What is Million Dollar Round Table (MDRT) ?

MDRT

MDRT is a well-known international organization for insurance agents all over the world and it is recognized internationally as the standard of sales excellence in the life insurance industry. Over the past several years, more than 6000 LIC Agents have had the opportunity to be a member of this elite organization. It serves as a badge of honor and gives great prestige to the LIC agent if he/she qualifies to be a part of the MDRT organization. Here are some details about it –

What is MDRT?

Million Dollar Round Table Conference, also called MDRT is a global independent organization of the world’s leading life insurance and financial services professionals from more than 500 companies in 70 nations and territories. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct, and outstanding client service. MDRT membership is recognized internationally as the standard of excellence in the life insurance and financial services business.

How to qualify for MDRT?

Active members of insurance sectors including LIC have a chance to qualify for MDRT. In India, insurance agents who have generated a first-year commission of at least Rs.9.98 lakh from life insurance policies can qualify for MDRT. Agents having non-life businesses can also qualify for MDRT, however, at least 50% of the Rs.9.98 lakh has to come from life insurance policies.

What happens in MDRT conference?

If you are LIC agent then it would be your first dream to be MDRT agent. Basically, you will be selected for an international seminar which happens once a year, where all excellent insurance advisors from the different insurance companies will participate and share their innovative ideas. There is massive scope for socializing with successful agents from all over the world and ideas can be shared on a global level.

MDRT Levels


Sr. No.	Membership	Criteria
1.	MDRT	Basic
2.	Court of the Table- COT	3 Times MDRT
3.	Top of the table- TOT	6 Times MDRT

MDRT and LIC

To qualify for MDRT, you need to be an insurance agent from any sector. LIC agents have an advantage over others due to the increased reach the company has as compared to other insurance companies. LIC can guide you to successfully apply and excel at MDRT conferences.

What are the benefits of joining MDRT?

There are several benefits of being a member of MDRT. Some of them are –

Career Advancement – Requirements for basic membership, as well as higher level requirements for Court of the Table and Top of the Table membership reinforce the importance of setting and achieving worthy goals.
Client Trust -The MDRT Code of Ethics ensures that members act responsibly in a way that builds more trust with their clients.
Leadership Opportunities – MDRT provides opportunities for members to volunteer in the organization, helping them to develop important skills that will translate into enhanced business skills that can be applied to their own business.

What is the procedure to join MDRT?

If LIC agent qualifies with the eligibility criteria then he/she has to apply to MDRT in a given format for Id Card.
Once it is allotted the LIC agent can easily download his/her ID card with given ID no.
Then Agent will send directly to MDRT, USA before last date with a certifying letter issued by LIC competent authority (Sr. Divisional Managers) and fee.
MDRT will issue a certificate of registration to the LIC agent. LIC Agent can take guidance of the MDRT Help Desks at Divisional and Zonal levels for those purpose.

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