This guide will walk you through the process of changing the beneficiary on your MetLife life insurance policy. It's a crucial step to ensure your life insurance proceeds go to the right people, especially after significant life events.
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Have you recently experienced a major life change – perhaps a marriage, divorce, birth of a child, or the passing of a loved one? If so, your current life insurance beneficiary designations might no longer align with your wishes. It's incredibly important to keep these designations up-to-date, as they often supersede what's written in your will. Don't worry, MetLife makes the process relatively straightforward. Let's dive in!
Step 1: Understand Your Policy Type and MetLife Access
Before you do anything, it's essential to know what kind of MetLife policy you have. This will determine the best way to initiate a beneficiary change.
Individual Life Insurance Policy: If you purchased your policy directly from MetLife or through an independent agent, you likely have an individual policy.
Group Life Insurance Policy (Employer-Sponsored): Many people have life insurance through their employer. If this is your situation, your policy is part of a group plan.
Annuity or Retirement Plan with MetLife: While not strictly "life insurance," MetLife also offers annuities and retirement plans where you designate beneficiaries. The process might differ slightly.
Action Point: Locate your policy documents or visit the MetLife website to determine your policy type. If you're unsure, you can always contact MetLife customer service directly (contact information provided later).
Step 2: Gather Necessary Information
To ensure a smooth and accurate beneficiary change, have the following information ready for both yourself (the policy owner/insured) and your new and existing beneficiaries:
Sub-heading: Information for the Policy Owner/Insured
Your Full Name: As it appears on your policy.
Policy Number(s): This is essential for MetLife to identify your specific policy.
Date of Birth: For verification purposes.
Social Security Number (SSN) / Tax ID Number (TIN): Again, for verification and identification.
Current Contact Information: Address, phone number, and email.
Sub-heading: Information for Each Beneficiary (New and Existing)
Full Legal Name: Ensure accuracy to avoid any issues during a claim.
Relationship to Insured: (e.g., Spouse, Child, Sibling, Friend, Trust, Estate, Charity).
Date of Birth: Crucial for individual beneficiaries.
Social Security Number (SSN) / Tax ID Number (TIN): Highly recommended, as it helps MetLife locate beneficiaries quickly during a claim.
Current Contact Information: Address, phone number, and email.
Designation (Primary or Contingent):
Primary Beneficiary: The first person(s) or entity to receive the death benefit. You can have multiple primary beneficiaries and specify percentages.
Contingent (or Secondary) Beneficiary: The person(s) or entity who receives the death benefit if all primary beneficiaries predecease the insured. It's highly recommended to name contingent beneficiaries to avoid the proceeds going to your estate.
Percentage of Proceeds: If you have multiple beneficiaries, you'll need to specify what percentage of the death benefit each will receive. Ensure the total percentage for primary beneficiaries equals 100%, and similarly for contingent beneficiaries. If left blank, MetLife typically divides the proceeds equally among named beneficiaries.
Step 3: Choose Your Method of Change
MetLife generally offers a few ways to change your beneficiaries. The most convenient method often depends on your policy type and personal preference.
Sub-heading: Option A: Online Self-Service (Highly Recommended for Individual Policies)
For individual life insurance policies, MetLife often provides an online portal for managing your account, including beneficiary updates. This is typically the fastest and most efficient way to make changes.
Log In or Register: Visit metlife.com and look for the "Log In" or "Register" section for policyholders.
Navigate to Beneficiary Information: Once logged in, find the section related to your policy details, coverage, or "Beneficiary Information."
Follow Online Prompts: The system will guide you through adding new beneficiaries, modifying existing ones, and designating primary/contingent statuses and percentages.
Review and Confirm: Carefully review all the information you've entered before submitting.
Receive Confirmation: MetLife will typically provide an instant confirmation or send one via email. Keep this for your records.
Sub-heading: Option B: Download and Mail a Form
If online self-service isn't available for your policy type (especially for some group plans) or you prefer a paper process, you can download a beneficiary change form.
Access the MetLife Forms Library: Go to the MetLife website and search for "forms" or "beneficiary change form." You may find different forms for individual policies ("Short Form" for individuals only, "Long Form" for trusts, charities, corporations) and group policies.
Download the Correct Form: Ensure you download the form specifically for beneficiary changes on life insurance.
Print and Fill Out Neatly: Use black ink and write legibly. Fill in all required fields completely.
Tip: If you need to add more beneficiaries than the form allows, attach a separate, signed, and dated sheet of paper with the additional beneficiary details, clearly identifying them as primary or contingent.
Sign and Date the Form: This is critical. The policy owner must sign and date the form. If there are multiple policy owners, all must sign.
Important Note: In some states (e.g., Massachusetts), a witness signature might be required. The witness cannot be a beneficiary you are adding to the policy.
Spousal Consent: For some policies, especially those under ERISA or certain state laws, spousal consent may be required to name someone other than your spouse as a primary beneficiary. If this applies, your spouse will also need to sign the form.
Mail the Completed Form: The form will typically include instructions on where to send it. Make a copy for your personal records before mailing.
Sub-heading: Option C: Contact MetLife Directly (Phone or Email)
If you're unsure which form to use, can't find it online, or need assistance, reaching out to MetLife directly is always an option.
Call Customer Service: MetLife has dedicated customer service lines. For individual policies, you can call their general inquiries number. For group policies, you might have a specific number provided by your employer or benefits administrator.
Be prepared to provide your policy number and verify your identity.
Request a Form or Guidance: Explain that you want to change your beneficiaries. They can often mail you the correct form or guide you through the online process.
