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Nonlapsing Death Benefit Nomination Form Total Care Plan Super Issued by Colonial First State Investments Limited ABN 98 002 348 352 ADSL 232468 (CSIL), the trustee of the Colonial First State FirstChoice

How to fill out non-lapsing death benefit nomination

How to fill out non-lapsing death benefit nomination

1. Step 1: Obtain a non-lapsing death benefit nomination form from your insurance provider.
2. Step 2: Read the form carefully to understand the instructions and requirements.
3. Step 3: Fill in your personal details accurately, including your full name, policy number, and contact information.
4. Step 4: Identify the beneficiary/beneficiaries you want to designate to receive the death benefit.
5. Step 5: Specify the percentage or specific amount you want each beneficiary to receive.
6. Step 6: Consider any contingencies or alternative beneficiaries you may want to include.
7. Step 7: Sign and date the form, and make a photocopy for your own records.
8. Step 8: Submit the completed form to your insurance provider, following their specific submission instructions.
9. Step 9: Keep a copy of the acknowledgment receipt or confirmation from your insurance provider.
10. Step 10: Review the nomination periodically and update it if necessary, especially after major life events.
11. Step 11: Inform your designated beneficiaries about the existence and details of the non-lapsing death benefit nomination.

Who needs non-lapsing death benefit nomination?

1. Anyone who has an insurance policy with a death benefit can consider having a non-lapsing death benefit nomination.
2. It can be particularly beneficial for individuals who want to ensure that their preferred beneficiaries receive the death benefit in case of their untimely demise.
3. Parents might opt for this nomination to secure their children's financial future.
4. Those who want to prevent the death benefit from being distributed according to the default legal succession laws may also find it useful.
5. Individuals with complex family situations or unique beneficiary arrangements can benefit from having a non-lapsing death benefit nomination to maintain control over the distribution of their insurance proceeds.

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What is non-lapsing death benefit nomination?

A non-lapsing death benefit nomination ensures that the death benefit from a policy will not lapse or be forfeited.

Who is required to file non-lapsing death benefit nomination?

Policyholders who wish to ensure that their death benefit will be paid out as intended.

How to fill out non-lapsing death benefit nomination?

Policyholders can typically fill out a form provided by their insurance company and submit it with the necessary information.

What is the purpose of non-lapsing death benefit nomination?

The purpose is to designate the beneficiary who will receive the death benefit and ensure that it is paid out according to the policyholder's wishes.

What information must be reported on non-lapsing death benefit nomination?

The beneficiary's name, relationship to the policyholder, and contact information.