What does my state guaranty association actually cover?
Every state runs a life and health insurance guaranty association that protects policyholders if a carrier licensed in that state becomes insolvent. For annuities, most states guarantee the present value of your contract up to $250,000 per person, per company, though the figure ranges from $100,000 in a few states to $500,000 in states like New York, Connecticut and Washington. This is a backstop, not a substitute for choosing a financially strong carrier in the first place. It exists specifically for the rare case where a carrier cannot pay, and it works alongside state capital requirements and financial strength ratings, not instead of them.
Guaranty coverage limits by state
Each state sets its own limits by statute, and they are not identical. The table below shows the maximum present value of an annuity contract, the maximum life insurance death benefit, the maximum life insurance cash value, and the maximum combined benefit an individual can collect from one guaranty association if one carrier fails.
| State | Annuity present value | Life death benefit | Life cash value | Combined maximum |
|---|---|---|---|---|
| Alabama | $250,000 | $300,000 | $100,000 | $300,000 |
| Alaska | $100,000 | $300,000 | $100,000 | $300,000 |
| Arizona | $250,000 | $300,000 | $100,000 | $300,000 |
| Arkansas | $300,000 | $300,000 | $300,000 | $300,000 |
| California | 80% up to $250,000 | 80% up to $300,000 | 80% up to $100,000 | 80% up to $300,000 |
| Colorado | $250,000 | $300,000 | $100,000 | $300,000 |
| Connecticut | $500,000 | $500,000 | $500,000 | $500,000 |
| Delaware | $250,000 | $300,000 | $100,000 | $300,000 |
| District of Columbia | $300,000 | $300,000 | $100,000 | $300,000 |
| Florida | $250,000 | $300,000 | $100,000 | $300,000 |
| Georgia | $250,000 | $300,000 | $100,000 | $300,000 |
| Hawaii | $100,000 | $300,000 | $100,000 | $300,000 |
| Idaho | $250,000 | $300,000 | $100,000 | $300,000 |
| Illinois | $250,000 | $300,000 | $100,000 | $300,000 |
| Indiana | $250,000 | $300,000 | $100,000 | $300,000 |
| Iowa | $250,000 | $300,000 | $100,000 | $300,000 |
| Kansas | $250,000 | $300,000 | $100,000 | $300,000 |
| Kentucky | $250,000 | $300,000 | $100,000 | $300,000 |
| Louisiana | $250,000 | $300,000 | $100,000 | $500,000 |
| Maine | $250,000 | $300,000 | $100,000 | $300,000 |
| Maryland | $250,000 | $300,000 | $100,000 | $300,000 |
| Massachusetts | $250,000 | $300,000 | $100,000 | $300,000 |
| Michigan | $250,000 | $300,000 | $100,000 | $300,000 |
| Minnesota | $250,000 | $500,000 | $130,000 | $500,000 |
| Mississippi | $100,000 | $300,000 | $100,000 | $300,000 |
| Missouri | $100,000 | $300,000 | $100,000 | $300,000 |
| Montana | $250,000 | $300,000 | $100,000 | $300,000 |
| Nebraska | $250,000 | $300,000 | $100,000 | $300,000 |
| Nevada | $250,000 | $300,000 | $100,000 | $300,000 |
| New Hampshire | $100,000 | $300,000 | $100,000 | $300,000 |
| New Jersey | $250,000 | $500,000 | $100,000 | $500,000 |
| New Mexico | $250,000 | $300,000 | $100,000 | $300,000 |
| New York | $500,000 | $500,000 | $500,000 | $500,000 |
| North Carolina | $300,000 | $300,000 | $300,000 | $300,000 |
| North Dakota | $250,000 | $300,000 | $100,000 | $300,000 |
| Ohio | $250,000 | $300,000 | $100,000 | $300,000 |
| Oklahoma | $300,000 | $300,000 | $100,000 | $300,000 |
| Pennsylvania | $100,000 | $300,000 | $100,000 | $300,000 |
| Puerto Rico | $100,000 | $300,000 | $100,000 | $300,000 |
| Rhode Island | $250,000 | $300,000 | $100,000 | $300,000 |
| South Carolina | $300,000 | $300,000 | $300,000 | $300,000 |
| South Dakota | $250,000 | $300,000 | $100,000 | $300,000 |
| Tennessee | $250,000 | $300,000 | $100,000 | $300,000 |
| Texas | $250,000 | $300,000 | $100,000 | $300,000 |
| Utah | $200,000 | $500,000 | $200,000 | $500,000 |
| Vermont | $250,000 | $300,000 | $100,000 | $300,000 |
| Virginia | $250,000 | $300,000 | $100,000 | $350,000 |
| Washington | $500,000 | $500,000 | $500,000 | $500,000 |
| West Virginia | $250,000 | $300,000 | $100,000 | $300,000 |
| Wisconsin | $300,000 | $300,000 | $300,000 | $300,000 |
| Wyoming | $250,000 | $300,000 | $100,000 | $500,000 |
These limits are for general reference only and are not an offer, solicitation or guarantee of coverage. Confirm current figures with your state insurance department before relying on them, since state legislatures do update these caps from time to time.
