Electronic Policy Delivery Is Convenient, But Not Always Well Received By Plaintiffs/ or Survivors

by John Darer® CLU ChFC MSSC CeFT RSP CLTC

Electronic delivery of structured settlement annuity contracts and other executed settlement documents has become the rule rather than the exception (Update)

While this appeals to those individuals and companies that want to reduce the environmental impact of paper consumption, save clutter, save physical storage space and reduce administrative costs, one needs to be cognizant that there may be some people that need something more tangible, for good reason.

Something Tangible and Thinking of Beneficiaries

1. For the injured party, who has only recently been introduced to structured settlements, it may represent something tangible for their loss. 
2. For their beneficiaries, when they die and if there are remamning paymenst, it is something that can be found in a drawer, box  or file cabinet after a death. Electronic copies of structured settlement documents stored on a computer may be useless and inaccessible, if someone cannot get into a phone computer, or cloud account, or if  accounts are frozen at the notice of death. 

Couldn't they just call the structured settlement broker?  What if the structured settlement broker is retired, deceased, or has switched companies or your don't know their name because they annuity was set up, for example, by the payee's grandmother when the payee was a child and granny's been gone for 15 years?  What if their firm has been disbanded?  It's hard enough when life insurance companies leave the market or merge. 

Secured Creditor Pledge

Sending a hard copy of a structured settlement annuity policy by FEDEX, UPS, USPS express mail or certified mail, with delivery signature required is more assured than an email delivery that offers the end recipient the opportunity to not acknowledge receipt. 

"Value for Money" Image

When the original version of this post was published in 2015,  electronic delivery of policies was in its infancy.  My thoughts then were that when you're allocating $1,000,000 or more of your settlement on an annuity contact it was not unreasonable to expect something more than an email with a pdf attached. Today it's well beyond its ascendancy and many people are used to getting digital copies. At the very least, life insurers that issue structured settlement annuities, are encouraged to offer a choice, and not simply default to the electronic delivery. 

Last updated January 14, 2024

Helpful link

Structured Settlement Annuity Company Customer Service Phone Numbers (4structures.com)