2020 Membership Info - Global (8!5!2019)
2020 Membership Info - Global (8!5!2019)
2020 Membership Info - Global (8!5!2019)
for the
2020 Million Dollar Round Table
Based on 2019 production
Please note the following changes to previous versions of this document. Please
discard any copies of this document that do not have the mark of “Global – 8/5/2019”
at the foot of each page.
Table of Contents
Page
I. Production Requirements ------------------------------------------------------------------- 3
II. Eligibility ------------------------------------------------------------------------------------------ 4
III. Reporting ----------------------------------------------------------------------------------------- 5
IV. Additional Requirements -------------------------------------------------------------------- 6
V. Clarifications ------------------------------------------------------------------------------------- 7
VI. Illustrations -------------------------------------------------------------------------------------- 9
VII. Meetings ----------------------------------------------------------------------------------------- 10
VIII. Commission/Premium Production Requirements By Country ------------------ 11
IX. Income Production Requirements By Country --------------------------------------- 14
Please note: Applicants may not combine production credit from the methods above to attain the minimum
requirement. Applicants will be approved only under one method.
The 2020 production requirements for applicants outside the United States are expressed in local
currency. All commission, premium or income credit reported must be converted to U.S. dollars using
the MDRT conversion factor listed at the end of this document.
RISK-PROTECTION PRODUCTS
Products from life insurance companies Commission/Fee Credit Premium Credit
Accidental death and dismemberment (individual) 100% of first year commission 100% of first year premium
Critical illness (individual) 100% of first year commission 100% of first year premium
Disability income contracts (individual) 100% of first year commission 100% of first year premium
Life (individual)
Up to annual premium/target premium 100% of first year commission 100% of first year premium
Deposits in excess of annual/target 100% of commission paid 6% of excess premium
premium/top up
Single premium (whole life and investment) 100% of first year commission 6% of first year premium
Short-term endowment rider (max 15 yrs) 100% of first year commission 6% of first year premium
Long-term care (individual) 100% of first year commission 100% of first year premium
Accidental death and dismemberment (group) 100% of first year commission 10% of first year premium
Critical illness (group) 100% of first year commission 10% of first year premium
Disability income contracts (group) 100% of first year commission 10% of first year premium
Life (group) 100% of first year commission 10% of first year premium
Long-term care (group) 100% of first year commission 10% of first year premium
Annuities (individual and group) 100% of all commissions 6% of new money invested
Single premium and/or short-term endowment (max 100% of first year commission 6% of first year premium
15 yrs.)
OTHER PRODUCTS
Products Commission/Fee Credit Premium Credit
Health care (individual) 100% of first year commission 100% of first year premium
Health care (group) 100% of first year commission 10% of first year premium
Mutual funds 100% of all commissions/fee 6% of new money invested
Securities 100% of commission/fee on new 6% of new money invested
money invested
Wrap accounts/asset management accounts 100% of all commissions/fee 6% of new money invested
Financial Planning Fees/Fees for Advice 100% of the net fee 100% of the gross fee
II. ELIGIBILITY
1. Qualification Overview Qualifying And Life Member
First-time applicants for MDRT must use either the An individual becomes a Qualifying and Life (QL) member
commission or premium methods to demonstrate when approved for the 10th year of membership. The year or
qualification for membership. (See chart on page 5.) years during which Provisional Applicant status was/were held
Any individual with prior MDRT membership is eligible to are counted. Qualifying and Life status is maintained in future
apply using the income qualification method. years by submitting an application each year, including
certifying letter(s) demonstrating qualifying production or by
2. MDRT Status Designations attesting to having met current minimum production levels,
Each MDRT status designation is granted for one year only. All and by paying the required dues.
members must apply every year to continue their affiliation with Life Member
MDRT. After Qualifying and Life membership has been attained,
Qualifying Member Applicants for Life status will declare that they did not meet
An individual who is a first-time applicant becomes a the production requirement, but still wish to continue their
Qualifying (Q) member when his/her application papers are MDRT membership. Life members must annually submit an
approved. Until the 10th year of membership is attained, the application and pay dues.
member will be a Qualifying member.
2 - 10 Year 2 - 10 Year
Member Member
Certifying Certifying
Required Required Required Required Required Required
letters letters
Signed by Company Company Company Signed by Company Company Company
11+ Year 11+ Year
Member Member
Certifying Certifying
Not Required Required if less Required if less Not Required Required if less Required if less
letters letters
than 10 COT than 10 TOT than 10 COT than 10 TOT
Signed by Not Required Company Company Signed by Not Required Company Company
INCOME
MDRT COT TOT
Member Risk- Risk- Risk-
Type New Business Protection Total New Business Protection Total New Business Protection Total
Production $48,500 $48,500 $168,000 $48,500 $48,500 $504,000 $48,500 $48,500 $1,008,000
1st-Time
Member
Certifying
Not Eligible Not Eligible Not Eligible
letters
Signed by
2 - 10 Year
Member
Certifying
Required Required Required
letters
Signed by Self-signed Self-signed Self-signed
11+ Year
Member
Certifying
Not Required Required if less than 10 COT Required if less than 10 TOT
letters
Signed by Not Required Self-signed Self-signed
III. REPORTING
1. Verifying Production Income Verification
Commission And Premium Verification Verification of eligible production under the income
First-time applicants must apply using ONLY the qualification method will be accomplished via a certifying
commission or premium methods and supply a certifying letter signed by the applicant. All applications submitted
letter(s) with third party verification. Those applying for under the income method are subject to a random
Qualifying membership (years two through 10) may submit production verification audit at a later date. If selected, the
the customary certifying letters with third party verification individual will need to supply supporting documents, such
for commission or premium or submit a self-signed certifying as commission statements, that verify the amounts claimed.
letter and attach supporting documents for the income Other acceptable supporting documents would be a
qualification method as outlined above. Certifying letters statement of income signed by a representative of the
may be completed by a representative of the company/broker company/broker dealer/brokerage agency, a Certified Public
dealer/brokerage agency, a Certified Public Accountant (or Accountant (or equivalent), or a representative of the
equivalent), or a representative of the applicant's personal applicant’s personal agency/corporation/office. Tax
agency/corporation or office. documents may also be used.
