Get the free Beneficiary Designation Form

This form is used to designate primary and contingent beneficiaries for life insurance and other related benefits provided by Lincoln National Life Insurance Company. It outlines the necessary information required from the policyholder, including the names and relationships of beneficiaries, signatures, and consent where applicable.

How to fill out beneficiary designation form

How to fill out beneficiary designation form

1. Obtain the beneficiary designation form from your financial institution or insurance provider.
2. Read the instructions carefully to understand the requirements.
3. Fill out your personal information, including your name, address, and account number, if applicable.
4. Specify the primary beneficiary by providing their full name, relationship to you, and contact details.
5. If desired, add contingent beneficiaries who will receive the benefits if the primary beneficiary is unavailable.
6. Determine the percentage of benefits each beneficiary will receive, ensuring the total equals 100%.
7. Sign and date the form to validate your designation.
8. Submit the completed form to the appropriate institution and keep a copy for your records.

Who needs beneficiary designation form?

1. Individuals with financial accounts, life insurance policies, or retirement plans who want to specify who will receive their benefits upon their passing.

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What is beneficiary designation form?

A beneficiary designation form is a legal document used to designate individuals or entities to receive assets or benefits upon the death of an account holder or policyholder.

Who is required to file beneficiary designation form?

Individuals who hold accounts such as life insurance policies, retirement accounts, or any financial assets that allow for beneficiary designations are typically required to file a beneficiary designation form.

How to fill out beneficiary designation form?

To fill out a beneficiary designation form, provide the necessary information about the account holder, the beneficiaries (including their names, addresses, and relationship to the account holder), and specify the percentage of benefits each beneficiary will receive, if applicable.

What is the purpose of beneficiary designation form?

The purpose of a beneficiary designation form is to ensure that assets are transferred according to the account holder's wishes upon their death, avoiding probate and ensuring prompt distribution to heirs.

What information must be reported on beneficiary designation form?

The form must include the account holder's information, the beneficiaries' names, their relationship to the account holder, and the percentage of benefits they should receive.