Who must give permission if the policyowner T wishes to change the irrevocable beneficiary designation of a life insurance policy?

When a policyowner wishes to change the irrevocable beneficiary designation of a life insurance policy, the irrevocable beneficiary must provide consent for that change. An irrevocable beneficiary has a legally protected interest in the policy, which means that the policyowner cannot change the beneficiary designation without the explicit permission of the irrevocable beneficiary. This is designed to protect the rights of the beneficiary, ensuring that their expected benefits from the policy cannot be unilaterally altered by the policyowner.

The role of the policyowner in this scenario is limited, as they do not have the authority to modify the beneficiary designation without first obtaining consent from the irrevocable beneficiary. Although the insurance company must typically be informed of any changes, they do not play a role in granting permission for these changes when it comes to irrevocable beneficiaries. The insured's permission is also not required because the insured is not inherently invested in the designation of the beneficiary.

Thus, the correct answer is that the irrevocable beneficiary must give permission to change the designation, reflecting their protected status in the contract.