SNL BENEFICIARY MANAGEMENT CHANGE
 

Effective July 1, 2018, Southern National Life Insurance Company (SNL) will no longer collect or maintain beneficiary information. All group leaders not already collecting and saving beneficiary information should begin doing so by July 1, 2018. 

What This Means for Your Group Clients
SNL will begin to request beneficiary information from group leaders at the time of claim.Beneficiary information currently on file with SNL will not be valid as of July 1, 2018. 

If beneficiary information is not provided, claim payment will be made to “the estate of” in accordance with the group’s life policy. Group leaders are responsible for advising employees of tax implications and consequences for death claim proceeds being paid to the “the estate of” if the employee fails to provide a designated beneficiary.

How We are Notifying Your Group Clients
We will send a letter to each group leader and their employees along with a policy amendment. Please see below for examples of these communications.To help group leaders through this transition, please remind your clients that there are several options for beneficiary management, including:
  • The group's own company form or benefit administration system
  • Attached beneficiary form
  • Blue Cross and Blue Shield of Louisiana's eEnrollment tool 
We appreciate your business, understanding and support. If you have any questions, please contact your Regional Office Representative.