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Change of Beneficiary Servicing Office PO Box 7882 Fort Wayne IN 468017882 Fax Number 260 4556310 www.LincolnRetirement.com Contract Information Overnight Address: Lincoln Financial Group Policy Change

How to fill out change of beneficiary

How to Fill out Change of Beneficiary:

1. Obtain the necessary forms: Begin by obtaining the appropriate change of beneficiary forms from your insurance company, retirement plan, or any other entity where you need to make changes to your beneficiaries. These forms are typically available online or can be requested from the company directly.
2. Review the current beneficiary information: Before making any changes, carefully review the existing beneficiary information on your policy or plan. This will help ensure accuracy and prevent any mistakes or oversights.
3. Provide personal information: Fill out the personal information section of the form, including your name, address, date of birth, and social security number or identification number. Make sure to use your legal name and provide accurate contact details.
4. Identify the policy or plan: Indicate the specific insurance policy or retirement plan account to which you are making changes. This can usually be done by entering the policy number or account identifier.
5. Choose the type of change: Determine the type of change you wish to make. For example, you might want to add, remove, or update beneficiaries. Follow the instructions provided to select the desired change.
6. Provide beneficiary details: For each beneficiary, enter their full name, relationship to you, date of birth, and social security number. Ensure that all information is accurate and up to date. If you wish to allocate specific percentages or portions of the benefit to each beneficiary, provide the necessary instructions as well.
7. Consider contingent beneficiaries: If applicable, consider adding contingent beneficiaries. These individuals would receive the benefits if the primary beneficiaries predecease you or are unable to claim the benefits for any reason. Provide the necessary details for contingent beneficiaries, just as you did for primary beneficiaries.
8. Sign and date the form: Once you have completed all sections and reviewed the information for accuracy, sign and date the change of beneficiary form. Some forms may require a witness or notary, so be sure to follow the specific instructions provided by your insurance company or plan administrator.

Who Needs Change of Beneficiary:

1. Individuals with life insurance policies: If you have a life insurance policy, you may want to consider changing your beneficiaries due to various life events such as marriage, divorce, the birth of a child, or the passing of a loved one. Ensuring that the beneficiaries on your policy align with your current wishes and circumstances is important.
2. Employees with retirement plans: If you have a retirement plan, such as a 401(k) or IRA, it is crucial to review and update your beneficiaries regularly. This helps ensure that your retirement savings are distributed according to your wishes and to the individuals or organizations you desire.
3. Individuals with other financial accounts or assets: In addition to life insurance and retirement plans, individuals with other financial accounts or assets, such as bank accounts, investment accounts, or real estate properties, may need to update their beneficiaries. It is important to periodically review and update beneficiary designations to reflect any changes in personal circumstances or relationships.

Remember, it is advisable to consult with a financial advisor or attorney if you have any questions or concerns when filling out a change of beneficiary form. They can provide guidance specific to your situation and help ensure that your wishes are accurately documented.

For pdfFiller’s FAQs

What is change of beneficiary?

A change of beneficiary is when the designated recipient of assets from a trust, insurance policy, or retirement account is updated.

Who is required to file change of beneficiary?

The policyholder or account holder is required to file a change of beneficiary.

How to fill out change of beneficiary?

To fill out a change of beneficiary, the policyholder must complete a form provided by the financial institution or insurance company, indicating the new beneficiary.

What is the purpose of change of beneficiary?

The purpose of a change of beneficiary is to ensure that assets are distributed according to the policyholder's current wishes.

What information must be reported on change of beneficiary?

The change of beneficiary form typically requires the policyholder to provide the name, date of birth, and relationship to the beneficiary.

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