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WISCONSIN DEPARTMENT OF EMPLOYEE TRUST FUNDS P.O. BOX 7931 Madison, Wisconsin 537077931 18775335020 (toll-free) COMPLETE IF APPLICABLE BENEFICIARY DESIGNATION Beneficiary of Wis. Stat. 40.02 (8) (a)
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How to fill out minnesota life insurance-beneficiary designation
How to fill out Minnesota life insurance-beneficiary designation:
01
Obtain the necessary forms: To begin, you will need to obtain the beneficiary designation form provided by Minnesota Life Insurance Company. You can usually find this form on their website or by contacting their customer service.
02
Provide personal information: Fill out the form with your personal information, including your full name, contact information, and policy number. It is important to provide accurate and up-to-date information to avoid any delays or complications in the future.
03
Choose primary and contingent beneficiaries: Designate the primary beneficiary, who will be the first to receive the life insurance benefits in the event of your death. You can designate one or multiple primary beneficiaries and specify the percentage of the benefits each will receive. If the primary beneficiary is unable to receive the benefits, the contingent beneficiary will be next in line. Choose a contingent beneficiary and define their share as well.
04
Specify relationship and contact information: Alongside each beneficiary's name, provide their relationship to you, whether it's a spouse, child, relative, or friend. Additionally, include their contact information such as phone number, address, and email, as it will help the insurance company locate the beneficiaries when needed.
05
Review and sign the form: Carefully review all the information provided on the form to ensure its accuracy. Once you have reviewed everything, sign and date the form. Some forms may require a witness or a notary public to validate your signature.
06
Submit the form: After completing and signing the beneficiary designation form, submit it to Minnesota Life Insurance Company. Some forms may be submitted electronically, while others may need to be mailed or faxed. Follow the instructions provided on the form or contact the insurance company for guidance on how to submit it.
Who needs Minnesota life insurance-beneficiary designation?
Minnesota life insurance-beneficiary designation is necessary for anyone who holds a life insurance policy with Minnesota Life Insurance Company. It allows policyholders to dictate who will receive the life insurance benefits after their passing. By designating beneficiaries, individuals can ensure that their loved ones or chosen individuals are financially supported in the event of their death. It is particularly important for individuals with dependents or those who want to distribute their life insurance benefits to specific individuals or organizations, rather than having it determined by state laws.
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What is minnesota life insurance-beneficiary designation?
Minnesota life insurance-beneficiary designation is a form used to specify who will receive the benefits of a life insurance policy upon the policyholder's death.
Who is required to file minnesota life insurance-beneficiary designation?
The policyholder is required to file minnesota life insurance-beneficiary designation, in order to designate the beneficiaries of the life insurance policy.
How to fill out minnesota life insurance-beneficiary designation?
To fill out minnesota life insurance-beneficiary designation, the policyholder must provide the names, relationships, and percentages of the beneficiaries who will receive the benefits.
What is the purpose of minnesota life insurance-beneficiary designation?
The purpose of minnesota life insurance-beneficiary designation is to ensure that the life insurance benefits are distributed according to the policyholder's wishes.
What information must be reported on minnesota life insurance-beneficiary designation?
The information that must be reported on minnesota life insurance-beneficiary designation includes the names of the beneficiaries, their relationships to the policyholder, and the percentage of the benefits they will receive.
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