Failure to Designate a Beneficiary

If you do not have a beneficiary because none was designated, or the beneficiary died before you or before receiving all of the benefits payable on your behalf, or the beneficiary cannot be found within two years after you die, then any benefits payable will be paid to your surviving Spouse. If you have no surviving Spouse or the Spouse cannot be located within two years of your death, the benefits will be paid to your heirs or estate.

The Trustees have the sole discretion to decide whether to pay benefits to your heirs or estate when you have no spouse or designated beneficiary.