South Dakota Life & Health Insurance Guaranty Association 206 W. 14th Street / Sioux Falls, SD 57104 Home About Us FAQs Receiverships Additional Info Links Terms of Use Contact Us Frequently Asked Questions      Are all policies fully protected? Not always. If your insurance company fails, the maximum amount of protection provided by the South Dakota guaranty association for each type of policy issued by the same company, no matter how many of that type of policy you bought from that company, is: Life Insurance Death Benefit: $300,000 per insured life Life Insurance Cash Surrender: $100,000 per insured life Basic Hospital, Medical and Surgical Insurance, or Major Medical Insurance: $500,000 per insured life Disability Insurance: $300,000 per insured life All Other Health Insurance: $100,000 per insured life Annuity Benefits (Present Value): $100,000 per contract owner In no event, however, will the guaranty association be liable for more than $300,000 in the aggregate for any one insured life for all policies issued by an insolvent insurance company on that life.   NOTE: This information is not intended as legal advice, and no liability is assumed in connection with its use. The applicable state guaranty association statute is the controlling authority, regardless of any information presented on this site. Users should seek advice from a qualified attorney and should not rely on this compilation when considering any questions relating to guaranty association coverage.   [ Back to FAQ list ]