Welcome to the Nebraska Life and
Health Insurance Guaranty Association ("Guaranty
This site has been created to provide information regarding the
history and purpose of the Guaranty
information provided in this website is general in nature and may not
address a specific policy or issue.
The intent of this website is to provide, in non-technical
language, information about the Guaranty Association. The
terms and coverage of insurance products are very diverse and, as a
result, it is difficult to make general statements about Guaranty Association coverage without reviewing a
specific contract. The
generalized information provided by this website should not be relied
upon as legal advice. If
you have specific legal questions regarding these issues, please
consult a qualified legal counselor.
In addition, please refer to the Nebraska Life and Health
Insurance Guaranty Association Act ("Guaranty Association
Act"), Neb. Rev. Stat. §§44-2701 et
seq., for specific information regarding
the coverage of the Guaranty
protection provided by the Guaranty
Association is subject to change in the event that the Nebraska
Legislature amends the Guaranty
Association Act or any other state law.
If there should be any inconsistency between the Guaranty Association Act or any other law or
regulation and this website, the relevant law will control.
The Guaranty Association Act was first
enacted by the Nebraska Legislature in 1975.
The purpose of the Guaranty Association Act is to create the Guaranty Association
to protect Nebraska residents who own life insurance,
health insurance or annuity contracts.
Under the Guaranty Association Act, the Guaranty Association
provides limited protection to Nebraska residents who are holders of
covered life and health insurance policies and individual annuities
issued by Guaranty Association member insurers in the event the member
insurer which issued the insurance policy or individual annuity becomes
insolvent. The Guaranty
Association is a non-profit, unincorporated association of all insurers
licensed to sell life insurance, health insurance and annuities in the
state of Nebraska. Currently,
there are approximately 1,100 member insurers of the Guaranty
Association. The Guaranty
Association is governed by a Board of Directors elected by member
insurers and under the direct supervision of the Director of the
Nebraska Department of Insurance.
Although the Guaranty Association is created by Nebraska state law, it
is not financially supported by the State of Nebraska.
is available pursuant to the terms of the Guaranty Association Act, such
coverage is limited by both the express terms of the covered policy or
contract and the limitations provided by the Guaranty Association Act.
In no event will Guaranty Association liability exceed, with
respect to any one life, $300,000 in life insurance death benefits;
$100,000 in life insurance cash surrender/withdrawal value; $100,000 in
present value annuity benefits; or $500,000 in health insurance
benefits. In addition, the
Guaranty Association’s aggregate liability with respect to any one
life cannot exceed $300,000 in benefits with respect to life and annuity
coverage, or $500,000 with respect to benefits for health insurance and
life or annuity coverage.
the Guaranty Association Act is very specific with regard to the
benefits provided by the Guaranty Association.
For a detailed explanation of these benefits, please review the
complete Nebraska Life and Health Insurance Guaranty Association Act.