December 14, 2020

Human Resources suggests employees make beneficiary review an annual to-do list item

Making sure affairs are in order and checking in from time to time is key when it comes to protecting loved ones. Ensuring that beneficiary information is updated is one way to help when it matters most.

Several Purdue benefits provide for beneficiaries in the event of death, so updated information is very important.

Designating beneficiaries ensures that funds are appropriately distributed and not defaulted to the estate. Once beneficiaries are designated, it is recommended to review those designations each year to ensure that no changes are needed or to make changes if they are needed.

Benefit programs that require a beneficiary designation are:

  • Health savings account (HSA).
  • Life insurance (i.e., accidental death and dismemberment, term life).
  • Universal life.
  • Retirement (e.g., through PERF, Fidelity).

To review and update beneficiaries for AD&D, term life and universal life insurance in Benefitfocus, employees may follow these instructions at any time throughout the year.

For all other plans, visit the Beneficiary Management webpage for instructions.

For assistance with updating beneficiary records, contact Human Resources at hr@purdue.edu or at 765-494-2222.


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