Get the free Non-binding Death Benefit Nomination Form - bESSSuperb

CLICK HERE TO SAVE FORM E108 Nonbinding Death Benefit Nomination Form for ESSS Defined Benefit Fund members who may also have an Accumulation Plan account Who should use this form? You should complete

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 insurance provider or superannuation fund. These forms are typically available online or can be requested through customer service.
2. Carefully read through the instructions and guidelines provided with the forms. Make sure you understand the purpose and implications of making a non-binding death benefit nomination.
3. Begin by providing your personal details, including your full name, date of birth, and contact information. It is important to ensure all information is accurate and up to date.
4. Specify the beneficiaries you wish to nominate to receive your death benefit. Include their full names, relationship to you, and their contact details. You may allocate the benefit to multiple individuals or organizations, and specify the percentage or amount each beneficiary should receive.
5. Consider any additional instructions or conditions you would like to attach to your nomination. For example, you might want to state that if a nominated beneficiary predeceases you, their share should be distributed equally among the remaining beneficiaries.
6. Review the completed nomination form carefully to ensure all information is correct. Double-check for any spelling errors or inconsistencies.
7. Sign and date the form in the designated places. Some forms may require witness signatures, so make sure to fulfill any witnessing requirements specified.
8. Keep a copy of the completed form for your own records. Submit the original form to your insurance provider or superannuation fund as instructed. It is recommended to send it via registered mail or hand-deliver it to ensure it reaches the intended recipient.

Who needs a non-binding death benefit nomination?

1. Individuals who have life insurance policies or hold superannuation funds are often advised to consider making a death benefit nomination.
2. Those who want control and clarity over who will receive their death benefit after they pass away might benefit from making a non-binding nomination.
3. It can be especially important for individuals with specific preferences regarding the distribution of their assets or those who have dependents who rely on the death benefit for financial support.

Remember, it is always recommended to consult with a financial advisor or estate planning professional to ensure you fully understand the implications and suitability of making a non-binding death benefit nomination based on your individual circumstances.

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What is non-binding death benefit nomination?

Non-binding death benefit nomination is a form that allows a policyholder to indicate their preferred beneficiaries to receive the death benefit from their life insurance policy, but the insurer is not legally bound to follow this selection.

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

Policyholders who have life insurance policies are required to file a non-binding death benefit nomination.

How to fill out non-binding death benefit nomination?

To fill out a non-binding death benefit nomination, the policyholder must provide their personal information, details of the beneficiaries they wish to designate, and sign the form.

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

The purpose of a non-binding death benefit nomination is to provide guidance to the insurer on who should receive the death benefit from the policy, but it is not legally binding.

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

The non-binding death benefit nomination form typically requires information such as the policyholder's name, policy number, the names and relationships of beneficiaries, and their contact information.