Overview
What is Ohio Life & Health Insurance Guaranty Association?
The Ohio Life & Health Insurance Guaranty Association (OLHIGA) is a non-profit organization in Ohio, comprised of insurance companies selling life, health, and annuity policies. Established by state law, its primary role is to offer some protection to Ohio policyholders when an insolvent insurance company licensed to sell these policies in Ohio goes into liquidation. This protection encompasses limited coverage for life, health, and annuity benefits, ensuring a certain level of financial security for policyholders during challenging times.
Official website here: www.olhiga.org
Is Ohio Life & Health Insurance Guaranty Association legitimate?
Ohio Life & Health Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Ohio 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:
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Other Salaries and Wages: $22,950
For more financial information, click here
Official website here: www.olhiga.org
What is the mission statement of Ohio Life & Health Insurance Guaranty Association?
The Ohio Life & Health Insurance Guaranty Association's mission is to offer a degree of protection to certain Ohio policyholders, specifically those with life, health, and annuity policies, in the event of an insolvency of an insurance company licensed to sell such policies in Ohio. This protection is provided when the company is subjected to liquidation. The association, which is a non-profit entity comprised of insurance companies operating in Ohio, offers limited protection for the policyholders' life, health, and annuity benefits.
Official website here: www.olhiga.org
Who is the CEO of Ohio Life & Health Insurance Guaranty Association?
Sonni Peterson is the Vice Chairman of Ohio Life & Health Insurance Guaranty Association.
Official website here: www.olhiga.org
What is the revenue of Ohio Life & Health Insurance Guaranty Association?
Ohio Life & Health Insurance Guaranty Association's revenue in 2022 was $851,756.
Official website here: www.olhiga.org
Who are the executives of Ohio Life & Health Insurance Guaranty Association and what are their salaries?
Here are 11 key members and their salaries:
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- Related: $233,097
- Other: $24,858
Official website here: www.olhiga.org
Where can I find the form 990 for Ohio Life & Health Insurance Guaranty Association?
Ohio Life & Health Insurance Guaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.olhiga.org
Learn more at the official website: www.olhiga.org
Mission Statement of Ohio Life & Health Insurance Guaranty Association
The Ohio Life & Health Insurance Guaranty Association, a non-profit organization, is established with a mission to offer a degree of protection for specific Ohio policyholders. This protection is crucial when an insurance company licensed to sell life insurance, health insurance, and annuities in Ohio faces insolvency and is subsequently placed into liquidation. The Guaranty Association, in this context, acts as a safeguard, providing limited coverage for policyholders' life, health, and annuity benefits. This assurance offers a certain level of financial stability and peace of mind during challenging times.
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Impact
October, 2024
The Ohio Life & Health Insurance Guaranty Association plays a critical role in safeguarding policyholders in Ohio by providing a safety net in the event of an insurance company's insolvency. When an insurance company licensed in Ohio goes into liquidation, the association steps in to ensure that certain policyholders receive a level of protection for their life, health, and annuity benefits. This helps to maintain financial stability and builds trust in the insurance market by assuring policyholders that they will not lose their essential benefits due to unforeseen company failures. By providing this limited protection, the association supports the overall health of the insurance industry in Ohio and enhances consumer confidence.
This information is meant to be a general summary of Ohio 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: $427,837
- Program Service Revenue: $423,919
- Gross Receipts: $4,851,756
Assets and Liabilities:
- Total Assets: $24,850,040
- Total Liabilities: $34,837
- Net Assets: $24,815,203
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUM INCOME
Revenue
$423,919
Organization Details
Founding Year
1989
Phone
(614) 442-6601Principal Officer
Sonni Peterson
Main Address
485 METRO PLACE SOUTH 270, DUBLIN, OH, 43017
Website
www.olhiga.orgNTEE Category
Code: Y20 - Mutual benefit
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