Form F68444 - Group Life Insurance Beneficiary Designation Page 2
Download a blank fillable Form F68444 - Group Life Insurance Beneficiary Designation in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form F68444 - Group Life Insurance Beneficiary Designation with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3Naming your estate. If you designate your estate, the distribution of the insurance proceeds will be determined by
your will, or Illinois' intestacy laws, if you leave no will. You may want to discuss any possible implications of naming
your estate as beneficiary with your attorney or a legal advisor.
If you want to name your estate as beneficiary, simply write the word "Estate" on the
form.
Beneficiary Designation
Do not include the name of your personal representative or the executor. The benefit will be made payable to your
Estate. It will be the responsibility of your executor to distribute the proceeds as outlined in your will.
Naming a trust. You can name a living trust or a testamentary trust as your beneficiary.
A S M B U L L B U L L
Living Trust. A living trust can be set up at a bank or other financial institution. The implications of setting up
a living trust, including the tax consequences, should be discussed with the representatives of the institution
where you are setting up the trust.
To name a living trust, you must include the following: 1) the specific name of the trust, 2) the date the trust
was created, 3) the name of the trustee, followed by the word "trustee", and 4) the trustee's address.
We recommend that a successor trustee other than yourself be included in your designation of a living trust.
Upon your death the successor trustee will be contacted about the death benefits payable.
As an example: John Doe, as Trustee under the written Trust Agreement dated 01/02/2000; Jane Doe,
successor Trustee, 123 Main St., Anytown, IL 65432
A S M B U L L B U L L
Testamentary trust. A testamentary trust does not come into existence until you die and any preconditions
established by your will are met. Usually a will must be probated before a death benefit can be paid to a
testamentary trust. You should take this fact into consideration if you decided to name a testamentary trust.
A testamentary trust must include the following: 1) the specific name of the trust, and 2) "created under my
last Will and Testament".
As an example: The Doe Family Trust created in my last Will and Testament
F68444 Rev 12-2011
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Gr-tr-bene-emp1_pearson - Metlife Group Term Life Insurance Beneficiary Designation - 2015
Legal
Form Gr-tr-bene-emp2-32bj - Metlife Group Term Life Insurance Beneficiary Designation - 2013
Business
Related Categories
Parent category: Legal