What to do when a Security Benefit account holder dies
Contact Security Benefit — 5-step process, 7 required documents, and death claims are typically processed within 14 to 60 days after all required documentation is received. delays may occur if documentation is incomplete, the contract is within the contestability period, or if additional review is required.
Security Benefit, One SW Security Benefit Place, Topeka, KS 66636-0001
Security Benefit, One SW Security Benefit Place, Topeka, KS 66636-0001
Death Claims
Security Benefit, P.O. Box 750497, Topeka, KS 66675-0497
A death claim on a Security Benefit policy is filed through the Death Claims (785-438-3000). Because insurance proceeds pass directly to named beneficiaries, this process is separate from probate. The required documentation and timeline vary by policy type.
The first step is contacting Security Benefit at 785-438-3000 with the account holder's full name, account numbers, and a certified death certificate in hand.
Death claim process
To file a claim after an account holder's death, here is what Security Benefit requires:
Filing a claim
- Locate the Security Benefit contract or policy documents and note the contract or policy number
- Obtain certified copies of the death certificate
- Call Security Benefit Service Center at 800-888-2461
- Or contact your financial professional for assistance
- Each beneficiary completes and signs a separate Proof of Death form
- Submit the certified death certificate along with the completed form
- Include government-issued ID for the beneficiary or trustee
- If a trust is the beneficiary, include trust documents and trustee identification
- Select payout method (lump sum, annuitization, or other available options)
Required Documents
- Completed Proof of Death form (separate form for each beneficiary)
- Certified death certificate
- Government-issued ID for the beneficiary or trustee
- Contract or policy number and deceased's information
- Trust documents and trustee ID (if a trust is the beneficiary)
- IRS Form W-9 for the beneficiary
- Any additional documentation requested by Security Benefit
What to know at this institution
Contact the Security Benefit Service Center at 800-888-2461 or the local number 785-438-3000 to initiate a death claim. The Proof of Death form is used to claim proceeds payable upon death, and a separate form must be completed and signed by each beneficiary. Separate Proof of Death forms exist for Annuity Contracts and Custodial Accounts. Forms are available at securitybenefit.com/service-forms/individuals. Annuity fax: 785-368-1772. Overnight delivery address: Security Benefit, Mail Zone 497, One SW Security Benefit Place, Topeka, KS 66636-0001. For annuity death claims, the beneficiary may have options including a lump sum payout, annuitization, or in some cases a stretch distribution over the beneficiary's life expectancy (for contracts that qualify). Tax treatment of death benefit proceeds depends on whether the annuity is qualified or non-qualified and the payout option selected.
Prepare your letter of instruction to Security Benefit
Security Benefit provides its own letter-of-instruction form. Answer a few questions and we complete that official form for you to print and sign.
Build your letter of instructionProcessing timelines at Security Benefit: Death claims are typically processed within 14 to 60 days after all required documentation is received. Delays may occur if documentation is incomplete, the contract is within the contestability period, or if additional review is required. Incomplete documentation is the most common cause of delays—submitting all required documents with the initial claim helps avoid additional processing time.
Documentation required by Security Benefit includes Completed Proof of Death form (separate form for each beneficiary), Certified death certificate, and Government-issued ID for the beneficiary or trustee, along with additional paperwork that varies by account type. All death certificates and court documents must be certified copies.
Frequently asked questions
Yes. An ILIT can own a Security Benefit life insurance policy, removing the death benefit from the grantor's taxable estate. The trust can own the policy from inception, or an existing policy can be transferred to the trust through an assignment, subject to a three-year lookback rule under IRC Section 2035. Once transferred, the grantor permanently relinquishes control of the policy. Security Benefit does not establish ILITs; you must work with an estate attorney to set one up.
Payout options for annuity death benefits may include a lump sum payment, annuitization (converting the death benefit into a stream of income payments), or in some cases a stretch distribution over the beneficiary's life expectancy for qualifying contracts. The available options depend on the specific annuity product and whether it is a qualified or non-qualified contract. Tax treatment varies by payout option. Contact Security Benefit at 800-888-2461 to discuss the options available for your specific contract.
Security Benefit is owned by Eldridge Industries, a private investment firm. Todd Boehly, through Eldridge, acquired ownership and control of Security Benefit and all of its subsidiaries on January 31, 2017. Security Benefit was originally founded in 1892 as the Knights and Ladies of Security fraternal association in Topeka, Kansas, and became a mutual legal reserve life insurance company on January 1, 1950.
Security Benefit's Death Claims can be reached by phone at 1-800-888-2461 and fax at 785-368-1772 for questions throughout the claims process.
Multiple Security Benefit policies may mean multiple claims. Some account types can be processed together, but others require their own documentation. Check with the Death Claims to confirm what applies.
Sources
Data sourced from Security Benefit primary sources (22 pages reviewed). How we research.
Security Benefit, One SW Security Benefit Place, Topeka, KS 66636-0001
Security Benefit, One SW Security Benefit Place, Topeka, KS 66636-0001
Death Claims
Security Benefit, P.O. Box 750497, Topeka, KS 66675-0497
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