Get the free Binding Death Nomination of Beneficiaries Form - QIEC Super

Binding Death Nomination of Beneficiaries ALL SECTIONS MUST BE COMPLETED PLEASE NOT PLEASE USE BLOCK LETTERS ARE YOU A CURRENT MEMBER OF IEC SUPER? YES IEC SUPER MEMBER NUMBER NO Note: if you have

How to fill out binding death nomination of

How to Fill Out a Binding Death Nomination:

1. Start by obtaining the necessary forms: You can request the binding death nomination form from your superannuation fund or insurance provider. They may also provide the form on their website for download.
2. Read the instructions carefully: Once you have the form, take the time to carefully read all the instructions provided. Familiarize yourself with the requirements and guidelines for filling out the form correctly.
3. Provide personal information: The form will usually require you to provide your personal information, such as your full name, date of birth, address, and contact details. Make sure to double-check the accuracy of the information provided.
4. Nominate your beneficiaries: Indicate the full names, dates of birth, and relationship to you for each beneficiary you wish to nominate. Include all necessary details to avoid any confusion or misunderstandings in the future.
5. Specify the percentage allocation: If you want to allocate your benefits among multiple beneficiaries, indicate the percentage each individual should receive. Ensure the total percentages add up to 100%.
6. Choose between binding and non-binding nomination: The form may also require you to select whether your nomination should be binding or non-binding. If you opt for a binding death nomination, the trustee of your superannuation fund or insurer will be obliged to follow your instructions. A non-binding nomination, on the other hand, offers more flexibility to the trustee in distributing the benefits.
7. Seek legal advice if needed: If you have complex estate planning needs or unique family circumstances, it is advisable to seek legal advice. An attorney specializing in estate planning can help ensure your binding death nomination accurately reflects your intentions and aligns with your overall estate plan.

Who Needs a Binding Death Nomination:

1. Individuals with specific beneficiary wishes: If you have a preferred distribution plan for your superannuation benefits or insurance proceeds, a binding death nomination can provide you with the certainty that your wishes will be followed.
2. Those seeking to avoid disputes or uncertainties: By making a binding death nomination, you can minimize the risk of disagreements among your loved ones regarding the distribution of your assets. This can provide peace of mind for both you and your beneficiaries.
3. Individuals with complex family structures: If you have blended families, dependents with special needs, or individuals relying on your financial support, a binding death nomination can help ensure they are adequately provided for according to your wishes.

Note: It is essential to review and update your binding death nomination regularly, especially after major life events such as a marriage, divorce, birth of children, or the passing of a nominated beneficiary.

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What is binding death nomination of?

Binding death nomination is a legal document where a policyholder nominates a specific beneficiary to receive the death benefits of their life insurance policy.

Who is required to file binding death nomination of?

Policyholders who want to ensure that their life insurance benefits are paid to a specific beneficiary.

How to fill out binding death nomination of?

To fill out a binding death nomination, the policyholder must provide their personal information, the information of the nominated beneficiary, and sign and date the form in the presence of witnesses.

What is the purpose of binding death nomination of?

The purpose of a binding death nomination is to provide clarity and certainty about who will receive the death benefits of the life insurance policy.

What information must be reported on binding death nomination of?

The binding death nomination form must include the policyholder's details, the beneficiary's details, and the policy details.