Keep your designations of beneficiary up to date...
You may want to consider completing a new designation form whenever you have a significant change in your life, such as a marriage, divorce, or death. Be sure it remains accurate and reflects your intentions. You should also file a new designation whenever a beneficiary's address changes. Failure to designate a beneficiary could result in non-payment or wrongful payment of death benefits.
Beneficiary Order of Precedence
If there isn't a valid designation on file when you die, benefits are payable in this order:
First: to your widow or widower
Second: if none, to your child or children in equal shares, with the share of any deceased child distributed among that child's descendants
Third: if none, to your parents in equal shares or the entire amount to your surviving parent
Fourth: if none, to the executor or administrator of your estate
Fifth: if none, to your next of kin under the laws of the State where you lived at the time of your death.
BE SURE to read the specific instructions on each designation form before designating beneficiaries.