Changing Tiaa Life Insurance: Payment Option Modification

TIAA life insurance policyholders can pay their premiums online or through the mail. They can pay monthly, quarterly, semi-annually, or annually. If you plan to pay quarterly, semi-annually, or annually, you have three payment options: electronic funds transfer (EFT) from a checking or savings account, automatic credit card deduction, or be billed by mail and pay by personal check. If you plan to pay monthly, you can set up an automatic payment deduction from a checking or savings account. To set up an EFT, download the Authorization for Electronic Funds Transfer (EFT) form, fill it out, and return it to TIAA. To set up a credit card deduction, call 877-694-0305. To change the frequency of your payments, call 877-694-0305, Monday through Friday, 8 a.m.– 6 p.m. ET.

Paying by credit card

If you plan to pay quarterly, semi-annually, or annually, you can choose the option of automatic credit card deduction. However, if you plan to pay monthly, it is recommended that you have your payment deducted from a checking or savings account.

You can pay your life insurance premiums online or through the mail. To pay online, log in to your account, then, under the "My Account" section, look for the "Other Accounts" section. From there, select "Life Insurance" to get started.

If your insurance is owned by a trust, you cannot view your policy or pay your premium online. In this case, you will need to call 800-223-1200 for information.

Electronic funds transfer (EFT)

Paying your life insurance premiums via Electronic Funds Transfer (EFT) is a convenient way to ensure your payments are made automatically. This payment option is available for those who want to pay their premiums monthly, quarterly, semi-annually, or annually. Here is a step-by-step guide on how to set up and manage your TIAA life insurance payments using EFT:

Step 1: Download the Authorization Form

To get started, you will need to download the "Authorization for Electronic Funds Transfer (EFT)" form from the TIAA website. This form allows TIAA to deduct your premium payments directly from your checking or savings account. The form can be found on the TIAA website, under the relevant insurance product pages or by searching for "EFT form" on the site.

Step 2: Complete the Form

Fill out the EFT authorization form with the required information. This will include your personal and banking details, such as your name, address, bank account number, and routing number. Make sure to carefully review the form before submission to ensure all information is accurate.

Step 3: Submit the Form to TIAA

Once you have completed the form, submit it to TIAA. You can submit the form online through your TIAA account or by mailing it to the appropriate TIAA address. Submission details may vary, so refer to the form or the TIAA website for specific instructions.

Step 4: Set Up Automatic Payments

After TIAA receives your completed form, your EFT payment option will be activated. This means that your life insurance premium payments will now be automatically withdrawn from your chosen bank account on the due dates. You will not receive individual payment confirmations, but the transactions will appear on your bank statement.

Step 5: Cancel or Change Payment Option

If you need to cancel or change your EFT payment option, be sure to notify TIAA at least seven days before the next premium due date. You can do this by contacting TIAA customer service or making the necessary changes through your online TIAA account, if available. Remember that this payment option remains in effect until you cancel it.

By following these steps, you can efficiently set up and manage your TIAA life insurance payments using Electronic Funds Transfer (EFT). This option provides a convenient way to ensure your premiums are paid automatically and on time.

Paying by mail

If you plan to pay quarterly, semi-annually, or annually, you can choose to be billed by mail and then pay by personal check. If you opt for monthly payments, you can have your payment deducted from a checking or savings account. To set this up, you need to download, fill out, and return the "Authorization for Electronic Funds Transfer (EFT)" form to TIAA. This form can be found on their website. Please note that TIAA does not send payment confirmations for automatic EFT, but the transactions will appear on your bank statement. This payment option will remain in effect until you decide to cancel it.

When paying by mail, it is important to send your payments to the correct address. The address depends on the type of life insurance policy you have. For Universal Life Insurance premium payments, use the following address:

TIAA-CREF Life Premiums Insurance Service Center

P.O. Box 933714

Atlanta, GA 31193-3714

For Variable Universal Life premium payments, use this address:

TIAA-CREF Life Insurance Service Center

P.O. Box 933523

Atlanta, GA 31193-3523

For all other Life Insurance policy types, send your premium payments to:

TIAA-CREF Life Insurance

P.O. Box 6137

Carol Stream, IL 60197–6137

Cancelling a TIAA life insurance policy

To cancel a TIAA life insurance policy, you will need to contact TIAA directly. You can do this by calling their customer service line at 800-223-1200. You can also log in to your account on their website and use the Message Center to get in touch.

If you have questions about your policy or need help with anything else, you can also try searching the FAQ library on their website or browsing by topic.

Viewing your life insurance information online

To view your life insurance information online, log in to your TIAA account. Once you're logged in, follow these steps:

• Under "My Account", look for the "Other Accounts" section.
• Select "Life Insurance" to view your account information.

Please note that if your insurance is owned by a trust, you won't be able to view your policy online. In this case, you can call 800-223-1200 for information.

Frequently asked questions