|
|
Welcome to the Montana Life & Health Insurance Guaranty Association
|
|
|
Welcome to the Montana Life & Health Insurance Guaranty Association website.
This site provides access to basic information about the purpose of the guaranty association and how it protects resident policyholders in the event an insurance company becomes insolvent.
Information on this site is written in non-technical language to give a general overview of the guaranty system and provide some resources for site visitors. The overview and resource references are intended to help insured persons and professional advisers address questions and issues about the protection afforded life and health insurance policies and annuity contracts.
The Montana Life & Health Insurance Guaranty Association (the "guaranty association") is a statutory entity that was created in 1974 when the Montana legislature enacted the Montana Guaranty Association Act. All insurers licensed to sell life insurance, accident and health insurance, and individual annuities in the state of Montana are members of the guaranty association. In the event that a court finds a member insurer to be insolvent and orders it to be liquidated, the guaranty association provides protection (up to the limits spelled out in the Guaranty Association Act) to Montana residents who hold covered policies and contracts with the insolvent insurer.
When a court orders an insolvent member insurer to be liquidated, a special deputy receiver takes... [ more ] |
| |
|
|
|
|
|
