In many ways, this platform is somewhat of a classroom for all of us, a place where we come to learn and grow — not only to grow our business but also to grow as better human beings and to explore together the further opportunities present in this fast-changing business environment. Thank you, MDRT, for this wonderful learning and sharing experience.

I am here to tell you not just my story but also the story of the incredible people I have met. They continue to inspire me, teach me and guide me in the journey of my life. They are my wonderful clients, who have made this journey a truly amazing one.

Congratulations to all of you who have already qualified for MDRT, Court of the Table and even Top of the Table. Hearty congratulations to all those who have qualified for MDRT for the very first time. This is just the beginning. Once an MDRT, always an MDRT. Let’s give ourselves a big hand. I also want to congratulate you for making the decision to be here. You did not have to attend. It was certainly not compulsory, but you did. You also chose to be at this session. Allow me to thank you and assure you that you have made a good choice.

I’ll begin by sharing with you my journey to MDRT and beyond.

Let me take you down memory lane when the picture was not as rosy as it looks now. Selling life insurance was not my first choice for a career. I never really got a chance to actually choose a career. It was the first opportunity to come my way. I come from a middle-class family and am the youngest son in a family of five sisters and two brothers. I was an average student at school and cannot remember being exceptionally talented either in academics or sports. I made it through the 10th grade with a second division and had to join the commerce stream. As I had to attend college every day between 7 a.m. and 10 a.m., I decided to take a part-time job to supplement the family income. One fine morning, I came across an advertisement issued by the Life Insurance Corporation of India calling for “career agents” and offering a stipend of $300 per month. Thirty-three years ago, this seemed to be a reasonable and good amount of money to start with. I must confess here that while I was looking for a suitable job, one of the chief factors that attracted me to the life insurance business was “freedom of action”; the other was an “unlimited financial opportunity without any investment.” But later I realized that these statements were not fully true.

Freedom of action — this was something I loved. Freedom of action is the reason why people succeed as well as fail in our industry. The freedom of action enjoyed in our profession can actually make or break a life insurance salesman. Unless we are able to handle this freedom of action, we cannot succeed. Freedom of action reminds me of the day I entered the College of Commerce after 10 years of schooling in a school run by missionaries. I felt like a free bird ready to spread my wings and explore the skies. I suppose every young person entering college would be able to relate to this sense of freedom. I did not have to wear a uniform, and 100 percent attendance was not compulsory. I liked to dress in casual jeans and a T-shirt. When I entered this profession, I found that there was a problem, and the problem was posed by none other than my good manager, Mr. L.T. Mulchandani. He monitored me like a schoolteacher. He gave me a study period, assignments and a timetable to be followed. You are probably wondering if I also wore a uniform. Of course I did — I had to be in the market early every morning at the same time dressed in a light-colored, formal shirt matched with dark-colored trousers and leather shoes. I had a preplanned timetable to follow. The number of calls I made every day was carefully monitored. Sun, rain or storm, I had to complete the required number of calls before I returned home. Well, this was definitely not my idea of freedom of action. I was blessed to have Mr. Mulchandani as my manager and my guru. Like a potter shapes clay, he shaped me. He guided me along the way and helped me learn the fine points of life insurance. The discipline he gave me in the early stages of my career has now become a habit. Your presence at the Annual Meeting indicates a strict sense of discipline and commitment to your profession. Congratulations once again.

Some of us are in this profession by chance, while others may be here by choice. By chance or by choice, we are now here. We are here to make a difference.

Now let me move on to the five distinct steps that helped me qualify for Top of the Table and to stay there.

Increase the client base

In my initial years, I had disciplined myself to meet at least 10 prospects daily and tell them the life insurance story. Way back in 1992, when I qualified for MDRT for the very first time, I had a client base of around 300 families. At that time, I decided that if I wanted to qualify for Court of the Table, I had to increase my client base by at least 900 families. If I could do this, I would automatically qualify for Court of the Table. I concentrated on increasing my prospecting activity on a daily basis. I was able to achieve this target after only three years when I qualified for Court of the Table in 1995. After successfully completing the target for Court of the Table, it was natural for me to aim still higher for Top of the Table. To achieve this prestigious title, which is every life insurance salesperson’s dream, I had to increase my client base from 900 to 1,800 families. If there is one important message that you wish to take away from this session, it is to increase your customer base. Once you have a strong customer base, your customers will give you their business once every three years. An increased customer base will lead to increased activity, for which we require more people.

Have support staff to service the growing client base

The second important thing is to have the support staff that allows us to service the growing client base. An efficient and effective team will allow us to spend more time in the market doing what we do best.

