Annuity FAQs - Beneficiary

Who is the beneficiary of my annuity contract?

You may call our Customer Service Center to confirm the names of your beneficiary(ies). If immediately available, the information will be provided to you after you answer a few questions proving your identity as the contract owner. 

In some cases, we may be required to return your call with the information after our records have been reviewed.

What is a beneficiary class?

Your annuity contract identifies the qualifying event that determines when a beneficiary is eligible to receive the annuity claim proceeds. Please refer to your annuity contract for details.

Beneficiary class allows the contract owner to assign an order to who will receive the annuity proceeds.

• Primary Beneficiary - If living at the time of a qualifying death, the person(s) to receive the annuity claim proceeds.
• Contingent Beneficiary - If all Primary beneficiaries are deceased at the time of the qualifying death, then the contingent beneficiaries receive the annuity claim proceeds.

If all designated beneficiaries are deceased at time of the qualifying event, then the claim proceeds will be paid to the Estate of the contract owner.

How do I change the beneficiary on my annuity contract?

Complete the Change of Beneficiary section of an Annuity Change Request Form and mail the completed and signed form to our Customer Service Center.

We will send confirmation of your beneficiary change to you at your address of record.

Can I add or remove a beneficiary from my current beneficiary designation?

Yes, but you must submit a complete listing of your beneficiaries that you want to receive the annuity claim proceeds, not just the additions or deletions.

Each change of beneficiary received replaces any previous designations that were made.