Designating a Beneficiary

Is your life insurance beneficiary information up to date? We encourage you to take a few minutes to review your beneficiary designations, especially after a life event, such as marriage, divorce, birth of a child, etc.

You should name a beneficiary for your life and AD&D insurance coverage(s). This ensures that MetLife will distribute the policy proceeds the way you want after your death.

If you don’t name a beneficiary, or if your beneficiary passes away before you, your life insurance proceeds will be paid in accordance with the Facility of Payment listed below in the following order:

Your spouse;
Your child(ren);
Your parent(s);
Your siblings; or
Your Estate

For more information, please review the ITW Life Summary Plan Description (SPD) found on the ITW Employee Self-Service website.

Things to keep in mind:

Think carefully about all options before naming minor children as Life Insurance beneficiaries. By law, minors cannot receive or control these assets, so funds must be distributed to someone who is 18 or older or may be held by the carrier until the child is no longer a minor. Distribution may be determined by the State. No matter the size of your estate or your Life Insurance policy, it may be better to put the assets into a trust to be distributed to your heirs according to your specific instructions. A trust is not as complicated.
If you have more than one primary beneficiary, please be sure to specify the percentage of proceeds you’d like each one to receive.
Don’t forget to name a secondary beneficiary in the event your primary beneficiary passes away before you.
If you list specific beneficiaries, then your Life Insurance policy will override your will. Make sure your wishes are covered in both documents.
You can designate your favorite charity or non-profit as a beneficiary. Be sure to include the Tax ID and contact information.
Consider consulting an advisor (investment professional, accountant, lawyer, etc.) if you have specific questions.

What you need to do:

Please complete the steps below to name or update your beneficiaries as soon as possible.

Gather the following information about each of your beneficiaries:
- For individuals, you need the beneficiary's full name (required), full address, phone number, date of birth, relationship (required), and social security number.
- For trusts, you need the trust name (required), address, trust date, and tax identifier.
Call the ITW Benefits Service Center at 1-866-416-4931.
- Representatives are available between the hours of 7am to 7pm Central, Monday through Friday, except for holidays.