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In 1941, New York became the first state in the nation to establish a guaranty fund to protect policyholders of life insurance companies in the event of an insurance company insolvency. In 2023, the New York law was amended to include health insurance companies licensed in New York. (Please see Additional Info tab for details.) The guaranty corporation is a statutory not-for-profit corporation whose members consist of all life and health insurance companies licensed to do business in the state of New York. In the event that a member insurer is found to be insolvent and is ordered to be liquidated by a court, the guaranty corporation provides protection (up to the limits spelled out in the law) to New York residents who are holders of life and health insurance policies, annuity contracts and funding agreements with the insolvent life insurance company. See the Frequently Asked Questions section of the site for an explanation of who is a resident or, if you have questions call us at 212-202-4243 or email us at info@nylifega.org.

Specifically, when a member insurer is found to be insolvent and is ordered liquidated, a receiver takes over the insurer under court supervision. The Life and Health Insurance Company Guaranty Corporation of New York becomes responsible for guaranteeing that coverage continues to be provided to New York resident policyholders. The protection provided by the guaranty corporation is based on and limited by New York law and the terms of the insolvent insurance company's policies at the time of insolvency.

In addition, we try to be of assistance to New York residents in locating lost or old life and annuity policies.

We will make every effort to ensure that the information provided here is accurate. However, if there should be any inconsistency between the law and the information on this Web site, the relevant law will supersede the information here. The guaranty corporation cannot make statements regarding coverage of a specific policy unless it is a policy with a company that has been declared impaired or insolvent. Finally, this Web site is for general information purposes and should not be relied upon as legal advice.

Again, we hope the information provided in this Web site is useful. Be sure to read the Frequently Asked Questions section link of the site for more information: https://www.nylifega.org/FAQ

Please refer to the Contact Us section if you have any questions for the guaranty corporation or call us at 212-202-4243 or email us at info@nylifega.org.