Life Insurance and Keeping Your Beneficiaries Current
Life insurance is easy to set up and then forget. But as your life changes, your coverage needs and the people you want to protect may change, too. Taking a few minutes to review your life insurance and beneficiaries can help ensure your plans still reflect your wishes.
Understanding Your Life Insurance
Life insurance provides a payment to your designated beneficiary when you die, subject to the policy’s terms. That financial support can help loved ones manage everyday expenses, housing costs, outstanding debts and other needs during a difficult time.
Â鶹¶ÌÊÓƵ State provides eligible employees with employer-paid basic life insurance. Employees can also purchase supplemental life insurance for additional protection. When reviewing your coverage, consider who depends on your income and what financial responsibilities they would face without it.
What Has Changed with Lincoln Financial?
Â鶹¶ÌÊÓƵ State’s life insurance, accidental death and dismemberment (AD&D), and long-term disability coverage transitioned to Lincoln Financial effective July 1, 2026. Existing coverage transferred automatically, so employees did not need to re-enroll simply because of the carrier change.
During this year’s open enrollment, Lincoln is waiving Evidence of Insurability requirements for eligible elections up to $200,000 in employee supplemental life insurance and $20,000 in spouse or domestic partner supplemental life insurance. This means eligible employees can elect coverage up to those limits without providing the health information normally required for certain elections. Elections above those limits may require health information and Lincoln’s approval, depending on existing coverage.
Another important change is that age-based reductions in supplemental life coverage now begin at age 70 rather than age 65.
Why Your Beneficiary Designation Matters
Your beneficiary designation identifies who should receive your life insurance benefit. An outdated designation may no longer reflect your wishes, even if your coverage amount is still appropriate.
Review your beneficiaries after a marriage, divorce, birth or adoption, the death of a beneficiary, or another significant family change. Even if nothing has changed recently, an annual review is a good opportunity to confirm:
- Your primary beneficiaries are the people you currently want to receive the benefit.
- Your contingent beneficiaries reflect your wishes if no primary beneficiary survives you.
- Percentage allocations total 100% within each beneficiary category.
- Names and other requested identifying information are accurate and complete.
Take a Few Minutes to Update Your Information
Use to submit your current beneficiary designations. Reviewing your coverage and updating your beneficiaries are small steps that can make an important difference for the people you care about.
Questions?
Please contact Employee Benefits at benefits@kent.edu with any questions or for additional information.
Sincerely,
Sheba N. Marshall
Executive Director, Employee Benefits and Wellness
Division of People, Culture and Belonging
