Understand Policy Owner Rights Limits: Beneficiary Designation Impacts
Choosing a beneficiary for your life insurance policy or other assets significantly impacts your control over those assets, both during your lifetime and after your death. Understanding the implications of different beneficiary designations is crucial for effective financial planning. For more on asset control, see estate planning challenges. Irrevocable Beneficiary Designations: Limited Control, Enhanced Certainty An irrevocable beneficiary designation severely restricts your ability to change the beneficiary of your policy once it's been established....