It's not a big deal that the user must goto the same portal to login. However, it is an annoyance if after the user logs in, the system promptly forgets they want to change beneficiaries and dump them to a non-specific landing page. Why do you ask the user to make a choice when their choice doesn't matter?
So, if it's possible to redirect users upon login to the specific area they initially clicked on, then it make sense to have the 2 buttons.
If that's not possible, consider making that a single button and update the description to be descriptive about what the user can do in the portal.