Estate planning options at OneMain
There are two ways to keep your OneMain accounts out of probate: adding beneficiary designations and structuring ownership to align with your estate plan. Which approach works best depends on the account type and your overall estate plan.
Each of OneMain's 3 accounts has different rules for how it transfers at death. The sections below explain the options for each.
Contact OneMain directly for information about adding or updating beneficiary designations on your accounts.
Why trust accounts are not available
OneMain does not currently support retitling accounts into a trust. The alternative is to name a trust as the Transfer on Death beneficiary, which provides similar probate-avoidance benefits while keeping the account in the individual's name.
Optional Credit Life Insurance
Optional Credit Life insurance sold with a OneMain loan, in single or joint coverage for the term of the loan, with the premium added to the loan payments. It is underwritten by American Health and Life Insurance Company, and in New York by Securian Life Insurance Company. The benefit is paid first to the creditor and applied to the loan balance, any excess is paid to the designated beneficiary under the certificate, and the benefit may not be enough to pay off the loan. The coverage can be cancelled at any time: within 60 days of the loan date for a full premium refund, and after that for a refund of the unearned premium, which the lender applies to the loan where state law permits.
Sources
Data sourced from OneMain primary sources (7 pages reviewed). How we research.
OneMain estate support
OneMain Financial Support
Phone
Vehicle title after payoff of a secured loan
Cancel optional insurance
Hours
Website
Estate requests go through general customer service.
Estate planning articles
Learn how to protect your OneMain accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreForms for Planning Your Estate
Free forms for planning your estate: a will, living trust, pour-over will, both powers of attorney, living will, and TOD deed.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Transfer on Death Deed
Transfer real property to a beneficiary upon your death without probate. Available in 34 states and the District of Columbia.
Tools for Planning Your Estate
Free tools for planning your estate: what a will or trust costs, whether you need a trust or TOD deed, and how documents are signed.
How Much Does a Revocable Living Trust Cost?
Compare revocable living trust costs across providers including online services and attorneys.
How Does SimplyTrust Compare to LegalZoom, Trust & Will, and Other Services?
Compare what it costs to make a trust official across SimplyTrust, LegalZoom, Trust & Will, Rocket Lawyer, and Quicken WillMaker.
Do I Need a Revocable Trust?
Find out if a revocable trust makes sense based on your state, estate value, and family situation.
Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
How Much Life Insurance Do I Need?
Calculate your life insurance needs based on income, debts, and family situation.
