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The Lincoln National Life Insurance Company, PO Box 2649, Omaha, NE 681032649 toll-free (800) 4232765 Fax (800) 4624660 www.LincolnFinancial.com BENEFICIARY DESIGNATION FORM Policyholder/Employer

How to fill out beneficiary designation form

How to fill out a beneficiary designation form?

1. Begin by carefully reading the instructions provided on the form. Make sure you understand the purpose of the form and the information required.
2. Locate the necessary personal information such as your full name, date of birth, and contact information. Provide this information accurately in the designated sections of the form.
3. Identify the primary beneficiary or beneficiaries. These are the individuals who will receive the benefits upon your passing. Specify their full names, relationships to you, and their contact details.
4. Consider designating contingent beneficiaries. These are individuals who will receive the benefits if the primary beneficiary is unable to. Provide their complete information as well.
5. Determine the percentage or allocation of benefits you wish to assign to each beneficiary. This is important if you have multiple beneficiaries. Clearly state the percentage or amount they should receive.
6. Review the form for any additional information or sections that need to be completed. Make sure you have answered all required questions and provided all necessary details.
7. Carefully review all the information you have provided on the form. Ensure that all names, dates, and other details are accurate and spelled correctly.
8. Sign and date the form. Pay attention to any witnesses or notary requirements if mentioned.

Who needs a beneficiary designation form?

1. Individuals with retirement accounts: If you have a 401(k), IRA, or other retirement accounts, it is essential to complete a beneficiary designation form. This ensures that your desired beneficiaries receive the assets in the account upon your death.
2. Life insurance policyholders: If you have a life insurance policy, completing a beneficiary designation form is crucial. This form determines who will receive the insurance proceeds after your passing.
3. Individuals with investment accounts: Many investment companies require beneficiaries to be designated on their accounts. This helps determine who will inherit the investments if the account owner passes away.
4. Pension plan participants: If you have a pension plan through your employer, it is likely you will need to complete a beneficiary designation form. This allows you to specify who will receive the pension benefits posthumously.
5. Trust creators: If you have established a trust, it is important to designate beneficiaries through a form. This ensures that the trust assets are distributed according to your wishes.

Remember, it's always wise to consult with a legal or financial professional to ensure you understand the requirements and implications of completing a beneficiary designation form.

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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?

Any individual who has assets or benefits that can be passed on to a beneficiary is required to file a beneficiary designation form.

How to fill out beneficiary designation form?

Beneficiary designation forms can typically be obtained from financial institutions or insurance companies. The individual must fill out the form with their personal information and the details of the designated beneficiary.

What is the purpose of beneficiary designation form?

The purpose of a beneficiary designation form is to ensure that an individual's assets or benefits are passed on to the intended recipient upon their death.

What information must be reported on beneficiary designation form?

The beneficiary designation form typically requires the individual to provide their personal information, such as their name, address, and relationship to the beneficiary. They must also specify the percentage of assets or benefits that each beneficiary will receive.