California Life & Health Insurance Guarantee Association Home About Us FAQs Receiverships Additional Info Contact Us Board Portal View All Frequently Asked Questions What happens when my insurance company goes out of business? Is my company covered by the California Life and Health Insurance Guarantee Association (“Guarantee Association")? If my company is liquidated, do I have to file a claim with the California Life and Health Insurance Guarantee Association? Should I continue to pay my premiums? How is policy coverage determined? What is the California Life & Health Insurance Guarantee Association? What protection do I have if my life or health insurance company becomes insolvent? What kinds of insurance policies does the Guarantee Association protect? How is protection provided? What kinds of plans, policies, and benefits are not protected by the California Life and Health Insurance Guarantee Association? Are variable annuities covered by the guaranty association? What happens if the benefits promised in my policy are greater than the coverage limits provided by the Guarantee Association? Are covered life insurance and annuity policies fully protected? Is my claim against the insolvent insurer affected by the Guarantee Association? I have a $300,000 life insurance policy. If I die after my insurance company becomes insolvent, what will my beneficiary receive? The cash surrender value of my life insurance policy is $135,000. If my company becomes insolvent, how much will be protected? If I bought three annuities each worth $250,000 from a company that becomes insolvent, how much is protected? My spouse and I each have an annuity contract worth $200,000. Does the $250,000 limit apply to us jointly? Does the Guarantee Association protect my Individual Retirement Annuity (IRA)? Are covered health insurance policies fully protected? Is long-term-care insurance covered by the guaranty association? I have life and health insurance coverage through my employer. Am I protected? How will I know if my life or health insurance company has become insolvent? How long will I have to wait to receive the protection provided by the Guarantee Association? Where does the Guarantee Association get the money to provide this protection? Does it matter where I live? What if I move to another state after buying insurance? I am a resident of California and I have a policy issued by an insurance company that is not licensed in California. Will I receive protection from the California Life and Health Insurance Guarantee Association if this insurance company becomes insolvent? Why hasn't my agent or company told me more about the Guarantee Association? How can I find out if my company is licensed in California? Are you a State agency? How can I get more information about the Guarantee Association? Where can I get advice on purchasing life, health, or annuity products? How can I determine the financial soundness of an insurance company? If my company is in the process of rehabilitation/conservation and I have an emergency and need to withdraw monies from my annuity, what is the process? 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. California Life & Health Insurance Guarantee Association 2377 Gold Meadow Way, Suite 100 / Gold River, CA 95670 © 2001-2021 All Rights Reserved. Terms / Links