Get the free Change of Beneficiary Designation (TOD) (PDF)

Please remember to sign application after printing. Print Clear Form Change of Beneficiary Designation (TOD) For use only with transfer on death registration. For retirement accounts, use the change

How to fill out change of beneficiary designation

To fill out a change of beneficiary designation, follow these steps:

1. Obtain the necessary form: Start by obtaining the official form required for changing the beneficiary designation. This form is usually available from the insurance company or the financial institution that holds the policy or account.
2. Review the existing beneficiary designation: Before filling out the form, carefully review the current beneficiary designation on the policy or account. This will help ensure that you understand the existing beneficiaries and their respective shares.
3. Provide your personal information: Start filling out the form by entering your personal information, such as your full name, contact details, and any other requested information. This helps establish your identity and ensures accurate processing of the request.
4. Identify the policy or account: Clearly identify the policy or account for which you want to change the beneficiary designation. Provide relevant details such as the policy or account number, type of policy or account, and any other required information.
5. Specify the new beneficiary information: In this section, clearly state the full name, contact details, and relationship to you for each new beneficiary you wish to designate. If applicable, provide the percentage or share to be allocated to each beneficiary.
6. Determine the allocation method: If you are specifying multiple beneficiaries, determine the allocation method for distributing the proceeds, such as equal shares or specific percentages. Ensure that the total allocation adds up to 100%.
7. Date and sign the form: Once you have filled out all the required sections, carefully review the form for accuracy. Then, date and sign the form in the indicated spaces. Double-check that you have provided all the necessary supporting documentation, if required.

Who needs a change of beneficiary designation?

A change of beneficiary designation may be needed for individuals under various circumstances, such as:

1. Life events: People may need to change their beneficiary designation following major life events, such as marriage, divorce, birth or adoption of a child, or the passing of a current beneficiary.
2. Changing preferences: Sometimes, individuals simply wish to update their beneficiary designation due to a change in their preferences, changing relationships, or financial restructuring.
3. Estate planning: Those engaged in estate planning may need to review and modify beneficiary designations to align with their overall estate distribution plans, ensuring assets go to the intended beneficiaries.

It is important to consult with a qualified professional, such as an attorney or financial advisor, for specific guidance and to ensure compliance with applicable laws and regulations when completing a change of beneficiary designation.

For pdfFiller’s FAQs

What is change of beneficiary designation?

Change of beneficiary designation is the process of updating the individual or individuals who will receive the benefits of a life insurance policy or retirement account in the event of the policyholder's or account holder's death.

Who is required to file change of beneficiary designation?

The policyholder or account holder is required to file a change of beneficiary designation.

How to fill out change of beneficiary designation?

To fill out a change of beneficiary designation form, the policyholder or account holder must provide their personal information, the name of the new beneficiary, relationship to the beneficiary, and the percentage of the benefit they will receive.

What is the purpose of change of beneficiary designation?

The purpose of change of beneficiary designation is to ensure that the benefits of a life insurance policy or retirement account are distributed according to the policyholder's or account holder's wishes.

What information must be reported on change of beneficiary designation?

The change of beneficiary designation form must include the policyholder's or account holder's personal information, the new beneficiary's information, relationship to the beneficiary, and the percentage of the benefit they will receive.

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