Question: My broker is in his early 80s and I am little worried. He is a real work horse and I see no signs of slowing down. I can call him 6 am in the morning and he is in the office and always carries his cell phone with him. He is great but I still want to know what happens to my policy if he decided to retire suddenly. I am embarrassed to ask this question to him. As I said he is unlikely to stop any time soon despite his age.
Answer: It looks like your broker is working alone from his office. In that case it is understandable that you may think what would happen if he close down the practice or it gets closed down due to his departure from this world. First of all you have your policies with you and you can contact the company direct if you ever need to. He is only a middleman in this case and you are insured by the company. Secondly, they may appear to be operating alone but usually they are part of a much larger independent brokers or a nationwide agents network.
Such networks have contingencies in place for closed practices. It wouldn’t take long for someone else to take over the practice’s clients. Looks like you have someone with abundance of experience. I would not worry about other things and let it sort itself out should it come to that.