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Are there limits on the amount that guaranty funds will pay?

Yes. Most guaranty funds limit the amount they pay to the amount of coverage provided by the policy or $300,000, whichever is less. These coverage “caps” are fixed by state law; the guaranty funds play no role in setting coverage caps. Most guaranty funds pay 100 percent of their state’s statutorily defined workers’ compensation benefits.

faq | by Dr. Radut