Can be altered, amended, revoked, or terminated during the lifetime of the grantor.
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The provisions of this type of trust can be altered, amended, revoked, or terminated by the grantor as many times as desired during the grantor’s lifetime.
A provision attached to a policy that adds benefits not found in the original policy or that changes the original policy.
The right to recall, revoke, rescind, cancel, abrogate, or make void a power or grant.
Procedures to minimize the adverse effect of a possible financial loss by identifying potential sources of loss, measuring the financial consequences of a loss occurring, and using controls to minimize actual losses or their financial consequences.