How to name beneficiaries and fund a trust at Transamerica

Estate planning with Transamerica policies centers on beneficiary designations—the single most important step for ensuring life insurance proceeds and annuity benefits reach the intended recipients without probate involvement. Unlike bank or brokerage accounts, insurance products are not retitled into trusts; instead, trusts are named as beneficiaries when estate tax planning or controlled distributions are needed.

Transamerica has 11 product types, and the estate transfer rules differ across them. Some support beneficiary designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.