You must name at least one primary beneficiary below. If you name more than one beneficiary, be sure to check the box to select each beneficiary as primary or contingent. A contingent beneficiary is an individual who will receive benefits only if all primary beneficiaries are deceased.
Make sure to fill in a percentage share in whole numbers for each beneficiary. The total percentage for all primary beneficiaries must add up to 100%. If you don’t fill in percentages, the primary beneficiaries will share equally. If any primary beneficiary is deceased at the time of payment, the remaining primary beneficiaries will share equally.
The total percentage share for all contingent beneficiaries must also total 100%. Payment to contingent beneficiaries will follow the same rules as for primary beneficiaries.
Naming a beneficiary doesn’t guarantee that benefits are payable to them upon your death. In the event that there are benefits payable, it allows us to pay it to them instead of to your estate.