Change to Third Party Disbursement Policy Effective 11/01/21

Lafayette Life is committed to protecting our clients’ financial assets. The incidence of fraud in financial services is steadily increasing as the creativity of fraudsters continues to grow. A policy of allowing the disbursement of life insurance or annuity funds to a third party creates additional financial risk for both the client and Lafayette Life. Third parties include any individuals and entities who are not the documented owners of the policy, including spouses and personal businesses. Effective 11-1-2021, we will no longer disburse funds to any entity other than the documented owner of the policy in question, except in cases of 1035 exchanges, court orders, and qualified charitable distributions. We apologize for any inconvenience resulting from this updated policy. Implementing this practice is an important step toward protecting our clients.