Membership Information for the 2019 Million Dollar Round Table

Transcription

1 ship Information for the 2019 Million Dollar Round Table Based on 2018 production Million Dollar Round Table 325 West Touhy Avenue, Park Ridge, Illinois USA Phone: Fax:

2 PLEASE NOTE 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 1/4/2018 at the foot of each page. The 2019 membership requirements have been determined. See page 3. The name of the product categories has been modified to Protection Products and Other Products. See page 4. The illustration for Protection Credit has been corrected. See page 9. The MDRT Annual Meeting will take place in June See page 10. The Asia Global Conference will take place in August/September See page 10. The U.S. Top of the Table Income requirement was corrected. See pages 3, 5, 14. Table of Contents Page I. Production Requirements II. Eligibility III. Reporting IV. Additional Requirements V. Clarifications VI. Illustrations VII. Meetings VIII. / Production Requirements By Country IX. Income Production Requirements By Country Apply for 2019 membership online at Page 2 Global 1/4/2018

3 MEMBERSHIP INFORMATION FOR THE 2019 MILLION DOLLAR ROUND TABLE I. PRODUCTION REQUIREMENTS 1. Production Methods ship in the 2019 Round Table will be based on the following production methods: (See page 4 for products) /Fee Method A minimum of USD 96,000 of eligible commissions paid is required. Of this total, a minimum of USD 48,000 of paid commissions (50 percent of the requirement) must come from products listed in the Protection category. Method A minimum of USD 192,000 of eligible paid premium is required. Of this total, a minimum of USD 96,000 of premium (50 percent of the requirement) must come from products listed in the Protection category. Income Qualification Method A minimum of USD 166,000 in annual gross income from the sale of insurance and financial products is required. A minimum of USD 48,000 must be income from new business generated during the production year. Further, a minimum of USD 48,000 must be derived from income associated with products in the Protection category. It is possible that the same business, for example the sale of new life insurance policies, could satisfy both requirements. 3. Top of the Table & Method A minimum of USD 576,000 of eligible commissions paid or USD 1,152,000 of eligible paid premium. At least USD 48,000 of commission or USD 96,000 of premium (50 percent of the entry-level MDRT requirement) must come from products listed in the Protection category before an applicant can use any credit from policies listed under the Other Products category. Income Method A minimum of USD 996,000 of eligible annual gross income is required. The applicant must meet the minimums of USD 48,000 in new business and USD 48,000 in risk-protection business. Top of the Table Waivers Top of the Table members with a minimum of 10 years of Top of the Table membership who do not meet the required minimum production level may apply under the Top of the Table waiver provision, but must submit required Top of the Table dues. 2. Court of the Table & Method A minimum of USD 288,000 of eligible commissions paid or USD 576,000 of eligible paid premium is required. At least USD 48,000 of commission or USD 96,000 of premium (50 percent of the entry-level MDRT requirement) must come from products listed in the Protection category before an applicant can use any credit from policies listed under the Other Products category. Income Method A minimum of USD 498,000 of eligible annual gross income is required. The applicant must meet the minimums of USD 48,000 in new business and USD 48,000 in risk-protection business. 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 2019 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. Page 3 Global 1/4/2018

4 4. Eligible Products and Credit RISK-PROTECTION PRODUCTS Products from life insurance companies /Fee Credit 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 /Fee Credit 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 First-time applicants for MDRT must use either the commission or premium methods to demonstrate qualification for membership. (See chart on page 5.) 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 An individual who is a first-time applicant becomes a Qualifying (Q) member when his/her application papers are approved. Until the 10 th year of membership is attained, the member will be a Qualifying member. Qualifying And Life An individual becomes a Qualifying and Life (QL) member when approved for the 10 th 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, including certifying letter(s) demonstrating qualifying production or by attesting to having met current minimum production levels, and by paying the required dues. Life 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. Page 4 Global 1/4/2018

