This Recruiter Won't Answer my Questions!

Basically a residual requires no real action. Think fees for additional printings of a book, syndication fees to a tv actor, fees from tv channels for a movie to the actor, etc.

All you have to do is wake up again, and that isn't always necessary, and have your accountant audit the statements.

For renewals, action has to happen. You are expected to service the policy, perhaps remind them if a missed payment, help with changing bank, changing beneficiary etc. For most policies, there is really little needed to do for renewals, while others require a lot more work. The closer the renewal commission is to the first year commission, the more work you are probably going to be doing to keep the policy on the books.



I'm surprised at the # of IMO websites that I've seen talk about residuals instead of renewals. It's no wonder some of these new guys get the terms confused.

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Haven't seen this advice previously in this thread, but you really don't have a chance. Having to "feed your family" is wayyyyy too much pressure to put yourself under!

Despite what those trying to recruit you may say, a steady job (to feed your family) is a better choice.



Agreed....but he did say he was disabled and it's hard for him to get out of the house, so what's he got to lose?
 
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