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Irrevocable Designation of Beneficiary Aetna Life Insurance CompuGroup Contract HolderUnited NationsGroup Contract(s) Number(s)United NationsGL14008 / GC14008Name of Person Insureds Social Security

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How to fill out irrevocable designation of beneficiary:

1. Obtain the necessary form: Start by acquiring the specific form for the irrevocable designation of beneficiary. This form can usually be obtained from the institution or organization managing the assets or insurance policy in question. Alternatively, you may find the form online, on the institution's website.
2. Provide personal information: Begin by filling in your personal information, including your full name, address, date of birth, and contact details. This information helps identify you as the policy or account owner.
3. Identify the policy or account: Next, provide the details of the specific policy or account for which you are designating a beneficiary. This often includes the account number, policy number, or any other relevant identifiers. Double-check this information to ensure accuracy.
4. Name the primary beneficiary: Indicate the primary beneficiary of the policy or account. This person is the individual or entity who will receive the benefits if you pass away. Include their full name, relationship to you, and their contact information.
5. Specify contingent beneficiaries: In case the primary beneficiary predeceases you or is unable to receive the benefits, you should name one or more contingent beneficiaries. These individuals or entities will only receive the benefits if the primary beneficiary cannot. Provide the same details as mentioned above for each contingent beneficiary.
6. Consider any special instructions or restrictions: If there are any specific instructions or restrictions you wish to impose on the distribution of the benefits, provide them in this section. For example, you may want to specify the percentage each beneficiary should receive or any conditions they must meet.
7. Date and sign the form: Once you have completed all relevant sections, sign and date the irrevocable designation of beneficiary form. By signing, you acknowledge that the information provided is accurate, and you understand the consequences of designating beneficiaries in an irrevocable manner.

Who needs irrevocable designation of beneficiary:

1. Individuals with life insurance policies: Those who own life insurance policies and want to ensure that the benefits go to specific beneficiaries upon their death may need an irrevocable designation of beneficiary form.
2. Account holders with large financial balances: People with significant amounts of money held in bank accounts, investment accounts, or retirement accounts may also consider an irrevocable designation of beneficiary. This helps secure the distribution of the assets to specific individuals or organizations as intended.
3. Estate planning individuals: Those engaged in estate planning may opt for an irrevocable designation of beneficiary to solidify their desired distribution of assets among their heirs and beneficiaries. This enables them to have greater control over the legacy they leave behind.

Note: It is advisable to consult with a legal or financial professional when completing an irrevocable designation of beneficiary form, as they can provide specific guidance tailored to your unique circumstances and ensure that the form aligns with your overall estate plan.

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What is irrevocable designation of beneficiary?

An irrevocable designation of beneficiary is a legal document that states who will receive the benefits of a life insurance policy or retirement account upon the death of the policyholder or account holder.

Who is required to file irrevocable designation of beneficiary?

The policyholder or account holder is required to file an irrevocable designation of beneficiary.

How to fill out irrevocable designation of beneficiary?

To fill out an irrevocable designation of beneficiary, the policyholder or account holder must include the name and relationship of the beneficiary, as well as any relevant identifying information.

What is the purpose of irrevocable designation of beneficiary?

The purpose of an irrevocable designation of beneficiary is to ensure that the benefits of a life insurance policy or retirement account are distributed according to the policyholder or account holder's wishes.

What information must be reported on irrevocable designation of beneficiary?

The irrevocable designation of beneficiary must include the name, relationship, and identifying information of the beneficiary, as well as any specific instructions for the distribution of benefits.