How to name beneficiaries and fund a trust at Modern Woodmen
Beneficiaries are managed online, by phone or by mail. Trust paperwork is taken by phone or by mail
For Modern Woodmen 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.
Across 17 product types, Modern Woodmen policies vary in how they transfer at death. The sections below walk through beneficiary designations, trust funding options, and which products support each method.
Beneficiary form at Modern Woodmen
Form 948, Request for Change of Beneficiary or Name.
Open the form →- Named individuals: full name, address, relationship, date of birth, and Social Security number for each
- A class (for example "lawful children"): everyone in the class who survives the insured shares
- A living (inter vivos) trust, which must already be in effect
- A trust under the insured’s will (testamentary trust)
- The estate of the insured; if the estate is chosen, no other names may be listed
Required Documents
- Beneficiary's full name, address and relationship (for each named individual)
- Beneficiary's date of birth and Social Security number (for each named individual)
- Address and taxpayer ID (for a corporation, business or charity). These are named in the individual space on the form
- Trust name, date executed, grantor and trustee(s) (for a living trust). The form does not ask for a trust EIN
- Final beneficiary (for a living trust or a testamentary trust). Takes the proceeds if the trust is not properly qualified or fails to make claim within 120 days of the date of death
- Living class members (for a class designation). Listed to help locate them
- Method of settlement (in all cases). One Sum, Deposit at Interest, or another option
- Certificate number (by phone)
- Form 948, completed and signed (by mail, fax or upload). Original signatures in black or dark blue ink. Corrections are lined through and initialed rather than covered with white-out
- Check the "Living Trust" box and enter the name of the trust, the date of the trust, who executed it (grantor), and the trustee(s)
- Name a final beneficiary with their relationship
- Sign with an original signature, have an adult who is not a beneficiary witness it, and mail to P.O. Box 2005, Rock Island, IL 61204-2005 or fax to 309-793-5547
- Enter the trust as the assignee. Only one assignee may be named; the assignee’s taxpayer identification number (EIN for a trust) is required
- Sign the form in the presence of a Notary Public, who affixes a seal
- After the assignment is recorded, file a separate Form 948 to make the trust the beneficiary
- The form’s instructions direct it to Modern Woodmen of America, Members’ Service Department, 1701 1st Avenue, Rock Island, IL 61201
- The website FAQ directs the same form to P.O. Box 2005, Rock Island, IL 61204-2005; confirm with the Service Center at 309-558-3077 before mailing a notarized original
- Modern Woodmen records the assignment (signed by the National Secretary) and returns an acknowledgement to the assignee to keep with the certificate
Required Documents
- Form 948, Request for Change of Beneficiary or Name (to name a trust as beneficiary). Original signature plus an adult witness who is not a beneficiary
- Form 953, Absolute Assignment (Retention of Beneficiary) (to transfer certificate ownership to an ILIT). Signed before a Notary Public who affixes a seal
- Trust name, date executed, grantor and trustee(s). The trust does not have to be filed with Modern Woodmen to be named as beneficiary
- The trust’s taxpayer identification number (EIN) (on Form 953, for a non-individual assignee). Trust EIN documentation (IRS Letter 147C or SS-4 confirmation) supports it
- Final beneficiary name and relationship (whenever a living or testamentary trust is named as beneficiary)
- The trustee’s mailing address (after an assignment). It becomes the address of record for premium and all other notices
- Form 201, Secondary Addressee Designation (if a second person is to receive the late-payment reminder notice)
- Form 338, Authorization to Release Information (if someone other than the owner needs to ask about the certificate before death). It names only one authorized party, permits no transactions, and expires one year from signing or at the owner’s death, whichever is earlier
- Named individuals: full name, address, relationship, date of birth, and Social Security number for each
- A class (for example "lawful children"): everyone in the class who survives the insured shares
- A living (inter vivos) trust, which must already be in effect
- A trust under the insured’s will (testamentary trust)
- The estate of the insured; if the estate is chosen, no other names may be listed
Required Documents
- Beneficiary's full name, address and relationship (for each named individual)
- Beneficiary's date of birth and Social Security number (for each named individual)
- Address and taxpayer ID (for a corporation, business or charity). These are named in the individual space on the form
- Trust name, date executed, grantor and trustee(s) (for a living trust). The form does not ask for a trust EIN
- Final beneficiary (for a living trust or a testamentary trust). Takes the proceeds if the trust is not properly qualified or fails to make claim within 120 days of the date of death
- Living class members (for a class designation). Listed to help locate them
- Method of settlement (in all cases). One Sum, Deposit at Interest, or another option