5 COMMISSION PREMIUM Type Protection MDRT COT TOT MDRT COT TOT Total Protection Total Protection Total Type Protection Total Protection Total Protection Production $48,000 $96,000 $48,000 $288,000 $48,000 $576,000 Production $96,000 $192,000 $96,000 $576,000 $96,000 $1,152,000 1st-Time Required Required Required 1st-Time Required Required Required Signed by Company Company Company Signed by Company Company Company 2-10 Year Required Required Required 2-10 Year Required Required Required Signed by Company Company Company Signed by Company Company Company 11+ Year Not Required Required if less Required if less 11+ Year Total Not Required Required if less Required if less than 10 COT than 10 TOT than 10 COT than 10 TOT Signed by Not Required Company Company Signed by Not Required Company Company Type New Business INCOME MDRT COT TOT Protection Total New Business Protection Total New Business Protection Production $48,000 $48,000 $166,000 $48,000 $48,000 $498,000 $48,000 $48,000 $996,000 1st-Time Not Eligible Not Eligible Not Eligible Signed by 2-10 Year Required Required Required Signed by Self-signed Self-signed Self-signed 11+ Year Not Required Required if less than 10 COT Required if less than 10 TOT Signed by Not Required Self-signed Self-signed Total III. REPORTING 1. Verifying Production And 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 with third party verification for commission or premium or submit a self-signed certifying letter and attach supporting documents for the income qualification method as outlined above. 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 a certifying letter signed by the applicant. All applications submitted under the income method are subject to a random production verification audit at a later date. If selected, the individual will need to supply supporting documents, such as commission statements, that verify the amounts claimed. Other acceptable supporting documents would be a statement of income signed 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/office. Tax documents may also be used. Page 5 Global 1/4/2018

6 Simplified Reporting for Qualifying & Life and Life s 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, including certifying letter(s) demonstrating qualifying production or by attesting to having met current minimum production levels, and by paying the required dues. Proof of production (i.e. certifying 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 declare their eligibility without certifying 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 declare their eligibility without certifying or income documents when applying for the eleventh year of membership at Top of the Table level. 4. Application Forms Applications for 2019 MDRT membership will automatically be sent in November 2018 to all 2018 and 2017 MDRT members. Others may request an application by phone, fax or through the MDRT Web site at 5. Letters A certifying letter signed by an official from the company an applicant is using for MDRT qualification is required when applying under the commission or premium method. Otherwise, the application will be considered incomplete and membership may be denied. 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 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. Income certifying are self-reported, signed by the applicant. If selected for a production verification audit, the individual will need to supply supporting documents to verify the amounts claimed, such as: commission statements a statement of income signed 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/office Tax documents 6. Honor Roll Individuals who have reported at least 15 years of Qualifying membership shall be designated as members of the Honor Roll. IV. ADDITIONAL REQUIREMENTS 1. Professional Association ship Requirement When applying for MDRT membership, applicants from the countries listed below must be members in good standing of an association that meets all of the following criteria: (A list of associations that meet the criteria may be found Web site at ) 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 nonprofit organization. The association must have a code of ethics and an effective means of dealing with breaches of its code. ship in an association is required of applicants from the following countries: Australia Ireland Philippines Bahamas Israel Singapore Canada Jamaica Thailand Greece Japan Trinidad & Tobago Hong Kong Malaysia United States New Zealand 2. Annual ship Dues: USD TBD 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 an additional fee of USD Court of the Table Dues: USD TBD In addition to remitting regular MDRT dues, a Court of the Table applicant must remit the required Court of the Table dues. 4. Top of the Table Dues: USD TBD In addition to remitting regular MDRT membership dues, a Top of the Table applicant must remit the required Top of the Table dues. Top of the Table membership dues includes Court of the Table dues. Page 6 Global 1/4/2018

