Get the free Non-Binding death benefit nomination form

Issued: 1 September 2014 Trustee: The Trust Company (Superannuation) Limited ABN: 49 006 421 638 ADSL: 235153 Trustee No.: L0000635 723-7 NOMINATION OF BENEFICIARIES FORM This is the form you fill

How to fill out non-binding death benefit nomination

How to fill out a non-binding death benefit nomination:

1. Begin by obtaining the necessary forms: Contact your superannuation fund or insurance provider to request the non-binding death benefit nomination form. They should be able to provide you with the required documents either online or through mail.
2. Familiarize yourself with the terms: Review the form and understand the terminology used. It's important to have a clear understanding of the different types of beneficiaries that can be named, such as dependents, legal personal representatives, or specific individuals.
3. Provide personal details: Fill in your personal information accurately, including your full name, date of birth, and contact details. Ensure that all the information provided is up to date and correct.
4. Determine your beneficiaries: Carefully consider who you would like to nominate as your beneficiaries. You may choose to distribute your death benefits among multiple individuals or allocate the entirety to a single person.
5. Specify the proportions: If you decide to distribute your benefits among multiple beneficiaries, indicate the proportions or percentages you wish to assign to each person. Make sure the total percentages add up to 100%.
6. Understand the restrictions: Be aware of any restrictions imposed by your superannuation fund or insurance provider. They may have limitations on who can be nominated or how the benefits can be distributed.
7. Seek legal advice if necessary: If you have complex circumstances or specific wishes regarding your death benefits, it is advisable to seek professional legal advice to ensure your nomination aligns with your intentions.

Who needs non-binding death benefit nomination:

1. Individuals with superannuation funds: If you have a superannuation fund, it is crucial to consider a non-binding death benefit nomination. This allows you to outline who will receive your superannuation benefits upon your death.
2. Policyholders with life insurance: People with life insurance policies should also consider completing a non-binding death benefit nomination form. This ensures that your chosen beneficiaries will receive the death benefit payout in accordance with your wishes.
3. Individuals with dependent family members: If you have dependent family members, such as children or a spouse, a non-binding death benefit nomination can provide financial security for them in the event of your passing.

Overall, anyone who wants to have control over the distribution of their superannuation benefits or life insurance payout should consider completing a non-binding death benefit nomination form. It helps to ensure that your loved ones are taken care of according to your wishes after you're gone.

For pdfFiller’s FAQs

What is non-binding death benefit nomination?

Non-binding death benefit nomination is a document that allows a policyholder to express their preference for who should receive the death benefit from their life insurance policy, but does not legally bind the insurance company to follow those wishes.

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

Policyholders who want to designate beneficiaries for their life insurance policy are required to file a non-binding death benefit nomination.

How to fill out non-binding death benefit nomination?

To fill out a non-binding death benefit nomination, the policyholder needs to contact their insurance company and request the necessary form. They must then provide the requested information such as the names of the beneficiaries and their relationship to the policyholder.

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

The purpose of a non-binding death benefit nomination is to ensure that the policyholder's wishes regarding the distribution of the death benefit are known to the insurance company.

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

The non-binding death benefit nomination form typically requires information such as the names of the beneficiaries, their relationship to the policyholder, and the percentage of the death benefit each beneficiary should receive.

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