Overview
What is North Dakota Life And Health Insurance Guaranty As?
North Dakota Life and Health Insurance Guaranty Association is a mandated organization, as per the state's laws. Its primary function, as per the North Dakota Century Code, is to collect funds from life and health insurance companies operating in the state. In case of insolvency of these companies, the association provides financial assistance for claims submitted by North Dakota residents who are policyholders or beneficiaries. The coverage includes contracts issued under life, accident, health, disability, long-term care, and annuity policies. This nonprofit serves as a safety net, ensuring the financial well-being of North Dakota residents in such challenging situations.
Official website here: www.ndlifega.org
Is North Dakota Life And Health Insurance Guaranty As legitimate?
North Dakota Life And Health Insurance Guaranty As is a legitimate nonprofit organization registered as a 501(c)(6) entity. North Dakota Life And Health Insurance Guaranty As 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: $30,024
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ndlifega.org
What is the mission statement of North Dakota Life And Health Insurance Guaranty As?
The North Dakota Life and Health Insurance Guaranty Association, as per its mission, is designed to provide financial assistance for claims submitted by North Dakota residents who are policyholders or beneficiaries of contracts issued by insolvent insurance companies operating within the state under life, accident, health, disability, long-term care, and annuity coverage. The association achieves this by assessing funds from life and health insurance companies licensed to operate in North Dakota, as mandated by the North Dakota Century Code. This mechanism serves to ensure that claimants affected by insolvent insurers receive the financial benefits they are entitled to.
Official website here: www.ndlifega.org
Who is the CEO of North Dakota Life And Health Insurance Guaranty As?
David Breuer is the Executive Director of North Dakota Life And Health Insurance Guaranty As.
Official website here: www.ndlifega.org
What is the revenue of North Dakota Life And Health Insurance Guaranty As?
North Dakota Life And Health Insurance Guaranty As's revenue in 2023 was $304,795.
Official website here: www.ndlifega.org
Who are the executives of North Dakota Life And Health Insurance Guaranty As and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.ndlifega.org
Where can I find the form 990 for North Dakota Life And Health Insurance Guaranty As?
North Dakota Life And Health Insurance Guaranty As's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ndlifega.org
Learn more at the official website: www.ndlifega.org
Mission Statement of North Dakota Life And Health Insurance Guaranty As
North Dakota Life and Health Insurance Guaranty Association, as per its mission, is committed to providing financial aid for claims submitted by North Dakota residents who are policyholders or beneficiaries of contracts issued by insolvent insurance companies licensed to operate in the state under life, accident, health, disability, long-term care, and annuity policies. This organization serves as a safeguard for policyholders and their beneficiaries, ensuring they receive the financial benefits they are entitled to, even if the issuing insurance company experiences financial instability. The Association accomplishes this by collecting funds from life and health insurance companies licensed to do business in North Dakota, which it then uses to pay out claims of insolvent life and health insurers, as mandated by the North Dakota Century Code.
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Impact
October, 2024
The North Dakota Life And Health Insurance Guaranty Association plays a crucial role in protecting policyholders and beneficiaries in the state. It provides financial benefits for claims submitted by North Dakota residents who hold contracts with insurance companies that become insolvent. This ensures that individuals who have invested in life, accident, health, disability, long-term care, and annuity policies are not left vulnerable when their insurance providers fail.
Through assessments of licensed life and health insurance companies operating within North Dakota, the Association gathers necessary funds to fulfill its obligations. This funding mechanism not only supports those who are directly affected by the insolvency of insurers but also contributes to the stability and confidence in the insurance market. By safeguarding consumers’ interests, the Association reinforces trust in the insurance system, allowing residents to purchase policies without the fear of losing their coverage due to insurer failures. Ultimately, the North Dakota Life And Health Insurance Guaranty Association serves as a vital safety net, promoting mutual benefit for individuals relying on insurance for their health and financial security.
This information is meant to be a general summary of North Dakota Life And Health Insurance Guaranty As. 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 2023.
- Investment Income: $108,355
- Program Service Revenue: $196,440
- Gross Receipts: $304,795
Assets and Liabilities:
- Total Assets: $3,939,464
- Total Liabilities: $0
- Net Assets: $3,939,464
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DistributionsOther
Revenue
$196,440
Organization Details
Founding Year
1983
Principal Officer
David Breuer
Main Address
PO Box 2422, Fargo, ND, 58108
Website
www.ndlifega.orgNTEE Category
Code: Y20 - Mutual benefit
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