Well, it happened. Your wife ran away with your brother. Your son bet your savings on a horse who came in dead last. Your daughter joined a cult and changed her name to Moonbeam. And that pasta sauce your sister brought over had a distinct taste of bitter almonds. Fortunately, your nephew has yet to do anything unforgivable. Time to change the beneficiary on your life insurance! It may sound like a headache, but it’s something you need to do before the very worst happens to you. 

How To Change The Beneficiary On Your Life Insurance

While you can change a beneficiary at any time, the sooner you can the better. (Particularly if your sister is taking cooking tips from Catherine de Medici.) It will relieve you to know that only you, the policyholder, have the authority to change the beneficiary. All you need do is reach out to your insurance company and request confirmation. Ask for a Change of Beneficiary form. Fill out this form and double check to make sure that everything is correct and in full. You will need your beneficiary’s full legal name and some other details as required. You may submit the form via the internet, the mail or in person as required by your insurer. Most companies have a web portal to make things easier for their clients. This applies, of course, if you have a revocable beneficiary. If you have an irrevocable beneficiary, you may have to have their consent to remove them. Also, if your nephew is a minor, you may not be able to claim him as a beneficiary, but you can arrange for a trust fund to be opened when he comes of age. 

For more information, please contact us at Associated Insurance Agencies Inc. Now serving the Westerville, OH area.