Group Term Life Insurance Beneficiary Designation Form - Metlife

The Group Term Life Insurance Beneficiary Designation Form from MetLife is used to specify who will receive the benefits from a group term life insurance policy in the event of the policyholder's death.

The employer or policyholder typically files the Group Term Life Insurance Beneficiary Designation Form with Metlife.

FAQ

Q: What is a Group Term Life Insurance Beneficiary Designation Form?
A: It is a form used to designate the person or entity who will receive the benefits of the policy upon your death.

Q: Why do I need to fill out a beneficiary designation form?
A: Filling out a beneficiary designation form ensures that the life insurance benefits are paid out to the intended recipient.

Q: Who can be named as a beneficiary?
A: You can name a person or multiple individuals, a trust, an organization, or your estate as the beneficiary.

Q: Can I change my beneficiary at a later time?
A: Yes, you can usually change your beneficiary at any time by submitting a new beneficiary designation form.

Q: Is it necessary to name a beneficiary for my life insurance policy?
A: It is not mandatory, but it is highly recommended to avoid potential complications and ensure that your intended recipient receives the benefits.

Q: Can I have multiple beneficiaries for my life insurance policy?
A: Yes, you can name multiple beneficiaries and specify the percentage of the benefit each will receive.

Q: Is there a deadline for submitting the beneficiary designation form?
A: It is best to submit the form as soon as possible after receiving it, but there is typically no strict deadline.

Q: What happens if I do not designate a beneficiary?
A: If you do not designate a beneficiary, the life insurance benefits may be paid to your estate or subject to the probate process.

Q: Do I need to update my beneficiary designation if I get married or divorced?
A: Yes, it is important to review and update your beneficiary designation if there are any major life events, such as marriage or divorce.