All Frequently Asked Questions

What is the difference between primary and alternate beneficiaries?

In the event of the insured's death, all death benefits will be paid to the primary beneficiary or beneficiaries. The alternate (or contingent) beneficiary or beneficiaries would receive the death benefit in the event there is no primary beneficiary alive. It is recommended to name both primary and alternate beneficiaries to avoid death benefits going to an estate, where it may be subject to estate taxes and a delay in disbursing money. If you would like to make a change to your beneficiaries, the policyholder would need to complete the appropriate Beneficiary Request Form within their account.