Three New Options for 2021 Premium Payment

KAMMCO is proud to announce it will be offering members three premium payment options beginning with policies renewing on January 1, 2021.

1. Pay In Full Premium Credit. KAMMCO has filed for approval to offer a 1% premium credit for members who pay their policy premium in full. Nothing is required to take advantage of this offer. This credit is pending approval from the Kansas and Missouri Insurance Departments.
2. Financed Premium Option. KAMMCO continues to partner with Fidelity State Bank & Trust Company to offer a premium finance plan for basic malpractice insurance purchased from KAMMCO. This plan provides for 100 percent financing of the malpractice insurance premium to be paid in nine monthly installment payments. The interest rate for this program is fixed for the 9-month term at the New York Prime Rate as of November 1, each year or the date the finance premium acceptance form is received, whichever is later, plus 1 percent with a minimum interest rate of 4.75%. To be eligible for this financing, your annual premium must be in excess of $4,500.00. This option will also qualify you for the Pay in Full Premium Credit – if approved by the Kansas and Missouri Insurance Departments.
3. KAMMCO Installment Option. KAMMCO will accept quarterly installment payments for KAMMCO premiums. Members will be required to pay for the Health Care Stabilization Fund Surcharge and Cyber Security Premium in full in the first installment, along with 25% of the KAMMCO premium due on the policy effective date. The remaining 75% of the KAMMCO premium will be billed quarterly in three installments beginning three months from the date of policy inception.