Get the free Binding non-lapsing nomination of beneficiary form

Binding (nonlapsing) nomination of beneficiary form Issuer: Challenger Retirement and Investment Services Limited ABN 80 115 534 453, ADSL 295642 RSE L0001304 (Trustee) and Challenger Life Company

How to fill out binding non-lapsing nomination of

How to fill out binding non-lapsing nomination of:

1. Begin by obtaining the necessary form: The binding non-lapsing nomination form can usually be obtained from your insurance provider or financial institution. Contact them to request the form or check if it is available for download on their website.
2. Fill in your personal information: Provide your full name, date of birth, address, contact details, and any other relevant information requested on the form. Make sure to double-check the accuracy of the information before proceeding.
3. Nominate beneficiaries: Indicate the individuals or entities you wish to nominate as beneficiaries of your policy. This can include your spouse, children, other family members, or even charitable organizations. Be sure to provide their full names, dates of birth, and relationship to you, if applicable.
4. Specify the percentage or amount: Decide on the allocation of benefits among your nominated beneficiaries. You may choose to assign a certain percentage or specify an exact amount for each beneficiary. Ensure that the total percentage or amount adds up to 100% to avoid any confusion or disputes.
5. Consider contingent beneficiaries: In case any of your primary beneficiaries predecease you or are unable to receive the benefits, you can designate contingent beneficiaries. These individuals will receive the benefits if the primary beneficiaries are unable to do so. Provide their full names, dates of birth, and relationship to you as well.
6. Review and sign the form: Carefully review all the information you have provided on the form. Make any necessary corrections or additions before signing and dating the document. Keep in mind that a binding non-lapsing nomination is a legally binding document, so it is important to understand the implications and seek professional advice if needed.

Who needs binding non-lapsing nomination of:

1. Individuals with life insurance policies: If you have a life insurance policy, it is essential to consider a binding non-lapsing nomination to ensure that the benefits go to the intended beneficiaries in the event of your death.
2. Individuals with significant assets or financial responsibilities: If you have substantial assets, such as properties, investments, or business interests, a binding non-lapsing nomination can help you designate beneficiaries who will inherit these assets smoothly and according to your wishes.
3. Individuals wanting to provide for specific dependents or charitable organizations: A binding non-lapsing nomination allows you to prioritize certain individuals or entities as beneficiaries, ensuring they are taken care of financially after your passing. This can be particularly important if you have dependents with special needs or if you wish to support charitable causes.

Remember, it is important to seek advice from a qualified professional, such as an estate planner or financial advisor, to assist you in ensuring your binding non-lapsing nomination is valid and aligns with your overall estate planning goals.

For pdfFiller’s FAQs

What is binding non-lapsing nomination of?

Binding non-lapsing nomination is a legal document that allows a policyholder to specify who will receive the benefits of their life insurance policy upon their death.

Who is required to file binding non-lapsing nomination of?

Policyholders who have a life insurance policy are required to file a binding non-lapsing nomination to ensure their benefits are distributed according to their wishes.

How to fill out binding non-lapsing nomination of?

To fill out a binding non-lapsing nomination, the policyholder must provide the name and contact information of the nominated beneficiary, along with details of the percentage of benefits each nominated beneficiary should receive.

What is the purpose of binding non-lapsing nomination of?

The purpose of a binding non-lapsing nomination is to ensure that the policyholder's life insurance benefits are distributed according to their wishes, without the need for lengthy legal proceedings.

What information must be reported on binding non-lapsing nomination of?

The binding non-lapsing nomination must include the full name, address, and contact details of the nominated beneficiary, as well as the percentage of benefits they should receive.

How can I send binding non-lapsing nomination of for eSignature?

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