State guaranty coverage

State annuity guaranty coverage, read from each state’s own statute

What each state’s life-and-health guaranty association actually protects for an annuity owner, and where the protection stops — every limit taken from the association’s own documents or the statute, with the access date attached.

If your insurance company fails, a state guaranty association — not the federal government — stands behind your annuity, up to a limit that state sets. Those limits are not uniform, and the summaries that flatten them into one national number are wrong often enough to matter: Pennsylvania is widely listed at $300,000 when its individual annuity limit is $250,000, and North Carolina is widely listed at $250,000 when its statute says $300,000.

Each page below reads that state’s own association documents and statute text, consolidates source details at the end for easier reading, and states plainly where a fact could not be established rather than filling the gap with a guess.

Covering all 51 US jurisdictions.

  • Alabama

    Alabama generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Alaska

    Alaska generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Arizona

    Arizona’s guaranty fund generally provides up to $250,000 in protection for the present value of covered annuity benefits when a member insurer becomes impaired or insolvent, subject to eligibility requirements and statutory exclusions.

  • Arkansas

    Arkansas generally provides up to $300,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • California

    California generally protects 80% of covered annuity obligations, up to $250,000 in present value for one life. Eligibility, exclusions, and the $300,000 combined life-and-annuity aggregate can further limit the result.

  • Colorado

    Colorado generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Connecticut

    Connecticut generally provides up to $500,000 in protection for the present value of covered annuity benefits, subject to eligibility requirements, aggregation, and statutory exclusions.

  • Delaware

    Delaware generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • District of Columbia

    The District of Columbia generally provides up to $300,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Florida

    Florida draws a sharp line between deferred contracts and annuities already paying income: eligible deferred cash value can be protected to $250,000, while qualifying payout benefits can reach $300,000 in present value.

  • Georgia

    Georgia generally provides up to $300,000 in protection for the present value of covered annuity benefits, but eligible net cash surrender and withdrawal values are limited to $250,000.

  • Hawaii

    Hawaii generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Idaho

    Idaho generally provides up to $250,000 in present-value annuity benefits for each qualifying policy or contract, subject to a $300,000 aggregate with respect to one life. Major-medical benefits are subject to a separate $500,000 aggregate exception.

  • Illinois

    Illinois generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, subject to eligibility requirements, statutory exclusions, and a separate $300,000 general aggregate.

  • Indiana

    Indiana generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements, statutory exclusions, and a separate $300,000 aggregate.

  • Iowa

    Iowa generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Kansas

    Kansas generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and net cash withdrawal values, subject to a $300,000 overall aggregate and statutory exclusions.

  • Kentucky

    Kentucky generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and net cash withdrawal values. A separate $300,000 aggregate applies across the health and annuity categories specified in KRS 304.42-030, subject to the $500,000 health-benefit-plan exception.

  • Louisiana

    Louisiana generally protects up to $250,000 in present value with respect to one life for covered annuity benefits, including eligible net cash surrender and withdrawal values, subject to a $500,000 overall individual aggregate and statutory exclusions.

  • Maine

    Maine generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Maryland

    Maryland generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values. The same annuity-specific ceiling applies whether the contract is deferred or already paying income.

  • Massachusetts

    Massachusetts generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to ownership, residency, and other statutory requirements.

  • Michigan

    Michigan generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, subject to eligibility requirements, statutory exclusions, and a separate $300,000 general aggregate.

  • Minnesota

    Minnesota generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values. A $410,000 limit applies to structured-settlement annuities and to qualifying annuities whose required periodic payments began on or before the impairment or insolvency date.

  • Mississippi

    Mississippi generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Missouri

    Under Missouri’s current schedule, qualifying annuity benefits may receive up to $250,000 in present-value protection with respect to one life, including eligible net cash surrender and withdrawal values. A separate $300,000 aggregate and statutory exclusions also apply.

  • Montana

    Montana generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Nebraska

    Nebraska generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to a $300,000 aggregate and statutory eligibility rules.

  • Nevada

    Nevada generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to a $300,000 aggregate and statutory exclusions.

