Business Details
48 Years
experience
Indiana Insurance Policy Protection Experts
The Indiana Life and Health Insurance Guaranty Association is a non-profit statutory entity established in 1978 to protect Indiana residents' life, health, and annuity policies when member insurers become insolvent. We operate under Indiana law, providing coverage up to statutory limits by assuming policy obligations or transferring them to solvent insurers. Our team collaborates with court-appointed receivers and regulatory bodies to ensure seamless policyholder protection during liquidation processes. With decades of experience managing insurance insolvencies, we prioritize transparency in claims processing and maintain strict compliance with evolving legal frameworks.Our expertise lies in navigating complex insurance liquidations while upholding statutory limitations and policyholder rights. As a trusted industry authority, we provide reliable financial safeguards through assessments on member insurers and distributions from insolvent estates. Our commitment to policyholder education is demonstrated through comprehensive resources explaining coverage limitations and claim procedures.
Services
Life Insurance Coverage
Health Insurance Protection
Annuity Policy Guaranty
Structured Settlements
Policyholder Claims Processing
Details
- Year established: 1978
Highlights and features
- We are a statutory entity established by Indiana law in 1978 with proven expertise in insurance liquidations
- Our coverage protects policyholders up to specific statutory limits for life, health, and annuity policies
- We maintain transparent claims processing procedures approved by Indiana Department of Insurance
- Our team collaborates with national guaranty associations for cross-state policyholder protection
- We provide detailed coverage explanations through official FAQs and legal documentation
Services
Life Insurance Coverage
We provide statutory protection for life insurance policies when member insurers become insolvent. Our coverage includes death benefits up to $300,000 and cash surrender values up to $100,000 per insured. This service ensures policyholders maintain essential benefits during insurance company liquidations while adhering to Indiana Code regulations.
Health Insurance Protection
Our health insurance protection covers policies up to $500,000 for major medical benefits and $300,000 for long-term care policies. This service applies to Indiana residents when member insurers fail, ensuring continued healthcare coverage through statutory guarantees while maintaining compliance with post-2013 legislative amendments.
Annuity Policy Guaranty
We guarantee annuity contracts up to $250,000 in present value benefits per annuitant. This service covers non-structured settlement annuities issued by insolvent member companies, providing financial security while adhering to statutory limitations and distribution protocols during insurance liquidations.
Structured Settlements
Our structured settlement coverage protects payees up to $250,000 in present value benefits. This service applies specifically to court-ordered payment arrangements when member insurers fail, ensuring continued payments according to statutory guidelines and contractual obligations.
Policyholder Claims Processing
We manage claims processing for covered policies during insurance company liquidations. This service includes benefit continuation, coverage determination, and coordination with court-appointed receivers to ensure timely payments while maintaining compliance with Indiana's guaranty association regulations.
Questions
What happens if my insurance company becomes insolvent?
We provide coverage up to statutory limits for Indiana residents' life, health, and annuity policies when member insurers are liquidated by court order.
How are coverage limits determined?
Coverage limits depend on liquidation date: $300,000 death benefit and $250,000 annuity limits apply for insolvencies after January 1, 2013.
What types of policies are protected?
We cover life insurance, health insurance (including LTC and disability), and annuity contracts issued by Indiana-licensed insurers.
How do I check my insurer's status?
Contact the Indiana Department of Insurance at 317-232-2385 to verify an insurer's authorization and membership status.
How are claims processed?
Court-appointed receivers handle initial claims while we coordinate benefit continuation and coverage determination according to statutory guidelines.
Where can I find financial information?
Annual financial statements are available through our office at 317-636-8204 and comply with Indiana Code 27-8-8 regulations.