Email Inquiries: Some MetLife regional sites offer email addresses for customer service queries. For instance,
INDLifeRequest@metlife.comis sometimes listed for requesting beneficiary change forms for individual life policies.
Step 4: Review and Confirmation
After submitting your beneficiary change request, MetLife will process it.
Processing Time: MetLife typically processes beneficiary changes within 5 business days of receiving a completed form in "good order."
Confirmation: You will usually receive a written confirmation (by mail or email) once the change has been processed. Carefully review this confirmation for accuracy. If anything is incorrect, contact MetLife immediately.
Keep Records: Always keep a copy of the completed form and the confirmation for your records. This is vital documentation.
Important Considerations and Tips:
Review Regularly: It's a good practice to review your beneficiary designations at least once a year, or after any significant life event (marriage, divorce, birth, death, new job, etc.).
Specific Designations: Be as specific as possible when naming beneficiaries. For example, instead of "My Children," list each child by name.
Minor Beneficiaries: If you name a minor child as a beneficiary, MetLife cannot pay the proceeds directly to them. The funds will typically be held in an interest-bearing account until the child reaches the age of majority (usually 18 or 21, depending on state law) or until a legal guardian for the minor's property is appointed by a court. Consider setting up a trust or naming a guardian to manage the funds on their behalf.
Naming a Trust: If you want to name a trust as your beneficiary, you'll generally need the "Long Form" and will need to provide the full legal name of the trust, the date it was established, and the trustee's information. It's highly advisable to consult with an estate planning attorney if you're considering this.
Naming Your Estate: While possible, naming your "Estate" as the beneficiary should generally be avoided unless specifically advised by an attorney. This can lead to probate, which is a lengthy and public legal process, and may result in the death benefit being subject to estate taxes and creditors.
Irrevocable Beneficiaries: Some policies may have "irrevocable beneficiaries" (meaning you cannot change them without their written consent). If your policy has an irrevocable beneficiary, their signature will be required for any changes.
Power of Attorney (POA): If someone is signing on behalf of the policy owner (e.g., under a Power of Attorney or as a legal guardian), they will need to submit documentation/authorization proving their right to sign on the owner's behalf.
Group Policy Specifics: For group policies through an employer, sometimes the beneficiary change process is managed through the employer's HR or benefits portal, or through a specific MetLife representative assigned to your employer's plan.
10 Related FAQ Questions
How to find my MetLife policy number?
Your MetLife policy number can typically be found on your policy documents, annual statements, or any correspondence from MetLife. If you can't find it, contact MetLife customer service directly, and they can help you locate it by verifying your personal information.
How to know if my MetLife policy requires spousal consent for beneficiary changes?
Spousal consent requirements often depend on the type of policy (group vs. individual) and the state you reside in, particularly if you live in a community property state or if the policy is an ERISA-governed group plan. The beneficiary change form itself will usually indicate if spousal consent is needed. When in doubt, contact MetLife customer service or consult with a legal advisor.
How to name a trust as a beneficiary on my MetLife policy?
To name a trust, you will typically need to use MetLife's "Long Form" beneficiary designation form. You'll need the full legal name of the trust, the date it was established, and the names of the trustees. It's strongly recommended to consult with an estate planning attorney when naming a trust to ensure it's done correctly and aligns with your overall estate plan.
How to designate both primary and contingent beneficiaries with MetLife?
On the beneficiary change form, there will be separate sections to list primary beneficiaries and contingent (or secondary) beneficiaries. Primary beneficiaries are the first in line to receive the proceeds. Contingent beneficiaries receive the proceeds only if all primary beneficiaries predecease the insured. Fill in both sections as desired, ensuring percentages add up to 100% within each category.
How to update my address or contact information with MetLife?
You can usually update your address and other contact details through the MetLife online self-service portal, by calling their customer service, or by mailing a "Change of Address" form, which is typically available in their forms library.
How to check the status of a beneficiary change request with MetLife?
After submitting your request, MetLife typically sends a confirmation within 5 business days. If you haven't received it or want to check the status, you can log into your online account (if applicable) or call MetLife customer service and provide your policy details.
How to obtain a beneficiary change form from MetLife?
You can download the form from the MetLife website's "Forms" or "Self-Service" section. Alternatively, you can email INDLifeRequest@metlife.com (for individual policies) or call MetLife customer service, and they can mail the form to you.
How to ensure my beneficiary designation is legally binding?
To ensure your designation is legally binding, always use the official MetLife beneficiary change form, fill it out completely and accurately, sign and date it as required, and submit it to MetLife. Follow any specific instructions, such as witness signatures or spousal consent. MetLife's confirmation of the change is your proof that it's in effect.
How to name multiple beneficiaries and specify percentages with MetLife?
On the beneficiary designation form, you will list each beneficiary and have a field to specify the percentage of the proceeds they should receive. Make sure that the percentages for all primary beneficiaries add up to 100%, and similarly for all contingent beneficiaries. If you want equal distribution, you might be able to leave the percentage field blank, and MetLife will divide it equally (this varies by form, so check instructions).
How to handle minor children as beneficiaries for a MetLife policy?
If you name a minor child as a direct beneficiary, MetLife will not release the funds directly to them. The funds will typically be held in an interest-bearing account until the child reaches the age of majority, or until a court-appointed guardian for the minor's property is in place. To avoid potential legal complexities, consider naming a custodian under the Uniform Transfers to Minors Act (UTMA) or establishing a trust for the minor and naming the trust as the beneficiary. Consult with an attorney for personalized advice.