Washington Life & Disability Insurance Guaranty Association PO Box 2292 / Shelton, WA 98584 Home About Us FAQs Receiverships Additional Info Links Terms of Use Contact Us Frequently Asked Questions      Are all policies fully protected? Not always. If your insurance company fails, the maximum amount of protection provided by the Washington guaranty association for each type of covered policy, no matter how many of that type of policy you bought from your company, is: Life Insurance Death Benefit: $500,000 per insured life Life Insurance Cash Surrender: $500,000 per insured life Health Insurance Claims (including Long Term Care Claims): $500,000 per insured life Annuity Benefits (Present Value): $500,000 per contract owner Allocated Group Annuity Benefits: $500,000 per participant Unallocated Group Annuity Benefits: $5,000,000 per contract owner or plan sponsor Government Retirement Plans established under Internal Revenue Code Sections 401, 403(b), or 457 and covered by an unallocated annuity contract: $100,000 per participant   NOTE: This information is not intended as legal advice, and no liability is assumed in connection with its use. The applicable state guaranty association statute is the controlling authority, regardless of any information presented on this site. Users should seek advice from a qualified attorney and should not rely on this compilation when considering any questions relating to guaranty association coverage.   [ Back to FAQ list ]