7 5. Life, Reduced Dues: USD TBD Life members who meet all four 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. a Life or a Qualifying & Life member, and applying as a Life member, and 65 years of age by December 31, 2018 and have either 25 years of membership OR 20 years of membership with production Online payment options are now available. For more information, please refer to your 2019 ship application. 6. Disability Waiver Life members who have been declared totally disabled for six consecutive months during 2018 may petition for a waiver of payment of dues for the 2019 Table. A disability petition form and doctor s statement must be submitted by March 1, 2019, 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. 7. Former Life Options Former Life and Qualifying & Life members who wish to rejoin MDRT have two options: Option One: They may choose not to pay back dues for the years missed and submit the current minimum production and current membership dues with their application. Their member status will revert to Qualifying and they must again fulfill the requirements to attain Life or Qualifying & Life status, which includes accumulating an additional 9 years of Qualifying membership. Option Two: They may retain Life or Qualifying & Life member status by paying back dues for the number of years missed, not to exceed a maximum of five years, and by meeting the then current requirements for Life membership. The maximum number of years for which back dues may be required will be reduced to three years if the member submits qualifying production for the current year. The amount of back dues will be based upon the current dues at the time of reinstatement. Please note: Payment of back dues does not provide credit for member year(s) missed. V. CLARIFICATIONS 1. Eligible s, Fees Production credit (for commissions) will be based on eligible commissions received during Credit may include either earned or advanced (annualized) commissions or both. Advanced (annualized) or earned commissions must be paid to the applicant in 2018 to be eligible for MDRT credit. Please note: s 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 2017 may result in production credit for The policy must be in force on December 31, 2017 but is not required to be in force as of December 31, credit for pensions is based on the product used to fund the pension (life insurance, annuities, mutual funds, etc.) which determines whether it receives Protection or Other Products credit. s 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 Protection category for the commission paid on the amount up to the annual/target premium. If the annual/target premium is exceeded, (sometimes referred to as a top up ) commission credit may be given in the Protection category for the commission paid on the amount that exceeded the annual/target premium. Override commissions, training allowances, bonuses and other sales or expense allowances do not qualify under the commission/premium method. Fees paid for 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. The type of product placed determines the type of credit the product receives ( Protection or Other). Financial Planning Fees/Fees for Advice are eligible for Other Products credit for the net fee paid to the agent/advisor. Fees must be documented by certifying letter signed by a company official, a broker dealer official, or a Certified Public Accountant (or equivalent) for qualifying members. Group health insurance commissions are eligible in the first year of the policy only. Additions to the group policy 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. Short-term endowment riders (max 15 years) to life insurance policies are eligible for 100 percent of first-year commissions in the Protection category. Long-term endowment commissions are only eligible in the first year of the policy. Long-term endowment riders (16 or more years) to life insurance policies are eligible for 100 percent of first-year commissions in the Protection category. For additional information, contact: Million Dollar Round Table Services Department 325 West Touhy Avenue Park Ridge, IL USA Phone: Fax: Web site: membership@mdrt.org Page 7 Global 1/4/2018

