How 3 Medicare Agents Handled Selling Their Book of Business
August 29, 2022

Have you ever wondered what it's like to sell your book of business? Hear directly from 3 agents who have gone through the perpetuation planning process.

These 3 senior market agents sold their business to us here at New Horizons, and we now service their customers.

All of these books of business had a mix of product types, but they were heavily Medicare Supplement with some Medicare Advantage sprinkled in. These are their stories.

Want to watch all of the webinars in this series? Check out our new Perpetuation Planning Hub. 

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Holly Roberts: Sold In 2020

Holly RobertsHolly Roberts has been in the insurance industry since he graduated college. He has offered Medicare products since 2006. He retired and sold his book of business to New Horizons in 2020. However, he still has his license and is thinking of getting a few new contracts to help out family and friends who are aging into Medicare soon.

Q: Do you remember why you reached out to us originally?

A: I responded to one of your weekly email newsletters. One of the things that caught my eye was the fact that y'all were interested in talking to people who might be ready to retire and sell their business. That's what did it.

I kind of felt a little awkward because I'd never done business with New Horizons, but I still wanted to talk to you. Y'all were really kind, and you explained yourself well. I was up visiting my daughter near Chicago, and I thought we'd stop by and visit with you in Decatur. That was good, too.

Q: Looking back, do you wish you would've sold earlier or hung on longer?

A: I prayed about it and honestly, the timing was perfect. COVID was hitting really strong then. Things were shut down and it just worked out, because people were still needing to take care of insurance, but they weren't meeting face-to-face or in person.

I was old-school, and I just kind of met people at the kitchen table and went to their houses. It just worked out really well; the timing was good for me.

Q: Do you get any feedback from your customers on the transition?

A: I serviced my county and the counties that touched mine. It was all local. If I had any out-of-state customers, it was referral business. And yes, my customers are all happy. I do run into some occasionally here in town, and they're being treated well.

I kind of spoiled them, because they could see me at their house or my house. But remote sales is the new normal, especially after the pandemic hit. We have to do things not quite as much in person now.

But my clients have been treated really well, and I'm thankful for Luke and his crew.

Q: You kept your license and are turning 65 soon. Are you thinking of selling again?

A: All of our friends and schoolmates are turning 65 soon, so we have some possibilities to help other people out. 

Kevin Wood: Sold In 2022

Kevin WoodKevin Wood has been in the senior insurance market for 26 years. In 2022, he and his family decided to move out of state. He felt like it was best to turn those customers over to us. Once he gets to Florida, he may start up a new book of business.

Q: When and why did you decide to reach out to us about selling your book of business?

A: I talked to John Hockaday mid-March 2022 that I was interested in selling. I saw a blog about how to sell your agency without paying too much in taxes. That sparked things and I reached out shortly after that. If you're contemplating selling, you need to look at that blog! It was very informative to me. 

Q: Why did you decide to sell to New Horizons?

A: I've been doing business with New Horizons for about 15 years. In this business, people promise you the moon but they can't do it. You either tell me you can do it or you tell me you can't. That means a lot. It means a lot in this business, and it means a lot to me.

Also, I probably went above and beyond with my clients, and I know you'll keep that tradition going with them. You contacted them already and followed up shortly after that. That's what clients like! They want to be in touch.

Everyone who's been in this business has heard that story of an agent who sold the policy, ran out, and you haven't seen them since.

Q: Were you happy with the valuation?

A: I had a price in mind that I wanted for my book of business, you know. We submitted the paperwork to you guys, you valued it, and I came back with another price, and you got pretty close to what I was looking at.

It's not like you're going to get pennies on the dollar. You stepped up and gave me an actual valuation of my book of business. And I appreciate that.

Q: Will you start up a new book of business when you move to Florida?

A: I probably won't be in it as actively as I was before, but the Medicare market is something I know I can talk about in my sleep. Also, the Florida market versus the Indiana market is a lot different. I'm a big Medicare Supplement proponent, but Florida has a big market for MA.

Harry Kneifel: Sale In Progress

Harry KneifelHarry Kneifel, age 71, has been in senior market insurance sales for 22 years and has worked with New Horizons for over 18 years. He decided to sell in March 2022, had second thoughts, and hit pause. Six months later, he decided he is ready to sell and the sale is now in progress.

Q: What made you say it's time to sell?

A: I've loved doing this for all the years I've been doing it, because I was passionate about it. I'm not finding myself as energized as I get into new conversations. That, to me, is against the rules.

If I'm not feeling energized, passionate, and ready to give 110%, then I'm not doing what I should be doing. So maybe it's time to change the channel. That's really what did it.

Q: We went through a valuation in March, but you weren't quite ready. Six months later, you decided you were ready. What changed?

A: I had second thoughts, yes. For six months, I gave it that extra shot. It's not like I don't care, but it's not as all-consuming for me as it was for so many years. If the shoe was on the other foot, I wouldn't want someone else to be talking to me in a smiling yet half-hearted way.

Q: Why New Horizons?

A: You guys deserve all the time and attention I've spent with you and your staff. You're always there. You always have the answer. I can't hardly get on the phone without having your quoting tools up on the other screen. I haven't needed to look anywhere else for help. That's it.

You stand out, and I even tell people that my go-to team is in Decatur, IL. They say, "Where?!" But you're it!

Watch the 3 Case Studies

You can watch these 3 agent experiences by checking out the webinar recording:


As you can see from these 3 stories, every agent is different! Motivations and timing are all unique, but the common thread is that each agent had a pleasant experience working with us here at New Horizons.

If you're interested in learning more about perpetuation planning, whether you're in your prime or retirement is on your horizon, check out the Perpetuation Planning Hub.

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You can also schedule a Discovery Call with me directly on my calendar:

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