| Issue No. 08 - March/April 2010 |
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MAKING HEADLINES
“Prestige”, “Standard of Sales Excellence” and “High ethical standards” are just some of the words which are synonymous with the MDRT brand. With only less than 1 percent of the world’s life insurance and financial services professionals qualifying to become a member annually, membership in MDRT is a prestige which every financial services professional strives to attain.
Once a member, your membership gives you the right to use the MDRT member logos, and usage of the MDRT brand reinforces your identity as being among the best and the brightest in the financial services profession.
We asked two MDRT members to share how the use of the MDRT brand has helped them to advance in their career.
The right to use the MDRT brand is an entitlement which only MDRT members can enjoy and thus, should never be taken lightly. By following closely to the MDRT logo guidelines when using the MDRT brand, and reporting misuse, you are helping to protect your MDRT identity.
Refer to the MDRT Logo guideline on the MDRT Web site to obtain a complete understanding of the acceptable usage of the MDRT brand or click here to download the MDRT Member Identification Manual to view samples of the various MDRT logos.
Once a member, your membership gives you the right to use the MDRT member logos, and usage of the MDRT brand reinforces your identity as being among the best and the brightest in the financial services profession.
We asked two MDRT members to share how the use of the MDRT brand has helped them to advance in their career.
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The right to use the MDRT brand is an entitlement which only MDRT members can enjoy and thus, should never be taken lightly. By following closely to the MDRT logo guidelines when using the MDRT brand, and reporting misuse, you are helping to protect your MDRT identity.
Refer to the MDRT Logo guideline on the MDRT Web site to obtain a complete understanding of the acceptable usage of the MDRT brand or click here to download the MDRT Member Identification Manual to view samples of the various MDRT logos.
FEATURES
Registration for the 2010 MDRT Annual Meeting is now open to approved 2010 members! So visit the 2010 MDRT Annual Meeting Web site for more details or click here to download the registration brochure. With the 2010 MDRT Annual Meeting less than three months away, you should start making your travel plans now.
If you are travelling to Vancouver from outside of Canada to attend the 2010 MDRT Annual Meeting, we recommend that you visit the Citizenship and Immigration Canada Web site to determine if you require a visa to visit Canada. Processing time may vary depending on the visa office, so apply for your visa early. In some cases, interviews may be required. If so, the Canadian visa officials will notify you of the time and place.
Approved 2010 members may download an official letter of invitation from MDRT to submit with their visa application.
The following requirements apply to those who are visiting Canada:
- You must have a valid passport with at least 6 months validity. The Canadian High Commission does not accept pages inserted into passports. If you do not have a blank page to accommodate a visa, a new passport must be obtained before submitting your visa application.
- Be in good health. You may need a medical examination to enter Canada. If so, you will be advised and given instructions on how to proceed. Please keep in mind that this can add up to 3 additional months of processing time to your visa application.
- Comply with the immigration law that you will leave Canada at the end of your visit.
- Demonstrate that you have sufficient money for the duration of your stay.
While you are at the Annual Meeting…join the Million Meal Challenge!
Every 3.6 seconds, 1 person dies of starvation. * Make a difference by volunteering to join MDRT’s efforts to help end world hunger.
During the 2010 MDRT Annual Meeting, MDRT members will work side by side to package 1 million meals for children and families in impoverished communities. These rice-based meals will provide nutrition and hope for people in need in Asia and around the globe.
Click here to sign up to participate in MDRT’s largest-ever volunteer project, or contact the MDRT Foundation at knight@mdrt.org for more information.
*Source: United Nations Children’s Fund (UNICEF)
Every 3.6 seconds, 1 person dies of starvation. * Make a difference by volunteering to join MDRT’s efforts to help end world hunger.
During the 2010 MDRT Annual Meeting, MDRT members will work side by side to package 1 million meals for children and families in impoverished communities. These rice-based meals will provide nutrition and hope for people in need in Asia and around the globe.
Click here to sign up to participate in MDRT’s largest-ever volunteer project, or contact the MDRT Foundation at knight@mdrt.org for more information.
