Fast Start Program
The qualification period is February 15, 2023, through April 15, 2023. All submitted business will earn the bonus production credit up to 5,000. This is in addition to the Production Credit you earn when the business is issued. The bonus only applies to the total Production Credit qualifier category. You can use this bonus to meet both trip qualifications.
Trip Qualification Period
The qualification period for the 2024 President's Club Conference includes net issued business (Production Credit) produced during a twelve-month period from January 1, 2023, through December 31, 2023. An additional seven days will be given at the beginning of January 2024 to tighten up loose ends from the end of the year. Net new member counts are calculated during this same qualification period.
The qualification period for the 2023 Fast Track Conference includes net issued business (Production Credit) produced during a seven-month period from January 1, 2023, through July 31, 2023.
The qualification period for the 2023 Fast Track Conference includes net issued business (Production Credit) produced during a seven-month period from January 1, 2023, through July 31, 2023.
Contract Status
All qualifiers must be licensed and in good standing with BetterLife at the time of the Conference to receive any awards. Both trips are 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 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.
Multiple Trips
Representatives qualifying for more than one trip promotion will receive both the Fast Track Conference and the President's Club Conference Trips.
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. A President's Club Trip 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, 2024. The excess over approved eligible expenses will be subject to income taxes.
Guests
Agents can invite one guest to the President's Club Conference Trip with airfare costs covered. The Fast Track Conference is intended for the agent ONLY.
New Agents
New agents will NOT be prorated for the Fast Track Conference or President's Club Conference Trips.
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 agenthelp@betterlifeins.com for assistance.
