A life insurance policy beneficiary who has a vested interest in the policy proceeds even during the insured's lifetime because the policyowner has the right to change the beneficiary designation only after obtaining the beneficiary's consent. Contrast with revocable beneficiary.
see Beneficiary. Life Expectancy - the anticipated remaining life of the insured. Generally, insurance companies use mortality table to estimate life expectancies. In lifetime settlements life expectancy is determined through the insured's medical records and appropriate experiential data.
a beneficiary whose interest cannot be revoked without that individual's written consent, usually because the policyowner has made the beneficiary designation without retaining the right to revoke or change the designation
A type of beneficiary whose right to receive the policy proceeds can not be changed by the policy owner at any time prior to the insured's death without the beneficiary's consent.
A beneficiary who cannot be removed later by the policyholder, without the beneficiary's consent.
A beneficiary designation that may not be changed without the written consent of the named beneficiary.
A beneficiary designation which requires that written consent be obtained from named beneficiaries before adding or removing beneficiaries and before making changes to the insurance coverage.
Beneficiary whose interests cannot be revoked without his or her written consent, usually because the policyowner has made the beneficiary designation without retaining the right to revoke or change it.
A beneficiary whose rights to the proceeds of a life insurance policy cannot be cancelled by the policyowner unless the beneficiary consents. See also beneficiary. | Back
A named beneficiary whose rights to life insurance policy proceeds are vested and whose rights cannot be canceled by the policy owner unless the beneficiary consents.
A beneficiary who can be changed only through written consent from that beneficiary.
A beneficiary designation that cannot be changed without the consent of the beneficiary. This is sometimes used in business insurance or divorce situations.
A beneficiary who cannot be removed from a contract or policy without his or her consent. (See also: revocable beneficiary) Return to Previous
A beneficiary that cannot be changed without that beneficiary's consent.
A beneficiary whose interest cannot be cancelled without his or her consent.
A beneficiary who can be changed only by written consent of that beneficiary.
A type of beneficiary that cannot be changed without their consent.
A beneficiary designation that cannot be changed by the insured without consent from the beneficiary.
A beneficiary that cannot be changed without his consent.
A named beneficiary whose rights to life insurance policy proceeds cannot be cancelled or changed by the policyowner unless the beneficiary consents. RETURN TO THE TOP
A life insurance policy beneficiary designation which prevents the beneficiary designation from being changed unless the owner first obtains the irrevocable beneficiary's written consent.
Beneficiary designation allowing no change to be made in the beneficiary of an insurance policy without the consent of the named beneficiary.
A beneficiary in a life insurance policy or segregated fund contract whose compensation cannot be changed without his or her consent.
Beneficiary designation allowing no change to be made in the beneficiary of an insurance policy without the beneficiary's consent.