LIFE INSURANCE AND ANNUITY BENEFITS

LIFE INSURANCE AND ANNUITY BENEFITS

The beneficiary designations you make on a life insurance or annuity policy generally supersede any other instructions you leave, including your will. Instead each life insurance and/or annuity company has a separate Designated Beneficiary Form which must be completed by the insured and on file with the company. The FUMC EVERLIVING CHURCH TRUST can be designated as either the primary beneficiary or the contingent/backup beneficiary (if the primary beneficiary(s) pre-deceases the donor) for either life insurance or annuity policies with a death benefit/payment.

HOW TO DO THIS?   

After discussing with family and advisors, request a Change of Beneficiary Form from the Insurance/Annuity Company. Your insurance agent may be able to assist you in obtaining this form or you can request directly from the company. Complete the form listing FUMC EVERLIVING CHURCH TRUST as a beneficiary. Contact the FUMC Business Manager to request the FUMC tax ID number to use in place of a required social security number, if needed. Follow the form’s instructions concerning having the owner’s signature officially witnessed/notarized. Keep a copy of the updated Beneficiary Form with your policy, mail a copy to the FUMC Business Manager, and mail the original back to the insurance company following their directions. Upon the donor’s death, FUMC will initiate contact with the donor’s family and insurance company to liquidate the policy.