Indiana Life and Health Insurance Guaranty Association

What Indiana Life and Health Insurance Guaranty Association does

The Indiana Life and Health Insurance Guaranty Association is a non-profit statutory entity created by the Indiana legislature in 1978 under the Indiana Life and Health Insurance Guaranty Association Act. Its core function is to protect Indiana resident policyholders when member insurance companies become insolvent and are ordered liquidated by a court. Coverage extends to life insurance, health insurance (including basic hospital/medical/surgical, major medical, Medicare supplement, long-term care, and disability policies), and annuity contracts, subject to statutory limits (e.g., $300,000 death benefit, $250,000 annuity present value, $500,000 health insurance, and $300,000 long-term care/disability per insured for liquidations on or after January 1, 2013). The Association is composed of most insurance companies licensed to sell life insurance, health insurance, and annuities in Indiana, and protection is activated automatically by law when a court-ordered liquidation occurs, either through direct assumption of policies or transfer to a solvent insurer.

The organization generates revenue through assessments levied on member insurance companies and may also receive distributions from the estates of failed member insurers to the extent funds are available and legally permissible. It does not sell products or services in a commercial sense, charge fees for website access, or engage in traditional marketing. Its primary operating expenditures relate to administering coverage obligations during insurer insolvencies. The Association operates under court supervision when activated and coordinates closely with the Indiana Department of Insurance and the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA), maintaining ties to a national network of state guaranty associations.

The entity has been activated multiple times across its history, with documented insolvencies dating back to 1986 and recent cases including Bankers Life Insurance Company (NC) and Colorado Bankers Life Insurance Company (NC), both liquidated on 11/30/2024. The Act was last amended in 2013, with revised coverage limits applicable to liquidations on or after January 1, 2013. The Association maintains a small Indianapolis office (3502 Woodview Trace, Suite 100) and disseminates information primarily through its public website and referrals to regulatory partners. There is no parent company, subsidiary structure, headcount disclosure, or external ownership interest.

Name

Indiana Life and Health Insurance Guaranty Association

Legal name

Indiana Life and Health Insurance Guaranty Association

Website

https://inlifega.org

Company type

Private

Founded year

1978

Operating status

Operating

Short description

The Indiana Life and Health Insurance Guaranty Association is a non-profit statutory entity, created by Indiana law in 1978, that protects Indiana resident policyholders of life insurance, health insurance, and annuity contracts when member insurers are liquidated, funded through assessments on member companies.

Ownership category

akta.pro rank

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Others

Revenue model

1. Assessments from member insurers: The Indiana Association collects money through assessments from each of its member insurance companies. The Indiana Association may also receive distributions from the estates of failed member insurance companies, to the extent funds are available and such distributions comply with all applicable laws.

Distribution channels1 record

Marketing channels3 records

Core offering

The Indiana Life and Health Insurance Guaranty Association is a non-profit statutory entity that protects Indiana resident policyholders when a member life insurance, health insurance, or annuity company becomes insolvent and is ordered liquidated by a court. It continues coverage (subject to statutory limits) or transfers policies to a solvent insurer, and is funded by assessments on its member insurance companies.

Product overview

Indiana Life and Health Insurance Guaranty Association is a non-profit statutory entity that provides policyholder protection services rather than commercial products. The organization is composed of insurance companies licensed to sell life insurance, health insurance, and annuities in Indiana. When a member insurer becomes insolvent and is ordered liquidated, the Association provides protection to Indiana resident policyholders under statutory coverage limits. The Association does not offer traditional commercial products or software offerings—it operates as a statutory guaranty mechanism created to protect consumers.

Differentiator

Problem solved

Functional benefit

Products and services

• Life Insurance Death Benefit Coverage
• Health Insurance Coverage Protection
• Annuity Present Value of Benefits Coverage
• Long-Term Care and Disability Insurance Coverage
• Policy Transfer to Solvent Insurer

Quantifiable outcome

• Life Insurance Death Benefit coverage up to $300,000 per insured (post-2013 insolvencies)
• +3 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.

• National Organization of Life and Health Insurance Guaranty Associations (NOLHGA)coreStrategic or Co-development PartnerNOLHGA is a national organization representing state life and health insurance guaranty associations. The Indiana Association links to NOLHGA for policyholder information, receivership details, and additional resources about guaranty association coverage. The Indiana Association logo appears alongside NOLHGA branding, indicating close operational coordination.
• Indiana Department of InsurancecoreStrategic or Co-development PartnerThe Indiana Department of Insurance (311 West Washington Street, Indianapolis, IN 46204; 317-232-2385) regulates insurance companies in Indiana and coordinates with the association when member insurers become insolvent. Policyholders are directed to contact the department to verify insurance company authorization and licensing.
• State Guaranty Associations (all 50 states)coreStrategic or Co-development PartnerThe Indiana Association is part of a national network of state guaranty associations. The Links page provides connections to all state guaranty associations, enabling policyholders who move between states to access coverage information from the appropriate state association.

Scale indicators1 record

Recent moves5 records

Expansion highlights1 record

Others

• National Organization of Life and Health Insurance Guaranty Associations (NOLHGA): National umbrella coordinating state guaranty associations; the Indiana Association is an explicit member and coordination partner. Not a direct competitor but a system-level enabler and strategic counterpart that provides multi-state case management and shared infrastructure.
• Indiana Department of Insurance: Indiana's primary insurance regulator that licenses insurers, oversees liquidations, and coordinates with the Association when member insurers fail. Adjacent ecosystem participant — regulates the upstream activity (insurer solvency supervision) that triggers the Association's downstream protection role.

Direct peers

• California Life and Health Insurance Guarantee Association: Direct peer providing the same statutory guaranty function to California policyholders, with coverage limits and assessment mechanics parallel to Indiana's; among the largest state associations by member insurer count.
• Illinois Life and Health Insurance Guaranty Association: Direct peer association operating under the same NOLHGA-affiliated state guaranty model, providing statutory coverage to Illinois policyholders facing insurer insolvency; offers near-identical functional scope as the Indiana entity.
• Florida Life and Health Insurance Guaranty Association: Direct peer entity performing the same statutory guaranty role for Florida residents; comparable activation triggers, member assessment model, and multi-line coverage scope (life, health, annuity).
• New York Life and Health Insurance Guaranty Association: Direct peer offering analogous life and health guaranty protection in New York; structurally identical mission and funding model, with potential differences in statutory coverage caps reflecting New York's market dynamics.
• Pennsylvania Life and Health Insurance Guaranty Association: Direct peer providing Pennsylvania-resident policyholder protection with the same statutory design, assessment funding, and NOLHGA coordination as the Indiana Association.
• Texas Life and Health Insurance Guaranty Association: Direct state-level peer administering life, health, and annuity protection under Texas statute; comparable assessment-based funding and insolvency response framework with potentially larger member base given Texas's market size.
• Ohio Life and Health Insurance Guaranty Association: Direct state-level peer providing identical life, health, and annuity guaranty protection to Ohio resident policyholders under the same statutory framework; mirrors Indiana's structure, coverage caps, and assessment-based funding model.

Broad incumbents

• Property and Casualty Insurance Guaranty Association (state analogs): Parallel state-level P&C guaranty funds (e.g., NCIGF) operating the same statutory mechanism for property/casualty lines; not a direct competitor since Indiana's entity focuses on life and health, but a functionally analogous model useful for benchmarking structure and response.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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

Frequently asked questions about Indiana Life and Health Insurance Guaranty Association