Business Details
49 Years
experience
Protecting Idaho Policyholders Since 1977
Established in 1977 by the Idaho Legislature, our organization serves as a critical safety net for Idaho residents holding life, health, and annuity policies. We step in when member insurers become insolvent, ensuring continued coverage and claims processing up to statutory limits. Our operations are governed by the Idaho Life and Health Insurance Guaranty Association Act, which outlines protections for policyholders during liquidation proceedings.We work collaboratively with state insurance departments and other guaranty associations to maintain policy continuity, adhering strictly to statutory guidelines and policy terms. Our non-profit structure is funded through assessments on solvent member insurers, ensuring financial stability while protecting Idaho residents' insurance investments.
Services
Insurance Guaranty Protection
Policyholder Support
Coverage Determination
Claims Processing
Insurance Information
Details
- Year established: 1977
Highlights and features
- We provide statutory insurance protections established by Idaho law since 1977
- Our coverage extends up to $500,000 for major medical claims
- We operate under strict statutory guidelines ensuring policy continuity
- Our protections cover Idaho residents through liquidation proceedings
- We collaborate with state insurance departments and national associations
Services
Insurance Guaranty Protection
We provide statutory insurance protections when member companies fail. Our coverage applies to life, health, and annuity policies up to specified limits. Policyholders maintain benefits through continued premium payments during liquidation proceedings.
Policyholder Support
We assist Idaho residents with policy transitions during insurer insolvencies. Our support includes coverage continuation guidance and claims processing assistance. We maintain policy terms under Idaho law and statutory protections.
Coverage Determination
We evaluate policy coverage based on original terms and Idaho law. Determinations consider statutory limits and liquidation status. Our assessments guide benefit continuation and claims processing for affected policyholders.
Claims Processing
We manage claims processing during insurer liquidations. Our procedures maintain benefit payments within statutory limits. Policyholders receive guidance about claims submission and payment continuation through our administrative processes.
Insurance Information
We provide detailed information about insurance protections and liquidation procedures. Our resources explain coverage limits, policy continuation options, and statutory requirements. We maintain informational materials about insurer licensing and financial stability assessments.
Questions
What happens when my insurance company becomes insolvent?
We continue coverage up to statutory limits if premiums are paid. Policies may transfer to another insurer or remain with us, maintaining original terms and Idaho law protections.
What coverage limits apply to my policy?
Coverage limits include $300,000 for life insurance death benefits, $500,000 for major medical claims, and $250,000 for annuity cash values, with aggregate limits per insured life.
How do I verify if my insurer is licensed in Idaho?
Contact the Idaho Department of Insurance at 208-334-4250 or check their website for current licensing information about your insurance provider.
Are long-term care policies protected?
Yes, long-term care insurance policies qualify for coverage as health insurance under our statutory protections during member insurer liquidations.
What happens to my annuity contract?
Individual annuity contracts receive protection up to $250,000 cash surrender value, with major medical benefits protected up to $500,000 under Idaho's statutory framework.
