What happens if I do not file a Designation of Beneficiaries?

In case a Designation of Beneficiaries is not filed, or it is declared void, the death benefits will be distributed in accordance to the master policy’s Beneficiary Clause: “If at the time of the death of a covered employee, there is no designation of beneficiaries, we will pay said benefits in a lump sum to one of the following groups of persons, in equal (amounts) shares, and in the following preferential order: 1) spouse, 2) surviving children, 3) surviving parents, 4) surviving siblings, 5) executor or administrator.”