What impact does a bankrupt insurance company have on my annuity?

When an insurance company goes through bankruptcy, the insurance coverage will continue, and annuity accounts will be covered and paid by state insurance guaranty associations, subject to each state's coverage limits. Guaranteed coverage amounts typically vary from $250,000 to $500,000 in benefits.","example":"\Example: \u003cstrong\u003eFor the state of New York: the total protection per owner per member company is $500,000 for all annuity contracts (many other states' limits are $250,000). As a result, if an individual owned three $250,000 annuities with the same insolvent insurance company, the individual would have the total New York Guaranty Corporation coverage of only $500,000. If an individual owned three $100,000 annuities with the same insolvent insurance company, all $300,000 contract value is fully covered. For State of Nebraska:the total protection per owner per member company is $250,000 for all annuity contract.","reminder":"\Reminder: Please check with your state's insurance guaranty association to see what amounts are covered for your annuity.