The MDRT membership is a coveted career milestone and is only available to the best and the brightest in the financial services profession. So continue your relationship with MDRT and receive the recognition that you deserve.

Applications for the 2011 MDRT membership have been sent to all 2009 and 2010 MDRT members. Mail your applications by 1 March 2011 to avoid paying the additional required fee of USD 200. Faxed and e-mailed applications will NOT be accepted. You may refer to the production requirements (by country) to qualify for 2011 MDRT membership by clicking here.

Follow these five simple steps for submitting your membership application:

Step 1 If you have not received your 2011 membership application form, click here to make an online request or to download your personalised 2011 membership application form. Step 2 Verify that your personal information at the top of the application is correct and answer all questions on the form. If your information needs revisions, please make corrections directly on the application. Step 3 Send the certifying letter(s) to your company (ies) to have your eligible commission or premium production verified. You may make copies of the certifying letter form if you need to send it to more than one company. Click here to obtain your certifying letters. Note: The certifying letter is not an application. Those applying using the income qualification method must include all documentation needed to verify production (see application instructions for complete details). Step 4 Make a photocopy of your application and certifying letter(s) to keep for your records. Step 5 Return the completed application, certifying letters and dues payment to MDRT headquarters in the envelope provided postmarked no later than 1 March 2011. Membership fees can be paid via MDRT's secure payment site.

You can check the status of your application by clicking here. Enter your MDRT ID number (available from your copy of the application sent to you) and your birth date to verify.

For further information about applying for MDRT membership, you may contact us by phone at +1 847.692.6378 or e-mail membership@mdrt.org.

Jump start the first quarter of 2011 by attending the 2011 MDRT Experience. From 24–26 February 2011, thousands of MDRT members and enthusiasts from around the world will gather in Singapore to attend the 6th MDRT Experience. Have you reserved your seat?

If you have not registered, this is your last chance to enjoy registration at a discounted rate, as the regular rate of SGD 550 expires on 31 January 2011. The on-site registration rate of SGD 650 will apply from 1 February 2011 onwards.

Do not miss this excellent opportunity to learn and network with the best of the best in the industry. Click here to register today!

MDRT officially launches the NEW and improved mentoring program. Some features of the new program include:

• NO paperwork is required – Online enrolment
• NO enrollment fee
• NO manager required – Mentoring team includes a Mentor and an Aspirant
• NO renewal required – the participation period is unlimited
• NO monthly production reporting required
• MDRT resources available to mentoring teams, including monthly updates on the MDRT website
• Aspirants would have to meet the following eligibility requirements to attend the Annual Meeting.
  • First time attendance at the 2011 MDRT Annual Meeting as an Aspirant: achieve 50-percent of the 2011 MDRT membership production requirement.
  • Second time attendance as an Aspirant: achieve 80-percent of the 2011 MDRT membership production requirement.
  • Aspirants must submit a signed MDRT certifying letter to verify that they have reached the minimum Commission or Premium production.
  • Aspirants are required to attend the Annual Meeting with their respective Mentors.
  • Aspirants are required to pay the full Annual Meeting registration fees. For more information, visit www.mdrt.org/2011am.
    
    

To participate in the program follow these steps below:

1. Access the MDRT website at www.mdrt.org
2. Click on the MEMBERSHIP tab and scroll down to MDRT Mentoring
3. Enter the required data for both Mentor and Aspirant and you are done!

You will receive an acknowledgement of your participation upon enrolment. Start your mentorship program today!  For further enquiries, contact Debra Martin from the MDRT Membership Department at dmartin@mdrt.org or call +1 847.692.6378.

Mark your calendar for the event that will provide you with inspiration, ideas and solutions to carry you through the year. Approved 2011 MDRT members can attend the 2011 MDRT Annual Meeting and experience the high energy, entrepreneurial spirit of the Round Table. Registration opens in February 2011.

For more information, visit www.mdrt.org/2011am.

From the 16 November 2010 issue of the Asia Insurance Review’s eDaily newsletter:

Bancassurance is growing in many Asian markets, boosted by deregulation of the banking sector and insurance companies intending to optimise distribution via banks, according to a report by the U.S.-headquartered research and advisory firm, Celent, titled “Bancassurance in the Asia-Pacific Region: Replacing the Agency Distribution Model".

Celent says that insurance sales through banks in the Asia-Pacific region are growing quickly despite the dominance of agents in both life and non-life insurance.

