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B3AKAJ Essential Super Nonlapsing Death Benefit Nomination Form Please refer to the Frequently asked questions for guidance on how to complete this form. Alterations to your form must be initialed

How to fill out non-lapsing death benefit nomination

How to fill out non-lapsing death benefit nomination:

1. Obtain the necessary forms: Contact your insurance provider or financial institution to request the non-lapsing death benefit nomination form. They may also have the form available for download on their website.
2. Provide personal details: Fill in your name, address, contact information, and any other requested personal details on the form. Be sure to double-check for accuracy.
3. Nominate your beneficiary/beneficiaries: Indicate the individuals or entities you wish to designate as beneficiaries for the death benefit. Provide their full names, relationship to you, and their contact details. If you have multiple beneficiaries, specify the percentage or portion of the death benefit each should receive.
4. Choose the non-lapsing option: If your insurance provider or financial institution offers a non-lapsing option, check the appropriate box on the form. This will prevent your death benefit from being forfeited or lapsing if your designated beneficiary/beneficiaries predecease you.
5. Sign and date the form: Once you have completed all the required sections, sign and date the form to make it legally binding. Some institutions may require witnesses or a notary public to witness your signature.
6. Submit the form: Return the completed form to your insurance provider or financial institution as per their instructions. Keep a copy for your records.

Who needs non-lapsing death benefit nomination?

1. Individuals with life insurance policies or retirement accounts: If you have a life insurance policy or retirement account with a death benefit, it is advisable to consider a non-lapsing death benefit nomination. This ensures that your intended beneficiaries will still receive the death benefit even if the originally designated beneficiaries are no longer living.
2. Those who want to protect their intended beneficiaries: Without a non-lapsing nomination, if your designated beneficiaries pass away before you do, the death benefit may be distributed according to default rules or to your estate. By making a non-lapsing nomination, you have more control over who receives the death benefit.
3. Individuals who value estate planning: Non-lapsing death benefit nomination can be a valuable tool in estate planning as it allows you to pass on your assets according to your wishes and minimize potential complexities or conflicts that may arise from default distribution.

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