Lance owns an insurance policy and pays the premiums where he named his son an irrevocable beneficiary. His adult son is currently out of the country, and Lance is willing to change the beneficiary designation to the estate. Can Lance carry out this action 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.
Lance owns an insurance policy and pays the premiums where he named his son an irrevocable beneficiary. His adult son is currently out of the country, and Lance is willing to change the beneficiary designation to the estate. Can Lance carry out this action 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.
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Lance owns an insurance policy and pays the premiums where he named his son an
irrevocable beneficiary. His adult son is currently out of the country, and Lance is
willing to change the beneficiary designation to the estate. Can Lance carry out this
action 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.
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