Is Your Life Insurance Beneficiary Up-to-Date?

Life insurance works to provide financial financial security to your loved ones after you pass away.  It can also help cover the cost of funeral expenses and debt that may be left behind. 

beneficiary

What is a designated beneficiary?

  • A beneficiary is someone who is entitled to receive proceeds from your life insurance after death.  

Why is a designated beneficiary important?

  • Designating a beneficiary allows you to select who receives your life insurance.  If you don't name a beneficiary, the person who receives the proceeds from your accounts could be decided in court upon your death.  

Things to consider whether you need to update your beneficiary:

  • Have you experienced a recent life change?
  • If you are divorced, is your ex-spouse still listed as your beneficiary?
  • Have you recently married or remarried?
  • Would you like your children to be beneficiaries?  Have you checked to make sure that all of them are listed?
  • Also, be sure to check your beneficiary with the Florida Retirement System.

How to check and/or update your beneficiaries:

  • Go to benefits.plansource.com
  • Your login is your A# and your password is your birth date in YYYYMMDD format
  • Once you log in you will be prompted to change your password
  • Select "Update My Beneficiaries" on the dashboard
  • Select Basic Employee Life
  • To add a beneficiary click on "Add Primary and/or Add Secondary"
  • To change a beneficiary click on "Remove"
  • You may choose multiple beneficiaries. The allocations must equal 100%