Do Any MA Plans Pay Renewal Commissions Upon Agent's Death?

[wehotex]

I'm trying to get my Dad licensed so that he can offer MA plans as a part-time income to supplement his Social Security. We all eventually die. If he were to die, what happens to the Renewal commissions? They are supposed to pay for up to 6 years. Can he pass then on to my Mom for the life of those policies?
If he died, how would the companies know that he's deceased? I would imagine that he would be termed for non-production, but let go as no-fault and continue to receive his renewals that he earned.

It sounds morbid, but better to know the answers now before he invests time and money to get his group 1 license.

 

[bdagent]

Any renewals will pay to survivors if you are vested (which you should be as long as you are not assigning commissions to an FMO or Agency of some sort).
You should have all that info in your contract.
What areas are you selling in and with what carriers?

 

[wehotex]

Any renewals will pay to survivors if you are vested (which you should be as long as you are not assigning commissions to an FMO or Agency of some sort).
You should have all that info in your contract.
What areas are you selling in and with what carriers?

He will most likely sell in corpus christi, tex and san antonio.
UHC Secure Horizons, Humana & physicians Health choice & Bravo Health

 

[Frank Stastny]

Why just MA plans? Why not Med Supps also?

He will make more money selling Med Supps. With good contracts the commissions are going to be greater and we know Med Supps will pay for the first seven years in TX.

Call me if you would like more information. I also have excellent contracts.

 

[Norwayguy]

I'm trying to get my Dad licensed so that he can offer MA plans as a part-time income to supplement his Social Security. We all eventually die. If he were to die, what happens to the Renewal commissions? They are supposed to pay for up to 6 years. Can he pass then on to my Mom for the life of those policies?
If he died, how would the companies know that he's deceased? I would imagine that he would be termed for non-production, but let go as no-fault and continue to receive his renewals that he earned.

It sounds morbid, but better to know the answers now before he invests time and money to get his group 1 license.

To recieve MA commissions you must be certified to sell the plan each year. If you passed away that would make it difficult to remain certified.

 

[wehotex]

To recieve MA commissions you must be certified to sell the plan each year. If you passed away that would make it difficult to remain certified.

But would you still have to be certified for Renewal commissions. If the agent elects not to recertify, then no NEW business could be written, but wouldn't he receive renewals on the already written business?

 

[CSIC]

I am a general agent for Physician's Health Choice. I can tell you they will not pay commissions on renewal business upon death. I had two agents working for my agency that passed. I believe it is the same for some carriers, not all...

If you need to have your father contracted, please let me know... I have my office in Corpus.

[email protected]

 

[policy doctor]

S-H-H-H-.....I got paid renewal commissions on MA business for year 2 while not certified with a company .

Perhaps they made a mistake?



Then again, I am alive.

 

[wehotex]

S-H-H-H-.....I got paid renewal commissions on MA business for year 2 while not certified with a company .

Perhaps they made a mistake?



Then again, I am alive.

Doesn't a company have an obligation to pay renewal commissions as long as that Agent has a State License? I understand that the Agent would not be able to market or sell, but wouldn't renewals continue?