Get Designation Of Beneficiary Form - State Of New Jersey

The policy owner is the only person who can change the beneficiary designation in most cases. If you have an irrevocable beneficiary or live in a community property state you need approval to make policy changes. A power of attorney can give someone else the ability to change your beneficiaries.

spouse, partner, children, parents, brothers and sisters, business partner, key employee, trust and charitable organization.

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.

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Your original designation remains in force whether it still reflects your wishes or not, until you submit another form to cancel prior designations or to designate a new beneficiary. A designation of beneficiary form outlines your desire to have the funds due upon your death paid out in a particular way.

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.

Percentages for each category must total 100% and must be whole numbers, such as 33%, not 33.33% or 1/3. If you do not indicate a percentage, the benefit will be evenly divided. Only complete section if you are naming a trust as your beneficiary.

The Designation of Beneficiary form allows a member of a New Jersey State-administered retirement system to nominate a beneficiary, or beneficiaries, for benefits payable upon the death of that member. This form applies to both the group life insurance and pension benefit for active and retired members.