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 are the Association's obligations in the event that the Association terminates benefits pursuant to Question 14 above? Non-group Policies The Association will make available to each known insured (or owner, if the insured is not also the owner) substitute coverage if such insured had a right under law or the terminated policy to continue such policy in force until a specified age or for a specified time during which the insolvent insurer had no right to change the policy (except changes in premium by class). Group Policies The Association will make available substitute coverage on an individual, non-group basis to any individual formerly insured under a group policy who is not eligible for replacement group coverage if such individual had a right under law or the terminated group policy to convert his or her group coverage to individual coverage. The Association will also make diligent efforts to provide all known insureds of group policies and group policy holder with thirty days prior notice of the termination of benefits by the Association. No Evidence of Insurability Necessary The Association will provide substitute coverage to persons meeting the above specifications without requiring evidence of insurability and without any waiting period or exclusion that could not have applied under the terminated policy.   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 ]