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NONBINDING NOMINATION OF BENEFICIARY FORM Please complete this form if you wish to make a nonbinding nomination of beneficiary(s) for your maps Super account. It can also be used to amend or cancel
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How to fill out non-binding nomination of beneficiaries

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How to fill out non-binding nomination of beneficiaries

01
Gather all the necessary information about your beneficiaries, such as their full names, addresses, and contact details.
02
Obtain the non-binding nomination of beneficiaries form from your financial institution or insurance company.
03
Read and understand the instructions provided with the form carefully.
04
Fill out the form accurately and ensure all required fields are completed.
05
Provide the necessary details about yourself as the policy or account holder.
06
Clearly state the full names and relationship of each beneficiary.
07
Include their complete contact details to ensure proper communication.
08
Double-check all the information before submitting the form.
09
Sign and date the form in the designated areas.
10
Submit the filled-out form to your financial institution or insurance company as per their instructions.

Who needs non-binding nomination of beneficiaries?

01
Anyone who has a financial account, insurance policy, or other assets that allow the nomination of beneficiaries can benefit from a non-binding nomination.
02
This can include individuals who want to ensure their assets are transferred to specific individuals or organizations after their death.
03
It is particularly important for individuals with dependents, such as spouses, children, or elderly parents, who rely on the financial support from the assets.
04
Non-binding nominations can also be valuable for individuals who want to support charitable causes or leave a legacy behind.
05
Overall, anyone who wants to have control over the distribution of their assets and ensure their wishes are respected should consider a non-binding nomination of beneficiaries.
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Non-binding nomination of beneficiaries refers to a designation made by an individual regarding whom they wish to receive benefits from an account or policy but without a legally enforceable commitment.
Typically, individuals who hold accounts such as retirement accounts, life insurance policies, or other financial assets are encouraged to file non-binding nominations for beneficiaries.
To fill out a non-binding nomination, one must obtain the appropriate form from the financial institution, provide the names and contact information of intended beneficiaries, and submit the completed form according to the institution's guidelines.
The purpose of non-binding nomination of beneficiaries is to provide guidance to the issuer or institution on the individual's preferences for distributing assets upon their death, even though it is not legally binding.
The information typically required includes the full names, relationships to the account holder, contact details, and the percentage of benefits each beneficiary is to receive.
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