Get the free Beneficiary Change Form - Catholic Charities - ccstl

BENEFICIARY DESIGNATION www.mutualofamerica.com If you are designating a Trust, you must use Mutual of America s Designation of Trust as Beneficiary Form 6475. (To the Employer: Trust designations

How to fill out beneficiary change form

How to fill out a beneficiary change form?

1. Obtain the beneficiary change form: Contact your insurer, retirement plan provider, or financial institution to request a beneficiary change form. They will provide you with the necessary form or direct you to their website where you can download it.
2. Fill in personal information: Provide your full name, address, date of birth, social security number, and any other required personal information. This will ensure that the form is associated with your account.
3. Indicate the policy or account: Specify the policy or account for which you are making the beneficiary change. This could be a life insurance policy, retirement account, investment account, or any other type of financial instrument that allows for beneficiary designation.
4. Identify current beneficiaries: List the names and relationship to you of the current beneficiaries. This will help the institution identify the individuals or entities that currently have a claim to the proceeds or benefits of the policy or account.
5. Provide new beneficiary details: Clearly indicate the full name, relationship to you, and their contact information of the new beneficiary/beneficiaries. It is essential to provide accurate and up-to-date information to ensure that the benefits are directed correctly.
6. Determine the percentage/amount: Specify the percentage or specific amount you want to allocate to each new beneficiary. Some forms may allow you to designate equal shares, while others may require you to specify exact percentages. Be sure to follow the instructions provided by the institution.
7. Signature and date: Sign and date the beneficiary change form. This confirms that you have completed the form accurately and to the best of your knowledge. Failure to sign the form may invalidate the changes requested.

Who needs a beneficiary change form?

1. Individuals with insurance policies: If you have a life insurance policy, it is crucial to keep your beneficiary designation updated. This ensures that the insurance benefits are directed to the intended recipient(s) after your passing.
2. Retirement plan participants: If you have a retirement account (such as a 401(k), IRA, or pension plan), you should review and update your beneficiary designation periodically. This allows you to designate who will receive the assets in your retirement account upon your death.
3. Account holders with investment accounts: Some investment accounts, such as brokerage accounts or mutual funds, may allow you to designate beneficiaries. Updating this information ensures that your assets are distributed according to your wishes.

In summary, to fill out a beneficiary change form, you need to obtain the form, provide personal information, specify the policy or account, identify current beneficiaries, provide new beneficiary details, determine the percentage or amount, and sign and date the form. Beneficiary change forms are essential for individuals with insurance policies, retirement accounts, and investment accounts. Keeping beneficiary designations up-to-date ensures that the intended recipients receive the benefits or assets upon your passing.

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