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NOMINATION OF BENEFICIARY FORM Reg No 12/8/6313/1 Private Bag X21 Brooklyn Square 0075 Doc ex 340, Pretoria Tel: +27(012) 452 7032 Fax: +27(012) 452 7843 Email: herring Forbes.co.ZA Name of Participating

How to fill out nomination of beneficiary form

How to fill out a nomination of beneficiary form:

1. Start by obtaining the nomination of beneficiary form from the appropriate institution or organization. This form is commonly used for life insurance policies, retirement accounts, and certain investments.
2. Carefully read and understand the instructions provided with the form. Familiarize yourself with the purpose and requirements of the form to ensure accurate completion.
3. Begin by entering your personal information in the designated fields. This usually includes your full name, address, contact information, and any account or policy numbers related to the nomination.
4. Identify the beneficiary/beneficiaries for whom you want to designate the assets or benefits. Include their full names, addresses, and relationship to you. It's essential to be specific and accurate to avoid any confusion.
5. Determine the percentage or amount you wish each beneficiary to receive. Depending on the form, you may need to indicate the percentage allocation or specific amount for each individual beneficiary. Double-check your calculations to ensure the total allocation adds up to 100% or covers the entire benefit.
6. If applicable, consider designating contingent beneficiaries. A contingent beneficiary would receive the assets or benefits if the primary beneficiary predeceases you or is unable to accept the nomination.
7. Review the form thoroughly before submitting it. Make sure all information provided is correct, legible, and free of errors. Taking your time to ensure accuracy is crucial to avoid any complications in the future.

Who needs a nomination of beneficiary form?

1. Life insurance policyholders: Individuals who have life insurance policies should consider completing a nomination of beneficiary form to specify who will receive the death benefit.
2. Retirement account holders: People with retirement accounts, such as 401(k)s or IRAs, should often complete a nomination of beneficiary form to determine who will inherit the account balance.
3. Investment account owners: Certain investment accounts, such as mutual funds or brokerage accounts, may require a beneficiary designation to ensure proper transfer of assets upon the owner's death.
4. Individuals with significant assets or investments: Even if not explicitly required, individuals with substantial assets or investments may choose to complete a nomination of beneficiary form to ensure their wishes are explicitly known and followed.

By completing a nomination of beneficiary form, you can ensure that your assets or benefits are distributed according to your wishes upon your death, providing peace of mind for both yourself and your loved ones.

For pdfFiller’s FAQs

What is nomination of beneficiary form?

Nomination of beneficiary form is a document that designates who will receive the benefits of a policy or account in the event of the policyholder's or account holder's death.

Who is required to file nomination of beneficiary form?

The policyholder or account holder is required to file a nomination of beneficiary form.

How to fill out nomination of beneficiary form?

The form must be filled out with the details of the chosen beneficiary, including their name, relationship to the policyholder, and contact information.

What is the purpose of nomination of beneficiary form?

The purpose of the form is to ensure that the policyholder's or account holder's benefits are distributed according to their wishes in the event of their death.

What information must be reported on nomination of beneficiary form?

The form must include the beneficiary's full name, relationship to the policyholder, date of birth, and contact information.

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