Protecting South Dakota Policyholders, One Claim at a Time.
Our Mission
The South Dakota Life & Health Insurance Guaranty Association exists to protect South Dakota residents who hold life insurance, health insurance, and annuities from the risk of financial loss in the event their insurance company becomes insolvent.
Who We Are
Established in 1989 by state legislation, the South Dakota Life & Health Insurance Guaranty Association is a statutory entity composed of all insurers licensed to sell life insurance, accident and health insurance, and individual annuities within the state.
What We Do
When an insurance company operating in South Dakota is declared insolvent and placed into liquidation, the Guaranty Association steps in to:
- Assure continuity of coverage for eligible policyholders by either directly providing coverage or transferring the policy to another insurance company.
- Manage the liquidation process of the insolvent insurer, ensuring the fair handling of assets and liabilities.
- Handle claims and inquiries from policyholders impacted by the insolvency.
The Benefits of Coverage
- Financial protection: Policyholders are eligible for coverage up to the limits set by state law.
- Peace of mind: Knowing you have access to the Guaranty Association can provide reassurance in the event of an insurance company failure.
- Expertise and transparency: The association works in collaboration with state regulators and other stakeholders to ensure the smooth and efficient administration of the guaranty process.
Our Commitment
The South Dakota Life & Health Insurance Guaranty Association is dedicated to assisting policyholders during challenging times. We strive to provide clear information, swift assistance, and unwavering support throughout the process.
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