Reward Disbursements
Prior to any Reward disbursement, the Member must do the following:
- Reconfirm Member Profile data (email, mailing address, income, Marital status, etc)
- Annual Cash Rewards will be paid upon each Anniversary Date where the Member achieved or exceeded the accrued Points goal required for that Plan Year.
- No Annual Cash Reward is paid in years where a LifeStage Reward paid.
- LifeStage Rewards are paid out at LifeStage Rewards Plan Year 10, Plan Year 20, and Plan Year 30.
- The LifeStage Program Reward at Year 10, if not Deferred will range from up to $2,500 to $10,000 depending on LifeStage Rewards Plan.
- The LifeStage Program Reward at Year 20 will range from up to $25,000 to $100,000 depending on LifeStage Rewards Plan.
- The LifeStage Program Reward at Year 30 will range from up to $250,000 to $1,000,000 and may be slightly increased by any Referral Bonuses received by the Member.
- The default disbursement method for the LifeStage Rewards Plan Year 30 Reward is to be paid out as an Annuity with 10% upon satisfying the eligibility criteria and the remaining 90% spread over the next 9 years. At this point the Annuity is an asset of the Member and eligibility will not be impacted by any Marital Status/Spouse Death/Insufficient Spending events subsequent to the LifeStage Rewards Plan Year 30 Anniversary Date.
- The Member has the option to have their Plan Year 30 LifeStage Reward paid out as a lump sum, which if selected will be discounted to 50% of the Annuity value.
- LifeStage Rewards will be paid within 90 days of the Plan Year 30 Anniversary Date. This allows uTANGO time to verify eligibility as well as all Merchant transactions.
Refer-A-Friend
- All Active Members are eligible to receive Referral Bonuses
- Each new account referred by a Member that successfully registers will receive a Refer-A-Friend credit to the Referring Member of US$1,000 added to the Referrer's Plan Year 30 Reward.
- This Referral Bonus will be granted as Pending upon Referred Registration, but is conditional upon the Referred Member successfully Marrying and Activating a LifeStage Rewards Plan.
- Activating a LifeStage Rewards Plan requires the Member to confirm that Members are Married AND accrue sufficient Points to satisfy the LifeStage Rewards Plan Year 1 minimum balance requirements.
- The Referral Bonus will be posted as Pending to the Referring Member Account immediately upon the Referred Member successfully registering (which includes confirming their email address and completing their profile).
- Referring Member must successfully reach the LifeStage Rewards Plan Year 30 Reward Anniversary Date in good standing to receive any of the accumulated Referral Bonuses.
- UMMs are still eligible to accrue the US$1,000 bonuses, even though per the UMMs would not start accruing value for their LifeStage Program Rewards until UMMs are officially Married and meet the other LifeStage Rewards Plan minimum Points accrual requirements.
- Each Member can earn up to a total of 500 (US$1,000) Referral Bonuses up to $500,000 credited to their Member Account during the Program life span.
- Use Case #1: If Member A was the first to refer 700 potential Members who all registered, the Referring Member would get U$1,000 credit for the first 500 active registered Members. The next 200 referrals would not earn a Referral Bonus, even if other Members also referred the same potential Member. Continuing this example, of the 500 Referrals that Member A earned credit for, if 300 of these new Members voluntarily dropped out prior to becoming LifeStage Rewards Plan Active then Member A would still not receive any credit for the other 200 referrals from the original 700 nor would Member A receive a Referral Bonus on the original 300. However Member A would have the ability to earn another 300 Referral Bonuses to again max out at the 500 Referral Bonus limit.
- Use Case #2: If two Singles referred 500 friends, then got Married, they would jointly have 1,000 Referral Bonuses that they will retain. However the Referral Credit limit for subsequent referrals will still be 500 referrals. So if from the 1000 referred friends, 400 dropped out leaving 600 referred friends still in the program this couple would still not be able to earn any future referral credits until other friends dropped out to the point that their pending referral count was again below 500.
- Referral Bonuses do _not_ apply against the annual spending Targets for the Referring Member. Referral Bonuses are a Future Value US dollar amount that is added to the ultimate LifeStage Rewards Plan Year 30 Reward.
- For Privacy Reasons, when debiting any lost Referral Bonus from the Referring Member account, uTANGO will not specify which previously Referred Member failed to maintain a valid account.
Referred Member Details
- For the Referring Member to retain the Referral Bonus, the Referred Member must eventually confirm that Members are Married and Activate a LifeStage Reward LifeStage Rewards Plan.
Tracking Referrals
- The first Member to refer a candidate will get the credit when the Referred Member Registers, regardless of how much time passes.
- For those Members who register with a Mobile number in addition to their Email, uTANGO will grant Referral Bonus to the Member who sent the first invite to either email or SMS. No Referral Bonus will be granted if a Mobile number is provided post-registration. This will minimize confusion over granting and revoking Referral Bonuses for the email Referring Members.
- No Referral Bonus will be granted for Members who register without any identifiable tracking or links.
- Non-Members cannot earn these Referral Bonuses.
