How to name beneficiaries and fund a trust at Symetra

Beneficiary changes on employer group life insurance go through the employer's human resources department.¹

When a trust or an entity owns a deferred annuity, a primary beneficiary is required.²

An established trust can be named as beneficiary of a life policy, with a completed Trustee Certification Form.³

Beneficiaries are not named as a group, such as "All Children of Owner".⁴

A trust can be named as beneficiary of an annuity. At claim time the trust completes the Trustee Certification and Disclosure form.^{5, 6}

Shares are set as percentages, totaling 100% for primary and 100% for contingent beneficiaries. Dollar amounts are not accepted.⁷

If no percentage is entered, the designation is treated as equal.⁷

Only the policy owner can change the beneficiary.⁴

The owner signs the form, and a joint owner and any irrevocable beneficiary also sign. An irrevocable beneficiary's signature is notarized.⁷

A notarized signature is required when the owner's signature does not match the one on file.⁷

In a community property state, the owner's spouse also signs the beneficiary change.⁷

When a trust owns the policy, a Symetra Trustee Certification identifying the authorized signers must be on file.⁷

In a community property state, the owner's spouse signs a deferred annuity beneficiary change whether or not the spouse is a joint owner of the contract.²

For life insurance policys. Completed by the policy owner. Available to download.⁷

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For annuitys. Available to download.²

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For annuitys. Available to download.⁸

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A request received in good order revokes all prior beneficiary designations.⁷

A life insurance ownership change does not change the policy's beneficiary designation.⁴

On the life insurance form, a Massachusetts owner's signature must be witnessed by a disinterested person over 18 who is not being named as a beneficiary. The witness need not be a notary.⁷

The life insurance form lists Alaska among the community property states where the owner's spouse also signs; the deferred annuity form does not.^{7, 2}

For life insurance policys. Available to download. Must be notarized.⁹

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For life insurance policys. Available to download. Must be notarized.¹⁰

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For life insurance policys. Completed by the trustee(s) and the grantor or settlor. Available to download.¹¹

For annuitys. Available to download.¹²

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For annuitys. Available to download.⁶

For annuitys. Available to download.¹³

When a trust already owns the life policy, the current trustee(s) sign the ownership change as the current owner, and the signature is notarized.⁹

Symetra may request a copy of the full trust at any time.¹¹

The notary section of the Trustee Certification (LU-0980) and of the Trustee Certification and Disclosure (RSNB-0024) applies only in Michigan.^{11, 6}