What action can be taken if a policyholder wants to change the beneficiary designation?

To change the beneficiary designation on a life insurance policy, the policyholder must submit a written request to the insurance company. This process is formal and ensures that there is a clear, documented record of the policyholder's intentions. Verbal changes are not legally binding, as they may lead to disputes or miscommunications about the policyholder's wishes.

Waiting until the policy matures does not prompt a change in beneficiaries since the change needs to occur while the policy is active. Filing a claim is not relevant in this context, as that process pertains to collecting the death benefit rather than modifying policy details. The written request provides the necessary authorization required by the insurance company to update the beneficiary information accurately and securely, reflecting the policyholder's current intentions.