Get the free CHANGE OF BENEFICIARY (LIFE AND / OR ANNUITY)

THE LAFAYETTE LIFE INSURANCE COMPANY (Company) 400 Broadway Cincinnati, OH 45202-3341 1-800-243-6631 FAX: 888-558-9329 E-Mail: IndividualOperations llic.com CHANGE OF BENEFICIARY (LIFE AND / OR ANNUITY)

How to fill out change of beneficiary life

How to fill out a change of beneficiary form for life insurance:

1. Obtain the necessary form: Contact your life insurance provider and request a change of beneficiary form. They may have it available for download on their website or can send it to you via mail or email.
2. Review the form: Take the time to carefully read through the form, ensuring that you understand all the sections and instructions. This will help you avoid any mistakes or confusion while filling it out.
3. Provide personal information: Start by filling out your personal details, including your full name, address, contact information, and policy number. Make sure all the information is accurate and up to date.
4. Select beneficiaries: Clearly indicate the new beneficiaries you wish to designate for your life insurance policy. Provide their full names, relationships to you, and their contact information. You may need to specify the percentage or amount of the benefit each beneficiary should receive.
5. Consider contingent beneficiaries: In case the primary beneficiaries cannot receive the benefits for any reason, consider naming contingent beneficiaries. These individuals will become beneficiaries if the primary beneficiaries are unable to claim the benefits.
6. Sign and date the form: Once you have completed all the necessary sections, sign and date the form. This confirms that the information provided is accurate and that you are authorizing the change of beneficiary.
7. Submit the form: Return the completed form to your life insurance provider using the method they instructed. This may involve mailing it to a specific address or submitting it electronically through their online portal.

Who needs a change of beneficiary on their life insurance policy:

1. Life events: Individuals who have experienced major life changes such as marriage, divorce, birth, adoption, or death of a beneficiary may need to update their beneficiaries accordingly.
2. Estate planning: People who want to ensure their life insurance benefits are distributed according to their wishes as part of their estate plan may need to review and change their beneficiaries periodically.
3. Changing priorities: As personal circumstances evolve, your priorities may shift regarding who should receive your life insurance proceeds. It is important to update your beneficiaries to reflect your current wishes.
4. Business arrangements: For business owners, a change of beneficiary can be necessary to ensure the continuity of their company in case of their passing. This may involve designating business partners or key employees as beneficiaries.
5. Reviewing outdated beneficiaries: It is generally a good practice to review your life insurance beneficiaries periodically, even if there are no specific events prompting the change. This ensures that your wishes are up to date and align with your current relationships and obligations.

Remember, it is always advisable to consult with a financial advisor or attorney when making changes to your life insurance beneficiaries, especially if your situation is complex or involves legal implications.

For pdfFiller’s FAQs

What is change of beneficiary life?

A change of beneficiary life is a form that allows the policyholder to designate a new beneficiary for their life insurance policy.

Who is required to file change of beneficiary life?

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

How to fill out change of beneficiary life?

The policyholder must obtain the form from the insurance company, fill out the required information, and submit the form to the insurance company.

What is the purpose of change of beneficiary life?

The purpose of a change of beneficiary form is to update the designated beneficiary of the life insurance policy.

What information must be reported on change of beneficiary life?

The policyholder must report the name and relationship of the new beneficiary, as well as their contact information.

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