If a life insurance company goes bankrupt, what happens to whole life insurance benefits?

bellas asked: My Dad purchased whole life insurance through AXA Equitable which is all paid for. What happens if the life insurance company goes bankrupt or their assets are under water like so many other financial institutions these days? Will the benefits still be payable?
I also think it’s strange that he had to [...]

How much Social Security will my mom receive as a widow?

Rez asked: My mom is 62, was married for over 10 years, and has made very little money. She is currently receiving $700/mo alimony. My father has since remarried and has a child with his new wife (she also had a child coming into the marriage). I’ve read about a ‘family maximum’ [...]