Get the free BENEFICIARY CHANGE FORM - First Trust Retirement

BENEFICIARY CHANGE FORM 11/2015 Forward To: First Trust Retirement, c/o DST Systems, Inc. Please Print or Type

How to fill out beneficiary change form

How to fill out beneficiary change form:

1. Obtain the beneficiary change form: Contact your insurance provider, retirement plan administrator, or financial institution to request a beneficiary change form. They may have it available on their website or be able to send it to you via email or mail.
2. Review the instructions: Read the instructions carefully before filling out the form. Make sure you understand the requirements and any documentation needed to support your request.
3. Provide personal information: Fill in your personal information, including your name, address, date of birth, and social security number. This is necessary for identification purposes.
4. Identify the policy/account: Specify the policy or account to which the beneficiary change applies. Provide the policy or account number and any other relevant details.
5. Indicate current beneficiaries: If there are already listed beneficiaries, indicate their names and the percentage or specific amount allocated to each one. This allows the provider to compare the existing beneficiaries with the changes you're making.
6. Name the new beneficiary: Clearly state the full name, relationship to you, and contact information of the new beneficiary you want to add. If you're naming multiple beneficiaries, indicate the percentage or specific amount they will receive.
7. Specify the reason for the change: In some cases, you may be required to provide a reason for changing the beneficiaries. Check if this is required and provide the necessary explanation if applicable.
8. Sign and date the form: Once you have completed all the required sections, sign and date the form. Failure to sign the form may render it invalid. Consider having the form notarized, if necessary, to ensure its authenticity.
9. Provide supporting documents: If there are any supporting documents required, such as a copy of a marriage certificate or proof of relationship, include them with the beneficiary change form.

Who needs a beneficiary change form:

1. Individuals with life insurance policies: If you have a life insurance policy, you may need to update your beneficiaries to ensure that the proceeds are distributed according to your wishes in the event of your passing.
2. Retirement plan participants: If you have a retirement plan, such as a 401(k) or an IRA, it is important to review and update your beneficiaries periodically. This ensures that your retirement savings go to the individuals or entities you desire.
3. Account holders with financial institutions: If you have any financial accounts, such as bank accounts or investment accounts, you may need to update your beneficiaries. This is particularly important for accounts that do not pass through a will or probate process.
4. Policyholders of other insurances: Beneficiary change forms may also be necessary for other types of insurance policies, such as disability insurance or annuities. Check with your insurance provider to determine if you need to update your beneficiaries for these policies as well.

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What is beneficiary change form?

Beneficiary change form is a document used to update or modify the designated recipient of certain benefits, such as life insurance proceeds or retirement account funds.

Who is required to file beneficiary change form?

Individuals who wish to change the beneficiaries of their benefits are required to file a beneficiary change form.

How to fill out beneficiary change form?

To fill out a beneficiary change form, one must provide their personal information, the current beneficiary details, and the new beneficiary's information.

What is the purpose of beneficiary change form?

The purpose of a beneficiary change form is to ensure that the correct individuals receive designated benefits in the event of the account holder's death.

What information must be reported on beneficiary change form?

The beneficiary change form typically requires information such as the account holder's name, contact information, current beneficiaries, and new beneficiaries.