Overview
What is New Hampshire Life And Health Insurance Guaranty Association?
New Hampshire Life and Health Insurance Guaranty Association is a nonprofit organization situated in Bedford, New Hampshire. Its primary purpose, as outlined by the State Guaranty Association Act, is to offer protection to policyholders of insolvent insurers. This protection is provided in accordance with the act, ensuring continuity of coverage and benefits for the affected policyholders. The association, with a modest workforce of one individual, operates within the guidelines of its established mission.
Official website here: www.nhlifega.org
Is New Hampshire Life And Health Insurance Guaranty Association legitimate?
New Hampshire Life And Health Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. New Hampshire 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $122,383
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.nhlifega.org
What is the mission statement of New Hampshire Life And Health Insurance Guaranty Association?
The New Hampshire Life and Health Insurance Guaranty Association was established with a mission to provide specific safeguards for policyholders of insolvent insurers, in adherence to the guidelines set by the State Guaranty Association Act. This organization aims to offer protection to policyholders in times of financial instability within the insurance sector. Throughout the year, the New Hampshire Life and Health Insurance Guaranty Association implements these protective measures, ensuring continuity of coverage for policyholders in such scenarios.
Official website here: www.nhlifega.org
What is the revenue of New Hampshire Life And Health Insurance Guaranty Association?
New Hampshire Life And Health Insurance Guaranty Association's revenue in 2024 was $35,242,018.
Official website here: www.nhlifega.org
Who are the executives of New Hampshire Life And Health Insurance Guaranty Association and what are their salaries?
The average compensation at New Hampshire Life And Health Insurance Guaranty Association during 2024 was $122,383. There is 1 employee and 9 volunteers at New Hampshire Life And Health Insurance Guaranty Association.
Here are 10 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: $122,383
- Related: $0
- Other: $4,592
Official website here: www.nhlifega.org
Where can I find the form 990 for New Hampshire Life And Health Insurance Guaranty Association?
New Hampshire Life And Health Insurance Guaranty Association's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.nhlifega.org
Learn more at the official website: www.nhlifega.org
Mission Statement of New Hampshire Life And Health Insurance Guaranty Association
The New Hampshire Life and Health Insurance Guaranty Association was established with a mission to provide essential protections to policyholders of insolvent insurers, in accordance with the State Guaranty Association Act. In simpler terms, this nonprofit organization exists to safeguard policyholders when their insurance companies face financial instability. By doing so, the New Hampshire Life and Health Insurance Guaranty Association ensures that policyholders' coverage and benefits are maintained, providing them with much-needed peace of mind during challenging times.
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 New Hampshire Life and Health Insurance Guaranty Association plays a crucial role in safeguarding policyholders by providing a safety net for individuals who hold policies with insurers that become insolvent. Established under the State Guaranty Association Act, this organization ensures that policyholders are protected from losing their benefits and financial investments in the event their insurance company fails.
By offering these protections, the Guaranty Association enhances consumer confidence in life and health insurance markets, as policyholders know that there is a mechanism in place to support them in times of financial distress related to their insurers. This not only helps to stabilize the insurance industry but also mitigates the potential impact on the broader financial system, ensuring that individuals can maintain access to essential insurance coverage even during turbulent times.
The Guaranty Association's activities contribute to a more resilient insurance environment in New Hampshire, promoting mutual benefit for policyholders and reinforcing the importance of insurance as a fundamental component of personal and financial security. Through its mission, the organization serves as a critical backstop that protects the interests of consumers, ensuring that they can rely on their insurance products without the fear of losing their coverage due to insurer insolvencies.
This information is meant to be a general summary of New Hampshire 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 2024.
- Investment Income: $163,943
- Program Service Revenue: $35,000,139
- Gross Receipts: $35,242,018
Assets and Liabilities:
- Total Assets: $1,234,280
- Total Liabilities: $20,012
- Net Assets: $1,214,268
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.
DUES AND ASSESSMENTS
Revenue
$35,000,139
Organization Details
Founding Year
1971
Principal Officer
Robert O Sheppard
Website
www.nhlifega.orgNTEE Category
Code: Y20 - Mutual benefit
If you are a representative of New Hampshire Life And 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.