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.
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 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:
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.