Maine Life & Health Insurance

At the Maine Life & Health Insurance Guaranty Association, our primary goal is to provide protection to Maine residents who are policyholders of life and health insurance policies and individual annuities with insurance companies that have become insolvent. We are a statutory entity created in 1983 by the Maine legislature to ensure that policyholders receive the coverage they need, even in the event of an insurance company's insolvency.

Our Role in Protecting Policyholders

In the event of an insurance company's insolvency, we step in to provide protection to Maine residents who hold policies with the insolvent insurer. Our role is to ensure that policyholders continue to receive the coverage they need, up to the limits spelled out in the Maine Guaranty Association Act. We work closely with the special deputy receiver to process the assets and liabilities of the insolvent insurer and provide coverage to policyholders.

How We Provide Protection

We provide protection to policyholders in a few ways. In some cases, we may continue coverage directly, while in other cases, we may transfer the policy to another insurance company. In any case, it is essential for policyholders to continue making premium payments to keep their coverage in force. We also provide information and resources to policyholders to help them understand their coverage options and rights.

Our Commitment to Policyholders

At the Maine Life & Health Insurance Guaranty Association, we are committed to providing the highest level of service and support to policyholders. We understand the importance of having access to life and health insurance coverage, and we are dedicated to ensuring that policyholders receive the protection they need, even in the event of an insurance company's insolvency.

Frequently Asked Questions

If you have questions about our role in protecting policyholders or the services we provide, we encourage you to visit our Frequently Asked Questions section. This section provides answers to common questions about what happens when an insurance company goes out of business, how policy coverage is determined, and more.