Definitions for "GUARANTY FUND"
A fund, derived from assessment against solvent insurance companies, to absorb losses of claimants against insolvent insurers.
A state-required pool of funds covering benefits of insolvent insurers and designed to protect providers and consumers. Return to
State insurance funds that provide protection in case of issuer bankruptcy for some life insurance customers. The funds are supported by insurance companies based on the volume of the particular type of business that they have issued in the state. Coverage varies by state. GICs are typically not covered or covered to a maximum of $5 million per contract holder.  There are no glossary words under this letter.