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Ohio Police & Fire Pension Fund 140 East Town Street Columbus, OH 43215 Phone: 18888648363 Fax: (614) 6281777 www.opf.org DESIGNATION OF CONTINGENT BENEFICIARY (for Retirement Survivor Annuity) Complete

How to fill out designation of contingent beneficiary

How to fill out designation of contingent beneficiary:

1. Obtain the necessary forms: Start by contacting the relevant institution or insurance provider to request the designation of contingent beneficiary forms. These forms can usually be obtained online or through a physical copy.
2. Provide personal information: Fill in your personal information as the primary policyholder or account holder. This may include your full name, address, date of birth, and any identifying numbers or account information.
3. Choose your primary beneficiary: Identify and provide the necessary details of the primary beneficiary. This individual will receive the benefits if they survive you or become the primary beneficiary upon your death.
4. Identify the contingent beneficiary: Specify who should receive the benefits if the primary beneficiary is unable or unwilling to do so. Provide the contingent beneficiary's full name, address, and any additional information required.
5. Consider alternate contingent beneficiaries: If desired, include additional contingent beneficiaries to ensure the benefits are passed on according to your wishes. Provide their information in the designated sections.
6. Review and sign the form: Carefully review all the information you have provided to ensure accuracy. Once satisfied, sign and date the form in the appropriate spaces.
7. Submit the form: Return the completed form to the institution or insurance provider as instructed. Keep a copy for your records.

Who needs a designation of contingent beneficiary?

1. Life insurance policyholders: Individuals who have life insurance policies can benefit from designating a contingent beneficiary. This ensures that their loved ones are financially protected even if the primary beneficiary is unable to fulfill their role.
2. Retirement account holders: Those who hold retirement accounts, such as IRAs or 401(k)s, should consider designating contingent beneficiaries. This helps ensure a smooth transfer of assets in case the primary beneficiary is no longer able to receive them.
3. Trust creators: People who establish trusts may want to name contingent beneficiaries to ensure their assets are distributed according to their intended plan in case the primary beneficiary cannot or chooses not to accept the benefits.

Remember, the specific requirements for a designation of contingent beneficiary may vary depending on the institution or insurance provider, so it's important to follow their instructions and consult with a professional if needed.

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What is designation of contingent beneficiary?

The designation of contingent beneficiary is a document that allows a policyholder to name a secondary beneficiary who will receive the proceeds of a life insurance policy if the primary beneficiary dies before the policyholder.

Who is required to file designation of contingent beneficiary?

The policyholder or owner of a life insurance policy is required to file a designation of contingent beneficiary.

How to fill out designation of contingent beneficiary?

To fill out a designation of contingent beneficiary, the policyholder must provide the name, relationship, and contact information of the contingent beneficiary.

What is the purpose of designation of contingent beneficiary?

The purpose of designation of contingent beneficiary is to ensure that the policyholder's assets are distributed according to their wishes in the event of the primary beneficiary's death.

What information must be reported on designation of contingent beneficiary?

The designation of contingent beneficiary must include the name, relationship, and contact information of the contingent beneficiary.