How to name beneficiaries and fund a trust at EquiTrust
Beneficiaries are managed by phone or by mail. Trust paperwork is taken by phone or by mail
Estate planning with EquiTrust policies centers on beneficiary designations—the single most important step for ensuring life insurance proceeds and annuity benefits reach the intended recipients without probate involvement. Unlike bank or brokerage accounts, insurance products are not retitled into trusts; instead, trusts are named as beneficiaries when estate tax planning or controlled distributions are needed.
EquiTrust has 20 product types, and the estate transfer rules differ across them. Some support beneficiary designations, some can be retitled into a trust, and others pass through the estate if nothing is set up. Each is covered below.
Beneficiary form at EquiTrust
Beneficiary Designation Form (ET-2532), for annuity contracts and life policies alike, Beneficiary Designation with Restricted Payout Form (ET-2533NQ), non-qualified annuity (for annuitys), Beneficiary Designation with Restricted Payout Form (ET-2533Q), qualified annuity (for annuitys) and Beneficiary Designation with Restricted Payout Form (ETL-2533NQ), life policy (for life insurance policys).
- Primary beneficiaries with full legal names, dates of birth, Social Security numbers or TINs, relationships, addresses, and percentage allocations totaling 100%
- Contingent beneficiaries if desired with their own details and percentage allocations totaling 100%
- For trusts: provide the full legal trust name, date established, and trust EIN
Required Documents
- Contract or policy number and owner information
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number or TIN
- Beneficiary's relationship to the owner
- Beneficiary's address
- Full legal trust name, date established and trust EIN (for a trust)
- Beneficiary Designation with Restricted Payout Form, completed (for restricted payout instructions)
- Name your trust as the annuity or policy beneficiary
- Transfer ownership of an annuity or life insurance policy to a trust
- For naming a trust as beneficiary: complete the Beneficiary Designation Form with trust details
- For transferring ownership to a trust: complete the ownership change or assignment form
- Full legal trust name exactly as it appears in the trust document
- Date the trust was established
- Trust EIN (Employer Identification Number)
- Trustee name and contact information
- Legal name of the trust
- Date of the agreement or will that established it, and the dates of any amendments
- The grantor, settlor or testator
- Trust type: inter vivos revocable, inter vivos irrevocable, or testamentary
- The trust taxpayer identification number
- The governing state
- Names, addresses, phone numbers and emails of all current and successor trustees
Required Documents
- Completed Beneficiary Designation Form (for naming the trust as beneficiary)
- Ownership change or assignment form (for transferring ownership to a trust)
- Trust Information Form and Trustee Certification (ET-TRUST-2502) (with every trust-owned application). Three pages; the form is incomplete without all of them
- Trust's legal name, dates, grantor, type and governing state. The legal name of the trust, the date of the establishing agreement or will, the dates of any amendments, the grantor, settlor or testator, the trust type and the governing state
- Trust taxpayer identification number. A unique EIN obtained from the IRS
- Trust EIN documentation. IRS Letter 147C or SS-4 confirmation
- Names, addresses, phone numbers and emails of all current and successor trustees
- Certificate of Trust or trust abstract. Do not send the full trust document unless requested
- Trustee identification
- Copy of the will and the letters testamentary (for a testamentary trust)
What EquiTrust says about beneficiaries and trusts
Each section is EquiTrust's own statement, with the document it comes from numbered under Sources.
Who can be named1
- A trust
A trust named as beneficiary needs its own EIN. EquiTrust will not accept the deceased owner's Social Security number as the trust's tax ID at claim time.1
A trust can be named as the beneficiary of an EquiTrust annuity or life insurance policy, so that proceeds pay directly into the trust.2
How many beneficiaries, and how shares are split
- All accounts
Percentage allocations must total 100% for each beneficiary tier, primary and contingent.1
What a designation takes to be effective
- All accounts
Only the contract or policy owner can change beneficiary designations.1
Spousal consent may be required in community property states.1
Beneficiary forms EquiTrust issues4
- Beneficiary Designation Form (ET-2532), for annuity contracts and life policies alike
Sent by the institution on request.3
Return to
Mailing address: EquiTrust Life Insurance Company, P.O. Box 14500, Des Moines, IA 50306-3500 (overnight delivery: 7100 Westown Pkwy Suite 200, West Des Moines, IA 50266-2521)
- Beneficiary Designation with Restricted Payout Form (ET-2533NQ), non-qualified annuity
For annuitys. Sent by the institution on request.4
- Beneficiary Designation with Restricted Payout Form (ET-2533Q), qualified annuity
For annuitys. Sent by the institution on request.4
- Beneficiary Designation with Restricted Payout Form (ETL-2533NQ), life policy
For life insurance policys. Sent by the institution on request.4
What EquiTrust's agreement says about beneficiaries2
- A designation and a will
Beneficiary designations override instructions in a will.1
- Changing or revoking a designation
An irrevocable beneficiary cannot be changed without the beneficiary's written consent.1
Which accounts a trust can hold2
- Annuity
A trust can own an EquiTrust annuity directly. EquiTrust requires the grantor of the trust to be the annuitant.2
An application for a trust-owned annuity where the grantor and the annuitant are different people will generally be viewed as unsuitable.2
- Life insurance policy
A trust can own an EquiTrust life insurance policy directly. For a trust-owned policy, the grantor of the trust must be the insured.2
Trust account forms EquiTrust issues2
- Trust Information Form and Trustee Certification and Indemnification Agreement (ET-TRUST-2502)
Completed by the trustees; every current trustee signs the certification. Available to download.6
Return to
Fax: 1-515-226-5103
Mailing address: EquiTrust Life Insurance Company, P.O. Box 14500, Des Moines, IA 50306-3500 (overnight: 7100 Westown Pkwy Suite 200, West Des Moines, IA 50266-2521)
- Ownership change or assignment form
Sent by the institution on request.5
What EquiTrust says about trust accounts3
- Who signs for the trust
Electronic signatures are accepted on ET-TRUST-2502 and notarization is not required, but every current trustee signs its certification.6
- Successor trustees
By the certification the trustees agree to notify EquiTrust in writing of any later amendment, any change of successor trustee, and the death or incapacity of any trustee.6
- Review of the trust document
By the certification the trustees warrant that the trust has not been revoked or amended in a way that would make the form incorrect.6
EquiTrust reserves the right to require proof that the trust is in full force and effect before it pays any proceeds or death benefit.2
Not in EquiTrust's published guidance1
- A beneficiary form to download
Sources6
- 1.EquiTrust beneficiary designation guidance
- 2.EquiTrust trust ownership guidance
- 3.EquiTrust forms index
- 4.Beneficiary Designation with Restricted Payout Form
- 5.My EquiTrust Contact Us
- 6.Trust Information Form and Trustee Certification and Indemnification Agreement (ET-TRUST-2502), revision 07-23
Sources
Data sourced from EquiTrust primary sources (28 pages reviewed). How we research.
Download these EquiTrust instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against EquiTrust primary sources. Bring it to the branch or keep it beside the phone.
EquiTrust estate support
Policyholder Services
Phone
Website Support
Fax
Hours
Mailing address
Website
Estate requests go through general customer service.
Estate planning articles
Learn how to protect your EquiTrust 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.
