Del. Code tit. 18 § 3316

Current through 2024 Legislative Session Act Chapter 531

Section 3316 - Change of beneficiary

(a) There shall be a provision as follows:

"Change of Beneficiary: Unless the insured make an irrevocable designation of beneficiary, the right to change the beneficiary is reserved to the insured and the consent of the beneficiary or beneficiaries shall not be requisite to surrender or assignment of this policy or to any change of beneficiary or beneficiaries, or to any other changes in this policy."

(b) The first clause of this provision, relating to the irrevocable designation of beneficiary, may be omitted at the insurer's option.

18 Del. C. § 3316

18 Del. C. 1953, § 3316; 56 Del. Laws, c. 380, § 1.;