E&O Annual Processing Fee.. A Common Rip-Off?

[senior-advisor-indiana]

Calsurance charge $460

Does that cover fixed annuities?

 

[arnguy]

It's not a rip off....it's called free enterprise. Hey, they have every right to make money!

 

[GoCubsGo]

It's not a rip off....it's called free enterprise. Hey, they have every right to make money!

Then there is no such thing as a rip off.

 

[senior-advisor-indiana]

All insurance is a rip off!!

 

[redsquash]

No.
You can add Fixed Annuities, I think, for $50 extra.

Does that cover fixed annuities?

 

[GreenSky]

I've been insured through a program sponsored by Anthem. Costs $460/yr and includes any product that can be written using a L&H license. Best plan I've seen anywhere.

Apparently the plan/price is avaiable through various carriers.

I believe Mark Rosenthal has a $440 price but it doesn't include annuity coverage without an endorsement. While I haven't written an annuity in 3 years, I wouldn't want to take a chance of having one "fall into my lap" without coverage.

Rick

 

[AverageJoe]

so eandoforless.com is legitimate?

im in florida, new P&C agent/agency NOT LH, no experience (i know thats a big factor) looking for a e&O policy with 1,000,000/1,000,000. have a quote, but shopping around for others to be sure of best deal

any one have ideas where else i can look?

 

[AllenChicago]

I've been with NAPA for the past two years now and I can't find a cheaper rate that provides the coverages I need. Their base rate is $475 which includes Life, Accident, Health, LTC & Disability and Medicare Advantage and Med Supps. I think the next best rate is E&O for less which is $495 and doesn't include disability ($50 extra) or Med advantage and Med Supps. I don't even think they offer coverage for Med advantange/med supps, Do they?

Thanks to everyone for your feedback to my question. I went ahead and re-enrolled in NAPA once again. The $475 annual rate seemed to be the best, even with the up-front processing fee. It was very simple to just check the 2 boxes stating that nothing has changed since the Jan2011 re-enrollment and then print out the certificate of coverage a few hours later after the re-enrollment was approved. Happy and prosperous 2012 to all! -AC

 

[tins]

so eandoforless.com is legitimate?

im in florida, new P&C agent/agency NOT LH, no experience (i know thats a big factor) looking for a e&O policy with 1,000,000/1,000,000. have a quote, but shopping around for others to be sure of best deal

any one have ideas where else i can look?

I use them. No problems. Every carrier I've contracted with has accepted it.