Structured Settlement Checklist
Author: Joe Pileggi
Structured Settlement Checklist
Courtesy of EPS Settlements Group of Canada
– “The Structured Settlements Company”.
Yes, it is that time of year again. Everyone needs to be prepared for the September 15th through to December 15th settlement rush. It is the time when Plaintiff and Defence counsel rush to settle claims; Insurers want to close files; and, plaintiffs are a little more motivated so they can have a stress free holiday season.
As we all know structured settlements are a integral part of the ultimate settlement resolution especially in catastrophic injury claims. Here are a few considerations to help facilitate the settlement process:
Structured Settlement Checklist
1. What amount of the Total Settlement is to be structured?
2. Do I have up to date printouts?
3. Does my client understand the intricacies of a structured settlement, especially in cases involving Court Approval?
4. Will the structured settlement be owned by the casualty insurer or is the ownership to be assigned?
5. Is there any time restriction with respect to the conveyance of funds for the structured Settlement?
6. Who has the right to name the beneficiary (or the right of a reversionary interest)?
7. Does the casualty insurer reserve the right to approve (or disapprove) of the structured settlement plan ultimately selected by the claimant?
8. In a Sabs case, does the casualty insurer agree to pay the benefits as incurred up to the date of commencement of the structured settlement payments?
When in doubt give me a call! – 647-896-4907
Please feel free to contact Joe via his LinkedIn for annuity illustrations or other structure questions and the advantages of placing your structures with the experts at EPS Settlements Group of Canada.
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