V. CLARIFICATIONS
1. Eligible Commissions, Fees
Production credit (for commissions) will be based on eligible
For additional information, contact:
commissions received during 2018. Credit may include either
Million Dollar Round Table
earned or advanced (annualized) commissions or both. Advanced
Member Services Department
(annualized) or earned commissions must be paid to the applicant
325 West Touhy Avenue
in 2019 to be eligible for MDRT credit. Please note:
Park Ridge, IL 60068 USA
Commissions paid on a levelized basis may be reported using
Phone: +1 847.692.6378
the present value of up to the first five years' commission
Fax: +1 847.518.8921
discounted at 10 percent per year, not to exceed 55 percent of
first-year premium. Web site: https://www.mdrt.org
E-mail: memberrelations@mdrt.org
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
VI. ILLUSTRATIONS
Country MDRT Income COT Income TOT Income Income Conv Factor
Angola 95,300 285,900 571,800 0.5672
Anguilla 192,300 576,900 1,153,800 1.1446
Antigua 290,100 870,300 1,740,600 1.7267
Argentina 597,000 1,791,000 3,582,000 3.5535
Armenia 29,801,300 89,403,900 178,807,800 177.3886
Aruba 218,600 655,800 1,311,600 1.3011
Australia 244,900 734,700 1,469,400 1.4577
Azerbaijan 43,800 131,400 262,800 0.2607
Bahamas 144,800 434,400 868,800 0.8619
Bahrain 38,200 114,600 229,200 0.2273
Bangladesh 3,866,600 11,599,800 23,199,600 23.0154
Barbados 226,600 679,800 1,359,600 1.3488
Belarus 252,954,500 758,863,500 1,517,727,000 1505.6815
Belgium 136,300 408,900 817,800 0.8113
Belize 171,900 515,700 1,031,400 1.0232
Bermuda 261,800 785,400 1,570,800 1.5583
Bolivia 434,100 1,302,300 2,604,600 2.5839
Bosnia-Herzegovina 121,900 365,700 731,400 0.7255
Botswana 491,100 1,473,300 2,946,600 2.9232
Brazil 328,200 984,600 1,969,200 1.9535
British Virgin Islands 169,400 508,200 1,016,400 1.0083
Brunei 99,200 297,600 595,200 0.5904
Bulgaria 110,100 330,300 660,600 0.6553
Cambodia 137,687,600 413,062,800 826,125,600 819.569
Cameroon 38,215,400 114,646,200 229,292,400 227.472
Canada 209,900 629,700 1,259,400 1.2494
Cayman Islands 118,300 354,900 709,800 0.7041
Channel Islands 120,200 360,600 721,200 0.7154
Chile 57,475,700 172,427,100 344,854,200 342.1172
Colombia 157,357,800 472,073,400 944,146,800 936.6535
Costa Rica 50,165,100 150,495,300 300,990,600 298.6017
Cote d’Ivoire 41,260,700 123,782,100 247,564,200 245.599
Croatia 593,000 1,779,000 3,558,000 3.5297
Curacao 130,900 392,700 785,400 0.7791
Cyprus 72,900 218,700 437,400 0.4339
Czech Republic 2,180,400 6,541,200 13,082,400 12.9785
Denmark 1,262,600 3,787,800 7,575,600 7.5154
Dominica 231,400 694,200 1,388,400 1.3773
Dominican Republic 2,320,500 6,961,500 13,923,000 13.8125
Ecuador 81,000 243,000 486,000 0.4821
Egypt 278,200 834,600 1,669,200 1.6559
El Salvador 82,100 246,300 492,600 0.4886
Estonia 90,900 272,700 545,400 0.541
Fiji 137,400 412,200 824,400 0.8178
France 135,800 407,400 814,800 0.8083
Georgia 124,100 372,300 744,600 0.7386
Germany 135,900 407,700 815,400 0.8089
Ghana 125,700 377,100 754,200 0.7482
Gibraltar 90,700 272,100 544,200 0.5398
Greece 101,600 304,800 609,600 0.6047
Grenada 308,300 924,900 1,849,800 1.8351
Guatemala 614,000 1,842,000 3,684,000 3.6547
Guyana 15,915,900 47,747,700 95,495,400 94.7375
Honduras 1,581,800 4,745,400 9,490,800 9.4154
Hong Kong SAR 954,100 2,862,300 5,724,600 5.6791
Hungary 22,152,600 66,457,800 132,915,600 131.8607
India 1,730,000 5,190,000 10,380,000 10.2976
Indonesia 505,250,200 1,515,750,600 3,031,501,200 3007.4416
Ireland 137,800 413,400 826,800 0.8202
Isle of Man 120,200 360,600 721,200 0.7154
Israel 615,100 1,845,300 3,690,600 3.6613