Best Product for Residuals?

[cowgoesMoO]

Call me at 313 728 3245 and I'll let you know. It depends on a few variables

What?

are you a recruiter? or do you have some top secret info that you can only share via cell phone conversation?

 

[WinoBlues]

What?

are you a recruiter? or do you have some top secret info that you can only share via cell phone conversation?

 

[Roy2015]

Thanks everyone for the responses. I definitely will not be looking to solely rely on the renewals for my retirement. I'm jus trying to get several different income streams so I can one day retire comfortably. I have heard that FE is not a good direction for renewal income b/c of the low retention rate of those types of policies. What about med supps? What is a typical renewal commission % for those?

 

[Newby]

Thanks everyone for the responses. I definitely will not be looking to solely rely on the renewals for my retirement. I'm jus trying to get several different income streams so I can one day retire comfortably. I have heard that FE is not a good direction for renewal income b/c of the low retention rate of those types of policies. What about med supps? What is a typical renewal commission % for those?

Med sups pay the same renewal as the first year. But it stops after six years.

Between $150-$300 per sup would be the average range depending on the premium. Selling older ages and plan F or G will net you more than younger (65) ages and plan N. But if you retire for seven years or longer, you might need to go back to work.

Save for retirement. Use your renewals for your play money.

 

[rousemark]

Med sups pay the same renewal as the first year. But it stops after six years.

Between $150-$300 per sup would be the average range depending on the premium. Selling older ages and plan F or G will net you more than younger (65) ages and plan N. But if you retire for seven years or longer, you might need to go back to work.

Save for retirement. Use your renewals for your play money.

If you write the older ages, you might have to go to work sooner than that.. In addition to the normal lapses, a larger percentage of your clients are going to die off.

 

[Roy2015]

Thanks guys...What about FE renewals...I'm a little confused because I had talked with a RM at Lincoln Heritage a while back and he had mentioned that they pay 1% renewals. Does this mean starting in 1 year from issue I would get 1% of annualized premium per month? Also..I had talked with someone else who had said with a different Imo I would get like 6-8%.

How do renewals work with FE? What is typically the renewal % agents get?
Thanks in advance!

 

[Newby]

Thanks guys...What about FE renewals...I'm a little confused because I had talked with a RM at Lincoln Heritage a while back and he had mentioned that they pay 1% renewals. Does this mean starting in 1 year from issue I would get 1% of annualized premium per month? Also..I had talked with someone else who had said with a different Imo I would get like 6-8%. How do renewals work with FE? What is typically the renewal % agents get? Thanks in advance!

Average renewals with FE are around 7% but can be as high as 15%.

LH's 1% means that your up line is getting yours. It means for every $100,000 you put on the books that sticks, you will get $1,000 per year and he (your up line) will get $6,000 from your effort.

If you MUST sell Lincoln, shop for a more generous up line to contract under. But why sell Lincoln when you have so many other choices that will be cheaper for your customers and also pay you better?