Benefits of E&O Insurance

Benefits of E&O Insurance

e&o insurance for life insurance agents

In the insurance industry, clients rely on your information and your coverage options. With life insurance, if you make an error or if someone believes that you offered bad advice, you could suffer a lawsuit. This is why it’s crucial to have E&O insurance for life insurance agents.

Quick Access to Legal Advice

If a client sues you, what do you do? A lot of businesses aren’t sure what to do next. As an insurance agent, you may not have all of the legal information necessary to fight the client or to know what your next steps should be.

Financial Certainty and Asset Preservation

When you purchase E&O coverage, you have security. If you’re sued, this can be a large financial hit and as unpredictable as lawsuits are, you may not have the finances to cover the costs. It’s easier to pay for coverage than to pay a settlement or legal fees. In addition, you preserve your assets. To be taken to court is a risk to all of your assets and your finances.

As someone who offers life insurance to clients, you have a crucial job that may impact people’s finances. Whenever you work in the life insurance business, there is risk and room for error. It’s important that you have E&O insurance for life insurance agents.