“However, the respondent should understand the nature of an irrevocable beneficiary designation, as he appears to believe that this means that the designation can never be changed. That is generally not accurate. Rather, it means that, where the life insurance is security for support, the designation cannot be changed without the consent of the beneficiary, an Arbitration Award, or an Order of the Court. In other words, if the term is changed at their final arbitration or at trial, or if the parties agree to a change in writing, the designation can typically be changed with the insurance company.”