*Source: United Nations Children’s Fund (UNICEF)
The sixth MDRT Experience meeting is returning to Singapore for the second time in February 2011. Open to both members and non-members, the MDRT Experience will take place from 24–26 February 2011 at Suntec Singapore International Convention and Exhibition Centre. And for the first time, the meeting will provide additional programming for approved MDRT members only at no additional cost.
Registration Fee Structure (Registration opens 1 June 2010)
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Stay tune to the upcoming issues of the Asia Connect e-Newsletter for more details on what to expect from the 2011 MDRT Experience.
China
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Philippines
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At the first MDRT Philippines Planning Seminar held on 11 January 2010, a USD10,000 cheque was presented on behalf of the MDRT Foundation to the Philippines Chapter of the Global Habitat for Humanity. Country Chair of the Philippines, Manuel Chuaunsu, and former Country Chair of Singapore, Stuart Shee Yew Kuen handed the cheque to Habitat’s Managing Director, Ricardo Nicanor Jacinto, during a handover ceremony at the seminar. IDEA BANK
“The talent of success is nothing more than doing what you can do well and doing well in whatever you do.”
Lim Beng Suan, LUTCF
18-year MDRT member from Singapore
When I meet with prospects/clients and conduct a financial fact find, there is always an overload of information and sometimes, our prospects/clients get confused with all the data and have difficulty focusing on their financial concerns, risks, long term goals et cetera. I found that by using an illustration as a 'Talking Piece' helps my prospects/clients to maintain focus on the possible financial concerns that may affect them during the discussion.
An example of such an illustration is called the Financial Building Blocks. The great thing about the blocks is you can put different concepts and financial concerns in the boxes and tailor it according to the specific profile of your prospect/client. For example, if your prospect is a business owner, you can include Business Continuity as one concern.During the discussion, I would explain the contents of each financial building block to my prospect/client. And often, I would realize that while I elaborate on each financial building block, my prospect/client tend to begin sharing about his or her experience. This presents me with an excellent opportunity to subtly collect information without having to go through a boring fact sheet.
I would typically end the discussion by asking three important questions:
- Which of these financial building blocks are you concerned about or would like to plan for?
- What have you done about it?
- What more do you think you can do?
2010 Zone Chair for Southeast Asia
12-year MDRT member from Singapore
Many of us tend to view work and private life as separate entities but in reality it is impossible to separate the two. I need to be available to attend to the needs of my clients wherever and whenever, even if it means that I have to sacrifice my weekends. I found it rather stressful at times because my private life is being disrupted by my work.
My solution to tackle the stress was to alter my mindset and integrate work with private life. For instance, I begin to wine and dine with my clients just like what I would do with my friends. And I realise that whilst dining with my clients, I am in fact expanding my network and in return, I might obtain more referrals. To quote a former president, he said: “we should surround ourselves amongst the kind of people we want as our customers.”
Secondly, when I had to travel to distant places to visit my clients, I no longer perceive travelling as a chore, but rather as a short getaway. The moment I incorporated work and personal life, I felt less tension from trying to juggle between work and personal life.
Takeru Minegishi
10-year MDRT member from Tokyo, Japan
We all know the importance of developing centres of influence with accountants and tax professionals. How about forming a full partnership with these professionals in order to bring in new clients for everyone? Much of the work that we do requires knowledge of tax components. Although most financial services professionals are prohibited from giving tax advice, we still need to describe the tax implications of our products.
A tax professional can meet with your prospect or client and provide them with additional tax services, helping you to offer a better service to your clients and prospects. The tax professional also serves to reinforce your recommendations.
Assuming each party adheres to high ethical standards and always has the client’s best interest in mind, a partnership with a tax professional can increase everyone’s productivity.
The secret is to find the right partners. One suggestion is to seek out young, talented individuals hoping to build their practices. You in turn offer him or her the chance to partner with an MDRT member who has good marketing and prospecting techniques. The actual manner in which you form your partnerships can vary and it is important to maintain your autonomy in the area of your expertise. However, with creativity and co-operation, partnerships produce great results.
