How to name beneficiaries and fund a trust at Kemper

The eForms portal serves United Insurance Company of America, The Reliable Life Insurance Company, Union National Life Insurance Company, Mutual Savings Life Insurance Company, and policies Kemper administers for Jackson National Life Insurance Company.¹

One Form C-0013 is filed for each policy number.²

For a joint whole life plan, the second insured's beneficiaries are designated separately in Section VI.²

A trust is named with the form's trustee-plus-date-of-agreement wording, and a copy of the Trust Agreement is provided.²

The estate is named as "Executor or Administrator of the Insured's estate, or estate".²

A corporation is named as "XYZ Corporation, or its successors".²

Where a funeral home is listed as beneficiary, the death benefit payable to it is limited "to the extent of services provided", with any remainder going to the contingent beneficiary or, if none is listed, to the insured's estate.²

Each child is named individually, and a person is named rather than by a relational form like "Mrs. John Doe", for example "Jane Doe, spouse".²

Each person is marked primary or contingent and given a percentage. Percentages must total 100%, proportions are treated as equal unless stated otherwise, and dollar amounts are not listed.²

Where only a contingent beneficiary is added or changed, the primary beneficiary is restated on the form.²

The policyowner signs while the insured is alive and the policy is in force. For a minor-owned policy, the parent or legal guardian who signed the application signs.²

By signing, the policyowner certifies that the right to change the beneficiary is not encumbered by bankruptcy proceedings, or by a pledge or assignment of the policy for the benefit of creditors.²

For life insurance policys. Completed by the policyowner. Available to download.²

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Form C-0013 states: "If no named beneficiary is living at the insured's death, the beneficiary is the insured's estate".²

An irrevocable beneficiary designation may not be changed without the prior written consent of that beneficiary. A change may not be prohibited by the terms of an existing assignment, beneficiary designation, or other restriction.²

Section I (Change of Beneficiary) revokes all previous designations.²

The change must be submitted to the Home Office while the insured is alive and the policy is in force.²

The change is not valid until recorded by the Home Office, but once recorded it is effective as of the date the policyowner signed. Valid, recorded changes are acknowledged under separate written notice.²

A life policy is assigned to an Irrevocable Life Insurance Trust through Section V (Change of Ownership) of Form C-0013, the same form used for beneficiary and address changes.²

For life insurance policys. Completed by the present owner and the trustee. Available to download.²

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Section V transfers "all rights, interests, claims, powers and privileges" in the policy to the trustee.²

Both the present owner and the new owner must sign and give taxpayer identification numbers.²

The new owner's signature block accepts a Social Security Number or Tax ID, so the trust's EIN goes there.²

Policies Kemper administers for it through the eForms portal¹