Source: https://www.nolhga.com/factsandfigures/main.cfm/location/lawdetail/docid/8
Timestamp: 2019-04-20 05:05:51+00:00

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§20-682 E. The benefits that the fund becomes or may become obligated to cover shall not exceed the lesser of: 1. The contractual obligations for which the impaired insurer or insolvent insurer is liable or would have been liable if it were not an impaired insurer or insolvent insurer. 2. With respect to one life, regardless of the number of policies or contracts: (a) three hundred thousand dollars in life insurance death benefits, but not more than one hundred thousand dollars in net cash surrender and net cash withdrawal values for life insurance. (b) in disability insurance benefits: (i) one hundred thousand dollars for coverages not defined as disability income insurance or basic hospital, medical and surgical insurance or major medical insurance or long-term care insurance. (ii) three hundred thousand dollars for disability income insurance and three hundred thousand dollars for long-term care insurance. (iii) five hundred thousand dollars for basic hospital medical and surgical insurance or major medical insurance. (c) two hundred fifty thousand dollars in the present value of annuity benefits, including net cash surrender and net cash withdrawal values. 3. With respect to each payee of a structured settlement annuity, or the beneficiary of a deceased payee, an aggregate of two hundred fifty thousand dollars in present value annuity benefits, including net cash surrender and net cash withdrawal values, if any. F. Notwithstanding subsection E of this section, the fund is not obligated to cover more than either: 1. An aggregate of three hundred thousand dollars in benefits with respect to any one individual under subsection E of this section except with respect to benefits for basic hospital, medical and surgical insurance and major medical insurance under subsection E, paragraph 2, subdivision (b) of this section, in which case the aggregate liability of the fund shall not exceed five hundred thousand dollars with respect to any one individual. 2. With respect to one owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation or other person, and whether the persons insured are officers, managers, employees or other persons, more than five million dollars in benefits, regardless of the number of policies and contracts held by the owner. (Amended effective 9/12/13).
§23-96-114 A. The benefits that the Association may become obligated to cover shall in no event exceed the lesser of: (1) The contractual obligations for which the insurer is liable or would have been liable if it were not an impaired or insolvent insurer; or (2)(a) With respect to any one (1) life, regardless of the number of policies or contracts: (i) Three hundred thousand dollars ($300,000) in life insurance death benefits or net cash surrender and net cash withdrawal values for life insurance; (ii) Five hundred thousand dollars ($500,000) in accident and health insurance benefits, including any net cash surrender and net cash withdrawal values, provided coverage for disability insurance benefits and long term care insurance benefits shall not exceed three hundred thousand dollars ($300,000); (iii) Three hundred thousand dollars ($300,000) in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; (b) With respect to each individual participating in a governmental retirement benefit plan established under section 401(k), section 403(b), or section 457, of the United States Internal Revenue Code covered by an unallocated annuity contract or the beneficiaries of each such individual if deceased, in the aggregate three hundred thousand dollars ($300,000) in present value annuity benefits, including net cash surrender and net cash withdrawal values; (c) With respect to each payee of a structured settlement annuity, or beneficiary or beneficiaries of the payee if deceased, three hundred thousand dollars ($300,000) in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values, if any. B. (1) Provided, however, that in no event shall the Association be obligated to cover more than (i) three hundred thousand dollars ($300,000) in benefits in the aggregate with respect to any one life under §§ 23–96–106, 23–96–107, and this section except with respect to benefits for basic hospital, medical and surgical insurance and major medical insurance under paragraph (A)(2)(a)(ii) of this section, in which case the aggregate liability of the Association shall not exceed five hundred thousand dollars ($500,000) with respect to any one individual, or (ii) with respect to one owner of multiple non-group policies of life insurance, whether the policy owner is an individual, firm, corporation or other person, and whether the persons insured are officers, managers, employees or other persons, more than one million dollars ($1,000,000) in benefits, regardless of the number of policies and contracts held by the owner; (2) With respect to either (i) one (1) contract owner provided coverage under § 23–96–107 (A)(3)(b); or (ii) one (1) plan sponsor whose plans own directly or in trust one or more unallocated annuity contracts not included in paragraph (A)(2)(b) of this section, one million dollars ($1,000,000) in benefits, irrespective of the number of contracts with respect to the contract owner or plan sponsor. However, in the case where one or more unallocated annuity contracts are covered contracts under this chapter and are owned by a trust or other entity for the benefit of two (2) or more plan sponsors, coverage shall be afforded by the Association if the largest interest in the trust or entity owning the contract or contracts is held by a plan sponsor whose principal place of business is in this state and in no event shall the Association be obligated to cover more than one million dollars ($1,000,000) in benefits with respect to all of these unallocated contracts. (Amended effective 5/7/2013).
§ 1067.02(c). The benefits for which the association may become liable for life insurance and annuity policies shall in no event exceed the lesser of the following: (1) Eighty percent of the contractual obligations for each policy or contract as modified pursuant to subparagraph (C) of paragraph (2) of subdivision (b), for which the insurer is liable or would have been liable if it were not an impaired or insolvent insurer. (2)(A) With respect to any one life, regardless of the number of policies or contracts: (i) Three hundred thousand dollars ($300,000) in life insurance death benefits, but not more than one hundred thou-sand dollars ($ 100,000) in net cash surrender and net cash withdrawal values for life insurance. (ii) Two hundred fifty thousand dollars ($250,000) in the present value of annuity benefits, including net cash sur-render and net cash withdrawal values. (B) With respect to each payee of a structured settlement annuity, or beneficiaries of the payee if deceased, two hundred fifty thousand dollars ($250,000) in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values. (C) Notwithstanding subparagraphs (A) and (B), in no event shall the association be obligated to cover more than an aggregate of three hundred thousand dollars ($300, 000) in benefits with respect to any one life under subparagraphs (A) and (B). (D) Notwithstanding subparagraphs (A), (B), and (C), with respect to one owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation, or other person, and whether the persons insured are officers, managers, employees, or other persons, in no event shall the association be obligated to cover more than five million dollars ($5,000,000) in benefits, regardless of the number of policies and contracts held by the owner. (d) The health insurance benefits for which the association may become liable shall in no event exceed the lesser of the following: (1) The contractual obligations for which the insurer is liable or for which the insurer would have been liable if it were not an impaired or insolvent insurer. (2) With respect to any one individual receiving health care benefits, regardless of the number of policies or contracts, two hundred thousand dollars ($200,000) in health insurance benefits; an amount that shall increase or decrease based upon changes in the health care cost component of the consumer price index from January 1, 1991, to the date on which the insurer becomes an insolvent insurer. Amended effective 9.27.2010.
