National Organization Of Life And Health Insurance Guaranty Associations - NOLHGA

AAA

DEFINITION of 'National Organization Of Life And Health Insurance Guaranty Associations - NOLHGA'

NOLHGA is a voluntary organization of U.S. life- and health-insurance guaranty associations. Founded in 1983, it covers policyholders when a multistate life- or health-insurance company fails.

INVESTOPEDIA EXPLAINS 'National Organization Of Life And Health Insurance Guaranty Associations - NOLHGA'

NOLHGA pays policyholders' claims when an insolvent insurance company is unable to. It raises the needed funds from other insurance companies doing business in the states where the failed insurer was doing business. Each insurance company pays a special assessment in proportion to the amount of premiums it collects in that state.

RELATED TERMS
  1. Life Insurance

    A protection against the loss of income that would result if ...
  2. Insurance

    A contract (policy) in which an individual or entity receives ...
  3. Premium

    1. The total cost of an option. 2. The difference between the ...
  4. State Guaranty Fund

    A fund administered by a U.S. state to protect policy holders ...
  5. Health Insurance

    A type of insurance coverage that pays for medical and surgical ...
  6. Borderline Risk (Insurance)

    An insurance policy applicant that an insurance company has not ...
Related Articles
  1. Home & Auto

    A Look At Single-Premium Life Insurance

    Want to provide for your dependents and finance your own long-term care? Learn more here.
  2. Insurance

    Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.
  3. Home & Auto

    The History Of Insurance

    The first written policy appeared in Hammurabi's Code. Find out how it evolved from there.
  4. Home & Auto

    How An Insurance Company Determines Your Premiums

    Find out how insurers use credit history to build an insurance score and how it could affect your bottom line.
  5. Insurance

    Life Insurance: Putting A Price On Peace Of Mind

    Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected.
  6. Insurance

    Avoid The No-Health-Insurance Penalty By Feb 15

    If you don't have health insurance, act NOW or you could owe penalties on your 2015 taxes, in addition to this year's.
  7. Insurance

    Rating Assurant Prepaid Vs. Delta PPO dental plans

    As more consumers – and dentists – join insurance plans, here’s help in choosing benefits that are right for you.
  8. Professionals

    What are some examples of common fringe benefits?

    Learn how offering fringe benefits can be a strategic recruitment and retention tool for employers and drastically increase total compensation for employees.
  9. Professionals

    What's the average salary of an actuary?

    Get insight into the intriguing career of risk analysis and forecasting. How much do actuaries make, and how is this field expected to fare in the coming years?
  10. Insurance

    Who (Besides Retirees) Can Get Medicare?

    People think you need to be 65 before you're eligible for Medicare. But you might be eligible before then. Here's who can be covered – and when.

You May Also Like

Hot Definitions
  1. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  2. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
  3. Break-Even Analysis

    An analysis to determine the point at which revenue received equals the costs associated with receiving the revenue. Break-even ...
  4. Key Performance Indicators - KPI

    A set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their ...
  5. Bank Guarantee

    A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor ...
  6. Dividend Discount Model - DDM

    A procedure for valuing the price of a stock by using predicted dividends and discounting them back to present value. The ...
Trading Center