Claim Form for Structured Settlements

Transcription

1 Claim Form for Structured Settlements New York Life Insurance Company New York Life Insurance and Annuity Corp. A Delaware Corp. The Company You Keep

2 Important Information for Completing Your Claim Form To complete the processing of your claim, we must have a completed Claim Form from each beneficiary plus one certified death certificate. If there are multiple beneficiaries, please photocopy the form. DO NOT send the original policies back. INCOME TAX CERTIFICATION AND WITHHOLDING Important State Income Tax Withholding Information In addition to the Federal income tax withholding requirements, some states require withholding on policy gains when federal income tax is withheld. The following states require state income tax withholding when federal income tax withholding is in effect: Iowa, Kansas, Maryland, Massachusetts, Nebraska, Oklahoma and Virginia. If you live in Arkansas, California, Delaware, Georgia, Maine, North Carolina, Oregon or Vermont, we are required to withhold state income tax if federal income tax withholding is in effect, unless you elect not to have state income tax withheld. Certain exceptions and special rules apply in some states. For more information regarding the withholding requirements applicable in your state, please consult your tax advisor or state tax authority. Important Federal Income Tax Withholding Information This information is required to carry out the Internal Revenue laws of the United States and to provide you with some basic information about withholding of Federal income tax from your payment under the policy specified in the Income tax withholding election (Section 4). Generally, Federal withholding applies to taxable payments made from pension, profit sharing, stock bonus, annuity and other employer deferred compensation plans, individual retirement arrangements (IRA), and commercial annuities (which include individual annuity, life insurance and endowment policies). Federal income tax must be withheld at a 10% rate unless you elect not to have withholding apply to the taxable portion of your payment. You can make the election by checking the appropriate box in the Income tax withholding election in Section 4. Non-persons such as corporations, companies, trust, etc., or US citizens living outside the United States cannot elect out of withholding. Generally, your election as to whether taxes are or are not to be withheld will apply to any other payment from the same policy. If you are eligible for a settlement option of continued income payments, you may change this election at any time. Even if you elect not to have Federal income tax withheld, you are liable for payment of such tax on the taxable portion of your payment. There are penalties under the estimated tax payment rules if enough tax has not been paid through estimated tax payments or withholding. If the taxable portion of a payment when added to the taxable portion of all other payments during the year is less than $200, Federal income tax is not required to be withheld. We will not withhold Federal income tax if the payment is being made to the Trustees of a qualified pension or profit sharing plan. Please consult your tax advisor for complete details of the rules discussed above. WHERE TO RETURN YOUR CLAIM FORM If you are not using the return envelope provided, please direct all claim documents to: Structured Settlements 51 Madison Avenue, Room 809, New York, NY If you have any questions, please call

