FL Life & Health Insurance Guaranty Association

A nonprofit organization (F.S. 631.711) protecting policyowners, insureds, beneficiaries, annuitants, payees, and assignees against an insurer's failure to perform due to financial impairment or insolvency. All insurers transacting life and health business in Florida must be members; the Association is funded by assessments on them. Agents are PROHIBITED from using the Association's existence to sell, solicit, or induce any purchase — and no advertisement may use it. Coverage extends to Florida owners of life insurance, health insurance, annuities, certificate holders, beneficiaries, and assignees (nonresidents only under narrow conditions). NOT covered: any portion of a variable contract not guaranteed by an insurer or where the policyholder bears the risk; fraternal benefit societies; health maintenance insurance; dental, pharmaceutical, optometric, and ambulance service plans; pre-need funeral contracts; prepaid health clinics; annuities not issued to/owned by an individual; amounts above Association limits; Medicare Part C or D; most assumed reinsurance; and federal employee group policies. For an impaired domestic insurer it may guarantee, assume, reissue, or reinsure policies — or loan money to the insurer.

Life-and-health's backstop when a carrier fails — funded by the industry, silent in every sales pitch, and full of carve-outs (variable values, fraternals, HMOs, Medicare C/D).