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Life & Health Guaranty Associations
Most states have guaranty funds to help pay the claims of
financially impaired insurance companies. State laws specify the lines of
insurance covered by these funds and the dollar limits payable. Coverage is
usually for individual policyholders and their beneficiaries and not for values
held in unallocated group contracts. Most states also restrict insurance agents
and companies from advertising the funds’ availability.
There are many issues, too numerous to describe here, which
determine the type and extent of coverage available. You are advised to consult
your state insurance department for details about any policy you consider
purchasing. Another source of information is the National Organization of Life
and Health Insurance Guaranty Associations (NOLHGA, 13873 Park Center Road,
Suite 329, Herndon, VA 22071). http://www.nolhga.com/factsandfigures/main.cfm/location/stateinfo
Liability Limits
To visit a particular state
insurance department's web site, click on the links provided in the table below.
State |
Max. aggregate benefits for all lines
of insurance
|
Max. death benefit with respect to
any one life
|
Max. liability for cash or withdrawal
value of life insurance policy
|
Max. liability for present value of
an annuity contract
|
State Guaranty Association Phone Numbers
|
|
Alabama
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(205) 879-2202
|
|
Alaska
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(907) 243-2311
|
|
Arizona
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(602) 364-3863
|
|
Arkansas
|
$300,000
|
$300,000
|
$300,000
|
$300,000
|
(501) 371-2776
|
|
California
|
80% not to exceed $250,000
|
80% not to exceed $250,000
|
80% not to exceed $100,000
|
80% not to exceed $100,000
|
(323) 782-0182
|
|
Colorado
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(303) 292-5022
|
|
Connecticut
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(860) 529-3495
|
|
Delaware
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(302) 456-3656
|
|
Dist. of Col.
|
$300,000
|
$300,000
|
$100,000
|
$300,000
|
(202) 434-8771
|
|
Florida
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(904) 398-3644
|
|
Georgia
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(770) 621-9835
|
|
Hawaii
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(808) 528-5400
|
|
Idaho
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(208) 378-9510
|
|
Illinois
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(773) 714-8050
|
|
Indiana
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(317) 636-8204
|
|
Iowa
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(515) 283-3163
|
|
Kansas
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(785) 271-1199
|
|
Kentucky
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(502) 895-5915
|
|
Louisiana
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(225) 381-0656
|
|
Maine
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(207) 633-1090
|
|
Maryland
|
$300,000
|
$300,000 |
$100,000 |
$100,000 |
(410) 998-3907
|
|
Massachusetts
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(413) 744-8483
|
|
Michigan
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(517) 372-3863
|
|
Minnesota
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(651) 407-3149
|
|
Mississippi
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(601) 981-0755
|
|
Missouri
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(573) 634-8455
|
|
Montana
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(262) 965-5761
|
|
Nebraska
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(402) 474-6900
|
|
Nevada
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(775) 329-8387
|
|
New Hampshire
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(603) 226-9114
|
|
New Jersey
|
$500,000
|
$500,000
|
$100,000
|
$100,000
|
(973) 623-3989
|
|
New Mexico
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(505) 237-9397
|
|
New York
|
$500,000
|
$500,000
|
$500,000
|
$500,000
|
(212) 909-6813
|
|
No. Carolina
|
$300,000
|
$300,000
|
$300,000
|
$300,000
|
(919) 833-6838
|
|
North Dakota
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(701) 235-4108
|
|
Ohio
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(614) 442-6601
|
|
Oklahoma
|
$300,000
|
$300,000
|
$100,000
|
$300,000
|
(405) 272-9221
|
|
Oregon
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(503) 588-1974
|
|
Pennsylvania
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(610) 975-0572
|
|
Puerto Rico
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(787) 765-2095
|
|
Rhode Island
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(401) 273-2921
|
|
So. Carolina
|
$300,000
|
$300,000
|
$300,000
|
$300,000
|
(803) 536-9874
|
|
South Dakota
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(605) 336-0177
|
|
Tennessee
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(615) 242-8758
|
|
Texas
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(512) 476-5101
|
|
Utah
|
$500,000
|
$500,000
|
$200,000
|
$200,000
|
(801) 572-1218
|
|
Vermont
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(802) 244-8540
|
|
Virginia
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(804) 282-2240
|
|
Washington
|
$500,000
|
$500,000
|
$500,000
|
$500,000
|
(425) 562-3128
|
|
West Virginia
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(304) 733-6904
|
|
Wisconsin
|
$300,000
|
$300,000
|
$300,000
|
$300,000
|
(608) 242-9473
|
|
Wyoming
|
$300,000
|
$300,000
|
$100,000
|
$100,000
|
(303) 292-5022
|
| Disclaimer:
AnnuityAdvantage.com is not to be held responsible for the accuracy of
this information. You are advised to call your state insurance
department prior to purchasing any annuity contract. |
|
