What is a beneficiary, and who can be one?
A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit. You can name:
- One person
- Multiple people, up to ten.
- The trustee of a trust you’ve set up
- A charity
- Your estate
If you don’t name a beneficiary, the death benefit will be paid to your estate.
How do I name my beneficiary or beneficiaries?
Go to yulife.com and click sign in > members. Enter your details and login.
Once in your dashboard, go to the top right hand corner, and click the beneficiaries tab.
To add beneficiaries, click the pink + button in the "add a new beneficiary" box.
If you add two or more beneficiaries, you may want to edit the amounts each individual or registered charity receives. Click the "edit split" button in the top right corner.
You can edit the percentages each beneficiary receives. This can be edited and updated at any time.
You can also access your dashboard by logging into the yulife app. Tap the menu button in the top lefthand corner, and then Member Zone. Follow the instructions above.