8 2. Eligible Production credit (for premium) will be based on eligible premium paid or new money invested during 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 also result in a reduction of that year's premium credit. A policy that becomes effective in 2017 may result in production credit for the amount of premium paid or new money invested during Life insurance policies that exceed the annual premium or target premium are eligible for credit. First year premium credit may be given in the Protection category up to the amount of the annual/target premium. If the annual/target premium is exceeded, (sometimes referred to as a top up ) premium credit may be given in the Protection category for 6 percent of the amount that exceeded the annual/target premium. Financial Planning Fees/Fees for Advice are eligible for Other Products credit for the gross fee paid to the company, broker dealer or individual agent/advisor. Fees must be documented by certifying letter signed by a company official, a broker dealer official, or a Certified Public Accountant (or equivalent) for qualifying members. Group health insurance premium is eligible for credit in the first year of the policy only. Additions to the group policy 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. Short-term endowment riders (max 15 years) to life insurance policies are eligible for 6 percent of first year premium credit. Long-term endowment premium is only eligible in the first year of the policy. Long-term endowment riders (16 or more years) to life insurance policies are eligible for 100 percent of first-year premium credit in the Protection category. credit for pensions is based on the product used to fund the pension (life insurance, annuities, mutual funds, etc.) which determines whether it receives Protection or Other Products credit. 3. Eligible Income Production credit is based on annual gross income paid during Please note: See chart on page 4 for eligible products. Under this model, income is defined as first-year, trail and renewal commissions, as well as fees for product placement, asset management fees and fees for advice. Other production-based compensation, such as salaries and production-based bonuses, are also eligible for credit. Income contributed as part of a deferred compensation plan is eligible for credit. Credit should be taken during the production year when the deferred income was earned. Override commissions are eligible only for personal production. Income considered INELIGIBLE for MDRT credit includes: Training bonuses/allowances Sales/expense allowances Overrides derived from the production of others. Non-cash compensation, such as incentive trips Income from property and casualty insurance and general insurance (fire, home, auto, etc.) Income from the sale of mortgages. Life settlements Money market accounts 4. Credit for Coverage Written on the Applicant, Spouse or Dependents Any business written on the applicant, applicant s spouse or dependents may not exceed a maximum of 5 percent of the current year's MDRT production requirement (USD 4,800 eligible commissions or USD 9,600 of eligible premium or USD 8,300 of eligible income) if any of the premiums are paid, directly or indirectly, by the applicant or spouse. 5. Replacements Credit for individual life insurance policies may be claimed only for the amount of first-year commissions or premium 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. 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. 6. Definitions And Interpretations Business Paid for and Underwritten Business to be credited shall be paid for during the MDRT qualification period (January 1 through December 31). Business shall be considered to have been paid for as of the date when the coverage first became fully effective with home office approval from the standpoint of payment of the claim (regardless of company practice or the distance between home and field office). However, no credit shall be allowed until the home office has finally accepted the premium and also until the first-year commissions have been paid or credited to the agent's account without any right reserved to the insurance company to recover same, except in case of recall under the contestable provisions of the contract. On joint, partnership, corporate and/or brokerage business, MDRT credit shall be given for only that portion of the business on which the applicant has been compensated, either by first-year commission or the equivalent. Health Insurance Includes policies that relate to the health of the body. Dental, vision, etc., are eligible for credit. See page 4 for specifics. Page 8 Global 1/4/2018

9 6. Definitions and Interpretations (Cont d) Policy and Case Definitions A policy shall be defined as an individual contract covering one or more lives as contrasted with a group policy, a pension, profit sharing trust or a salary savings plan. Under a qualified pension or profit sharing trust or a salary savings plan, each individual policy shall count as one (1) policy for the purpose of computing total eligible policies. For purposes of production, an employer-sponsored group life plan, franchise life plan and group annuity plan and mutual fund transaction with one (1) investor shall be considered one (1) case regardless of the number of lives or funds involved. VI. ILLUSTRATIONS In Force Requirement Credited business shall include only business which has not been terminated on or before the last day of the MDRT qualification period (December 31) except for business terminated by death or term conversion. Securities Includes stocks, bonds or other equities. See page 4 for specifics. Clarification of Protection and Other Products Credit At least one-half (50 percent) of the production requirement must come from products listed in the Protection category. (See section I, 4) This serves as a threshold that must be crossed before an applicant can use any credit from the Other Products category. Once crossing the threshold, applicants may use all of the credits from Other Products category to meet the MDRT requirement. The 2019 commission requirement for is USD 96,000. To qualify, the applicant must submit a minimum of USD 48,000 in commission from products listed in the Protection category. Example 1 Eligible for MDRT membership Applicant total Protection 48,000 Applicant total Other Products 100,000 Total MDRT commission credit 148,000 Example 2 NOT eligible for MDRT membership Applicant total Protection 47,999 Applicant total Other Products 100,000 Total MDRT commission credit 47,999 Please note: The 50 percent threshold applies regardless of whether commission or premium is used to qualify for membership. Clarification of Income Qualification A minimum of USD 166,000 in annual gross income from the sale of insurance and financial products is required. A minimum of USD 48,000 must be income from new business generated during the production year. Further, a minimum of USD 48,000 must be derived from income associated with Protection Products. It is possible that the same business, for example the sale of new life insurance policies, could satisfy both requirements. (See Example 2 below.) ELIGIBLE for MDRT membership Example 1 Applicant annual gross income 166,000 Applicant total new business 48,000 Applicant total Protection Products 48,000 Example 2 Applicant annual gross income 166,000 Applicant total new business from Protection Products * 48,000 *Satisfies both new business and risk-protection products minimums. NOT Eligible for MDRT membership Example 3 Applicant annual gross income 166,000 Applicant total new business 47,999 Applicant total Protection Products 48,000 Example 4 Applicant annual gross income 166,000 Applicant total new business 48,000 Applicant total Protection Products 47,999 Page 9 Global 1/4/2018

