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| *Ostroff, Fair and Company>>>Insurance |
How to Update Beneficiaries on an Insurance Policy? |
How to Update Beneficiaries on an Insurance Policy? Changing of beneficiaries depends on the type and purpose of the policy you have taken. If you have taken a policy on your own life u will be the sole benefeciary on ur survival if u have not assigned the policy in absolute to any body. U can nominate a person to receive the policy monies in case of unfortunate event and u can change those nomination at any time any number of times during the policy period. u can also nominate more than one person as nominees. But if a policy is taken for the benefit of other person like your child u cann't change that beneficiary. contact the insurance agent and request to change beneficiaries You can ask the agent or contact the company direct and ask for a change of beneficiary form. It is easy. Normally their are nominee in a life insurance policy and for making changes in it, you will have to give a written request to the insuring company's office along with the policy bond and your request for change in nomination will be recorded with them and also mentioned on the bond. Thanks |
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