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Washington Counties Insurance Fund Beneficiary Designation/Change Standard Insurance Company This designation will apply to the following Standard Insurance Company coverage(s) if available to you
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What is beneficiary designation and change?
Beneficiary designation and change is the process of naming or updating individuals who will receive assets or benefits upon the death of the account holder or policy owner.
Who is required to file beneficiary designation and change?
Account holders, policy owners, or individuals with specific assets that have designated beneficiaries are required to file beneficiary designation and change forms.
How to fill out beneficiary designation and change?
Beneficiary designation and change forms can typically be filled out online or through the company or institution holding the assets. It usually requires providing the full legal name, contact information, relationship to the account holder, and percentage allocation of benefits.
What is the purpose of beneficiary designation and change?
The purpose of beneficiary designation and change is to ensure that assets or benefits are distributed according to the account holder's wishes and to avoid potential disputes among family members or beneficiaries.
What information must be reported on beneficiary designation and change?
The required information usually includes the full legal name, contact information, relationship to the account holder, and the percentage allocation of benefits for each designated beneficiary.
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