§10-20-104(3). The benefits for which the association may become liable shall not exceed the lesser of: (a) The contractual obligations for which the insurer is liable or would have been liable if it were not an impaired or insolvent insurer; or (b)(I) With respect to any one life, regardless of the number of policies or contracts with that insurer: (A) Three hundred thousand dollars in net life insurance death benefits, and no more than one hundred thousand dollars in net cash surrender and net cash withdrawal values for life insurance; (B) For health insurance benefits: One hundred thousand dollars for coverages not defined as disability, basic hospital, medical and surgical, or major medical insurance or long-term care insurance, including any net cash surrender and net cash withdrawal values; three hundred thousand dollars for disability insurance; three hundred thousand dollars for long-term care insurance; or five hundred thousand dollars for basic hospital, medical and surgical, or major medical insurance; (C) Two hundred fifty thousand dollars in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; or (D) With respect to each payee of a structured settlement annuity, two hundred fifty thousand dollars in present-value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values. (II) The association is not obligated to cover: (A) More than three hundred thousand dollars in benefits, in the aggregate, with respect to any one life under sub-subparagraphs (A) to (D) of subparagraph (I) of this paragraph (b); except that, with respect to benefits for basic hospital, medical and surgical, and major medical insurance under sub-subparagraph (B) of subparagraph (I) of this paragraph (b), the aggregate liability of the association shall not exceed five hundred thousand dollars with respect to any one individual ; or (B) More than five million dollars in benefits with respect to an owner of multiple nongroup policies of life insurance, regardless of whether the policy owner is an individual, firm, corporation, or other person; whether the persons insured are officers, managers, employees, or other persons; or the number of policies and contracts held by the owner. (Amended 3/15/2013).
§4403(c). The benefits that the Association may become obligated to cover shall in no event exceed the lesser of the following: (1) the contractual obligations for which the insurer is liable or would have been liable if it were not an impaired or insolvent insurer, or (2)(A) with respect to any one life, regardless of the number of policies or contracts: a. $300,000 in life insurance death benefits, but not more than $100,000 in net cash surrender and net cash withdrawal values for life insurance; b. In health insurance benefits: 1. $100,000 for coverages not defined as disability insurance or basic hospital, medical and surgical insurance or major medical insurance including any net cash surrender and net cash withdrawal values; 2. $300,000 for disability insurance and $300,000 for long-term care insurance. For purposes of this section, “disability insurance” shall mean the type of policy which pays a monthly or weekly amount if an individual is disabled and cannot work. “Long-term care insurance” shall have the meaning as defined in 18 Del. Code § 7103(5). 3. $500,000 for basic hospital, medical and surgical insurance or major medical insurance. For purposes of this section "basic hospital, medical and surgical insurance" shall mean a policy which pays a certain portion of hospital room and board costs each day. This type of policy also pays for hospital services and supplies such as x-rays, lab tests, medicine and other items up to a stated amount. "Major medical insurance" shall mean health insurance to finance the expense of major illness and injury, characterized by large benefits maximums. This type of insurance reimburses the major part of all charges for hospital, doctor, private nurses, medical appliances, prescribed out of hospital treatment, drugs and medicines, above an initial deductible. The insured person as co-insurer pays the remainder; or c. $250,000 in present value of annuity benefits including net cash surrender and net cash withdrawal values. (B) With respect to each individual participating in a governmental retirement benefit plan established under § 401, § 403(b) or § 457 of the U.S. Internal Revenue Code [26 U.S.C. § 401, § 402(b) or § 457] covered by an unallocated annuity contract, or the beneficiaries of each such individual if deceased, $250,000 in the aggregate in present value annuity benefits, including net cash surrender and net cash withdrawal values; (C) With respect to each payee of a structured settlement annuity (or beneficiary or beneficiaries of the payee, if de-ceased), $250,000 in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values, if any; (D) However, in no event shall the Association be obligated to cover more than (I) an aggregate of $300,000 in benefits with respect to any one life under paragraphs (2)(A), (2)(B) and (2)(C) of this subsection except with respect to benefits for basic hospital, medical and surgical insurance and major medical insurance under paragraph (2)(A)b. of this subsection, in which case the aggregate liability of the Association shall not exceed $500,000 with respect to any one individual, or (ii) with respect to one owner of multiple non-group policies of life insurance, whether the policy owner is an individual, firm, corporation or other person, and whether the persons insured are officers, managers, employees or other persons, more than $1,000,000 in benefits, regardless of the number of policies and contracts held by the owner; (E) With respect to either (i) one contract owner provided coverage under Subsection (a)(3)b. of this §; or (ii) one plan sponsor whose plans own directly or in trust one or more unallocated annuity contracts not included in paragraph (2)(B) of this subsection, $1,000,000 in benefits, irrespective of the number of contracts with respect to the contract owner or plan sponsor. However, in the case where one or more unallocated annuity contracts are covered contracts under this chapter and are owned by a trust or other entity for the benefit of two (2) or more plan sponsors, coverage shall be afforded by the Association if the largest interest in the trust or entity owning the contract or contracts is held by a plan sponsor whose principal place of business is in this state and in no event shall the Association be obligated to cover more than $1,000,000 in benefits with respect to all these unallocated contracts. Amended 01/06/2010.
215 ILCS 5/531.03(3). (b)(i) with respect to any one life, regardless of the number of policies or contracts: (A) $300,000 in life insurance death benefits, but not more than $100,000 in net cash surrender and net cash withdrawal values for life insurance; (B) in health insurance benefits: (I) $100,000 for coverages not defined as disability insurance or basic hospital, medical, and surgical insurance or major medical insurance or long-term care insurance, including any net cash surrender and net cash withdrawal values; (II) $300,000 for disability insurance and $300,000 for long-term care insurance as defined in Section 351A–1 of this Code; and (III) $500,000 for basic hospital medical and surgical insurance or major medical insurance; (C) $250,000 in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; (ii) with respect to each individual participating in a governmental retirement benefit plan established under Sections 401, 403(b), or 457 of the U.S. Internal Revenue Code covered by an unallocated annuity contract or the beneficiaries of each such individual if deceased, in the aggregate, $250,000 in present value annuity benefits, including net cash surrender and net cash withdrawal values; (iii) with respect to each payee of a structured settlement annuity or beneficiary or beneficiaries of the payee if deceased, $250,000 in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values, if any; or (iv) with respect to either (1) one contract owner provided coverage under subparagraph (ii) of paragraph (c) of subsection (1) of this Section or (2) one plan sponsor whose plans own directly or in trust one or more unallocated annuity contracts not included in subparagraph (ii) of paragraph (b) of this subsection, $5,000,000 in benefits, irrespective of the number of contracts with respect to the contract owner or plan sponsor. However, in the case where one or more unallocated annuity contracts are covered contracts under this Article and are owned by a trust or other entity for the benefit of 2 or more plan sponsors, coverage shall be afforded by the Association if the largest interest in the trust or entity owning the contract or contracts is held by a plan sponsor whose principal place of business is in this State. In no event shall the Association be obligated to cover more than $5,000,000 in benefits with respect to all these unallocated contracts. In no event shall the Association be obligated to cover more than (1) an aggregate of $300,000 in benefits with respect to any one life under subparagraphs (i), (ii), and (iii) of this paragraph (b) except with respect to benefits for basic hospital, medical, and surgical insurance and major medical insurance under item (B) of subparagraph (i) of this paragraph (b), in which case the aggregate liability of the Association shall not exceed $500,000 with respect to any one individual or (2) with respect to one owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation, or other person and whether the persons insured are officers, managers, employees, or other persons, $5,000,000 in benefits, regardless of the number of policies and contracts held by the owner. Amended effective 8.20.2010.