Do what you do best, and delegate the rest

In 2002, I attended a training program at Strategic Coach in Canada, conducted by Dan Sullivan, which taught me to identify and understand my unique ability and has done wonders for my life and career. Understanding our unique ability and making it work for us is a gift that we give ourselves, because our unique ability is a superior ability fueled by passion that we constantly want to improve. I identified my unique ability. I am at my best in front of people; I love interacting and meeting new people. So, the first step is to identify one’s unique ability and proceed to working on improving it. An immediate outcome of the Strategic Coach was to do what I do best and delegate the rest. If we need to focus on our unique ability, it is very important to do what we do best and delegate the rest. Even during my struggling years, when I earned a meager commission of approximately $300 per month, I hired an assistant and paid him a monthly salary of $150 in order to spend more time with prospects and clients.

Another factor that attracted me to this profession was that there was no investment involved. At that point in time, I could not afford any further investment other than what my parents had invested in my education. But today, after 33 years in the life insurance business, I do not agree with the concept of “no investment.” For I have realized that investment in oneself and in one’s business is of utmost importance. From the very first Annual Meeting that I attended in 1996, I learned that investment in oneself and one’s business is very important to guarantee future success. I have invested in myself through various training programs and also in my business.

I strongly believe that the money spent on the staff is an investment and not an expenditure.

My team consists of highly qualified, talented and committed people who have taken on the challenge of running an independent office. Training programs for my staff are a regular feature. I take good care of my staff, and this has resulted in great dedication and commitment on their part. I spend approximately $10 million per year on salaries. My wife, Babita, is a very supportive spouse, who doubles for me both at the office and at home. Her assistance and support in putting together our team, revamping the office and looking after the smooth functioning of the office is commendable. Her encouragement and motivation have enriched both my career and my life. Having a family member involved in the business is an added advantage. She is also a life insurance agent and has been qualifying for Corporate Club membership since 2012. She has also qualified for MDRT eight times and Court of the Table three times. Mr. R. Gopinath is a legend in our business and a man of international repute who conducts regular training programs for my team so that they are strong in all the concepts related to life insurance and the life insurance business.

I believe that lifelong learning is the key to sustainable success.

The most productive door

Which door do you think helps us to build our business? Is it the door of our home, our office or the prospect’s door? Without any doubt it is the prospect’s door. We should always remember that prospecting is the heart and soul of our business, and our place every day is at the prospect’s door. The office is for the staff. My well-equipped office is conveniently and centrally located in the heart of the city. The entrance of my office has been done up with neon signs and colorful boards spreading the message of life insurance. Passersby are instantly attracted to the office. The interior is aesthetically designed with modern amenities, including a conference room, customer-friendly kiosk and recreation space for the staff. We do not have closed offices, and we are easily accessible to each other. My staff adheres to a smart dress code; they are very efficient in their work and sensitive to the needs of my clients.

No office concept

When life insurance agents begin their career, they spend maximum time in the field. But as they expand their client base and qualify for Club membership, they are obligated to maintain an office. Along with the office and staff comes the temptation to spend more time in the office servicing clients. Therefore, the office becomes a big bane for the growing agent. We must keep in mind that the office is for our staff. Our place is at the most productive door. Our office opens when we are at the prospect’s door.

An efficient and effective team enables us to spend maximum time in the market, which will automatically help us to complete our target in a shorter period of time.

Complete the target in shorter periods of time

When I qualified for the Million Dollar Round Table for the very first time in 1992, I had worked for it day and night till the last day for completion. At that time, I had completed around 300 families and was on top of the world. For all of us life insurance agents, being a member of MDRT is the minimum goal that we would like to reach every year. Several life insurance agents achieve MDRT within a few years of being in the business, which is certainly a matter of pride. And, yes, they go on to qualify for MDRT year after year. But this is just not enough. The achievement of the first MDRT should always be viewed as the beginning to greater achievements.

I had achieved the first goal by qualifying for MDRT. My next goal was to qualify for MDRT within a shorter period of time. I decided that the following year, instead of making the deadline  December 31, I would qualify for MDRT by October, two months in advance. I achieved my goal by qualifying for MDRT within 10 months instead of 12. I qualified for two MDRTs in 1994 and three MDRTs in 1996. I set further goals to qualify for MDRT within still shorter periods of time, and I also achieved those goals. While achieving MDRT within shorter periods of time became an ongoing process, I gradually qualified for Court of the Table in 1995. By this time, I had increased my family base from 300 families to 900 families. I benefited much from setting goals and keeping to a daily schedule.

Completing the target in less time always gave me a special thrill and a sense of being in control. My dream to qualify for Top of the Table was fulfilled in 2000. Qualifying for Top of the Table certainly excited me, but the thrill of completing the target the very next year within a shorter period of time gave me greater joy and satisfaction. In 2005, I achieved three Top of the Tables. Now I aim to qualify for Top of the Table not just every year, but as many times as I can year after year. I have completed five Top of the Tables for 2018.

