What to do when a Security Benefit account holder dies
Report the death to Security Benefit's National Service Center at 1-800-888-2461
A death claim on a Security Benefit policy is filed through the National Service Center (1-800-888-2461). Because insurance proceeds pass directly to named beneficiaries, this process is separate from probate. The required documentation and timeline vary by policy type.
Death claim process
To file a claim after an account holder's death, here is what Security Benefit requires:
Filing a claim
- Proof of Death for Annuity Contract covers fixed, fixed index, and variable annuity contracts
- Mutual fund and workplace retirement plan custodial accounts use the separate Proof of Death for Custodial Account form
- Both are available on the service forms page
- Contract number, deceased owner's name, SSN or Tax ID, and date of death
- Beneficiary type (spouse, non-spouse, or restricted) and beneficiary information
- Payout election: lump sum, spousal continuation, Inherited IRA, or non-qualified stretch
- An estate beneficiary's form is completed by the executor or administrator; a trust beneficiary's form by the trustee
- One original certified copy of the owner's death certificate; a photocopy is not sufficient, and one copy covers all beneficiaries
- Estate as beneficiary: one certified copy of the executor or administrator appointment (e.g., Letters Testamentary)
- Trust as beneficiary: a full copy of the trust document
- Mail: Security Benefit, P.O. Box 750497, Topeka, KS 66675-0497
- Overnight: Security Benefit, Mail Zone 497, One Security Benefit Place, Topeka, KS 66636-0001
- Fax: 785.368.1772
Required Documents
- Proof of Death for Annuity Contract formCompleted and signed by each beneficiary.
- One original certified copy of the owner's death certificateA photocopy is not sufficient. One copy covers all beneficiaries. Security Benefit reserves the right not to return a death certificate.
- One certified copy of the executor or administrator appointment, where the estate is the beneficiaryFor example, Letters Testamentary.
- A full copy of the trust document, where a trust is the beneficiary
- A certified copy of the court order and of the letters of appointment, from a guardian, conservator, or custodian of a beneficiary's estate
- A certified copy of the Consular Report of Death of a U.S. Citizen Abroad, where the owner died abroadPlus an English translation of the death certificate if applicable.
- A statement explaining the discrepancy and proof of the name change, where a name differs from the contractProof of the name change is, for example, a marriage license or a court order.
- A certified copy of that beneficiary's death certificate, where a beneficiary has died
Forms Security Benefit issues2
- Annuity Contract Proof of Death
Completed by each beneficiary; the executor or administrator for an estate, the trustee for a trust. Available to download.1, 2
- Proof of Death for Custodial Account
Available to download.3
What happens to each kind of account1
- Annuity
Claims are processed as of the valuation date Security Benefit receives all completed required paperwork. The non-qualified stretch is available only to natural person beneficiaries.1, 2
An Inherited IRA is available only if selected and payments begin within one year of the owner's death. Security Benefit will not establish an Inherited IRA for the benefit of a trust or entity.1, 2
What Security Benefit's agreement and guidance say1
- How proceeds are paid
Lump sum is the only payout option for deaths before 1/1/2020, when the death benefit due to a beneficiary is less than $2,000, or when the beneficiary is the estate.1, 2
Payment can be made by electronic funds transfer, check, or wire transfer. A wire transfer carries a $20.00 processing fee.1, 2
Security Benefit's National Service Center can be reached by phone at 1-800-888-2461 and fax at 1-785-368-1772 for questions throughout the claims process.
Sources
Data sourced from Security Benefit primary sources (31 pages reviewed). How we research.
Security Benefit death claims support
National Service Center
Phone
Fax
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Mailing address
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