Succession Planning for Health Insurance book of business

HealthGuy

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Hypothetically if you were diagnosed with cancer and had 6 to 12 months to live what would be the best and easiest way to

1. Have your business transition over into your 25 year old son's possession?

2. Would your son have to be licensed?

3. Is there in insurance consultation company that helps specialize in transitioning a book of business for succession planning?

Thanks in advance. As agents we own a "book of business" vs really owning a brick and mortar business. How can we maintain most of the control over our "book" if we were to pass away.
 
Yes son would have to be licensed. Without that it doesn't work.
Basically agent of record sign offs. You could work out the details.
As far as valuation of a health insurance book of business... good luck. Unpredictable situation.
 
What if you contracted with an intermediary licensed insurance agent for your son in the event something bad happens to you?

The intermediary would be in charge of your continuing business while your son gets licensed. Agent would take a cut of profits in exchange for the ease of using your existing relationships and book.
 
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