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What is the difference between “revocable beneficiary” and “irrevocable beneficiary”
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[QUOTE="Deleted member 28873, post: 83227"] I just heard about this, i was a bit confused at first.An irrevocable beneficiary has certain guaranteed rights to assets held in the policy or fund. Unlike arrevocable beneficiary, where their right to assets can be denied or amended under certain circumstances. ... Even the insured cannot change the status of an irrevocable beneficiary once they are named.An irrevocable beneficiary cannot be change when done even if the insured feels that the beneficiary doesnt reserve deserve it.It requires great trust to place an irrevocable beneficiary on a person. [/QUOTE]
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What is the difference between “revocable beneficiary” and “irrevocable beneficiary”
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