3 Claim Form Please print clearly. 1. List below only the policies under which you are making a claim 2. Deceased Annuitant Information Name of Deceased First Middle Last Birthdate Deceased s of Deceased Place of Birth Deceased s of Death Manner of Death 3. Beneficiary Information Beneficiary Name Capacity under which you are making this claim Check one State State of Residence at Time of Death Nickname or Maiden Name Country Natural Accident Homicide Suicide Unknown Other Relationship to Insured Spouse Child Grandchild Parent Other Birthdate of Daytime Beneficiary Phone Residential Address of Beneficiary Street Apt # City State Zip Mailing Address of Beneficiary Street Apt # City State Zip Individual Beneficiary Minors: Unless benefits are being paid under the Uniform Transfers/Gifts to Minors Act (UTMA/UGMA), proof of legal guardianship is required for the person and estate or just the estate of the minor beneficiary. The Minor s Social Security Number should be provided below. Legal guardian should sign the Claim Form. Corporation: A Copy of the corporate resolution may be required. Enter Corporate Tax ID below. Claim Form must be signed by Corporate Officer(s). Estate: Be sure to submit a copy of the certified appointment papers and provide Estate Tax ID below. Claim Form must be signed by all Estate Representatives. Trust: Copy of Trust or amendments may be required. Provide Trust Tax ID below and complete Confirmation of Trust form. Both Claim Form and Confirmation of Trust must be signed by all Trustees. Income Tax Certification Enter your Social Security Number if you are an individual beneficiary Social Security Number OR Enter Taxpayer Identification Number if claiming benefits as an Estate, Trust or Corporation Taxpayer Identification Number Back-up Withholding Check if this statement applies I have been notified by the Internal Revenue Service that I am subject to back-up withholding as a result of failure to report all interest or dividends. 4. Tax Withholding Section For attorney fee policies / Non-structured settlements Please check only one box below. You should consider very carefully which box you check. Read Important Tax Information on page 2 of this form. Please consult with a tax, investment or other financial advisor if you have any questions about tax withholding. If a withholding election is NOT selected, we are required by Federal law to withhold 10% of any taxable gain that may result from this transaction. Amounts withheld will not be refundable. I DO NOT want to have Federal Taxes withheld. I DO want to have % Federal Income Tax Withheld (10% minimum), along with any applicable State Income Tax withholding. 5. Beneficiary s Signature REQUIRED Any person who knowingly, with intent to defraud an insurance company or other persons, files an application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act, which is a crime, and shall also be subject to a civil penalty not to exceed five thousand dollars and the stated value of the claim for each such violation. Please refer to the enclosed page entitled STATE VARIATIONS OF FRAUD WARNINGS for specific notices required in certain jurisdictions. I certify, under penalty of perjury, that the Social Security or Taxpayer Identification Number and back-up withholding status information in Section 3 are correct. I further certify that I am a U.S. person, including a U.S. resident alien (non-u.s. person must also complete form W-8BEN). The Internal Revenue Service does not require your consent to any provision of this document other than the certifications required to avoid back-up withholding. 8 Signature (REQUIRED) SS20838A (7/2011) 3

4 6. Confirmation of Trust Complete ONLY if beneficiary of policy is a TRUST A Copy of the Title, Signature, and Notary pages of Trust, including the pages showing the Trustee and Successor Trustee information may be required. Policy Number(s) Deceased Annuitant First Middle Last Name of Trust Tax ID of Trust Agreement Please select the statement below that applies: The undersigned trustee(s) hereby certifies/certify that no oral or written notification has been received that the Trust Agreement d has been revoked or amended. OR The undersigned trustee(s) hereby certifies/certify that the trust created by the Trust Agreement d has been revoked. OR The undersigned trustee(s) hereby certifies/certify that the trust created by the Trust Agreement d was amended on If there are additional amendments, please provide all dates. If acting as Successor Trustee(s) please also complete the following statement: The undersigned Successor Trustee(s) hereby certifies/certify that the original trustee(s), Original Trustee(s) Name(s) is/are no longer serving as trustee(s). I / We certify that the right to serve as trustee(s) has not been revoked or renounced. The following signatory(ies) has/have been appointed as trustee(s) and is/are the only acting trustees for the aforementioned trust agreement. TRUSTEE(S) NAME(S) (please print) TRUSTEE(S) SIGNATURE(S) * If the trust has more than one trustee or successor trustee, please have all sign in the space provided above.* 4 SS22716 (7/2011)

