Which designation cannot be changed without the written consent of the beneficiary?

Which designation cannot be changed without the written consent of the beneficiary?

• A. Per stirpes designation
• B. Irrevocable designation
• C. Revocable designation
• D. Suicide clause

Answer: (B)

The action being tested is who must agree to changes to a beneficiary designation. The key idea is that some designations are binding and require the beneficiary’s consent to make changes. An irrevocable beneficiary designation means the named beneficiary has a protected interest in the policy. Because of that, the policy owner cannot change or remove that beneficiary without obtaining the beneficiary’s written consent. That’s why this designation cannot be altered without the beneficiary’s agreement. In contrast, a revocable designation allows the policy owner to change the beneficiary at any time without needing anyone else’s consent. The other options—per stirpes and a suicide clause—are not about consent to change who receives the payout. A per stirpes designation describes how proceeds are distributed among descendants, and a suicide clause is a policy provision about payout timing if death results from suicide within a specified period.

The action being tested is who must agree to changes to a beneficiary designation. The key idea is that some designations are binding and require the beneficiary’s consent to make changes.

An irrevocable beneficiary designation means the named beneficiary has a protected interest in the policy. Because of that, the policy owner cannot change or remove that beneficiary without obtaining the beneficiary’s written consent. That’s why this designation cannot be altered without the beneficiary’s agreement.

In contrast, a revocable designation allows the policy owner to change the beneficiary at any time without needing anyone else’s consent. The other options—per stirpes and a suicide clause—are not about consent to change who receives the payout. A per stirpes designation describes how proceeds are distributed among descendants, and a suicide clause is a policy provision about payout timing if death results from suicide within a specified period.