[Markthebroker]

I love the "I have a friend..." question. 99% percent of the time it's bs.

 

[rousemark]

As they said, I doubt he will get much upfront. Best option is to give the files to someone and keep the renewals.

Yeah.. An RD with Columbian told me that when an agent sold his home service business, which is not vested if you don't have a licensed person to take over for you, 6 months of the commission is pretty much the top. I would think that, in most cases is a great deal for the buyer.

 

[bboman23]

1-855-709-0541
[email protected]

I have no affiliation at all with this group and have never spoken to them. I just got an email flyer about them buying books and renewals. At least it is something he can try.

 

[goillini52]

I personally do not want to buy his book of business as I have my own. He wants to sell it all-including renewals. He just does not know where to go for someone who would buy his book of business.

Considering the low renewals and low persistency on FE, I wouldn't think it would be worth much.
He should probably take Josh up on his offer.