Get the free Nomination of Beneficiary Form - Lifeplan

Nomination of Beneficiary Form Life plan TaxMart Investments Life plan Australia Friendly Society Limited ABN 78 087 649 492, AFS License No. 237989 Please PRINT clearly in BLACK pen keeping well

How to fill out nomination of beneficiary form

How to fill out a nomination of beneficiary form:

1. Start by carefully reading the instructions provided on the form. Familiarize yourself with the purpose and requirements of the form.
2. Provide your personal information: Fill out your full name, contact details, and any other information requested about yourself.
3. Identify the plan or policy: Indicate the specific plan or policy for which you are completing the nomination of beneficiary form. This helps ensure that your nomination is correctly applied.
4. Select beneficiary/beneficiaries: Clearly identify and provide the necessary information about the individual(s) or entity you wish to name as your beneficiary/beneficiaries. Include their full name, relationship to you, date of birth, and contact details.
5. Specify the percentage or allocation: If you have multiple beneficiaries, indicate the percentage or allocation of the proceeds that each beneficiary will receive. Ensure the total adds up to 100%.
6. Consider contingent beneficiaries: You may have the option to designate contingent beneficiaries who will receive the proceeds if the primary beneficiaries are unable to. If applicable, provide the necessary information for these individuals as well.
7. Review and double-check: Before submitting the form, carefully review all the information you have provided. Ensure that names, contact details, and other relevant information are accurate and up to date.
8. Add your signature and date: Sign the form at the designated space and include the date of signing. Some forms may require additional witnesses or notarization, so ensure that you follow the specific requirements stated on the form.

Who needs a nomination of beneficiary form:

1. Individuals with life insurance policies: If you have a life insurance policy, it is essential to complete a nomination of beneficiary form to ensure that the death benefit is distributed according to your wishes.
2. Retirement plan participants: Those who have a retirement plan, such as a 401(k) or an IRA, should consider completing a nomination of beneficiary form. This designates who will receive the remaining funds in the event of your passing.
3. Individuals with investment accounts: Some investment accounts may require you to complete a nomination of beneficiary form to specify who will inherit the assets or funds held in the account upon your death.
4. Policyholders with other insurance plans: Apart from life insurance, other insurance policies like health, auto, or homeowner's insurance may provide options for designating beneficiaries in the event of death.
5. Individuals with employee benefits: If your employer offers benefits such as group life insurance, pension plans, or employee stock ownership plans (ESOPs), submitting a nomination of beneficiary form can help ensure the proper distribution of these benefits.

It's crucial to note that the requirements for a nomination of beneficiary form may vary depending on the specific financial institution, insurance company, or plan administrator. Always consult the provided instructions or seek professional guidance to accurately complete the form.

For pdfFiller’s FAQs

What is nomination of beneficiary form?

Nomination of beneficiary form is a document that allows an individual to designate who will receive their benefits or assets in the event of their death.

Who is required to file nomination of beneficiary form?

Individuals who have benefits or assets that they want to allocate to specific beneficiaries upon their death are required to file a nomination of beneficiary form.

How to fill out nomination of beneficiary form?

To fill out a nomination of beneficiary form, one must provide their personal information, details of the intended beneficiaries, and specify the percentage or amount of benefits/assets to be allocated to each beneficiary.

What is the purpose of nomination of beneficiary form?

The purpose of a nomination of beneficiary form is to ensure that the individual's benefits or assets are distributed according to their wishes after their death.

What information must be reported on nomination of beneficiary form?

The nomination of beneficiary form typically requires details such as the individual's name, contact information, the names of beneficiaries, their relationship to the individual, and the percentage or amount of benefits/assets allocated to each beneficiary.

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