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BENEFICIARY DESIGNATION FORM FOR GROUP LIFE AND GROUP ACCIDENT INSURANCE UNM Life Insurance Company of America Provident Life and Accident Insurance Company The Paul Revere Insurance Company Please

How to fill out beneficiary designation form for

How to fill out a beneficiary designation form:

1. Start by reviewing the instructions: Carefully read and understand the instructions provided with the beneficiary designation form. This will give you a clear understanding of what information is required.
2. Provide personal information: Begin by filling out your personal information accurately. This may include your full name, date of birth, social security number, and contact details.
3. Choose beneficiaries: Determine the individuals or organizations you want to designate as beneficiaries. This could be your spouse, children, siblings, or any other person or institution. Make sure to include their full names, contact details, and their relationship to you.
4. Specify the percentage or share: Indicate the percentage or share you want each beneficiary to receive. This step is crucial if you have multiple beneficiaries. Ensure the total adds up to 100%.
5. Consider contingent beneficiaries: If desired, include contingent beneficiaries who would inherit the assets in case the primary beneficiaries are unable to do so. Provide their information similarly to the primary beneficiaries.
6. Consult legal advice if necessary: If you have complex assets or unique circumstances, it may be wise to consult an attorney or financial advisor for guidance. They can ensure that your beneficiary designation aligns with your overall estate plan.

Who needs a beneficiary designation form:

1. Life insurance holders: If you have a life insurance policy, you will likely need to designate beneficiaries who will receive the death benefit upon your passing.
2. Retirement account owners: Individuals who have retirement accounts, such as 401(k)s or IRAs, must designate beneficiaries to receive the account's funds after their death.
3. Estate planning: Beneficiary designation forms play a crucial role in estate planning. If you have assets like bank accounts, investments, or real estate, you can ensure a smooth transfer of these assets to your chosen beneficiaries by completing these forms.

In summary, filling out a beneficiary designation form involves understanding the instructions, providing personal information, selecting beneficiaries and their respective shares, considering contingent beneficiaries, and seeking professional advice if necessary. It is necessary for individuals with life insurance policies, retirement accounts, or assets subject to estate planning.

For pdfFiller’s FAQs

What is beneficiary designation form for?

The beneficiary designation form is used to specify who will receive certain benefits or assets upon the death of the policyholder or account holder.

Who is required to file beneficiary designation form for?

Anyone who has a retirement account, life insurance policy, or other financial account that allows for a designated beneficiary to receive the assets upon the account holder's death is required to file a beneficiary designation form.

How to fill out beneficiary designation form for?

To fill out a beneficiary designation form, one must provide their personal information, as well as the information of the designated beneficiary. It is important to review and update this form regularly to ensure it reflects the account holder's current wishes.

What is the purpose of beneficiary designation form for?

The purpose of the beneficiary designation form is to ensure that the assets in the account are distributed according to the account holder's wishes upon their death.

What information must be reported on beneficiary designation form for?

The beneficiary designation form typically requires information such as the full name, date of birth, relationship to the account holder, and percentage of the assets each beneficiary should receive.

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