How to reach your state guaranty association
Sort by state to find the address, phone number and website for the organization that would step in if a carrier failed.
| State | Association and address | Phone and website |
|---|---|---|
| AL | Alabama Life & Disability Insurance Guaranty Association, 2009 Eagle Ridge Drive, Birmingham, AL 35242 | 205-879-2202, allifega.org |
| AK | Alaska Life & Health Insurance Guaranty Association, PO Box 241407, Anchorage, AK 99524-1407 | 907-243-2311, aklifega.org |
| AZ | Arizona Life & Disability Insurance Guaranty Fund, 2901 N. 7th Street, Phoenix, AZ 85014-5400 | 602-254-5866, difi.az.gov |
| AR | Arkansas Life & Disability Insurance Guaranty Association, 1023 W. Capitol Avenue, Suite 4, Little Rock, AR 72201 | 501-375-9131, arlifega.org |
| CA | California Life & Health Insurance Guarantee Association, PO Box 88012, Los Angeles, CA 90009-8012 | 818-565-6999, califega.org |
| CO | Colorado Life & Health Insurance Protection Association, PO Box 36009, Denver, CO 80236 | 303-292-5022, colifega.org |
| CT | Connecticut Life & Health Insurance Guaranty Association, PO Box 600, East Glastonbury, CT 06025-0600 | 860-282-6006, ctlifega.org |
| DC | District of Columbia Life & Health Insurance Guaranty Association, 1922 F Street NW, Suite 340, Washington, DC 20006 | 202-434-8771, dclifega.org |
| DE | Delaware Life & Health Insurance Guaranty Association, PO Box 624, Newark, DE 19715 | 302-456-3656, delifega.org |
| FL | Florida Life & Health Insurance Guaranty Association, PO Box 14265, Tallahassee, FL 32317 | 850-386-9200, flahiga.org |
| GA | Georgia Life & Health Insurance Guaranty Association, 2500 Northwinds Parkway, Suite 330, Alpharetta, GA 30009 | 770-624-2455, gaiga.org |
| HI | Hawaii Life & Disability Insurance Guaranty Association, PO Box 4068, Honolulu, HI 96812-4068 | 808-733-9204, hilifega.org |
| ID | Idaho Life & Health Insurance Guaranty Association, PO Box 943, Boise, ID 83701 | 208-342-3854, idlifega.org |
| IL | Illinois Life & Health Insurance Guaranty Association, 221 N. LaSalle Street, Suite 1700, Chicago, IL 60601 | 312-422-9700, ilhiga.org |
| IN | Indiana Life & Health Insurance Guaranty Association, 3502 Woodview Trace, Suite 100, Indianapolis, IN 46268 | 317-636-8204, inlifega.org |
| IA | Iowa Life & Health Insurance Guaranty Association, 700 Walnut Street, Suite 1600, Des Moines, IA 50309 | 515-243-5025, ialifega.org |
| KS | Kansas Life & Health Insurance Guaranty Association, 2909 SW Maupin Lane, Topeka, KS 66614 | 785-273-6745, kslifega.org |
| KY | Kentucky Life & Health Insurance Guaranty Association, 10200 Forest Green Blvd., Suite 14, Louisville, KY 40223 | 502-327-0850, klhiga.org |
| LA | Louisiana Life & Health Insurance Guaranty Association, 2020 Quail Drive, Baton Rouge, LA 70808 | 225-927-4337, lalifega.org |
| ME | Maine Life & Health Insurance Guaranty Association, PO Box 7317, Portland, ME 04112 | 207-878-8844, melifega.org |
| MD | Maryland Life & Health Insurance Guaranty Corporation, 7920 Norfolk Avenue, Suite 510, Bethesda, MD 20814 | 301-362-3415, mdlifega.org |
| MA | Massachusetts Life & Health Insurance Guaranty Association, 10 Charles Street, Suite 231, Needham, MA 02494 | 781-251-0551, malhia.com |
| MI | Michigan Life & Health Insurance Guaranty Association, PO Box 80220, Lansing, MI 48908-0220 | 517-220-0850, milifega.org |
| MN | Minnesota Life & Health Insurance Guaranty Association, 80 South 8th Street, Suite 2020, Minneapolis, MN 55402 | 612-397-9100, mnlifega.org |
