How to name beneficiaries and fund a trust at Farm Bureau Financial
Covers 6 insurance accounts — beneficiaries can be updated by phone
Customer Service
Farm Bureau Financial Services, 5400 University Avenue, West Des Moines, IA 50266-5997
Life and Annuity Customer Service
Farm Bureau Life Insurance Company, 5400 University Avenue, West Des Moines, IA 50266-5997
Life and Annuity Claims Center
Farm Bureau Life Insurance Company, 5400 University Avenue, West Des Moines, IA 50266-5997
For Farm Bureau Financial policyholders, estate planning comes down to one critical step: making sure the right beneficiaries are named on every policy. Insurance proceeds bypass probate entirely and go directly to whoever is listed—regardless of what a will says. When estate tax planning or controlled distributions are a factor, a trust can be named as beneficiary instead.
Farm Bureau Financial has 6 policies with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Only the policy owner can change the beneficiary designation
- The Beneficiary Designation form (433-64) requires the policy Owner's signature; no witness signature is required, but a Co-Owner, Assignee, or irrevocable Beneficiary must also sign where applicable
- The change takes effect only when recorded by the Company at its Home Office
- If naming a living trust as beneficiary (form item 4), provide the trustee name, grantor name, trust name, and trust date, and send a copy of the first page following the cover page and the signature page of the trust document
- If evidence of the trust's qualifications is not furnished within 365 days of the Insured's death, proceeds default to the Insured's estate
- Irrevocable beneficiary designations require the beneficiary's written consent (signature) to change
- Community property states: absent written notice of a community property interest, the Company relies in good faith that none exists, so spousal notification or consent may be advisable on certain policies
Sources
Data sourced from Farm Bureau Financial primary sources (22 pages reviewed). How we research.
Download these Farm Bureau Financial instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Farm Bureau Financial primary sources. Bring it to the branch or keep it beside the phone.
Customer Service
Farm Bureau Financial Services, 5400 University Avenue, West Des Moines, IA 50266-5997
Life and Annuity Customer Service
Farm Bureau Life Insurance Company, 5400 University Avenue, West Des Moines, IA 50266-5997
Life and Annuity Claims Center
Farm Bureau Life Insurance Company, 5400 University Avenue, West Des Moines, IA 50266-5997
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