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 25 of 51 US jurisdictions so far. The remaining states are not yet published, and none of the pages below speaks for them.

  • Alabama

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

  • Alaska

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

  • Arizona

    Arizona generally provides up to $250,000 in protection for the present value of annuity benefits if a member insurer becomes insolvent, subject to eligibility requirements and statutory exclusions.

  • Arkansas

    Arkansas generally provides up to $300,000 for the present value of covered annuity benefits, subject to eligibility rules and statutory exclusions.

  • California

    California applies an 80% formula before its $250,000 annuity ceiling, so a contract can sit below the headline limit and still be only partly protected.

  • Colorado

    Colorado generally provides protection of up to $250,000 for the present value of covered annuity benefits, 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—one of the higher state guaranty limits.

  • Delaware

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

  • Florida

    Florida separates deferred-annuity cash value, capped at $250,000, from qualifying benefits already in payout status, which can reach $300,000 in present value.

  • Georgia

    Georgia allows up to $300,000 of present-value annuity benefits, but no more than $250,000 may be attributable to deferred cash-surrender and withdrawal value.

  • Hawaii

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

  • Idaho

    Idaho provides up to $250,000 per qualifying annuity contract, while all covered benefits with respect to one life remain subject to a $300,000 aggregate.

  • Illinois

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

  • Indiana

    Indiana generally provides up to $250,000 in protection for the present value of covered annuity benefits, subject to eligibility requirements, statutory exclusions, and a $300,000 overall aggregate.

  • Iowa

    Iowa generally provides up to $250,000 in protection for the present value of covered annuity benefits, 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, subject to a $300,000 overall aggregate and statutory exclusions.

  • Maryland

    Maryland uses one $250,000 present-value ceiling whether an annuity is still accumulating or has begun paying income.

  • Michigan

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

  • New Jersey

    New Jersey generally protects deferred-annuity cash surrender value up to $250,000, while qualifying annuity benefits in the payout or on-benefit stage may receive up to $500,000 in present-value protection.

  • New York

    New York uses a statutory guaranty corporation and a $500,000 per-life aggregate across covered policies from one failed insurer.

  • North Carolina

    North Carolina’s ordinary $300,000 figure is both the annuity maximum and the shared ceiling for most benefits on one life, with separate $1 million and $5 million special categories.

  • Ohio

    Ohio generally protects up to $250,000 in the present value of covered annuity benefits. The association may assist during rehabilitation, but its mandatory guaranty duties begin after a court liquidates an insolvent member insurer.

  • Pennsylvania

    Pennsylvania generally protects up to $250,000 in the present value of covered annuity benefits, subject to eligibility requirements and statutory exclusions.

  • 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, a $300,000 overall aggregate, and statutory exclusions.