Get the free Change of Beneficiary Form - Human Resources

Effective 09/2013-Page 1 of 1 Questions about this form? Contact HR Benefits E-mail: benefits UChicago.edu GROUP LIFE AND PERSONAL ACCIDENT CHANGE OF BENEFICIARY FORM Please Check One Name Active

How to fill out change of beneficiary form

How to fill out change of beneficiary form:

1. Start by gathering the necessary information. You will need the name, contact information, and social security number of the current policyholder or account holder, as well as the same information for the new beneficiary you wish to designate.
2. Carefully read the instructions provided on the form. Make sure you understand the purpose of the form and any requirements or restrictions involved in changing the beneficiary.
3. Fill in the necessary personal information. This may include your name, address, phone number, and relationship to the current policyholder or account holder.
4. Clearly state the name and contact information of the current policyholder or account holder, as well as their relationship to you.
5. Provide the name and contact information of the new beneficiary you wish to designate. Include their relationship to you as well.
6. Review the form for accuracy and completeness. Make sure all required fields are filled in and there are no errors or omissions.
7. Sign and date the form. Follow any additional instructions provided for submitting the form, such as mailing or delivering it to a specific address or office.
8. Keep a copy of the completed form for your records.

Who needs change of beneficiary form:

1. Individuals with life insurance policies: If you have a life insurance policy and want to change the person or entity who will receive the policy's proceeds upon your death, you will need to fill out a change of beneficiary form.
2. Retirement account holders: If you have a retirement account, such as an IRA or 401(k), and want to designate a new beneficiary to inherit the account upon your death, you will need to complete a change of beneficiary form.
3. Trustee of a trust: If you are the trustee of a trust and need to update the designated beneficiaries, you will likely need to use a change of beneficiary form.
4. Account holders of financial institutions: Certain financial institutions may require a change of beneficiary form to be completed if you wish to update the beneficiaries of your accounts, such as bank accounts or investment accounts.
5. Owners of other types of policies or accounts: Depending on the specific circumstances and the type of policy or account you have, you may need a change of beneficiary form to update the designated beneficiaries. It is best to check with the relevant institution or provider to determine if this form is required.

Overall, anyone who wants to change the designated beneficiaries of a policy, account, or trust may need to fill out a change of beneficiary form. It is important to follow the specific instructions provided by the institution or provider to ensure the process is completed correctly.

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What is change of beneficiary form?

A change of beneficiary form is a document that allows the policyholder of an insurance policy or retirement account to update or modify the designated beneficiary.

Who is required to file change of beneficiary form?

The policyholder or account holder is required to file a change of beneficiary form if they wish to update the beneficiary information.

How to fill out change of beneficiary form?

To fill out a change of beneficiary form, the policyholder must provide their personal information, the current beneficiary information, and the updated beneficiary information.

What is the purpose of change of beneficiary form?

The purpose of a change of beneficiary form is to ensure that the policyholder's insurance policy or retirement account is distributed according to their wishes upon their death.

What information must be reported on change of beneficiary form?

The change of beneficiary form must include the policyholder's personal information, the current beneficiary's information, the updated beneficiary's information, and the signatures of all parties involved.