EQUITABLE BENEFICIAL LIFE INSURANCE COMPANY
| Date of Liquidation:
||April 7, 1994
||April 7, 1995
| States Where Licensed:
| Type of Business Sold:
|| Life & Annuity
All policies have been assumed, up to the limits allowed in the guaranty association law, by the following company:
Midland National Life Insurance Company
1 Sammons Plaza
Sioux Falls, SD 57193-0001
Telephone No.: (800) 923-3223
Due to guaranty association limits set on contractual obligations, some policyholders suffered cash losses. These losses are claims against the EBL estate and therefore must be paid through the distribution of the assets of the estate.
The Commonwealth Court of Pennsylvania approved a petition for partial distribution on July 18, 2001. Checks were mailed to all priority level "b" claimants on August 31, 2001. The checks represented a 30 % distribution on the cash loss that was experienced.
On August 15, 2005the Commonwealth Courtapproved the Liquidators petition to do a second and final distribution and to discharge the Liquidator. Checks were mailed to all priority level b claimants on September 30, 2005. The checks represented a 17.3% distribution on the cash loss that was experienced.
Therefore,EBL class b claimants received a total of 47.3% of their cash loss.
Email inquiries to the Liquidators