Get the free Principal GTL Beneficiary Election - Lenoir-Rhyne University - hr lr

Mailing Address Des Moines, IA 50392-0002 Employee Enrollment & Waiver GLA HIT: Lenoir-Rhyne University Employee Information Name Social security number Mailing address (street) Birth date (city)

How to fill out principal gtl beneficiary election

How to fill out Principal GTL Beneficiary Election:

1. Complete the personal information section: Provide your full name, address, and contact information.
2. Identify the policy: Provide the policy number and any other necessary details to ensure accurate identification.
3. Choose primary beneficiaries: Write down the names and relationship to you of the individuals you wish to designate as your primary beneficiaries. Include their full names, addresses, and the percentage of the benefit you want each to receive.
4. Designate contingent beneficiaries: If you want to name alternate beneficiaries in case your primary beneficiaries predecease you, specify their names, addresses, and percentage of the benefit they should receive.
5. Decide how the benefit will be distributed: Indicate whether the benefit should be distributed equally among all beneficiaries or if certain beneficiaries should receive a specific amount or percentage.
6. Consider any special instructions: If you have any additional instructions for the distribution of the benefit or any other relevant details, write them down clearly.
7. Sign and date the form: After reviewing your selections and ensuring all necessary information is provided, sign and date the form to make it legally binding.
8. Submit the form: Send the completed beneficiary election form to the appropriate mailing address specified by the Principal GTL.

Who needs Principal GTL Beneficiary Election?

1. Individuals with Principal GTL policies: If you have a Principal Group Term Life Insurance policy, it is important to fill out the beneficiary election form. This will ensure that the death benefit is distributed according to your wishes.
2. Policyholders who want control over distribution: By completing the beneficiary election form, you have the opportunity to specify who will receive the benefit and in what proportion. This allows you to have control over the distribution of the policy's proceeds.
3. Individuals with changing circumstances: Life is unpredictable, and your circumstances may change over time. If you have experienced major life events such as marriage, divorce, the birth of a child, or the death of a beneficiary, it is crucial to update your beneficiary designation by filling out the Principal GTL beneficiary election form. This will ensure that the benefit is directed to the intended recipients.

For pdfFiller’s FAQs

What is principal gtl beneficiary election?

The principal gtl beneficiary election is a form that allows an individual to designate a beneficiary to receive the principal amount of a group term life insurance policy upon their death.

Who is required to file principal gtl beneficiary election?

Employees who have group term life insurance coverage are typically required to file the principal gtl beneficiary election form.

How to fill out principal gtl beneficiary election?

The form typically requires the employee to provide their personal information, as well as the name and contact information of the designated beneficiary.

What is the purpose of principal gtl beneficiary election?

The purpose of the principal gtl beneficiary election is to ensure that the employee's chosen beneficiary receives the principal amount of their group term life insurance policy in the event of their death.

What information must be reported on principal gtl beneficiary election?

The form usually requires information such as the employee's name, address, social security number, and the beneficiary's name and contact information.

When is the deadline to file principal gtl beneficiary election in 2023?

The deadline to file the principal gtl beneficiary election in 2023 is typically specified by the employer, but it is usually within a certain number of days after the employee's enrollment in the group term life insurance policy.

What is the penalty for the late filing of principal gtl beneficiary election?

The penalty for late filing of the principal gtl beneficiary election may vary depending on the employer's policies, but it could result in delays in processing and payment to the beneficiary in the event of the employee's death.

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