Financial Daily from THE HINDU group of publications
Friday, Apr 30, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 30, 2004 |
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Money & Banking
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Life Insurance `Million dollar' agents: MNYL hopeful of visas Our Bureau
Coimbatore , April 27 THOUGH rumours are rife about a possible restriction in issuance of visa for the Million Dollar Round Table (MDRT) agents to attend the annual convention in the US in June this year, Max New York Life is confident of its qualifying agents making it to the convention. The company has built an agency force of over 5,500 within three years of operating in India. Of these, over a hundred are said to qualify for the MDRT this year, company sources say.
Meanwhile, a top insurance agent who has been attending the convention for the last seven years told Business Line that the restriction in the issuance of visa by the US embassy was not new. "It has always been a problem. It took a turn for the worse after 9/11. First timers are targeted as the US embassy fears that they might prefer to stay back in the US." The US embassy, it is reliably learnt, while asking the MDRT to give a guarantee that the qualifying agent attending the convention return to their hometown, rejects the visa application without rhyme or reason. "They have a right to do so. If the application is rejected twice, then the agent cannot apply," said this agent, who preferred to remain anonymous. Though thousands of agents qualify for the MDRT, less than 100 attend the convention every year. "Apart from visa restriction, it is costly." The 5-day convention is slated for June at California. According to industry insiders, the issue is not peculiar to India, but every other country in the Asia-Pacific region barring Singapore.
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