10 MDRT Meetings - Mark Your Calendars! MDRT Annual Meeting* June 2019 TBA, USA Asia Global Conference* August/September 2019 TBA Top of the Table Annual Meeting* September 2019 Austin, Texas, USA EDGE Meeting* November 2019 TBA, USA *Attendance at the MDRT Annual Meeting, Asia Global Conference, Top of the Table Annual Meeting and EDGE Meeting are open to approved members of the 2019 Table and requires payment of separate registration fees. Visit or contact MDRT at or to meetings@mdrt.org for meeting information or for exhibitor and sponsorship opportunities. Page 10 Global 1/4/2018

11 COMMISSION AND PREMIUM PRODUCTION REQUIREMENTS FOR MEMBERSHIP IN THE 2019 MILLION DOLLAR ROUND TABLE Based on 2018 Production, Expressed in Local Currency Production credit must be reported in U.S. dollars on Letters (Local currency divided by the conversion/standardization factor = MDRT requirement in U.S. dollars) Production requirements are set independently for each country. Conversion/standardization factors have no relationship to currency exchange rates and are used only to standardize MDRT processing. (For a complete list of country requirements, see the MDRT web site at Country MDRT COT TOT Conv Factor MDRT COT TOT Conv Factor Angola 53, , , , , , Anguilla 106, , , , ,000 1,278, Antigua 160, , , , ,600 1,927, Argentina 222, ,600 1,333, ,400 1,333,200 2,666, Armenia 16,500,800 49,502,400 99,004, ,001,600 99,004, ,009, Aruba 121, , , , ,000 1,452, Australia 135, , , , ,600 1,627, Azerbaijan 24,300 72, , , , , Bahamas 80, , , , , , Bahrain 23,000 69, , , , , Bangladesh 2,140,900 6,422,700 12,845, ,281,800 12,845,400 25,690, Barbados 125, , , , ,400 1,504, Belarus 140,059, ,178, ,356,400 1, ,118, ,356,400 1,680,712, Belgium 78, , , , , , Belize 95, , , , ,200 1,142, Bermuda 145, , , , ,000 1,740, Bolivia 240, ,200 1,442, ,800 1,442,400 2,884, Bosnia-Herzegovina 67, , , , , , Botswana 254, ,900 1,525, ,600 1,525,800 3,051, Brazil 181, ,100 1,090, ,100 1,635,300 3,270, British Virgin Islands 96, , , , ,000 1,152, Brunei 59, , , , ,200 1,076, Bulgaria 61, , , , , , Cambodia 74,884, ,654, ,309, ,539, ,618,800 1,797,237, Canada 116, , , , ,200 1,394, Cayman Islands 65, , , , , , Channel Islands 66, , , , , , Chile 31,824,000 95,472, ,944, ,648, ,944, ,888, Colombia 84,255, ,765, ,531, ,510, ,531,800 1,011,063, Costa Rica 26,812,000 80,436, ,872, ,624, ,872, ,744, Croatia 344,200 1,032,600 2,065, ,400 2,065,200 4,130, Curacao 72, , , , , , Cyprus 40, , , , , , Czech Republic 1,259,900 3,779,700 7,559, ,519,800 7,559,400 15,118, Denmark 699,100 2,097,300 4,194, ,398,200 4,194,600 8,389, Dominica 128, , , , ,600 1,537, Dominican Republic 1,284,800 3,854,400 7,708, ,569,600 7,708,800 15,417, Ecuador 44, , , , , , Egypt 138, , , ,300 1,242,900 2,485, El Salvador 46, , , , , , Estonia 50, , , , , , Fiji 76, , , , , , France 78, , , , , , Georgia 68, , , , , , Germany 75, , , , , , Ghana 60, , , , , , Gibraltar 54, , , , , , Greece 57, , , , , , Grenada 170, ,100 1,024, ,400 1,024,200 2,048, Guatemala 340,000 1,020,000 2,040, ,000 2,040,000 4,080, Guyana 8,812,500 26,437,500 52,875, ,625,000 52,875, ,750, Honduras 875,800 2,627,400 5,254, ,751,600 5,254,800 10,509, Hong Kong SAR 528,300 1,584,900 3,169, ,113,200 6,339,600 12,679, Hungary 12,265,800 36,797,400 73,594, ,531,600 73,594, ,189, India 934,400 2,803,200 5,606, ,737,600 11,212,800 22,425, Indonesia 276,280, ,841,500 1,657,683,000 2, ,561,000 1,657,683,000 3,315,366, Ireland 79, , , , , , Isle of Man 66, , , , , , Israel 340,500 1,021,500 2,043, ,000 2,043,000 4,086, Italy 71, , , , , , Page 11 Global 1/4/2018

