Overview
What is Delaware Life & Health Insurance Guaranty Association?
The Delaware Life & Health Insurance Guaranty Association is a nonprofit organization based in Newark, Delaware. Its primary mission is to safeguard individuals, such as policyholders, insureds, beneficiaries, annuitants, payees, and assignees, from the failure to meet contractual obligations under certain life and health insurance policies and annuity contracts, due to the insurer's impairment or insolvency. This is as per the regulations outlined in Chapter 44 of the Delaware Insurance Code. The association acts as a financial safety net, ensuring that policyholders' investments and benefits are protected within certain limitations.
Official website here: www.delifega.org
Is Delaware Life & Health Insurance Guaranty Association legitimate?
Delaware Life & Health Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Delaware Life & Health Insurance Guaranty Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.delifega.org
What is the mission statement of Delaware Life & Health Insurance Guaranty Association?
The Delaware Life & Health Insurance Guaranty Association's mission is to safeguard individuals against the failure to fulfill contractual obligations under certain insurance policies and annuity contracts, due to the impairment or insolvency of an insurance company. The purpose of this association is to protect policyowners, insureds, beneficiaries, annuitants, payees, and assignes of life insurance policies, health insurance policies, and annuity contracts, as outlined in certain sections of the Delaware Insurance Code, under specific limitations. The primary function of the Delaware Life and Health Insurance Guaranty Association's largest program is to shield, within these limitations, the individuals specified in Chapter 44 of the Delaware Insurance Code from the failure to meet contractual obligations under life and health insurance policies and annuity contracts, issued by member insurers, due to impairment or insolvency.
Official website here: www.delifega.org
Who is the CEO of Delaware Life & Health Insurance Guaranty Association?
Barry Miller is the Executive Di of Delaware Life & Health Insurance Guaranty Association.
Official website here: www.delifega.org
What is the revenue of Delaware Life & Health Insurance Guaranty Association?
Delaware Life & Health Insurance Guaranty Association's revenue in 2022 was $128,985.
Official website here: www.delifega.org
Who are the executives of Delaware Life & Health Insurance Guaranty Association and what are their salaries?
Here are 13 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.delifega.org
Where can I find the form 990 for Delaware Life & Health Insurance Guaranty Association?
Delaware Life & Health Insurance Guaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.delifega.org
Learn more at the official website: www.delifega.org
Mission Statement of Delaware Life & Health Insurance Guaranty Association
The Delaware Life & Health Insurance Guaranty Association is committed to safeguarding individuals who fall under the Delaware Insurance Code from the consequences of an insurance company's inability to fulfill its contractual obligations, specifically in relation to certain life insurance policies, health insurance policies, and annuity contracts. The association's primary objective is to shield policyholders, insured individuals, beneficiaries, annuitants, payees, and assignees from the repercussions of impairment or insolvency of the insurance company that issued these policies or contracts, subject to certain limitations. By doing so, the Delaware Life & Health Insurance Guaranty Association plays a crucial role in upholding financial security and peace of mind for policyholders, ensuring that they are not left in a precarious situation due to the failure of their insurance provider.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Delaware Life & Health Insurance Guaranty Association plays a crucial role in safeguarding the interests of policy owners, insured individuals, beneficiaries, annuitants, payees, and assignees in the event of an insurer's impairment or insolvency. By providing protection against failures in the performance of contractual obligations, the Association ensures that individuals covered by life and health insurance policies and annuity contracts receive the benefits they are entitled to, even if the issuing insurer faces financial difficulties.
Operating under the Delaware Insurance Code, the Association serves as a safety net for those who might otherwise suffer significant financial loss. Its mission mitigates the risks associated with the life and health insurance industry, fostering public confidence in insurance products. The limitations and specific rules outlined in Chapter 44 of the Delaware Insurance Code help define the scope of this protection, targeting the most vulnerable parties in the insurance ecosystem.
In essence, the Delaware Life & Health Insurance Guaranty Association functions to maintain stability and trust in the insurance industry, contributing to the overall financial security of individuals and families in Delaware. By protecting against the uncertainties of insurer insolvency, it helps ensure that the commitments made through insurance and annuity contracts are honored.
This information is meant to be a general summary of Delaware Life & Health Insurance Guaranty Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $22,755
- Program Service Revenue: $106,230
- Gross Receipts: $128,985
Assets and Liabilities:
- Total Assets: $3,130,794
- Total Liabilities: $0
- Net Assets: $3,130,794
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RECOUPMENTS
Revenue
$78,306
MEMBER PROGRAM ASSESSMENTS
Revenue
$21,624
ADMINISTRATIVE ASSESSMENTS
Revenue
$6,300
Organization Details
Founding Year
1983
Phone
(302) 456-3656Principal Officer
Barry Miller
Main Address
220 CONTINENTAL DRIVE SUITE 212, NEWARK, DE, 19713
Website
www.delifega.orgNTEE Category
Code: Y20 - Mutual benefit
If you are a representative of Delaware Life & Health Insurance Guaranty Association and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.