Illinois Life and Health Insurance Guaranty

Established in 1980 by the Illinois General Assembly, our organization serves as a critical safety net for Illinois residents facing life, health, and annuity insurance policy risks due to insurer insolvencies. We operate under the statutory authority of the Illinois Life and Health Insurance Guaranty Association Act, providing protection through court-authorized interventions such as claim payments, policy continuation, and transfers to solvent insurers. Our membership comprises all life and health insurers licensed in Illinois, ensuring collective responsibility for policyholder protection. We maintain strict adherence to statutory limits while determining coverage based on policy language at the time of insolvency. Our operations are funded through assessments paid by solvent member insurers, maintaining financial integrity while fulfilling our public protection mandate. We provide transparent information about residency-based coverage eligibility and statutory protections, including specific limits for life insurance ($300,000 death benefits), health insurance ($500,000 health benefit plan coverage), and annuities ($250,000 cash values).

We emphasize that our protections apply only to policies issued by member insurers and cannot modify statutory requirements or policy terms. Our team maintains comprehensive resources for policyholders affected by insolvencies, including detailed FAQs and contact information for the Illinois Department of Insurance. We actively communicate updates through official channels while disclaiming legal advice to ensure proper interpretation of coverage provisions. Our physical presence in Lisle, Illinois, supports our mission to protect Illinois residents during critical insurance disruptions.