Minnesota Life & Health Insurance Guaranty Association 4760 White Bear Parkway / Suite 101 / White Bear Lake, MN 55110 Home About Us FAQs Receiverships Additional Info Links Terms of Use Contact Us Frequently Asked Questions    01.  What happens when my insurance company goes out of business? 02.  How is policy coverage determined? 03.  What is the Minnesota Life & Health Insurance Guaranty Association? 04.  Who is protected? 05.  Does it matter where I live? 06.  How can I find out if my company is licensed in Minnesota? 07.  What contracts are covered? 08.  Coverage limits, and are all covered policies fully protected? 09.  What is NOT protected by the guaranty association? 10.  For example, if I own three fixed annuities worth $100,000 each and my insurance company fails, how much is protected? 11.  My spouse and I are joint owners of a fixed annuity contract with a cash surrender value of $300,000 (for example)--how does the $250,000 limit apply to us? 12.  Does the guaranty association provide coverage for long-term care insurance? 13.  What does it mean in the Notice to Policyholders when it states that the association shall not be responsible for more than $10,000,000 in claims? 14.  What will happen to my insurance coverage if the guaranty association becomes liable for my policy? 15.  When might the guaranty association provide benefits? 16.  How will I know if my life or health insurance company has failed or is unable to fulfill its obligations to its policyholders? 17.  Why hasn't my agent or company told me more about the Minnesota Life & Health Insurance Guaranty Association?