Q. Will I lose all the benefits if my life insurance company goes bankrupt?
A. If you purchased a life insurance product such as a Term life or an annuity from an insurer, you are protected by your state's State Guaranty Association, in the unlikely even that the insurer has financial trouble.
State Guaranty Associations are created by state law to assure that the claims of an insolvent insurance company's policyholders will be paid, subject to the limits of the law.
Life insurance is a highly regulated industry, all insurers authorized to write life insurance, health insurance, and annuities in the state are required to be members of the association.
A. If you purchased a life insurance product such as a Term life or an annuity from an insurer, you are protected by your state's State Guaranty Association, in the unlikely even that the insurer has financial trouble.
State Guaranty Associations are created by state law to assure that the claims of an insolvent insurance company's policyholders will be paid, subject to the limits of the law.
Life insurance is a highly regulated industry, all insurers authorized to write life insurance, health insurance, and annuities in the state are required to be members of the association.
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