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DESIGNATION OF BENEFICIARY FORM (PDF Fill-In Form Instructions) PRINT When To Use This Form When you need to add, change or remove a beneficiary on your account. Primary Beneficiary(IES) The person(s)

How to fill out designation of beneficiary form

How to fill out designation of beneficiary form:

1. Obtain the form: You can request the designation of beneficiary form from your employer, insurance company, or financial institution. It may also be available for download from their website.
2. Provide personal information: Fill in your full name, address, date of birth, and contact information. Make sure to double-check the accuracy of the information provided.
3. Specify the policy or account details: Indicate the specific policy or account for which you are designating a beneficiary. Provide the policy or account number, if applicable.
4. Choose primary and contingent beneficiaries: Designate the primary beneficiary, who will receive the benefits upon your death. You can also name contingent beneficiaries, who will receive the benefits if the primary beneficiary predeceases you.
5. Specify the percentage of benefits: If you have multiple beneficiaries, indicate the percentage of benefits each beneficiary will receive. The total percentage should add up to 100%.
6. Include Social Security numbers: Some forms may require you to provide the Social Security numbers of the beneficiaries. Make sure to input them accurately.
7. Sign and date the form: After completing all the necessary information, sign and date the form as required. Some forms may also require witnesses or a notary public.
8. Submit the form: Once you have completed the form, submit it to the appropriate party as instructed on the form. Keep a copy for your own records.

Who needs designation of beneficiary form:

1. Individuals with life insurance policies: People who have life insurance policies should consider filling out a designation of beneficiary form to specify who will receive the benefits upon their death.
2. Retirement plan participants: Those who have retirement plans, such as a 401(k) or an IRA, may need to complete a designation of beneficiary form to determine who will inherit the remaining funds in the account.
3. Account holders with financial institutions: Individuals who hold accounts, such as bank accounts or investment accounts, may be required to fill out a designation of beneficiary form to designate who will inherit the funds in the accounts.
4. Employees with employer-provided benefits: Many employers offer employee benefits such as group life insurance or retirement plans. In such cases, employees may need to complete a designation of beneficiary form to determine who will receive these benefits in the event of their death.

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What is designation of beneficiary form?

A designation of beneficiary form is a legal document that allows an individual to specify who will receive their assets or benefits after their death.

Who is required to file designation of beneficiary form?

Any individual who wants to designate a beneficiary for their assets or benefits is required to file a designation of beneficiary form.

How to fill out designation of beneficiary form?

To fill out a designation of beneficiary form, you need to provide your personal information, such as your name, address, and social security number, as well as the details of your chosen beneficiary.

What is the purpose of designation of beneficiary form?

The purpose of a designation of beneficiary form is to ensure that your assets or benefits are distributed according to your wishes after your death, without the need for probate or court intervention.

What information must be reported on designation of beneficiary form?

The information that must be reported on a designation of beneficiary form typically includes the individual's personal information, details of their assets or benefits, and the chosen beneficiary's information.