The information provided below is in the “Public Domain”, and is not provided here to entice you to purchase an Annuity. As with any product or service that is offered to the public, we believe the consumer has a right to know and access all relevant facts that can either directly, or indirectly impact that product or service.

The “Insurance Guaranty Associations” provide protection to insurance policyholders and beneficiaries for policies issued by an insurance company that is no longer able to meet its obligations, which, is a very rare event. All of the 50 states, and the District of Columbia, have insurance guaranty associations.

If an insurance company has insufficient assets to pay policyholder claims, the guaranty association will obtain funds by assessing member insurers that write the same type of business as the insurer unable to meet its financial obligations to policyholders and/or Beneficiaries. These assessments (together with the assets of the insurer) are then used to pay, up to statutory limits, the covered claims of policyholders and Beneficiaries.  An association may also provide continued coverage for the policyholder, or transfer policies to insurance companies that are in good financial health.

The amount of coverage provided by the guaranty association is set by state statute and differs from state to state. For Annuities the amount ranges from $250,000 to $500,000.