Protecting Alaskans' Insurance Coverage
Welcome to the Alaska Life & Health Insurance Guaranty Association's website. As a statutory entity created in 1990, we are dedicated to protecting Alaska residents who are policyholders and beneficiaries of policies issued by an insolvent insurance company. Our primary goal is to provide financial protection to ensure that policyholders continue to receive the benefits they are entitled to in the event of an insurance company insolvency.
Our Mission
The Alaska Life & Health Insurance Guaranty Association was established by the Alaska legislature to protect policyholders and beneficiaries from financial loss in the event of an insurance company's insolvency. We are committed to ensuring that policyholders continue to receive the benefits they are entitled to, as mandated by Alaska law.
Our Services
As a guaranty association, we are responsible for providing financial protection to policyholders in the event of an insurance company's insolvency. Our services include:
- Providing financial protection to policyholders in the event of an insurance company's insolvency
- Ensuring that policyholders continue to receive the benefits they are entitled to, as mandated by Alaska law
- Working with courts and regulatory agencies to liquidate the assets of the insolvent insurance company
- Providing coverage to Alaska residents who are holders of life and health insurance policies and individual annuities with the insolvent insurer
Types of Policies We Cover
We cover a wide range of policies, including:
- Life insurance policies
- Health insurance policies
- Individual annuity contracts
- Group insurance policies
- Individual or group long-term care insurance policies
Limitations and Exceptions
While we do our best to provide comprehensive coverage, there may be some limitations and exceptions to our services. Please note that:
- Coverage is limited to a maximum amount of $300,000 per insured for life insurance death benefits
- Policies issued by companies that have voluntarily withdrawn from participation in the guaranty association may not be covered
- Policies that have a special provision excluding coverage by the guaranty association may not be covered
Conclusion
In conclusion, the Alaska Life & Health Insurance Guaranty Association is committed to protecting Alaska residents who are policyholders and beneficiaries of policies issued by an insolvent insurance company. We strive to provide financial protection to ensure that policyholders continue to receive the benefits they are entitled to, as mandated by Alaska law.
