1M/1M for 400 annual? That sounds like a good deal. is that just through the rest of this year?
No, Damont, that is a legitimate annual rate available to members of the IHIAA (although it's really $440 because of a $40 policy fee). The only downside to this plan is that you must use A- or better rated carriers (not an issue for you).
Unfortunately, I would not advise this route for someone looking for a simple and easy E&O solution.
To make it more user friendly you might have the telephone number posted for the one who will handle the enrollment process. That way it will be much easier to have an agent who is ready to spend money and is willing to go through ihiaa organization as a new subscriber and to enroll in this E&O policy on the right foot.
In my case , it took so long that I went ahead and doublechecked my current carrier to be sure it excluded other Insurors I contract with (after initial enrollment) . Upon calling to double - check my current E&O coverage, I discovered there are no restrictions in who I write new business with.
Even though I might pay more and might have less convenient pay plan , I would much rather stay status quo at this time, instead of relive the difficult subscribing, confirming and looking for the E&O product I was after when I gave this a try.
Even when calling the Company providing coverage , the right number to the right person was not immediately forthcoming.
It is my fault it took hours to accomplish all this, but admitting that doesn't create a favorable impression here.
Surely all the other seekers are getting what they need effortlessly, speedily and joyfully and I am just too slow to catch up quick enough.
I want to make an addendum to my earlier
Post here.
The one who offered this is easy to work with.
I spoke to him today and did not mention I would
Do this but
He seems very honest. When I get ready to
Do business with his association I am sure I will
Be signing up with him.
It is not easy to promote things for other people
And run your own business and keep up with
Committments. It is very important to know
Who keeps their word. IHIAA did keep word for me and I
Appreciate it in spite of earlier post sounding contrary.
NAPA is dirt cheap if you sign up with them through a sposored company such as AFLAC. I think it was $25/month through the duck. I believe they do show their regular rates for unsponsored coverage on their website.
I have an agent that got hers through E and O Coverage of America and I think it was around $430/year. For some reason all of the MA plans have started wanting e&o coverage and this seems like the best deal without having restrictions on things. Most of my brokers only represent senior products such as Medicare Advantage and Med Supps and none of the plans seem to have a problem with it. As long as you're doing your job right, at least with senior products, you should never need to have e&o anyway.
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