wildfire
New Member
- 3
What health, life, etc. plans can I sell in CA without E&O insurance? I'm signing with Assurant and Pacific Care, is there anyone else. Thanks
No E&O, what can I sell?
- Thread starter wildfire
- Start date
What health, life, etc. plans can I sell in CA without E&O insurance? I'm signing with Assurant and Pacific Care, is there anyone else. Thanks
- 1,328
Why not pony up $500 and get some E&O?? Some carriers even have monthly options around $50....
You're crazy to operate without E&O
You're crazy to operate without E&O
- 15,319
Thanks
I always worry about someone who wants to sell insurance with E&O. It's our ONLY overhead cost and it's $460 a year in California. If you can't afford $40 per month to be in a career, you should be an employee.
The correct answer is YOU CAN'T SELL ANYTHING WITHOUT BEING RESPONSIBLE ENOUGH TO BUY E&O.
I'm getting off my high horse now. Continue talking amongst yourselves.
Rick
- 868
You can sell any plan that wil permit you to sell without Errors and Omissions. However I would not sell until you have insurance as the liability is on you and protects you. Woithout insurance u are naked in the face of a complaint or a possible settlement. About the only thing I would reconnend selling with it would be dental discount plans and plans for which you dont need an insurance license like PPO repricing plans but thats it
- 1,328
Discount plan sales agents are pretty reputable...
- 1,070
u said assurant your getting with? they offer e&o, just take it. make it easy on yourself
- 3,384
Two things:
Assurant is not competitive in California, so you will get killed on price point for their products. Get on with Anthem Blue Cross, Blue Shield, Health Net and Aetna ASAP. Both Blues have E&O coverage for $460 a year for appointed agents and you can make monthly payments.
Did you actually read the contract you signed with UHC (PacifiCare)? It has NO VESTING at all. It is a garbage contract and many agents in CA won't sign it. UHC owns all of your clients. They can take them back at ANY TIME and if you die, retire or quit, they pull all of them and cut you off financially. All other carriers allow you to maintain you own clients and can name beneficiary in the event you pass away. You can also retire, sell your business or rest on your laurels without having to maintain licensing. UHC will grab them the minute your license goes out of force.
Not that I have anything against UHC (blows)...;-)
Assurant is not competitive in California, so you will get killed on price point for their products. Get on with Anthem Blue Cross, Blue Shield, Health Net and Aetna ASAP. Both Blues have E&O coverage for $460 a year for appointed agents and you can make monthly payments.
Did you actually read the contract you signed with UHC (PacifiCare)? It has NO VESTING at all. It is a garbage contract and many agents in CA won't sign it. UHC owns all of your clients. They can take them back at ANY TIME and if you die, retire or quit, they pull all of them and cut you off financially. All other carriers allow you to maintain you own clients and can name beneficiary in the event you pass away. You can also retire, sell your business or rest on your laurels without having to maintain licensing. UHC will grab them the minute your license goes out of force.
Not that I have anything against UHC (blows)...;-)
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- 3,384
BTW I used to have a contract with PacifiCare, but for some reason they won't honor it anymore and want me to sign an new one (with UHC)
If you even talk to a client without having an E&O policy, that would be very foolish. If, for example, a client sues you because they were led to believe that you provided coverage for a particular hazard, what happens if you can't prove you told them they would not have it? If you give them a brochure with your name on it that references that coverage but later they tell you they don't want it and you don't get a signed and executed change form stating that when you set them up, they'll be in court with tears in their eyes pointing to you as a snake oil salesman.
You could be ruined financially for life. It's not worth it over $500. If you don't have the money, don't sell insurance or find an agency that will provide it for you.
You could be ruined financially for life. It's not worth it over $500. If you don't have the money, don't sell insurance or find an agency that will provide it for you.
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