Estate planning at Unum

With 10 products relevant to estate planning, Unum policyholders need to understand how beneficiary designations control where proceeds go. These designations override a will, so the names on file with Unum are what determine who receives the death benefit.

Unum lets account holders update beneficiary designations online, by mail, and by phone, typically taking 10-15 minutes in an employer benefits system; 15-20 minutes on the paper CS-1277 for ported coverage. Trust funding is also available, allowing families to name a trust as the policy beneficiary or establish an irrevocable life insurance trust (ILIT).