Question about State Farm benefits management account

Hello,

I’m trying to help my grandma with some paperwork and beneficiary changes after one of her children died. She doesn’t have dementia, but she does have some executive functioning issues (like getting easily overwhelmed by paperwork). We have called her local State Farm agent for help, but he is absolutely useless and takes weeks to call back. His office suggested we come in person, but she is home-bound due to medical issues (like vertigo which makes her listening to overwhelming info on the phone even harder). She has requested the paperwork in the mail, but the office seems to have never sent it.

The account she is trying to change beneficiaries for is what used to be called a “Benefits Management Account.” She showed me paperwork from 2003-2020 that had an ACCOUNT NUMBER, but after 2020 paperwork for the same account switches to a POLICY NUMBER (LF-###). However, it’s all referring to a paid out account for my (obviously deceased) grandfathers life insurance. I found a paper from 2020 that said State Farm was closing their BMA banking accounts and that the account would shift to a different State Farm option. It seems this is when the account shifted from using an ACCOUNT NUMBER to a POLICY NUMBER.

I was able to find beneficiary change paperwork online that I can print and she can fill out and mail back. Before I print, I want to be sure I’m using the correct form. For the account I’m talking about above, would the “State Farm Funds Designation or Change of Transfer on Death Beneficiary” form be correct? If so, which account number would she put — the ACCOUNT NUMBER or the LF- POLICY NUMBER?

Finally, if I can ask for more, she said that she pays for a $21/month State Farm life insurance policy she’s had on me since I was a baby. She asked her agent to send her the form to transfer ownership of that to me for me to take over the payments and account. She never received the form. Is anyone able to find the form online? He told her it was a “change of ownership” form.

Thanks for any help anyone can provide!

submitted by /u/Hey_internet
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