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Settlers Life Insurance Company
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Bristol, Virginia
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| Company Overview |
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| Settlers Life was domiciled in Virginia and licensed in 17 states. The company marketed its products principally in the states of Virginia, North Carolina, and Tennessee. The principal products of Settlers Life were pre-need life and final expense life. The company also wrote small blocks of cancer and other A&H insurance.
On May 14, 1999, the company was ordered into rehabilitation. On September 1, 1999, the Deputy Receiver of Settlers Life entered into a letter of intent with National Guardian Life Insurance Company. Accordingly, Settlers Life has been rehabilitated (without support by guaranty associations) and will continue operations as a subsidiary of National Guardian Life.
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| Policy & Claims Administration |
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| Policies of an insolvent company are often transferred to a financially sound insurance company. If policies are not transferred to another company, the policies are continued and claims administered by either the guaranty associations or a third-party administrator (TPA) working on behalf of the associations. Please contact the company/TPA listed below or the guaranty association in your state of residence for more information about your policy. |
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Type of Policy
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Transferred to:
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Transfer Date
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All
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National Guardian Life Insurance Company
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2 East Gilman Street
Madison, WI. 53703-1494 |
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| 800-548-2962 |
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| http://www.nglic.com |
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More
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December 01, 1999
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NOTE: Was rehabilitated. Operates as subsidiary of NGL.
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| Contact Information |
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| Guaranty association coverage is coordinated on a state-by-state basis, with coverage usually being provided by the association in your state of residence, regardless of where you purchased your policy. Policyholders should contact their state guaranty association with any questions they have about their policies. The drop-down menu below will take you to your state association's Web site, which provides answers to frequently asked questions and contact information. |
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| The liquidator, by court order, becomes the sole owner of the company's assets and administers the estate of the company. |
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| If you are unsure who to contact with your questions, please e-mail us here, and we will forward your message to the appropriate party. |
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| Company Details |
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An NAIC number is a five-digit number assigned to every insurance company by the NAIC (National Association of Insurance Commissioners). Because each company has its own unique number, the NAIC number can be used to identify a particular company. |
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| Domiciliary State: |
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Virginia |
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The domiciliary state is the state in which an insurance company is incorporated or organized. |
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| Rehabilitation Date: |
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May 14, 1999 |
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Following the rehabilitation date, the insurance commissioner of the company's domiciliary state initiates a process whereby every attempt is made to help the company regain its financial footing. |
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| Released from Oversight: |
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December 15, 1999 |
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The released from oversight date is the date that the company is released from Department oversight. This company never went into liquidation. |
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© 2001-2009 All Rights Reserved. The National Organization of Life & Health Insurance Guaranty Associations |
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