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Definition of 'State Guaranty Fund'
A fund administered by a U.S. state to protect policy holders in the event that an insurance company defaults on benefit payments or becomes insolvent. The fund only protects beneficiaries of insurance companies that are licensed to sell insurance products in that state.
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Investopedia explains 'State Guaranty Fund'
These state funds act as a form of insurance for insurance, and are funded by insurance companies that sell insurance in a given state.
The amount of funding an insurance company is required to pay is a percentage, ranging from 1- 2% of the net amount of insurance it sells within any particular state.
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Search results for 'State Guaranty Fund'
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http://www.investopedia.com/ask/answers/09/annuity-insurance-company-financial-problems.asp
... However, if your annuity is not a variable annuity held in a segregated account,
your annuity would likely be covered by a state guaranty fund. ...
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http://www.investopedia.com/articles/taxes/08/tax-credits.asp
... employer plans in The Pension Benefit Guaranty Corporation Rescues ... There are a number
of state and local ... Tax Credit for Undistributed Mutual Fund Capital Gains ...
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