Life insurance in Florida

How your policy is protected if an insurer fails

The Florida Life & Health Insurance Guaranty Association (FLAHIGA) was created in 1979. Every insurer licensed to sell life insurance, health insurance or annuities in Florida must belong to it. When a member is declared insolvent, a court appoints a receiver to wind the company down, and the covered policy obligations pass to FLAHIGA. The association collects the company's records and pays valid claims. It also collects premiums and keeps policies running, and it usually looks for a sound insurer to take over the business. Keep paying your premiums.

Limits from FLAHIGA's FAQ, as of October 4, 2026, consistent with NOLHGA's chart (as of June 1, 2025), with the overall cap from the NAIC's summary of state guaranty laws:

The annuity cap applies per owner per failed company, however many contracts you hold. FLAHIGA's example: three deferred annuities worth $100,000 each are protected for $250,000 in total, and the remaining $50,000 becomes a claim against the failed insurer's estate. FLAHIGA does not cover unallocated annuities, the non-guaranteed parts of variable products, fraternal benefit society products, HMO coverage or several kinds of prepaid service plans.

FLAHIGA is a private entity, not a state agency. Guaranty coverage is a backstop with limits that can take time to kick in, not a reason to buy from a weak insurer. Most states also bar agents from using guaranty coverage as a selling point. See state life and health guaranty associations and what happens if your life insurance company fails.

Who regulates life insurance in Florida

Florida splits the job between two agencies. The Office of Insurance Regulation (OIR) licenses insurance companies, approves products and rates, and monitors solvency. The Department of Financial Services (DFS), headed by the elected Chief Financial Officer, licenses agents and runs the Division of Consumer Services. DFS is where you go with questions, complaints and claim problems. Its Insurance Consumer Helpline is 1-877-MY-FL-CFO (877-693-5236).

Free look, grace periods and policy rules

• Free look: Under Fla. Stat. § 626.99, an insurer must give you a buyer's guide and policy summary before taking your first premium unless the policy offers an unconditional refund for at least 14 days. DFS's life insurance guide tells consumers to expect a 14-day free look that starts when the policy is in your hands. Note the delivery date, and return the policy by certified mail if you cancel. Annuities must allow at least 21 days. See the free-look period: returning a policy for a refund.
• Grace period: § 627.453 requires a grace period of at least 30 days for every premium after the first. The insurer may charge interest of up to 8% a year for the days of grace used, and it can deduct any unpaid premium from a claim.
• Secondary notice for older policyholders: under § 627.4555, a policy covering someone 64 or older that has been in force for at least a year cannot lapse for nonpayment unless the insurer mails a lapse notice at least 21 days before the lapse takes effect. The notice goes to the owner and to a secondary addressee if the owner named one. Insurers must offer that designation at application.
• Interest on death claims: § 627.4615 requires lump-sum death benefits to include interest from the date the insurer receives written proof of death. The rate is at least Moody's corporate bond yield average as of the day the claim was received.

Taxes, estates and community property

Florida has no state estate tax and no inheritance tax. Only the federal estate tax can apply, with a $15,000,000 per-person exclusion in 2026, according to the IRS. Florida is not a community property state.

Finding a lost policy or unclaimed benefits

DFS points families to the free NAIC Life Insurance Policy Locator; the insured must be deceased to use it. Participating insurers contact you directly if they find a policy. DFS also mentions MIB Group, which charges a fee to search its records of past life insurance applications. Then search Claim Your Cash FL, the DFS unclaimed property program. DFS says there is never a fee to search for or claim property. See how to find a lost life insurance policy and unclaimed life insurance money and state unclaimed property.

Life insurers based in Florida

Triple-S Vida is the Jacksonville-based mutual holding company behind Florida Blue. Its life insurance affiliates include Florida Combined Life.

Where to get help

• DFS Insurance Consumer Helpline: 877-693-5236 (1-877-MY-FL-CFO), or 850-413-3089 for insurance assistance; myfloridacfo.com.
• Request help or file a complaint: use the DFS consumer assistance portal. For a delayed death claim, DFS suggests calling the insurer's claims department first. If the insured died more than two years after the policy was issued and the company has had all requested documents for more than 30 days, DFS says it may be able to help. See how to file a complaint against a life insurer.
• Office of Insurance Regulation: 850-413-3140; 200 East Gaines Street, Tallahassee, FL 32399; floir.gov.
• Guaranty association: FLAHIGA, 1880 Eastwest Parkway, Unit 10162, Fleming Island, FL 32006-7787; 850-523-1870 or 800-695-1468.

Neighboring states: Georgia and Alabama.