§508C.8.(8)(a)(2)(a) With respect to one life, regardless of the number of policies or contracts: (i) Three hundred thousand dollars in life insurance death benefits, but not more than one hundred thousand dollars in net cash surrender and net cash withdrawal values for life insurance. (ii) Five hundred thousand dollars for health insurance benefits which are basic hospital expense coverage, basic medical-surgical expense coverage, or major medical expense coverage as defined by the commissioner by rule pursuant to section 514D.4; three hundred thousand dollars for health insurance benefits which are disability income protection as defined by the commissioner by rule pursuant to section 514D.4; three hundred thousand dollars for long-term care insurance as defined in section 514G.103; or one hundred thousand dollars for other health insurance benefits including any net cash surrender and net cash withdrawal values. (iii) Two hundred fifty thousand dollars in the present value of annuity benefits, including net cash surrender and net cash withdrawal values. (iv) With respect to each payee of a structured settlement annuity, or the beneficiary or beneficiaries of the payee if the payee is deceased, two hundred fifty thousand dollars in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values. (b)(i) With respect to each individual participating in a benefit plan established under section 401, 403(b), or 457 of the United States Internal Revenue Code, or each unallocated annuity contract account, excluding a plan established under section 401, 403(b), or 457 of the United States Internal Revenue Code, not more than two hundred fifty thousand dollars in the aggregate, in present value annuity benefits, including net cash surrender and net cash withdrawal values for the beneficiaries of the deceased individual. (ii) However, the association shall not in any event be obligated to cover more than an aggregate of three hundred fifty thousand dollars in benefits with respect to any one life under subparagraph division (a) and this subparagraph division (b), except with respect to benefits for basic hospital expense coverage, basic medical-surgical expense coverage, or major medical expense coverage under subparagraph division (a), subparagraph subdivision (ii), in which case the aggregate liability of the association shall not exceed five hundred thousand dollars with respect to any one individual, or more than five million dollars in benefits to one owner of multiple nongroup policies of life insurance regardless of whether the policy owner is an individual, firm, corporation, or other person, and whether the persons insured are officers, managers, employees, or other persons, and regardless of the number of policies and contracts held by the owner. (c) With respect to a plan sponsor whose plan owns, directly or in trust, one or more unallocated annuity contracts not included under subparagraph division (b), not more than five million dollars in benefits, regardless of the number of contracts held by the plan sponsor. However, where one or more such unallocated annuity contracts are covered contracts under this chapter and are owned by a trust or other entity for the benefit of two or more plan sponsors, the association shall provide coverage if the largest interest in the trust or entity owning the contract is held by a plan sponsor whose principal place of business is in the state but in no event shall the association be obligated to cover more than five million dollars in benefits in the aggregate with respect to all such unallocated contracts. b. The limitations on the association's obligation to cover benefits that are set forth under this subsection do not take into account the association's subrogation and assignment rights or the extent to which such benefits could be provided out of the assets of the impaired or insolvent insurer that are attributable to covered policies. The association's obligations under this chapter may be met by the use of assets attributable to covered policies or reimbursed to the association pursuant to the association's subrogation and assignment rights. Amended effective 7.1.2010.
§40-3008(o)The benefits for which the association may become liable shall in no event exceed the lesser of: (1) The contractual obligations for which the insurer is liable or would have been liable if it were not an impaired or insolvent insurer; or (2) with respect to any one life, regardless of the number of policies or contracts: (A) $300,000 in life insurance death benefits, but not more than $100,000 in net cash surrender and net cash withdrawal values for life insurance; (B) in health insurance benefits: (i) $100,000 for coverages not defined as disability insurance or basic hospital, medical and surgical insurance or major medical insurance or long-term care insurance including any net cash surrender and net cash withdrawal values; (ii) $300,000 for disability insurance and $300,000 for long-term care insurance; (iii) $500,000 for basic hospital, medical and surgical insurance or major medical insurance; (C) $250,000 in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; (D) with respect to each payee of a structured settlement annuity (or beneficiary or beneficiaries of the payee if deceased), $250,000 in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values; (E) however, in no event shall the association be obligated to cover more than: (1) An aggregate of $300,000 in benefits with respect to any one life as provided in paragraphs (A), (B), (C) and (D) of this subsection except with respect to benefits for basic hospital, medical and surgical insurance and major medical insurance under (o)(2)(B)(iii) of this subsection, in which case the aggregate liability of the association shall not exceed $500,000 with respect to any one individual; or (2) with respect to one owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation or other person, and whether the persons insured are officers, managers, employees or other persons, more than $5,000,000 in benefits, regardless of the number of policies and contracts held by the owner; (Amended effective 7/1/2011).
KRS 304.42-030(3)(a) The benefits that the association may become obligated to cover… with respect to any one (1) life, regardless of the number of policies or contracts: 1. In life insurance, three hundred thousand dollars ($300,000) In death benefits, but not more than one hundred thousand dollars ($100,000) net cash surrender and net cash withdrawal values for life insurance; 2. In health insurance benefits: a. One hundred thousand dollars ($100,000) for coverages not defined as disability insurance or basic hospital, medical and surgical insurance, major medical insurance or long term care insurance, including any net cash surrender and net cash withdrawal values; b. Three hundred thousand dollars ($300,000) for disability insurance and three hundred thousand ($300,000) for long term care insurance; and c. Five hundred thousand dollars ($500,000) for basic hospital medical and surgical insurance or major medical insurance; and 3. In annuity benefits, two hundred fifty thousand dollars ($250,000) in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; except with respect to each payee of a structured settlement annuity or beneficiary or beneficiaries of the payee if deceased, two hundred fifty thousand dollars ($250,000) in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values. (b) In no event shall the association be obligated to cover more than: 1. An aggregate of three hundred thousand dollars ($300,000) in benefits with respect to any one (1) life under subparagraphs 2. and 3. of paragraph (a) of this subsection except with respect to benefits for basic hospital, medical and surgical insurance and major medical insurance as stated in paragraph (a) of this subsection, in which case the aggregate liability of the association shall not exceed five hundred thousand dollars ($500,000) with respect to any one individual; or 2. With respect to one (1) owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation, or other person, and whether the persons insured are officers, managers, employees, or other persons, more than five million dollars ($5,000,000) in benefits, regardless of the number of policies and contracts held by the owner. Amended effective 3/30/2010.
