Get the free Beneficiary Designation Form

This document is used by employees of DePaul University to designate their beneficiaries for life insurance benefits, including Basic Life, Supplemental Life, and AD&D benefits.

How to fill out beneficiary designation form

How to fill out Beneficiary Designation Form

1. Obtain the Beneficiary Designation Form from your insurance company or financial institution.
2. Read the instructions carefully to understand the requirements for completing the form.
3. Fill in your personal information, including your full name, address, and account number.
4. Specify the beneficiaries by providing their full names, addresses, and relationship to you.
5. Indicate the percentage of the benefits each beneficiary should receive if multiple beneficiaries are named.
6. If applicable, include contingent beneficiaries to receive benefits if the primary beneficiaries are unavailable.
7. Sign and date the form to verify that you authorize the designations.
8. Submit the completed form to the appropriate department of the insurance company or financial institution.

Who needs Beneficiary Designation Form?

1. Individuals with life insurance policies.
2. Account holders of retirement plans like IRAs or 401(k)s.
3. People wanting to designate beneficiaries for wills or trusts.
4. Anyone seeking to ensure proper distribution of assets upon death.

People Also Ask about

What is an example of beneficiary designation?

For example, if you name your three cousins as your primary beneficiaries, you can name the children of each cousin as alternate primary beneficiaries. Then, if one cousin dies before you do, their share will be divided between their children who are named as alternate primary beneficiaries.

What is an SF 2823 form for?

Abstract: Standard Form 2823 is used by any Federal employee or retiree covered by the Federal Employees' Group Life Insurance (FEGLI) Program, or an assignee who owns an insured's coverage, to instruct the Office of Federal Employees' Group Life Insurance how to distribute the proceeds of the FEGLI coverage when the

What are beneficiary designations examples?

What is beneficiary designation? Surviving spouse. Child under the age of 18. Individual with a disability. Individual who is chronically ill. Individual within 10 years of age of the deceased.

What is standard beneficiary designation?

Any of the following individuals are considered an eligible designated beneficiary (EDB): a surviving spouse, a disabled or chronically ill individual, an individual who is not more than 10 years younger than the IRA owner, or a child of the IRA owner who has not reached the age of majority.

Who is considered a designated beneficiary?

In estate planning, a beneficiary is any person or entity you designate to receive an asset after you're gone. Naming beneficiaries is an integral part of several different estate planning elements, including: A will. Life insurance policies. Qualified retirement plans, including any 401(k), 403(b) and pensions.

What is dd form 2894 used for?

PRINCIPAL PURPOSE(S): This form is used to determine the beneficiaries of a deceased military retiree for entitlement of unpaid retired pay.

For pdfFiller’s FAQs

What is Beneficiary Designation Form?

A Beneficiary Designation Form is a legal document that allows an individual to specify who will receive their assets or benefits upon their death.

Who is required to file Beneficiary Designation Form?

Individuals with retirement accounts, life insurance policies, or other financial assets that allow for beneficiary designations are typically required to file a Beneficiary Designation Form.

How to fill out Beneficiary Designation Form?

To fill out a Beneficiary Designation Form, one must provide personal information, including names, dates of birth, and relationships of the beneficiaries, and also specify the percentage of assets each beneficiary will receive.

What is the purpose of Beneficiary Designation Form?

The purpose of the Beneficiary Designation Form is to ensure that assets are distributed according to the individual's wishes after their death, avoiding probate and legal disputes.

What information must be reported on Beneficiary Designation Form?

The information that must be reported on the Beneficiary Designation Form includes the beneficiary's full name, relationship to the account holder, date of birth, Social Security number, and the percentage of the estate or account to be allocated to each beneficiary.