What Is Irrevocable Beneficiary Life Insurance? 
Irrevocable beneficiary of life insurance means that the beneficiary of the policy can not be changed without the beneficiary 's consent . This differs from a revocable beneficiary , where the policy owner can change the beneficiary at any time . Irrevocable beneficiaries are sometimes used in policies where financial obligations are involved , such as using the life insurance to repay a loan , or to satisfy a divorce settlement . 