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KENT COMPANIES, INC. GROUP LIFE INSURANCE BENEFICIARY DESIGNATION Employee Name (print) Primary Beneficiary

How to fill out group life insurance beneficiary

Point 1: Gather necessary information

1. Start by collecting important details such as your full name, date of birth, and contact information.
2. Also, make sure to have accurate information about the group life insurance policy, including the policy number, employer's name, and any specific instructions or requirements.

Point 2: Understand the beneficiary designation options

Familiarize yourself with the different types of beneficiary designations available. There are typically two common options:

1. Primary beneficiary: This is the person(s) who will receive the benefits in the event of your death.
2. Contingent beneficiary: This is the backup beneficiary if the primary beneficiary is unable to receive the benefits.

Point 3: Determine your beneficiaries

1. Carefully consider who you want to designate as your primary and contingent beneficiaries.
2. You may choose individuals such as family members, friends, or charitable organizations. Ensure you have their full names, contact information, and relationships to you.

Point 4: Specify the beneficiary percentages

1. If you have more than one primary beneficiary, decide how you want to allocate the benefit amounts among them. For example, you may assign percentages like 50% to one person and 50% to another.
2. Ensure the total percentages assigned to primary beneficiaries add up to 100%.

Point 5: Consider special circumstances

1. If you have minor children, consider setting up a trust or designating a guardian to handle the benefits on their behalf until they reach a certain age or maturity.
2. In the case of contingent beneficiaries, think about any alternate beneficiaries if the original ones are unable to receive the benefits.

Point 6: Fill out the beneficiary form

1. Obtain the group life insurance beneficiary form from your employer or insurance provider.
2. Clearly and accurately provide all the required information, including the beneficiaries' names, addresses, social security numbers, and their relationship to you.
3. Indicate the percentages or amount of the benefit each primary beneficiary should receive. Add any contingent beneficiaries as well.

Who needs group life insurance beneficiary?

1. Anyone who has a group life insurance policy through their employer should consider designating a beneficiary.
2. It is especially important for individuals with dependents or loved ones who rely on their income for financial support.
3. By designating a beneficiary, you ensure that your loved ones are taken care of financially in the event of your death, providing them with a financial safety net.

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What is group life insurance beneficiary?

Group life insurance beneficiary is a person designated to receive the benefits of a group life insurance policy in the event of the policyholder's death.

Who is required to file group life insurance beneficiary?

The policyholder is required to designate a group life insurance beneficiary.

How to fill out group life insurance beneficiary?

To fill out the group life insurance beneficiary, the policyholder needs to provide the beneficiary's name, relationship to the policyholder, and contact information.

What is the purpose of group life insurance beneficiary?

The purpose of group life insurance beneficiary is to ensure that the death benefits from the policy are paid out to the designated individual or individuals.

What information must be reported on group life insurance beneficiary?

The information reported on group life insurance beneficiary includes the beneficiary's full name, relationship to the policyholder, date of birth, and contact information.