How to name beneficiaries and fund a trust at American Family
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch, by phone or by mail
Beneficiary designations are the foundation of estate planning for American Family policies. Unlike bank accounts, insurance products cannot be retitled into a trust. Instead, the beneficiary designation itself determines who receives the proceeds and how quickly they're paid. Naming a trust as beneficiary is an option when more control over distributions is needed.
With 10 product types, American Family offers a range of transfer options. Some policies support beneficiary designations, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.
Beneficiary form at American Family
Beneficiary designation form (for life insurance policys).
- Full legal names, dates of birth, Social Security numbers, and relationships
- Percentage allocations totaling 100% at each tier
- For trusts: the full legal trust name as written in the trust document, date established, trustee name(s), and trust EIN
- For trusts: attach a copy of the Certificate of Trust or the trust documentation
- Policy number, insured information, and owner information
- Primary beneficiaries: full legal names, dates of birth, Social Security numbers, relationships, and percentage allocations totaling 100%
- Contingent (secondary) beneficiaries with their own allocations totaling 100%
- For trusts: full legal trust name, date established, trustee name(s), and trust EIN
- For trusts: enclose a copy of the Certificate of Trust or trust documentation
Required Documents
- Each beneficiary's full legal name and relationship to the insured
- Each beneficiary's date of birth and Social Security number (with an agent or by mail)
- Trust name, date established, trustee names and trust EIN (when naming a trust). The full legal trust name exactly as it appears in the trust document
- Copy of the Certificate of Trust or the trust documentation (when naming a trust, with an agent or by mail)
- Policy number (with an agent, by phone or by mail)
- Government-issued identification (when meeting an agency owner)
Required Documents
- Executed trust instrument or Certificate of Trust. A copy of the Certificate of Trust or the trust documentation is taken in place of the instrument
- Full legal trust name. Exactly as written in the trust document
- Date the trust was established
- Trustee names
- Trust EIN
- Policy number. The 8-digit American Family Life policy number
- Signature of the current policy owner. Only the policy owner may sign
What American Family says about beneficiaries and trusts
Each section is American Family's own statement, with the document it comes from numbered under Sources.
Who can be named3
- A person
A person, or several people, can be named.1
- A charity or nonprofit
A charitable organization can be named.1
- A trust
A trust can be named.1
How many beneficiaries, and how shares are split
- All accounts
Any percentage can be allocated across any number of primary and contingent beneficiaries, with each tier totaling 100%. The contingent beneficiary receives the benefit if the primary is unavailable or unwilling to accept it.1
What a designation takes to be effective
- All accounts
Only the policy owner may sign a beneficiary designation. Where an ILIT owns the policy, the trustee signs, not the insured.1
Beneficiary forms American Family issues1
- Beneficiary designation form
For life insurance policys. Completed by the policy owner. Sent by the institution on request.1
Return to
Mailing address: American Family Life Insurance Company, 6000 American Parkway, Madison, WI 53783
What American Family's agreement says about beneficiaries4
- Online access
Beneficiary changes are not self-service. My Account offers only a limited view of policy information plus document printing; changes go through the agency owner or the Life Inforce Services team.3, 1
- A designation and a will
A beneficiary designation controls the death benefit regardless of what a will says.1
- A minor as beneficiary
For a minor child, American Family's guidance is to create a trust and name the trust rather than the child. Otherwise, it says, the benefit is paid to a court-appointed financial guardian and the child receives the full amount outright at 18 with no oversight or restrictions.1
- Divorce
If the owner intends a former spouse to keep the benefit, American Family says the owner must still designate that person as "former spouse," "ex-spouse" or a similar designation, even when a court order requires them to remain a beneficiary.1
Which accounts a trust can hold2
- Life insurance policy
Permanent policies (DreamSecure Whole Life, 15 Pay Whole Life and Flexible Life) and individual term policies (Choice Term and Simple Term) can all be owned by a trust.1
- Auto, home or renters policy
An auto or home policy is not assigned to a trust; it is rewritten for whoever takes title.1
Trust account forms American Family issues1
- Change-of-ownership form
For life insurance policys. Completed by the current policy owner. Sent by the institution on request.4
Return to
Mailing address: American Family Life Insurance Company, 6000 American Parkway, Madison, WI 53783
What American Family says about trust accounts3
- Who signs for the trust
After an ownership transfer, the trustee becomes the signing party on the policy.4
- A trust as owner of a policy
Only the current policy owner may sign an ownership assignment.4
An irrevocable life insurance trust is the standard owner for a transferred policy. A revocable living trust is commonly named as beneficiary rather than owner.1
- Online access
American Family does not offer an online path for an ownership change. My Account gives a limited view of policy information and document printing.3
Not in American Family's published guidance1
- Processing time for an ownership change
Sources4
- 1.American Family life insurance guidance
- 2.American Family agent locator
- 3.My Account
- 4.How do I change my policy ownership?
Sources
Data sourced from American Family primary sources (18 pages reviewed). How we research.
Download these American Family instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against American Family primary sources. Bring it to the branch or keep it beside the phone.
American Family estate support
Life Inforce Services (policy ownership changes, surrenders, policy copies)
Toll-free
Mailing address
Website
Estate planning articles
Learn how to protect your American Family accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreForms for Planning Your Estate
Free forms for planning your estate: a will, living trust, pour-over will, both powers of attorney, living will, and TOD deed.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Transfer on Death Deed
Transfer real property to a beneficiary upon your death without probate. Available in 34 states and the District of Columbia.
Tools for Planning Your Estate
Free tools for planning your estate: what a will or trust costs, whether you need a trust or TOD deed, and how documents are signed.
How Much Does a Revocable Living Trust Cost?
Compare revocable living trust costs across providers including online services and attorneys.
How Does SimplyTrust Compare to LegalZoom, Trust & Will, and Other Services?
Compare what it costs to make a trust official across SimplyTrust, LegalZoom, Trust & Will, Rocket Lawyer, and Quicken WillMaker.
Do I Need a Revocable Trust?
Find out if a revocable trust makes sense based on your state, estate value, and family situation.
Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
How Much Life Insurance Do I Need?
Calculate your life insurance needs based on income, debts, and family situation.
