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This form is primarily required for employees and retirees participating in the HealthChoice Life Insurance Plan. Individuals must file this form to designate primary and contingent beneficiaries, which can include family members, trusts, or institutions. For example, a working parent may wish to name their spouse as the primary beneficiary and their children as contingent beneficiaries to ensure financial security for their family in case of an unforeseen event. Additionally, retirees may need to update their designations if there are changes in personal circumstances such as marriage or divorce.
To ensure that your beneficiary designations are valid, this form must be completed accurately and submitted to the Office of Management and Enterprise Services (OMES) Employees Group Insurance Division. There are no specific deadlines for filing; however, it is crucial that the form is signed and received by EGID before it becomes effective. Users should also ensure that all necessary information about each beneficiary is provided, including full legal names, addresses, relationships, dates of birth, and Social Security numbers.
Submitting the Beneficiary Designation Form involves a straightforward process. First, obtain a copy of the template from DocHub or directly from your employer's HR department. After filling out all required fields with accurate information regarding your beneficiaries, sign and date the document. Finally, mail the completed form to OMES EGID at the specified address: 3545 N.W. 58th St., Ste. 600, Oklahoma City, OK 73112.
When completing this form, it's vital to remember that any previous beneficiary designations will be canceled upon submission of this new form. Additionally, if you choose to designate a minor as a beneficiary or establish a trust as a beneficiary, consider consulting with legal or financial professionals due to potential complexities involved in managing these arrangements.