In the life insurance market, penetration by banks ranges from 10 percent of sales in India, Japan, and Thailand to as high as 50 to 70 percent of total insurance distribution in countries such as Taiwan and Malaysia. Celent expects the agent channel to decline in those markets and give way to non-traditional channels, including direct sales and aggregators as well as banks.

In mainland China, banks accounted for 27 percent of insurance sales in 2009, compared to 37 percent in the agent channel, Celent found. In countries where the Muslim population is high, banks are offering a range of insurance-related products, known as takaful, that meet Islamic religious restrictions. Malaysia, Indonesia and Thailand are among the countries considering this opportunity, Celent reports.

Celent Analyst, Ms. Prathima Rajan, author of the report, expects that eventually bancassurance should grow in the P&C segment as well. In the most mature markets, such as South Korea, property insurance sold via bancassurance already accounts for 5 percent.

Speakers of the 2010 MDRT China Road show in Beijing. The 2010 MDRT China Road Show held on 6 November 2010 at the Crown Plaza Sun Palace Hotel in Beijing, China was a successful event with 1,400 attendees. MDRT members, nonmembers and senior management from various insurance companies in China attended the road show, which was themed “Appreciate Care, Convey Love.” MDRT speakers from China, Malaysia, Singapore and Taiwan shared numerous insightful and inspirational content. More importantly, the road show aimed at spreading the message on how to appreciate and value human life.

A very good friend of mine owns an art gallery. She wanted to add value to her services so we came up with a partnership idea.

When she invites clients to view a new art collection in her gallery, she also invites them to attend an exclusive “Money Management Seminar” held right in her gallery. Since the seminar is held in a very relaxing atmosphere, I can approach her clients in a non-threatening manner.

I also conduct seminars especially for Japanese teachers who teach at English Conventional Schools. These seminars are similar to a basic course in financial literacy. The duration of the seminars is 90 minutes with a coffee break in-between. As these seminars are usually held in their classrooms, I become the teacher and they become my students.

After the seminars, I often invite the prospective clients for a private consultation session in my office. Scheduling appointments in my office saves me travelling time and helps me determine which individuals genuinely recognise the need and importance of financial planning. I conduct about four to five seminars every year and they provide me with a reliable source of new business and referral sources.

I achieve success by maintaining a balance between activity and spiritual well-being.

The Activity Balance comprises the following: prospecting and referrals, telephone approach, first meeting, fact finding, presentation and closing (signing the contract).

The Spiritual Balance refers to our mental well-being and comprises the following: attitude (the way you behave towards your work and client), belief (confidence that your product knowledge and service are good), courage (the ability to approach every prospect without fear), and diligence (being meticulous and earnest in completing what you have undertaken).

You will achieve success if you focus on your goals and master how to operate the “wheels” in the right direction.

The Taipei 101 is an iconic building in Taiwan. It takes approximately 30 seconds to reach the 88th floor by elevator, but several hours to reach the 88th floor if you take the stairs. So I would explain to my client that, likewise, buying insurance is similar to arriving at the 88th floor by using the elevator. The contract takes effect immediately when you sign the papers. So in the unfortunate event that something untoward happens to you, the insurance company would compensate you so there is no need to rely wholly on your savings to tide over the misfortune. Then, I continue to explain that, on the contrary, putting your savings in the bank without purchasing insurance is akin to climbing the stairs to reach the 88th floor. This is because, it would usually take several years to accumulate the same amount of money which you could have been insured for, if you had purchased an insurance policy. I stress to my client that in the event that something unexpected happens, and they are not insured, they would not only lose their stable source of income, they would also have to deplete their savings in order to survive.

When talking to a client or a prospect who is a business owner, I usually ask the prospect if his or her business is a profitable one. The answer is usually a yes, but they will also add that they usually reinvest their profits into the business. The prospect believes this will lead to greater earnings.

Albeit the prospect would most likely make more money by reinvesting in his business as compared to investing his profits in other activities, there is a potential risk that the investment might fail. Thus, it is important to help the prospect understand there is another way to invest.

Next, I will ask my prospect if he or she agrees that it is a better idea to put a small amount of the yearly profits into an investment plan with a guaranteed yield rather than be exposed to the risk of bad business performance.

If the prospect shows interest after our short dialogue, I would proceed to explain how he or she can accumulate a lump sum after 10 to 15 years (it needs to be a significant amount of money) while continuing to earn money from his or her business activities.

This idea has given me large and recurring investment plans as well as new prospects. Many people simply need to see things from another perspective.

MDRT Asia Pacific Office

Tel: +65 6496 5505
Fax: +65 6336 6449
Email: asiapacific@mdrt.org
Web site: www.mdrt.org