Requirement that beneficiary designation be in writing

[Guest HIPAAdrome]

Is anyone aware of any reason that would prevent a life insurance company from insisting that beneficiary designations be in writing? Client wants to do "everything" online, insurance company is balking, and client is insisting that the insurance company cannot require a writing. Seems unlikely to me.

[KIP KRAUS]

HIPAAdrome:

Unless there is absolute security on line, where no one can tamper with the beneficiary designations, I would not recommend nameing beneficiaries on line. I'm no attorney, but since typically an employee can name anyone as beneficiary(except the employer) he/she wants to under a group life plan, I could see major litegation arising from an employee naming someone other than a spouse if done on line. If the desination is in writing, and signed by the employee, it would be hard to refute. It also may be a state insurance regulation that beneficiaries be designated in writng.

As much as some employers may want to eliminate as much paper as possible, I think it prudent to have this kind of information in writing.

[Guest]

State insurance laws frequently require life insurance beneficiary designations to be in writing.