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LIFE INSURANCE BENEFICIARY CHANGE FORM Employee Name: DOB: SS#: Department/Agency: Primary Beneficiary: 1. Name: DOB: Address: GENDER: Social Security Number: RELATIONSHIP: Basic Life Insurance Percentage

How to fill out life insurance beneficiary change

How to fill out a life insurance beneficiary change:

1. Obtain the necessary forms: Contact your life insurance provider and ask them to provide you with the required forms for changing your beneficiary. They may have an online option or can mail them to you.
2. Read the instructions: Carefully read the instructions provided with the forms. This will help you understand the process and ensure that you fill out the forms correctly.
3. Gather the necessary information: Collect all the relevant information you will need to complete the beneficiary change form. This typically includes personal details of the current and new beneficiaries such as their full name, date of birth, relationship to the insured, and contact information.
4. Review your existing policy: Familiarize yourself with the terms and conditions of your existing life insurance policy. Make sure you understand how the beneficiary change may impact your coverage and any restrictions that may exist.
5. Complete the necessary sections: Fill out all the required sections of the beneficiary change form accurately and legibly. Double-check the spelling of names and ensure all information is entered correctly.
6. Review and sign: Carefully review the completed form to ensure accuracy. Then, sign and date the form in the designated areas. If there are additional witnesses or notary requirements, make sure to follow those instructions as well.
7. Submit the form: After completing the form, follow the instructions provided by your insurance provider to submit it. This may involve mailing it to a specific address or submitting it electronically through their online portal.

Who needs a life insurance beneficiary change:

1. Individuals who have experienced a major life event: A beneficiary change may be necessary after significant life events such as marriage, divorce, the birth of a child, or the death of a previously named beneficiary. It is important to review and update beneficiary designations to ensure that the people you want to receive the life insurance proceeds are accurately reflected in your policy.
2. Those who want to update their beneficiaries: Sometimes, individuals simply wish to update their beneficiaries for personal reasons. This could involve changing primary beneficiaries or adding contingent beneficiaries who will receive the proceeds if the primary beneficiaries are no longer alive.
3. People with outdated or inaccurate beneficiary designations: Over time, life circumstances change, and it's possible that beneficiary designations become outdated or inaccurate. It's crucial to periodically review your life insurance policy and make any necessary changes to ensure your intended beneficiaries are properly designated.

Remember, it's always a good idea to consult with your insurance provider or a financial advisor for guidance specific to your situation when considering a life insurance beneficiary change.

For pdfFiller’s FAQs

What is life insurance beneficiary change?

Changing the designated recipient of a life insurance policy in case of the policyholder's death.

Who is required to file life insurance beneficiary change?

The policyholder or the owner of the life insurance policy is required to file a beneficiary change.

How to fill out life insurance beneficiary change?

The policyholder must contact the insurance company and request a beneficiary change form, then fill out the form with the new beneficiary's information and submit it to the insurance company.

What is the purpose of life insurance beneficiary change?

The purpose is to ensure that the death benefit of the life insurance policy goes to the intended recipient or beneficiaries.

What information must be reported on life insurance beneficiary change?

The new beneficiary's full name, relationship to the policyholder, date of birth, Social Security number, and contact information must be reported.

When is the deadline to file life insurance beneficiary change in 2023?

The deadline for filing a beneficiary change in 2023 will depend on the specific policy and insurance company. It is recommended to contact the insurance company directly for the deadline.

What is the penalty for the late filing of life insurance beneficiary change?

The penalty for late filing of a beneficiary change may result in delays in the disbursement of the death benefit to the new beneficiary or the original estate of the policyholder.

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