The kind of life insurance in which beneficiary requires his/her consent when a change of beneficiary is made is called irrevocable.
An irrevocable life insurance trust is a special trust which serves as both the owner and beneficiary of one or more life insurance policies. It is created to own and control a term or permanent life insurance policy or policies while the insured is alive, as well as to manage and distribute the proceeds are paid out upon the insured's death.
