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2 February, 11:45

A policyowner would like to change the beneficiary on an accidental death and dismemberment insurance policy and make the change permanent. Which type of designation would fufill this need?

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  1. 2 February, 12:09
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    Answer: this type of designation is called irrevocable.

    Explanation:

    Even the insured cannot change the status of an irrevocable beneficiary once they are named. Children are often named irrevocable beneficiaries.
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