Irrevocable Beneficiary

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Dictionary Says

Definition of 'Irrevocable Beneficiary'

A beneficiary in a life insurance policy or segregated fund contract whose compensation cannot be changed without his or her consent.
Investopedia Says

Investopedia explains 'Irrevocable Beneficiary'

If a parent wanted to leave money to a child, the parent could designate that child as an irrevocable beneficiary, thus ensuring the child will receive the compensation of the life insurance policy or the segregated fund contract.
Search results for

'Irrevocable Beneficiary'

  • Life Insurance: How To Get the Most Out Of Your Policy

    http://www.investopedia.com/articles/pf/06/lifeinsurance.asp
    ... Irrevocable beneficiary In this type of beneficiary class, you cannot
    change your beneficiary's name unless they consent to it. ...

  • Designating A Trust As Retirement Beneficiary

    http://www.investopedia.com/articles/retirement/04/081804.asp
    ... the oldest underlying beneficiary of the trust is treated as the beneficiary of
    the ... The trust is irrevocable or will, by its terms, become irrevocable upon the ...

  • How do I list the beneficiaries of my life insurance policies if I ...

    http://www.investopedia.com/ask/answers/08/revocable-living-trust.asp
    ... Ownership of the Policy If your life insurance beneficiary is your spouse ... putting
    ownership of your life insurance policy in an irrevocable life insurance trust ...

  • When is it a good idea to use an irrevocable life insurance trust?

    http://www.investopedia.com/ask/answers/10/irrevocable-life-insurance-trust.asp
    ... The irrevocable life insurance trust or "ILIT" is a trust that cannot be rescinded,
    amended or ... be a good idea to set up an ILIT with the trust as beneficiary. ...

  • Estate Planning: Introduction To Trusts | Investopedia

    http://www.investopedia.com/university/estate-planning/estate-planning6.asp
    ... Tax Implications Some trusts, like irrevocable trusts, are separate taxpayers and
    must obtain ... some living trusts (ie, where the grantor and beneficiary are the ...

  • Pick The Perfect Trust

    http://www.investopedia.com/articles/pf/08/trust-basics.asp
    ... After the grantor dies, this trust becomes irrevocable, which means that the trust ...
    Protection against incapacity of the grantor and beneficiary; Help to bypass ...

  • Intro To Insurance: Life Insurance Considerations | Investopedia

    http://www.investopedia.com/university/insurance/insurance9.asp
    ... With an irrevocable designation, the policy owner cannot change the beneficiary
    designation without the beneficiary's consent, such as in a business or key man ...

  • Top 7 Estate Planning Mistakes

    http://www.investopedia.com/articles/retirement/08/estate-planning-mistakes.asp
    ... spouse of the owner. Further, these options may be irrevocable after the
    beneficiary's initial payout election. There can be nasty ...

  • Are Your Bank Deposits Insured?

    http://www.investopedia.com/articles/pf/06/FDICinsurance.asp
    ... Irrevocable Trust Accounts The interest of each beneficiary of an irrevocable trust
    you establish at the same insured bank is covered up to $250,000. ...

  • Estate Planning: Life Insurance In Estate Planning | Investopedia

    http://www.investopedia.com/university/estate-planning/estate-planning10.asp
    ... If, however, the beneficiary is an irrevocable trust, the trustee can be given broad
    powers to distribute or withhold benefits available to the insured's estate ...

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