Complete Ownership/Contingent Ownership Designation Form: L-5535
and send it to us by mail, fax, or email.
- When the current contract owner is a business or trust, the form must include the name of the business or trust, and the title of the person signing. The person who signs should not be the person insured or the person who will benefit from the change.
- After we have accepted and recorded the information on your owner designation form, the change will be effective the date the form was signed.
- Changing the ownership of a policy does not change the beneficiary.
- Changing the ownership of a policy does not change the payor.
- There may also be tax consequences to having your life insurance policies or annuities owned by a trust, or by other family members who will be the beneficiaries. You may want to consult your tax advisor prior to requesting a change in ownership.