Illinois Life & Health Insurance Guaranty Association 8420 W. Bryn Mawr Avenue, Suite 550 / Chicago, IL 60631-3404 Home About Us FAQs Receiverships Additional Info Links Terms of Use Contact Us Frequently Asked Questions      What types of policies or contracts are covered by the Association? The Association pays benefits and claims under the following types of policies and contracts: Life Insurance Policies Direct non-group life insurance policies and certificates issued under group life policies. Accident and Health Insurance Policies Direct non-group health insurance policies and certificates issued under group health insurance policies. Annuity Contracts (Allocated) Direct annuity contracts and certificates issued under group annuity contracts. Unallocated Annuity Contracts Any annuity contract or group annuity certificate which is not issued to and owned by an individual (except to the extent of any annuity benefits guaranteed to the individual by an insurer under such contract or certificate). However, the Association does not pay claims or provide benefits under: (a) any unallocated annuity contract issued to an employee benefit plan protected by the federal Pension Benefit Guaranty Association and (b) any portion of an unallocated annuity contract which is not used to fund benefit plans for natural persons or government lotteries. Contract holders of unallocated annuity contracts are covered, but no coverage is provided to individuals under unallocated annuity contracts because there is no contractual guaranty by the insurer to be specifically identified individuals under such contracts. The absence (or presence) or record keeping does not determine whether a contract should receive unallocated (or allocated) treatment. HMOs Not Covered Certificates under health maintenance organization plans are not covered by the Association. Other Exclusions Refer to the Act (Ill. Rev. Stat., ch. 73 1065.80-3) for other policies and contracts, or portions thereof, which are excluded from coverage.   NOTE: This information is not intended as legal advice, and no liability is assumed in connection with its use. The applicable state guaranty association statute is the controlling authority, regardless of any information presented on this site. Users should seek advice from a qualified attorney and should not rely on this compilation when considering any questions relating to guaranty association coverage.   [ Back to FAQ list ]