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BENEFICIARY DESIGNATION FORM Life Insurance Company of North America CHINA Group Insurance Life Accident Disability Employer Name Employee Name Current Address Home Phone Classes Communications City

How to fill out life insurance beneficiary designation

How to fill out life insurance beneficiary designation:

1. Start by obtaining the necessary forms from your life insurance provider. This may involve requesting them online, by phone, or through mail.
2. Carefully review the beneficiary designation form to understand the information required. It typically includes details such as the beneficiary's name, relationship to the policyholder, contact information, and the percentage or allocation of the death benefit they will receive.
3. Begin filling out the form by providing the policyholder's personal information, such as their name, address, and policy number.
4. Clearly enter the beneficiary's complete name, ensuring accuracy to avoid any potential issues in the future.
5. Specify the relationship between the policyholder and the beneficiary. Common options may include spouse, child, parent, sibling, or friend.
6. Include the contact details of the beneficiary, including their address, phone number, and email address if applicable.
7. Determine the allocation of the death benefit among multiple beneficiaries, if applicable. Indicate the percentage or specific amount each named beneficiary will receive. In some cases, policyholders may choose to name contingent beneficiaries who would receive the benefit if the primary beneficiaries are unable to.
8. Review the completed form for any errors or missing information. Ensure all fields are accurately filled out, and consider seeking assistance or guidance from the insurance provider if needed.
9. Once satisfied with the information provided, sign and date the beneficiary designation form.
10. Keep a copy of the completed form for your records and submit the original to your life insurance provider.

Who needs life insurance beneficiary designation?

1. Anyone who has a life insurance policy should consider designating beneficiaries. It ensures that the death benefit is paid out to the intended individuals or entities.
2. Policyholders who have dependents, such as a spouse, children, or elderly parents, often prioritize designating beneficiaries to provide financial support to their loved ones after death.
3. Individuals who want to leave a legacy or make specific financial arrangements for their designated beneficiaries may choose to have a beneficiary designation.
4. Those who want to avoid potential conflicts or disputes regarding the distribution of their life insurance proceeds should designate beneficiaries.
5. It is important for policyholders to review and update their beneficiary designation periodically to reflect any changes in their personal circumstances, such as marriage, divorce, birth of a child, or the passing away of a beneficiary.

Remember, it's crucial to consult with a financial or legal professional for personalized advice regarding life insurance beneficiary designation.

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