Health · Chapter 18 · Mandatory Provisions
Change of Beneficiary Provision
Definition
Mandatory provision: the policyowner may change a revocable beneficiary at any time, but cannot change an irrevocable beneficiary without that beneficiary's written consent. Appears in health policies that carry a death benefit (e.g., AD&D).
In plain English
Revocable = your call, anytime. Irrevocable = need their signature.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms