2008 Membership Requirements

Purchasing Power Parity Explained

2009 Membership Requirements
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2008 Membership Requirements
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2007 Membership Requirements
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1. PRODUCTION REQUIREMENT
Membership in the 2008 Round Table will be based on a minimum of USD 81,800 of eligible commissions paid or USD 163,600 paid premium credited to the writing agent's account. A minimum of 50 percent of the 2008 production requirement (USD 40,900 commissions or USD 81,800 premium) must come from policies listed under Unlimited Credit. Additional commission or premium credit may come from Limited Credit. See Item 4.

The 2008 production requirement for applicants outside the United States is expressed in local currency. All commission and premium credit must be converted to U.S. dollars using the MDRT conversion factor when applying for membership. Links to country production requirements and conversion factors can be found later in this document.

Please note: Applicants must choose to apply using only commission/fee credit or only premium credit. Only one form of credit will be accepted.

2. ELIGIBLE COMMISSIONS, FEES
Production credit for commissions will be based on eligible commissions received during 2007. They may include either earned or advanced (annualized) commissions or both. Advanced (annualized) or earned commissions must be paid to the applicant in 2007 to be eligible for MDRT credit. Please note:

Commissions paid on a levelized basis may be reported using the present value of up to the first five years' commission discounted at 10 percent per year, not to exceed 55 percent of first-year premium.
Annualized commissions may be reported for credit if paid, but any chargeback of annualized commissions in a subsequent production year will result in a reduction of that year's production credit.
If commissions are paid as earned, a policy effective in 2006 may result in production credit for 2007. The policy must be in force on December 31, 2006, but is not required to be in force as of December 31, 2007.
Commission credit for pensions is based on the product used to fund the pension (life insurance, annuities, mutual funds, etc.) which determines whether it receives Unlimited Credit or Limited Credit.
Commissions that are part of a deferred compensation program may be claimed up front for MDRT credit, provided that they are not claimed again in later years.
Life insurance policies that exceed the annual premium or target premium are eligible for credit. First year commission credit may be given in the Unlimited Credit category for the commission paid on the amount up to the annual/target premium. If the annual/target premium is exceeded, commission credit may be given in the Unlimited Credit category for the commission paid on the amount that exceeded the annual/target premium.
Overriding commissions, training allowances, bonuses and other sales or expense allowances do not qualify.
Fees paid on the placement of a product are eligible for credit toward the commission requirement, as are asset management fees for mutual funds and wrap/asset management accounts. To be eligible, the fee must be paid by a company (See Item 11). Maintenance, service and other fees do not qualify. The type of product placed determines the type of credit the product receives (Unlimited or Limited).
Financial Planning Fees/Fees for Advice are eligible for Limited Credit. Fees must be documented by certifying letter signed by a company official, a broker dealer official, or a Certified Public Accountant (or equivalent).
Group health insurance commissions are eligible in the first year of the policy only. Additions to the group in subsequent years are not eligible for credit.
Single premium and/or short-term endowment commissions are only eligible in the first year of the policy. The maximum term of the endowment policy is 15 years.

3. ELIGIBLE PREMIUM
Production credit will be based on eligible premium paid or new money invested during 2007. Please note:

If commissions are paid as earned, premium credit should be given only for the amount of premium actually received during the production year.
If commissions are annualized, the premium credit should also be annualized. Any chargeback of annualized commissions should result in a reduction of that year's premium credit also.
A policy that becomes effective in 2006 may result in production credit for the amount of premium paid or new money invested during 2007.
Life insurance policies that exceed the annual premium or target premium are eligible for credit. Premium credit may be given in the Unlimited Credit category up to the amount of the annual/target premium. If the annual/target premium is exceeded, credit may be given in the Unlimited Credit category for 6 percent of the amount that exceeded the annual/target premium.
Group health insurance premium is eligible for credit in the first year of the policy only. Additions to the group in subsequent years are not eligible for credit.
Single premium and/or short-term endowment premium is only eligible in the first year of the policy. The maximum term of the endowment policy is 15 years. Short-term endowment riders (max 15 years) to life insurance policies are eligible for 6 percent of first year premium credit.
Premium credit for pensions is based on the product used to fund the pension (life insurance, annuities, mutual funds, etc.) which determines whether it receives Unlimited Credit or Limited Credit.

4. PRODUCTION CREDIT (Unlimited and Limited Credit)
Click here for 2008 production requirements

5. COURT OF THE TABLE
The production requirement to qualify for the 2008 Court of the Table is USD 245,400 of eligible commissions or USD 490,800 of eligible paid premium. A minimum of 50 percent (USD 122,700 commissions or USD 245,400 premium) must come from policies listed under Unlimited Credit. (See Item 4.) All rules and regulations concerning MDRT members apply to the Court of the Table. The Court of the Table requirement is based on three times the MDRT production requirement. The requirement for applicants outside the United States can be found later in this document.

