LOW-COST E&O + NO MEMBERSHIP FEE + TOP INSURER
Discounted E&O Insurance
Applications are being accepted now. Starts at $319/year.
HIGHLIGHTS OF THE E&O INSURANCE FOR AGENTS (Includes MedAdvantage)
As a benefit to insurance agents — especially those who market Medicare Supplement insurance policies, the American Association for Medicare Supplement Insurance (AAMSI) makes available access to Errors and Omissions (E&O) Liability insurance. You enjoy benefits available from a group policy offered to the Associations we operate.
BEST OF ALL, there are NO ‘membership’ fees (AAMSI does not have “membership fees”. And, you can enroll in this group plan at anytime. Your coverage will be good for 1 year.
The issuing carrier is Fireman’s Fund Insurance Company (an Allianz Company) that’s rated A+ (Superior) by A.M. Best.
All agents can apply. Rates for established agents start at $319 annually.
Discounts are available for newly licensed agents.
Save big if you are a new agent – selling 2 years or less.
Please check with your contracted insurance carriers on what limit of liability is needed to maintain your contract. Some carriers may not accept the 500k/500k limit.
ENROLL ONLINE – IT TAKES 5 MINUTES OR LESS + PRINT YOUR E&O COVERAGE CERTIFICATE
Click here now to get details, costs and enroll.
There are five (5) levels of coverage – depending on the products you market/sell.
Level I (one) covers agents who sell Final Expense, Mortgage Life and Medicare Supplement insurance. It ALSO includes Medicare Advantage.
Level II (two) adds coverage for individual health, group accident and health plans.
You choose the Limits of Liability that range from $500,000 per claim / $500,000 aggregate each agent up to $2,000,000 / $2,000,000.
Personal Data Compromise (Cyber) Extension coverage is included. Defense costs do NOT erode your coverage limits.
You can enroll online – generally it takes 5 minutes (or less).
Coverage can be instantaneous (following payment).
You can pay in installments … or … annually. Pay by credit card or check.
There are dedicated support personnel to answer questions and provide assistance.
ENROLL ONLINE – IT TAKES 5 MINUTES OR LESS + PRINT YOUR E&O COVERAGE CERTIFICATE
Click here now to get details, costs and enroll.
WHY AGENTS WHO SELL MEDICARE SUPPLEMENT NEED E&O
Oversights and mistakes can occur while selling any insurance product regardless of the type or premium of the product you are selling. This also includes Medicare Supplement Insurance products. While E&O lawsuits specific to Medicare Supplemental products are rare, they have occurred according to the E&O experts working with our Association. The defense and indemnification costs associated with correcting the mistake can be substantial.
Additionally, if you are selling other insurance products those insurance carriers may have a contractual requirement for you to carrier E&O insurance. The AAMSI E&O offering provides a multi-tierd E&O program that allows you to purchase the coverage and limits to meet your specific business needs.
THINGS TO KNOW
This E&O coverage is made available to agents through a separate, non-affiliated organization. The Association reminds you that, as with all policies, it is important to read everything carefully and to maintain copies and records.
AVOID A LAPSE IN COVERAGE. It is vital that you avoid a lapse in E&O coverage. Simply stated, if you currently have a different E&O policy, you want to make sure you have continuous coverage … even better have a little overlap.
Ready to see costs and enroll? Click here now.
Click the link above to enroll online — read the Specimen Policy – Print out an enrollment packet – or connect with our E&O Experts for support.
The group E&O policy is available to members of the American Association for Long-Term Care Insurance ($98 annual membership fee), via the American Association for Medicare Supplement (NO membership fee required) as well as the American Association for Critical Illness (NO membership fee required).
The information above is a general overview of the pertinent information. Please read the Specimen Policy and all information online for complete details