Over the course of your life, many things will change. The things you like, where you live and the people with whom you associate will all vary, even from one year to the next. With all of these changes taking place, it makes sense that you may want or need to change who it is that’s listed as the beneficiary of your life insurance policy. Luckily, learning how to change beneficiary insurance documents is a straightforward process.
Whether you’re recently divorced, you and your business partner are no longer working together or you’ve changed how you feel about a particular charitable organization, you may decide you want to change who or what it is that’s listed as beneficiary on your life insurance policy.
The first thing you will need to do is get in touch with the company that issued your life insurance policy and tell them that you would like to make a change to the beneficiary. They may send you a form or point you in the direction of their website where you can access the required document.
You will need to complete this form in its entirety and return it to your life insurance provider. Make sure you receive some form of confirmation from the provider regarding this change and print it off to keep for your records. It’s also wise to make sure you inform your new beneficiary or beneficiaries that you have named them on your policy and to update all records of your life insurance policy in your will and any other documents that may be referenced when settling your estate, after you’ve died.
The clearer you are with the information you provide about your new beneficiary, and the more people you inform of the changes you’ve made, the more straightforward it will be when you die and your affairs need to be settled. Now that you know how to change beneficiary insurance documents, the important thing to remember is to make your changes as soon as you decide it’s something you want to do. Life is unpredictable and you don’t want to leave these changes until it’s too late.