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Idaho Life & Health Insurance Guaranty Association
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4700 N. Cloverdale Road, Suite 204 / Boise, ID 83713-1068 |
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Frequently Asked Questions  |
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For example, if I own three annuities worth $100,000 each and my insurance company fails, how much is protected?
The total protection per owner per insolvent member company is $300,000. As a result, if an individual owned four $100,000 annuities with the same insolvent insurance company, the individual would have total guaranty association coverage of only $300,000.
The value in excess of statutory coverage limits would be eligible for submission as a claim in the receivership/liquidation, and the annuity holder may be eligible to receive distributions as the company's assets are liquidated by the receiver. |
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| 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. |
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