Selling Medicare can provide a great living for many agents. However, working for yourself leaves you vulnerable unless you have a succession plan to provide income after retirement or to take care of your family in case of death. What would happen to your revenue stream if you had a hardship such as a health issue, disability, or had to care for someone else? 48% of American retirees leave work earlier than expected, according to new data on www.businessinsider.com. This topic is often ignored or postponed because the ego cannot stand to think that you just may not be able to keep up anymore. It is more important than ever to expect the unexpected. Thus, protecting your asset and revenue stream is an integral part of your business plan and should be accounted for before it is too late.
Hovis & Associates provides their agents two retirement options:
- Transfer on Death (TOD): We will pay your selected beneficiary (or beneficiaries) upon death for business that is successfully transferred over.
- Book of Business Buyout: Hovis & Associates buys your current book of business upon retirement and will pay you on what business is successfully transferred over. We prepare the forms and manage the transfer.
We have had several successful transfers with over 16 major carriers in the industry. Please note that there are carriers that only allow the upline to take over the business; thus, selling to another broker other than your upline does not allow for a transfer of your old business to occur. Our agent services team manages every step of the process and makes sure your clients are in the best hands possible. Maintaining your certification status until the transfer is complete is integral for these transactions to take place and that is why planning your retirement is so important.
If you have questions or would like to know more about our services, go to our Agent Services page on HovisandAssociates.com. If you would like more information about Hovis & Associates’ retirement options, you can call Kevin Hovis at (888) 613-6196 or attend our meeting on this topic. RSVP here.
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