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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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What will happen to my insurance coverage if the guaranty association becomes liable for my policy?
Protection can be provided in one of several different ways. For example, a financially sound insurer may take over the troubled company's policies and assume the responsibility for continuing coverage and paying covered claims. Alternatively, the Association may provide coverage directly by continuing the insurer's policies; in some situations, the Association may work with other state guaranty associations to develop an alternative plan to provide protection for the failed insurer's policyholders. The amount of protection provided and when you receive it may depend on the particular arrangement worked out for handling the failed insurer's obligations.
Please remember, for cancelable group or individual health/disability insurance policies, state law requires the Association to continue your coverage only for a limited time based on state insurance laws and the renewal date of your policy. |
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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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