12 Country MDRT COT TOT Conv Factor MDRT COT TOT Conv Factor Jamaica West Indies 4,170,300 12,510,900 25,021, ,340,600 25,021,800 50,043, Japan 10,880,000 32,640,000 65,280, ,640,000 97,920, ,840, Jordan 23,200 69, , , , , Kazakhstan 5,097,900 15,293,700 30,587, ,195,800 30,587,400 61,174, Kenya 3,119,200 9,357,600 18,715, ,238,400 18,715,200 37,430, Kuwait 24,800 74, , , , , Latvia 34, , , , , , Lebanon 112,330, ,991, ,983,600 1, ,661, ,983,600 1,347,967, Lithuania 116, , , , ,600 1,393, Luxembourg 85, , , , ,600 1,027, Macau 386,900 1,160,700 2,321, ,547,600 4,642,800 9,285, Macedonia 1,760,100 5,280,300 10,560, ,520,200 10,560,600 21,121, Malaysia 145, , , ,200 1,308,600 2,617, Malta 25,300 75, , , , , Mauritius 1,464,600 4,393,800 8,787, ,929,200 8,787,600 17,575, Mexico 713,800 2,141,400 4,282, ,427,600 4,282,800 8,565, Montenegro 5,900 17,700 35, ,800 35,400 70, Montserrat 74, , , , , , Mozambique 1,475,800 4,427,400 8,854, ,951,600 8,854,800 17,709, Namibia 431,400 1,294,200 2,588, ,800 2,588,400 5,176, Nepal 1,342,500 4,027,500 8,055, ,027,500 12,082,500 24,165, Netherlands 78, , , , , , New Zealand 140, , , , ,800 1,683, Nicaragua 948,800 2,846,400 5,692, ,897,600 5,692,800 11,385, Nigeria 5,660,300 16,980,900 33,961, ,320,600 33,961,800 67,923, Norway 838,700 2,516,100 5,032, ,677,400 5,032,200 10,064, Oman 16,600 49,800 99, ,200 99, , P.R. China 201, ,700 1,211, ,700 1,817,100 3,634, Pakistan 1,676,700 5,030,100 10,060, ,353,400 10,060,200 20,120, Panama 49, , , , , , Peru 138, , , , ,600 1,657, Philippines 1,301,800 3,905,400 7,810, ,603,600 7,810,800 15,621, Poland 172, ,900 1,033, ,600 1,033,800 2,067, Portugal 58, , , , ,900 1,045, Qatar 206, ,300 1,236, ,200 1,236,600 2,473, Republic of Korea 75,274, ,822, ,644, ,185, ,555,000 1,129,110, Romania 137, , , , ,600 1,651, Russia 1,263,700 3,791,100 7,582, ,159,302 9,477,905 18,955, Saudi Arabia 240, ,200 1,442, ,800 1,442,400 2,884, Serbia 2,986,400 8,959,200 17,918, ,972,800 17,918,400 35,836, Singapore 115, , , ,400 1,042,200 2,084, Slovakia 50, , , , , , Slovenia 64, , , , , , South Africa 286, ,800 1,719, ,200 1,719,600 3,439, Spain 66, , , , , , Sri Lanka 2,655,200 7,965,600 15,931, ,310,400 15,931,200 31,862, St Kitts and Nevis 165, , , , ,400 1,984, St Lucia 171, ,000 1,026, ,000 1,026,000 2,052, St Maarten 72, , , , , , St Vincent 158, , , , ,000 1,902, Suriname 17,054,300 51,162, ,325, ,108, ,325, ,651, Sweden 877,700 2,633,100 5,266, ,755,400 5,266,200 10,532, Switzerland 123, , , , ,000 1,482, Taiwan R.O.C. 1,739,900 5,219,700 10,439, ,479,800 10,439,400 20,878, Thailand 1,114,300 3,342,900 6,685, ,228,600 6,685,800 13,371, Tonga 127, , , , ,800 1,533, Trinidad & Tobago 379,600 1,138,800 2,277, ,200 2,277,600 4,555, Turkey 77, , , , , , Turks & Caicos 105, , , , ,600 1,267, UK 60, , , , , , Ukraine 220, ,300 1,320, ,200 1,320,600 2,641, United Arab Emirates 282, ,100 1,696, ,400 1,696,200 3,392, United States 96, , , , ,000 1,152, Uruguay 1,205,900 3,617,700 7,235, ,411,800 7,235,400 14,470, Venezuela 109,726, ,179, ,359,600 1, ,453, ,359,600 1,316,719, Vietnam 339,234,600 1,017,703,800 2,035,407,600 3, ,469,200 2,035,407,600 4,070,815, Zambia 224, ,100 1,348, ,400 1,348,200 2,696, Zimbabwe 1,374,700 4,124,100 8,248, ,749,400 8,248,200 16,496, Page 12 Global 1/4/2018

