Members of the Maryland Life and Health Insurance Guaranty Association

Who Is Covered by the Maryland Guaranty Association?

The Maryland Life and Health Insurance Guaranty Association (MD LHI GA) safeguards policyholders when a member insurer fails. It covers most life, annuity, health, and Medicare supplemental plans sold in Maryland, except for certain large policies and specific insurance products that are excluded by state law.

Current Member Insurers

As of the latest update, the following companies are active members of the MD LHI GA:

• American International Group, Inc. (AIG)
• MetLife, Inc.
• Allianz Life Insurance Company
• Northwestern Mutual Life Insurance Company
• Prudential Financial, Inc.
• New York Life Insurance Company
• Guardian Life Insurance Company of America
• John Hancock Life Insurance Company
• Transamerica Life Insurance Company
• Vanguard Life Insurance Company

These insurers submit annual fees to the association, which fund the guarantee fund used to pay claims if an insurer becomes insolvent.

Coverage Limits and Exclusions

The MD LHI GA provides coverage up to a maximum of $350,000 per policyholder, with a $50,000 cap for annuity contracts. Certain high‑value policies, such as those exceeding $10 million, are not covered. Additionally, policies for foreign residents or those purchased outside Maryland may fall outside the association's jurisdiction.

How the Guaranty Process Works

When a member insurer files for bankruptcy or ceases operations, the MD LHI GA steps in. Policyholders receive a notice, and the association pays up to the statutory limits. Payments are typically made within 60 days of the insurer's insolvency filing, though complex cases may take longer.

Finding Your Insurer's Membership Status

To verify if your insurer is a member, consult the MD LHI GA website's member list or contact the association directly at 1‑800‑MD‑GA‑1 (1‑800‑646‑2421). The website also offers a search tool where you can enter your policy number to confirm coverage eligibility.

Why Membership Matters for Policyholders

Membership in the MD LHI GA does not replace the need for financial stability or good underwriting practices. Instead, it serves as a safety net, ensuring that even if an insurer fails, policyholders receive prompt payment for covered benefits. This assurance is particularly valuable for retirees and individuals relying on life insurance for estate planning.