Sharon is the policy owner of a $50,000 life insurance policy. Her son, Mike, is the beneficiary. If Sharon MUST obtain Mike’s signature in order to change the beneficiary, what kind of beneficiary designation is this?

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Sharon is the policy owner of a $50,000 life insurance policy. Her son, Mike, is the beneficiary. If Sharon MUST obtain Mike’s signature in order to change the beneficiary, what kind of beneficiary designation is this?

Options

Tertiary
Contingent
Revocable
Irrevocable

Answer: Irrevocable

The above question Sharon is the policy owner of a $50,000 life insurance policy. Her son, Mike, is the beneficiary. If Sharon MUST obtain Mike’s signature in order to change the beneficiary, what kind of beneficiary designation is this?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.