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Reset Change of Beneficiary Name of Owner Name of Insured Policy No. Telephone No. Any new beneficiary designation automatically cancels any prior primary and contingent beneficiary designation. Date

How to fill out any new beneficiary designation

How to fill out any new beneficiary designation:

1. Gather the necessary documents: You will need the beneficiary designation form provided by the organization or institution, as well as any relevant personal identification documents such as a passport or driver's license.
2. Read and understand the instructions: Carefully review the instructions provided with the beneficiary designation form. Make sure you understand the process and requirements before proceeding.
3. Provide your personal information: Fill in your personal information accurately, including your full name, contact details, and any other required details such as social security number or account number.
4. Determine the type of beneficiary designation: Identify the type of beneficiary designation you need to fill out. This could include life insurance policy beneficiaries, retirement account beneficiaries, or other types of assets with designated beneficiaries.
5. Decide on primary and contingent beneficiaries: Determine who will be your primary beneficiary, the person or entity who will receive the asset upon your passing. You may also have contingent beneficiaries, who will inherit the asset if the primary beneficiary is unable or unwilling to do so.
6. Provide beneficiary information: Fill in the necessary details for each beneficiary, including their full name, contact information, and their relationship to you. Ensure the information is accurate to avoid any confusion or potential disputes.
7. Specify the percentage or allocation: If applicable, indicate the percentage or allocation of the asset that each beneficiary will receive. This is important if you have multiple beneficiaries or if you want to distribute the asset in specific proportions.
8. Review and double-check the information: Carefully go through the filled-out beneficiary designation form, ensuring all the details are accurate and complete. Make any necessary corrections or additions before proceeding.
9. Sign and date the form: Once you are satisfied with the information provided, sign and date the beneficiary designation form. Follow any additional instructions provided regarding witness signatures or notarization, if required.

Who needs any new beneficiary designation:

1. Individuals with life insurance policies: If you have a life insurance policy, you may consider designating a new beneficiary to ensure your desired recipient receives the benefits upon your passing.
2. Retirement account holders: Those who have retirement accounts such as 401(k), IRA, or pension plans should review and update their beneficiary designations periodically. This ensures that the intended beneficiaries receive the assets as per their wishes.
3. Policyholders with insurance policies: People who hold insurance policies, such as health insurance or disability insurance, may need to update their beneficiary designations to reflect any changes in their circumstances or preferences.
4. Owners of investment or financial accounts: If you have investment accounts, bank accounts, or any other financial accounts, it is advisable to periodically review and update your beneficiary designations to ensure your assets are distributed according to your wishes.
5. Any individual with significant assets or properties: Regardless of specific circumstances, anyone with significant assets or properties should consider reviewing and updating their beneficiary designations to avoid potential conflicts and ensure a smooth transfer of assets upon their passing.

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