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Illinois Life & Health Insurance Guaranty Association
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8420 W. Bryn Mawr Avenue, Suite 550 / Chicago, IL 60631-3404 |
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Frequently Asked Questions  |
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May the Association terminate benefits under a policy or contract?
Yes, the Association may terminate benefits as of the following dates:
Non-group Life and Health Policies
On or after the earlier to occur of: (a) the next renewal date of such policy or contract, or (b) one year after the date of the final order of liquidation (but not less than thirty days after such order).
Group Life and Health Policies
On or after the earlier to occur of: (a) the next renewal date of the policy or contract or (b) sixty days after the date of the final order of liquidation (but not less than thirty days after such order).
Annuities
On the first date on which the annuity may be canceled pursuant to the terms of the annuity contract. |
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| 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. |
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