By: Cherry Guidry | Claims Manager
It is recommended that Beneficiary Cards be completed and updated annually on every VFIS policy. A separate Beneficiary Card can be completed by the individual for each VFIS policy or one Beneficiary Card can be completed for multiple VFIS policies. It is important that the Type of Policy (use the drop-down feature), Policyholder Name (ie VFD, ESD, County, SFFMA, etc) and Policy Number be completed for each policy on the Beneficiary Card. If no Beneficiary Card is completed on any particular policy, then a letter will be requested from the Policyholder stating such and the claim will be paid according to the policy provisions which is usually stated as follows:
If there is no designated beneficiary or no designated beneficiary is living after the Insured’s death, the benefits will be paid, in equal shares, to the survivors in the first surviving class of those that follow: the Insured’s (1) spouse; (2) children; (3) parents; or (4) brothers and sisters. If no class has a survivor, the beneficiary is the Insured’s estate.”
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