You are able to change your beneficiaries at any time, just send the beneficiary change form signed by the policy owner to customerservice@olelife.com. We ask that you also include an image of the policy owner's and beneficiaries' IDs attached. Please note that if there is an irrevocable beneficiary on the policy, this benefit must also sign the form and include a copy of the beneficiary's ID. Make sure that the percentages assigned to each beneficiary add up to 100%.
Remember that in order to designate beneficiaries there must be an insurable interest and the percentages of insured sum designation must add up to 100%. If the beneficiary is a minor, a guardian must be assigned and the guardian's identification must be submitted.
It is important to consider when assigning your beneficiaries that there must be an insurable interest in order for our underwriting team to complete the evaluation.