When can a beneficiary change occur?

A beneficiary change can generally occur at any time during the life of a policy, as long as the policyholder is alive and mentally competent to make such changes. This flexibility ensures that the policyholder can update the beneficiary designation based on changes in personal circumstances, such as marriage, divorce, the birth of a child, or the death of a previously designated beneficiary.

This allows for the policyholder to ensure that their insurance benefits are directed to the individuals they currently wish to support. The ability to change the beneficiary typically does not require waiting for policy renewal, does not have to coincide with a claim, and is not restricted by the age of the policyholder. Therefore, the notion that changes can occur at any time reflects the dynamic nature of personal circumstances and the policyholder's right to control their insurance decisions effectively.