Urgent Advice - Deceased Health Insurance Agent

[Jim000]

Hello.

I am posting regarding my father that was a licensed health insurance agent working as an independent broker in conjunction with various agencies in California.

Unfortunately, my father recently passed and I am looking for advice as to how I might go about handling his business. The business is not under a corporation or partnership and so in order to "make use" of his clientele I believe I would need to have each client sign a Broker of Record (something I am hesitant to do due to the required time it would take to contact each client).

On another front my father has been sick for some time and increasingly so, as such he was unable to provide much insight regarding what to do when he had passed (Stage IV B cancer). Would someone be able to provide insight as to how long the insurance companies will continue to provide commissions following his passing? Are there any death benefits for surviving family members?

Please, any and all advice would be sincerely appreciated.

Thank you.

 

[goillini52]

Hello.

I am posting regarding my father that was a licensed health insurance agent working as an independent broker in conjunction with various agencies in California.

Unfortunately, my father recently passed and I am looking for advice as to how I might go about handling his business. The business is not under a corporation or partnership and so in order to "make use" of his clientele I believe I would need to have each client sign a Broker of Record (something I am hesitant to do due to the required time it would take to contact each client).

On another front my father has been sick for some time and increasingly so, as such he was unable to provide much insight regarding what to do when he had passed (Stage IV B cancer). Would someone be able to provide insight as to how long the insurance companies will continue to provide commissions following his passing? Are there any death benefits for surviving family members?

Please, any and all advice would be sincerely appreciated.

Thank you.

http://www.insurance-forums.net/forum/life-insurance-forum/commissions-after-death-t73886.html

 

[WinoBlues]

Hello.

I am posting regarding my father that was a licensed health insurance agent working as an independent broker in conjunction with various agencies in California.

Unfortunately, my father recently passed and I am looking for advice as to how I might go about handling his business. The business is not under a corporation or partnership and so in order to "make use" of his clientele I believe I would need to have each client sign a Broker of Record (something I am hesitant to do due to the required time it would take to contact each client).

On another front my father has been sick for some time and increasingly so, as such he was unable to provide much insight regarding what to do when he had passed (Stage IV B cancer). Would someone be able to provide insight as to how long the insurance companies will continue to provide commissions following his passing? Are there any death benefits for surviving family members?

Please, any and all advice would be sincerely appreciated.

Thank you.

I have in the past acquired books of business from the spouse of the agent. She simply wrote a letter to the company and asked that I become agent of record. In those cases I left the renewals with the widows. These were Life books so that may be different. I Assume you are already licensed. If not that may be your first hurtle.

Call the companies.

Calling all the clients for a AOR is a hell of a lot easier than having to go out and write that business and may be a good way to introduce yourself.

 

[Quotebroker]

Hello.

I am posting regarding my father that was a licensed health insurance agent working as an independent broker in conjunction with various agencies in California.

Unfortunately, my father recently passed and I am looking for advice as to how I might go about handling his business. The business is not under a corporation or partnership and so in order to "make use" of his clientele I believe I would need to have each client sign a Broker of Record (something I am hesitant to do due to the required time it would take to contact each client).

On another front my father has been sick for some time and increasingly so, as such he was unable to provide much insight regarding what to do when he had passed (Stage IV B cancer). Would someone be able to provide insight as to how long the insurance companies will continue to provide commissions following his passing? Are there any death benefits for surviving family members?

Please, any and all advice would be sincerely appreciated.

Thank you.

Are you trying to service this business as an agent yourself? If so you'll have to be licensed. If you're just trying to sell the business to extract value you can certainly do that, although IFP health renewals were already worth very little and even less so now with the Anthem announcement in CA.