What is a beneficiary?
- A person or an organization you name to receive your life insurance policy amount in the event of your death.
- Two types of beneficiaries are available:
- Primary beneficiary: Receives the benefit in the event of your death.
- Contingent beneficiary: Receives the benefit if the primary beneficiary(ies) are deceased.
If you do not name a beneficiary, the benefit will be paid out in accordance with group policy provisions.
Who can be a beneficiary?
- One person
- Two or more people
- Trustee
- A charity or organization
- Your estate
Watch these videos for instructions to add a beneficiary
How to add, change or remove beneficiary(ies) from a life insurance policy
Step-by-step guide
How to designate a charity or organization as a beneficiary
Step-by-step guide
Beneficiary designation for those without portal access
If you do not have access to the employee portal, you can remove a beneficiary using the Beneficiary Designation Form.
The Group Life Insurance Policy details the terms of life insurance policies through The Standard Insurance Co. with University of Colorado as the Policyholder.
The Group Policy Amendment No. 23 is attached to and made a part of the Group Policy above.