How much annuity coverage does the North Carolina guaranty association provide?

“The North Carolina Life & Health Insurance Guaranty Association covers up to $300,000 for the present value of annuity benefits per individual, per member insurer, regardless of how many contracts you hold with that company. Structured settlement annuities are covered up to $1,000,000 per NC payee, and unallocated annuity contracts up to $5,000,000 per owner.”