13 INCOME PRODUCTION REQUIREMENTS FOR MEMBERSHIP IN THE 2019 MILLION DOLLAR ROUND TABLE Based on 2018 Production, Expressed in Local Currency Production credit must be reported in U.S. dollars on certifying Production requirements are set independently for each country. Conversion (Conv) factors have no relationship to currency exchange rates and are used only to standardize MDRT processing. (Local currency divided by the income conversion = U.S.MDRT requirement) Qualification under this method is based on a requirement of USD 166,000 in annual gross income from insurance and financial products. A minimum of USD 48,000 must be income from new business generated during the production year. Further, a minimum of USD 48,000 must be derived from income associated with Protection Products. (For a complete list of country requirements, see the MDRT website at Country MDRT Income COT Income TOT Income Income Conv Factor Angola 92, , , Anguilla 184, ,600 1,105, Antigua 277, ,400 1,666, Argentina 384,400 1,153,200 2,306, Armenia 28,546,400 85,639, ,278, Aruba 209, ,900 1,255, Australia 234, ,800 1,407, Azerbaijan 42, , , Bahamas 138, , , Bahrain 39, , , Bangladesh 3,703,800 11,111,400 22,222, Barbados 216, ,700 1,301, Belarus 242,302, ,908,400 1,453,816, Belgium 136, , , Belize 164, , , Bermuda 250, ,700 1,505, Bolivia 415,900 1,247,700 2,495, Bosnia-Herzegovina 116, , , Botswana 439,900 1,319,700 2,639, Brazil 314, ,900 1,885, British Virgin Islands 166, , , Brunei 103, , , Bulgaria 105, , , Cambodia 129,550, ,652, ,305, Canada 201, ,000 1,206, Cayman Islands 113, , , Channel Islands 115, , , Chile 55,055, ,166, ,333, Colombia 145,761, ,285, ,570, Costa Rica 46,384, ,154, ,308, Croatia 595,500 1,786,500 3,573, Curacao 125, , , Cyprus 69, , , Czech Republic 2,179,600 6,538,800 13,077, Denmark 1,208,900 3,626,700 7,253, Dominica 221, ,800 1,329, Dominican Republic 2,222,700 6,668,100 13,336, Ecuador 77, , , Egypt 238, ,700 1,433, El Salvador 80, , , Estonia 87, , , Fiji 131, , , France 136, , , Georgia 119, , , Germany 130, , , Ghana 104, , , Gibraltar 95, , , Greece 99, , , Grenada 295, ,900 1,771, Guatemala 588,200 1,764,600 3,529, Guyana 15,245,600 45,736,800 91,473, Honduras 1,515,100 4,545,300 9,090, Hong Kong SAR 914,000 2,742,000 5,484, Hungary 21,219,800 63,659, ,318, India 1,616,500 4,849,500 9,699, Indonesia 477,965,300 1,433,895,900 2,867,791, Ireland 138, , , Isle of Man 115, , , Israel 589,100 1,767,300 3,534, Italy 123, , , Jamaica West Indies 7,214,600 21,643,800 43,287, Japan 18,822,400 56,467, ,934, Page 13 Global 1/4/2018

