Get the free Change of Beneficiary Form Instructions - Eagle Life Insurance

INSURANCE COMPANY Soar Higher Eagle Life Insurance Company P.O. Box 71279 Des Moines, Iowa 503250279 Telephone: (866× 5260995 www.eaglelifeco.com Fax: (515× 4571911 Change of Beneficiary Form Instructions

How to fill out change of beneficiary form

How to fill out a change of beneficiary form:

1. Begin by obtaining the change of beneficiary form from the relevant institution or organization. This form may be provided by an insurance company, pension plan administrator, or other similar entities.
2. Carefully read through the instructions and requirements provided on the form. Make sure you understand the purpose of the form and the specific sections that need to be completed.
3. Start by filling out your personal information at the top of the form. This typically includes your full name, address, social security number, and any other identification details requested.
4. Identify the existing beneficiary information that needs to be changed. This may involve providing the name, relationship, and contact details of the current beneficiary.
5. Clearly state the new beneficiary information that will replace the existing one. Include the full name, relationship, and contact details of the new beneficiary. If there are multiple beneficiaries, make sure to provide all their details.
6. Specify the percentage or allocation of benefits that each new beneficiary should receive. This demonstrates how the benefits will be divided among the designated individuals.
7. Review the form thoroughly to ensure all the information provided is accurate and complete. Double-check spellings, contact details, and beneficiary information to avoid any potential errors.
8. If required, remember to sign and date the form to signify your consent and understanding of the changes being made.
9. Make a copy of the completed form for your records before submitting it to the appropriate institution or organization. It is advisable to send the form via certified mail or deliver it in person to ensure it is received safely.
10. Keep track of the submission and follow up with the institution or organization if you haven't received confirmation of the changes within a reasonable timeframe.

Who needs a change of beneficiary form:

1. Individuals with life insurance policies often need a change of beneficiary form to update or modify the designated beneficiaries. This ensures that the benefits are directed to the intended parties upon the policyholder's death.
2. Retirement plan participants, such as those with 401(k) or pension plans, may require a change of beneficiary form to update their chosen beneficiaries. This allows them to allocate their retirement savings to specific individuals or entities.
3. Estate planning purposes may necessitate a change of beneficiary form for assets such as trusts, annuities, or investment accounts. Regularly reviewing and updating beneficiaries can help ensure that your assets are distributed according to your wishes.
4. Divorced individuals may need to update their beneficiary designations after a divorce to remove their former spouse as a beneficiary. Failing to do so might result in unintended distribution of assets.
5. In some cases, individuals may want to change their designated beneficiaries due to a change in personal circumstances, such as the birth of a child, the death of a beneficiary, or changes in relationships.

Remember to consult with a legal professional or financial advisor if you have any specific questions or concerns regarding the completion of a change of beneficiary form.

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What is change of beneficiary form?

A change of beneficiary form is a legal document used to update or replace the designated beneficiary of a life insurance policy or retirement account.

Who is required to file change of beneficiary form?

The policy or account holder is required to file a change of beneficiary form if they wish to update their designated beneficiary.

How to fill out change of beneficiary form?

To fill out a change of beneficiary form, the policy or account holder must provide their personal details, the details of the current beneficiary, and the details of the new beneficiary.

What is the purpose of change of beneficiary form?

The purpose of a change of beneficiary form is to ensure that the proceeds of the policy or account are distributed according to the policyholder's wishes.

What information must be reported on change of beneficiary form?

The change of beneficiary form must include the policy or account holder's name, policy or account number, the name and contact information of the current beneficiary, and the name and contact information of the new beneficiary.