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Hearing that your health insurance company has gone out of business can be stressful. Even though the bankruptcy rate for insurance companies are relatively low, policyholders across the country are affected by them every year. Fortunately, you’re protected by the Government. All 50 states, Puerto Rico, and the District of Columbia have insurance company-funded guaranty associations. These regulatory agencies supervise insurance companies to ensure policyholders are protected if their providers run into financial difficulty. The state orders the liquidation of the company’s assets by state courts, according to the National Organization of Life and Health Guaranty Associations (NOLGHA). These assets then are converted into cash and given to the creditors to whom the defunct company was indebted, and also to the policyholders who would otherwise have lost their benefits.

Underwriting of a Visitor Health Insurance is the process of evaluating the risk of insuring an individual, such as in the case of health insurance, to determine if it’s going to bring some profit for the insurance company to take the chance and to insure a person. After determining a risk, the underwriter sets a price and establishes the insurance premium that will be charged in exchange for taking on that risk. If you’re currently looking for a Visitor Health Insurance go to this website.

All underwriting process in America has to follow certain rules to make sure that every customer is protected.  But sometimes bad things can happen and a health insurance company can get out of business.

Guaranty limits vary from state to state; they will pay certain claims and return accumulated cash value and unused premiums. Most state guaranty associations will pay at least the following amounts:

$300,000 for life insurance death benefits
$100,000 for accumulated cash value or other withdrawal values for life insurance
$100,000 for withdrawals and cash value for annuities
$100,000 in health insurance benefits

It is important to check with your state guaranty association for the actual limits on your policies. If a claim is made that is in excess of the guaranty association’s limits, a claim may be made against the remaining assets of the failed insurance company to be paid on a prorated basis once the assets are fully liquidated.

Now you know that if you buy Visitor Health Insurance coverage underwritten by American Insurance Company you’re going to be protected no matter what might happen with your Health Insurance Company. But if you buy Visitor Health Insurance underwritten by some foreign company, nobody can guarantee that if something bad happens with this company.

India Network Services has been in business for almost 30 years. Its US-based company. We don’t have any offices in India.  Please go to our website to learn more about our Visitor Health Insurance plans.

India Network Services is a US-based company that administers visitor health insurance to tourists, students, temporary workers and their families. Visitor medical plans are offered for all age groups (0-99 years old) with both fixed coverage, comprehensive coverage and with pre-existing condition coverage.

The India Network features are:

1. India Network Plans are sponsored by nonprofit India Network Foundation and underwritten by highly rated US Insurance companies.
2. All India Network Claims are processed in the United States following US standards that apply to domestic plans.
3. India Network Services pays 100% of all eligible claims; that is more than anyone else in the industry.