6. TOP OF THE TABLE
The production requirement to qualify for the 2008 Top of the Table is USD 490,800 of eligible commissions or USD 981,600 of eligible paid premium. A minimum of 50 percent (USD 245,400 commissions or USD 490,800 premium) must come from policies listed under Unlimited Credit. (See Item 4.) All rules and regulations concerning MDRT members apply to the Top of the Table. The requirement for applicants outside the United States can be found later in this document.

7. CREDIT FOR COVERAGE WRITTEN ON THE APPLICANT, SPOUSE OR DEPENDENTS
A maximum of 5 percent of the current year's production requirement may come from production written on the applicant, applicant's spouse or dependents. The amount credited may not exceed USD 4,090 of eligible commissions or USD 8,180 of eligible premium.

8. REPLACEMENTS
Credit for individual life insurance policies may be claimed only for the amount of first-year commissions on the new policy that exceeds the first-year commissions or premium for the policy being replaced. If the amount is not known, then the amount of commissions being replaced shall be calculated by multiplying the current commission times the appropriate premium for the policy being replaced. Premium credit can be determined by subtracting the replaced premium from the new premium.

Conversion of a permanent product to a permanent product is to be treated as a replacement for MDRT purposes. This applies only to replacement of individual life insurance policies.

9. PROFESSIONAL ASSOCIATION MEMBERSHIP REQUIREMENT
When making application for MDRT membership, applications from the countries below must be members in good standing of a professional association that meets all of the following criteria:

The association must be an individual membership organization, open to participation without regard to company affiliation, one of the focuses of which is insurance or financial services.
The association must have been in existence at least two years and must have 100 or more members.
The association must be a non-profit organization.
The association must have a code of ethics and an effective means of dealing with breaches of its code.

The countries where membership in a professional association is required are:

Australia	Israel	Singapore
Bahamas	Jamaica	South Africa
Canada	Japan	Thailand
Greece	Malaysia	Trinidad & Tobago
Hong Kong	New Zealand	United Kingdom
Ireland	Philippines	United States

10. APPLICATION FORMS
Applications for 2008 MDRT membership will automatically be sent in November 2007 to 2006 and 2007 members. Others may request an application by phone, fax or through the this website.

11. CERTIFYING LETTERS
An application for Qualifying or Qualifying and Life 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. These companies may include life insurance companies, agencies, brokerage companies, broker/dealers banks or mutual fund companies. Click here to obtain 2008 Certifying Letters.

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.

For applicants outside of the United States, commissions reported on the certifying letter must be converted to U.S. dollars.

2008 MDRT commission requirements with conversion factors

2008 MDRT premium requirements with converson factors

12. ANNUAL MEMBERSHIP DUES: USD 450
Required dues, completed application and other required forms must be postmarked on or before March 1. Applications postmarked after March 1 will be considered only if accompanied by a late fee of USD 200.

13. COURT OF THE TABLE DUES: USD 50
In addition to remitting regular MDRT dues, a Court of the Table applicant also needs to remit the required Court of the Table dues.

14. TOP OF THE TABLE DUES: USD 550
In addition to remitting regular MDRT membership dues, a Top of the Table applicant also needs to remit the required Top of the Table dues. Top of the Table membership dues includes Court of the Table membership.

15. LIFE, REDUCED DUES: USD 150
Life members who meet all three of the criteria below are eligible to pay a reduced dues amount. Those eligible for reduced dues are not required to be members of a professional association.

Applicant reached age 65 on or before December 31, 2007.
Applicant is not submitting production.
Applicant has at least 20 years of membership with production or a total of 25 years of membership.

16. DISABILITY WAIVER
Life members who have been declared totally disabled for six consecutive months during 2007 may petition for a waiver of payment of dues for the 2008 Table. A disability petition form and doctor's statement must be submitted by March 1, 2008, with the membership application. Each petition will be judged on its own merit. Those approved for the disability waiver are not required to be members of a professional association.

17. MDRT ANNUAL MEETING

MDRT Annual Meetings

2008 — June 22 to 26, Toronto, Ontario, Canada

2009 — June 7 to 11, Indianapolis, Indiana, USA

Attendance at the 2008 MDRT Annual Meeting is open to approved members of the 2008 Million Dollar Round Table and requires payment of separate registration fees.

18. TOP OF THE TABLE ANNUAL MEETING
Top of the Table Annual Meeting

2008 — October 22 to 25, Austin, Texas, USA

Attendance at the 2008 Top of the Table Annual Meeting is open to approved members of the 2008 Top of the Table and requires payment of separate registration fees.

19. MDRT Experience

2008 — April 11 to 13, Chiba, Japan

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