Succession Beneficiary Clause


Definition of "Succession beneficiary clause"

Alex  Greenwood real estate agent
Alex Greenwood, Real Estate Agent M.V.P. Realty Associates

Section of a life insurance policy setting the procedure for revoking a current beneficiary and designating a successor beneficiary. Insurers require written notice of a beneficiary change, usually on a form designated for that purpose. Some may require return of the policy for the beneficiary change to be added.

 

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