Take Care of the People You Love
Designating a beneficiary for your life insurance and retirement savings accounts is critical to ensure that benefits are paid to the person or persons you choose in the event of your death, and it helps avoid legal disputes over your accounts.
In addition to designating your beneficiaries when you first enroll in benefits, it is important to update your beneficiary information whenever your circumstances change. You may change your beneficiary designations at any time. Please note that you will need to designate and update your beneficiaries separately with each of the following, if you are enrolled:
- MetLife (life insurance plans)
- TIAA (retirement savings plans)
- Fidelity Investments (retirement savings plans)
If you don’t designate a beneficiary for your TIAA and Fidelity retirement savings accounts, the account will be paid according to the person or persons surviving you in the following order: spouse, children, parents, siblings, personal representative (executor or administrator).
If you don't designate a beneficiary for your MetLife insurance plans, or if none of the beneficiaries you name survives you, death benefits will be paid to your survivors/estate in the following order: spouse/OQA, children, parents, siblings, estate.
Updating Your Beneficiaries
Update your life insurance beneficiaries with MetLife online (register with UMID or SSN upon first use) or by completing and submitting the Beneficiary for Group Life Insurance form. Submit your completed form via fax or mail to:
MetLife National Benefit Center
P.O. Box 14406
Lexington, KY 40512-4406
(859) 825-6719 (fax)
To Register on the MetLife My Benefits Website
You will only need to follow these steps on your first visit:
- Go to metlife.com/mybenefits.
- Enter University of Michigan and click Submit.
- Carefully read the important information, and then click Continue.
- Click the Register Now button for first time users.
Step 1: Enter your Name, Social Security Number (SSN) or Employee ID (your UMID) and then enter or select your Date of Birth. Enter and confirm your Email Address. (Note: To verify your identity, entering your SSN or Employee ID is required as part of this step of the enrollment process. After registration, you will not have to enter your SSN or Employee ID to login to the site).
Step 2: You will be prompted to create a User Name and Password. (Please make sure to write down your new User Name and Password and keep in a safe and convenient place.)
Step 3: Select three security questions and provide your answers.
- Click Enter MyBenefits Now to continue.
To Update Your Life Insurance Beneficiaries
After you have registered on the MetLife/MyBenefits website, follow these steps to update your U-M life insurance beneficiary information:
- Go to metlife.com/mybenefits
- Log in using the user name and password you created during registration
- Click Life Insurance – Group Term Life under the Products & Services tab
- Click Add/Update Beneficiaries. Follow the steps to designate a beneficiary for your life insurance.
For problems or questions with registration, please call MetLife Web Technical Support at 877-963-8932 (877-9METWEB).
To update your beneficiaries for accounts you hold with TIAA for the Basic Retirement Plan, 403(b) Supplemental Retirement Account, and 457(b) Deferred Compensation Plan online, log on to TIAA. If you need help, call TIAA at (800) 842-2252 (Monday through Friday, 8:00 a.m. to 10:00 p.m. EST or Saturday 9:00 a.m. to 6:00 p.m. EST).
Update your beneficiaries for accounts you hold with Fidelity Investments for the Basic Retirement Plan, 403(b) Supplemental Retirement Account, and 457(b) Deferred Compensation Plan online at netbenefits.com/uofm or by calling (800) 343-0860, 8:00 a.m. to midnight EST.
It’s a good idea to check with your financial advisor, custodian, or attorney to determine whether your beneficiary designation(s) will produce the results that you desire. Keep a copy of all beneficiary designations and review them periodically.
If you have any questions, you may call the SSC Contact Center at 5-2000 from the Ann Arbor campus, (734) 615-2000 locally, or (866) 647-7657 toll free, Monday through Friday from 8 a.m. to 5 p.m. The Service Center representatives cannot provide legal advice.