Update your life insurance beneficiary

Thursday, January 17, 2019

Two hands holding a paper cutout of a family

Life happens quick. Marriage, divorce, the birth of a child, or the loss of a spouse are just a few of the events that could cause you to change the beneficiary on your life insurance benefits. If you have a Life Insurance Benefit included in your TeamCare benefits, it is important to update your beneficiary designation regularly.

Making sure your beneficiaries are up to date ensures your benefit is paid to the person(s) of your choice. Regardless of your will or estate plan, the beneficiary on record with TeamCare will be the person to receive your Life Insurance Benefit.

If there is no beneficiary on file, TeamCare will pay the benefit in full in the following order:

Life insurance payment distribution: Your surviving spouse, equal shares to your surviving children, equal shares to your surviving parents, equal shares to your surviving sibling

Update today! You can download a Life Insurance Designation Form here.