Fidelity Survivor Benefits Checklist

Having a Fidelity Survivor Benefits Checklist is essential for individuals who want to ensure that their loved ones are financially protected in the event of their death. This checklist serves as a guide to help individuals navigate the process of accessing survivor benefits offered by Fidelity, a leading financial services company. By following this checklist, individuals can ensure that they have taken all the necessary steps to secure the financial well-being of their beneficiaries.

Details for Fidelity Survivor Benefits Checklist

1. Gather important documents:

Before contacting Fidelity, it is crucial to collect important documents such as the deceased's Social Security number, death certificate, will, and any relevant Fidelity account information. These documents will be required during the claims process.

2. Contact Fidelity:

Reach out to Fidelity's customer service or survivor support team to inform them about the death of the account holder. They will guide you through the next steps and provide the necessary forms and instructions.

3. Provide necessary information:

Fidelity will require specific information about the deceased, including their full name, date of birth, Fidelity account numbers, and any relevant beneficiary information. Ensure you have this information readily available when contacting Fidelity.

4. Understand survivor benefits options:

Familiarize yourself with the survivor benefits options available through Fidelity. These may include life insurance proceeds, retirement account distributions, annuity payments, and other potential benefits. Understanding these options will help you make informed decisions.

5. Review beneficiary designations:

Check the beneficiary designations on all Fidelity accounts held by the deceased. Ensure they are up to date and accurately reflect the intended beneficiaries. If any changes are necessary, follow the designated process to update the beneficiaries.

6. Evaluate additional financial support:

Consider if there are other financial resources available to the surviving beneficiaries. This may include evaluating potential survivor benefits from other sources, such as employer-sponsored plans, government benefits, or personal life insurance policies.

7. Seek professional advice:

It can be beneficial to consult with a financial advisor or estate planning attorney who specializes in survivor benefits. They can provide guidance on the best strategies to maximize the benefits and address any legal or financial considerations.

8. Communicate with beneficiaries:

Keep open lines of communication with the beneficiaries to ensure they are aware of the steps being taken and understand their rights and responsibilities. Regular updates and clear communication can help alleviate stress during this challenging time.

FAQ for Fidelity Survivor Benefits Checklist

1. Can I start the survivor benefits claims process before contacting Fidelity?

It is advisable to contact Fidelity first to understand their specific requirements and procedures. They will guide you on the necessary steps to initiate the claims process.

2. What happens if there are multiple beneficiaries listed on the Fidelity account?

If there are multiple beneficiaries, Fidelity will distribute the survivor benefits according to the designated percentages or as specified in the account owner's will.

3. How long does it typically take to receive survivor benefits from Fidelity?

The processing time may vary depending on factors such as the complexity of the case and the completeness of the required documentation. Fidelity will provide an estimated timeline during the claims process.

4. What if I am unsure about the survivor benefits options available to me?

Fidelity's survivor support team can provide guidance and information on the available survivor benefits options based on the account owner's specific circumstances.

5. Is it necessary to update the beneficiary designations after major life events?

Yes, it is crucial to review and update beneficiary designations periodically, especially after major life events such as marriage, divorce, birth of children, or the passing of a beneficiary.

In Summary

A Fidelity Survivor Benefits Checklist is an invaluable tool for individuals who want to ensure their loved ones are financially protected in the event of their death. By following this checklist, individuals can navigate the process of accessing survivor benefits offered by Fidelity with confidence and ease. Gathering important documents, contacting Fidelity, understanding the available benefits options, reviewing beneficiary designations, and seeking professional advice are all crucial steps to take. By proactively addressing these aspects, individuals can provide financial security to their beneficiaries during challenging times.

ChecklistComplete

Fidelity Survivor Benefits Checklist

Gather important documents.

Contact Fidelity.

Provide necessary information.

Understand survivor benefits options.

Review beneficiary designations.

Evaluate additional financial support.

Seek professional advice.

Communicate with beneficiaries.