Review Beneficiaries and Essential Documents

Federal Benefit Advisory

Designating a Beneficiary

When you were hired, you designated your beneficiaries to receive your life insurance benefits and survivor benefits. However, life goes on and as life changes, and people may come and go, new additions, a review of all designated beneficiaries are a must in terms of smart planning, when life changes occur.

  • Marriage
  • Divorce
  • Children born.
  • Someone dies.
  • Inheritance from Aunt Alice
  • Accidents
  • Moving Residence
  • Lawsuits
  • Winning Lottery
  • Marriage/Divorce – Understand your benefits options when your marriage begins or ends.
  • Death of an employee, annuitant or spouse – Notify OPM upon the death of your spouse.
  • Reemployment – Learn how reemployment may affect your benefits.
  • Third Party Payees – If you are unable to handle your finances OPM will require a guardian or Representative Payee be appointed. OPM does NOT recognize the Power of Attorney.
  • Designation of Beneficiaries – You can choose any person to receive any life insurance and/or lump sum benefit payable upon your death by completing a Designation of Beneficiary form.

When the “really bad” happens, and you’ve not updated, then there is no turning back.

A recent case, husband injured very bad head injury. May be in a nursing home for the remainder of his life. “Do you have his Power of Attorney?”  “Yes”, she replied, “here is a copy.”  It was a photocopy, naming the husband’s brother. The POA was executed years before the couple even met and not updated. The brother now lives somewhere back east!  So, she will have to go to court. In the meantime, she is frozen in their personal business.

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