§4603.3.B. With respect to one life, regardless of the number of policies or contracts: (1) Three hundred thousand dollars in life insurance death benefits, but not more than $100,000 in net cash surrender and net cash withdrawal values for life insurance; (2) The following limits for health insurance benefits: (a) Three hundred thousand dollars for coverages not defined as disability insurance or basic hospital, medical and surgical insurance or major medical insurance, including any net cash surrender and net cash withdrawal values; (b) Three hundred thousand dollars for disability and long-term care insurance; or (c) Five hundred thousand dollars for basic hospital, medical and surgical insurance or major medical insurance; or (3) Two hundred fifty thousand dollars in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; or §4603.3.C. With respect to each payee of a structured settlement annuity, or beneficiary or beneficiaries of the payee if deceased, $100,000 in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values §4603.4. Notwithstanding subsection 3, the association is not in any event obligated to cover more than: A. An aggregate of $300,000 in benefits with respect to any one life under subsection 3, paragraph B except with respect to benefits for basic hospital, medical and surgical insurance and major medical insurance under subsection 3, paragraph B, subparagraph (2), in which case the aggregate liability of the association may not exceed $500,000 with respect to any one individual; or B. Five million dollars in benefits, regardless of the number of policies and contracts held by the owner, with respect to one owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation or other person, and whether the persons insured are officers, managers, employees or other persons. Amended effective 5/11/09.
§500.7704(6)(b) With respect to 1 life, regardless of the number of policies or contracts: (i) $300,000.00 in life insurance death benefits, but not more than $100,000.00 in net cash surrender and net cash withdrawal values for life insurance. (ii) Except as otherwise provided in subparagraphs (iv) and (v), $100,000.00 in health insurance benefits, including any net cash surrender and net cash withdrawal values. (iii) $250,000.00 in the present value of annuity benefits, including net cash surrender and net cash withdrawal values * * *. (iv) $300,000.00 in disability income insurance benefits or long-term care benefits. (v) $500,000.00 in basic hospital, medical, and surgical insurance benefits. (c) With respect to each individual participating in a governmental retirement benefit plan established under section 401(k), 403(b), or 457 of the internal revenue code of 1986, 26 USC 401, 403, and 457, covered by an unallocated annuity contract or the beneficiaries of each such individual, if deceased, in the aggregate, $250,000.00 in present value annuity benefits, including net cash surrender and net cash withdrawal values. (d) With respect to each payee of a structured settlement annuity, or the beneficiary or beneficiaries of a deceased payee, $250,000.00 in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values, if any. (e) For either 1 contract owner provided coverage under subsection (1)(c)(ii) or 1 plan sponsor whose plans own directly or in trust 1 or more unallocated annuity contracts not included in subdivision (C), $5,000,000.00 in benefits, irrespective of the number of contracts with respect to the contract owner or plan sponsor. However, if 1 or more unallocated annuity contracts are covered contracts under this chapter and are owned by a trust or other entity for the benefit of 2 or more plan sponsors, coverage shall be afforded by the association if the largest interest in the trust or entity owning the contract or contracts is held by a plan sponsor whose principal place of business is in this state, but in no event is the association obligated to cover more than $5,000,000.00 in benefits for all those unallocated contracts. (7) In no event is the association obligated to cover more than the following: (a) An aggregate of $300,000.00 in benefits for any 1 life under subsection (6)(b)(i), (ii), (iii), and (iv), (c), and (d). (b) An aggregate of $500,000.00 in benefits for any 1 life under subsection (6)(b)(v). (c) For 1 owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation, or other person, and whether the persons insured are officers, managers, employees, or other persons, $5,000,000.00 in benefits, regardless of the number of policies and contracts held by the owner. Amended effective 9.2.2010.
§61B.19, subd.4 (2). With respect to any one life, regardless of the number of policies or contracts: (i) $500,000 in life insurance death benefits, but not more than $130,000 in net cash surrender and net cash withdrawal values for life insurance; (ii) $500,000 in health insurance benefits, including any net cash surrender and net cash withdrawal values; (iii) $250,000 in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; (iv) $410,000 in present value of annuity benefits for structured settlement annuities or for annuities in regard to which periodic annuity benefits, for a period of not less than the annuitant's lifetime or for a period certain of not less than ten years, have begun to be paid, on or before the date of impairment or insolvency; or (3) subject to the limitations in clauses (5) and (6), with respect to each individual resident participating in a retirement plan, except a defined benefit plan, established under section 401, 403(b), or 457 of the Internal Revenue Code of 1986, as amended through December 31, 1992, covered by an unallocated annuity contract, or the beneficiaries of eachsuch individual if deceased, in the aggregate, $250,000 in net cash surrender and net cash withdrawal values; (4) where no coverage limit has been specified for a covered policy or benefit, the coverage limit shall be $500,000 in present value; (5) in no event shall the association be liable to expend more than $500,000 in the aggregate with respect to any one life under clause (2), items (i), (ii), (iii), (iv), and clause (4), and any one individual under clause (3); (6) in no event shall the association be liable to expend more than $10,000,000 with respect to all unallocated annuities of a retirement plan, except a defined benefit plan, established under section 401, 403(b), or 457 of the Internal Revenue Code of 1986, as amended through December 31, 1992. If total claims from a plan exceed $10,000,000, the $10,000,000 shall be prorated among the claimants. Amended 5/8/09.
§83-23-205(3)(b)(i) With respect to any one (1) life, regardless of the number of policies or contracts: 1. Three Hundred Thousand Dollars ($ 300,000.00) in life insurance death benefits, but not more than One Hundred Thousand Dollars ($ 100,000.00) in net cash surrender and net cash withdrawal values for life insurance; 2. In health insurance benefits: a. One Hundred Thousand Dollars ($ 100,000.00) for coverages not defined as disability insurance or basic hospital, medical and surgical insurance or major medical insurance or long-term care insurance, including any net cash surrender and net cash withdrawal values; b. Three Hundred Thousand Dollars ($ 300,000.00) for disability insurance and Three Hundred Thou-sand Dollars ($ 300,000.00) for long-term care insurance; c. Five Hundred Thousand Dollars ($ 500,000.00) for basic hospital medical and surgical insurance or major medical insurance; or 3. Two Hundred Fifty Thousand Dollars ($ 250,000.00) in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; (ii) With respect to each individual participating in a governmental retirement benefit plan established under Section 401, 403(b) or 457 of the United States Internal Revenue Code covered by an unallocated annuity contract or the beneficiaries of each such individual if deceased, in the aggregate, Two Hundred Fifty Thousand Dollars ($ 250,000.00) in present value annuity benefits, including net cash surrender and net cash withdrawal values; (iii) With respect to each payee of a structured settlement annuity (or beneficiary or beneficiaries of the payee if deceased), Two Hundred Fifty Thousand