It has been rightly said: “Growth is not a luxury but essential for survival.”

Unlimited opportunities — this is something unique about this profession. When we take up this profession, we are given a checkbook containing checks with our name written on them, payable to us and duly signed. We can withdraw as much as we want whenever we want. The opportunities are unlimited. We all know that “prospecting up is the name of the game.”

Make Top of the Table a love affair

Do you want to qualify for Top of the Table? Then treat it like a love affair. If you want it, you can get it.

Way back in college, my friend Lucky had a soft spot for the dream girl at the college. Lucky was very average looking and did not possess any exceptional talent or charm. He was the butt of all the jokes in our friend circle because we were quite sure that the dream girl of our college could not fall in love with a boy like him. You can imagine our shock when we came to know that he was dating this dream girl. Well, I had to know how this happened, so I asked him. He replied very casually, “Oh! Nothing extraordinary. I just went up to her and asked her out.” Well, it started with a friendship, the bond grew stronger, and it finally led to marriage. So, the moral of this little love story is that if you want something, you have to go and get it. It’s as simple as that. If we approach the dream customer in the same way we approach a love affair, we’ll find more loyal and engaged clients and customers than ever before. Because there is more than just closing a deal; there is mutual understanding and a business relationship that is based on trust.

Several years ago, when I had just begun my career as a life insurance agent, a good friend asked me how many clients I had who made more than I did. At that point, my answer was an emphatic “none.” We all want to do business with people who make more than us. They can write bigger checks, and what will keep them interested is our service, our enthusiasm, our creativity and our desire to be the best while serving them. A prospect who can write a big check is every life insurance agent’s dream. The biggest block of most efforts to prospect up is not lack of skill or opportunity; it is the lack of courage. We all have fears and doubts, but we cannot allow these negative emotions to define us. Let us always remember when a big-check prospect says yes, it is a big yes, as the prospect can write big checks. The objections to be handled are of a similar nature, but the opportunities are unlimited. The decision-making process that led to the sale is easier and quicker as the big-check prospect is already a decision maker in his or her own field of activity.

Fact-finding plays a very important role in winning over the high-net-worth individual (HNI). Just as in the above love story, Lucky got to know everything about his lady love, such as her hobbies, the places she visited and the things she liked. It is the same with an HNI client. We need to do a thorough fact-finding of the client, starting with availability, family details, health details, business details, hobbies, etc. So, you need to treat this like a love affair and pursue it with passion.

We can make Top of the Table a love affair when we come out of our comfort zone to move on to the next level. The challenge we face today is not to keep doing what we did, say, five years or 10 years ago. If we continue to do what we did five years ago, in the same style, manner and pace, we would probably achieve the same results we achieved five years ago. A change in activity brings a change in results. Change has to be incorporated into our lifestyle, along with what we know already works.

Do you have the fire in your belly to pursue the HNI client?

I must remind you that before you approach the HNI client, you must create your own brand image. You will agree with me that, in today’s competitive market, it is critical to stand out in the crowd. There are hundreds of life insurance products flooding the market every day. Buying life insurance is attached to a very strong emotion, and buying from a strong, established and reliable name helps people to be emotionally secure. These are some of the things I adopted to create my own brand image:

• Regular advertisements in the leading dailies: My advertisement has a permanent position above the obituary columns in the leading dailies in Nagpur. One important practice that helped build my business in the initial years was the regular activity of going through the obituary column of the local newspaper. I made it a point to attend the funeral and the third-day ceremony of the deceased. I later got in touch with the family members of the deceased person and volunteered my services to help get the death claim settled. This was done free of charge. It helped me make people understand the importance of life insurance and also to show the benefits of life insurance to them. These practices led to an increase in my business. I am servicing 25,000 policies free of charge.
• Roadside landscape: We have permission from the Nagpur Municipal Corporation to maintain the greenery along the road leading to our office. This not only gives us publicity but also spreads the message of keeping the city green and clean.
• Advertisement at the airport: My advertisements are also carried on billboards and road dividers. We maintain an eye-catching advertisement at the airport. I spend a total of Rs 12.00 lakhs ($1.2 million) on advertising every year, which includes advertisements in newspapers, on billboards, on road dividers, etc.
• Programs for children: We organize competitions and contests for the general public, our clients and their children. Our Children’s Day celebrations receive an overwhelming response. We also conduct Inter-School Drawing and Essay competitions on a regular basis.
• Birthday celebrations for children: Every two months, we organize a joint birthday celebration of all our clients’ children who celebrated their birthdays during those months. We have an entire team, headed by Babita, to plan the program well in advance at our office premises.
• Maintaining a traffic booth: Distribution of seeds and saplings at traffic signals during the monsoon seasons.

