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      Is there any limitation on the amount of interest the Association is obligated to pay with respect to covered policies or contracts that provide for guaranteed minimum interest rates? Yes. With respect to interest accruing prior to the date of the final order of liquidation, the Association is not obligated to pay interest in excess of Moody's Corporate Bond Yield Average, averaged over the prior four years (or such lesser period for which the policy has been issued) minus two percentage points. With respect to interest accruing on and after the date of the liquidation order, the Association is not obligated to pay interest in excess of Moody's most recently available Corporate Bond Yield Average minus three percentage points.   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 ]