- Certificate number (by phone)
- Form 948, completed and signed (by mail, fax or upload). Original signatures in black or dark blue ink. Corrections are lined through and initialed rather than covered with white-out
- Named individuals: full name, address, relationship, date of birth, and Social Security number for each
- A class (for example "lawful children"): everyone in the class who survives the insured shares
- A living (inter vivos) trust, which must already be in effect
- A trust under the insured’s will (testamentary trust)
- The estate of the insured; if the estate is chosen, no other names may be listed
Required Documents
- Beneficiary's full name, address and relationship (for each named individual)
- Beneficiary's date of birth and Social Security number (for each named individual)
- Address and taxpayer ID (for a corporation, business or charity). These are named in the individual space on the form
- Trust name, date executed, grantor and trustee(s) (for a living trust). The form does not ask for a trust EIN
- Final beneficiary (for a living trust or a testamentary trust). Takes the proceeds if the trust is not properly qualified or fails to make claim within 120 days of the date of death
- Living class members (for a class designation). Listed to help locate them
- Method of settlement (in all cases). One Sum, Deposit at Interest, or another option
- Certificate number (by phone)
- Form 948, completed and signed (by mail, fax or upload). Original signatures in black or dark blue ink. Corrections are lined through and initialed rather than covered with white-out
- Check the "Living Trust" box and enter the name of the trust, the date of the trust, who executed it (grantor), and the trustee(s)
- Name a final beneficiary with their relationship
- Sign with an original signature, have an adult who is not a beneficiary witness it, and mail to P.O. Box 2005, Rock Island, IL 61204-2005 or fax to 309-793-5547
- Enter the trust as the assignee. Only one assignee may be named; the assignee’s taxpayer identification number (EIN for a trust) is required
- Sign the form in the presence of a Notary Public, who affixes a seal
- After the assignment is recorded, file a separate Form 948 to make the trust the beneficiary
- The form’s instructions direct it to Modern Woodmen of America, Members’ Service Department, 1701 1st Avenue, Rock Island, IL 61201
- The website FAQ directs the same form to P.O. Box 2005, Rock Island, IL 61204-2005; confirm with the Service Center at 309-558-3077 before mailing a notarized original
- Modern Woodmen records the assignment (signed by the National Secretary) and returns an acknowledgement to the assignee to keep with the certificate
Required Documents
- Form 948, Request for Change of Beneficiary or Name (to name a trust as beneficiary). Original signature plus an adult witness who is not a beneficiary
- Form 953, Absolute Assignment (Retention of Beneficiary) (to transfer certificate ownership to an ILIT). Signed before a Notary Public who affixes a seal
- Trust name, date executed, grantor and trustee(s). The trust does not have to be filed with Modern Woodmen to be named as beneficiary
- The trust’s taxpayer identification number (EIN) (on Form 953, for a non-individual assignee). Trust EIN documentation (IRS Letter 147C or SS-4 confirmation) supports it
- Final beneficiary name and relationship (whenever a living or testamentary trust is named as beneficiary)
- The trustee’s mailing address (after an assignment). It becomes the address of record for premium and all other notices
- Form 201, Secondary Addressee Designation (if a second person is to receive the late-payment reminder notice)
- Form 338, Authorization to Release Information (if someone other than the owner needs to ask about the certificate before death). It names only one authorized party, permits no transactions, and expires one year from signing or at the owner’s death, whichever is earlier
What Modern Woodmen says about beneficiaries and trusts
Each section is Modern Woodmen's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
Who can be named7
- A person
Named individuals can be beneficiaries.2
A beneficiary named on a certificate insuring a minor must have an insurable interest in the child’s life: responsibility in whole or in part for the child’s care and welfare.3
- A trust
A living trust can be named if it is already in effect. A final beneficiary must also be named, to take the proceeds if the trust is not properly qualified or does not claim within 120 days of the date of death.2
- A trust created by a will
A trust under the insured’s will can be named. A final beneficiary must also be named, as for a living trust.2
- The estate
The estate of the insured can be named. If the estate is chosen, no other names may be listed.2
- A class of people, such as "my children"
A class of people, such as "lawful children", can be named. Presently living class members are listed on the form to help locate them.2
- A business
Corporations and businesses may be named in the individual space with their address and taxpayer ID.2
- A charity or nonprofit
Charities may be named in the individual space with their address and taxpayer ID.2
How many beneficiaries, and how shares are split
- All accounts
Proceeds are split equally among surviving principal beneficiaries unless a different split is stated. Contingent beneficiaries take only if no principal beneficiary survives.2
