The beneficiary of a policy or annuity is the person who receives the proceeds of an insurance policy or annuity contract upon the death of the insured or annuitant. The beneficiary is named by the policyowner. The policyowner is the only person who can change the beneficiary.

Naming More Than One Beneficiary
You may name multiple beneficiaries. All death benefits will be paid in equal proportion to all beneficiaries who survive and receive payment, unless you specify otherwise.

To distribute the death benefit unequally, indicate what fraction or percentage you would like each beneficiary to receive. Avoid using dollar amounts. When the claim is made, the amount of the death benefit may not be the same as it is today.

If you prefer to designate dollar amounts, please contact your Financial Representative for the specific language you will need to complete the Change of Beneficiary form.

Changing a Beneficiary's Name or Address
You do not need to fill out a form if you are only changing the current beneficiary's name and/or address (i.e. marriage, adoption, or other legal name change). Simply call your Northwestern Mutual Financial Network Representative, Northwestern Mutual or contact us using our Request for Service Form.

To Change a Beneficiary
To change the beneficiary, print out and complete the Change of Beneficiary form. This form is available on the Life Insurance listing page under Printable forms.

When the policyowner is a business or trust, the form must include the name of the business or trust, and the title of the person signing. That person should not be the person insured or the person who will benefit from the change.

After we have accepted and recorded the information on your Change of Beneficiary form, the change becomes effective as of the date the form was signed.