How to name beneficiaries and fund a trust at United of Omaha

A beneficiary change can be made online in Customer Access for eligible policies, by phone on most policies, or on the Life & Annuity Beneficiary Change Form (639600).^{1, 2}

An annuity beneficiary is named on the Life & Annuity Beneficiary Change Form (639600).²

An individual can be named as beneficiary.²

A trust can be named as beneficiary. It must be named on the Beneficiary Change Form, not online or by phone.²

A testamentary trust can be named as beneficiary on the Beneficiary Change Form.²

The estate can be named as beneficiary on the Beneficiary Change Form.²

A charity can be named as beneficiary. It must be named on the Beneficiary Change Form, not online or by phone.²

A business can be named as beneficiary. It must be named on the Beneficiary Change Form, not online or by phone.²

Percentages left blank mean equal shares. Otherwise the primary percentages and the contingent percentages must each total exactly 100%.²

The policyowner or an authorized representative signs. A joint policyowner and any current irrevocable beneficiary must also sign.²

In a community property state, the policyowner is responsible for obtaining any spousal consent required by law.²

Completed by the policyowner or an authorized representative. Available to download.²

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Available to download.³

A beneficiary change is official once the form is processed, and a confirmation is mailed.²

A change made online in Customer Access is available to view and print right after it is submitted.¹

The form replaces all earlier beneficiary choices for the policies it lists.²

Naming an irrevocable beneficiary requires the Beneficiary Change Form, not an online or phone change.²

On a change of ownership, the owner's spouse signs as party-in-interest in a community property state (AZ, CA, ID, LA, NM, NV, PR, TX, WA, WI). Any irrevocable beneficiary signs to consent.⁵

For Massachusetts residents, the policyowner's signature must be witnessed by someone over 18 who is not a beneficiary and has no interest in the policy.²

A trust can become the owner of a life policy through the Change of Ownership Form (L6501), section 3, "New Owner - Trust".⁵

When a trust will own a new United of Omaha life insurance policy, the trustee(s) complete the Trust Certification form (AFN33502).⁶

When a trust will own a new United of Omaha annuity policy, the trustee(s) complete the Trust Certification form (AFN33502).⁶

For life insurance policys. Completed by the current owner. Available to download.⁵

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Completed by the trustee(s). Available to download.⁶

United of Omaha states a change of ownership is unconditional and irrevocable, and is not binding until received and recorded at the home office.⁵

After a change of ownership the death benefit stays payable to the beneficiaries of record. To also make the trust the beneficiary, the new owner submits a separate beneficiary change.⁵