Policy Changes

If you’d like to make a change to your life insurance policy, like increasing or decreasing the death benefit amount, adding a rider, or other change, please review the information below.

Policy change requests

In order to process a change (face amount change, death benefit option change, or other change) to your policy, we require a state specific Policy Change Conversion Form.

• If the type of change requested requires medical evidence of insurability, additional information may be required as a result of underwriting.
• If the request is for non-underwritten changes (removal of riders, decreases in coverage) a written request from the policyowner will be accepted. This request should include the date, owner's name, policy number, and type of change requested.
• Please Note: Policy changes are not allowed on all products. For information about your policy, please contact your agent or our Administrative Office.

Adding a child to existing Children's Insurance Rider

A child covered under Children’s Term Insurance Rider is any child born naturally or legally adopted by the insured.

• Most coverage begins at age 15 days and continues through age 25. Please reference the benefit rider attached to your policy for additional information.
• To add a child, please contact our Administrative Office.

Change of address

We will accept a change of address from the Postal Service, policyowner or an active agent contracted with North American. The request may be made by phone, fax, email, or written correspondence. A confirmation letter will be mailed to the previous address confirming the new information.

Change of name

We require a written notification to change the name of an insured, policyowner and beneficiary. This request should include the new name and reason for the change. Complete a Multipurpose Service Request form
(L-2777). Please note if the individual is a male or child, we also require a copy of a legal document reflecting the name change and reason.

Change of beneficiary

Complete a Beneficiary and Ownership Change form (L-2402). The beneficiary section must be completed in full (including relationship) and signed by the policyowner.

• If the policy was issued in a community property state or if the policyowner currently resides in a community property state and the spouse was the beneficiary listed at the time the policy was issued, we require the spouse's signature.
• If the policy contains an irrevocable beneficiary designation, we require his/her signature.
• Once the change has been processed an endorsement will be mailed to the policyowner to be retained with the policy contract and all previous designations will be revoked.

Change of owner

To change the owner of your policy, complete a Beneficiary and Ownership Change form (L-2402). The ownership section must be completed and both the present and new owners must sign the form.

• Under certain circumstances, the owner's spouse may be required to sign the ownership change form.
• If the policy is assigned or contains an irrevocable beneficiary (a beneficiary whose rights to the proceeds of a life insurance policy cannot be cancelled by the policyowner unless the beneficiary consents), their signatures would be required for the change to be processed.
• Once the change has been made, the previous owner no longer has any rights to the policy information or the ability to make any future changes.

Removing a rider or benefit from your policy

To remove a rider or benefit, please complete a Policy Change Conversion Form. A written request signed and dated by the policyowner is also acceptable.

Decrease in policy face amount

You may decrease your policy's face amount depending on the coverage purchased. Our term life insurance policies do not include a decrease provision.
Some of our universal life insurance policies may allow a decrease, but not to an amount lower than the minimum face amount for the plan as specified in your policy contract. For universal life policies that are within their surrender charge period, a pro rata surrender charge may be assessed when processing a face amount reduction.

If present owner passes away before the insured

Complete a Beneficiary and Ownership Change form (L-2402). The Executor of the deceased's estate must complete this form enclosing a copy of the owner's death certificate along with documentation naming them as executor. If no executor was named, we require the next of kin to confirm the change by signing on behalf of the estate (stating the relationship to the deceased owner) and indicate that no executor was named.

Re-Entry/Conditional Exchange

Re-Entry/Conditional Exchange is a premium discount option that is available on certain term and whole life insurance products. This option allows you to request level premiums for the same length of time as your original coverage and is available at the end of your current guaranteed period. Re-Entry/Conditional Exchange requests will be fully underwritten. Please refer to your policy for availability and additional information.

Policy reinstatement

In most states, you may reinstate your lapsed policy at any time within five years of the date of termination and before the Maturity Date. Please reference your policy for additional information.