How to name beneficiaries and fund a trust at USAA Life
Beneficiaries are managed online or by mail. Trust paperwork is taken by mail
For USAA Life policyholders, estate planning comes down to one critical step: making sure the right beneficiaries are named on every policy. Insurance proceeds bypass probate entirely and go directly to whoever is listed—regardless of what a will says. When estate tax planning or controlled distributions are a factor, a trust can be named as beneficiary instead.
Each of USAA Life's 7 policies has different rules for how it transfers at death. The sections below explain the options for each.
- Log on to usaa.com or the USAA Mobile App
- Select the life insurance policy or annuity and choose to update beneficiaries
- Download the Beneficiary Designation form (MLL400ST) and check the contract type (Life, Fixed Annuity or Other); one form covers the same designation on up to three contracts
- For each individual beneficiary, give full name, address, phone number, Social Security number, date of birth, relationship to the insured or annuitant, marital status and citizenship
- Show a percentage for each beneficiary when shares are unequal; percentages must total 100%
- For a trust beneficiary, give the trust name, trust date, each trustee’s name, address and Social Security number, the trust’s Tax ID number, and the grantor’s name and Social Security number
- For a trust beneficiary, submit the trust document
- The contract owner signs; a joint owner, an irrevocable beneficiary or collateral assignee, and a spouse also sign where they apply
- Massachusetts residents need a witness who is 18 or older and not a designated beneficiary
- Upload it through usaa.com or the USAA Mobile App: profile icon, Inbox, Send documents to USAA
- Or mail to USAA Life Insurance Company, 9800 Fredericksburg Road, San Antonio, TX 78288
- Or fax to 877-435-7099 within the United States
- Questions: 800-531-8722
Required Documents
- Beneficiary's full name, address and phone number (for each individual beneficiary)
- Beneficiary's Social Security number and date of birth (for each individual beneficiary)
- Beneficiary's relationship to the insured or annuitant, marital status and citizenship (for each individual beneficiary)
- Trust name, trust date and the trust's Tax ID number (for a trust beneficiary)
- Each trustee's name, address and Social Security number (for a trust beneficiary)
- Grantor's name and Social Security number (for a trust beneficiary)
- Trust document (for a trust beneficiary)
- Beneficiary Designation form (MLL400ST), completed and signed (when the change is made by form)
- To name a trust as beneficiary: Beneficiary Designation form (MLL400ST)
- To make a trust the owner: Transfer of Ownership form (MSF408ST)
- When the new owner is a trust or other entity, also complete an Ownership Authorization Form, one for each entity-owned contract, naming the trustees authorized to exercise ownership rights
- Send a copy of the first and last/signature pages of the trust agreement
- The pages show the trust name, trust date, country of registration and Tax ID number, the trustees’ names, addresses, dates of birth and signatures, and the grantor’s name and Social Security number
- An irrevocable beneficiary or collateral assignee on the contract must also sign the transfer
- Upload them through usaa.com or the USAA Mobile App: profile icon, Inbox, Send documents to USAA
- Or mail to USAA Life Insurance Company, 9800 Fredericksburg Road, San Antonio, TX 78288
- Or fax to 877-435-7099 within the United States
Required Documents
- Transfer of Ownership form (MSF408ST) (to make a trust the owner)
- Ownership Authorization Form (when a trust or other entity becomes the owner). One per contract, naming the trustees authorized to exercise ownership rights. Not needed when natural-person trustees signed the application and the trust pages are on file
- Beneficiary Designation form (MLL400ST) (to name a trust as beneficiary)
- Copy of the first and last/signature pages of the trust agreement (when a trust becomes the owner). Generally sufficient when a trust becomes the owner
- Trust document (when an existing trust is named as beneficiary)
- Trust name, trust date and Tax ID number
- Each trustee's name, address and date of birth
- Grantor's name and Social Security number
What USAA Life says about beneficiaries and trusts
Each section is USAA Life's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
Who can be named3
- A trust
A trust can be named as primary or contingent beneficiary. USAA asks for the trust document along with the trust name, date, trustees, Tax ID and grantor.2
- An entity other than a trust or a business
An entity other than a trust can be named as primary or contingent beneficiary.2
- A trust created by a will
A testamentary trust named as beneficiary needs proof of the trustee's qualification in a probate court within one year after death. Otherwise proceeds go to any remaining primary beneficiary, then the contingent beneficiary.2
How many beneficiaries, and how shares are split
- All accounts
Primary and contingent beneficiaries can be named. When shares are unequal, the form shows a percentage for each beneficiary, and the percentages must total 100%.2
What a designation takes to be effective
Beneficiary forms USAA Life issues1
- Beneficiary Designation (form MLL400ST)
Completed by the contract owner. Available to download.2
Return to
Fax: 1-877-435-7099
Mailing address: USAA Life Insurance Company, 9800 Fredericksburg Road, San Antonio, TX 78288
What USAA Life's agreement says about beneficiaries6
- A designation and a will
A will does not control assets with a beneficiary designation, such as a life insurance policy.4
- A beneficiary who dies first
If a primary beneficiary does not survive the insured, that share goes to the remaining primary beneficiaries in equal shares unless the designation or contract says otherwise.4
- Changing or revoking a designation
Changing the beneficiary requires the written consent of an irrevocable beneficiary.2
- What the owner keeps while living
On a life contract, an irrevocable beneficiary must also sign for loans, withdrawals, assignment and other contract changes.2
- A minor as beneficiary
Minors cannot receive payouts directly. Unless a trust or custodial arrangement is named, funds for a minor go to a court-appointed custodian.2
- The institution's right to refuse a designation or an account title
USAA does not accept animals as beneficiaries, or designations that stipulate how funds are used after distribution.2
State requirements USAA Life statesMassachusetts
- Massachusetts
Massachusetts residents need a witness who is 18 or older and not a designated beneficiary.2
Which accounts a trust can hold1
- Annuity
Ownership changes on qualified plans are allowed only to a spouse due to death or as the result of a Qualified Domestic Relations Order.5
Trust account forms USAA Life issues3
- Transfer of Ownership (form MSF408ST)
Available to download.5
Return to
Fax: 1-877-435-7099
Mailing address: USAA Life Insurance Company, 9800 Fredericksburg Road, San Antonio, TX 78288
- Ownership Authorization Form
Available to download.6
Return to
Fax: 1-877-435-7099
Mailing address: USAA Life Insurance Company, 9800 Fredericksburg Road, San Antonio, TX 78288
- Beneficiary Designation (form MLL400ST)
Available to download.2
Return to
Fax: 1-877-435-7099
Mailing address: USAA Life Insurance Company, 9800 Fredericksburg Road, San Antonio, TX 78288
What USAA Life says about trust accounts2
- A trust as owner of a policy
Under a transfer of ownership, the current owner transfers all rights to the new owner, including the right to receive money, change the beneficiary or cancel the contract.5
A testamentary trust cannot be an owner until it exists.5
- Who signs for the trust
Trustees sign every later request for contractual or financial changes and show their capacity as trustee.5
Sources
Data sourced from USAA Life primary sources (18 pages reviewed). How we research.
Download these USAA Life instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against USAA Life primary sources. Bring it to the branch or keep it beside the phone.
USAA Life estate support
USAA main number
Phone
Life insurance specialists
Retirement Income Specialists (annuities)
Mailing address
Website
Estate requests go through general customer service.
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