Dollars ($ 250,000.00) in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values, if any; (iv) However, in no event shall the association be obligated to cover more than (a) an aggregate of Three Hundred Thousand Dollars ($ 300,000.00) in benefits with respect to any one (1) life under paragraphs (b) (i), (b) (ii) and (b) (iii) of this subsection except with respect to benefits for basic hospital, medical and surgical insurance and major medical insurance under paragraph (b) (i) of this subsection, in which case the aggregate liability of the association shall not exceed Five Hundred Thousand Dollars ($ 500,000.00) with respect to any one (1) individual, or (b) with respect to one (1) owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation or other person, and whether the persons insured are officers, managers, employees or other persons, more than Five Million Dollars ($ 5,000,000.00) in benefits, regardless of the number of policies and contracts held by the owner; (v) With respect to either (a) one (1) contract owner provided coverage under subsection (1) (c) (ii) of this section; or (b) one (1) plan sponsor whose plans own directly or in trust one or more unallocated annuity contracts not included in paragraph (b) (ii) of this subsection, Five Million Dollars ($ 5,000,000.00) in benefits, irrespective of the number of contracts with respect to the contract owner or plan sponsor. However, in the case where one or more unallocated annuity contracts are covered contracts under this article and are owned by a trust or other entity for the benefit of two (2) or more plan sponsors, coverage shall be afforded by the association if the largest interest in the trust or entity owning the contract or contracts is held by a plan sponsor whose principal place of business is in this state and in no event shall the association be obligated to cover more than Five Million Dollars ($ 5,000,000.00) in benefits with respect to all these unallocated contracts; (Amended effective 3-17-2014).
§686C.210(1) (b) With respect to one life, regardless of the number of policies or contracts: (1) Three hundred thousand dollars in death benefits from life insurance, but not more than $100,000 in net cash for surrender and withdrawal for life insurance; or (2) Two hundred fifty thousand dollars in the present value of benefits from annuities, including net cash for surrender and withdrawal; (c) With respect to health insurance for any one life: (1) One hundred thousand dollars for coverages other than disability insurance, long-term care insurance, basic hospital, medical and surgical insurance or major medical insurance, including any net cash for surrender or withdrawal; (2) Three hundred thousand dollars for disability insurance or long-term care insurance; or (3) Five hundred thousand dollars for basic hospital, medical and surgical insurance or major medical insurance; (d) With respect to each payee of a structured settlement annuity, or beneficiary or beneficiaries of the payee if deceased, $250,000 in present value of benefits from the annuity in the aggregate, including any net cash for surrender or withdrawal; or (e) With respect to each participant in a governmental retirement plan covered by an unallocated annuity contract which is owned by a governmental retirement plan established under section 401, 403(b) or 457 of the Internal Revenue Code, 26 U.S.C. §§?401, 403(b) and 457, respectively, or the trustees of such a plan, and which is approved by the Commissioner, an aggregate of $250,000 in present-value annuity benefits, including the value of net cash for surrender and net cash for withdrawal, regardless of the number of contracts. 2. In no event is the Association obligated to cover more than: (a) With respect to any one life or person under paragraphs (b) to (e), inclusive, of subsection 1: (1) An aggregate of $300,000 in benefits, excluding benefits for basic hospital, medical and surgical insurance or major medical insurance; or (2) An aggregate of $500,000 in benefits, including benefits for basic hospital, medical and surgical insurance or major medical insurance. (b) With respect to one owner of several nongroup policies of life insurance, whether the owner is a natural person or an organization and whether the persons insured are officers, managers, employees or other persons, more than $5,000,000 in benefits, regardless of the number of policies and contracts held by the owner.
§17B:32A-3.d. (2)	with respect to any one insured individual, regardless of the number of policies or contracts: (a)	$500,000 in life insurance death benefits, but not more than $100,000 in net cash surrender and net cash withdrawal values for life insurance; (b)	$500,000 in present value annuity benefits, including net cash surrender and net cash withdrawal values, but not more than $100,000 in net cash surrender and net cash withdrawal values for annuity benefits; provided, however, that in no event shall the association be liable to expend more than $500,000 in the aggregate with respect to any one individual under this paragraph (2); or (3)	with respect to any one unallocated annuity contract, $2,000,000 in benefits; or (4)	with respect to any one group, blanket, or individual accident or health insurance or group, blanket or individual accident or health insurance policy, unlimited benefits. e.	A provider of health care services, in order to receive payment directly from the association upon a claim of the provider against an insured, shall agree to forgive the insured of 20% of the obligation which would otherwise be paid by the insurer had it not been insolvent. The obligations of solvent insurers to pay all or part of the covered claim are not diminished by the forgiveness provided in this subsection. The association is not bound by an assignment of benefits executed with respect to the coverage provided by the insolvent insurer. The association may aggregate all claims owed health care providers when negotiating direct payment of claims of all covered individuals.
§7708(b)(3). The corporation's aggregate liability shall not exceed $500,000 for all benefits, including cash values, with respect to any one life, or to the extent benefits are not allocated pursuant to a covered policy to any one life, to any one covered policy; provided, however, (i) aggregate liability does not apply to any group, or blanket accident, or health insurance, or accident and health insurance policy and (ii)that the corporation shall be liable in an amount not to exceed $1,000,000 for all benefits, including cash values, with respect to any group annuity contract (or portion thereof) that does not guaranty benefits with respect to any specific individual identified in the contract and with respect to any funding agreement issued to fund benefits under any employee benefit plan.
§26.1-38.1-01.4. b. (1) With any respect to one life, regardless of the number of policies, or contracts: (a) Three hundred thousand dollars in life insurance death benefits, but not more than one hundred thousand dollars in net cash surrender and net cash withdrawal values for life insurance; (b) In health insurance benefits:  One hundred thousand dollars for coverages not defined as disability insurance or basic hospital, medical, and surgical insurance or major medical insurance or long-term care insurance,including any net cash surrender and net cash withdrawal values.  Three hundred thousand dollars for disability insurance, and three hundred thousand dollars for long-term care insurance.  