How to name beneficiaries and fund a trust at CNO Financial
Beneficiaries are managed online, by phone or by mail. Trust paperwork is taken by phone or by mail
Beneficiary designations are the foundation of estate planning for CNO Financial 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.
Across 10 product types, CNO Financial policies vary in how they transfer at death. The sections below walk through beneficiary designations, trust funding options, and which products support each method.
Beneficiary form at CNO Financial
Life and Annuity Policy Information Form (Form 40-100).
Open the form →- Select the issuing company (Washington National Insurance Company, Wilcac Life Insurance Company, or Conseco Life Insurance Company of Texas)
- Select the policy type (Life, Health or Annuity)
Required Documents
- Current owner details (in Section A, with the new owner's information if ownership is changing)
- Beneficiary's full legal name (for each beneficiary, in Section B)
- Beneficiary's relationship (for each beneficiary, in Section B)
- Beneficiary's share (for each beneficiary, in Section B)
- Full legal trust name, date established, trustee and trust EIN (when naming a trust)
- Separate signed sheet listing the additional beneficiaries (if naming more than four beneficiaries)
- Documentation the change requires. A death certificate, marriage certificate or divorce decree, court order, or trust documentation
- Marriage certificate, divorce decree, court order or trust amendment documentation (for a legal name change in Section D)
- Copy of the current owner's death certificate (if the current owner is deceased). Submitted with documentation identifying the new owner
- Policy finder details (to find the form online). The policy number, and the owner or primary insured's first and last name, birthday and the last 4 digits of their Social Security number
- Full legal trust name exactly as written in the trust instrument
- Date the trust was established
- Trustee name(s) and contact information
- Trust Tax Identification Number (EIN)
Required Documents
- Life and Annuity Policy Information Form (Form 40-100), completed and signed. Sections A, B and F at minimum
- Trust documentation. The full trust agreement with any amendments; the first page, trustee or successor-trustee page and signature page of the trust; or a Certificate of Trust
- Full legal trust name, exactly as written in the trust instrument (in Section A)
- Date the trust was established (in Section A)
- Trustee name(s) and contact information (in Section A)
- Trust Tax Identification Number (EIN)
- Trust amendment documentation (if the trust name is being corrected under Section D)
- Spouse's signature on Section E (for an owner in a community property state or territory)
- Copy of the current owner's death certificate (if ownership is passing because the owner has died)
What CNO Financial says about beneficiaries and trusts
Each section is CNO Financial's own statement, with the document it comes from numbered under Sources.
Who can be named1
- A trust
A trust can be named. The form asks for the full legal trust name, the date established, the trustee and the trust's Tax Identification Number (EIN).1
How many beneficiaries, and how shares are split
- All accounts
Percentages across multiple beneficiaries must total 100%. If percentages are left blank, proceeds are divided equally.1
Every named beneficiary is treated as a primary beneficiary with equal distribution unless designated contingent. More than four beneficiaries are listed on a separate attached sheet.1
What a designation takes to be effective
- All accounts
A beneficiary change must be in writing and signed: no change is made unless Section F is signed by the current policyowner, and by all policyowners on a joint policy. In a community property state or territory the owner's spouse also signs Section E.1
A trust-owned policy is signed by the trustee with title. A business-owned policy is signed with title by two authorized officers (corporation) or one authorized individual (other entity) other than the insured, notarized or under the corporate seal.1
Beneficiary forms CNO Financial issues1
- Life and Annuity Policy Information Form (Form 40-100)
Completed by the current policyowner. Available to download.1
Return to
Fax: 1-800-757-6324
Mailing address: Washington National Insurance Company, PO Box 2022, Carmel, IN 46082-2022
What CNO Financial's agreement says about beneficiaries2
- A designation and a will
A beneficiary designation controls over a will or trust, so updating the estate plan alone does not change who receives the policy.1
- Changing or revoking a designation
Writing "irrevocable" next to a beneficiary makes the designation irrevocable. That beneficiary must then consent in writing, by signing Form 40-100, before the designation can be changed.1
Which accounts a trust can hold2
- Life insurance policy
Ownership of a life insurance policy is transferred to an irrevocable life insurance trust (ILIT) through Section A of Form 40-100, not a separate assignment form.1
- Annuity
Ownership of a non-qualified annuity can be transferred to a revocable living trust through Section A of Form 40-100.1
Trust account forms CNO Financial issues1
- Life and Annuity Policy Information Form (Form 40-100)
Completed by the current policyowner and the new policyowner. Available to download.1
Return to
Fax: 1-800-757-6324
Mailing address: Washington National Insurance Company, PO Box 2022, Carmel, IN 46082-2022
What CNO Financial says about trust accounts1
- Who signs for the trust
For an ownership change both the current and the new policyowner sign Section F. Where the trust is the signing party, the trustee signs with his or her title.1
If the owner lives in a community property state or territory, the spouse must sign Section E or the transfer will not be processed.1
Sources
Data sourced from CNO Financial primary sources (15 pages reviewed). How we research.
Download these CNO Financial instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against CNO Financial primary sources. Bring it to the branch or keep it beside the phone.
CNO Financial estate support
Washington National Policyholder Services (CNO Services, LLC)
Phone
Toll-free
Washington National General Inquiries
Bankers Life Policyholder Services
Bankers Life General Inquiries
Colonial Penn Policyholder Services
Colonial Penn General Inquiries
Colonial Penn New York Customers
Bankers Conseco Life (BCLIC, New York) General Inquiries
CNO Investor Hotline (corporate, not policyholder)
Fax
Hours
Mailing address
Website
Estate requests go through general customer service.
Estate planning articles
Learn how to protect your CNO Financial 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.
