A person has "power of attorney" if someone executes a legal document conveying legal authority to that person to make certain decisions on his behalf, usually in the event of illness or incapacity. It is common for people granted power of attorney to make decisions involving the management of the grantor's life insurance policies. If someone has granted you power of attorney, you can change the beneficiaries of his life insurance policies in just a few short steps.
Step 1
Obtain a copy of the insurance policy for which you wish to change the beneficiary. You will need to refer to the policy number and previous beneficiaries when you make the change.
Step 2
Log on to the insurance company's website and download the "Change of Beneficiary" form. You can also contact the insurance company directly and ask that a copy of the form be mailed to you.
Step 3
Complete the form in its entirety and sign it; insurance companies often refuse to process an incomplete form.
Step 4
Write a letter to the insurance company explaining that you have the power of attorney for the policyholder. State that you wish to change the beneficiary, and inform the insurance company of the names of any new beneficiaries. Provide the number of the policy you are changing as well as all of your contact information. Attach the completed change-of-beneficiary form and any documentation proving that you have power of attorney for the policyholder.
Step 5
Mail the letter certified mail and request delivery confirmation to prove receipt of the materials by the insurance company. The company will contact you after completing the change.
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