A class designation (for example "lawful children") is supported: everyone in the class who survives the insured shares.2
What a designation takes to be effective
- All accounts
Signatures must be original and must be witnessed by an adult who is not a named beneficiary.2
Beneficiary forms Modern Woodmen issues1
- Form 948, Request for Change of Beneficiary or Name
Completed by the certificate owner. Available to download.2
Return to
Fax: 1-309-793-5547
Mailing address: Modern Woodmen of America, P.O. Box 2005, Rock Island, IL 61204-2005
What Modern Woodmen's agreement says about beneficiaries6
- When a designation takes effect
No change of beneficiary is effective until it is acknowledged in writing by the National Secretary. When acknowledged, it takes effect on the date the request was signed, subject to any payment made or other action taken by the Society before the acknowledgement.2
- Changing or revoking a designation
A separate Form 948 is required for each certificate. The form revokes all prior beneficiary designations on that certificate, so a beneficiary who is meant to remain must be re-listed.2
- What the owner keeps while living
The certificate owner cannot specify how a beneficiary uses the proceeds.2
Changing a beneficiary does not change ownership of the certificate. Ownership moves only on Form 953 (Absolute Assignment), and after an assignment only the assignee can request a beneficiary change.4
On a certificate insuring a child, the applicant holds ownership only until the insured turns 21, often the anniversary after the 16th birthday on former Equitable Reserve Association certificates. After that the applicant can no longer request information or make changes.3
- A minor as beneficiary
Proceeds payable to a minor beneficiary are held by the Society until the minor reaches legal age, unless a court-appointed guardian of the minor’s estate requests payment sooner.3
- Online access
Former Equitable Reserve Association certificates cannot be viewed or changed in the member portal. Accounts created on the old member website before March 25, 2021 must be re-registered on the current portal.1
- Changing the owner of a policy or account
After an absolute assignment, all notices, including premium notices, are sent in care of the assignee. The assignee becomes the only party Modern Woodmen will accept changes from or release information to.3
State requirements Modern Woodmen statesNew York
- New York
On a certificate insuring a child issued in New York, the applicant holds ownership only until the insured turns 16. After that the applicant can no longer request information or make changes.3
Which accounts a trust can hold2
- IRA
A qualified annuity, an IRA or Roth IRA, cannot be absolutely assigned or collaterally assigned. Only life insurance and nonqualified annuity certificates can move ownership.4
- Annuity
On a nonqualified annuity, Modern Woodmen states an absolute assignment also transfers the tax obligations to the new owner.4
Trust account forms Modern Woodmen issues3
- Form 953, Absolute Assignment (Retention of Beneficiary)
For life insurance policys. Available to download. Must be notarized.4
Return to
Mailing address: Modern Woodmen of America, Members’ Service Department, 1701 1st Avenue, Rock Island, IL 61201
- Form 201, Secondary Addressee Designation
Available to download.5
Return to
Mailing address: Modern Woodmen of America, Premium Services, PO Box 2005, Rock Island, IL 61204-2005
- Form 338, Authorization to Release Information
Available to download.6
What Modern Woodmen says about trust accounts2
- A trust as owner of a policy
Form 953 is titled "Absolute Assignment (Retention of Beneficiary)." Death benefits stay payable to the beneficiary named at the time of the assignment unless the assignee requests a change before the insured dies, and pass to the assignee only if no designated beneficiary survives.4
Modern Woodmen’s instructions on Form 953 state the principal beneficiary and the assignee should be the same. After the assignment is recorded, the trustee files a separate Form 948 to make the trust the beneficiary.4
- Statements on a trust account
Modern Woodmen sends all ordinary premium due notices and late payment notices only to the certificate owner’s address of record. Form 201 is the only way a co-trustee or family member hears about a missed premium.5
Accounts handled elsewhere1
- Equitable Reserve Association line
Former Equitable Reserve Association certificates3
Phone: 1-800-722-1574
Sources6
- 1.Modern Woodmen member website
- 2.Form 948, Request for Change of Beneficiary or Name, Rev. 9-21
- 3.Modern Woodmen beneficiary and ownership guidance
- 4.Form 953, Absolute Assignment (Retention of Beneficiary), Rev. 4-11
- 5.Form 201, Secondary Addressee Designation, Rev. 1-26
- 6.Form 338, Authorization to Release Information, 08-2013
Sources
Data sourced from Modern Woodmen primary sources (15 pages reviewed). How we research.
Download these Modern Woodmen instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Modern Woodmen primary sources. Bring it to the branch or keep it beside the phone.
Modern Woodmen estate support
Members' Service Department (beneficiary changes, assignments)
Phone
Toll-free
Fax
Hours
Mailing address
Website
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