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BENEFICIARY DESIGNATION FORM Life Insurance Company of North America Employer Name People's Place II, Inc. Employee Name Current Address Home Phone City Work Phone Employee Social Security # State

How to fill out primary and contingent beneficiaries

How to fill out primary and contingent beneficiaries:

1. Start by gathering all the necessary information for both primary and contingent beneficiaries. This includes their full names, contact information, social security numbers, and relationship to you.
2. Make sure to clearly designate who will be the primary beneficiary. This is the person or entity who will receive the assets or benefits if something happens to you.
3. Specify the percentage or portion of the assets that each primary beneficiary will receive. This can be divided equally among multiple primary beneficiaries or allocated in any other way you prefer.
4. If you want to include contingent beneficiaries, determine who will be the backup beneficiaries in case the primary beneficiaries are unable to receive the assets or benefits. These contingent beneficiaries will only receive the assets if the primary beneficiaries are unable to.
5. Clearly state the relationship of each primary and contingent beneficiary to avoid any confusion or ambiguity.
6. Review your choices and ensure they align with your wishes and intentions. It is advisable to consult with a legal professional or estate planner for guidance, especially if you have complex assets or unique circumstances.

Who needs primary and contingent beneficiaries?

1. Anyone who wants to ensure their assets or benefits are distributed according to their wishes should have primary and contingent beneficiaries designated.
2. Individuals with life insurance policies, retirement accounts, investment portfolios, or any other assets that require beneficiary designation would benefit from having primary and contingent beneficiaries.
3. Having designated primary and contingent beneficiaries is particularly crucial for those with dependents or loved ones who rely on their financial support in the event of their death.
4. It is also important for those who want to avoid potential conflicts or disputes among family members or other potential inheritors.
5. Even if you are single or have no dependents, having primary and contingent beneficiaries can help ensure that your assets are distributed to individuals or organizations that you care about.
6. Keep in mind that beneficiary designation is not limited to just family members. You can name any person, organization, or charity as your primary or contingent beneficiary, as long as you clearly identify them in your documents.

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What is primary and contingent beneficiaries?

Primary beneficiaries are designated recipients of assets in the event of the policyholder's death. Contingent beneficiaries are named as recipients if the primary beneficiary is unable to receive the assets.

Who is required to file primary and contingent beneficiaries?

Policyholders or account holders are required to file primary and contingent beneficiaries when setting up a life insurance policy or investment account.

How to fill out primary and contingent beneficiaries?

Primary and contingent beneficiaries can be filled out by providing the full name, relationship, date of birth, and contact information of each beneficiary.

What is the purpose of primary and contingent beneficiaries?

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

What information must be reported on primary and contingent beneficiaries?

The information to be reported on primary and contingent beneficiaries includes their full name, relationship to the policyholder, date of birth, and contact information.