IATSE Local No. 8 Philadelphia PA (est.1893)
  • Beneficiary Information
    Updated On: Dec 28, 2018

    Important Information About Designation of Beneficiaries

    Beneficiary  Information

    • Primary Beneficiary(ies) means the person(s) you choose to receive your life insurance benefits. Please specify the percentage of the benefit you want paid to each beneficiary; these percentages should total 100%  If any primary beneficiary is disqualified or dies before you, his/her percentage of the benefit will be paid to the remaining primary beneficiary(ies).

    • Contingent Beneficiary(ies) means the person(s) you choose to receive your life insurance benefits only if all primary beneficiaries are disqualified or die before you. Please specify the percentage of the benefit you want paid  to each beneficiary; these percentages should total 100%. If any contingent beneficiary is disqualified or dies before you, his/her percentage of the benefit will be paid to the remaining contingent beneficiary(ies).

    • Minor Beneficiary(ies) - When you designate minors as beneficiaries it is important to understand that insurance benefits may not be released to a minor child. They may, however, be paid to a court appointed guardian of the child’s estate. The regulations governing minor beneficiaries vary by state.

    • Trust - You may designate a valid trust as a  beneficiary.

    Types of Coverage Information

    • Basic Life is life insurance provided by your employer for which they pay the premiums~

    • Supplemental Life is life insurance elected by you for which you pay the premiums.

    • AD&D is Accidental Death & Dismemberment coverage.

    • If you wish to designate different beneficiaries for any of the above coverages, please completes separate form.

    General Information

    • Updates to Your Beneficiary Designation - You can change your beneficiary designation at any time. You may
      wish to review your designation periodically.
    • Consult an Attorney - This information is not intended to be relied on as legal advice~ You may wish to get the
      assistance of an attorney to help ensure your beneficiary designation correctly reflects your intentions.

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  • IATSE Local No. 8

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