When you enroll for benefit coverage, you need to complete a beneficiary designation form and send it to the Bayer Benefits Center.
You may name one or more beneficiary(ies) for your employee life insurance, AD&D insurance, and business travel accident insurance. You may name separate beneficiaries for each of these benefits, and you may name one or more contingent beneficiaries as well, if you wish. You are automatically the beneficiary of any spouse or dependent coverage you choose. Dismemberment benefits are paid to you.
If you do not have a designated beneficiary at the time of your death, payment of your benefits will be made in the following order of succession:
- For employee life insurance, AD&D insurance, and business travel accident insurance, your benefits are paid to your:
- Children equally
- Parents equally
- For spouse and dependent life insurance where you are the beneficiary, if you are not living, benefits are paid to:
You can change your beneficiary at any time by contacting the Bayer Benefit Center or by phone at (800)-806-4693 and requesting a beneficiary designation form. Complete a new beneficiary designation form and return it to the Bayer Benefit Center. Your new beneficiary designation will take effect once the Bayer Benefit Center receives the complete and signed form. Remember to keep a record of your current beneficiary designation.