As your life changes, be sure to update your beneficiaries.
After you experience a life event like marriage or welcoming a new child, you should also consider how the changes will affect your beneficiary designations for life and AD&D insurance, your pension (if applicable), 401(k) benefits and Health Savings Account.
A beneficiary is the person or persons who will receive financial benefits in the event of your death. By keeping your beneficiary information up to date, you ensure that your loved ones will be financially protected the way you intended. While thinking about beneficiaries may be somber, it provides peace of mind for you now and less worry for your survivors in the future.
If you name multiple beneficiaries, you need to indicate what percentage of the total benefit each beneficiary should receive. All the percentages must add up to 100%.
Life Insurance and AD&D Insurance
All team members should designate a beneficiary for their Life Insurance and AD&D Insurance provided by Tenneco.
In addition to the primary beneficiary, you can name a secondary beneficiary. That is a person or persons who will receive financial benefits in the event your primary beneficiary dies before you do.
If you choose to purchase Dependent Life insurance for your spouse, domestic partner or children, you will automatically be the beneficiary for those coverages.
You can update your beneficiaries for life insurance any time during the year through the enrollment portal, myTennecoUSBenefits.com.
401(k) Plan
All team members should designate a beneficiary for their 401(k) Plan accounts.
If you are married, by law, your spouse must be your sole primary beneficiary unless he or she consents in writing for you to name a different beneficiary.
In addition to the primary beneficiary, you can name a secondary beneficiary. That is a person or persons who will receive financial benefits in the event your primary beneficiary dies before you do.
You can update your beneficiaries for the 401(k) Plan any time during the year through Fidelity’s website, 401k.com.
Pension
Team members eligible for pension may also update their beneficiary information.
- If you are a legacy Tenneco employee and eligible for pension, please contact Fidelity NetBenefits at 866-612-4588 or access your account online at netbenefits.com.
- If you are a legacy Federal-Mogul employee and eligible for pension (hired prior to 1/1/2012), please call Federal-Mogul Pension Services at 855-874-7623 or access your Federal-Mogul pension account.
Health Savings Account
Since health savings accounts are a financial asset, you should be sure to name a beneficiary for your account, if you have one. Go online by visiting healthequity.com, select Management Account and choose Beneficiaries to designate or update your beneficiaries for your Health Savings Account.
