To make their group life insurance beneficiary designations without completing a paper form
Fort Dearborn Life Insurance (Fort Dearborn) is providing Online Beneficiary Management, an online service which aids employees to make their group life insurance beneficiary designations without completing a paper form.
Online Beneficiary Management is available to groups with 500 or more employees, said the company.
The service is expected to help employees to make their beneficiary designations through an online site. It is important for those with life insurance to name beneficiaries of their life insurance proceeds, otherwise their group life insurance benefits could revert to the state.
Tony Trani, President and CEO of Fort Dearborn Life, said: Online Beneficiary Management will streamline the beneficiary designation process for employers. It will lower costs by eliminating paper and utilising a more efficient online process.
Fort Dearborn Life Insurance is a US-based insurance company which offers employee benefits.