New Pa. law allows life insurance policies to be emailed
September 8, 2015 by IFAWebNews Staff
Pennsylvania life insurance policy owners and annuity holders will be able to receive and organize their documents by email, thanks to a new law that goes into effect on Sept. 8.
Sponsored by Pennsylvania state Rep. Tina Pickett (R-Bradford/Sullivan/Susquehanna), Act 30 of 2015 was signed into law this summer by Gov. Tom Wolf.
The new law gives life insurance companies the option to send policies and annuities to their customers electronically, if so chosen by the consumer. Companies still will have the option of delivery via the United States Postal Service or another postal delivery service.
“State laws need to keep up-to-date with current technology, and that also includes our insurance laws,” said Pickett, who chairs the House Insurance Committee. “Before this law, insurers were required to either hand deliver or send via certified mail to a policyholder an insurance policy or annuity. This update in state law makes this process less cumbersome for both the customer and the company.”
Under the new law, proof of delivery is established by the mailing to the owner; or the date of electronic transmission, as long as the consumer has agreed to use that format. In the event of a dispute with the policy/annuity owner, the burden of proof shall remain with the insurer to establish that a policy or annuity was delivered.