How to name beneficiaries and fund a trust at North American
Covers 11 insurance accounts — beneficiaries can be updated by phone
Life Division — Policy Service
North American Company for Life and Health Insurance, Life Division, One Sammons Plaza, Sioux Falls, SD 57193
Life Division — Policy Service
North American Company for Life and Health Insurance, Life Division, One Sammons Plaza, Sioux Falls, SD 57193
Life Division — Claims and Benefits Department
North American Company for Life and Health Insurance, Life Division, P.O. Box 5088, Sioux Falls, SD 57117 (overnight: One Sammons Plaza, Sioux Falls, SD 57193)
For North American 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 11 product types, North American policies vary in how they transfer at death. The sections below walk through beneficiary designations, trust funding options, and which products support each method.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Beneficiary changes must be made in writing on the company form; North American does not process them verbally.
- Only the policy or contract owner (or an attorney-in-fact with the certification form) can change a beneficiary designation.
- Percentages must total 100%; fractions are not accepted.
- If no per stirpes/per capita election is made on the annuity form, per capita applies by default.
- An irrevocable beneficiary designation requires the irrevocable beneficiary's signature and their consent to any later change.
- JOINT-OWNER ANNUITY TRAP: on a jointly owned annuity, death proceeds are payable on the death of the FIRST owner, and they are payable to that owner's primary beneficiary. If the surviving joint owner is not named as the primary beneficiary, the surviving joint owner is not entitled to the proceeds.
- On an owner-driven annuity contract, death proceeds are not payable on the death of the annuitant, so no beneficiary designation is needed for the annuitant.
- A beneficiary designation overrides a will. The will does not control who receives the death benefit.
Sources
Data sourced from North American primary sources (15 pages reviewed). How we research.
Download these North American instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against North American primary sources. Bring it to the branch or keep it beside the phone.
Life Division — Policy Service
North American Company for Life and Health Insurance, Life Division, One Sammons Plaza, Sioux Falls, SD 57193
Life Division — Policy Service
North American Company for Life and Health Insurance, Life Division, One Sammons Plaza, Sioux Falls, SD 57193
Life Division — Claims and Benefits Department
North American Company for Life and Health Insurance, Life Division, P.O. Box 5088, Sioux Falls, SD 57117 (overnight: One Sammons Plaza, Sioux Falls, SD 57193)
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