Continued from front What’s the difference between primary and What happens if you don’t name a contingent bene昀椀ciaries? beneficiary? • A primary bene昀椀ciary is the individual, group of If there is no named beneficiary, if all the named individuals, entity, or entities entitled to receive beneficiaries die before you, or if the beneficiary the insurance proceeds that are payable at the records are lost or destroyed, Prudential generally time of your death. pays insurance proceeds to the first of the • A contingent – or secondary – bene昀椀ciary is following: the individual, group of individuals, entity, 1. The surviving spouse or entities eligible to receive the insurance 2. Surviving children in equal shares proceeds that are payable at the time of your 3. Surviving parents in equal shares death, if none of your primary bene昀椀ciaries 4. Surviving siblings in equal shares survive you. 5. The estate If you list a minor as your bene昀椀ciary, how Please refer to your Booklet-Certificate to ensure it will they receive the proceeds? contains the language listed above. When selecting a minor as your bene昀椀ciary, the What happens to your beneficiary insurance proceeds will be disbursed to either: designation if your life insurance is • The legal guardian of the minor’s 昀椀nancial assigned to another person? assets (please note this is not necessarily the Because the assignee has control of your life same as the minor’s natural guardian) insurance, you cannot name a beneficiary. Only the • The adult responsible for the well-being of assignee can do so. If the insurance was assigned the minor bene昀椀ciary, if permitted under any and at the time of your death the assignee didn’t applicable Uniform Transfer to Minor Act. choose a beneficiary, the proceeds will be payable • Prudential, which holds them until the in the following order: bene昀椀ciary is legal age (based upon state law) 1. The assignee, if living to receive the payment. 2. The estate of the assignee When and how can you change a bene昀椀ciary? Generally, you may update your bene昀椀ciaries at any time. It is important to reassess your life insurance bene昀椀ciaries after signi昀椀cant life events—like marriage, divorce, or the birth of a child, to name a few. You are not required to notify the original bene昀椀ciary. In some states, however, if the bene昀椀ciary you wish to name is someone other than your spouse, spousal consent may be required. To make a change, simply contact your benefit administrator. Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. The Booklet-Certi昀椀cate contains all details, including any policy exclusions, limitations, and restrictions, which may apply. © 2023 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. NOT11_FL_GI688_01