Med Supp E&O

[NCnatwidagent]

Is there such a thing as E&O strictly for Med Supplement sales?
Might be a dumb question, but I'm just trying to figure out what direction to go in.
Thanks!

 

[GreenSky]

Is there such a thing as E&O strictly for Med Supplement sales?
Might be a dumb question, but I'm just trying to figure out what direction to go in.
Thanks!

The cost is about $450 to cover most of what you'd do so why limit coverage to supps? Anyway I've never heard of specifically what you are looking for.

Rick

 

[NCnatwidagent]

Just to clarify my position. I'm a captive life & health agent. Got my Med Supp / LTC license a few months ago.
Now, i'm stalled. In order to sell med supps through my agency's selected carriers, my primary agent has to go through the appointment and certification process as well as me. In his words...."I aint doin that". I am under his E&O for life and health but if I get appointed with a Med Supp company without him, I need to have my own E&O.
Thats why I asked if there was a separate e&o for med supp.
Probably doesn't make sense to the independents out there but I'm trying to line myself up to go indy in the future.
Thanks!

 

[maalox]

Get appointed with Mutual of Omaha, they do not require E&O for selling Medicare Supplements. The other products require it but not Medicare Supplements.

 

[GreenSky]

Get appointed with Mutual of Omaha, they do not require E&O for selling Medicare Supplements. The other products require it but not Medicare Supplements.

And if he get sued does he ask you for defense and possible claims payment? Seriously, that's absolutely stupid advice.

Spend the damn $450 and get covered.

Rick

 

[NCAgent]

Just go get new L&H E&O insurance. NAPA I think has some good stuff as well as the National Ethics Bureau or whatever they are called.

Serves the dude right, now you have E&O to sell ALL L&H on your own BWA HA HA HA.

 

[JBlack1971]

Since your under him, are you allowed to go out on your own or can you get your own appointment? Also, do you have a non-compete contract with him?

Just to clarify my position. I'm a captive life & health agent. Got my Med Supp / LTC license a few months ago.
Now, i'm stalled. In order to sell med supps through my agency's selected carriers, my primary agent has to go through the appointment and certification process as well as me. In his words...."I aint doin that". I am under his E&O for life and health but if I get appointed with a Med Supp company without him, I need to have my own E&O.
Thats why I asked if there was a separate e&o for med supp.
Probably doesn't make sense to the independents out there but I'm trying to line myself up to go indy in the future.
Thanks!

 

[NCnatwidagent]

Since your under him, are you allowed to go out on your own or can you get your own appointment? Also, do you have a non-compete contract with him?

The only non-compete issue is with the life policys. I can only sell what is approved with the agency. Any other product (health, med supp, ltc etc) I can get my own appointment.
I think the best thing for me is to just get my own e&o policy to cover everything, then I'll be set with no worries.
Thanks for the responses!