What Is Vesting In Life Insurance?

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    Peggy Mace
    Most of the U.S.
    As related to life insurance, vesting is a legal term that means that the beneficiary has a legal right to the life insurance proceeds in the policy. If they are an irrevocable beneficiary, they are vested in that policy, and no other beneficiary can replace them without their consent.
    Answered on November 21, 2013
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