6. Write the name of the primary beneficiary you wish to replace. (In the example, this would be the cousin`s name.) Make sure your form is accepted by the ETF by following these guidelines when entering your information: Use this alternative beneficiary designation form to determine who will receive a major beneficiary`s share of your WRS retirement and wisconsin public employer life insurance. Q. What is a Secure Access account? A Secure AccessSM account is an interest-bearing draft account that is an alternative to receiving a product as a lump sum by check. If you select this billing option, we will send you a draft book to access your account balance so that you can access all or part of the balance at any time. You can always write a draft to withdraw the entire balance, including interest, without fees or penalties. For more information about a Secure Access account, call our Secure Access customer service team at 800.206.4066 from 8:30 a.m a.m to 4:30 p.m.m.m Eastern Time, Monday through Friday. If you would like to designate different beneficiaries for benefit plans or separate accounts, please contact the ETF toll-free at 1-877-533-5020 to request special forms and instructions. Q. Are there any special requirements if the insured person died in a foreign country, that is, outside the United States or its territories? We require a certified original death certificate and, if applicable, a document about the death of a U.S.
citizen abroad. A document about the death of a U.S. citizen abroad is not an acceptable substitute for a certified original death certificate. In addition, we may require a questionnaire about death abroad, a cancelled passport, a copy of airline tickets, funeral invoices/cremations, transport information/invoices or any other information we deem necessary due to the specific circumstances of your claim. To avoid delays, you should contact us immediately for detailed instructions. Q. What is “capacity”? Capacity is the legal authority that gives you the right to claim the product. If you are making claims on your own behalf, you are an “individual claimant” and you must indicate your status as an individual.
Do not use any other “title” unless you actually claim it as such. For more information, see Instructions for specific candidates and Instructions for signing as a holder. Q. Who is the “applicant”? An applicant is the natural or legal person who applies for a death benefit under a policy. Each recipient must complete a separate declaration from the applicant. 5. Write down the names of the first beneficiaries you wish to receive after your death. You can designate one or more people, institutions (e.B.g., a charity, business, religious organization, funeral home, etc.), trust or estate. You can name several. All listed primary beneficiaries will receive EQUAL SHARES (equal amounts) of your benefit, unless you specify different percentages. For instructions on how to name a beneficiary, see Naming a beneficiary.
The purpose of including the trustee`s name is to give the ETF the name of a person to contact after your death to locate the trust. The ETF may refuse your designation if a trust is designated as a secondary beneficiary and you have designated a person designated as the primary beneficiary as trustee. In this case, please provide a successor trustee or other contact person. ETF pays the court-appointed guardian of the child or the person the ETF calls the child`s “natural guardian”. This is the person who cares for or cares for the child, that is, the child.B parent. ETF can also deposit into a Uniform Transfer to Minors (UTMA) account for the child. Once you have received your application form, please complete it and send it back to us: a beneficiary is the natural or legal person who is entitled to the death benefit from the pension contract or life insurance policy. The types of beneficiaries can be an individual, a minor, a trust, an estate or an eligible pension plan. Q. What is an IRS 712 form? IRS Form 712 is a gift or estate tax form that may need to be filed with the deceased`s final estate tax return.
At the request of the estate administrator/executor, we complete this form to indicate the value of the policy at the time of death. For more information, please contact your lawyer or tax advisor. Upon receipt of the required documents, we will process your request within 10 business days or within applicable government requirements. Depending on the option chosen, the payment will be sent to the beneficiary. A confirmation letter is also sent under separate cover which includes payment and tax details. Q. Once I have completed the life insurance application form, can I fax it to you? Yes, you can fax the completed and signed application form to 434.948.5783. Please note that a certified original death certificate may be required, which may not be accepted by fax.
Note: If a claim is not filed within a certain number of years of death, it will be considered unclaimed property and will be sent to the state in accordance with the state`s requirements. This form does not apply to the Wisconsin Deferred Compensation Program. Use the WDC online beneficiary form to determine who will receive your WDC benefits after your death. Q. If I make a mistake, how can I change the information in the applicant`s statement? Put a line with an incorrect answer and insert the correct information. DO NOT use corrective liquid. The applicant must initiate all corrections. You must provide the ETF with sufficient information so that the ETF can find and identify the trust at the time of payment to the trust. You must provide the following beneficiary designation information: Q. Can I copy this life insurance application form for use by other applicants? Yes.
You can copy the blank form to make it available to other beneficiaries. Your death benefit options may vary depending on your retirement policy or life insurance policy. For more information about the information available, see the application form. The amount of the death benefit you receive under the contract or policy may also vary depending on the payment option you have chosen for the death benefit. 11. Unless you specify which benefit this form applies to, the ETF will apply the benefits payable from this form upon your death to all benefit plans and accounts managed by the ETF. You can allocate a percentage of your benefit to your beneficiaries. The percentages shown must be 100%. To assign a percentage to a beneficiary, set the percentage before or after their name. For example: Provide the following information about the designation of the recipient: At times like these, financial matters may be the last thing you think about.
That`s why we`ve designed our three-step claims process – so you can focus on the essentials. 12. Sign and date your form for acceptance by the ETF. If your form is not signed and dated, ETF will not be able to validate your form. Call 1-877-533-5020 (toll-free) if you have any questions or need help filling out your form. You can NOT name the natural person, corporation, trust or estate more than once on the form. For example, in the primary and secondary zone. If you do not submit a beneficiary designation to the ETF, your benefits will be paid in the “standard sequence” order, which is part of Wisconsin law. Payment is made to the person(s) in the group whose lowest number contains one or more living persons. Q. If I sign as a power of attorney for the applicant, what do I need to submit as evidence? Submit a copy of the executed Power of Attorney Documents (POAs) that give you the authority to collect the proceeds.
You must sign the Life Claim Form and indicate your status as a “common-law lawyer” for the beneficiary. Example of correct signature: Jane Doe by John W. Doe, common-law attorney under the power of attorney on the date MM/DD/YYYY. Q. What do I need to provide to validate the name change if the recipient`s name has changed since the recipient was last named? If a beneficiary`s name has changed due to marriage or divorce, we will need a copy of the marriage certificate or divorce decree. If the beneficiary`s name has changed due to personal preferences, we will need a court document indicating the name change from birth name to the requested name. Q. Why does a beneficiary have to complete an applicant`s declaration when there is a guarantee session? In order to avoid possible disagreements as to the amount allocated to the beneficiary and the guarantee. Tax forms can be sent to the beneficiary within one year of payment. A death requires the beneficiary to complete and return the application form with a copy of the certified death certificate. Click the Start Claim button to start the claim process.
Note: Additional documentation may be required if you are a minor beneficiary, trust beneficiary, estate beneficiary, foreign beneficiary or eligible beneficiary of a pension plan. Specify who should go the share of an adult beneficiary if he dies before you. For example, if you name your three cousins as primary beneficiaries, you can name each cousin`s children as other primary beneficiaries. Then, if a cousin dies before you, his share is divided among his children, who are designated as alternative main beneficiaries. For instructions on how to designate a beneficiary, see Naming a beneficiary. If you are designating a trust as a beneficiary, please do not attach escrow documents with your beneficiary form. ETF does not need these documents at this time. The Genworth Financial family of companies manages life insurance contracts sold by several companies.
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