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The Lincoln National Life Insurance Company, PO Box 2649, Omaha, NE 68103-2649 toll-free (800) 423-2765 Fax (800) 462-4660 www.LincolnFinancial.com BENEFICIARY DESIGNATION FORM Policyholder/Employer

How to fill out beneficiary designation form

How to fill out a beneficiary designation form:

1. Start by obtaining the beneficiary designation form from the relevant institution or organization. This form is typically required for various financial accounts, insurance policies, retirement plans, and other similar assets.
2. Carefully read all the instructions provided on the form. Make sure you understand the purpose of the form and the information required.
3. Fill in your personal information accurately. This includes your full name, contact details, and any identifying information requested.
4. Identify the account or policy for which you are designating a beneficiary. Provide the necessary account number, policy number, or any other relevant identification details.
5. Clearly specify the beneficiary's information. This generally includes their full name, relationship to you, contact details, and their Social Security number or other identifying information.
6. Consider the percentage or share of the assets you wish to assign to each beneficiary, if applicable. Ensure that the total allocation adds up to 100%.
7. If you want to assign contingent beneficiaries, provide their information as well. Contingent beneficiaries will receive the assets if the primary beneficiary is unavailable or does not wish to accept them.
8. Carefully review the completed form for any errors or omissions. Make sure all the details are accurate and up-to-date.
9. Sign and date the form as required. Some forms may also require the signature of a witness or a notary public.
10. Submit the form to the institution or organization as instructed. Retain a copy for your records.

Who needs a beneficiary designation form:

1. Individuals with financial accounts, such as bank accounts, investment accounts, or brokerage accounts, may need to fill out a beneficiary designation form. This ensures that the assets are transferred to the designated beneficiary upon the account holder's death.
2. Policyholders of life insurance, health insurance, or other types of insurance policies often require beneficiary designation forms. This enables the insurance proceeds to be paid directly to the designated beneficiary upon the policyholder's death.
3. Participants in retirement plans, such as IRAs (Individual Retirement Accounts), 401(k) plans, or pension plans, are typically required to complete beneficiary designation forms. This allows the retirement account assets to pass on to the designated beneficiary upon the participant's death.
4. Individuals who want to ensure a specific person or organization receives their assets or insurance proceeds after their death can also use a beneficiary designation form in their estate planning efforts.

Overall, beneficiary designation forms are necessary for individuals who want to designate how their assets should be distributed after their passing. These forms provide clear instructions to financial institutions, insurance companies, and other relevant entities regarding the transfer of assets to designated beneficiaries.

For pdfFiller’s FAQs

What is beneficiary designation form?

A beneficiary designation form is a document used to specify who will receive assets or benefits upon the death of the account holder or policyholder.

Who is required to file beneficiary designation form?

Anyone who has assets or benefits that can be passed on to a beneficiary upon their death is required to file a beneficiary designation form.

How to fill out beneficiary designation form?

To fill out a beneficiary designation form, you will need to provide information about the beneficiary, such as their name, relationship to the account holder, and contact information.

What is the purpose of beneficiary designation form?

The purpose of a beneficiary designation form is to ensure that assets or benefits are distributed according to the account holder's wishes upon their death.

What information must be reported on beneficiary designation form?

The beneficiary designation form typically requires information such as the beneficiary's full name, date of birth, social security number, and relationship to the account holder.

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