Illinois Mutual Agent E&O Insurance Program
E&O Insurance (Errors and Omissions Insurance) is professional liability insurance that protects professional insurance agents from claims arising from the sale and servicing of insurance products. Illinois Mutual has a long term commitment to "Best Practices" and providing an E&O program with coverage tailored to the Illinois Mutual representative reinforces that commitment.
Illinois Mutual Agent E&O Plan Highlights:
- $1M/$1M
- Deductibles: $500 I.M. products; $2500 outside products
- Coverage for the sale and servicing of Illinois Mutual products
- Coverage for the sale and servicing of L&H products, fixed and indexed annuities, with optional coverage for mutual funds and variable products
- Covers individual agent and administrative support
- Prior Acts to the first date of continuous E&O
- Monthly payment options available
- Limited underwriting
- Online enrollment
Illinois Mutual Agent E&O Plan Rates:
$0 - $100,000 Net Income |
|||
|---|---|---|---|
| COVERAGE: | ANNUAL | DOWN PAYMENT | MONTHLY |
| Life, Health, Fixed/Indexed, LTC & DI | $545.00 | $123.75 | $43.75 |
| Life, Health, Fixed/Indexed, LTC, DI PLUS mutual funds and variable products | $775.00 | $156.67 | $61.67 |
$100,000 - $300,000 Net Income |
|||
|---|---|---|---|
| COVERAGE: | ANNUAL | DOWN PAYMENT | MONTHLY |
| Life, Health, Fixed/Indexed, LTC & DI | $725.00 | $147.92 | $57.92 |
| Life, Health, Fixed/Indexed, LTC, DI PLUS mutual funds and variable products | $1,010.00 | $185.42 | $80.42 |
Monthly payment options include a $5.00 per month processing fee.
Net Agent Income: Based on your agency's net commissions and fee income from all carriers for the previous 12 months; that is, commissions retained by your agency after payment of commissions to individual sub-producers writing on behalf of your agency.
