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London Pacific Life & Annuity Company
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Raleigh, North Carolina
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| Company Overview |
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| London Pacific Life & Annuity Company's administrative office was located in Raleigh, N.C., with another office located in Sacramento, Calif., handling customer service, information technology, and marketing functions. London Pacific focused primarily on marketing annuity products, with residual sales in life insurance. A voluntary Rehabilitation Order was issued August 6, 2002, with a subsequent Moratorium Order issued August 23 (effective August 19). A final order of liquidation with a finding of insolvency was issued July 8, 2004 (effective September 30). An Exchange Agreement was negotiated with Hartford Life Insurance Company for the deferred annuity block of business, although some policyholders opted to cash out their policies or have them administered by their state life and health insurance guaranty association. Hartford Life also had assumption agreements covering both the universal life and payout annuity blocks.
If you have any questions, please contact your state life and health insurance guaranty association.
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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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Annuity
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Philadelphia American Life Insurance Company
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200 Westlake Park Boulevard, Suite 1200
Houston, TX. 77079-2663 |
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| 800-713-4680 |
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| http://www.neweralife.com |
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More
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October 13, 2004
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Annuity
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Philadelphia American Life Insurance Company
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200 Westlake Park Boulevard, Suite 1200
Houston, TX. 77079-2663 |
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| 800-713-4680 |
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| http://www.neweralife.com |
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More
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October 01, 2007
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Deferred Annuities
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October 12, 2004
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Variable Annuities
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Fidelity Security Life Insurance Company
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3130 Broadway
Kansas City, MO. 64111-2406 |
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| 800.648.8624 |
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| http://www.fslins.com/ |
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December 31, 2003
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Universal Life
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July 11, 2005
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Payout Annuities/Supplemental Contracts
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August 01, 2004
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| [ Back ] |
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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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North Carolina |
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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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August 06, 2002 |
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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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| Liquidation Date: |
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September 30, 2004 |
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The liquidation date is the date that the state court orders the liquidation of the company. The liquidator is the domestic state insurance commissioner, who appoints a deputy liquidator (also called a special deputy receiver) to marshal the company's assets and pay the claims asserted against the liquidated company according to the state's insurance receivership priority statute. |
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© 2001-2008 All Rights Reserved. The National Organization of Life & Health Insurance Guaranty Associations |
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