The qualification period for the 2020 Conference Trips includes net issued business produced during a twelve-month period from January 1, 2019, through December 31, 2019. An additional seven days will be given at the beginning of January 2020 to tighten up loose ends from the end of the year. Net applications and net new member count are calculated during this same qualification period.
All qualifiers must be licensed and in good standing with NMB at the time of the Conferences to receive any awards. A qualified representative who cannot attend a Conference Trip may be paid a cash reward, provided that their absence has been approved in writing by the Home Office Rules Committee. In addition, the cash reward amount will be determined and will be reported on your tax form at year-end.
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. Annualized net first year commission levels include first year commissions only on Life policies. No renewal or excess Universal Life commissions will count for qualification levels. Any chargebacks of first year commissions will be subtracted from business issued. Annuity commission will count as earned and credited to the agent's account. No Corporate Agency (NMB Brokerage) commissions will count for any trips. For independent representatives, please note that all qualifications for trip levels are established on base level net annualized commissions, not actual earned commissions.
Dual Benefit Universal Life applications count as two applications. Increases in base coverage of $10,000 or more (credited to the agent) count as an application. Regarding new member applications, a new member is a person who was not previously insured under a NMB individual or dual life policy within the last 36 months. Both insureds on a Dual Benefit Universal Life application count as new members, if they both qualify according to the above definition.
A cash bonus is available for trip qualifiers. A $500 cash award is presented to those who produce at the Leader Level. A $1,000 cash award is rewarded to those who produce at the Legend Level. Take note that this cash bonus does not count towards trip credit, but is strictly cash only.
Representatives qualifying for more than one level will only receive the highest Conference Trip. The exception to this rule is the bonus subset MDRT trip. MDRT qualifiers will earn the Legend Conference Trip as well as the MDRT Annual Conference Trip.
For trips where travel is not included, travel allowances will be incorporated in the qualification levels. When airfare is included, travel allowances are not distributed.
Taxation of Bonuses
Cash payments representing bonuses are taxable as ordinary income. This will be reported on your tax form at year-end.
Any travel or food expenses that are not provided by NMB 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 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, 2020. The excess over approved eligible expenses will be subject to income taxes.
The Home Office Rules Committee reserves the right to interpret the rules of these Conference Trips, which is an incentive trip and not a contractual right, and reserves the right to make final decisions regarding any qualifier.