What is required for a policyholder to change a beneficiary from irrevocable to revocable?

To change a beneficiary designation from irrevocable to revocable, the policyholder must obtain the consent of the current irrevocable beneficiary. This requirement exists because an irrevocable beneficiary has certain rights to the policy that prevent the policyholder from making changes without their agreement. The purpose of an irrevocable designation is to provide the beneficiary with security in the benefits they would receive, ensuring that the policyholder cannot unilaterally alter this arrangement. Therefore, the policyholder cannot simply change the beneficiary designation on their own; they must secure the consent of the irrevocable beneficiary to formalize the change. This protects the interests of the beneficiary and upholds the terms established in the policy.