F2. ListenLance owns an insurance policy and pays the premiums where he named his son anirrevocable beneficiary. His adult son is currently out of the country, and Lance iswilling to change the beneficiary designation to the estate. Can Lance carry out thisaction without the consent of his son?No, since his son is named as it is an irrevocable beneficiary.No, since he has to get special approval from the insurance company.Yes, since he is the policy owner.Yes, since he's paying the policy premiums.

A beneficiary in an insurance policy can be defined as a person who has been designated by the…

Answered: Lance owns an insurance policy and pays…

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