Residuals with no license or contact?

by Starcork

I was in the medicare insurance business very briefly - only a few months. I was contracted with Transamerica and sold one policy (to my brother). I since left the business, let my license expire, cancelled my contracts and handed my brother's policy over to another broker. The year after I sold my brother the policy I started getting small monthly payments from Trans...a residual I assume. Am I supposed to be getting this when I'm no longer contracted and licensed?

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by: Ted

you should read your contract. If it says that you are 100% vested. then Yes you will get residual checks. W call tis vested renewals. The other option is that it may may have been a balance owing from 1st year commissions that were not paid. Sorry for delay in Answering, I was down with the virus...Ted

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