What is necessary for a change of beneficiary if the designation is irrevocable?

In the context of an irrevocable beneficiary designation, the correct answer is that the beneficiary's permission is necessary to make a change. An irrevocable designation means that once the policyholder has named a beneficiary, they cannot change that beneficiary without the consent of the irrevocable beneficiary. This protects the rights of the beneficiary, ensuring that they cannot be removed or altered without their agreement.

The other options do not apply in this case for several reasons. The insurer's approval is not required for a change regarding a beneficiary designated as irrevocable; rather, it is the beneficiary’s consent that is crucial. The policyholder is also limited in their ability to make changes without the beneficiary's permission. Lastly, stating that none are required would not apply here because an irrevocable designation specifically protects the beneficiary's interests, requiring their consent for any changes.