How to designate beneficiaries at Nationwide

Annuity beneficiaries can be changed online (Select your policy > Beneficiaries > Manage beneficiaries) or on the Beneficiary Change Request (APO-5309). Nationwide's annuity forms page says its annuity forms can be filled out and submitted online.^{1, 2, 3}

On a contract with a GLWB Joint Option (New Heights) or Spousal Continuation, naming any primary beneficiary other than your spouse, including a trust, permanently terminates those benefits.³

If the owner cannot provide proof that the marriage ended by divorce, dissolution or annulment, the rider charge continues for the life of the contract. Where Spousal Protection is tied to the death benefit, removing your spouse as primary beneficiary also removes them as co-annuitant, and they can never be re-added.³

Life insurance beneficiaries are changed on the Application for Change of Beneficiary Designation (LAF-0119AO), uploaded online through the "Forms" option or mailed.^{4, 5}

An irrevocable beneficiary on a life policy cannot be changed without that beneficiary's consent, and other policy changes may require their signature.⁴

A trust can be named as a primary or contingent beneficiary through the Trust entity option on both the annuity and the life form, with a Certification of Trust.^{3, 4}

For a life policy payable to a trust, Nationwide may rely on a statement from the trustees that a living trust is active. If that evidence is not furnished within six months after the insured's death, the proceeds may be paid to the contingent beneficiary.⁴

For a testamentary trust, Nationwide may rely on a certified copy of the qualification and appointment of the trustees or of the probating of the will. If that evidence is not furnished within six months after the insured's death, the proceeds may be paid to the contingent beneficiary.⁴

Primary and contingent beneficiaries are named with allocations in whole percentages totaling 100%.^{3, 4}

The life form states fractional percentages such as 1/3 are not accepted.⁴

The annuity form states fractions may delay processing.³

The owner and any joint owner sign the form.^{3, 4}

Where the contract or policy was issued in, or the owner lives in, one of the eleven community property states and territories listed on both forms, the spouse signs the consent or the owner signs an owner indemnification.^{3, 4}

The life form must be signed by all persons with ownership or other rights in the policy: co-owners, joint owners, co-trustees and previously named irrevocable beneficiaries.⁴

Outside Massachusetts, Nationwide strongly recommends a witness on the life form. The witness must be a disinterested person over 18 who is not being named as a beneficiary.⁴

For annuitys. Completed by the owner. Available to download.³

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For life insurance policys. Completed by the owner. Available to download.⁴

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Every beneficiary change form supersedes all previous designations. All primary and contingent beneficiaries must be re-listed, and "same" or "no change" is not accepted.^{3, 4}

Nationwide will not pay insurance proceeds to minors. A court-appointed guardian of the estate, a conservator, a custodian under a state Uniform Transfers to Minors Act, or a trust are the customary recipients of funds payable on behalf of a minor.⁴

Nationwide takes state divorce-revocation statutes into account when processing claims.^{3, 4}

A witness signature is required on the life insurance form (LAF-0119AO) for Massachusetts residents and for Massachusetts-issued policies.⁴

Nationwide's annuity forms page states a witness signature is required for Massachusetts residents changing an annuity beneficiary, so the change cannot be submitted online. Form APO-5309 itself carries no witness line.^{2, 3}

Indiana's divorce-revocation provisions are incorporated by express reference into both the annuity and the life designation.^{3, 4}

Missouri's divorce-revocation provisions are incorporated by express reference into both the annuity and the life designation.^{3, 4}