Maine Life & Health Insurance

Welcome to the Maine Life & Health Insurance Guaranty Association, an entity established in 1983 by the Maine legislature to protect state residents who are policyholders and beneficiaries of policies issued by an insolvent insurance company. Our primary mission is to provide a safety net for Maine residents in the event of an insurance company's insolvency, ensuring that they continue to receive the life and health insurance coverage they need and deserve.

The guaranty association is made up of all insurance companies licensed to sell life insurance, accident and health insurance, and individual annuities in the state of Maine. We work closely with these companies, as well as regulatory bodies and other stakeholders, to ensure that we are prepared to step in and provide continuing coverage in the event of an insolvency.

Our Services

When an insurance company is found to be insolvent and is ordered to be liquidated by a court, the Maine Life & Health Insurance Guaranty Association assumes responsibility for servicing the company's policies and providing coverage to Maine residents. This includes paying claims and benefits, as well as administering policies and contracts in accordance with Maine law and the language of the insolvent company's policies at the time of insolvency.

It is important to note that the protection provided by the guaranty association is based on Maine law and the specific language of the insolvent company's policies. As such, we cannot make statements regarding coverage of a specific policy unless it is a policy with a company for which the association has been activated to provide protection. Additionally, this website is for general information purposes only and should not be relied upon as legal advice.

How We Operate

When an insolvent insurance company is liquidated, a special deputy receiver takes over the company under court supervision and processes the assets and liabilities through liquidation. The guaranty association works closely with the receiver to ensure a smooth transition and minimize disruption to policyholders.

We make every effort to ensure that the information provided on this website is in accordance with the most current law. However, if there should be any inconsistency between the Guaranty Association Act or any other law or regulation and the information on this website, the relevant law will supersede.

Our Commitment to Maine Residents

The Maine Life & Health Insurance Guaranty Association is committed to providing continuing coverage and peace of mind to Maine residents in the event of an insurance company's insolvency. We are here to help and support policyholders through what can be a difficult and uncertain time, and to ensure that they receive the coverage and benefits they are entitled to.

We hope you find this website helpful in providing information regarding the purpose of the guaranty association and how it protects Maine policyholders. If you have any questions or concerns, please refer to our Frequently Asked Questions section or use the Contact Us section to get in touch with us directly.