The way the beneficiary to a life insurance policy is changed. Change may be effected in the following ways: (1) The owner of the policy may return the contract to the insurer. The insurance company then ‘ endorses’ it with the name(s) of any new beneficiary or (2) the policy is not actually returned to the insurer. Instead, the policy owner requests (over the telephone) that a change be made reflecting, the fact that there are new beneficiaries. Then the insurer mails an endorsement, reflecting the change, to the policy owner. Compare with recording method.

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