The Beneficiary Designation system allows you to designate and update your beneficiaries for life insurance and AD&D coverage year round. Read Beneficiary Designation System FAQs to see answers to frequently asked beneficiary questions.
You can access this system several ways:
1. iBenefits Home page by clicking the “Your Beneficiaries” link.
During a benefit change event (new employee or annual enrollment), use the “My Beneficiaries” tab.
2. Edit screen of any benefit that needs a designation by clicking the “Save/Beneficiaries” button (this option is only available if you have an active iBenefits document).
3. System Benefits Administration web site Under Insurance forms, click the “Beneficiary Designation Database” link.
4. My Benefits tab in HRConnect by clicking on the “View beneficiaries in iBenefits” button.
Once in the Beneficiary Designation System, you will see an Overview tab, a tab for each benefit which needs a beneficiary designation, and a tab named “Designation Documents”.
Overview: You will see a summary of your current designations or a status message about each benefit designation. The statuses (Active, Inactive, etc.) refer to the potential accuracy of your data in the system as compared to any paper records on file. Your paper designations can be viewed by clicking on the Designation Documents tab. If you have submitted a paper designation after making an entry in this system, or you have not made any entries in this system, your status will show Inactive. To change this, simply update or enter your designations here.
Designation Documents: Contains a list of all the beneficiary designation documents you have completed in the past. The most current document for each benefit type is the official record of your beneficiary designation.
Benefit tabs: Contains a list of all of your designations for that benefit type and their Primary or Secondary designation, and payout distributions.
What is the difference between the primary and secondary designations? In the event of the policy holder’s death, the Primary designation(s) will receive the benefit payout. In the event the Primary designation(s) is(are) deceased, the payout will be given to the Secondary designation(s). If you list multiple people in each beneficiary type, the distribution must equal 100% within that beneficiary type.
To add a new beneficiary or if this is your first time to use this system, take the following actions to identify a beneficiary and associate them with the appropriate benefit(s).
- Click the “Add Beneficiary” button under the benefit tab in which you wish to add them
- Indicate who/what your beneficiary is: An individual, per Will or Testament, or a Charity or Other Organization.
- Fill out the information for your beneficiary
- Based on your indication of who/what your beneficiary is, different information is required.
- If you have already entered the beneficiary under a different benefit type, choose their name under the “Choose an Existing Beneficiary” list.
- Designate if this beneficiary is to be a Primary or Secondary designation and click Save
- If you have designated more than 1 designee under the primary or secondary, you will be taken to the designation screen. The distributions must add up to exactly 100%. For example: 50/50, 60/40, 33.33/33.33/33.34, etc.
You can change the distribution of payout between your designations at any time by clicking the “Update Distribution” button. Note: This button only appears when there is more than one designation on a benefit.
You can also switch an existing designation between Primary and Secondary as well as update their information through the “Edit” button.