BENEFICIARY DESIGNATION FORM - Dearborn National 2025

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If you do not name a beneficiary, The Standard will pay the life benefit ing to the policy order. This means your surviving spouse will be paid the benefit as the first person listed in the order.
For example, if you name your three cousins as your primary beneficiaries, you can name the children of each cousin as alternate primary beneficiaries. Then, if one cousin dies before you do, their share will be divided between their children who are named as alternate primary beneficiaries.
Sample: Martha Doe, wife, or, in the event of her death, Richard Doe, cousin, or in the event of his death, Jane Doe, niece. 6.) One Beneficiary Followed by Two Beneficiaries in Equal Shares Sample: Martha Doe, wife, or, in the event of her death, Jane Doe and Mary Doe, cousins, in equal shares, or their survivors.
Beneficiary designations directly transfer specific assets to named individuals or entities upon death, bypassing the probate process and overriding directives in a will. A will is a legal document that outlines how ones assets should be distributed after death but typically requires probate to be enforced.
Any of the following individuals are considered an eligible designated beneficiary (EDB): a surviving spouse, a disabled or chronically ill individual, an individual who is not more than 10 years younger than the IRA owner, or a child of the IRA owner who has not docHubed the age of majority.
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Important Things to Remember about Designations Only the insured can sign the designation of beneficiary. Your employing office must receive the completed form before you die. Two persons must witness your signature. A witness cannot be someone you are naming on the form as a beneficiary.

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