Guaranty Funds and Guarantee Associations
What happens when an insurance company is declared insolvent? The mechanism which protects policyholders is called the "State Guaranty Fund" or Guarantee Association system. All fifty states and the District of Columbia operate guaranty funds which may pay the claim of a financially-impaired company that operates in their state. You are strongly advised to contact your state association to obtain current information for your specific financial situation. This web site is not to be held responsible for the accuracy of the information in this table. A good source for further information about the state guaranty funds is the National Organization of Life and Health Insurance Guaranty Associations (www.nolhga.com).
Important Disclaimer --- Insurance companies and insurance agents are prohibited by law from using the existence of the state guaranty associations as an inducement to sell you insurance or annuities. The guaranty funds should not be a substitute for selecting an insurance company which is well-managed and financially stable.
Estimated Coverage Offered by the State Guaranty Associations
| State | Estimated coverage for an annuity | Guaranty association phone number | |||
|---|---|---|---|---|---|
| Alabama | $300,000 in annuity benefits; $100,000 in net cash surrender value | (205) 879-2202 | |||
| Alaska | $100,000 in the present value of annuity benefits | (907) 243-2311 | |||
| Arizona | $100,000 | (602) 364-3863 | |||
| Arkansas | $300,000 in present value annuity benefits | (501) 375-9151 | |||
| California | Present value of annuity benefits including net cash surrender and net cash withdrawal values: 80% of the present value up to a maximum of $100,000 | (323) 782-0182 | |||
| Colorado | $100,000 in present value of annuity benefits, including net cash surrender and net cash withdrawal values | (303) 292-5022 | |||
| Connecticut | $500,000 in present value of annuity benefits | (860) 647-1054 | |||
| Delaware | $100,000 in present value of annuity benefits | (302) 456-3656 | |||
| Dist. of Col. | $300,000 in present value of annuity benefits | (202) 434-8771 | |||
| Florida | $300,000 in annuity benefits; $100,000 in net cash surrender value | (904) 398-3644 | |||
| Georgia | $300,000 in present value of annuity benefits; $100,000 in net cash surrender | (770) 621-9835 | |||
| Hawaii | $100,000 in the present value of annuity benefits | (808) 528-5400 | |||
| Idaho | $250,000 in net cash surrender or net cash withdrawal values | (208) 378-9510 | |||
| Illinois | $100,000 in present value of the annuity benefits per annuitant, including net cash surrender and withdrawal values | (773) 714-8050 | |||
| Indiana | $100,000 in present value of annuity benefits | (317) 692-0574 | |||
| Iowa | $250,000 in present value of annuity benefits, including net cash surrender and net cash withdrawal values | (515) 248-5712 | |||
| Kansas | $100,000 in present value of annuity benefits | (785) 271-1199 | |||
| Kentucky | $100,000 in the present value of annuity benefits including net cash surrender and net cash withdrawal values | (502) 895-5915 | |||
| Louisiana | $250,000 in present value of annuity benefits | (225) 381-0656 | |||
| Maine | $250,000 of annuity benefits, including net cash surrender and net cash withdrawal values | (207) 633-1090 | |||
| Maryland | $100,000 in present value of annuity benefits, including net cash surrender and net cash withdrawal values | (410) 998-3907 | |||
| Massachusetts | $100,000 in present value of annuity benefits | (413) 744-8483 | |||
| Michigan | $250,000 in present value of individual qualified retirement annuities (issued under section 403(b), 408, or 408A of the Internal Revenue Code), and $100,000 in present value of all other annuities | (517) 339-1755 | |||
| Minnesota | $250,000 net cash surrender value; $410,000 in present value if with a period certain benefit of at least ten years to life | (651) 296-6848 | |||
| Mississippi | $100,000 in present value of annuity benefits | (601) 981-0755 | |||
| Missouri | $100,000 in present value of annuity benefits | (573) 634-8455 | |||
| Montana | $100,000 in present value of annuity benefits | (262) 965-5761 | |||
| Nebraska | $100,000 in present value of annuity benefits | (402) 474-6900 | |||
| Nevada | $100,000 in present value of annuity benefits | (775) 329-8387 | |||
| New Hampshire | $100,000 in present value of annuity benefits | (603) 226-9114 | |||
| New Jersey | $500,000 in present value of annuity benefits; $100,000 in net cash surrender | (973) 623-3989 | |||
| New Mexico | $100,000 in cash or cash surrender value | (505) 820-7355 | |||
| New York | $500,000 in present value of annuity benefits | (212)202-4243 | |||
| No. Carolina | $300,000 in present value of annuity benefits | (877) 833-6831 | |||
| North Dakota | $100,000 in present value of annuity benefits | (701) 235-4108 | |||
| Ohio | $100,000 in present value of annuity benefits | (614) 442-6601 | |||
| Oklahoma | $300,000 in present value of annuity benefits | (405) 272-9221 | |||
| Oregon | $100,000 in present value of annuity benefits | (503) 588-1974 | |||
| Pennsylvania | $300,000 in annuity benefits, including $100,000 in net cash values | (610) 975-0572 | |||
| Rhode Island | $100,000 in present value of annuity benefits | (401) 273-2921 | |||
| So. Carolina | Aggregate of $300,000 | (803) 276-0271 | |||
| South Dakota | $100,000 in present value of annuity benefits per contract owner | (605) 336-0177 | |||
| Tennessee | $250,000 in present value of annuity benefits | (615) 242-8758 | |||
| Texas | $100,000 per insured life (per annuitant) | (512) 476-5101 | |||
| Utah | $200,000 in present value of annuity benefits | (801) 572-1218 | |||
| Vermont | $250,000 in present value of annuity benefits | (802) 244-8540 | |||
| Virginia | $100,000 in present value of annuity benefits | (804) 282-2240 | |||
| Washington | $500,000 in present value of annuity benefits | (360) 426-6744 | |||
| West Virginia | $100,000 in present value of annuity benefits | (304) 733-6904 | |||
| Wisconsin | $300,000 in present value of annuity benefits | (608) 242-9473 | |||
| Wyoming | $100,000 in present value of annuity benefits, including net cash surrender and net cash withdrawal values | (303) 292-5022 | |||