| MS | Mississippi Life & Health Insurance Guaranty Association, PO Box 16843, Jackson, MS 39236-6843 | 601-981-9996, mslifega.org |
| MO | Missouri Life & Health Insurance Guaranty Association, 994 Diamond Ridge, Jefferson City, MO 65109 | 573-634-8455, mo-iga.org |
| MT | Montana Life & Health Insurance Guaranty Association, PO Box 577, Great Falls, MT 59403 | 406-761-0199, mtlifega.org |
| NE | Nebraska Life & Health Insurance Guaranty Association, PO Box 487, La Vista, NE 68148 | 402-397-9770, nelifega.org |
| NV | Nevada Life & Health Insurance Guaranty Association, 8440 West Lake Mead Blvd., Suite 201, Las Vegas, NV 89128 | 702-243-5631, nvlifega.org |
| NH | New Hampshire Life & Health Insurance Guaranty Association, PO Box 1084, Concord, NH 03302-1084 | 603-225-2515, nhlifega.org |
| NJ | New Jersey Life & Health Insurance Guaranty Association, 521 West South Orange Avenue, South Orange, NJ 07079 | 973-795-3999, njlifega.org |
| NM | New Mexico Life & Health Insurance Guaranty Association, PO Box 14520, Albuquerque, NM 87191 | 505-266-7000, nmlifega.org |
| NY | New York Life Insurance Company Guaranty Corporation, 122 E 42nd Street, New York, NY 10168 | 212-578-2211, nylifega.org |
| NC | North Carolina Life & Health Insurance Guaranty Association, PO Box 10218, Raleigh, NC 27605 | 919-833-6838, nclifega.org |
| ND | North Dakota Life & Health Insurance Guaranty Association, PO Box 2431, Bismarck, ND 58502-2431 | 701-223-6050, ndlifega.org |
| OH | Ohio Life & Health Insurance Guaranty Association, 4019 Executive Park Drive, Suite 200, Cincinnati, OH 45241 | 513-351-6000, olhiga.org |
| OK | Oklahoma Life & Health Insurance Guaranty Association, 201 Robert S. Kerr Avenue, Suite 600, Oklahoma City, OK 73102 | 405-236-6060, oklifega.org |
| OR | Oregon Life & Health Insurance Guaranty Association, PO Box 40157, Portland, OR 97240 | 503-222-1963, orlifega.org |
| PA | Pennsylvania Life & Health Insurance Guaranty Association, 290 King of Prussia Road, Radnor, PA 19087 | 610-975-0575, palifega.org |
| RI | Rhode Island Life & Health Insurance Guaranty Association, 235 Promenade Street, Suite 500, Providence, RI 02908 | 401-273-0681, rilifega.org |
| SC | South Carolina Life & Accident & Health Insurance Guaranty Association, 121 Executive Center Drive, Suite 110, Columbia, SC 29210 | 803-798-6966, sclifega.org |
| SD | South Dakota Life & Health Insurance Guaranty Association, PO Box 175, Sioux Falls, SD 57101-0175 | 605-334-3800, sdlifega.org |
| TN | Tennessee Life & Health Insurance Guaranty Association, PO Box 410806, Nashville, TN 37241-0806 | 615-242-2400, tnlifega.org |
| TX | Texas Life & Health Insurance Guaranty Association, 6504 Bridge Point Parkway, Suite 450, Austin, TX 78730 | 512-476-5931, txlifega.org |
| UT | Utah Life & Health Insurance Guaranty Association, PO Box 17939, Salt Lake City, UT 84117-0939 | 801-538-3863, ulhiga.org |
| VT | Vermont Life & Health Insurance Guaranty Association, 1540 Williston Road, South Burlington, VT 05403 | 802-864-6835, vtlifega.org |
| VA | Virginia Life, Accident & Sickness Insurance Guaranty Association, PO Box 11984, Richmond, VA 23230-1984 | 804-282-2240, valifega.org |
| WA | Washington Life & Disability Insurance Guaranty Association, PO Box 302, Seattle, WA 98111 | 206-464-1958, walifega.org |
| WV | West Virginia Life & Health Insurance Guaranty Association, PO Box 816, Huntington, WV 25712 | 304-525-4441, wvlifega.org |
