(844) 589-9732

South Dakota Discount Medical Plan Bond

January 13, 2020

The South Dakota discount medical plan bond is a minimum $35,000 surety bond. Our agency offers you quick, streamlined processing of this surety requirement up to $50,000. Please call AmeriPro Surety Bonds at 844-589-9732.

South Dakota Discount Medical Plan Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

South Dakota Discount Medical Plan Licensing

 

 

 

South Dakota’s Division of Insurance licenses and regulates discount medical plan companies in the state. A condition of licensing is that you obtain a surety bond of at least $35,000.

 

 

 

Qualifying and the Premium

 

 

 

For any applicants who require, up to and including, a $50,000 surety bond amount, our agency offers you the South Dakota discount medical plan bond with streamlined processing.

What this means for you is that up to a $50,000 surety bond amount, there is no credit check, and the annual premium is just 1% of the amount required.

When you call us, we’ll ask you the following:

  • Your NAIC number;
  • The name, exactly as it should appear on your bond;
  • Contact information --- including your address, phone number and email

After this, you’ll pay the premium. The $35,000 surety bond will have a $350 annual premium; other amounts will be at 1% of the surety bond amount required. Upon payment of the premium, our agency will issue you your bond have it notarized as Surety.

When you receive it in the mail, you’ll sign it as Principal and have it notarized as an individual, a partnership, an LLC, or a corporation.

Your completed surety bond will be filed to:

South Dakota Division of Insurance

445 East Capitol Avenue

Pierre, South Dakota 57501

Applicants who require a surety bond greater than $50,000 will need to complete an application and undergo a credit review by an underwriter.  Good credit will be required for approval; the rate remains at 1%.

 

 

 

Premium Prepayment Options

 

 

 

If you expect your bond amount requirement to remain the same for at least 2 years, our agency offers you the ability to prepay your premium up to 3 years. Prepayment of the premium saves you over annual renewals, besides lengthening the time between renewals.

The premium prepayment option and savings are as follows for a $35,000 surety bond amount:

  • If prepaid for 2 years, the premium is $630, a $70 savings;
  • If prepaid for 3 years, the premium is $910, a $140 savings.

 

 

 

Purpose of Your Surety Requirement

 

 

 

Your bond is a financial guarantee that you will conduct your business operations according to the SDCL 58-17C as amended.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds required in South Dakota and all 50 states.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and a Surety Agent will contact you...

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