Five hundred thousand dollars for basic hospital, medical, and surgical insurance or major medical insurance. (c) Two hundred fifty thousand dollars in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; (2) With respect to each individual participating in a government retirement benefit plan established under section 401(k), 403(b), or 457 of the United States Internal Revenue Code covered by an unallocated annuity contract or the beneficiaries of each such individual if deceased, in the aggregate, two hundred fifty thousand dollars in present value annuity benefits, including net cash surrender and net cash withdrawal values; (3) With respect to each payee of a structured settlement annuity or beneficiary, or beneficiaries of the payee if deceased, two hundred fifty thousand dollars in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values , if any; (4) However, in no event shall the association be obligated to cover more than: (a) An aggregate of three hundred thousand dollars in benefits with respect to any one life under paragraphs 1, 2, and 3 of subdivision b except with respect to the benefits for basic hospital, medical, and surgical insurance and major medical insurance under subparagraph b of paragraph 1 of subdivision b, in which case the aggregate liability of the association shall not exceed five hundred thousand dollars with respect to any one individual; or (b) With respect to one owner of multiple nongroup policies of life insurance, whether the persons insured are officers, managers, employees, or other persons, more than five million dollars in benefits, regardless of the number of policies and contracts held by the owner. (5) With respect to either one contract owner provided coverage under subparagraph c of paragraph 2 of subdivision b of subsection 1; or one plan sponsor whose plans own directly or in trust one or more unallocated annuity contracts not included in paragraph 2 of subdivision b, five million dollars in benefits, irrespective of the number of contracts with respect to the contract owner or plan sponsor. However, in the case in which one or more unallocated annuity contracts are covered contracts under this chapter and are owned by a trust or other entity for the benefit of two or more plan sponsors, coverage must be afforded by the association if the largest interest in the trust or entity owning the contract or contracts is held by a plan sponsor whose principal place of business is in this state and in no event is the association obligated to cover more than five million dollars in benefits with respect to all these unallocated contracts. Amended effective 8/1/2011.
§2025.C.2. a. with respect to any one life, regardless of the number of policies or contracts: (1) Three Hundred Thousand Dollars ($300,000.00) in life insurance death benefits, but not more than One Hundred Thousand Dollars ($100,000.00) in net cash surrender and net cash withdrawal values for life insurance, (2) in health insurance benefits: (a) One Hundred Thousand Dollars ($100,000.00) for coverages not defined as disability insurance or basic hospital, medical and surgical insurance or major medical insurance or long-term care insurance as defined in Section 4424 of this title, including any net cash surrender and net cash withdrawal values, (b) Three Hundred Thousand Dollars ($300,000.00) for insurance providing income payments to an insured wage earner when income is interrupted or terminated because of illness, sickness or accident, commonly known as disability insurance and Three Hundred Thousand Dollars ($300,000.00) for long-term care insurance as defined in Section 4424 of this title, and (c) Five Hundred Thousand Dollars ($500,000.00) for basic hospital, medical and surgical insurance or insurance providing coverage in excess of that provided by a basic hospital, medical and surgical insurance, commonly known as major medical insurance, or (3) Three Hundred Thousand Dollars ($300,000.00) in the present value of annuity benefits, including net cash surrender and net cash withdrawal values, or b. with respect to each payee of a structured settlement annuity or beneficiary or beneficiaries of the payee if the payee is deceased, Three Hundred Thousand Dollars ($300,000.00) in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values, c. however, in no event shall the Association be obligated to cover more than: (1) an aggregate of Three Hundred Thousand Dollars ($300,000.00) in benefits with respect to any one life under this subparagraph and subparagraphs a and b of this paragraph except with respect to benefits for basic hospital, medical and surgical insurance and major medical insurance under division (2) of subparagraph a of this paragraph, in which case the aggregate liability of the Association shall not exceed Five Hundred Thousand Dollars ($500,000.00) with respect to any one individual, or (2) with respect to one owner of multiple non-group policies of life insurance, whether the policy owner is an individual, firm, corporation or other person, and whether the persons insured are officers, managers, employees or other persons, more than Five Million Dollars ($5,000,000.00) in benefits, regardless of the number of policies and contracts held by the owner, Amended effective 11/1/2010.
§ 734.810(11)(b) With respect to any one life, regardless of the number of policies or contracts: (A) $300,000 in life insurance death benefits, but not more than $100,000 in net cash surrender and net cash withdrawal values for life insurance. (B) $100,000 in health insurance benefits other than basic hospital, medical and surgical insurance, major medical insurance, disability insurance or long term care insurance, including any net cash surrender and net cash withdrawal values. (C) $300,000 in disability insurance benefits. (D) $300,000 in long term care insurance benefits. (E) $500,000 in basic hospital, medical and surgical insurance or major medical insurance. (F) $250,000 in the present value of annuity benefits, including any net cash surrender and net cash withdrawal values; (c) With respect to each payee of a structured settlement annuity or the beneficiary of the payee if deceased, $250,000 in the present value of annuity benefits, in the aggregate, including any net cash surrender and net cash withdrawal values; or (d) $250,000 in the present value of annuity benefits, in the aggregate, including any net cash surrender and net cash withdrawal values, with respect to each individual participating in a governmental retirement plan established under section 401, 403(b) or 457 of the United States Internal Revenue Code covered by an unallocated annuity contract or the beneficiaries of each such individual if deceased. (12) The association may not be liable for more than: (a) $300,000 in benefits, in the aggregate, with respect to any one life under subsection (11)(b), (c) and (d) of this section, with the exception of benefits under subsection (11)(b)(E) of this section, in which case the aggregate liability of the association may not exceed $500,000 with respect to any one life. (b) With respect to one policyholder of multiple nongroup policies of life insurance, regardless of whether the policyholder is an individual, firm, corporation or other person, and whether the persons insured are officers, managers, employees or other persons, $5 million in benefits, regardless of the number of policies and contracts held by the policyholder. Amended effective 5/27/2011.
40 PS §991.1703(c). (ii) (A) With respect to any one life, regardless of the number of policies or contracts, the following shall apply: (I) Three hundred thousand ($300,000) dollars in life insurance death benefits, but not more than one hundred thousand ($100,000) dollars in net cash surrender and net cash withdrawal values for life insurance. (II) Three hundred thousand ($300,000) dollars in health insurance benefits, including any net cash surrender and net cash withdrawal values. (III) Three hundred thousand ($300,000) dollars in annuity benefits, including one hundred thousand ($100,000) dollars in net cash surrender and net cash withdrawal values. (IV) Three hundred thousand ($300,000) dollars in long-term care insurance benefits, as defined under section 1103, including any cash surrender and net cash withdrawal values. (B) With respect to each individual participating in a governmental retirement plan established under section 401, 403(b) or 457 of the Internal Revenue Code of 1986 covered by an unallocated annuity contract or the beneficiaries of each such individual if deceased, in the aggregate, three hundred thousand ($300,000) dollars in annuity benefits, including one hundred thousand ($100,000) dollars in net cash surrender and net cash withdrawal values. (C) With respect to any one contract holder covered by any unallocated annuity contract not included in clause (B), five million ($5,000,000) dollars in benefits, irrespective of the number of such contracts held by that contract holder. Amended effective 7.17.2007.
T.26 §3903.3. The benefits of which the Association may become liable shall not, in any case, exceed the lesser of the contractual obligations for which the insurer is liable or would have been liable if he/she were not an impaired, or insolvent insurer, or, with respect to any life, regardless of the number of policies or contracts: I. three hundred thousand (300,000) dollars in life insurance death benefits, but not more than one hundred thousand (100,000) dollars in net cash surrender values and net cash withdrawal funds values; II. one hundred thousand (100,000) dollars in disability insurance benefits including any net cash surrender values and net cash withdrawal values; III. one hundred thousand (100,000) dollars in the present value of annuity benefits including any net cash surrender values and net cash withdrawal values. However, in no case shall the Association be bound to disburse more than three hundred thousand (300,000) dollars in aggregate form with respect to any one life.
