Time Insurance Company | WI
Company Overview
Time Insurance Company, a Wisconsin domiciled life, health, annuity and LTC carrier, was placed in liquidation by order of the Circuit Court of Dane County, Wisconsin, as of September 1, 2022. The company had been in runoff since late 2014 and in rehabilitation since 2020.
Policy & Claims Administration
The policies of an insolvent insurance company are often transferred to a financially sound assuming company. In this case, the vast majority of Time’s insurance policies were transferred to assuming companies prior to the commencement of formal liquidation proceedings against Time. Most of the companies that acquired the policies had previously reinsured and administered the policies for several years pursuant to Reinsurance and Administration agreements with Time. All policyholders were notified of the policy transfers, and contact information for the assuming companies is included below. The assuming companies have all records relating to the policies they assumed. Please contact your assuming company with any claims or questions concerning your policy.
Policies that were not transferred to another company prior to the commencement of formal liquidation proceedings remained with Time Insurance Company as it was placed in liquidation. Those policies were continued in force, and have been administered by the life and health insurance guaranty associations, or a third-party administrator (TPA) working on behalf of the guaranty associations, since that time. All affected policyholders were notified of the liquidation, and were provided with contact information for the life and health insurance guaranty association in their state. That information is also available further below.
| Type of Policy | Company |
Effective Date |
|---|---|---|
| Health, Disability |
National Health Insurance Company |
Oct 01, 2020 |
| Disability |
Assurity Life Insurance Company |
Nov 01, 2020 |
| Health (Medicare Supplement) |
Loyal American Life Insurance Company |
Feb 01, 2021 |
| Long Term Care |
John Hancock Life Insurance Company (USA) |
Jul 01, 2022 |
| Life, Annuity |
Talcott Resolution Life and Annuity Insurance Company (Note: Much of the life business is administered by Prudential Insurance Company) |
Jul 01, 2022 |
| Life, Health |
Actuarial Management Resources, Inc. NOTE: The CA, FL, IL, KS, NV, NC, SC, and WI guaranty associations are administering policies of resident policyholders. |
Sep 01, 2022 - Jul 31, 2023 |
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 button below will take you to a page where you can search for 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: 69477
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: Wisconsin
The domiciliary state is the state in which an insurance company is incorporated or organized.
Rehabilitation Date: July 29, 2020
Liquidation Date: September 01, 2022