Great Plains Life
Subsidiary of Antarctica Capital (via Midwest Holding Inc. / American Life & Security Corp.)
american-life.comHow to name beneficiaries and fund a trust at Great Plains Life
Beneficiaries are managed by phone or by mail. Trust paperwork is taken by phone or by mail
Great Plains Life has merged with another institutionMerged, effective December 2016
Great Plains Life Assurance Company was merged into American Life & Security Corp. on December 1, 2016, per Midwest Holding Inc.'s SEC Form 10-K and the Nebraska Department of Insurance's own examination report, and no longer operates as a separate insurer. Start with American Life & Security Corp. ("American Life") in Lincoln, Nebraska -- 402-489-8266, fax 402-489-8295, 2900 South 70th Street, Suite 400, Lincoln, NE 68506 -- which holds the merger records and can locate any Great Plains Life policy. But the block moved again after the merger: American Life coinsured 100% of it to US Alliance Life and Security Company on September 30, 2017, and the SOUTH DAKOTA POLICYHOLDER portion was then assumed outright by Dakota Capital Life Insurance Company on December 31, 2020, which merged into US Alliance Life and Security Company on December 31, 2023. If the insured was a South Dakota policyholder, the claim is US Alliance's: 1-866-953-4675, fax (785) 228-0202, service@usalliancelife.com, 1303 SW First American Place, Suite 200, Topeka, KS 66604. Original Great Plains Life policy numbers are still valid on either route. American Life's parent, Midwest Holding Inc., was acquired by an affiliate of Antarctica Capital on December 21, 2023. There is no separate American Life & Security Corp. or US Alliance record in this directory yet, so no successorId is set.
Beneficiary designations are the foundation of estate planning for Great Plains Life 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.
The transfer rules at Great Plains Life vary across 2 policies. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
Beneficiary form at Great Plains Life
Beneficiary change form (for life insurance policys) and US Alliance Life and Security Company beneficiary change form, for South Dakota-issued policies (for life insurance policys).
Required Documents
- Policy number. The original Great Plains Life policy number remains valid for all servicing requests, on either carrier
- Insured's full legal name, date of birth and Social Security number (if you cannot find the policy number)
- Primary beneficiary's full legal name, date of birth, SSN, address and relationship
- Contingent beneficiary's details (if you name one)
- Percentage allocations (if you name more than one beneficiary)
- Trust's exact legal name, the date it was signed and the trustee names (for a trust)
- Consent of the irrevocable beneficiary (if the policy carries an irrevocable beneficiary designation)
- Naming the trust as beneficiary: enter the trust's exact legal name, the date the trust was signed, and the trustee name(s) in place of an individual's birth date and SSN
- Transferring ownership to the trust: the trustee becomes the new owner and signs as trustee; the trust EIN is generally required for an irrevocable trust
Required Documents
- Beneficiary change form, or ownership change / absolute assignment form. Requested from American Life & Security Corp. by phone
- Exact legal name of the trust, the trust date and the trustee names
- Trust EIN (for an irrevocable trust, including an ILIT)
- Trustee's government-issued photo identification
- Certification of trust, or trust pages showing the trust name, date and acting trustees (if requested). Either is accepted
- Full trust document (if American Life requests it)
- Policy owner's signature
- Trustee's signature as new owner (on an ownership assignment)
What Great Plains Life says about beneficiaries and trusts
Each section is Great Plains Life's own statement, with the document it comes from numbered under Sources.
Who can be named1
- A trust
A trust can be named as beneficiary, using the trust's exact legal name, the date the trust was signed and the trustee names in place of an individual's birth date and SSN.1
How many beneficiaries, and how shares are split
- All accounts
A contingent beneficiary can be named, and the form takes percentage allocations when more than one beneficiary is named.1
What a designation takes to be effective
- All accounts
The policy owner's signature is required on every beneficiary change. A phone representative cannot change the designation without a signed form.2
If the policy has an irrevocable beneficiary designation, that beneficiary must consent to any change.2
Beneficiary forms Great Plains Life issues2
- Beneficiary change form
For life insurance policys. Completed by the policy owner. Sent by the institution on request.1
Return to
Fax: 1-402-489-8295
Mailing address: American Life & Security Corp., 2900 South 70th Street, Suite 400, Lincoln, NE 68506
- US Alliance Life and Security Company beneficiary change form, for South Dakota-issued policies
For life insurance policys. Completed by the policy owner. Sent by the institution on request.3
What Great Plains Life's agreement says about beneficiaries1
- When a designation takes effect
A change form sent to the wrong carrier is not a recorded designation. Only the carrier that now holds the policy can record a beneficiary change on it.2
State requirements Great Plains Life statesSouth Dakota
- South Dakota
A Great Plains Life policy issued to a South Dakota policyholder was assumed by Dakota Capital Life Insurance Company on December 31, 2020 and is now serviced by US Alliance Life and Security Company. Policies issued in other states are still American Life contracts.2
Trust account forms Great Plains Life issues1
- Ownership change / absolute assignment form
For life insurance policys. Completed by the current policy owner and the trustee. Sent by the institution on request.4
Return to
Fax: 1-402-489-8295
Mailing address: American Life & Security Corp., 2900 South 70th Street, Suite 400, Lincoln, NE 68506
What Great Plains Life says about trust accounts1
- A trust as owner of a policy
Ownership of the policy can be transferred to a trust by an absolute assignment, typically to an ILIT. The trustee becomes the new owner and signs as trustee, and both the owner and the trustee sign the assignment.4
On an assumed policy, an ownership assignment has to be recorded by the carrier that now holds the contract.4
State requirements Great Plains Life statesSouth Dakota
- South Dakota
On a Great Plains Life policy issued to a South Dakota policyholder, only US Alliance Life and Security Company can record a beneficiary or ownership change.2
Accounts handled elsewhere1
- US Alliance Life and Security Company
Great Plains Life policies issued to South Dakota policyholders3
Phone: 1-866-953-4675
Email: service@usalliancelife.com
Not in Great Plains Life's published guidance4
- A beneficiary form to download
- A procedure for holding an account in a trust
- Downloadable ownership change form
- Trust documentation the carriers require
Sources4
- 1.Beneficiary change form
- 2.American Life & Security Corp. policyholder service
- 3.US Alliance Life and Security Company service
- 4.Ownership change / absolute assignment form
Sources
Show 2 more sourcesShow fewer sources
Data sourced from Great Plains Life primary sources (15 pages reviewed). How we research.
Download these Great Plains Life instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Great Plains Life primary sources. Bring it to the branch or keep it beside the phone.
Great Plains Life estate support
American Life & Security Corp. (successor to Great Plains Life)
Phone
US Alliance Life and Security Company
Fax
Mailing address
Website
Estate requests go through general customer service.
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