14 Country MDRT Income COT Income TOT Income Income Conv Factor Jordan 40, , , Kazakhstan 8,819,400 26,458,200 52,916, Kenya 5,396,200 16,188,600 32,377, Kuwait 42, , , Latvia 59, , , Lebanon 194,331, ,995,700 1,165,991, Lithuania 200, ,700 1,205, Luxembourg 148, , , Macau 669,300 2,007,900 4,015, Macedonia 3,045,000 9,135,000 18,270, Malaysia 251, ,500 1,509, Malta 43, , , Mauritius 2,533,800 7,601,400 15,202, Mexico 1,234,900 3,704,700 7,409, Montenegro 10,200 30,600 61, Montserrat 128, , , Mozambique 2,553,100 7,659,300 15,318, Namibia 746,300 2,238,900 4,477, Nepal 2,322,500 6,967,500 13,935, Netherlands 136, , , New Zealand 242, ,100 1,456, Nicaragua 1,641,400 4,924,200 9,848, Nigeria 9,792,300 29,376,900 58,753, Norway 1,451,000 4,353,000 8,706, Oman 28,700 86, , P.R. China 349,300 1,047,900 2,095, Pakistan 2,900,700 8,702,100 17,404, Panama 85, , , Peru 238, ,700 1,433, Philippines 2,252,100 6,756,300 13,512, Poland 298, ,300 1,788, Portugal 100, , , Qatar 356,600 1,069,800 2,139, Republic of Korea 130,224, ,672, ,344, Romania 238, ,000 1,428, Russia 2,186,200 6,558,600 13,117, Saudi Arabia 415,900 1,247,700 2,495, Serbia 5,166,500 15,499,500 30,999, Singapore 200, ,900 1,201, Slovakia 87, , , Slovenia 111, , , South Africa 495,800 1,487,400 2,974, Spain 114, , , Sri Lanka 4,593,500 13,780,500 27,561, St Kitts and Nevis 286, ,300 1,716, St Lucia 295, ,400 1,774, St Maarten 125, , , St Vincent 274, ,600 1,645, Suriname 29,503,900 88,511, ,023, Sweden 1,518,400 4,555,200 9,110, Switzerland 213, ,100 1,282, Taiwan R.O.C. 3,010,000 9,030,000 18,060, Thailand 1,927,700 5,783,100 11,566, Tonga 221, ,300 1,326, Trinidad & Tobago 656,700 1,970,100 3,940, Turkey 134, , , Turks & Caicos 182, ,100 1,096, UK 105, , , Ukraine 380,800 1,142,400 2,284, United Arab Emirates 489,100 1,467,300 2,934, United States 166, , , Uruguay 2,086,200 6,258,600 12,517, Venezuela 189,827, ,481,000 1,138,962, Vietnam 586,875,900 1,760,627,700 3,521,255, Zambia 388,700 1,166,100 2,332, Zimbabwe 2,378,200 7,134,600 14,269, Page 14 Global 1/4/2018