Confirming your Beneficiary Designations – Life Insurance & 401(k) Accounts
July 1, 2022
As the saying goes, “Life is what happens when you’re busy making plans.”
It goes without saying, not all of lifelines up with the plans we might be making. For this reason, it’s important that we protect our families and our hard-earned benefits by ensuring our beneficiary designations accurately reflect our intentions.
Marriage, birth, adoption, divorce, or death are all important reasons to review the beneficiary designation on your life insurance and 401(k) accounts. Having the beneficiary, you want for your United Airlines Flight Attendant 401(k) Plan ensures that your account balance will transfer to who you wish without the cost or delay of your assets getting tied up in probate. As a matter of understanding, a Will only distributes your personal assets and doesn’t apply to your 401(k). If you don’t have an updated beneficiary, your loved ones may need to complete additional documentation which could delay their receipt of the payment for your account balance. Depending on your individual circumstances, this might be something your family may need in the event something was to happen to you unexpectedly.
Review and update your beneficiary information:
1. Log on to NetBenefits® at www.netbenefits.com
2. Click the Your Profile link
3. Select Beneficiaries* and follow the online instruction.
For more information, please contact your Local Council Benefits Committee.