Life Insurance Company Guaranty Corporation of New York Home About Us FAQs Additional Info Links Terms of Use Contact Us Frequently Asked Questions    01.  What happens when my insurance company becomes insolvent? 02.  How is policy coverage determined? 03.  What is the Life Insurance Company Guaranty Corporation of New York? 04.  Who is protected? 05.  Does it matter where I live? 06.  I bought my life insurance policy or annuity contract when I lived in New York, but now I live in another state. Am I protected by the Life Insurance Company Guaranty Corporation of New York? 07.  What contracts are covered? 08.  Are all policies fully protected? 09.  For example, if I own three annuities worth $200,000 each and my insurance company fails, how much is protected? 10.  What will happen to my insurance coverage if the guaranty corporation becomes liable for my policy? 11.  When might the guaranty corporation provide benefits? 12.  What is NOT protected by the guaranty corporation? 13.  I have a variable annuity or variable life insurance contract, in which my funds are invested separately from those of the life insurance company. What kind of protection do I have? 14.  How will I know if my life insurance company has failed or is unable to fulfill its obligations to its policyholders? 15.  How can I find out if my company is licensed in New York? 16.  Why hasn't my agent or company told me more about the Life Insurance Company Guaranty Corporation of New York? 17.  Where can I find more information?