What must happen for an irrevocable beneficiary designation to be changed?

An irrevocable beneficiary designation can only be changed with the written permission of the irrevocable beneficiary. This means that once a beneficiary is designated as irrevocable, the policyholder loses the unilateral right to change that beneficiary without consent. This protects the interests of the irrevocable beneficiary, ensuring they have a stake in maintaining their status and that their rights are not easily overridden by the policyholder.

In this context, the requirement for written permission is crucial, as it formalizes the agreement between the policyholder and the beneficiary, ensuring that any changes are acknowledged and accepted by both parties. This safeguard is in place to prevent disputes or misunderstandings regarding the policy's benefits upon the policyholder's death.

The other choices are not applicable because, under normal irrevocable beneficiary designations, the policyholder cannot simply provide written notice, and beneficiaries cannot independently change their status without consent. Additionally, the insurer does not have the authority to unilaterally change beneficiary designations based on the age of the policyholder.