How to name beneficiaries and fund a trust at Globe Life

A trust can be named as beneficiary, using the full legal trust name rather than a person's name.¹

Unspecified shares default to equal shares among survivors, for both the primary and the contingent tier: "Unless otherwise specified, proceeds are to be paid in equal shares to the survivor(s)."¹

Each beneficiary's share is entered as Proceeds. The AIL form prints five primary and five contingent lines, contingent beneficiaries being "to be paid if no surviving Primary Beneficiary at the time of death."¹

The AIL form requires an original signature returned by mail: it says to print it, sign it and mail it.¹

Completed by the policyowner. Available to download.¹

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Completed by the policyowner. Sent by the institution on request.²

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If no beneficiary is named while the policy is in force, or no named beneficiary is living at the insured's death, "the benefit will be issued to the Estate of the Insured."⁴

A beneficiary change cannot be made after the insured has died: "we are unable to accept a change in beneficiary designation after the insured has died."⁴

Globe Life does not limit how many times the policyholder changes the beneficiary during the insured's lifetime; the policyholder "may change the primary beneficiary, add additional beneficiaries, or elect to list a contingent beneficiary."⁴

A beneficiary change made in the portal is effective on submission. A mailed form depends on customer service processing.³

Four products can be owned by a trust: whole life, term life, final expense and children's life insurance.⁵

Mortgage protection is not one of them: Globe Life's own page calls it "an accidental death and dismemberment insurance policy." Accidental death benefits are a rider on a whole or term policy. For these, naming a trust as beneficiary is the only trust route.⁵

The supplemental health products and Medicare Supplement pay living benefits rather than a death benefit, so they cannot be owned by a trust.⁵

Moving policy ownership to an irrevocable life insurance trust is not a self-service action and not a portal function. It starts with a call to the issuing subsidiary's customer service line, not with a downloaded form.⁴

Policies issued by American Income Life^{2, 3}

Policies issued by Family Heritage^{2, 3}

Policies issued by Globe Life of New York^{2, 3}

Policies issued by Liberty National, individual and worksite^{2, 3}

Policies issued by National Income Life^{2, 3}

Policies issued by United American^{2, 3}