It's Official, I've Reached 1000 Active Medsupps!

I have been a member on this forum almost since my first day in the Medicare business and I attribute much of my success to the things that I learned here. Starting in 2008 I put in 5 years as a captive agent and went independent in 2013. Since then my production has doubled and now at 35 yrs of age with 1k med supps on the books I find myself wondering... whats next? Shoot for 2k? Semi retire and just work my existing book for cross sales? I wonder how long we all have left to make money in this business. Maybe now is the time to sell my book and get out!

I'm open to sage advice and sarcastic assholery... Discuss.:biggrin:

Ive talked about getting to 1000 clients myself as being my "semi-retirement" goal, only diff is probably 70-80% of my book will be MAPDs (so lifetime renewals, but more yr to yr TO too).

CONGRATS man, thats a helluva achievement, lets see 1000 Xs $25/mo coming in without working = You Rich! LoL

My advice, u can afford 2 homes now....GTFO AZ between May-Sept & enjoy life below 100! :D:D:D

PS- Stay on the forum, and teach us all how to get to 1000 clients!

PSS- Im licensing in Az too, if u get lazy, pass them to me.
 
You won't need to buy leads much anymore. But work the book. Work the referrals. Maintain the base. And launch into action anytime there is a price increase with any of your carriers.
But never count on renewals with no work as your retirement plan. Like was said it will erode away and you have to work to maintain it. It's just easier work than building it.
 
Would you value your book at around $375000 if you were to sell it? Just trying to put it into perspective that I think I would service them and work the referrals like crazy and keep going for now.

I just spoke with an agent a few weeks ago who sold a portion of his book @ 1.8X the annual renewal commission (I personally thought he should have at-least got 2X).

Depending on the carriers, client age, premiums etc...

I would estimate 600K - 700K. :idea:
 
I just spoke with an agent a few weeks ago who sold a portion of his book @ 1.8X the annual renewal commission (I personally thought he should have at-least got 2X).

Depending on the carriers, client age, premiums etc...

I would estimate 600K - 700K. :idea:

I don't think I would sell 1000 clients for that price, but it sounds like the going rate
 
When people talk about selling their book, I cant help but think of the JG Wentworth commercials..."It's my money and I want it now!":biggrin:

When I used to see that commercial, I always thought I bet they rob people blind, taking advantage of people in bad situation,

I have no true knowledge of how they worked but the commercial Is what I would picture a snake oil sales pitch
 
When I used to see that commercial, I always thought I bet they rob people blind, taking advantage of people in bad situation,

I have no true knowledge of how they worked but the commercial Is what I would picture a snake oil sales pitch

Pretty much. I realize they need to make a profit, but I am pretty sure they gave people only a fraction of the present value of the annuity or structured settlement.

Now Oasis is advertising for people who are waiting on their lawsuit and they don't have to pay back the money if they don't win. I can only imagine the terms on that.
 
I don't think I would sell 1000 clients for that price, but it sounds like the going rate

Unless for some reason (maybe medically) I HAD to sell my book, I dont think I would ever sell it for any amount! I just busted my ass for 5, 6, 8yrs or however long it took me to reach a 1000 & Im going to sell it for 2 yrs of renewals, when those renewals (plus the referrals Id get off those renewals) would last me several yrs?

Nope, pass....all you would have to do is add 50/yr to keep up with loss of death, moving or just switched w/o you. Add another 50, and youd still be growing ya biz by 5%.
 
Pretty much. I realize they need to make a profit, but I am pretty sure they gave people only a fraction of the present value of the annuity or structured settlement.

Now Oasis is advertising for people who are waiting on their lawsuit and they don't have to pay back the money if they don't win. I can only imagine the terms on that.

Sure everyone needs to make a profits but companies that want to make a huge rip on the needy, giving them pennies on the dollar are the lowest of the low,
 
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