Trip Qualification Period
The qualification period for the 2023 Legend Conference Trip includes net issued business (Production Credit) produced during a twelve-month period from January 1, 2022, through December 31, 2022. An additional seven days will be given at the beginning of January 2023 to tighten up loose ends from the end of the year. Net new member counts are calculated during this same qualification period. District managers, career agents and independent agents are all eligible for the Conference Trip.
Contract Status
All qualifiers must be licensed and in good standing with BetterLife at the time of the Conference to receive any awards. The Legend Conference Trip is not exchangeable for cash or other reimbursement.
Issued Business
Issued business includes all business issued during the qualifying period minus chargebacks. Eligible annuity business includes deposits into a newly issued annuity, originally written by that same agent, in its first policy year. Deposits made into an in force annuity after its first policy anniversary are not credited for Conference Trips. Annuity rollovers must be received in the Home Office and applied to the policy by the end of the qualification date to be credited. Production credits include credits on annual first year premiums of traditional, universal life, and term life policies as well as first year annuity credits. No renewal or excess Universal Life premiums will count for qualification levels. Any chargebacks of first year credits will be subtracted from business issued. Annuity production credit will count as earned and credited to the agent's account. Only business issued by BetterLife will count for any trips. For business credited to an agent, but paid to a different agent, only the credited agent will receive production credits for any qualification levels.
New Members
A new member is a person who was not previously insured under a BetterLife (including Western Fraternal Life or National Mutual Benefit) individual or joint policy within the last 36 months. Both insureds on a Universal Life Joint application count as new members, if they both qualify according to the above definition. Individuals who were only covered under riders within the prior 36 months do count as new members when purchasing a new individual or joint policy in which they are a primary insured.
Cash Bonus
A cash bonus is available for Conference Trip qualifiers. A $250 cash award is rewarded to those who produce at the Legend Level for personal travel expenses. If an agent qualifies for the trip with $70,000 or more in production credit, they will receive a $500 cash bonus. Take note that this cash bonus does not count towards trip credit, but is strictly cash only. The Fast Start Programs are NOT eligible for cash bonuses. Please review the section on Expense Receipts related to this bonus.
Multiple Trips
Representatives qualifying for more than one trip promotion will receive both the Conference Trip and the Fast Start Trip. In addition, MDRT qualifiers will earn the Legend Conference Trip as well as the MDRT Annual Conference Trip (and possibly the Fast Start Trip as well).
Trip Credit
Agents earn an additional $100 trip credit for each new member issued above 25 members. This additional credit is used ONLY towards qualifications for the Legend Conference Trip. Agent quarterly bonuses are NOT used for trip qualification.
Taxation
Trips and cash payments representing bonuses are taxable as ordinary income. This will be reported on your tax form at year-end.
Expense Receipts
Any travel or food expenses that are not provided by BetterLife or in the trip package, are the responsibility of the qualifier. This includes costs related to airport transfers or automobile and travel expenses if driving to a Conference Trip from the qualifier's home. Souvenirs and gifts are NOT eligible expenses. At the conclusion of a trip, costs related to transportation home from the trip are likewise the responsibility of the qualifier. The qualifier has the responsibility of submitting eligible expenses to the Accounting Department at the Home Office to offset a portion of the travel allowance (if applicable) by July 1, 2023. The excess over approved eligible expenses will be subject to income taxes.
Guests
Agents can invite one guest to the Conference Trip with airfare costs covered.
Career Agent Fast Start Program
The qualification period for the Fast Start Program includes net submitted business (Production Credit) produced during the first quarter of 2022. The Fast Start Program is designed to increase the opportunity for career agents to earn Conference Trip. Career agents are eligible for this program, but must be licensed and in good standing with BetterLife at the time of the trip to receive any awards.
New Agents
New agents will NOT be prorated for the Legend Conference Trip. However, new CAREER agents hired between 12/15/21 - 1/31/22 are able to earn an enhanced written business incentive via the Career's Fast Start Program.
Final Authority
The Home Office Rules Committee reserves the right to interpret the rules of these Conference Trips, which are incentive trips and not a contractual right, and reserves the right to make final decisions regarding any qualifier.
Questions?
Email us at [email protected] for assistance.
