LIC tops Million Dollar Round Table list

MDRT is premier association for financial services professionals like insurance agents; LIC leads the chart with 6730 MDRT members

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Life Insurance Corporation of India (LIC) has topped the company ranking list of the Million Dollar Round Table (MDRT) in 2014.

The ranking has 6,730 MDRT members.

Founded in 1927, MDRT claims to be a “an independent association of more than 42,000 of the world’s leading life insurance and financial services professionals from more than 470 companies in 71 countries”.

Apart from the basic membership, MDRT has two levels — court of table (COT) and top of table (TOT). MDRT’s Top of the Table is an exclusive forum for the world’s most successful life insurance and financial services professionals.

It has now been decided by LIC to encourage more agents to join this esteemed group. The aim is to achieve 13,000 members this calendar year.

To become a member of MDRT in 2014, an agent is required to do annually. Agents are required to have a minimum commission of Rs 8.36 lakh annually in 2013 and Rs 25.08 lakh for COT. Court of the Table members must earn three times the MDRT base production requirement and are eligible to attend a special session at the MDRT annual meeting to celebrate and network. Top of the Table, MDRT's highest level of membership, comprises those members who submit six times the MDRT production requirement.

MDRT members get access to meetings, networking opportunities and international training and development. Through its many professional development programs, services and products, MDRT provides opportunities for members to gain insights into all aspects of expanding their business, leading to even greater success. Its membership is regarded as the standard of excellence in the insurance and financial services industry.