The Guarantee Insurance Fund
What happens if my carrier is in financial troubles?
Learning that your life or health insurance company is in trouble can be frightening, but policyholders should take comfort in knowing that state guaranty associations are there to provide protection and continuing coverage. The guaranty system safety net helps keep the promises of the insurance industry, even when companies fail.
Since NOLHGA was created in 1983, state guaranty associations have:
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Provided protection to more than 2.3 million policyholders in more than 100 multi-state insolvencies
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Guaranteed more than $21.2 billion in coverage benefits
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Contributed $5.2 billion to ensure that policyholders received their benefits
Coverage is coordinated on a state-by-state basis, so policyholders should contact their state’s association with any questions or concerns. The chart below will take you to your state association’s Web site. If your state association does not have a Web site, click on the “Ask a Pro” link above and use the menu there to obtain contact information for the association and ask questions.
If you would like to learn more about how the guaranty system safety net operates, please click on your state below.
Please note that NOLHGA’s member associations cover life and health insurance only. States also have guaranty funds for property and casualty insurance, and their national organization is the National Conference of Insurance Guaranty Funds.
State Insurance Fund
(Click on your state for more details)
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To help avoid insurance companies that may end up in financial troubles, we strongly recommend that you select higher rated companies. See about insurance ratings.
