What to do when a Farm Bureau Financial account holder dies
Report the death to Farm Bureau Financial's Life and Annuity Claims at 1-800-247-4170
When an insured person dies, the beneficiary or executor should contact Farm Bureau Financial's Life and Annuity Claims at 1-800-247-4170 to start the claims process. Insurance proceeds are paid directly to the named beneficiary and do not go through probate. How quickly the claim is processed depends on the policy type, documentation, and cause of death.
Death claim process
Here is the step-by-step death claim process at Farm Bureau Financial:
Filing a claim
- New Mexico residents use 431-203NM
- Residents of AR, FL, KS, LA, MD, MN, NC, ND, NV and NY use 431-204
- Everyone else uses 431-203
- Section A: the deceased person's name, date of birth, the policy numbers being claimed, the date of death and the cause of death
- Section B: the claimant's name, date of birth, street address, mailing address, Social Security or tax ID number, phone, citizenship, relationship to the deceased, and claim capacity
- Section C: the method of payment
- Section D: federal income tax withholding, on annuity claims only
- Section E: the authorization for release of information, which is valid for one year and which the claimant signs on page 4
- The claims fax is 1-800-814-5561
- Check the box on page 4 to have the death certificate returned
- A separate signed Beneficiary Statement for each beneficiary
- A certified copy of the death certificate, attached to one of the statements
- Payment Option Election form 431-205 if a Payment Contract option is elected
- Trustee Certification form 433-044 and the required trust pages if a trust is the beneficiary
- Letters of appointment, a conservatorship appointment, a will, or an entity certification, depending on the capacity in which the claim is filed
Required Documents
- Death certificateA certified copy, attached to one of the Beneficiary Statements.
- Beneficiary Statement, completed and signed, from each beneficiaryForm 431-203; 431-203NM in New Mexico; 431-204 in AR, FL, KS, LA, MD, MN, NC, ND, NV and NY.
- The policy or contract numbers being claimed
- The claimant's Social Security or tax ID number and street addressThe street address cannot be a post office box.
- Payment Option Election form 431-205, when a Payment Contract option is selectedThat option needs a minimum of $5,000 in proceeds.
- Trustee Certification form 433-044 and pages of the trust, for a living trustAt least the first page, the signature page and the pages naming the trustees or successor trustees; a separate Beneficiary Statement from each trustee; and the trust's tax ID number.
- Copy of the last will, with evidence of its validity, for a testamentary trustEvidence such as letters of administration, plus Trustee Certification form 433-044 and a separate Beneficiary Statement from each trustee.
- Certified copy of the court appointment (Letters Testamentary or of Administration), for an estateWith the estate's tax ID number. Each appointed legal representative completes a form.
- Certified copy of the conservatorship appointment, for a minor beneficiaryThe conservator completes the form, with the minor's Social Security number in item B4.
- Copy of the beneficiary's death certificate, for a beneficiary who died before the insured
- Copy of the power of attorney, when an agent under a power of attorney signsPlus POA Certification form 433-039 if the power of attorney is more than a year old.
- Entity Certification form 433-043 and a certified copy of the signer's authority, for a corporation, nonprofit or other entityThe certified copy is of the document authorizing the signer to act.
- Evidence of the name change, if a beneficiary's name has changed since the designation was made
Claims Contact
Website: Online portal →
Forms Farm Bureau Financial issues4
- Beneficiary Statement for Death Claims (form 431-203), for beneficiaries in most states
Completed by each beneficiary. Available to download.1
- Beneficiary Statement for Death Claims (form 431-204), for beneficiaries in AR, FL, KS, LA, MD, MN, NC, ND, NV and NY
Completed by each beneficiary. Available to download.2
- Payment Option Election form (431-205)
Available to download.3
- Trustee Certification (form 433-044)
Completed by the trustees. Available to download.4
Accounts handled elsewhere1
- Living Tradition Account service center
Living Tradition Accounts held at The Bank of New York Mellon5
Phone: 1-844-233-0900
Hours: Monday-Friday 8:00 AM-7:00 PM ET
What Farm Bureau Financial's agreement and guidance say3
- How proceeds are paid
On the standard Beneficiary Statement (431-203), a lump sum over $10,000 with no other election opens a Living Tradition Account, an interest-bearing personal draft account at The Bank of New York Mellon. A share under $10,000 is paid by check.1
On form 431-204, used in AR, FL, KS, LA, MD, MN, NC, ND, NV and NY, a lump sum payable by check is the stated default option, and the Living Tradition Account has to be chosen.2
The Living Tradition Account is a draft account, not a held claim: receipt of the draft book completes delivery of the proceeds. A single draft can be written for the whole balance, the minimum draft is $250, and the account closes and the balance is mailed once it falls below $1,000.5
Beyond a lump sum, the Payment Option Election form offers seven settlement options: interest only, a fixed period of years, life income with period certain, a fixed amount until proceeds are exhausted, life income with cash refund, joint and 100% to survivor, and joint and two-thirds to survivor.3
The fixed-period and period-certain options cannot run beyond the life expectancy of the primary payee, or the joint life expectancy of the payee and the payee's designated beneficiary. The form requires a contingent payee.3
- Indemnity a claimant may have to give
For a trust claim, the Trustee Certification asks the trustees to certify whether action for the trust must be taken by all trustees, may be taken by one trustee alone, or requires some other number. The trustees signing it personally indemnify Farm Bureau Life Insurance Company.4
- Wills, probate and small estates
When an estate is the beneficiary but is not being probated, the Beneficiary Statement instructions direct the claimant to contact the Claim Department rather than file the form on its own.1
Sources5
- 1.Beneficiary Statement for Death Claims, for beneficiaries in most states (form 431-203), ed. 02-22
- 2.Beneficiary Statement for Death Claims, for beneficiaries in AR, FL, KS, LA, MD, MN, NC, ND, NV and NY (form 431-204)
- 3.Payment Option Election form (431-205)
- 4.Trustee Certification (form 433-044)
- 5.Life Insurance Claims Center
Farm Bureau Financial's Life and Annuity Claims can be reached by phone at 1-800-247-4170 and fax at 1-800-814-5561 for questions throughout the claims process.
Sources
Data sourced from Farm Bureau Financial primary sources (15 pages reviewed). How we research.
Farm Bureau Financial death claims support
Life and Annuity Claims
Phone
Fax
Hours
Mailing address
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