Want to Sell Book of Business...

[IndianaAgent]

I am an independent agent and want to sell a book of business that I have with one company. The book of business is made up entirely of Medicare Advantage plans. It currently generates about $950/mth. Does anyone know of any companies out there that buy renewals? I've been searching online and haven't had any luck. I've been told I can get anywhere from 2 to 3 times the annual renewal amount. Thanks....

 

[STIBROKER]

and why would you sell it..........

 

[GreenSky]

Given the "iffy" future of Medicare Advantage in general and the likelihood that people will change their plans within 2 years (my experience), why would you think the renewals would be worth 2-3 times annual?

Why would you sell something generating almost $12K a year in renewals if you didn't think they'd continue.

Something doesn't smell quite right.

Rick

 

[jdeasy]

I am an independent agent and want to sell a book of business that I have with one company. The book of business is made up entirely of Medicare Advantage plans. It currently generates about $950/mth. Does anyone know of any companies out there that buy renewals? I've been searching online and haven't had any luck. I've been told I can get anywhere from 2 to 3 times the annual renewal amount. Thanks....

You should sell it to whoever told you that.

 

[sman]

Good luck with that. As has already been stated, most people with MA plans rarely stay on the same plan. I wouldn't pay you one year's worth of renewals on MA plans. If they were Med Supps, you could get the 2-3 times figure (assuming they were less than 3 years old), but not with MA plans.

I am an independent agent and want to sell a book of business that I have with one company. The book of business is made up entirely of Medicare Advantage plans. It currently generates about $950/mth. Does anyone know of any companies out there that buy renewals? I've been searching online and haven't had any luck. I've been told I can get anywhere from 2 to 3 times the annual renewal amount. Thanks....

 

[lucasr]

Is that even possible with MAs?? What part of IN are you in??

 

[GreenSky]

What part of IN are you in??

There's more than one part?

Rick

 

[senior-advisor-indiana]

There's more than one part?

Rick

There is two parts. Part hillbilly and part meth heads.

 

[Todd King]

I am an independent agent and want to sell a book of business that I have with one company. The book of business is made up entirely of Medicare Advantage plans. It currently generates about $950/mth. Does anyone know of any companies out there that buy renewals? I've been searching online and haven't had any luck. I've been told I can get anywhere from 2 to 3 times the annual renewal amount. Thanks....

Give TWG Capital a call.

 

[senior-advisor-indiana]

Give TWG Capital a call.

I think I spoke with them years ago when I was going to sell my captive block of med Supp business. I believe they offered me 2.5x the annual renewal. I highly doubt anyone would buy MA's though for the reasons others have stated. It could possibly be a good deal for an agent to buy the block and hope like hell that MA's go down the tubes and write them med supps, not for 2.5 x's though