Page 7 - Retiree News Winter 2018

Make Sure Your CSEA Term Life Plan Beneficiary Choices Are Up to Date!
Many people update their wills or other estate plans, but don't remember to update who will receive distributions from their insurance plans upon their deaths. Every year you should review your entire estate plan, and the review should include your CSEA Group Sponsored Term Life Insurance "beneficiary designations" to make sure they aren't outdated.
 Do not assume that your benefits will be distributed according to your will. If you don't name a beneficiary, the distribution of benefits will go through the hierarchy of spouse, children, parents, estate.
 Also, if your spouse was your beneficiary and you get divorced, your former spouse will still be the beneficiary -- divorce does not automatically remove an ex-spouse as beneficiary. If you wish to remove a former spouse from the plan, you will have to fill out a new beneficiary designation form.
 The only way to control where the money goes is to name a beneficiary.
Even if you don't have big changes, you should review your beneficiary designation periodically. Your beneficiary may not be who you remembered it to be or it may be outdated.
Change of Beneficiary form can be downloaded from http://cseainsurance.com under Products & Forms/Term Life.
Learn more and sign up at
groceryreward.club/csea
Stay up-to-date on buying discounts at facebook.com/cseabenefits
For more information on available discounts, visit the cseany.org/mb
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