Maine Life & Health Insurance

The Maine Life & Health Insurance Guaranty Association is a statutory entity created in 1983 when the Maine legislature enacted the Maine Guaranty Association Act.
The guaranty association is composed of all insurers licensed to sell life insurance, accident and health insurance, and individual annuities in the state of Maine.
In the event that a member insurer is found to be insolvent and is ordered to be liquidated by a court, the Guaranty Association Act enables the guaranty association to provide protection (up to the limits spelled out in the Act) to Maine residents who are holders of life and health insurance policies and individual annuities with the insolvent insurer.

In most cases, a guaranty association will continue coverage as long as the policy or contract is a covered policy or contract and premiums are paid or cash value exists.
It may do this directly, or, most often, it may transfer the policy to another insurance company.
In any case, policyholders should continue making premium payments to keep their coverage in force.
Coverage is determined by Maine law and policy language at the time the guaranty association is activated to provide protection (when the member insurer is found to be insolvent and ordered liquidated by a court).

Below is a list of insurance company insolvencies for which the Maine guaranty association has been activated to provide protection to Maine policyholders.
Please be advised: this list may not include every insolvent insurer that has affected this state's policyholders.
You may be able to find additional information at the Maine Bureau of Insurance.