Policyholder Information

Company Overview

Midwest Life Insurance Company was owned by Southshore Holding Corporation and domiciled in Louisiana. The company was licensed in 29 states and had an emphasis on group single premium deferred and immediate annuities for qualified and nonqualified accounts. It also offered whole life, single premium life, term insurance, modified premium whole life and individual/group major medical insurance.

The company was placed in voluntary conservatorship in April 1991 with a plan for restructuring the investment portfolio and converting mortgage loans into more marketable securities. However, the plan failed and the company was ordered into receivership a few months later. The state life and health insurance guaranty associations helped arrange for Standard Life of Indiana to assume the life and annuity policies in 1992. Standard Life subsequently transferred the life policies to Madison National in 2005, and the annuity business to Guggenheim Life and Annuity Company (now known as Clear Spring Life and Annuity Company) in 2011. Contact information for Madison National and Clear Spring is provided below.

Policy & Claims Administration

Policies of an insolvent company are often transferred to a financially sound insurance company. If policies are not transferred to another company, the policies are continued and claims administered by either the guaranty associations or a third-party administrator (TPA) working on behalf of the associations. Please contact the company/TPA listed below or the guaranty association in your state of residence for more information about your policy.

Type of Policy	Company	Effective Date
Life	Standard Life Insurance Company of Indiana 10689 N. Pennsylvania Street Indianapolis, IN. 46280 800-222-3216 x 7003 http://www.standardlifeofindiana.com	Jun 01, 1992 - Jan 1, 2005
	Additional Information: Company is currently in liquidation. The policies were assumed by Madison National Life, whose information can be found below.
Life	Madison National Life (Being Administered by National Guardian Life) PO Box 2867 Clinton, IA. 52733 877.442.6965 https://nglic.com/Contact	Jan 01, 2005
Annuity	Clear Spring Life and Annuity Company (formerly Guggenheim Life and Annuity Company) 401 Pennsylvania Parkway, Suite 300 Indianapolis, IN. 46280 800.990.7626 https://guggenheimlife.com/	Jan 18, 2011
	Additional Information: Guggenheim Life and Annuity Company changed their name to Clear Spring Life and Annuity Company effective May 31,2022.
Annuity	Standard Life Insurance Company of Indiana 10689 N. Pennsylvania Street Indianapolis, IN. 46280 800-222-3216 x 7003 http://www.standardlifeofindiana.com	Jun 01, 1992 - Jan 17, 2011
	Additional Information: Company is currently in liquidation. The policies were assumed by Clear Spring Life and Annuity Company (formerly Guggenheim Life and Annuity Company).

Contact Information

Guaranty association coverage is coordinated on a state-by-state basis, with coverage usually being provided by the association in your state of residence, regardless of where you purchased your policy. Policyholders should contact their state guaranty association with any questions they have about their policies. The drop-down menu below will take you to your state association's Web site, which provides answers to frequently asked questions and contact information.

The liquidator, by court order, becomes the sole owner of the company's assets and administers the estate of the company.

If you are unsure whom to contact with your questions, please e-mail us here, and we will forward your message to the appropriate party.

Company Details

NAIC Number: 66060

An NAIC number is a five-digit number assigned to every insurance company by the NAIC (National Association of Insurance Commissioners). Because each company has its own unique number, the NAIC number can be used to identify a particular company.

Domiciliary State: Louisiana

The domiciliary state is the state in which an insurance company is incorporated or organized.

Rehabilitation Date: June 26, 1991

Liquidation Date: August 26, 1991

Estate Closed: June 24, 2008

Frequently Asked Questions