Errors and Ommissions

joshril · 04-02-2007, 11:44 AM

Before I finalize my contract with NAPA on E&O I wanted to see if anyone thought they had found a better deal.

My coverage:

$1,000,000 per occurance with $1000 deductible
Covers life, health, and variable (with $5000 ded.)-variable coverage not important right now..

$200 up front
$60/mo.

Let me know if you guys have found it any cheaper..

Thanks!!

Cenla Agent · 04-02-2007, 01:44 PM

Originally Posted by joshril

Before I finalize my contract with NAPA on E&O I wanted to see if anyone thought they had found a better deal.

My coverage:

$1,000,000 per occurance with $1000 deductible
Covers life, health, and variable (with $5000 ded.)-variable coverage not important right now..

$200 up front
$60/mo.

Let me know if you guys have found it any cheaper..

Thanks!!

I have seen it cheaper but also more expensive. What carriers you are contracted with can play a big role in what discounts you are offered. It also can depend on whether you are selling just life and health or if you also have a securities license.

Here is a place to check if you haven't already:

Cal-Surance-1-800-745-7189

Tell them what carriers you are contracted with and they will give you the best price based on that if they have discounts for any of them.

joshril · 04-02-2007, 09:56 PM

Yeah... I am securities licensed, but not currently marketing securities.. just life and health.. Cal-Surance was higher. If anyone can let me know if it's cheaper some else, I would be happy to find out.

Thanks!!

joshril · 04-02-2007, 09:57 PM

Yeah... I am securities licensed, but not currently marketing securities.. just life and health.. Cal-Surance was higher. If anyone can let me know if it's cheaper some else, I would be happy to find out.

Thanks!!

senior-advisor-indiana · 04-02-2007, 09:57 PM

I have heard NAPA is the cheapest. I haven't found any lower. It is only $35 per month for me. 1million coverage

Cenla Agent · 04-02-2007, 11:23 PM

For NAPA is that rate obtained by being contracted with any particular carrier or does it matter at all?

joshril · 04-02-2007, 11:24 PM

Originally Posted by senior-advisor-indiana

I have heard NAPA is the cheapest. I haven't found any lower. It is only $35 per month for me. 1million coverage

Do you know why it is so low? Is there a company you are affiliated with that caused you get suck a low rate?

Cenla Agent · 04-02-2007, 11:30 PM

Originally Posted by senior-advisor-indiana

I have heard NAPA is the cheapest. I haven't found any lower. It is only $35 per month for me. 1million coverage

What they quote on the website is much higher. 200 downpayment and 57.50 per month for 1M.

senior-advisor-indiana · 04-02-2007, 11:31 PM

I got it through great american. I only have a life and health license.

joshril · 04-03-2007, 10:35 AM

Can I appoint with Great American before I have the EO to get the discount.. I actually would like to get appointed with them

senior-advisor-indiana · 04-03-2007, 03:12 PM

Im not sure, ask ur marketer, they should know, if nnot i can find out for u

arnguy · 04-03-2007, 05:33 PM

NAPA is pretty cheap when you get through a carrier that they are afilliated with;e.g., Aflac, etc. Their so-called individual E&O coverage is much more expensive.

joshril · 04-03-2007, 10:58 PM

Originally Posted by senior-advisor-indiana

im not sure, ask ur marketer, they should know, if nnot i can find out for u

I don't really have a contact at Great American... if you don't mind, I could deginitely use the info..

If anyone knows any other companies that they are affilliated with let me know:

These are the companies I am currently appointed with:

AIG ANNUITY INSURANCE COMPANY11/29/2005AMERICAN NATIONAL LIFE INSURANCE COMPANY OF TEXAS04/20/2004GENWORTH LIFE INSURANCE COMPANY11/25/2005GOLDEN RULE INSURANCE COMPANY11/07/2006HARTFORD LIFE AND ANNUITY INSURANCE COMPANY11/30/2005HARTFORD LIFE INSURANCE COMPANY11/30/2005METROPOLITAN LIFE INSURANCE COMPANY10/21/2004PROTECTIVE LIFE INSURANCE COMPANY12/20/2004TIME INSURANCE COMPANY11/03/2006UNITED AMERICAN INSURANCE COMPANY02/01/2002UNITED INVESTORS LIFE INSURANCE COMPANY

senior-advisor-indiana · 04-04-2007, 06:47 AM

Plan Pricing:
This is an annual policy which renews each January 1st. Premiums are prorated monthly for enrollment purposes.[COLOR=#ff0000]

