Get Group Benefits Manulife Financial Beneficiary Designation

A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit. You can name: One person. Two or more people.

Most common beneficiaries are immediate family members, descendants, heirs, employers, established business partners and charities of the insured.

Key Takeaways. A primary beneficiary is a person or entity named to receive the benefit of a will, trust, insurance policy, or investment account. More than one primary beneficiary can be named, with the grantor able to direct particular percentages to each.

Your primary beneficiary is first in line to receive your death benefit. If the primary beneficiary dies before you, a secondary or contingent beneficiary is the next in line. Some people also designate a final beneficiary in the event the primary and secondary beneficiaries die before they do.

Primary and contingent beneficiaries There are two types of beneficiaries: primary and contingent. A primary beneficiary is the person (or persons) first in line to receive the death benefit from your life insurance policy — typically your spouse, children or other family members.

A primary beneficiary is the person (or people or organizations) you name to receive your stuff when you die. A contingent beneficiary is second in line to receive your assets in case the primary beneficiary passes away. And a residuary beneficiary gets any property that isn't specifically left to another beneficiary.

Beneficiary: the person, people or entity who will receive any death benefit from the basic or optional coverage you have selected through your group benefits plan that becomes payable upon your death. Basic and optional beneficiaries may differ.

Sign in to your plan on the website. Click on the Group Benefits tile, then click “Go” under the plan you want to access. Under “Forms,” click “Administration Forms – Find a form – Change of Beneficiary” Complete the form and submit it as per the instructions on the form.