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MDRT Club

The Million Dollar Round Table is an international, independent association of over 21,000 sales professionals in the life insurance based financial services business. Each has met strict ethical and production requirements to qualify for the MDRT.

Regarded as business and community leaders, MDRT members represent over 450 companies including the Life Insurance Corporation of India from more than 60 nations and their territories. 

Membership in MDRT is recognised internationally as the standard of sales excellence in the insurance-based financial services business.

The next MDRT Annual meeting is to be held from June 11th to 15th, 2000 at San Francisco, California, U.S.A.

Eligibility Criteria

Production Requirement

Membership for the 2000 Round Table is based on the minimum of Rs.3,96,500/- First Year Commission (excluding Bonus Commission) paid to the Agent in the calendar year 1999. 
The requirement of minimum number of lives/cases to be procured has been eliminated. The conversion factor applicable for India for conversion of the production requirement of Rs.3,96,500/- into US dollars is 6.9561.

Eligible Commission

• First Year Commission paid during the period 1.1.1999 to 31.12.1999 on business completed during the period 1.1.1999 to 31.12.1999 and remaining in force as on 31.12.1999
  
  
• First Year commission paid during the calendar year 1999 on business completed during the period 1.1.1998 to 31.12.1998 irrespective of whether the business is in force as on 31.12.1999 or not provided credit for the same was not given for MDRT 1999 Table (1998 Calendar year production)
  
  
• Bonus Commission to be strictly excluded. (MDRT has categorically clarified that Bonus Commission shall NOT form part of the First Year commission and hence should not be taken into account for MDRT membership purposes)
  
  
• All annuity commissions regardless of the effective date of the policy are eligible for credit

Eligibility Criteria New Requirements

The MDRT authorities have intimated the following production requirements ( first year commission excluding bonus commission for the calendar year 2000) for India for MDRT membership :

• For the MDRT Table Rs.4,67,500/-
  
  
• For the Court of the Table Rs.14,02,500/-
  
  
• For the Top of the Table Rs.25,40,094/-

Eligible Policies

Unlimited Credit:

A minimum of 60% of the required commission must come from the following policies written by Life Insurance Company

• Individual and Group life (ordinary and term) - first year commissions
  
  
• Individual and group annuities - all commissions
  
  
• Individual and group pension cases - first year commissions
  
  
• Individual and group disability income contracts - first year commissions
  

• Individual and group accidental death and dismemberment - first year commissions

Limited Credit: 

Up to a maximum of 40 percent of the additional commissions may come from

• Long term care - first year commissions
  
  
• Individual health care coverage - first year commissions
  
  
• Group health care coverage - all commissions
  
  
• Mutual funds or their non-US equivalent - first year commissions

Top of the Table Requirement

The requirement for the Top of Table is 6 times the MDRT production requirement mentioned above. Top of Table members with minimum of 10 years TOT membership may apply even without satisfying the production requirement as TOT "Life". 

All rules and regulations concerning calculation of First Year Commission for MDRT Members shall apply to Top of the table also. A minimum of 60% must come from policies listed under unlimited credit.

Court of the Table requirement

The requirement for Court of the Table is Three times the MDRT production requirement mentioned above. All rules and regulations concerning calculation of First Year Commission for MDRT Members shall apply to Top of the table also.

A minimum of 60% must come from policies listed under unlimited credit

Maximum credit allowable for production written on the applicant's and their dependant's lives: 

First year commission paid to the agent during the calendar year 1999 in respect of business written on his own life, on the life of his/her spouse or life of any other person who is dependent on him shall not exceed Rs.19,825/- while the computing production requirement of Rs.3,96,500/-

Application forms will be sent by MDRT to approved 1999 members and 1999 provisional applicants.

In case the aspiring Agents require more details, clarifications etc. They may write to the membership director, MDRT at this address

Millon Dollar Round Table Membership Department

325, W. Touhy Avenue, Park Ridge
IL 60068-4265, U.S.A 
Telephone:874 - 692-6378 
Fax: 874 - 518-8921

For any further details, agents may also contact:

Mr. Bharat Purohit
IMCC Zone Chair
India , Sri Lanka, Bangladesh
22/2, Vasudev Mansion
30/F, Cawasji Patel street,
Fort , Mumbai - 400 001.
Tel: 285 2397 

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