If the annuity contract is owned by a partnership, the beneficiary designation One Beneficiary. Example my wife, Mary Jane Doe. •. Multiple Beneficiaries.
The following are examples of types of commonly requested beneficiary express each type of designation to minimize the time necessary to pay a claim.
Example 1: Paid to Aida Bugg, Barb Akew and Ray O'Sun, children of the Insured, equally or to the survivor. This wording divides the death proceeds in equal shares among all primary beneficiaries alive when the Insured dies.
(Note: if all primary beneficiaries die before the insured, the benefits will be paid to the contingent beneficiary, if any.) Here are examples of acceptable wording. When appropriate, we recommend you use beneficiary designations like these. Situation: Mary dies before the Insured.
The beneficiary designation form is an IMPORTANT DOCUMENT concerning your life insurance Examples of Frequently Used Beneficiary Designations.
These are just some examples of the creative beneficiary designations, but the important part is to dream big about what your wishes are.
Knowledge of the most common errors made with beneficiary designations can . If your primary beneficiary (your spouse, for example) predeceases you, or if
An improper beneficiary designation may produce some unforeseen surprises, . If, for example, you name your two children as primary beneficiaries and one.
These beneficiary designations should be coordinated with your broader Example: Newly married client revises Will to include spouse;
When completing a beneficiary designation form, what kind of identifiable For example, if a will and a life insurance policy designate different beneficiaries to