Get Mutual of Omaha Application for Change of Beneficiary

You can add or change a lump-sum beneficiary at any time. It's important to keep your beneficiary designation up to date.

Change a beneficiary Generally, you can review and update your beneficiary designations by contacting the company or organization that provides your insurance or retirement plan. You can sometimes do this online. Otherwise, you'll have to complete, sign, and mail a paper form.

Reversionary - Reversionary gives the right to modify the beneficiary clause, and all other rights revert back to the policyowner if the beneficiary predeceases the policyowner.

To update your life insurance beneficiary, you need to fill out a Change of Beneficiary form through your life insurance provider. You can often find these forms on your provider's website. You can also call your life insurance provider and talk to an agent/producer about updating your beneficiary.

Write only one beneficiary on each line. Make sure that you write the full names of all beneficiaries. For example, if you name you children as beneficiaries, DO NOT merely write “children” on one of the lines; instead write the full names of each of your children on separate lines.

It's important to select the individuals who will receive your retirement account and life insurance benefits in the event of your death. This person is called your beneficiary. You can have more than one beneficiary. You can change your beneficiaries at any time.

The policy owner is the only person who can change the beneficiary designation in most cases. If you have an irrevocable beneficiary or live in a community property state you need approval to make policy changes. A power of attorney can give someone else the ability to change your beneficiaries.

If at any time there is a major change in your life, such as marriage, birth of a child, widowhood or a divorce, you should review your beneficiary designation and make any necessary changes.