  • New Hampshire

    New Hampshire generally protects up to $250,000 in present-value annuity benefits, including eligible net cash surrender and withdrawal values, with respect to one life at one impaired or insolvent member insurer.

  • New Jersey

    New Jersey generally protects up to $250,000 of eligible net cash surrender or withdrawal value, while total covered present-value annuity benefits may reach $500,000. NJLHIGA explains the higher amount as applying to qualifying annuities in the payout or on-benefit stage.

  • New Mexico

    New Mexico generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one person’s life, including eligible net cash surrender and withdrawal values, subject to statutory eligibility requirements and exclusions.

  • New York

    New York generally provides up to $500,000 in aggregate protection with respect to one life for covered policies from one impaired or insolvent insurer, subject to special rules for group health coverage and certain unallocated group annuities and funding agreements.

  • North Carolina

    North Carolina generally provides up to $300,000 in protection for covered annuity benefits with respect to one life. Separate rules provide up to $1 million per qualifying structured-settlement payee and up to $5 million for certain unallocated-annuity contract holders, while qualifying governmental-plan participant benefits remain subject to the applicable $300,000 per-life aggregate.

  • North Dakota

    North Dakota generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Ohio

    Ohio generally provides up to $250,000 in protection for the present value of covered annuity benefits. OLHIGA may assist an impaired insurer during rehabilitation or conservation, while specified mandatory duties apply once a member insurer is ordered into liquidation with a finding of insolvency.

  • Oklahoma

    Oklahoma generally provides up to $300,000 in protection for the present value of covered annuity benefits, subject to eligibility requirements and statutory exclusions.

  • Oregon

    Oregon generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, subject to eligibility requirements and statutory exclusions.

  • Pennsylvania

    Pennsylvania generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, including eligible net cash surrender and withdrawal values, subject to eligibility requirements and statutory exclusions.

  • Rhode Island

    Rhode Island generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, subject to eligibility requirements and statutory exclusions.

  • South Carolina

    South Carolina generally provides up to $300,000 in protection for the present value of covered annuity benefits with respect to one life. Most covered benefits are subject to a $300,000 aggregate, while qualifying health-benefit-plan benefits may be subject to a $500,000 aggregate.

  • South Dakota

    South Dakota generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life. Unallocated annuity contracts are generally excluded, except to the extent specific annuity benefits are guaranteed to an individual.

  • Tennessee

    Tennessee generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, subject to a $300,000 general aggregate and statutory eligibility requirements.

  • Texas

    Texas generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life, subject to eligibility requirements, statutory exclusions, and a separate $300,000 general aggregate.

  • Utah

    Utah does not use a simple $250,000 annuity cap. For most annuities, it calculates a covered percentage using a numerator capped at $250,000, applies that percentage to each contractual benefit, and then applies a separate $500,000 aggregate with respect to one life.

  • Vermont

    Vermont generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life. Most covered benefits are also subject to a $300,000 aggregate, while qualifying health-benefit-plan benefits may be subject to a $500,000 aggregate.

  • Virginia

    Virginia generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life. Most covered benefit categories are also subject to a $350,000 aggregate, while qualifying health-benefit-plan benefits may be subject to a $500,000 aggregate.

  • Washington

    Washington generally provides up to $500,000 in protection for the present value of covered annuity benefits with respect to one life. Eligible participants in certain governmental retirement plans funded by an unallocated annuity contract are subject to a separate $100,000 limit.

  • West Virginia

    West Virginia generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life. Most covered benefits are also subject to a $300,000 aggregate, while qualifying health-benefit-plan benefits may be subject to a $500,000 aggregate.

  • Wisconsin

    Wisconsin generally provides up to $300,000 in guaranty protection on a single risk, loss, or life. For an annuity, the Fund may satisfy its obligation by paying the current value of the eligible loss claim as of the liquidation date rather than continuing the original contract.

  • Wyoming

    Wyoming generally provides up to $250,000 in protection for the present value of covered annuity benefits with respect to one life. A separate $500,000 aggregate applies across the covered benefit categories listed in the statute.