What is MDRT?

MDRT = million dollars round table!

It is an award for FAs who met the commission target & every year the target differs! :)

Mdrt is a religion for some insurance agents. It is also a marketing tool when it comes to recruitment. Mdrt says more about the sales skills and activity level rather than specific financial knowledge. It does mean the agent is motivated to do well in sales although it does not correlate directly with competence or knowledge. For this year the qualifying first year commissions including sales bonus from the respective insurance companies for mdrt is around 70k SGD. This is before taking into account income taxes, costs of running sales and treats to prospects and existing clients. COT is 3x mdrt, TOT is 6x mdrt. Note that there are other qualifying methods apart from first year commissions and agents have to pay fees to become a member.

If you are looking for a agent, you have the right to know who and what you are dealing with. If you are looking to become an agent, be wary of what mdrt means