Beneficiary Review Checklist
Use this checklist to review the people named on retirement accounts, life insurance and other financial arrangements that may allow a beneficiary designation. The goal is simple: know which accounts have beneficiaries, know who is currently named and review them when life changes.
Do not enter beneficiary names, account numbers, Social Security numbers or other sensitive personal information into this page. Use the checklist only to confirm that each designation has been reviewed.
Beneficiary review
Check each item after you review it.
Some retirement accounts, insurance policies and financial accounts use beneficiary designations that operate according to the account or policy rules. Review the actual designation held by the provider rather than relying only on a will, personal note or memory.
Review one account type at a time.
Not every item will apply to you. The purpose is to identify the accounts and policies that do allow beneficiary designations and make sure those records still reflect what you intend.
401(k), 403(b) and other employer plans
Review beneficiary information attached directly to workplace retirement accounts.
Traditional, Roth and other IRAs
Beneficiary information should be reviewed directly with each IRA custodian.
Employer-provided life insurance
Workplace coverage may have a beneficiary designation separate from other accounts.
Personally owned life insurance
Review each policy separately rather than assuming they all name the same person.
Accounts with transfer or payable-on-death features
Some financial accounts may allow beneficiary-style transfer arrangements.
Look beyond the obvious accounts
Other benefits or financial arrangements may also allow beneficiary designations.
Review after major personal changes
Beneficiary choices made years ago may no longer match your current household.
Review the backup plan
A contingent beneficiary may become important if the primary beneficiary cannot receive the asset.
Consider situations that may need professional guidance
Some beneficiary choices require more planning than simply typing a name into a form.
Make sure the pieces do not contradict each other
Your will, trusts and beneficiary designations may need to be reviewed as one coordinated plan.
Know where the confirmations are
Keep proof of completed beneficiary updates without placing sensitive information in an insecure location.
Close the gaps
Finish by looking for anything you skipped because it was old, forgotten or inconvenient.
One person can have beneficiary designations in several different places.
That is why a review works better as an account-by-account process. A beneficiary on a retirement account does not automatically tell you who is named on life insurance, an IRA or another eligible financial account.
My beneficiary map
Some life events should trigger another beneficiary review.
You do not need to constantly change beneficiary forms. But major changes in family, employment or estate planning are useful reminders to check whether older designations still fit.
Marriage
Review retirement accounts, workplace benefits, insurance policies and other existing designations.
Divorce or Separation
Review current provider records and obtain appropriate professional guidance where legal rules matter.
New Child
Review beneficiaries as part of broader insurance, guardianship and estate-planning decisions.
Death in the Family
Review any account where the person who died was named as a primary or contingent beneficiary.
Job Change
New retirement and insurance benefits may require new beneficiary elections.
Estate Plan Update
Review beneficiary designations when wills, trusts or other major planning documents change.
Connect beneficiary decisions with the rest of your planning.
Use account providers and official resources when beneficiary rules matter.
Beneficiary rules can differ by account type, retirement plan, insurance policy, marital status and other circumstances. Review the actual provider documents and use qualified professional guidance when the situation is more complex.
Review the oldest beneficiary designation first.
Old retirement accounts, old insurance policies and accounts opened before a major family change are often the easiest places for outdated information to hide. Work through them one provider at a time and keep confirmation of any changes securely.