Minnesota Life & Health Insurance Guaranty Association

What Minnesota Life & Health Insurance Guaranty Association does

The Minnesota Life & Health Insurance Guaranty Association is a non-profit statutory entity established by the Minnesota legislature in 1977 under Chapter 61B, Minnesota Statutes. It exists to protect Minnesota-resident policyholders, certificate holders, and beneficiaries of life insurance, accident and health insurance, and annuity policies when a member insurer becomes insolvent and is ordered liquidated by a court. The organization's protective function covers death benefits (up to $500,000 per insured life), health claims (up to $500,000), net cash surrender values, fixed annuity values, structured settlement annuities, and other contract benefits up to statutory maximums. All insurance companies licensed to write life, health, or annuity business in Minnesota are required to be members as a condition of operating in the state.

The entity is operated by a small administration team of 1–10 employees headquartered in Minneapolis under Administrator Pamela Epp Olsen. It maintains a public website (www.mnlifega.org) and a Board Portal for member insurers. It does not offer commercial products or services and earns no traditional revenue; funding is provided through assessments levied on member insurers in the same line of insurance when an insolvency occurs. Recent activity includes administering receiverships for Penn Treaty Network America Insurance Company and American Network Insurance Company (2017), and most recently Bankers Life Insurance Company and Colorado Bankers Life Insurance Company (liquidated 11/30/2024).

Governance and operational coordination is maintained through relationships with the National Organization of Life & Health Insurance Guaranty Associations (NOLHGA), the National Conference of Insurance Guaranty Funds, and the Minnesota Department of Commerce. The organization's role is administrative and quasi-regulatory rather than commercial, with the next Annual Meeting of Member Insurers scheduled for March 31, 2026 in St. Paul, MN.

Name

Minnesota Life & Health Insurance Guaranty Association

Legal name

Minnesota Life & Health Insurance Guaranty Association

Website

https://mnlifega.org

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

1–10 employees

Short description

The Minnesota Life & Health Insurance Guaranty Association is a state-mandated, non-profit statutory entity created in 1977 that protects Minnesota resident policyholders, beneficiaries, and certificate holders when member life, health, or annuity insurers are liquidated, funded by assessments on all licensed Minnesota insurers.

Ownership category

akta.pro rank

Headquarters

HQ city

White Bear Lake

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Member Insurer Assessments: The organization is funded through assessments of member insurance companies. When a member insurer becomes insolvent, money to continue coverage and pay claims is obtained through assessments of other member insurance companies writing the same line or lines of insurance as the insolvent company. All insurers licensed to write life and health insurance or annuities in Minnesota are required to be members as a condition of doing business in the state.

Distribution channels2 records

Marketing channels2 records

Core offering

The Minnesota Life & Health Insurance Guaranty Association is a statutory non-profit entity that protects Minnesota residents who hold life, health, or annuity insurance policies when a member insurance company becomes insolvent. It provides continued insurance coverage, facilitates the transfer of policies to solvent insurers, and pays covered claims up to statutory limits. The Association is the safety net of last resort for affected policyholders, stepping in only after the insolvent insurer's assets have been marshaled.

Product overview

The Minnesota Life and Health Insurance Guaranty Association is a statutory governmental entity, not a product company. It operates as a regulatory body established by the Minnesota legislature in 1977 to protect state residents who are policyholders and beneficiaries of policies issued by insolvent insurance companies. The organization does not offer commercial products or services but instead provides a public-facing informational website that includes FAQ resources, receivership information, and contact details for policyholders seeking protection under the Minnesota Life and Health Insurance Guaranty Association Act (Chapter 61B, Minnesota Statutes). The organization's core function is statutory protection administration rather than product provision.

Differentiator

Problem solved

Functional benefit

Products and services

• Life Insurance Policy Protection
• Health Insurance Coverage Protection
• Annuity Contract Protection
• Policy Transfer Facilitation

Quantifiable outcome

• Life Insurance Death Benefit: $500,000 per insured life
• +5 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• National Organization of Life & Health Insurance Guaranty Associations (NOLHGA)coreStrategic or Co-development PartnerNOLHGA is a national organization representing state life and health insurance guaranty associations. The Minnesota association displays the NOLHGA logo on its homepage and links to NOLHGA resources including assessconnect.com for member insurers to update contact information. NOLHGA also hosts information about insolvent insurance companies that may affect multiple state policyholders.
• National Conference of Insurance Guaranty FundsminorStrategic or Co-development PartnerListed under Insurance Organizations on the Links page. National association for insurance guaranty funds.
• Minnesota Commerce DepartmentcoreOthersState regulatory agency that licenses insurance companies in Minnesota and maintains records of all insurers licensed to do business in the state. The guaranty association directs policyholders to contact the department for license verification.

Recent moves4 records

Expansion highlights2 records

Market position

Strengths1 record

Weaknesses5 records

Competitive moat3 records

Customer concentration

• LinkedInlinkedin.com/company/minnesota-life-and-health-insurance-guaranty-association

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Minnesota Life & Health Insurance Guaranty Association