What happens if your Di company goes out of business?

[shooter]

Just a thought.
We have had annuity and life companies that went into receivership.
What about DI?
The last one I remember was Provident years ago.

In a previous thread I ask about Illinois Mutual & Assurity.
Both companies have an A- rating the last time I checked.
So, what does happen if your receiving DI benefits and the company
goes into receivership.
Even if you're not receiving benefits, but have a policy?

Thanks,
Shooter

 

[Tahoe Ray]

Just a thought.
We have had annuity and life companies that went into receivership.
What about DI?
The last one I remember was Provident years ago.

In a previous thread I ask about Illinois Mutual & Assurity.
Both companies have an A- rating the last time I checked.
So, what does happen if your receiving DI benefits and the company
goes into receivership.
Even if you're not receiving benefits, but have a policy?

Thanks,
Shooter

The same terrible crap that goes on when annuity and life companies go into receivership.

[EXTERNAL LINK] - The Insolvency Process

If you sell DI as a main product, you basically have to offer IM and Assurity or you're not going to write any blue-collar folks. Both carriers are over 100 years old. Not saying that makes them financially strong, just that they've made it through a lot of different economic environments.

I'd prefer just to write every client with Guardian but that would cut out a huge percentage of folks that still need DI.