New York Life Insurance Company is one of the largest mutual life insurance companies in the United States, providing life insurance and other financial services to millions of policyholders. When you purchase a life insurance policy from New York Life, you typically name one or more beneficiaries to receive the death benefit in the event of your passing. However, your beneficiary needs may change over time due to life events such as divorce, remarriage, or the birth of children. In such cases, it's essential to update your beneficiary form to ensure that the correct individuals receive the death benefit.
Here are three ways to update your New York Life beneficiary form:
Method 1: Online Update through the New York Life Website
New York Life policyholders can update their beneficiary information online through the company's website. To do this, follow these steps:
- Go to the New York Life website and log in to your account.
- Click on the "Policy Details" tab and select the policy for which you want to update the beneficiary.
- Click on the "Beneficiary" tab and select "Update Beneficiary."
- Enter the new beneficiary's information, including their name, date of birth, and relationship to you.
- Review and confirm the changes.
- Print or save a copy of the updated beneficiary form for your records.
Requirements for Online Update
To update your beneficiary information online, you will need to have a New York Life online account and access to a printer or email to print or save the updated form. You will also need to have the following information readily available:
- Policy number
- New beneficiary's name and date of birth
- New beneficiary's relationship to you
Method 2: Phone Update with a New York Life Representative
If you prefer to update your beneficiary information over the phone, you can call New York Life's customer service department and speak with a representative. To do this, follow these steps:
- Call New York Life's customer service department at 1-800-NEW-YORK (1-800-639-9675).
- Let the representative know that you want to update your beneficiary information.
- Provide the representative with the new beneficiary's information, including their name, date of birth, and relationship to you.
- Review and confirm the changes with the representative.
- Ask the representative to mail or email you a copy of the updated beneficiary form for your records.
Requirements for Phone Update
To update your beneficiary information over the phone, you will need to have the following information readily available:
- Policy number
- New beneficiary's name and date of birth
- New beneficiary's relationship to you
Method 3: Mail or Fax Update with a Paper Form
If you prefer to update your beneficiary information by mail or fax, you can complete a paper beneficiary form and submit it to New York Life. To do this, follow these steps:
- Download and print the New York Life beneficiary form from the company's website.
- Complete the form by providing the new beneficiary's information, including their name, date of birth, and relationship to you.
- Sign and date the form.
- Mail or fax the completed form to New York Life at the address or fax number listed on the form.
Requirements for Mail or Fax Update
To update your beneficiary information by mail or fax, you will need to have the following information readily available:
- Policy number
- New beneficiary's name and date of birth
- New beneficiary's relationship to you
In conclusion, updating your New York Life beneficiary form is a relatively straightforward process that can be completed online, by phone, or by mail or fax. By following the steps outlined above, you can ensure that your beneficiary information is up to date and that the correct individuals receive the death benefit in the event of your passing.