Wyoming Change of Beneficiary
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How to fill out Change Of Beneficiary?
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FAQ
Retirement Eligibility Some plans provide an unreduced retirement benefit when the member's years of service plus age add up to a certain number (ie, 85). In some WRS Pension Plans, members may take a lifetime benefit permanently reduced by 5% per year the member is below the full retirement age.
You can change, update, add or remove a revocable beneficiary at any time. This grants you the freedom to update your designation to match your current needs.
Generally, you will need to fill out a change of beneficiary form which includes information such as the policyholder's name, the new beneficiary's name, and the reason for the change. You may also need to provide a copy of the policyholder's death certificate if the beneficiary is being changed due to their death.
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.
As the policyholder, only you ? or someone who holds durable power of attorney for you ? can change your life insurance beneficiaries. However, if your policy names an irrevocable beneficiary, you will also need to get that beneficiary's consent before making changes.
Irrevocable beneficiaries cannot be removed once designated unless they agree to it?even if they are divorced spouses. Children are often named irrevocable beneficiaries to ensure their inheritance or secure child support payments.