Get the free Beneficiary Designation Form 1B Revised 6/7/2013 Please print or type in black ink -...

Beneficiary Designation Form 1B Revised 6/7/2013 Please print or type in black ink. Completed form should be mailed or faxed to PEERS. See bottom of form for contact information. Member/Retiree Information

How to fill out beneficiary designation form 1b

How to fill out beneficiary designation form 1b:

1. Obtain the form: Start by obtaining the beneficiary designation form 1b from the appropriate source, such as your employer or insurance company.
2. Provide personal information: Fill in your personal information accurately, including your full name, address, date of birth, and contact details. Double-check the information to ensure accuracy.
3. Specify the policy or account: Identify the specific policy or account for which you are designating a beneficiary. This could be a life insurance policy, retirement account, or any other financial asset.
4. Designate primary beneficiary: Clearly state the name, relationship, and contact information of the primary beneficiary who will receive the benefits upon your passing. It is essential to accurately provide the necessary details.
5. Designate contingent beneficiary: If desired, designate a contingent beneficiary who will receive the benefits if the primary beneficiary is unable to receive them. Again, provide the necessary information for the contingent beneficiary.
6. Review and sign: Review all the information you have provided on the form for accuracy and completeness. Sign and date the form, acknowledging that the information provided is true and accurate to the best of your knowledge.
7. Submit the form: Submit the completed beneficiary designation form 1b to the appropriate authority, such as your employer or insurance company. Follow any specific submission instructions provided.
8. Keep a copy: It is crucial to keep a copy of the filled-out beneficiary designation form 1b for your records. This will help in case any discrepancies or issues arise in the future.

Who needs beneficiary designation form 1b:

1. Employees with life insurance coverage: Individuals who have life insurance coverage through their employer may be required to fill out a beneficiary designation form 1b. This ensures that the designated beneficiaries receive the policy's benefits in the event of the employee's passing.
2. Individuals with retirement accounts: Those who have retirement accounts, such as a 401(k) or IRA, may need to complete a beneficiary designation form 1b. This form allows them to designate beneficiaries who will inherit or receive the funds within the retirement account after their death.
3. Policyholders with other financial assets: People who own other financial assets, such as annuities, pensions, or investment accounts, may also be required to fill out a beneficiary designation form 1b. This ensures that their chosen beneficiaries receive the assets upon their demise.

Note: The specific requirements and circumstances may vary depending on the policies and regulations of the employer or insurance company. It is essential to consult the relevant entity or seek professional advice to ensure compliance and accuracy while filling out beneficiary designation form 1b.

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What is beneficiary designation form 1b?

Beneficiary designation form 1b is a form used to designate a beneficiary for assets such as retirement accounts or life insurance policies.

Who is required to file beneficiary designation form 1b?

Individuals who have assets that require a designated beneficiary are required to file beneficiary designation form 1b.

How to fill out beneficiary designation form 1b?

Beneficiary designation form 1b typically requires the individual to provide their personal information, the name of the beneficiary, and the relationship to the beneficiary.

What is the purpose of beneficiary designation form 1b?

The purpose of beneficiary designation form 1b is to ensure that assets are transferred to the designated beneficiary in the event of the individual's death.

What information must be reported on beneficiary designation form 1b?

Beneficiary designation form 1b typically requires personal information of the individual, the name of the beneficiary, and the relationship to the beneficiary.