Why you might need to change your beneficiary
Life changes — and your life insurance should reflect it. Common reasons to update your beneficiary include: divorce or separation, remarriage, the death of a named beneficiary, the birth of a child, or a change in your financial circumstances.
Is your policy in trust?
How you change your beneficiary depends on whether your policy is written in trust:
- Policy NOT in trust — the payout forms part of your estate. To indicate who should receive it, you can nominate a beneficiary informally — but this is not legally binding. Your insurer can tell you how to update the nomination.
- Policy in trust — the trust document names the beneficiaries. To change them, you must complete an amendment to the trust deed — usually a simple form from your insurer.
What to do after divorce
If your ex-spouse is named as beneficiary and you haven't updated the nomination, they may still receive the payout. In England and Wales, divorce does not automatically revoke a life insurance beneficiary nomination — you must update it proactively.
Step-by-step process
- Contact your insurer or check your online portal
- Request a beneficiary change form (or trust amendment if in trust)
- Complete the form with details of new beneficiaries and their shares
- Return the form — and keep a copy for your records
Frequently Asked Questions
Yes — for policies not in trust, you can update your beneficiary nomination at any time. For policies in trust, you complete an amendment to the trust deed.
In England and Wales, divorce does not automatically revoke a life insurance beneficiary nomination. You must update it yourself.