| WI | Wisconsin Insurance Security Fund, 2820 Walton Commons W., Suite 135, Madison, WI 53718 | 608-242-9473, wilifega.org |
| WY | Wyoming Life & Health Insurance Guaranty Association, PO Box 857, Cheyenne, WY 82003-0857 | 307-632-2668, wylifega.org |
What a state guaranty association is for
Think of a guaranty association as an industry-funded insurance policy on the insurance company itself. If a licensed carrier in your state cannot meet its obligations, the association steps in and continues coverage up to the limits your state has set, so a policyholder is not simply left with nothing.
These associations do not operate in isolation. They coordinate through the National Organization of Life and Health Insurance Guaranty Associations, a national body that helps member associations manage a carrier failure across state lines when a company was licensed in more than one place.
The details of what is covered, and how much, run deeper than a single table can capture. Your state insurance department is the authority to call with questions about a specific policy before you buy it, and our state insurance department directory has the contact for every state.
Why the carrier's rating still comes first
A guaranty association is a safety net, not a reason to skip due diligence on the carrier itself. Before you look at what a fund would cover if something went wrong, look at the odds that it ever needs to. That means checking the insurer's financial strength rating from AM Best, and from S&P, Moody's or Fitch where available, before you compare the rate on the page. Our insurance company ratings guide explains how to read those grades.
Agents in most states are restricted from leading with the guaranty association when they talk to you about a purchase, which is one reason many buyers have never heard of theirs. That does not make the coverage less real. It simply means you may need to look it up yourself, which is exactly what this page is for.
The bottom line
Every state maintains a guaranty fund, state law sets both the lines of coverage and the dollar limits, and the specifics differ enough from state to state that it is worth checking yours directly. Use this page as a starting point, then confirm the current number with your state before you place a deposit larger than the limit with any single carrier. If you are comparing carriers and want a strategist to walk through both the rating and the guaranty limit for your state, you can request a free quote and we will cover both.
Written and reviewed by
James Forren Warren
Licensed Retirement Income Strategist · License #20551202
James Forren Warren is a licensed Retirement Income Strategist with Tax Free Wealth Plan. For the past five years he has helped individuals and families turn their savings into retirement income they can count on. He writes and reviews the annuity research on this site and keeps it plain: what a product does, what it costs you, and who it actually fits.
Sources
Educational only, not investment, tax or legal advice. Tax Free Wealth Plan LLC is a licensed insurance agency, not a registered investment adviser or broker-dealer. Annuities are not bank deposits, are not FDIC insured and are not guaranteed by any government agency. Guarantees are backed solely by the claims-paying ability of the issuing insurance company. Features, rates and availability vary by state and change over time; the contract and disclosure documents govern.