What is NOT protected by the guaranty association?
Policies with insurers not licensed to do business in Virginia; Health Maintenance Organization (HMO) contracts; policy benefits the insurer does not guarantee or for which the policyholder bears the risk (such as the non-guaranteed portion of a variable life insurance or variable annuity contract); self-insured employer plans; and fraternal benefit society insurance certificates. Certain, less commonly known insurance policies and arrangements not listed here are also not protected (guaranteed investment contracts, deposit administration contracts). If you are unsure about whether your policy is excluded from guaranty association protection, you should review the current Guaranty Association Act (see the Additional Info section).
Policies with insurers not licensed to do business in Rhode Island; Health Maintenance Organization (HMO) contracts; policy benefits the insurer does not guarantee or for which the policyholder bears the risk (such as the non-guaranteed portion of a variable life insurance or annuity contract); self-insured employer plans; interest rate yields that exceed an average rate; [“(i) Averaged over the period of four (4) years prior to the date on which the Association becomes obligated with respect to the policy or contact, exceeds a rate of interest determined by subtracting two (2) percentage points from Moody’s Corporate Bond Yield Average averaged for that same four-year (4) period or for such lesser period if the policy or contract was issued less than four (4) years before the Association became obligated; and ii) On and after the date on which the Association becomes obligated with respect to the policy or contract, exceeds the rate of interest determined by subtracting three (3) perc
