Idaho Life & Health Insurance Guaranty Association 4700 N. Cloverdale Road, Suite 204 / Boise, ID 83713-1068 Home About Us FAQs Additional Info Links Terms of Use Contact Us Frequently Asked Questions      What happens when my insurance company goes out of business? In most cases, the Association will continue coverage as long as premiums are paid or cash value exists. It may do this directly, or it may transfer the policy to another insurance company. In any case, policyholders should continue making premium payments to keep their coverage in force. Please note that the Association has the same rights and authority under your insurance contract as the issuing insurer. If the terms of your policy allow for cancellation, the Association may invoke such right, in accordance with the policy terms and in accordance with state laws.   NOTE: This information is not intended as legal advice, and no liability is assumed in connection with its use. The applicable state guaranty association statute is the controlling authority, regardless of any information presented on this site. Users should seek advice from a qualified attorney and should not rely on this compilation when considering any questions relating to guaranty association coverage.   [ Back to FAQ list ]