A life insurance policy beneficiary whose right to the policy's proceeds can be cancelled or reduced by the policyowner at any time before the insured's death. Contrast with irrevocable beneficiary.
The beneficiary under a life insurance policy whose designation as beneficiary can be changed at the discretion of the policy owner.
In life insurance, a beneficiary whose rights in a policy are subject to the insured's right to revoke or change the beneficiary designation and the right to surrender or make a loan on the policy without the consent of the beneficiary.
A beneficiary whose rights are subject to the rights of the policyowner who may revoke or change the beneficiary designation and exercise any ownership rights under the policy without the beneficiary's consent. Compare to Irrevocable Beneficiary.
This designation means the policy owner can change the beneficiary without the beneficiary's consent.
In life insurance, a beneficiary whose rights in the policy are subject to the policyowner's reserved right to revoke or change the beneficiary designation at any time and without the consent of the beneficiary.
A type of beneficiary whose right to receive the policy proceeds can be changed by the policy owner at any time prior to the insured's death without the beneficiary's consent.
A life insurance beneficiary designation that may be changed by the owner.
Beneficiary designation allowing the policyowner the right to change the beneficiary without consent of the beneficiary.
A named beneficiary whose rights to the life insurance policy proceeds can be revoked or changed by the policyowner at any time prior to the insured's death in accordance with the policy's instructions and conditions.
The second person named to receive benefits upon the death of an insured if the first-named beneficiary is not alive or does not collect all the benefits before his or her own death.
A life insurance beneficiary who can be removed or changed, by the policyowner, at any time prior to the death of the insured.
A beneficiary who can be removed by the owner from a contract or policy without his or her consent. (See also: irrevocable beneficiary) Return to Previous
The beneficiary in a life insurance policy in which the owner reserves the right to revoke or change the beneficiary. Most policies are written with a revocable beneficiary.
A named beneficiary whose right to life insurance policy proceeds is not vested during the insured's lifetime and whose designation as beneficiary can be cancelled by the policy owner at any time prior to the insured's death.
A person designated as beneficiary that may be removed or changed at the discretion of the policyowner.
A type of beneficiary that can be changed as needed; most common type.
A life insurance policy whose designation as beneficiary can be revoked or changed by the policyowner at any time prior to the insured's death.
A beneficiary in a life insurance policy or segregated fund contract whose compensation can be changed or terminated without their consent.
