is life insurance a vested
Yes, an irrevocable beneficiary of a life insurance policy has a vested interested in the proceeds payable by the policy. A vested interest provides an irrevocable beneficiary with immediate rights â that means the policy holder cannot take certain actions without the permission of the irrevocable beneficiary.For example, a policy holder cannot change beneficiaries without the irrevocable beneficiaryâs consent.ou do not need a revocable beneficiary's consent to make changes to your policy. Unfortunately, when your life insurance benefits are paid, you will not be around, so be sure to choose beneficiaries carefully in order to avoid issues or a misinterpretation of your wishes down the road.