How to name beneficiaries and fund a trust at Physicians Mutual
Covers 10 insurance accounts — beneficiaries can be updated by phone
Physicians Mutual Customer Service
Physicians Life Insurance Company, Life Customer Service, PO Box 3313, Omaha, NE 68103-0313
Physicians Mutual / Physicians Life Customer Service (beneficiary and ownership changes)
Change of Beneficiary (form LX14): Physicians Mutual / Physicians Life Insurance Company, Customer Service, PO Box 3272, Omaha, NE 68103-0272. Ownership Change / ILIT assignment (form LX511): Physicians Life Insurance Company, Life Customer Service, PO Box 3313, Omaha, NE 68103-0313.
Physicians Life Insurance Company - Claims Services
Physicians Life Insurance Company, Claims Services, PO Box 2018, Omaha, NE 68103-2018
For Physicians Mutual 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 10 product types, Physicians Mutual policies vary in how they transfer at death. The sections below walk through beneficiary designations, trust funding options, and which products support each method.
- Have your policy number and date of birth ready
- Ask them to mail you form LX14, the Change of Beneficiary Designation for Life and Health Policies
- For an annuity contract, call the annuity line at 1-800-720-2891 instead
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Beneficiary changes must be mailed on form LX14. Physicians Mutual does not accept them online or over the phone
- Percentage allocations must total 100 percent within the primary tier and again within the contingent tier
- Death proceeds cannot be paid to a minor child. Physicians Mutual requires a trust or a guardianship to be in place for a minor to receive proceeds, and discourages naming minors as primary beneficiaries
- Naming a trust requires attaching a copy of the trust (trustee powers and limitations, execution date, signature page), not just a certificate of trust
- FUNERAL HOME BENEFICIARIES: Physicians Mutual recommends against naming a funeral home as primary beneficiary, and where one is named, company policy requires a contingent beneficiary. Benefits are paid to the funeral home only to the extent of its interest and the remainder goes to the contingent beneficiary. Funeral homes are NOT allowed to be named as beneficiary at all in MD, MI, MT, NJ, OK, PA, SD, TX, and WV
- When naming an organization, list the organization's name rather than a person at the organization
- If an agent under a power of attorney signs instead of the owner, a copy of the document granting that authority must be attached
Sources
Data sourced from Physicians Mutual primary sources (22 pages reviewed). How we research.
Download these Physicians Mutual instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Physicians Mutual primary sources. Bring it to the branch or keep it beside the phone.
Physicians Mutual Customer Service
Physicians Life Insurance Company, Life Customer Service, PO Box 3313, Omaha, NE 68103-0313
Physicians Mutual / Physicians Life Customer Service (beneficiary and ownership changes)
Change of Beneficiary (form LX14): Physicians Mutual / Physicians Life Insurance Company, Customer Service, PO Box 3272, Omaha, NE 68103-0272. Ownership Change / ILIT assignment (form LX511): Physicians Life Insurance Company, Life Customer Service, PO Box 3313, Omaha, NE 68103-0313.
Physicians Life Insurance Company - Claims Services
Physicians Life Insurance Company, Claims Services, PO Box 2018, Omaha, NE 68103-2018
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