Is it possible that you have not named a contingent or secondary beneficiary on your life insurance or not know whom you have named as your beneficiary?
You can name Mobile Loaves & Fishes as your primary or contingent (secondary) beneficiary on your investment accounts. Please consider reviewing your beneficiary information and designating Mobile Loaves & Fishes as your primary or contingent (secondary) beneficiary on your 401(k), 403(b), IRA, Annuities, or Life Insurance policy.
These assets require separate beneficiary forms. The beneficiaries of these assets can be easily modified at any time to meet your changing needs. For workplace accounts, you may be able to make your designation online or through your HR department. For private accounts, you can contact the investment company to request a beneficiary designation form.
Please use the following language:
“I designate Mobile Loaves & Fishes, Inc. to receive the sum of [$ ______ or ____ % of my account/policy].”
Because most retirement plans are tax-deferred and therefore subject to income tax to your beneficiaries, retirement assets make ideal gifts to Mobile Loaves & Fishes. Naming Mobile Loaves & Fishes as the beneficiary of retirement assets upon death generates no income taxes. The benefit to Mobile Loaves & Fishes will be tremendous at your passing. Your legacy will be carried on far into the future!