How to name beneficiaries and fund a trust at Cigna

For group life and AD&D, the beneficiary designation lives with the employer, not the insurer: the employer's benefits enrollment system holds the record.¹

A trust may be named as primary or contingent beneficiary on any of these coverages.²

The designation gives percentage allocations for primary and contingent beneficiaries. Contingent beneficiaries take only if no primary beneficiary survives the insured.¹

For life insurance policys. Completed by the employee. Sent by the institution on request.¹

For life insurance policys. Sent by the institution on request.²

Group life beneficiary designations are governed by the plan document and override instructions in a will.¹

A group life designation is changed in the employer's enrollment portal during open enrollment or after a qualifying life event (marriage, divorce, birth, death of a beneficiary).¹

Group term life and AD&D cannot be owned by a trust. The employer owns the group policy and the employee holds only a certificate, so naming the trust as beneficiary is the only available path.¹

A HealthSpring (Loyal American Life Insurance Company) individual whole life policy is owned by the insured and can be assigned to an irrevocable life insurance trust (ILIT).³

For life insurance policys. Sent by the institution on request.³

Legacy Cigna group life and AD&D, and the Group Universal Life blocks it administers^{4, 5}

Individual whole life insurance insured by Loyal American Life Insurance Company³