(a) There shall be a provision as follows:
“Change of Beneficiary:
(b) The first clause of this provision, relating to the irrevocable designation of beneficiary, may be omitted at the insurer’s option.
18 Del. C. 1953, § 3316; 56 Del. Laws, c. 380, § 1; 80 Del. Laws, c. 310, § 1.