§38-29.70(10). No liability with respect to any portion of a covered policy to the extent that the benefits to any one person exceed an aggregate of $300,000.
§463.204. A contractual obligation does not include (1) death benefits in excess of $300,000 or a net cash surrender or net cash withdrawal value in excess of $100,000 under one or more covered policies on any one life, (2) an amount in excess of $250,000 in the present value under one or more annuity contracts issued with respect to one life under individual annuity policies or with respect to each payee of a structured settlement immediate annuity or an amount in excess of $5,000,0000 in unallocated annuity contract benefits with respect to any one contract holder irrespective of the number of such contracts, (3) an amount in excess of the following limits for health insurance benefits on any one life, including net cash surrender or cash withdrawal values: (A) $500,000 for basic hospital, medical-surgical, or major medical insurance, (B) $300,000 for disability and long-term care insurance, (C) $200,000 for coverage not defined as basic hospital, medical-surgical, major medical, disability or long-term care insurance, (4) an amount in excess of $250,000 in present value annuity benefits with respect to each individual participating in a governmental retirement benefit plan established under Section 401, 403(b), or 457 Internal Revenue Code of 1986 covered by an unallocated annuity contract, (5) an amount in excess of $250,000 in present value with respect to each payee of a structured settlement immediate annuity, or (6) aggregate benefits in excess of $300,000 with respect to one life except for (A) benefits paid under basic hospital, medical-surgical, or major medical insurance policies, in which case the aggregate benefits are $500,000 and (B) benefits paid to one owner of multiple non-group policies of life insurance, whether the policy owner is an individual, firm, corporation, or other person, in which case the maximum benefits are $5,000,000 regardless of the number of policies and contracts held by the owner, (7) an amount in excess of $5,000,000 in benefits, with respect to either one plan sponsor whose plans own directly or indirectly or in trust one or more unallocated annuity contracts. Amended effective 9/1/2011.
§31A-28-103(3). (b) with respect to one life, regardless of the number of policies or contracts: (i) for a life insurance policy: (A) if the insured died before the coverage date, $500,000 of the death benefit; (B) if the insurer received a valid request for cash surrender before the coverage date but has not paid the cash surrender value before the coverage date, $200,000 of cash surrender benefits; or (C) if neither Subsection (3)(b)(i)(A) nor (B) apply, the covered portion of each benefit provided under the policy; (ii) for an annuity contract, the covered portion of each benefit provided under the contract; (iii) for a disability policy: (A) classified as basic hospital and medical or major medical, $500,000; or (B) not classified as basic hospital and medical or major medical, the covered portion of each benefit provided under the policy; (c) for an individual, or a beneficiary of that individual if the individual is deceased, participating in a governmental retirement plan established under Section 401, 403(b), or 457, Internal Revenue Code, covered by an unallocated annuity contract, in the aggregate $250,000 in present value of annuity benefits, including: (i) net cash surrender; and (ii) net cash withdrawal values; or (d) for a payee of a structured settlement annuity or a beneficiary of the payee if the payee is deceased, the limits set forth in Subsection (3)(b). (4) Notwithstanding Subsections (3)(a) through (d), the association may not be obligated to cover more than: (a) an aggregate of $500,000 in benefits for any one life under: (i) Subsection (3)(b)(i)(A); (ii) Subsection (3)(b)(i)(B); (iii) Subsection (3)(b)(ii); and (iv) Subsection (3)(b)(iii)(B); (b) $5,000,000 in benefits for one owner of multiple nongroup policies of life insurance: (i) whether the policy owner is an individual, firm, corporation, or other person; (ii) whether the persons insured are officers, managers, employees, or other persons; and (iii) regardless of the number of policies and contracts held by the owner; and (c) $5,000,000 in benefits, regardless of the number of contracts held by the contract owner or plan sponsor, for: (i) one contract owner provided coverage under Subsection (1)(b)(ii)(B); or (ii) one plan sponsor whose plans own, directly or in trust, one or more unallocated annuity contracts not included in Subsection (3)(b)(ii). (5)(a) Notwithstanding Subsection (4)(c) and except as provided in Subsection (5)(b), the association shall provide coverage if one or more unallocated annuity contracts are: (i) covered contracts under this part; (ii) owned by a trust or other entity for the benefit of two or more plan sponsors; and (iii) the largest interest in the trust or entity owning the contract or contracts is held by a plan sponsor whose principal place of business is in the state. (b) Notwithstanding Subsection (5)(a) the association may not be obligated to cover more than $5,000,000 in benefits with respect to the unallocated contracts described in Subsection (5)(a). Amended effective 5/11/2010.
§4158(8). (B)(i) With respect to any one life, regardless of the number of policies or contracts: (I) $300,000.00 in life insurance death benefits, but not more than $100,000.00 in net cash surrender and net cash withdrawal values for life insurance; (II) In health insurance benefits: (aa) $100,000.00 for coverages not defined as disability insurance or basic hospital, medical, and surgical insurance, or major medical insurance, or long-term care insurance, including any net cash surrender and net cash withdrawal values; (bb) $300,000.00 for disability insurance and $300,000.00 for long-term care insurance; (cc) $500,000.00 for basic hospital, medical, and surgical insurance, or major medical insurance; or (III) $250,000.00 in the present value of annuity benefits, including net cash surrender and net cash with-drawal values; or (ii) With respect to each individual participating in a governmental retirement plan established under Section 401, 403(b), or 457 of the U.S. Internal Revenue Code covered by an unallocated annuity contract or the be-neficiaries of each such individual if deceased, in the aggregate, $250,000.00 in present value annuity benefits, including net cash surrender and net cash withdrawal values; or (iii) With respect to each payee of a structured settlement annuity (or beneficiary or beneficiaries of the payee if deceased) for which coverage is provided under subdivision 4153(a)(3) of this title, $250,000.00 in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values, if any; (iv) With respect to any one contract holder covered by any unallocated annuity contract not included in subdivision (B)(ii) of this subdivision (8), $5,000,000.00 in benefits, irrespective of the number of such contracts held by that contract holder; and (v) Provided, however, that in no event shall the association be liable to expend more than $300,000.00 in the aggregate with respect to any one individual under subdivisions (B)(i)(I), (B)(i)(II)(aa) and (bb), B(i)(III), (B)(ii), and (B)(iii) of this subdivision (8); and provided further, however, that in no event shall the association be liable to expend more than $500,000.00 in the aggregate with respect to any one individual under subdivision (B)(i)(II)(cc) of this subdivision (8). Amended effective 7.1.2010.
