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What You Need to Know About Beneficiary Designations

Including How to Update Them

Anytime you start a new job, you fill out the necessary paperwork for your retirement account and life insurance policy. This includes listing the beneficiary, or beneficiaries, of each. But, you may not have a full understanding of what that means. Learn more about this important choice.

Q. What is a beneficiary designation?
A. Beneficiaries are the people and/or organization(s) that you designate to receive an asset (such as a retirement plan or life insurance policy) following your passing.

Q. Won’t my will take care of distributing my retirement plan assets and life insurance?
A. No. These assets pass outside of your will. To make sure they go to the right people and places, be sure to let your beneficiaries know that you’ve named them.

Q. Can I change my beneficiaries?
A. Yes. You can update your beneficiaries at any time. Simply request a change-of-beneficiary form from your plan administrator (or download a copy from their website).

Q. How often should I review my beneficiaries?
A. You should review your beneficiaries regularly. However, life events such as marriage, the birth of a child or the loss of a loved one should trigger an additional review.

Take the Next Step

If you’ve decided to support UWBC by naming us as a beneficiary of your retirement plan assets or life insurance, please let us know by contacting Angie Finney at angief@uwberks.org or 610-685-4570. It would be our honor to thank you and ensure your gift is used as you intend.

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United Way's Mission

United Way of Berks County improves lives by inspiring collaboration, volunteerism and financial support to build a stronger community.

United Way's Vision

The United Way of Berks County will enhance the quality of life in our community by mobilizing the desire and capacity of people to care for one another.

United Way's Core Values

United Way of Berks County's role as a leader in the health and human services sector requires all persons involved with United Way of Berks County to assume responsibility of maintaining the public's trust.  To fulfill this obligation to the community and to ourselves, our Core Values provide the foundation on which we base our actions and decisions.  They are:

 

Integrity

Inclusiveness

Teamwork and Communication

Volunteerism

Impact

Community Leadership

 

Blue Bar

United Way of Berks County

P.O. Box 702

Reading, PA 19603

610-685-4550 postmaster@uwberks.org 

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