In the context of life insurance, vesting refers to the process by which an individual becomes entitled to the benefits of a policy. When a life insurance policy is vested, it means that the policyholder has full rights to the benefits, such as the death benefit or cash value, and these rights cannot be revoked. Vesting is an important concept because it determines who has the right to receive the benefits of the policy. There are different types of vesting schedules, such as immediate vesting, graded vesting, and cliff vesting, which dictate when the policyholder becomes fully entitled to the benefits. Understanding the vesting provisions of a life insurance policy is crucial for policyholders to make informed decisions about their coverage and benefits. It's important to review the specific vesting terms of a life insurance policy to fully comprehend when and how the benefits become accessible.