Death Benefits Clerk Question:
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Explain me what is the difference between “revocable beneficiary” and “irrevocable beneficiary”?
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Answer:
‘Revocable beneficiary’ designation gives right to the policy holder to change the beneficiary name without the consent of the named beneficiary. While in ‘Irrevocable beneficiary’ the policy holder has to take consent of the beneficiary before the name is changed.
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