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  • Beneficiary Designation Form - Annuities

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American General Life Insurance Company The United States Life Insurance Company in the City of New York Mailing Address: Annuity Service Center P.O. Box 871 Amarillo, TX 79105-0871 Overnight Mailing.

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A beneficiary is a person, institution, charitable organization, or irrevocable or revocable trust named by you, the participant, to receive payment of benefits provided under the Plan in the event of your death. You may designate more than one Primary Beneficiary who will share in the Plan's death benefit.

Most annuities allow the contract owner to change the annuitant at any time. ... The annuitant and the owner can be the same. The beneficiary is like the beneficiary of a life insurance policy. The annuity contract's death benefits are paid to the beneficiary when another party to the annuity contract dies.

By designating a beneficiary in an annuity contract, owners also protect heirs from probate, the legal process of distributing a deceased person's estate.

There are several types of annuity payout plans. With some annuities, payments end with the death of the annuity's owner, called the annuitant, while others provide for the payments to be made to a spouse or other annuity beneficiary for years afterward.

Primary beneficiaries are the annuity owner's first choice for who should receive any remaining money in the account after he dies. Annuity owners must specify at least one primary beneficiary, although no limit exists on the number of beneficiaries that can be chosen.

If an annuity contract has a death-benefit provision, the owner can designate a beneficiary to inherit the remaining annuity payments after death. The earnings on an inherited annuity are taxable.

But there are things you can do to defer payment on what you inherit. For example, exercising your option to continue receiving payments as usual if you're a surviving spouse is one way to maintain the tax-deferred status of an inherited annuity. ... Another option is rolling an inherited annuity into an IRA.

Complete and return form 6304, Request Change of Beneficiary, to make alterations to your annuity contract's beneficiary designation. Be sure you complete all sections of the form, including your signature in section 5; any form that is not signed and dated will be rejected and returned to you.

Annuity owners must specify at least one primary beneficiary, although no limit exists on the number of beneficiaries that can be chosen. Owners may also specify how the money shall be divvied between beneficiaries.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232