MDRT The Premier Association of Financial Professionals ®
HOME MDRT FAQ's

INCREASE TEXT
 

 
Home > Membership > Membership Requirements
 

2014 Membership Requirements

2014 Membership Requirements
print version
(PDF)

 

2015 Membership Requirements
print version
(PDF)

 

PRODUCTION REQUIREMENTS
  1. Production Methods
    Membership in the 2014 Round Table will be based on the following production methods:
    • Commission/Fee Method
      A minimum of USD 91,000 of eligible commissions paid is required. Of this total, a minimum of USD 45,500 of paid commissions (50 percent of the requirement) must come from products listed in the Unlimited Credit category.
    • Premium Method
      A minimum of USD 182,000 of eligible paid premium is required. Of this total, a minimum of USD 91,000 of premium (50 percent of the requirement) must come from products listed in the Unlimited Credit category.
    • Income Qualification Method
      A minimum of USD 156,000 in annual gross income from the sale of insurance and financial products is required. A minimum of USD 45,500 must be income from new business generated during the production year. Further, a minimum of USD 45,500 must be derived from income associated with risk-protection products (products eligible for Unlimited Credit under the commission or premium methods). It is possible that the same business, for example the sale of new life insurance policies, could satisfy both requirements.

ELIGIBILITY
  1. Qualification Overview
    • First-time applicants for MDRT must use either the commission or premium methods to demonstrate qualification for membership. (See chart below)
    • Any individual with prior MDRT membership is eligible to apply using the income qualification method.
  2. MDRT Status Designations
    Each MDRT status designation is granted for one year only. All members must apply every year to continue their affiliation with MDRT.
    • Qualifying Member An individual who is a first-time applicant becomes a Qualifying (Q) member when his/her application papers are approved. Until the 10th year of membership is attained, the member will be a Qualifying member.
    • Qualifying And Life Member
      An individual becomes a Qualifying and Life (QL) member when approved for the 10th year of membership. The year or years during which Provisional Applicant status was/were held are counted. Qualifying and Life status is maintained in future years by submitting an application each year attesting to having met current minimum production levels and by paying the required dues.

    • Life Member
      After Qualifying and Life membership has been attained, Applicants for Life status will declare that they did not meet the production requirement, but still wish to continue their MDRT membership. Life members must annually submit an application and pay dues.
  3. Qualification and Production Reporting Matrix
    - The table below illustrates the production qualification and verification rules for those applying for membership using the commission, premium, or income qualification method. All production figures below are expressed in U.S. dollars.

 

REPORTING
Please Note: Applicants may not combine production credit from the methods to attain the minimum requirement. Applicants will be approved only under one method.

  1. Verifying Production
    • Commission And Premium Verification First-time applicants must apply using ONLY the commission or premium methods and supply a certifying letter(s) with third party verification. Those applying for Qualifying membership (years two through 10) may submit the customary certifying letters with third party verification for commission or premium or submit a self-signed income certifying letter and attach supporting documents for the income qualification method as outlined above. Certifying letters may be completed by a representative of the company/broker dealer/brokerage agency, a Certified Public Accountant (or equivalent), or a representative of the applicant's personal agency/corporation or office.
    • Income Verification Verification of eligible production under the income qualification method will be accomplished via an income certifying letter signed by the applicant.
    • Simplified Reporting for Qualifying & Life and Life Members Once eligibility for Life status has been attained, members who have achieved Qualifying and Life or Life status are eligible to submit an application each year attesting to having met current minimum production levels and by paying the required dues. Proof of production (i.e. certifying letters or commission/income documents) will not be required beginning in the eleventh year. Applicants for Life status will declare that they did not meet the production requirement, but still wish to continue their MDRT membership.
  2. Court of the Table
    • Applicants must continue to submit proof of production via certifying letter(s) until achieving 10 years of membership at the higher level. They may attest to their eligibility without certifying letters or income documents when applying for the eleventh year of membership at Court of the Table level.
  3. Top of the Table
    • Applicants must continue to submit proof of production via certifying letter(s) until achieving 10 years of membership at the higher level. They may attest to their eligibility without certifying letters or income documents when applying for the eleventh year of membership at Top of the Table level.
  4. Application Forms
    • Applications for 2014 MDRT membership will automatically be sent in November 2013 to all 2012 and 2013 MDRT members. Others may request an application by phone, fax or through the MDRT Web site at www.mdrt.org.
  5. Certifying Letters
    • An application for Qualifying membership will be considered incomplete, and membership may be denied, unless a certifying letter signed by an official from the company an applicant is using for MDRT production is attached to the membership application when applying under the commission or premium method. These companies may include life insurance companies, agencies, brokerage companies, broker/dealers, banks or mutual fund companies. Also acceptable would be a certifying letter completed by a representative of the company/broker dealer/brokerage agency, a Certified Public Accountant (or equivalent), or a representative of the applicant's personal agency/corporation or office.
    • A Certified Public Accountant (CPA) or the equivalent may sign certifying letters for financial planning fees/fees for advice that are paid directly to the producer when applying under the commission or premium method.
    • Brokerage companies are defined as third party wholesalers of insurance and investment products that are provided to agents on behalf of insurance and investment companies. Should an applicant be an official of a brokerage company, the product provider who pays the commissions must sign the certifying letter unless applying under the income qualification method.


COMMISSION
  MDRT COT TOT
Member Type Unlimited Total Unlimited Total Unlimited Total
Production $45,500 $91,000 $45,500 $273,000 $45,500 $546,000
1st-Time Member

Certifying Letters

Signed by


Required


Company


Required


Company


Required


Company
 
2 - 10-Year Member

Certifying Letters

Signed by


Required


Company


Required


Company


Required


Company
 
10+ Year Member

Certifying Letters

Signed by


Not Required


Not Required


Required if less than 10 years COT

Company


Required if less than 10 years TOT

Company


PREMIUM
  MDRT COT TOT
Member Type Unlimited Total Unlimited Total Unlimited Total
Production $91,000 $182,000 $91,000 $546,000 $91,000 $1,092,000
1st-Time Member

Certifying Letters

Signed by


Required


Company


Required


Company


Required


Company
 
2 - 10-Year Member

Certifying Letters

Signed by


Required


Company


Required


Company


Required


Company
 
10+ Year Member

Certifying Letters

Signed by


Not Required


Not Required


Required if less than 10 years COT

Company


Required if less than 10 years TOT

Company


  INCOME
  MDRT COT TOT
Member Type New Bus Unlimited Total New Bus Unlimited Total New Bus Unlimited Total
Production $45,500 $45,500 $156,000 $45,500 $45,500 $468,000 $45,500 $45,500 $936,000
1st-Time Member

Certifying Letters

Signed by


Not Eligible




Not Eligible




Not Eligible


 
2 - 10-Year Member

Certifying Letters

Signed by


Required


Self-signed


Required


Self-signed


Required


Self-signed
 
10+ Year Member

Certifying Letters

Signed by


Not Required


Not Required


Required if less than 10 years COT

Self-signed


Required if less than 10 years TOT

Self-signed

 

Additional information may be obtained from:
Million Dollar Round Table, Membership Department,
325 West Touhy Avenue, Park Ridge, IL 60068-4265 USA
Telephone: +1 (847) 692-6378; Fax: +1 (847) 518-8921;
E-mail: membership@mdrt.org