A seat at the table. That’s what professionals in the insurance industry seek every year. It’s an indication of top performance, of serving the public well, of being in the upper echelon among peers. The Million Dollar Round Table establishes benchmarks each year for financial professionals to strive for, and those who do are given that coveted seat.
MDRT announced its production quotas for 2007 (see table). Advisors who meet these numbers qualify for 2008 membership. According to the organization, at least 50 percent of the production requirement must come from individual and group life, accidental death and dismemberment, annuities, disability income, long term care and critical illness, or pensions written by life insurance companies.
In addition, MDRT members must be members of a professional organization that meets certain criteria:
- Association must be an individual membership organization, be nonprofit, and have a code of ethics with means to deal with breaches of said code.
- Participation cannot be denied because of company affiliation.
- One focus must be insurance or financial services.
- It must have been in existence for at least two years and have at least 100 members.
For more information, www.mdrt.org.
MDRT 2008 Production Requirements:
|Eligible Commissions Paid||Eligible Paid Premium|
|Court of the Table||$245,400||$490,800|
|Top of the Table||$490,800||$981,600|