Which beneficiary status requires the policy owner's consent for policy changes?

• A. Revocable beneficiary
• B. Primary beneficiary
• C. Contingent beneficiary
• D. Irrevocable beneficiary

Answer: (D)

Having an irrevocable beneficiary means the beneficiary has a guaranteed, fixed right to the policy proceeds. Because that interest is secured, the policy owner cannot make changes that would affect the beneficiary without the irrevocable beneficiary’s consent. In practice, this means you cannot name a different beneficiary, remove the designation, or alter terms in a way that would change the payout without the beneficiary agreeing. This contrasts with revocable beneficiaries, whom the owner can change or revoke at any time without that consent. Primary and contingent simply describe the order of beneficiaries, not the consent requirement. So the status associated with needing the beneficiary’s consent for changes is irrevocable.