Get the free Voluntary Life Beneficiary Designation & Change Form

110 Mailing Address: Des Moines, IA 503920002 Principal Life Beneficiary Designation/ Insurance Company Change RTL Company Name Account/Unit Number Employee Information Your name (last, first, middle

How to fill out voluntary life beneficiary designation

How to fill out voluntary life beneficiary designation:

1. Obtain the necessary form: Contact your insurance provider or employer to request the voluntary life beneficiary designation form. They should be able to provide you with the correct document.
2. Fill in personal information: Begin by providing your name, address, Social Security number, and other personal details as requested on the form. Make sure to double-check the accuracy of the information before proceeding.
3. Choose primary beneficiaries: Identify the individuals or entities that you want to receive the benefits in case of your passing. You can name one or multiple primary beneficiaries, specifying the percentage of the benefit each should receive. Ensure you include their full names, relationship to you, and their contact information.
4. Decide contingent beneficiaries: In case the primary beneficiaries are unable to receive the benefits, you can designate contingent beneficiaries. These individuals or entities will only receive the benefit if the primary beneficiaries are deceased or unable to claim the benefits. Enter their full names, relationship to you, and contact details as well.
5. Specify percentages or amounts: Indicate the portion or percentage of the benefit that each primary and contingent beneficiary should receive. You can allocate the benefits equally among them or specify different amounts based on your preference. Ensure the total percentages or amounts add up to 100% to avoid any complications.
6. Consider special provisions or instructions: If there are any specific instructions you want to include, such as how the benefits should be used or any particular conditions, you can add them in this section. This can provide additional clarity and ensure your wishes are followed.
7. Review and sign the form: Carefully review all the information you provided on the form to ensure accuracy and completeness. Once satisfied, sign and date the document in the designated areas.
8. Submit the form: Follow the instructions provided by your insurance provider or employer to submit the completed form. This may involve mailing the document or submitting it electronically.

Who needs voluntary life beneficiary designation?

1. Individuals with voluntary life insurance: If you have voluntarily obtained a life insurance policy through your employer or independently, it is recommended to designate beneficiaries. This ensures that the benefits are distributed according to your wishes upon your passing.
2. Individuals with dependents: If you have dependents such as a spouse, children, or other family members who rely on your financial support, it is crucial to designate beneficiaries. This helps provide them with the necessary financial resources in the event of your untimely demise.
3. People with specific wishes: If you have specific intentions for how your life insurance benefits should be distributed, naming beneficiaries allows you to ensure those wishes are carried out. Whether it is to leave an inheritance to loved ones or support a charitable cause, a beneficiary designation allows you to control the destiny of the benefits.

For pdfFiller’s FAQs

What is voluntary life beneficiary designation?

The voluntary life beneficiary designation is a form that allows an employee to specify who will receive the benefits of their voluntary life insurance policy in the event of their death.

Who is required to file voluntary life beneficiary designation?

Employees who have a voluntary life insurance policy through their employer are required to file a beneficiary designation form.

How to fill out voluntary life beneficiary designation?

Employees can fill out the voluntary life beneficiary designation form provided by their employer, and must include the name and relationship of the beneficiary.

What is the purpose of voluntary life beneficiary designation?

The purpose of voluntary life beneficiary designation is to ensure that the employee's chosen beneficiary receives the benefits of their life insurance policy upon their death.

What information must be reported on voluntary life beneficiary designation?

The beneficiary designation form must include the full name and relationship of the beneficiary, as well as their contact information.

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