The Exit Planning Pathway explained by Phil Calhoun

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If you are like most health insurance professionals, you have reached the point to consider your plans for the future.  

Where to begin? While it may seem too soon to consider selling or merging, or even to stay solo forever when looking to grow and protect your commissions, the options can be enormous, and the impact of a proper plan is invaluable.   

To begin the planning process, you will need to determine which decision(s) is best for your immediate future as well as your long-term planning.  In many cases, you will need a plan to exit out of your health insurance business. 

Most health insurance professionals who decide not to merge with an outside firm either bring along family or employees to assume ownership from inside. Without an inside sale or transition option, brokers look for a buyer who will provide the best fit for their clients and offer the strongest buyout terms.  

When it is time to sell and pass to a new owner, your last and most important contribution is making a detailed succession plan. The thought of taking all of this on can be stressful, but it does not have to be. Keep in mind the typical planning period is three years. 

While there are many routes you can take to create an effective exit plan, we have included the basic steps to consider in our exit strategy graph. Your planning research does not need to be done alone. We offer experience in assisting health insurance professionals to evaluate their planning options.  

You can get started with a discovery call or review the voiced Exit Strategy graph below to learn more.