Designating a beneficiary
Naming a beneficiary is an important right of life insurance ownership. Your beneficiary designation determines who will receive your life insurance benefit if you were to die. Under current tax law, life insurance benefits paid to a beneficiary are generally not taxable income.
Manage your beneficiary(ies) online
Over time, events such as marriage, divorce, birth/ adoption of children, or the death of a loved one may dramatically change the intent of how you want your life insurance benefit paid. Even if you do not purchase any optional life or AD&D insurance, you should take a moment to designate a beneficiary for your basic group term Life benefit. To designate a beneficiary, log into www.LifeBenefits.com using the following information:
- User ID: enter the following letters: SOM followed by your 8 digit employee ID number
- Password: The first time you log on, enter your 8 digit date of birth (mmddyyyy), followed by the last four digits of your Social Security number. You will be required to change this password after your initial log on.
Example: If your date of birth was August 2, 1960 and the last four digits of your Social Security number were 1234, you would enter 080219601234 as your password.
If you need technical assistance, please contact our technical assistance team at 1-866-293-6047. If you have other questions about your plan please contact us.
What if I don't name a beneficiary?
If you do not make a beneficiary designation, or if there is no named beneficiary alive at the time of your death, benefits will be paid in the following order of priority for employee coverage:
- your spouse, if living; otherwise
- your natural and legally adopted children, if living; otherwise
- your parents, if living; otherwise
- your estate.
The employee is automatically the beneficiary for any spouse or child life coverage. No other designations can be made for these coverages.
You can also designate a beneficiary via a paper form, return completed and signed form to Securian.