Co-Founder, Coastal Financial Partners Group, California
Life insurance policies are not FDIC insured. However, life insurance companies are highly regulated at the state level.
Life and health insurance guarantee associations were created to protect policyholders and beneficiaries in the event the issuing company goes out of business.All 50 states, DC and Puerto Rico have life and health guarantee associations. For more information go to www.nolhga.com for more information on how it works.
Life insurance is not FDIC insured. And although each state supports a guaranteed fund, licensed agents are prohibited from alluding to it in any way as a sales inducement and/or comparing the guaranteed fund to the FDIC.
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Life and health insurance guarantee associations were created to protect policyholders and beneficiaries in the event the issuing company goes out of business.All 50 states, DC and Puerto Rico have life and health guarantee associations. For more information go to www.nolhga.com for more information on how it works.