Keeping your beneficiary designations current is one of the most important aspects of maintaining your financial plan. Life events such as marriage, divorce, births, deaths, or changing relationships may necessitate updates to ensure your benefits go to the right people. Here's how to update your beneficiary information:

Simple Beneficiary Update Process:

1. Contact Your Advisor
   • Call: (330) 406-5566
   • Email: service@crockerfinancial.online
   • Client Portal: Submit a beneficiary change request
   • Schedule an appointment for complex changes
2. Complete Required Forms
   • Beneficiary Change Request form (we'll provide this)
   • Signature requirements vary by carrier
   • Electronic signature options available with most carriers
   • Witness or notary requirements for some policies
3. Provide Necessary Information
   • Full legal names of new beneficiaries
   • Social Security numbers (recommended but not always required)
   • Dates of birth
   • Relationship to you
   • Contact information
   • Benefit percentage allocation
4. Verification and Confirmation
   • We submit the completed forms to the carrier
   • Carrier processes the change (typically 5-10 business days)
   • Written confirmation sent to you
   • We verify the changes are correctly recorded

Types of Beneficiary Designations:

• Primary Beneficiaries
  • First in line to receive benefits
  • Can be one person or multiple people with specified percentages
  • Can include organizations or trusts
• Contingent (Secondary) Beneficiaries
  • Receive benefits if primary beneficiaries predecease you
  • Important backup protection
  • Can also be individuals, organizations, or trusts
• Tertiary Beneficiaries
  • Third level of beneficiaries
  • Available on some policies for additional planning flexibility

Special Considerations:

• Minor Children: Consider a trust or UTMA/UGMA arrangement rather than direct designation
• Divorce Situations: Review all policies immediately following divorce proceedings
• Blended Families: May require more complex beneficiary structures
• Business Policies: May require coordination with business agreements
• Estate Planning Coordination: Ensure beneficiary designations align with will and trust provisions

We recommend reviewing your beneficiary designations annually or whenever you experience a significant life event. As part of our service commitment, we include beneficiary reviews in our regular policy check-ups. There is typically no fee to change your beneficiaries, and the process is usually straightforward. We're here to help ensure your coverage benefits the people or organizations that matter most to you.