Jim McEvoy, CLU, AEP
2010 Divisional Vice President of the Program General Arrangements (PGA)
20-year MDRT member from Brussels, Belgium
Creating a dynamic impression is essential. Instead of just telling prospective clients that you sell life insurance, say, for example, “I help my clients buy life insurance in a confusing and complicated market. Life insurance can secure an inflow of income, free of taxes”. Be more elaborate about your expertise.When dealing with friends, explain that you do not expect to do business with them just because you are acquaintances. But add: “I do, however, believe that you would not think highly of me if I did not highlight this matter to you. Due to the nature of my work, I prefer to bring the matter up three years in advance, rather than delay it even for a day. Can we set up a business appointment?”
It is also important to be able to cope with your fears about whether to make contact with someone or not. One strategy is to ask yourself: “If I were told for certain that this prospect would die or become disabled in three months, what would be the right course of action?” You can overcome the fear by learning more about your prospects ahead of meeting them, and understanding how they can be best served will enable you to make your communication more effective.
Constantinos “Dinos” Kyriakou, LUTCF
Regional Chair for EMEASA (Europe, Middle East, Africa and South Asia – India, Pakistan and Sri Lanka)
10-year MDRT member from Limassol, Cyprus
GET INVOLVED
We hope that you have enjoyed reading the MDRT Asia Connect e-Newsletter since its launch at the beginning of 2009. This is the eighth issue of the e-newsletter, and as part of our continual efforts to meet your needs and exceed your expectations of the e-newsletter, MDRT Asia Pacific is conducting a survey and we invite you to participate.
Your inputs and feedback will enable us to ensure that the e-newsletter reflects your expectations and becomes a better tool to help in your professional development and enhance your membership experience. Click here to take the survey and help shape your Asia Connect e-Newsletter.
Disclaimer: By participating in this survey, you give MDRT Asia Pacific Office permission to contact you directly for the purpose of clarifying a response(s).
Your inputs and feedback will enable us to ensure that the e-newsletter reflects your expectations and becomes a better tool to help in your professional development and enhance your membership experience. Click here to take the survey and help shape your Asia Connect e-Newsletter.
Disclaimer: By participating in this survey, you give MDRT Asia Pacific Office permission to contact you directly for the purpose of clarifying a response(s).
| “Ask MDRT” is a new initiative to enable MDRT members in Asia Pacific to stay connected by facilitating greater interaction and knowledge transfer. Ever had a burning question relating to the insurance industry or profession but did not know who to seek advice from? Now you can finally dispel those doubts by sending your questions to MDRT. Questions submitted will (if selected) be answered by an MDRT Country or Zone Chair and published in future issues of the MDRT Asia Connect e-Newsletter. If your question is published, MDRT will present you with a token of appreciation to thank you for your contribution. What types of questions can be asked:
What to take note of when submitting a question:
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By submitting a question, you agree that:
MDRT Asia Pacific Office will not be responsible if questions received are incomplete, lost, delayed or misdirected due to any technical reason or other reasons. The token of appreciation is non-exchangeable, non-transferable, and is not redeemable for cash or other items. MDRT reserves the right to substitute the token of appreciation with another item of similar value without prior notice. |
Do you have an interesting sales idea or a proven strategy to share with fellow MDRT members? We are keen to hear from you if your ideas are based on the following themes:
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We are also interested in ideas relating to Whole Person Concept, viewpoint on challenges facing the financial services industry, and also case studies that can inspire other members to overcome challenges to win over a client or sell a particular product. You can send your article or content outline to MDRT Asia Pacific at asiaconnect@mdrt.org. |
MDRT has specially designed a comprehensive ‘Fact Finder’ modular form complete with the MDRT branding, which you can use when interviewing your client. The ‘Fact Finder’ is available in the Members Only section of the MDRT Web site.
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CONTACT INFORMATION
MDRT Asia Pacific Office
Tel: +65 6496 5505
Fax: +65 6336 6449
Email: asiapacific@mdrt.org
Web site: www.mdrt.org
Tel: +65 6496 5505
Fax: +65 6336 6449
Email: asiapacific@mdrt.org
Web site: www.mdrt.org
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