How to name beneficiaries and fund a trust at Legal & General America
Covers 2 insurance accounts — beneficiaries can be managed online
Brand change
Legal & General Group, plc sold its US protection business to the Meiji Yasuda Group. Banner Life Insurance Company and William Penn Life Insurance Company of New York continue operating under those names, and the "Legal & General America" umbrella brand has been retired in favor of the Banner Life family-of-companies brand. Policies, forms (still hosted at forms.lgamerica.com), contacts, and claims processes are unchanged; lgamerica.com 301-redirects to bannerlife.com. Effective February 2026.
The procedures below reflect Legal & General America's accounts. Account servicing may transfer as the change takes effect.
Legal & General America
Subsidiary of Meiji Yasuda Group (acquired from Legal & General Group, plc)
bannerlife.com→
Banner Life Customer and Administrative Services
Phone1-301-279-4800
Toll-Free1-800-638-8428
Fax1-301-294-6960
Mailing Address
Banner Life Insurance Company, 3275 Bennett Creek Avenue, Frederick, MD 21704
William Penn (New York) Customer Service
William Penn direct
Banner Life Retirement Services
William Penn Retirement Services
WebsiteLearn more→
William Penn Life Insurance Company of New York (Customer Service)
Phone1-516-794-3700
Toll-Free1-800-346-4773
Fax1-516-229-3081
Mailing Address
William Penn Life Insurance Company of New York, 3275 Bennett Creek Avenue, Frederick, MD 21704 (registered office: 70 East Sunrise Highway, Suite 500, Valley Stream, NY 11581)
Banner Life Claims Department
Fax1-301-294-6960
Mailing Address
Banner Life Insurance Company, Claims Department, 3275 Bennett Creek Avenue, Frederick, MD 21704
William Penn Claims (New York)
Retirement Services Claims
WebsiteNotify online→
Verified Jul 2026
Beneficiary designations are the foundation of estate planning for Legal & General America 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.
Each of Legal & General America's 2 policies has different rules for how it transfers at death. The sections below explain the options for each.
Banner Life Level Term Life InsuranceBanner Life Guaranteed Universal Life Insurance
1
Log in to your policyholder account at my.bannerlife.com
2
Open the policy you want to change and go to the beneficiary section
3
Enter primary and contingent beneficiary details:
- Full legal name, address, SSN or Tax ID, telephone number, and date of birth for every beneficiary
- Percentage allocations that total exactly 100% (the LP200 instructions require a percentage, not a dollar amount)
- For a trust: the exact trust name, trust date, and trust Tax ID, e.g. "The John Doe Irrevocable Trust dated 1/1/2001, Eric Smith trustee"
4
Review and submit. Banner Life notes that a new designation replaces all prior designations on that policy.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- A policy benefit of $500,000 or more requires the policy owner's signature to be NOTARIZED on the LP200; below $500,000 a copy of a driver's license or state ID is accepted instead
- On a trust-owned policy, all trustees must sign the LP200 and attach either the first and signature pages of the trust or a completed Trust Certification LU1277 (LU1277WP for William Penn)
- A new designation replaces all prior designations on that policy — list every beneficiary you want to keep
- Benefits cannot be paid directly to a minor; name a UTMA custodian or a court-appointed guardian of the minor's estate
- Any irrevocable beneficiary must sign the change; in community property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI, Puerto Rico) a spousal signature may be required
- If the policy carries a collateral assignment, the assignee must sign or release the assignment first
- New York residents hold William Penn policies and use LP200WP and 800-346-4773
Sources
Data sourced from Legal & General America primary sources (19 pages reviewed). How we research.
Download these Legal & General America instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Legal & General America primary sources. Bring it to the branch or keep it beside the phone.
Legal & General America
Subsidiary of Meiji Yasuda Group (acquired from Legal & General Group, plc)
bannerlife.com→Banner Life Customer and Administrative Services
Phone1-301-279-4800
Toll-Free1-800-638-8428
Fax1-301-294-6960
Mailing Address
Banner Life Insurance Company, 3275 Bennett Creek Avenue, Frederick, MD 21704
William Penn (New York) Customer Service
William Penn direct
Banner Life Retirement Services
William Penn Retirement Services
WebsiteLearn more→
William Penn Life Insurance Company of New York (Customer Service)
Phone1-516-794-3700
Toll-Free1-800-346-4773
Fax1-516-229-3081
Mailing Address
William Penn Life Insurance Company of New York, 3275 Bennett Creek Avenue, Frederick, MD 21704 (registered office: 70 East Sunrise Highway, Suite 500, Valley Stream, NY 11581)
Banner Life Claims Department
Fax1-301-294-6960
Mailing Address
Banner Life Insurance Company, Claims Department, 3275 Bennett Creek Avenue, Frederick, MD 21704
William Penn Claims (New York)
Retirement Services Claims
WebsiteNotify online→
Verified Jul 2026
Estate planning articles
Learn how to protect your Legal & General America accounts and other assets with trusts, beneficiary designations, and estate planning documents.
