New Mexico Change of Beneficiary

State:
Multi-State
Control #:
US-01579
Format:
Word; 
Rich Text
Instant download

Description

This is a model Change of Beneficiary form for use in changing the beneficiary of an insurance policy. Signature of the policy holder is needed, and designation of new beneficiary. Adapt to fit your circumstances.
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How to fill out Change Of Beneficiary?

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FAQ

You can change the beneficiaries of your life insurance by contacting your insurance company. You'll need to submit a change of beneficiary form online, on paper, or over the phone. The form will ask for personal information about your beneficiary, such as: Contact information.

The policyowner can change the beneficiary. A policyowner may change a beneficiary at any time. However, consent may be needed by the current beneficiary if designated as irrevocable.

The policyowner can change the beneficiary. A policyowner may change a beneficiary at any time. However, consent may be needed by the current beneficiary if designated as irrevocable.

A revocable beneficiary designation gives the policyholder the right to change the beneficiary without the consent of the named beneficiary.

The policyholderPolicyholderThe person who owns an insurance policy is the only person allowed to make changes to your life insurance beneficiaries. The only exception is if you've granted someone power of attorney, a legal document that lets someone make financial, legal, or medical decisions on your behalf.

Generally, once the policyholder dies, the death benefit is paid to the beneficiaries ing to the state's laws with jurisdiction over the policy. When policies are active, only the policyholder can change the beneficiaries. In most cases and states, a spouse cannot override term life insurance beneficiaries.

As the policyholder, only you ? or someone who holds durable power of attorney for you ? can change your life insurance beneficiaries. However, if your policy names an irrevocable beneficiary, you will also need to get that beneficiary's consent before making changes.

A: To update your beneficiary designation with PERA, please complete and submit a Beneficiary Designation form which is available here. It is important to note that if this change is the result of marriage, PERA will also require a copy of your marriage certificate.

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New Mexico Change of Beneficiary