§38.2-1700.D.2. With respect to: a. One life, regardless of the number of policies or contracts: (1) $300,000 in life insurance death benefits, but not more than $100,000 in net cash surrender and net cash withdrawal values for life insurance; (2) In health insurance benefits, (i) $100,000 for coverage not defined as disability insurance, basic hospital, medical and surgical insurance, major medical insurance or long-term care insurance including any net cash surrender and net cash withdrawal values; (ii) $300,000 for accident and sickness insurance that constitutes disability insurance or long-term care insurance; and (iii) $500,000 for accident and sickness insurance that constitutes basic hospital medical and surgical insurance or major medical insurance; and (3) $250,000 in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; b. Each individual participating in a benefit plan established under Section 401, 403(b) or 457 of the U.S. Internal Revenue Code who (i) selected an investment option that includes investment in unallocated annuity contracts and (ii) is covered by such an unallocated annuity contract, including the beneficiaries of each such individual if deceased, in the aggregate, $250,000 in present value of annuity benefits, including net cash surrender and net cash withdrawal values; c. Each payee of a structured settlement annuity (or beneficiary or beneficiaries of the payee if deceased), $250,000 in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values, if any; and d. One plan sponsor whose plans own directly or in trust one or more unallocated annuity contracts part or all of any of which is not included in subdivision 2 b, $5 million in benefits, irrespective of the number of contracts with respect to the plan sponsor. However, in the case where one or more unallocated annuity contracts are covered contracts under this chapter and are owned by a trust or other entity for the benefit or two or more plan sponsors, coverage shall be afforded by the Association if the largest interest in the trust or entity owning the contract or contracts is held by a plan sponsor whose principal place of business is in the Commonwealth and in no event shall the Association be obligated to cover more than $5 million in benefits with respect to all such unallocated contracts. In no event shall the Association be obligated to cover (i) more than an aggregate of $350,000 in benefits with respect to any one life under subdivisions D 2 a, b, and c except with respect to benefits for basic hospital, medical and surgical insurance, and major medical insurance under subdivision D 2 a (2), in which case the aggregate liability of the Association shall not exceed $500,000 with respect to any one individual, or (ii) with respect to one owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation, or other person, and whether the persons insured are officers, managers, employees, or other persons, more than $5 million in benefits, regardless of the number of policies and contracts held by the owner. Amended effective 7/1/2010.
§48.32A. Section 3(3)(b)(i) With respect to one life, regardless of the number of policies or contracts: (A) Five hundred thousand dollars in life insurance death benefits, but not more than five hundred thousand dollars in net cash surrender and net cash withdrawal values for life insurance; (B) In disability insurance benefits: (I) Five hundred thousand dollars for coverages not defined as disability income insurance or basic hospital, medical, and surgical insurance or major medical insurance including any net cash surrender and net cash withdrawal values; (II) Five hundred thousand dollars for disability income insurance; (III) Five hundred thousand dollars for basic hospital medical and surgical insurance or major medical insurance; or (C) Five hundred thousand dollars in the present value of annuity benefits, including cash surrender values; (ii) With respect to each individual participating in a governmental retirement benefit plan established under section 401, 403(b), or 457 of the United States Internal Revenue Code covered by an unallocated annuity contract or the beneficiaries of each such individual if deceased, in the aggregate, one hundred thousand dollars in present value annuity benefits, including cash surrender values; (iii) With respect to each payee of a structured settlement annuity, or beneficiary or beneficiaries of the payee if deceased, five hundred thousand dollars in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal values, if any; (iv) However, in no event shall the association be obligated to cover more than: (A) An aggregate of five hundred thousand dollars in benefits with respect to any one life under (i), (ii), and (iii) of this subsection (3)(b) except with respect to benefits for basic hospital, medical, and surgical insurance and major medical insurance under (i)(B) of this subsection (3)(b), in which case the aggregate liability of the association shall not exceed five hundred thousand dollars with respect to any one individual; or (B) with respect to one owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation, or other person, and whether the persons insured are officers, managers, employees, or other persons, more than five million dollars in benefits, regardless of the number of policies and contracts held by the owner; (v) With respect to either: (A) One contract owner provided coverage under subsection (1)(d)(ii) of this section; or (B) one plan sponsor whose plans own directly or in trust one or more unallocated annuity contracts not included in (ii) of this subsection (3)(b), five million dollars in benefits, irrespective of the number of contracts with respect to the contract owner or plan sponsor. Amended effective 7/22/01.
§33-26A-3(c)(2). (2)(A) With respect to any one life, regardless of the number of policies or contracts: (i) Three hundred thousand dollars in life insurance death benefits, but no more than $100,000 in net cash surrender and net cash withdrawal values for life insurance; (ii) In health insurance benefits: (I) One hundred thousand dollars for coverages not defined as disability insurance or basic hospital, medical and surgical insurance or major medical insurance or long-term care insurance as defined in section four, article fifteen-a, of this chapter, including any net cash surrender and net cash withdrawal values; (II) Three hundred thousand dollars for disability insurance and $300,000 for long-term care insurance as defined in section four, article fifteen-a of this chapter; (III) $500,000 for basic hospital, medical and surgical insurance or major medical insurance; or (iii) $250,000 in the present value of annuity benefits, including net cash surrender and net cash withdrawal values; (B) With respect to each individual participating in a governmental retirement plan established under section 401, 403(b) or 457 of the United States Internal Revenue Code covered by an unallocated annuity contract or the beneficiaries of each such individual if deceased, in the aggregate, $250,000 in present value annuity benefits, including net cash surrender and net cash withdrawal values. (C) With respect to each payee of a structured settlement annuity, or beneficiary or beneficiaries of the payee if deceased, $250,000 in present value annuity benefits, in the aggregate, including net cash surrender and net cash withdrawal value; (D) However, in no event shall the association be obligated to cover more than: (i) An aggregate of $300,000 in benefits with respect to any one life under paragraphs (A), (B) and (C) of this subdivision except with respect to benefits for basic hospital, medical and surgical insurance and major medical insurance under subparagraph (ii), paragraph (A) of this subdivision, in which case the aggregate liability of the association shall not exceed $500,000 with respect to any one individual, or (ii) With respect to one owner of multiple nongroup policies of life insurance, whether the policy owner is an individual, firm, corporation or other person, and whether the persons insured are officers, managers, employees or other persons, more than $5 million in benefits, regardless of the number of policies and contracts held by the owner. (E) With respect to either one contract owner provided coverage under paragraph (B), subdivision (3), subsection (a) of this section or one plan sponsor whose plans own directly or in trust one or more unallocated annuity contracts not included in paragraph (B), subdivision (2) of this subsection, $5 million in benefits, irrespective of the number of contracts with respect to the contract owner or plan sponsor. However, in the case where one or more unallocated annuity contracts are covered contracts under this article and are owned by a trust or other entity for the benefit of two or more plan sponsors, coverage shall be afforded by the association if the largest interest in the trust or entity owning the contract or contracts is held by a plan sponsor whose principal place of business is in this state. In no event shall the association be obligated to cover more than $5 million in benefits with respect to all of these unallocated contracts. (Amended effective 7.10.09).

References: §23
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§508

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§4603
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§500

§61

§83

§686

§17

§7708

§26

§2025

§ 734
 §991
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§38

§463

§31

§4158

§38

§48

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