BENEFICIARY DESIGNATION FORM - Salem School District: Fill out & sign online

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How do I write a beneficiary designation letter?

Most beneficiary designations will require you to provide a persons full legal name and their relationship to you (spouse, child, mother, etc.). Some beneficiary designations also include information like mailing address, email, phone number, date of birth and Social Security number.

What percentages are required for beneficiary designation?

The total for all primary beneficiaries must equal 100%. If no percentages are specified, the proceeds will be split evenly among those named. If no named beneficiary survives you, settlement will be made to your estate, unless otherwise provided in the Group Contract.

How to fill out beneficiary designation form?

Write only one beneficiary on each line. Make sure that you write the full names of all beneficiaries. For example, if you name you children as beneficiaries, DO NOT merely write children on one of the lines; instead write the full names of each of your children on separate lines.

Do I have to fill out beneficiary designation form?

If you get married or divorced, or have children or other life changes, standard sequence will follow those life changes. If you never file a beneficiary designation, your benefit will be paid ing to standard sequence at the time of your death.

What is a beneficiary designation form?

The beneficiary designation forms allow you to name primary and secondary beneficiaries. Your primary beneficiaries are the first people or entities that you want to receive your benefit after you die.

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What happens if you dont designate a beneficiary?

If you dont name a beneficiary as part of your life insurance policy, the death benefit will flow through your estate. Your loved ones will receive a smaller lump sum payment, and payment will be delayed as the funds go to probate as part of your estate.

How do I fill out a beneficiary designation?

Provide the following information on the beneficiary designation: The full name of the trust as it shows on the trust document. The date the trust was created. The name of the trustee, followed by the word trustee, or if you cannot provide a trustee, ETF may accept another contact person. The trustees address.

What form do I need to name a beneficiary?

There are two beneficiary designation forms: The basic Beneficiary Designation (ET-2320) allows you to name primary and secondary beneficiaries. The Beneficiary Designation - Alternate (ET-2321) allows you to name primary and secondary beneficiaries. You can also name specific successors to those beneficiaries.

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