Overview
What is Maine Life And Health Insurance Guaranty Association?
Maine Life and Health Insurance Guaranty Association is a nonprofit organization situated in South China, Maine. Its primary mission, as outlined in the Maine Insurance Code, is to offer protection to policyholders of financially struggling or insolvent insurance companies. This association functions in accordance with Title 24-A Section 4601, ensuring that policyholders receive certain safeguards during challenging times for their insurance providers. The organization's activities are geared towards upholding this mission, offering vital support and security to policyholders in need.
Official website here: www.melifega.org
Is Maine Life And Health Insurance Guaranty Association legitimate?
Maine Life And Health Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Maine Life And 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.
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Official website here: www.melifega.org
What is the mission statement of Maine Life And Health Insurance Guaranty Association?
The Maine Life and Health Insurance Guaranty Association was established with a mission to offer specific safeguards to policyholders whose insurance providers are facing financial instability or insolvency. In line with Title 24-A Section 4601 of the Maine Insurance Code, this organization provides these protective measures to policyholders, ensuring continuity of coverage and financial security during challenging times for the insurance companies.
Official website here: www.melifega.org
Who is the CEO of Maine Life And Health Insurance Guaranty Association?
Donald W Sirois is the Chairman Unum Life of Maine Life And Health Insurance Guaranty Association.
Official website here: www.melifega.org
What is the revenue of Maine Life And Health Insurance Guaranty Association?
Maine Life And Health Insurance Guaranty Association's revenue in 2022 was $6,445.
Official website here: www.melifega.org
Who are the executives of Maine Life And Health Insurance Guaranty Association and what are their salaries?
Here are 11 key members and their salaries:
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Official website here: www.melifega.org
Where can I find the form 990 for Maine Life And Health Insurance Guaranty Association?
Maine Life And Health Insurance Guaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.melifega.org
Learn more at the official website: www.melifega.org
Mission Statement of Maine Life And Health Insurance Guaranty Association
Maine Life and Health Insurance Guaranty Association, established with a specific purpose, aims to provide essential safeguards to policyholders of financially troubled or bankrupt health and life insurance companies. In line with Title 24-A Section 4601 of the Maine Insurance Code, this organization carries out its mission by offering protective measures to policyholders under its jurisdiction. By doing so, Maine Life and Health Insurance Guaranty Association ensures that policyholders' coverage continues, providing them with peace of mind during challenging times.
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Impact
October, 2024
Maine Life and Health Insurance Guaranty Association plays a critical role in safeguarding policyholders from the financial fallout associated with impaired or insolvent insurers. By providing essential protections, the Association ensures that individuals and families can rely on their insurance policies even in challenging circumstances. This protection helps to maintain stability within the insurance market, fostering consumer confidence and promoting a sense of security among policyholders. By fulfilling its mission as outlined in Title 24-A Section 4601 of the Maine Insurance Code, the Association significantly contributes to community improvement, offering peace of mind to residents who might otherwise face uncertainty regarding their health and life insurance coverage.
This information is meant to be a general summary of Maine Life And 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: $989
- Program Service Revenue: $5,052
- Gross Receipts: $6,445
Assets and Liabilities:
- Total Assets: $910,219
- Total Liabilities: $0
- Net Assets: $910,219
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Member Assessments
Revenue
$5,052
Organization Details
Founding Year
1983
Phone
(207) 633-1090Principal Officer
Donald W Sirois
Main Address
P O Box 148, South China, ME, 04358
Website
www.melifega.orgNTEE Category
Code: S40 - Community improvement
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