What protections are provided by the Fund?
What protections are provided by the Fund?
The basic protections provided by the Arizona GF for any one (1) life are lesser of the policy limit or value of the annuity, or:
- Life Insurance
- $300,000 in death benefits
- $100,000 in cash surrender or withdrawal values
- Disability Insurance
- $500,000 in health benefit plan benefits*
- $300,000 in disability insurance benefits
- $300,000 in long-term care insurance benefits
- $100,000 in other types of disability insurance benefits
- Annuities
- $250,000 in the present value of annuity benefits, including net cash withdrawal and net cash surrender values.
*The maximum amount of protection for each individual, regardless of the number of policies or contracts, is $300,000, but special rules apply with regard to certain health benefit plan benefits for which the maximum amount of protection is $500,000.