3206 0136 Designation of Beneficiary Federal Employees Group Life Insurance Federal Employees' Group Life Insurance FEGLI P Form
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People also ask
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What is a beneficiary designation under a group life insurance policy?
Your primary beneficiary is first in line to receive your death benefit. If the primary beneficiary dies before you, a secondary or contingent beneficiary is the next in line. Some people also designate a final beneficiary in the event the primary and secondary beneficiaries die before they do. -
What does employee beneficiary designation mean?
A beneficiary is the person or entity named in a life insurance policy, retirement plan or health savings account. This is the person that receives the benefit upon death. The beneficiary designation on file at the time of death is binding in the payment of your benefits. -
Who do I put for beneficiary designation?
Name only living persons as beneficiaries, unless you are naming a trust, your estate or an organization. Do not name the same person or organization as both a primary and secondary beneficiary. Do not use the word “or” when designating multiple beneficiaries. Do not impose any conditions on payment. -
What are the 3 types of beneficiaries?
A primary beneficiary is the person (or people or organizations) you name to receive your stuff when you die. A contingent beneficiary is second in line to receive your assets in case the primary beneficiary passes away. And a residuary beneficiary gets any property that isn't specifically left to another beneficiary. -
Where do I mail the FEGLI designation of beneficiary?
Submit the designation form to: Office of Personnel Management, Retirement Operations Center, P.O. Box 45, Boyers, PA 16017-0045. -
Can an employee name anyone as their beneficiary?
You may name anyone as your beneficiary, except for the employer or policyholder. Your beneficiary can be the person or persons for whom you wish to provide financial protection in the event of your death. Usually, beneficiaries are relatives or very close friends. -
What is the FEGLI designation of beneficiary?
FEGLI enrollees and assignees use this form to designate who should receive the death benefits. NOT required if the enrollee or assignee has not filed a previous designation of beneficiary and is satisfied with the standard order of precedence . -
What is employee beneficiary designation?
A beneficiary is the individual or entity designated to receive proceeds from the life coverage upon the insured's death. It is the employer's responsibility to maintain beneficiary records on behalf of employees. Employees designate beneficiary(ies) when completing the initial enrollment form for coverage.
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