[COLOR=#ffffff]$1 Million/Claim
$1 Million Annual[/COLOR][COLOR=#ffffff]$1 Million/Claim
$2 Million Annual[/COLOR][COLOR=#ffffff]$2 Million/Claim
$2 Million Annual[/COLOR]Effective
Date[COLOR=#ffffff]Annual[/COLOR][COLOR=#ffffff]Down-Payment1[/COLOR][COLOR=#ffffff]Annual[/COLOR][COLOR=#ffffff]Down-Payment1[/COLOR][COLOR=#ffffff]Annual[/COLOR][COLOR=#ffffff]Down-Payment1[/COLOR]1/1/07$525.00 $135.17 $605.00 $141.84 $686.00 $148.59 2/1/07$483.33 $129.17 $556.67 $135.84 $630.92 $142.59 3/1/07$441.67 $123.17 $508.33 $129.84 $575.83 $136.59 4/1/07$400.00 $117.17 $460.00 $123.84 $520.75 $130.59 5/1/07$358.33 $111.17 $411.67 $117.84 $465.67 $124.59 6/1/07$316.37 $105.17 $363.33 $111.84 $410.58 $118.59 7/1/07$275.00 $99.17 $315.00 $105.84 $355.50 $112.59 8/1/07$233.33 $93.17 $266.67 $99.84 $300.42 $106.59 9/1/07$191.67 $87.17 $218.33 $93.84 $245.33 $100.59 10/1/07$150.00 n/a$170.00 n/a$190.25 n/a11/1/07$108.33 n/a$121.67 n/a$135.17 n/a12/1/07$66.67 n/a$73.33 n/a$80.08 n/a [COLOR=#ffffff]Monthly withdrawal
$38.17 [/COLOR][COLOR=#ffffff]Monthly withdrawal
$44.84[/COLOR][COLOR=#ffffff]Monthly withdrawal
$51.59 [/COLOR]

[/COLOR]Plan pricing includes pro-rata $72 annual NAPA membership dues, $25 administrative fee and $2.50 monthly processing fee for monthly payment options.

* Down-payment includes 1 months premium, administrative fee, prorated NAPA dues and $2.50 monthly processing fee. Down payments will be processed immediately. Future monthly payments are deducted in advance on the 1st of each month.

[COLOR=#ff0000][/COLOR]

Online Enrollment Options:

[COLOR=#000080][/COLOR]

senior-advisor-indiana · 04-04-2007, 06:49 AM

Sorry about that. the monthly fee is $38.17 per month with a pro rated down payment for membership. The fee is $117 if you sign up this month

senior-advisor-indiana · 04-04-2007, 06:51 AM

I don't know what companies they are affiliated with besides great american. I thought you said you wanted a contract with them anyway?

I think once you sign up for Great American you are elegible for that price. I don't know what info you want from me?

arnguy · 04-04-2007, 10:52 AM

I think a life company called Loyal American is also on NAPA's list.

senior-advisor-indiana · 04-04-2007, 11:44 AM

Loyal American is owned by Great american. They also own Continental General, Central Reserve, Provident american, and United teachers & assoc.

FL_Agent · 06-18-2008, 01:09 PM

NAPA - National Association of Professional Agents.

I've been using NAPA for 9 years and have never found better E&O rates or better service. It's also great because they offer independent agents products like group health that are actually affordable... plus they offer discounted CE courses.

arnguy · 06-18-2008, 06:37 PM

If you are contracted with Assurant, their E&O is relatively cheap. NAPA beats it only if you are contracted with one of the companies on their list----if not, NAPA is more expensive for the independent agent.