What is the term for a beneficiary whose interest cannot be revoked without their written consent?

The term for a beneficiary whose interest cannot be revoked without their written consent is known as an irrevocable beneficiary. This means that once an irrevocable beneficiary is designated, the policyholder cannot change the beneficiary designation or take any actions that would alter the rights of that beneficiary without first obtaining their consent.

This type of designation provides a higher level of security and assurance for the beneficiary because it legally binds the policyholder to the terms of the designation. An irrevocable beneficiary may also have vested rights to receive benefits upon the death of the insured, ensuring that they remain safeguarded against changes that the policyholder might wish to make in the future.

In contrast, other types of beneficiaries, such as revocable beneficiaries, can be changed by the policyholder at any time without needing consent, which does not provide the same level of protection for the beneficiary. Contingent beneficiaries are secondary beneficiaries who receive benefits only if the primary beneficiary is not available, and primary beneficiaries are the first in line to receive benefits but can be revocable or irrevocable.