What parties are intended to be protected under the California Life and Health Guarantee Association?

Question

1. Insurance and annuity agents and brokers
2. Insurance and annuity producers and insurers
3. Insurance and annuity owners and beneficiaries
4. Insurance and annuity separate account fund managers

Answer 1

The California Life and Health Guarantee Association is designed to protect policyholders. Therefore, the correct answer is:

3. Insurance and annuity owners and beneficiaries

This association provides a safety net for individuals who have life insurance policies and health insurance policies by covering their claims in the event that an insurer becomes insolvent.