What is Million Dollar Round Table (MDRT)?
Million Dollar Round Table (MDRT), The Premier Association of Financial Professionals, is an international, independent association of nearly 36,000 of the world’s leading life insurance and financial services professionals from more than 430 companies in 78 countries.
To be eligible for a basic MDRT membership every year, an agent has to meet a specified production goal in the first year income or a certain commission in addition to adhering to a strict code of ethics. As per the qualifying norms for 2010-11, an agent has to earn a commission of Rs 7,59,100 or a premium of Rs 30,36,400.
Within the MDRT, there are three levels such as the basic MDRT, the Court of Table (CoT) and Top of Table (ToT). Court of the Table and Top of the Table serve as additional incentives for members to increase their levels of production. For the agent to qualify for the CoT, he has to do thrice the MDRT business, while to qualify for the ToT, the insurance agent has to do six times the business required for the MDRT. Both Court of the Table and Top of the Table members can take advantage of additional member benefits provided exclusively to them.
How to apply?
1) Request an application online.
2) Complete the application form. Answer all questions completely.
3) If you are a first-time member, send the certifying letter(s) to your company(ies). Download Certifying Letters Here
4) Return the completed application and dues payment to MDRT in the provided envelope
What are the membership dues?
Membership dues are USD 550, for applications postmarked by March 1. After March 1, dues are subject to a USD 200 required additional fee, making membership USD 750.
2010 Top 10 Companies on the basis of MDRT
1. SBI Life Insurance Co. Ltd. (India)
2. New York Life (USA)
3. Samsung Life Ins. Co. Ltd. (Republic of Korea)
4. Life Insurance Corp. of India (India)
5. Northwestern Mutual Financial Network (USA)
6. Prudential Life Ins. Co. Ltd. (Japan)
7. AIA-Hong Kong (Hong Kong) 603 8. Prudential Financial (USA)
9. Sony Life Insurance Co. (Japan)
10. Kyobo Life Ins. Co. Ltd. (Republic of Korea)