Overview

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Est.

1982

Latest Fiscal Year

Not available

Organization Type

Grantseeker

AI Summary

The Alabama Life & Disability Insurance Guaranty Association is dedicated to providing payments to or on behalf of policyholders of insolvent insurance companies and ensuring continued coverage through reinsurance agreements and administrative services. With an operating budget of $17.7 million and total revenue of $46.8 million for the 2024 filing year, the organization plays a crucial role in the insurance sector within Alabama. It does not rely on a single funder for more than 50% of its revenue. For more information, visit www.allifega.org.

Mission Statement

PROVIDING PAYMENTS TO OR ON BEHALF OF POLICYHOLDERS OF INSOLVENT INSURANCE COMPANIES & PROVIDING CONTINUED COVERAGE FOR POLICYHOLDERS BY NEGOTIATING REINSURANCE AGREEMENTS OR PROVIDING ADMINISTRATIVE SERVICES.
Revenues
$46.8M
Expenses
$17.7M
Net Income:
+$29.1M
Assets
$49.2M
Liabilities
$89.7M
Net Assets:
-$40.5M
Operating Budget
$17.7M
Operating Budget by Year

Due Diligence

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Charity Verification Snapshot
IRS EO Business Master File Status
Listed as tax-exempt
IRS Pub 78 Status
Not in Pub 78 list
IRS Revocation Status
Not in Automatic Revocation of Exemption List
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D
Dotty Still
Board Member
L
Life Ins Co of Al Clarence Daugette
Board Member
U
Untd HLTH Care Life Sherry Gillespi
Board Member

Frequently Asked Questions

What is ALABAMA LIFE & DISABILITY INSURANCE GUARANTY ASSOCIATION’s budget?
In 2024, ALABAMA LIFE & DISABILITY INSURANCE GUARANTY ASSOCIATION reported an annual operating budget of around $17.7 million. More detailed financial information is available to registered users.
What causes does ALABAMA LIFE & DISABILITY INSURANCE GUARANTY ASSOCIATION support?
ALABAMA LIFE & DISABILITY INSURANCE GUARANTY ASSOCIATION supports work in Insurance.
Where does ALABAMA LIFE & DISABILITY INSURANCE GUARANTY ASSOCIATION operate?
ALABAMA LIFE & DISABILITY INSURANCE GUARANTY ASSOCIATION is headquartered in Birmingham, AL.