Get the free Beneficiary Designation Form - eiboflicom

I.B.E.W. Local 25 Health & Benefit Fund BENEFICIARY DESIGNATION FORM (please print) Employees Name SS# Address

How to fill out beneficiary designation form

How to fill out a beneficiary designation form:

1. Obtain the beneficiary designation form: Contact the appropriate institution or organization that manages the policy or account for which you want to designate a beneficiary. They will provide you with the necessary form.
2. Provide personal information: Fill in your full name, address, phone number, and any other requested personal details. This ensures that your identification is correctly linked to the policy or account.
3. Specify the policy/account details: Include the policy or account number and the type of policy or account for which you are designating a beneficiary. This helps avoid any confusion or errors when processing the designation.
4. Select primary beneficiary: Indicate the primary beneficiary by providing their full name, relationship to you, and their contact information. This is the person who will receive the proceeds in the event of your death.
5. Choose contingent beneficiary: If desired, designate a contingent beneficiary who will receive the proceeds if the primary beneficiary is unable to fulfill their role. Provide the contingent beneficiary's full name, relationship, and contact information.
6. Determine the percentage allocation: If you wish to divide the proceeds among multiple beneficiaries, specify the percentage allocation for each individual. Ensure the total adds up to 100%.
7. Review and sign: Carefully review all the information provided on the form to ensure accuracy. Sign and date the form where required.
8. Notify the beneficiaries: Inform the primary and contingent beneficiaries about their designation, providing them with any necessary details. This ensures they are aware of their potential involvement in the policy or account.

Who needs a beneficiary designation form:

1. Life insurance policyholders: Individuals who own a life insurance policy often need to complete a beneficiary designation form to specify who will receive the policy's death benefit.
2. Retirement account holders: People with retirement accounts like IRAs (Individual Retirement Accounts) or 401(k)s may need to designate beneficiaries who will inherit the funds in the account upon the account holder's death.
3. Investment account holders: Some investment accounts, such as brokerage or mutual fund accounts, may require beneficiary designation forms to determine who will inherit the account's assets.
4. Pension plan participants: Individuals who are vested in a pension plan may need to complete a beneficiary designation form to identify who will receive any remaining pension benefits upon their passing.
5. Bank or credit union account holders: Certain financial institutions may require beneficiary designation forms for accounts like savings accounts or certificates of deposit (CDs) to determine who will inherit the funds in the account.
6. Employee benefit plan participants: People who participate in employer-sponsored benefit plans, such as group life insurance or employee stock ownership plans (ESOPs), may need to designate beneficiaries in case of their death.
7. Trust creators: Those who establish a trust may need to designate beneficiaries through a beneficiary designation form, ensuring that the trust assets are distributed according to their wishes.

Note: The need for a beneficiary designation form may vary depending on the specific policies and regulations of each institution or organization. It is always advisable to consult with the relevant institution or seek professional advice when completing the form.

For pdfFiller’s FAQs

Where do I find beneficiary designation form?

The premium pdfFiller subscription gives you access to over 25M fillable templates that you can download, fill out, print, and sign. The library has state-specific beneficiary designation form and other forms. Find the template you need and change it using powerful tools.

How do I edit beneficiary designation form online?

The editing procedure is simple with pdfFiller. Open your beneficiary designation form in the editor, which is quite user-friendly. You may use it to blackout, redact, write, and erase text, add photos, draw arrows and lines, set sticky notes and text boxes, and much more.

Can I create an eSignature for the beneficiary designation form in Gmail?

You can easily create your eSignature with pdfFiller and then eSign your beneficiary designation form directly from your inbox with the help of pdfFiller’s add-on for Gmail. Please note that you must register for an account in order to save your signatures and signed documents.

What is beneficiary designation form?

A beneficiary designation form is a legal document that allows a person to designate who will receive their assets or benefits upon their death.

Who is required to file beneficiary designation form?

Individuals who have assets or benefits that require designation of a beneficiary are required to file a beneficiary designation form.

How to fill out beneficiary designation form?

To fill out a beneficiary designation form, one must provide their personal information, the details of the assets or benefits being designated, and the name and contact information 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 distributed according to their wishes upon their death.

What information must be reported on beneficiary designation form?

The beneficiary designation form must include the individual's personal information, details of the assets or benefits being designated, and the name and contact information of the designated beneficiary.