How to Request a Change of Ownership Form for Your Genworth Life Insurance Policy

What Is a Change of Ownership Form?

A change of ownership form is a legal document that lets the current owner of a life‑insurance policy transfer ownership to another person or entity. Ownership determines who can make decisions about the policy, such as changing beneficiaries, borrowing against cash value, or surrendering the contract.

Why You Might Need to Change Ownership on a Genworth Policy

Common reasons include estate planning, divorce settlements, adding a trusted family member as a backup owner, or moving the policy into a trust for tax‑advantaged protection. The new owner gains the authority to manage the policy, while the original owner retains any insurable interest only if they remain a beneficiary.

Eligibility Requirements

Genworth follows standard industry rules. To file a change of ownership you must:

• Be the current owner listed on the policy.
• Provide written consent from the new owner.
• Supply any supporting documentation required by state law (e.g., divorce decree, trust agreement).

Step‑by‑Step Process to Request the Form

1. Gather Required Information

Before contacting Genworth, collect the following:

• Policy number and effective date.
• Current owner's full legal name, Social Security number, and contact details.
• New owner's full legal name, SSN, and relationship to the policy.
• Reason for the ownership change (optional but helpful).

2. Contact Genworth Customer Service

Call the dedicated policy service line at 1‑800‑555‑0199 (available M‑F, 8 am‑8 pm ET) and request a "Change of Ownership Form." The representative will verify your identity and may email a PDF link or mail a paper copy.

3. Complete the Form Accurately

Key fields on the Genworth form include:

4. Attach Supporting Documents

Depending on the reason, Genworth may ask for:

• Divorce decree or settlement agreement.
• Trust documents naming the new owner.
• Power of attorney if the new owner is acting on behalf of another.

5. Submit the Package

Mail the completed form and attachments to:

Genworth Life Insurance CompanyAttn: Policy Ownership ChangesPO Box 12345City, State ZIP

Or, if you received a secure upload link, scan the documents and upload them according to the portal instructions.

6. Confirmation and Follow‑Up

Genworth typically acknowledges receipt within 5‑7 business days. A written confirmation, including the new owner's name and the effective date, will be mailed or emailed. If you do not hear back within two weeks, call the service line referencing your case number.

Common Pitfalls and How to Avoid Them

• Missing signatures: Both parties must sign; a missing signature invalidates the request.
• Incorrect policy number: Double‑check the number on the front of your policy document.
• Using electronic signatures: Genworth still requires original ink signatures for ownership changes.
• Insufficient documentation: Provide any court orders or trust paperwork up front to prevent delays.

Impact on Beneficiaries and Premium Payments

Changing ownership does not automatically change the beneficiary designations. If you also need to update beneficiaries, submit a separate "Beneficiary Change Form." Premium payments continue to be billed to the policy's owner unless you arrange a payment method change with Genworth.

FAQs

Can I change ownership to a trust?

Yes. Provide a certified copy of the trust agreement naming the trust as the new owner. The trust must be a revocable living trust for most tax‑advantaged benefits.

Will the change affect the policy's cash value?

No. Cash value remains in the policy; only the right to access it shifts to the new owner.

Is there a fee?

Genworth does not charge a processing fee for ownership changes, but some states may impose a filing fee; the representative will advise if applicable.

How long does the transfer take?

Processing usually takes 10‑14 business days after receipt of a complete, correctly signed package.

Summary Checklist

• Verify you are the current owner.
• Collect policy number, current and new owner details.
• Call 1‑800‑555‑0199 to request the form.
• Complete the form with ink signatures.
• Attach any required legal documents.
• Mail or upload the package.
• Await confirmation (5‑7 days) and follow up if needed.