E & O for S Corp - Does It Cost More?

[Nikita]

Does anyone know if you pay more to get E & O (life and health license) if you switch from a sole proprietor to a S Corp?

 

[DHK]

If you run an S-Corp that is properly licensed... it is still run by an individual.

I've never seen E&O quoted for a "corporation".

What Mitt Romney said is true: "Corporations are people."

 

[Newby]

Does anyone know if you pay more to get E & O (life and health license) if you switch from a sole proprietor to a S Corp?

Your licensing will be much higher but you just need E&O on the individuals.

If you are in many states the licensing is pretty steep as a corp compared to individual agent though.

 

[GoPokes]

I had to get a separate license for the S corp, cost $105 I believe ( I just did it a few months ago). I was able to keep the e&o that I had as a sole proprietor, so the answer is no it does not cost more, thankfully.

 

[sman]

Does anyone know if you pay more to get E & O (life and health license) if you switch from a sole proprietor to a S Corp?

Mine doesn't cost more. Some carriers will require your agency to be listed on the E&O certificate as well as your name so make sure your current E&O carrier will do that.