5 State Variations of Fraud Warnings Kindly refer to the applicable fraud warnings for your state of residence. Arizona Fraud Warning For your protection Arizona law requires the following to appear on this form. Any person who knowingly presents a false or fraudulent claim for payment of a loss is subject to criminal and civil penalties. California Fraud Warning For your protection California Law requires the following to appear on this form: any person who knowingly presents a false or fraudulent claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement in state prison. Colorado Fraud Warning It is unlawful to knowingly provide false, incomplete or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies. District of Columbia Fraud Warning Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison. Florida Fraud Warning Any person who knowingly and with intent to injure, defraud, or deceive any insurer files a statement of claim or an application containing any false, incomplete, or misleading information is guilty of a felony of the third degree. Maryland Fraud Warning Any person who knowingly and willfully presents a false or fraudulent claim for payment of a loss or benefit or who knowingly and willfully presents false information in an application for insurance is guilty of a crime and may be subject to fines and may be subject to fines and confinement in prison. New Jersey Fraud Warning Any person who knowingly files a statement of claim containing any false or misleading information is subject to criminal and civil penalties. Oregon Fraud Warning Willfully falsifying material facts on an application or claim may subject you to criminal penalties. Pennsylvania Fraud Warning Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which is a crime and subjects such person to criminal and civil penalties. Puerto Rico Fraud Warning Any person who knowingly and with the intention of defrauding presents false information in an insurance application, or presents, helps, or causes the presentation of a fraudulent claim for the payment of a loss or any other benefit, or presents more than one claim for the same damage or loss, shall incur a felony and, upon conviction, shall be sanctioned for each violation with the penalty of a fine of not less than five thousand dollars ($5,000) and not more than ten thousand dollars ($10,000), or a fixed term of imprisonment for three (3) years, or both penalties. If aggravating circumstances are present, the penalty thus established may be increased to a maximum of five (5) years, if extenuating circumstances are present, it may be reduced to a minimum of two (2) years. Virginia Fraud Warning It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines and denial of insurance benefits. Fraud Warning For All Other States Any person who knowingly and with the intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act, which is a crime and subjects such person to criminal and civil penalties. Penalties may include imprisonment, fines, or a denial of insurance benefits if a person provides false information. 5

6 For Residents of Kansas GENERAL PURPOSES AND LIMITATIONS OF THE KANSAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION K.S.A et.seq. DISCLAIMER THE KANSAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION MAY NOT PROVIDE COVERAGE FOR ALL OR A PORTION OF THIS POLICY. IF COVERAGE IS PROVIDED, IT MAY BE SUBJECT TO SUBSTANTIAL LIMITATIONS AND EXCLUSIONS, AND IS CONDITIONED UPON RESIDENCY IN THIS STATE. THEREFORE, YOU SHOULD NOT RELY UPON COVERAGE BY THE KANSAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION IN SELECTING AN INSURANCE COMPANY OR IN SELECTING AN INSURANCE POLICY. INSURANCE COMPANIES AND THEIR AGENTS ARE PROHIBITED BY LAW FROM USING THE EXISTENCE OF THE KANSAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION IN SELLING YOU ANY FORM OF AN INSURANCE POLICY, OR TO INDUCE YOU TO PURCHASE ANY FORM OF AN INSURANCE POLICY. EITHER THE KANSAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION OR THE KANSAS INSURANCE DEPARTMENT WILL RESPOND TO ANY QUESTIONS YOU HAVE REGARDING THIS DOCUMENT. THE KANSAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION THE KANSAS INSURANCE DEPARTMENT 2909 SW MAUPIN LANE 420 SW 9TH STREET TOPEKA, KANSAS TOPEKA, KANSAS This is a brief summary of the Kansas Life and Health Insurance Guaranty Association ( the Association ) and the protection it provides for policyholders. If there is any inconsistency between this notice and Kansas law, then Kansas law will control. The Association was established to provide protection in the unlikely event that your life, annuity or health insurance company becomes financially unable to meet its obligations and is taken over by its Insurance Department. If this should happen, the Association will typically arrange to continue coverage and pay claims, in accordance with Kansas law, with funding from assessments paid by other insurance companies. This safety net was created under Kansas law, which determines who and what is covered and the amounts of coverage. The basic protections provided by the Association are: n Life Insurance $300,000 in death benefits $100,000 in cash surrender or withdrawal values n Health Insurance $500,000 in hospital, medical and surgical insurance benefits $300,000 in disability insurance benefits $300,000 in long-term care insurance benefits $100,000 in other types of health insurance benefits n Annuities $250,000 in withdrawal and cash values The maximum amount of protection for each individual, regardless of the number of policies or contracts, is $300,000. Special rules may apply with regard to hospital, medical and surgical insurance benefits, as well as certain aggregate limits. H (1/10) 6 If insolvency occurs, a lengthy delay is possible before proceeds can be obtained.

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8 New York Life Insurance Company New York Life Insurance and Annuity Corp. A Delaware Corp. SS20838A (7/2011)