Florida Health Insurance Terms:
"Change of Beneficiary"
A contract provision that allows the policy owner to change the beneficiary whenever desired, unless the beneficiary has been designated as irrevocable. Changes to an irrevocable beneficiary require written permission of the beneficiary.
more: The person to whom the proceeds of a life or health insurance policy are payable when the insured dies. There are three types of beneficiaries: Primary beneficiaries are those first entitled to the proceeds; secondary beneficiaries are entitled to proceeds only if no primary beneficiary is living when the insured dies; tertiary beneficiaries are those entitled to proceeds if no primary or secondary beneficiaries are alive when the insured dies
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