Get the free Non-binding death benefit nomination - First State Super

Nonbinding death benefit nomination Use this form if you want to make a new nonbinding death benefit nomination. This nomination does not apply to any income stream account that you may set up with

How to fill out non-binding death benefit nomination

How to fill out a non-binding death benefit nomination:

1. Start by obtaining the necessary forms from your superannuation fund or insurance provider. These forms may be available on their website or you can request a physical copy.
2. Begin by providing your personal information, including your full name, date of birth, and contact details. Make sure to accurately fill in all the required fields.
3. Next, you will need to nominate the beneficiaries who will receive your death benefit in the event of your passing. Include their full names, dates of birth, and their relationship to you. You may also need to specify the percentage or amount of the benefit they will receive.
4. It is important to review and understand the terms and conditions of the death benefit nomination. Take note of any restrictions or limitations that may apply, such as age restrictions for beneficiaries or restrictions on certain types of payouts.
5. If you have multiple superannuation funds or insurance policies, ensure that you update your non-binding death benefit nomination with each provider separately. This ensures that your wishes are accurately reflected in all your accounts.
6. Once you have completed the nomination form, sign and date it in the designated areas. Some forms may require witness signatures, so ensure you follow the instructions provided.

Who needs non-binding death benefit nomination?

1. Anyone with a superannuation fund or an insurance policy that offers death benefits should consider filling out a non-binding death benefit nomination. This allows you to have control over who receives your death benefit and in what proportions.
2. Individuals who want to ensure their loved ones are taken care of financially in the event of their death should consider a non-binding death benefit nomination. This can provide peace of mind and help avoid potential disputes or delays in the distribution of the death benefit.
3. Those with specific wishes for their death benefit, such as distributing it to certain family members, friends, or charities, can express their preferences through a non-binding nomination.

Remember, it is important to regularly review and update your non-binding death benefit nomination as circumstances change, such as marriage, divorce, or the birth of children. It is advisable to seek professional advice from a financial planner or legal expert to ensure your nomination aligns with your overall estate planning goals.

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What is non-binding death benefit nomination?

Non-binding death benefit nomination is a document that designates who will receive the death benefits of a life insurance policy. The nomination is not legally binding and the policyholder can change it at any time.

Who is required to file non-binding death benefit nomination?

Policyholders who have a life insurance policy are required to file a non-binding death benefit nomination to designate who will receive the death benefits.

How to fill out non-binding death benefit nomination?

To fill out a non-binding death benefit nomination, the policyholder must provide the names and contact information of the beneficiaries they wish to receive the death benefits. The form must be signed and dated.

What is the purpose of non-binding death benefit nomination?

The purpose of a non-binding death benefit nomination is to ensure that the policyholder's wishes are carried out regarding the distribution of death benefits from their life insurance policy.

What information must be reported on non-binding death benefit nomination?

The non-binding death benefit nomination must include the names and contact information of the beneficiaries, as well as the percentage of the death benefits they are to receive.