Get Benificary Design Form

Yes, you can have multiple primary beneficiaries.

In the financial world, a beneficiary typically refers to someone eligible to receive distributions from a trust, will, or life insurance policy. Beneficiaries are either named specifically in these documents or have met the stipulations that make them eligible for whatever distribution is specified.

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.

There are no formal steps to follow when notifying beneficiaries. Give the beneficiary all of your contact info and urge him or her to contact you as soon as possible. You cannot begin making distributions until you've set up a reliable form of communication with the beneficiary.

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.

A designated beneficiary is named on a life insurance policy or financial account as the recipient of those assets in the event of the account holder's death. ... The designated beneficiary generally has to file a claim with a copy of the death certificate to receive the assets.

Beneficiary designations are used to identify the recipient(s) of your insurance benefits. A Member who is insured for Life Insurance with Standard Insurance Company (The Standard) may name whomever he/she wishes as beneficiary.

Your beneficiaries can be family members, friends, charities or organizations that are important to you. If you die before you retire, the plan will pay a pre-retirement survivor (death) benefit to your beneficiary(ies).

Wills do not override beneficiary designations; rather, beneficiary designations ordinarily take precedence over wills.