What policies or insurance contracts are not covered?
Those policies or contracts that are not covered include, but are not limited to, policies issued by an insurer not licensed in the state of Nebraska; health maintenance organization contracts not controlled by an insurance company licensed by the state of Nebraska; nonprofit hospital or medical service organization contracts; policy benefits the insurer does not guarantee (such as the non-guaranteed portion of a variable life insurance contract) or for which the policyholder bears the risk; reinsurance contracts; self insured employer plans; unallocated annuity contracts; fraternal benefit society contracts. Certain less commonly known insurance policies and arrangements not listed here are also not protected. A complete listing of what is not covered by the Guaranty Association is provided in the Guaranty Association Act, 44-2703.
