Overview
What is Life & Health Insurance Protection Association?
The Life & Health Insurance Protection Association is a nonprofit organization headquartered in Oklahoma City, Oklahoma. Their primary focus is to fulfill claims and address contractual obligations related to existing life and health insurance policies from insolvent insurers, as outlined in Colorado statutes and the organization's operational plan. By doing so, they provide assistance to policyholders in need.
Official website here: www.colifega.org
Is Life & Health Insurance Protection Association legitimate?
Life & Health Insurance Protection Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Life & Health Insurance Protection 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 not tax deductible.
Here 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.colifega.org
What is the mission statement of Life & Health Insurance Protection Association?
The Life & Health Insurance Protection Association is committed to fulfilling the obligations of insolvent life and health insurers. In accordance with Colorado laws and the Association's operational plan, they work towards settling insurance claims and addressing other contractual responsibilities for existing policies. Their primary focus is on paying out life, health, and annuity claims for insolvent insurers, ensuring policyholders receive the benefits they are entitled to.
Official website here: www.colifega.org
Who is the CEO of Life & Health Insurance Protection Association?
Lori Geadelmann is the Chair of Life & Health Insurance Protection Association.
Official website here: www.colifega.org
What is the revenue of Life & Health Insurance Protection Association?
Life & Health Insurance Protection Association's revenue in 2022 was $20,128,052.
Official website here: www.colifega.org
Who are the executives of Life & Health Insurance Protection Association and what are their salaries?
- Farm Bureau Life Insurance Company (Chair)
- Great West Life & Annuity Insurance (Director)
- Principal Financial Group (Secretary/Treasurer)
- State Farm Insurance Company (Director)
- Rocky Mtn Hospital & Medical Service (Vice-Chair)
- Everlake Life Insurance Company (Director)
- Aetna (Director)
- Metlife (Director)
- United Healthcare Group (Director)
Official website here: www.colifega.org
Where can I find the form 990 for Life & Health Insurance Protection Association?
The Life & Health Insurance Protection Association’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.colifega.org
Learn more at the official website: www.colifega.org
Mission Statement of Life & Health Insurance Protection Association
The Life & Health Insurance Protection Association, a nonprofit organization, is dedicated to fulfilling the contractual obligations of insolvent life and health insurers. In accordance with Colorado statutes and the Association's operational plan, this organization assumes the responsibility of paying claims and addressing other contractual obligations for existing policies of bankrupt insurers. By doing so, the Life & Health Insurance Protection Association provides much-needed financial security to policyholders during difficult times.
This crucial role played by the Life & Health Insurance Protection Association ensures that individuals continue to receive the benefits they are entitled to under their insurance policies. By assuming the financial burden of insolvent insurers, the organization alleviates the stress and uncertainty faced by policyholders. In essence, the Life & Health Insurance Protection Association acts as a safety net, safeguarding the financial future of those who rely on their insurance coverage.
Moreover, the Association's mission extends beyond just payment of claims. It addresses the contractual obligations of insolvent insurers, ensuring that policyholders receive the full extent of the benefits they are entitled to. This commitment to upholding the promises made by insurers provides peace of mind and stability for those who need it most. In a nutshell, the Life & Health Insurance Protection Association serves as a vital bridge for policyholders, connecting them to the benefits they deserve even when their insurers face financial instability.
Impact
This information is meant to be a general summary of Life & Health Insurance Protection Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The Life & Health Insurance Protection Association plays a crucial role in ensuring policyholders of insolvent life and health insurers are protected. By facilitating the payment of life, health, and annuity claims, as well as addressing other contractual obligations of existing insurance policies of insolvent insurers, the association actively safeguards the interests of policyholders. This assistance provided by the association is vital in maintaining the financial security and well-being of individuals who rely on these insurance policies.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ESTATE DISTRIBUTIONS/LIQUIDATIONS
Revenue
$20,070,882
PREMIUMS
Revenue
$1,103
Organization Details
Founding Year
1991
Phone
(800) 337-7796
Principal Officer
Lori Geadelmann
Main Address
201 ROBERT S KERR AVE 600, OKLAHOMA CITY, OK, 73102
Website
www.colifega.org
NTEE Category
Code: Y20 - Mutual benefit
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