Guide · Beneficiaries · 2 min read
How beneficiary changes work
A beneficiary change is a request the policy owner sends to the insurer. Here's how it usually works.
Who can ask for the change
Only the policy owner can. That's often the insured person, but not always. If someone else owns the policy, they sign the request. If a current beneficiary is named as irrevocable, that person usually has to agree in writing. Some states also give a spouse certain rights.
How the request usually goes
Most insurers have their own change form. You can often get it from their website or by calling them. It usually asks for the policy number, each beneficiary's full name, relationship and date of birth, and shares that add up to 100 percent. Some insurers want a witness or a notary.
A will usually doesn't override the beneficiary on file. The insurer generally pays whoever its records show.
After you send it
Ask the insurer to confirm in writing that the change was recorded, and keep a copy. If you want to name a child, ask how the insurer handles minors. An attorney can explain options like a trust.
What to ask your insurer
- Who is listed as the owner of this policy?
- Who is on file now as primary and contingent beneficiary?
- Can you send me your change of beneficiary form?
- Do you need a witness, a notary, or anyone else's signature?
- How will you confirm the change once it's recorded?
This guide gives general information and is not advice on your own policy. Your policy contract and the insurer make the final call.