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      Who is covered by the Association? The Association is obligated to provide benefits to the following persons: Resident Policyowners, Certificateholders or Contract Holders The Association protects owners or certificate holders of the covered policies or contracts listed in Question 5, and contract holders of unallocated annuity contracts, who are residents of Illinois at the time of the insolvency. Nonresident Policyowners, Certificateholders and Contract Holders Are Generally Not Covered Nonresident policy owners, certificate holders and contract holders are covered only if all of the four following conditions are met: a. The insurer which issued the policy or contract is domiciled in Illinois; b. Such insurer never held a license or certificate of authority in the state in which such policy owner or certificate holder (or contract holder in the case of an unallocated annuity contract) resides; c. Such other state has an association similar to the Illinois Association ; and d. Such policyowner or certificateholder (or contract holder in the case of an unallocated annuity contract) is not eligible for coverage by such other association. Beneficiaries, Assignees and Payees The Association also protects the beneficiaries, assignees and payees of covered policyowners, certificateholders and contract holders specified above regardless of where such beneficiaries, assignees and payees reside, except that nonresident certificateholders under group policies or contracts are not covered. In other words, if a policyowner, certificate holder or contract holder satisfies either the residency or the non-residency test specified above, then the beneficiaries, assignees and payees of such policyowner, certificateholder or contract holder are also covered regardless of where such beneficiaries, assignees or payees reside.   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 ]