Life and Health Guaranty Associations
David Novak
David Novak
Aug 22, 2016
11 min read
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 insurance 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 insurance coverage available. You are advised to consult your state insurance department for details about any insurance 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 states life insurance and health insurance guaranty association 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) 375-9151 |
| California | 80% not to exceed $300,000 | 80% not to exceed $300,000 | 80% not to exceed $100,000 | 80% not to exceed $250,000 | (323) 782-0182 |
| Colorado | $300,000 | $300,000 | $100,000 | $250,000 | (303) 292-5022 |
| Connecticut | $500,000 | $500,000 | $500,000 | $500,000 | (860) 647-1054 |
| Delaware | $300,000 | $300,000 | $100,000 | $250,000 | (302) 456-3656 |
| Dist. of Col. | $300,000 | $300,000 | $100,000 | $300,000 | (202) 434-8771 |
| Florida | $300,000 | $300,000 | $100,000 | $250,000 | (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 | $250,000 | (208) 378-9510 |
| Illinois | $300,000 | $300,000 | $100,000 | $250,000 | (773) 714-8050 |
| Indiana | $300,000 | $300,000 | $100,000 | $100,000 | (317) 636-8204 |
| Iowa | $300,000 | $300,000 | $100,000 | $250,000 | (515) 248-5712 |
| Kansas | $300,000 | $300,000 | $100,000 | $250,000 | (785) 271-1199 |
| Kentucky | $300,000 | $300,000 | $100,000 | $250,000 | (502) 895-5915 |
| Louisiana | $500,000 | $300,000 | $100,000 | $250,000 | (225) 381-0656 |
| Maine | $300,000 | $300,000 | $100,000 | $250,000 | (207) 633-1090 |
| Maryland | $300,000 | $300,000 | $100,000 | $250,000 | (410) 998-3907 |
| Massachusetts | $300,000 | $300,000 | $100,000 | $100,000 | (413) 744-8483 |
| Michigan | $300,000 | $300,000 | $100,000 | $250,000 | (517) 339-1755 |
| Minnesota | $500,000 | $500,000 | $130,000 | $250,000 | (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 | $250,000 | (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) 472-3734 |
| New Jersey | $500,000 | $500,000 | $100,000 | $100,000 | (732) 345-5200 |
| New Mexico | $300,000 | $300,000 | $100,000 | $100,000 | (505) 820-7355 |
| New York | $500,000 | $500,000 | $500,000 | $500,000 | (212) 202-4243 |
| 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 | $250,000 | (614) 442-6601 |
| Oklahoma | $300,000 | $300,000 | $100,000 | $300,000 | (405) 272-9221 |
| Oregon | $300,000 | $300,000 | $100,000 | $250,000 | (855) 378-9510 |
| 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 | $250,000 | (401) 273-2921 |
| So. Carolina | $300,000 | $300,000 | $300,000 | $300,000 | (803) 276-0271 |
| South Dakota | $300,000 | $300,000 | $100,000 | $100,000 | (605) 336-0177 |
| Tennessee | $300,000 | $300,000 | $100,000 | $250,000 | (615) 242-8758 |
| Texas | $300,000 | $300,000 | $100,000 | $250,000 | (512) 476-5101 |
| Utah | $500,000 | $500,000 | $200,000 | $200,000 | (801) 572-5067 |
| Vermont | $300,000 | $300,000 | $100,000 | $250,000 | (802) 249-0284 |
| Virginia | $350,000 | $300,000 | $100,000 | $250,000 | (804) 282-2240 |
| Washington | $500,000 | $500,000 | $500,000 | $500,000 | (360) 426-6744 |
| West Virginia | $300,000 | $300,000 | $100,000 | $250,000 | (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: AnnuityEducator.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. | |||||
