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Cost Considerations and Potential Savings
The cost of fiduciary insurance can vary significantly based on several factors, including the size of the plan, the number of participants, and the level of coverage required. Generally, premiums are calculated as a percentage of the total plan assets, with typical rates ranging from 0.5% to 1% annually3. However, by following the options available through various online platforms, you can find competitive rates and even potential discounts for bundling policies or maintaining a clean claims history. This proactive approach not only ensures comprehensive coverage but also optimizes your financial outlay.