I quote Tony Gordon, who said, “Don’t stop doing what got you here in the first place. Change a little. Adapt. Try new ideas but they should be in addition to what you know already works.” — Tony Gordon, MDRT member, 40 years

Add a zero

One very important concept that I learned and applied in my daily activities while meeting an HNI client was “adding a zero,” suggested by Ben Feldman, a legend in our industry. Adding a zero meant to increase everything we do by a factor of 10 (multiplying every activity by 10), simply by adding a zero. I added a zero to almost every proposal. I started thinking 10 times bigger in everything. I started adding a zero to all my sales. Adding a zero meant living larger and doing more.

Today, I have been a life member of MDRT for 27 years, Court of the Table for 23 years and Top of the Table for 19 years. I currently service 43,000 policies.

There is neither magic nor a secret formula to success. Nobody achieves success in any field without hard work and discipline. In our business, all success and future rewards will come as a result of accepting prospect and client rejection as part and parcel of our daily lives. Success does not happen overnight. Success has to be practiced on a daily basis.

Another concept, recommended by Matthew Bonello, helped me to add a zero to every proposal I submitted. His catchphrase was “STP”:

• See the people: I met as many people as I could every day. I increased my prospecting activity considerably and reaped the fruits of high-level activity.
• Solve the problem: I was mentally prepared to face every kind of rejection or objection. If the client is given the choice between paying and not paying the premium, the client will not pay the premium. But if the client is given the choice between having a problem and not having a problem, he or she would definitely want to avoid the problem.
• Sell the policy: The sale of a policy gave me a thrill that really cannot be described in words. I wanted to experience this thrill every day. I got addicted to this thrill. I wanted to make it happen again and again. I just could not have enough of it.

“See the people, solve the problem, sell the policy.” I personalized this phrase. I pasted it wherever I could see it — in my office, on my desk, in my wallet, in my bedroom and even on the mirror in my bathroom.

Last, but not the least, I believe that learning is a great gift. This gift is not complete until it is passed on.

• In order to ensure that my learning is shared far and wide, I have written a book, “Adding More to Life,” in which I have narrated my learning process, along with simple and practical ideas that I adopted to reach the top. My book was selected by MDRT in 2012. We are also in the process of making it available online. MDRT has always been a source of motivation and inspiration. And this platform has given me the opportunity of learning and sharing my thoughts with the leading producers of the life insurance profession in this world.
• In 2016, I had the opportunity to share my learning and experience in the life insurance business at the Annual Meeting in Vancouver, where I made a presentation on “reinvent.”
• My programs and interviews have also been telecast on national television, such as CNBC and Zee TV.
• I gave a presentation at the Ageas Regional Leaders Forum at Colombo, Sri Lanka, September 3‒6, 2017.
• I was the speaker at Taiping Life, in China, at the Taiping Life Meeting April 9‒16, 2018, in Zhuhai, China.
• All my seminars, workshops and programs are available on CDs and YouTube.

In the past, we all have performed well; we have become the people that we deserve to be. Maybe we have achieved a certain career goal: the much-coveted Club membership, MDRT, Court of the Table and also Top of the Table. It is always a great thrill. But deep down in our hearts, we always want more. We want to discover where our greatest passion meets with our greatest abilities and harness them so that we can be on the top of the game at all times. Here, consistency becomes a key element. So it is not only about qualifying for Club membership, MDRT, Court of the Table or Top of the Table once, but qualifying for multiple MDRTs, Court of the Tables and Top of the Tables every year on a continuous basis.

Now that you have attended this wonderful meeting, I am sure you have picked up a few new ideas and feel motivated to go back home and use them. Don’t stop here. As the famous Nike tagline says, “Just do it.” Do you have a brilliant new idea? Execute it immediately. Do not let go of it. Try it; test it. Put it to work for one month or two, and then you will know whether it works or not. It is my sincere wish that all of you qualify not only for MDRT, Court of the Table and Top of the Table, but multiple MDRTs, Court of the Tables and Top of the Tables every year.

As we board our flights to go back home, motivated with excellent thoughts and ideas shared at this wonderful Annual Meeting, let us remember the five steps to Top of the Table:

1. Increase the client base — by 1,000.
2. Have support staff — money spent on the staff is an investment and not an expenditure.
3. Complete the target in shorter periods of time — repeat your performance in 10 months instead of 12.
4. Make Top of the Table a love affair.
5. Add a zero.

Last, but not the least, my life insurance profession has given me everything I ever wanted. It has enabled me to achieve my professional and personal goals and to contribute to society.

Bharat Vadilal Parekh is a 26-year MDRT member with four Court of the Table and 18 Top of the Table qualifications. He started his career as a life insurance agent at age 18, and years later was appointed as to the executive committee of Life Insurance Council in India. He has previously spoken at the MDRT Annual Meeting as well as the Ageas Agency Leaders Forum. He has been featured in Forbes magazine and on CNBC.