Life insurance guaranty funds 1.are sponsored by state insurance regulators. 2.involve a permanent reserve...

Life insurance guaranty funds

1.are sponsored by state insurance regulators.

2.involve a permanent reserve fund similar to the FDIC's bank deposit reserve.

3.require uniform contributions from each state when there is a failure of an insurance company.

4.make policyholder payments immediately in the event of an insurance company failure.

5.are regulated by the Federal Reserve Bank.

Expert Solution

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